Document:

STRUCTURED
      ASSET MORTGAGE INVESTMENTS II INC.,

    DEPOSITOR

     

    CITIBANK,
      N.A.,

    TRUSTEE

     

    WELLS
      FARGO BANK, N.A.,

    MASTER
      SERVICER AND SECURITIES ADMINISTRATOR

     

    and

     

    EMC
      MORTGAGE CORPORATION,

    SELLER

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of September 1, 2006

     

    Structured
      Asset Mortgage Investments II Inc.

    Bear
      Stearns ARM Trust, Mortgage Pass-Through Certificates

     

    Series
      2006-4

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    TABLE
      OF
      CONTENTS

     

    Page

    
      	
              ARTICLE
                I DEFINITIONS

            	
              3

            
	
              ARTICLE
                II CONVEYANCE
                OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

            	
              41

            
	
              Section
                2.01

            	
              Conveyance
                of Mortgage Loans to Trustee.

            	
              41

            
	
              Section
                2.02

            	
              Acceptance
                of Mortgage Loans by Trustee.

            	
              43

            
	
              Section
                2.03

            	
              Assignment
                of Interest in the Mortgage Loan Purchase Agreement.

            	
              45

            
	
              Section
                2.04

            	
              Substitution
                of Mortgage Loans.

            	
              47

            
	
              Section
                2.05

            	
              Issuance
                of Certificates.

            	
              48

            
	
              Section
                2.06

            	
              Representations
                and Warranties Concerning the Depositor.

            	
              49

            
	
              ARTICLE
                III ADMINISTRATION
                AND SERVICING OF MORTGAGE LOANS

            	
              52

            
	
              Section
                3.01

            	
              Master
                Servicer.

            	
              52

            
	
              Section
                3.02

            	
              REMIC-Related
                Covenants.

            	
              53

            
	
              Section
                3.03

            	
              Monitoring
                of Servicers.

            	
              53

            
	
              Section
                3.04

            	
              Fidelity
                Bond.

            	
              55

            
	
              Section
                3.05

            	
              Power
                to Act; Procedures.

            	
              55

            
	
              Section
                3.06

            	
              Due-on-Sale
                Clauses; Assumption Agreements.

            	
              56

            
	
              Section
                3.07

            	
              Release
                of Mortgage Files.

            	
              56

            
	
              Section
                3.08

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

            	
              57

            
	
              Section
                3.09

            	
              Standard
                Hazard Insurance and Flood Insurance Policies.

            	
              58

            
	
              Section
                3.10

            	
              Presentment
                of Claims and Collection of Proceeds.

            	
              58

            
	
              Section
                3.11

            	
              Maintenance
                of the Primary Mortgage Insurance Policies.

            	
              59

            
	
              Section
                3.12

            	
              Trustee
                to Retain Possession of Certain Insurance Policies and
                Documents.

            	
              59

            
	
              Section
                3.13

            	
              Realization
                Upon Defaulted Mortgage Loans

            	
              59

            
	
              Section
                3.14

            	
              Compensation
                for the Master Servicer.

            	
              60

            
	
              Section
                3.15

            	
              REO
                Property.

            	
              60

            
	
              Section
                3.16

            	
              Annual
                Officer’s Certificate as to Compliance.

            	
              60

            
	
              Section
                3.17

            	
              Annual
                Independent Accountant’s Servicing Report.

            	
              61

            
	
              Section
                3.18

            	
              Reports
                Filed with Securities and Exchange Commission.

            	
              64

            
	
              Section
                3.19

            	
              UCC.

            	
              73

            
	
              Section
                3.20

            	
              Optional
                Purchase of Defaulted Mortgage Loans.

            	
              73

            
	
              ARTICLE
                IV ACCOUNTS

            	
              75

            
	
              Section
                4.01

            	
              Protected
                Accounts.

            	
              75

            
	
              Section
                4.02

            	
              [Reserved].

            	
              77

            
	
              Section
                4.03

            	
              [Reserved].

            	
              77

            
	
              Section
                4.04

            	
              Distribution
                Account.

            	
              77

            
	
              Section
                4.05

            	
              Permitted
                Withdrawals and Transfers from the Distribution Account.

            	
              78

            
	
              ARTICLE
                V CERTIFICATES

            	 	
              81

            
	
              Section
                5.01

            	
              Certificates.

            	
              81

            
	
              Section
                5.02

            	
              Registration
                of Transfer and Exchange of Certificates.

            	
              91

            

    

     

    
      
        
        

      

      
        -i-

        
          

        

      

      
        
        

      

    

    
      	
              Section
                5.03

            	
              Mutilated,
                Destroyed, Lost or Stolen Certificates.

            	
              95

            
	
              Section
                5.04

            	
              Persons
                Deemed Owners.

            	
              95

            
	
              Section
                5.05

            	
              Transfer
                Restrictions on Residual Certificates.

            	
              95

            
	
              Section
                5.06

            	
              Restrictions
                on Transferability of Certificates.

            	
              96

            
	
              Section
                5.07

            	
              ERISA
                Restrictions.

            	
              97

            
	
              Section
                5.08

            	
              Rule
                144A Information.

            	
              98

            
	
              Section
                5.09

            	
              Appointment
                of Paying Agent and Certificate Registrar.

            	
              99

            
	
              ARTICLE
                VI PAYMENTS
                TO CERTIFICATEHOLDERS

            	
              100

            
	
              Section
                6.01

            	
              Distributions
                on the Certificates.

            	
              100

            
	
              Section
                6.02

            	
              Allocation
                of Losses.

            	
              104

            
	
              Section
                6.03

            	
              Payments.

            	
              106

            
	
              Section
                6.04

            	
              Statements
                to Certificateholders.

            	
              106

            
	
              Section
                6.05

            	
              Monthly
                Advances.

            	
              109

            
	
              Section
                6.06

            	
              Compensating
                Interest Payments.

            	
              109

            
	
              ARTICLE
                VII THE
                MASTER SERVICER

            	
              111

            
	
              Section
                7.01

            	
              Liabilities
                of the Master Servicer.

            	
              111

            
	
              Section
                7.02

            	
              Merger
                or Consolidation of the Master Servicer.

            	
              111

            
	
              Section
                7.03

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

            	
              111

            
	
              Section
                7.04

            	
              Limitations
                on Liability of the Master Servicer and Others.

            	
              112

            
	
              Section
                7.05

            	
              Master
                Servicer Not to Resign.

            	
              113

            
	
              Section
                7.06

            	
              Successor
                Master Servicer.

            	
              113

            
	
              Section
                7.07

            	
              Sale
                and Assignment of Master Servicing.

            	
              113

            
	
              ARTICLE
                VIII DEFAULT

            	
              115

            
	
              Section
                8.01

            	
              Events
                of Default.

            	
              115

            
	
              Section
                8.02

            	
              Trustee
                to Act; Appointment of Successor.

            	
              117

            
	
              Section
                8.03

            	
              Notification
                to Certificateholders.

            	
              118

            
	
              Section
                8.04

            	
              Waiver
                of Defaults.

            	
              118

            
	
              Section
                8.05

            	
              List
                of Certificateholders.

            	
              118

            
	
              ARTICLE
                IX CONCERNING
                THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

            	
              119

            
	
              Section
                9.01

            	
              Duties
                of Trustee and the Securities Administrator.

            	
              119

            
	
              Section
                9.02

            	
              Certain
                Matters Affecting the Trustee and the Securities
                Administrator.

            	
              121

            
	
              Section
                9.03

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

            	
              123

            
	
              Section
                9.04

            	
              Trustee
                and Securities Administrator May Own Certificates.

            	
              123

            
	
              Section
                9.05

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

            	
              123

            
	
              Section
                9.06

            	
              Eligibility
                Requirements for Trustee, Paying Agent and Securities
                Administrator.

            	
              124

            
	
              Section
                9.07

            	
              Insurance.

            	
              124

            
	
              Section
                9.08

            	
              Resignation
                and Removal of the Trustee and Securities Administrator.

            	
              125

            
	
              Section
                9.09

            	
              Successor
                Trustee, Successor Paying Agent and Successor Securities
                Administrator.

            	
              126

            
	
              Section
                9.10

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

            	
              126

            

    

     

    
      
        
        

      

      
        -ii-

        
          

        

      

      
        
        

      

    

    
      	
              Section
                9.11

            	
              Appointment
                of Co-Trustee or Separate Trustee.

            	
              127

            
	
              Section
                9.12

            	
              Federal
                Information Returns and Reports to Certificateholders; REMIC
                Administration.

            	
              128

            
	
              ARTICLE
                X TERMINATION

            	
              130

            
	
              Section
                10.01

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

            	
              130

            
	
              Section
                10.02

            	
              Additional
                Termination Requirements.

            	
              132

            
	
              ARTICLE
                XI [RESERVED]

            	
              134

            
	
              ARTICLE
                XII MISCELLANEOUS
                PROVISIONS

            	
              135

            
	
              Section
                12.01

            	
              Intent
                of Parties.

            	
              135

            
	
              Section
                12.02

            	
              Amendment.

            	
              135

            
	
              Section
                12.03

            	
              Recordation
                of Agreement.

            	
              136

            
	
              Section
                12.04

            	
              Limitation
                on Rights of Certificateholders.

            	
              136

            
	
              Section
                12.05

            	
              Acts
                of Certificateholders.

            	
              137

            
	
              Section
                12.06

            	
              Governing
                Law.

            	
              138

            
	
              Section
                12.07

            	
              Notices.

            	
              138

            
	
              Section
                12.08

            	
              Severability
                of Provisions.

            	
              139

            
	
              Section
                12.09

            	
              Successors
                and Assigns.

            	
              139

            
	
              Section
                12.10

            	
              Article
                and Section Headings.

            	
              139

            
	
              Section
                12.11

            	
              Counterparts.

            	
              139

            
	
              Section
                12.12

            	
              Notice
                to Rating Agencies.

            	
              139

            

    

    

    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-1

            	
              -

            	
              Request
                for Release of Documents - Wells Fargo

            
	
              Exhibit
                D-2

            	
              -

            	
              Request
                for Release of Documents - Treasury Bank

            
	
              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-1

            	
              -

            	
              Form
                of Wells Fargo Custodial Agreement

            
	
              Exhibit
                G-2

            	
              -

            	
              Form
                of Treasury Bank Custodial Agreement

            
	
              Exhibit
                H-1 

            	
              -

            	
              Countrywide
                Servicing Agreements

            
	
              Exhibit
                H-2 

            	
              -

            	
              EMC
                Servicing Agreement

            
	
              Exhibit
                H-3 

            	
              -

            	
              HomeBanc
                Servicing Agreements

            
	
              Exhibit
                H-4 

            	
              -

            	
              Provident
                Servicing Agreement

            
	
              Exhibit
                H-5

            	
              -

            	
              US
                Bank Servicing Agreements

            
	
              Exhibit
                I-1

            	
              -

            	
              Countrywide
                Assignment Agreement

            
	
              Exhibit
                I-2

            	
              -

            	
              EMC
                Assignment Agreement

            
	
              Exhibit
                I-3

            	
              -

            	
              HomeBanc
                Assignment Agreement

            
	
              Exhibit
                I-4

            	
              -

            	
              Provident
                Assignment Agreement

            

    

    

    
      
        
        

      

      
        -iii-

        
          

        

      

      
        
        

      

    

    
      	
              Exhibit
                I-5

            	
              -

            	
              U.S.
                Bank Assignment Agreement

            
	
              Exhibit
                J

            	
              -

            	
              Mortgage
                Loan Purchase Agreement

            
	
              Exhibit
                K

            	
              -

            	
              [Reserved]

            
	
              Exhibit
                L

            	
              -

            	
              Form
                of Back-Up Certification

            
	
              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

            

    

    

    

    

    
      
        
        

      

      
        -iv-

        
          

        

      

      
        
        

      

    

    POOLING
      AND SERVICING AGREEMENT

     

    Pooling
      and Servicing Agreement dated as of September 1, 2006, among Structured Asset
      Mortgage Investments II Inc., a Delaware corporation, as depositor (the
“Depositor”), Citibank, N.A., 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
      Securities Administrator on behalf of the Trustee 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
      Securities Administrator on behalf of the Trustee 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
      Securities Administrator on behalf of the Trustee 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 $1,316,895,613.27. 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 $77,649,238.19. 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 $468,513,355.54. 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 $528,963,833.17.
      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 $241,769,186.37.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

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

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    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
      in its capacity as successor master servicer 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.

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    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 in 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.

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

    Assumed
      Final Distribution Date:
      October
      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.

     

    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.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

    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-A-3, II-X-1,
      II-X-3, III-A-1, III-A-2, III-X, IV-A-1, IV-A-2, IV-A-3, IV-A-4, IV-X, 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 October 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 October 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 October 2006.

     

    Closing
      Date:
      September 29, 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 Agreements:
      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, Amendment No. 3, dated May 1, 2005 and Amendment Reg AB
      to
      the Master Mortgage Loan Purchase and Servicing Agreement, dated as of January
      1, 2006, by and between the EMC and Countrywide, attached hereto as Exhibit
      H-1,
      as amended by the Assignment, Assumption and Recognition Agreement, dated as
      of
      September 29, 2006 among EMC, Countrywide and the Trustee (the “Countrywide
      Assignment Agreement”), attached hereto as Exhibit I-1.

     

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

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

    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 Citibank, N.A., 388 Greenwich Street, 14th Floor,
      New
      York, New York 10013, Attention: Structured Finance Agency & Trust BSARM
      2006-4. 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 2006-4,
      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 2006-4.

     

    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:
      As
      applicable, (i) the custodial agreement, dated as of the Closing Date among
      the
      Depositor, the Master Servicer,
      the
      Securities Administrator,
      the
      Trustee and Wells Fargo Bank, N.A., as Custodian, substantially in the form
      of
      Exhibit G-1 hereto or (ii) the custodial agreement dated as of the Closing
      Date,
      among the Depositor, the Master Servicer, the Securities Administrator, the
      Trustee and Treasury Bank, A Division of Countrywide Bank, N.A., as Custodian,
      substantially in the form of Exhibit G-2 hereto.

     

    Custodian:
      As
      applicable, (i) Wells Fargo Bank, N.A., or any successor custodian appointed
      pursuant to the provisions hereof and of the related Custodial Agreement, with
      respect to the Mortgage Loans set forth on Schedule I to the related Custodial
      Agreement, or (ii) Treasury Bank, a Division of Countrywide Bank, N.A., or
      any
      successor custodian appointed pursuant to the provisions hereof and of the
      related Custodial Agreement, with respect to the Mortgage Loans set forth on
      Schedule I to the related Custodial Agreement.

     

    Cut-off
      Date:
      September 1, 2006.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

    Cut-off
      Date Balance:
      $1,316,895,613.27.

     

    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.

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

    Distribution
      Account:
      The
      trust account or accounts created and maintained pursuant to Section 4.04,
      which
      shall be denominated “Citibank, N.A., as Trustee for the benefit of the
      registered holders of Structured Asset Mortgage Investments II Inc., Bear
      Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4 -
      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 Securities Administrator 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.

     

    
      
        
        

      

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

     

    EMC
      Flow Loans:
      Mortgage Loans purchased by EMC pursuant to a flow loan purchase agreement.
      

     

    EMC
      Servicing Agreement:
      The
      Servicing Agreement dated as of September 1, 2006 between the Depositor and
      EMC
      pursuant to which EMC agreed to service certain mortgage loans on behalf of
      Structured Asset Mortgage Investments II Inc., attached hereto as Exhibit H-2,
      as amended by the Assignment, Assumption and Recognition Agreement dated as
      of
      September 29, 2006 among EMC, the Depositor and the Trustee (the “EMC Assignment
      Agreement”), attached hereto as Exhibit I-2.

     

    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.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

    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).

     

    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, the principal
      portion of Net Liquidation Proceeds and with respect to the initial Distribution
      Date, the Special Deposit) 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;

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

    (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 any 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;

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

    (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, 94.75%.
      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

            
	
              October
                25, 2006 - September 25, 2013

            	
              100%

            
	
              October
                25, 2013 - September 25, 2014

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

            
	
              October
                25, 2014 - September 25, 2015

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

            
	
              October
                25, 2015 - September 25, 2016

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

            
	
              October
                25, 2016 - September 25, 2017

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

            
	
              October
                25, 2017 and thereafter

            	
              Group
                I Senior Percentage

            

    

    

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

    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 October 2013 and September 2014, (b) 35% of the Original Subordinate
      Principal Balance if such Distribution Date occurs between and including October
      2014 and September 2015, (c) 40% of the Original Subordinate Principal Balance
      if such Distribution Date occurs between and including October 2015 and
      September 2016, (d) 45% of the Original Subordinate Principal Balance if such
      Distribution Date occurs between and including October 2016 and September 2017,
      and (e) 50% of the Original Subordinate Principal Balance if such Distribution
      Date occurs during or after October 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 September 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 September 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 September 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.

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

    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-X-1, Class II-A-2, Class II-A-3 and Class II-X-3
      Certificates.

     

    Group
      II Senior Percentage:
      Initially, 94.75%. 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

            
	
              October
                25, 2006 - September 25, 2013

            	
              100%

            
	
              October
                25, 2013 - September 25, 2014

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

            
	
              October
                25, 2014 - September 25, 2015

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

            
	
              October
                25, 2015 - September 25, 2016

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

            
	
              October
                25, 2016 - September 25, 2017

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

            
	
              October
                25, 2017 and thereafter

            	
              Group
                II Senior Percentage

            

    

    

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

    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 October
      2013 and September 2014, (b) 35% of the Original Subordinate Principal Balance
      if such Distribution Date occurs between and including October 2014 and
      September 2015, (c) 40% of the Original Subordinate Principal Balance if such
      Distribution Date occurs between and including October 2015 and September 2016,
      (d) 45% of the Original Subordinate Principal Balance if such Distribution
      Date
      occurs between and including October 2016 and September 2017, and (e) 50% of
      the
      Original Subordinate Principal Balance if such Distribution Date occurs during
      or after October 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 September 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 September 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 September 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.

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    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 and Class III-X Certificates.

     

    Group
      III Senior Percentage:
      Initially, 94.75%. 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

            
	
              October
                25, 2006 - September 25, 2013

            	
              100%

            
	
              October
                25, 2013 - September 25, 2014

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

            
	
              October
                25, 2014 - September 25, 2015

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

            
	
              October
                25, 2015 - September 25, 2016

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

            
	
              October
                25, 2016 - September 25, 2017

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

            
	
              October
                25, 2017 and thereafter

            	
              Group
                III Senior Percentage

            

    

    

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

    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 October
      2013 and September 2014, (b) 35% of the Original Subordinate Principal Balance
      if such Distribution Date occurs between and including October 2014 and
      September 2015, (c) 40% of the Original Subordinate Principal Balance if such
      Distribution Date occurs between and including October 2015 and September 2016,
      (d) 45% of the Original Subordinate Principal Balance if such Distribution
      Date
      occurs between and including October 2016 and September 2017, and (e) 50% of
      the
      Original Subordinate Principal Balance if such Distribution Date occurs during
      or after October 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 September
      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 September 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 September 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.

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

    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, Class IV-A-2, Class IV-A-3, Class IV-A-4 and Class IV-X
      Certificates.

     

    Group
      IV Senior Percentage:
      Initially, 94.75%. 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
                IV Senior Prepayment Percentage

            
	
              October
                25, 2006 - September 25, 2013

            	
              100%

            
	
              October
                25, 2013 - September 25, 2014

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

            
	
              October
                25, 2014 - September 25, 2015

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

            
	
              October
                25, 2015 - September 25, 2016

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

            
	
              October
                25, 2016 - September 25, 2017

            	
              Group
                IV Senior Percentage plus 30% of the Group IV Subordinate
                Percentage

            
	
              October
                25, 2017 and thereafter

            	
              Group
                IV Senior Percentage

            

    

    

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

    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 October
      2013 and September 2014, (b) 35% of the Original Subordinate Principal Balance
      if such Distribution Date occurs between and including October 2014 and
      September 2015, (c) 40% of the Original Subordinate Principal Balance if such
      Distribution Date occurs between and including October 2015 and September 2016,
      (d) 45% of the Original Subordinate Principal Balance if such Distribution
      Date
      occurs between and including October 2016 and September 2017, and (e) 50% of
      the
      Original Subordinate Principal Balance if such Distribution Date occurs during
      or after October 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 September 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 September 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 September 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.

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

    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, the Securities
      Administrator 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.

     

    HomeBanc:
      HomeBanc Mortgage Corporation.

     

    HomeBanc
      Servicing Agreements:
      The
      Purchase, Warranties and Servicing Agreement, dated as of January 1, 2004,
      as
      amended by the Amended and Restated Amendment No. 1 to the Purchase, Warranties
      and Servicing Agreement, dated as of January 27, 2006, between EMC and HomeBanc
      (as amended), attached hereto as Exhibit H-3, as amended by the Assignment,
      Assumption and Recognition Agreement dated as of September 29, 2006 among EMC,
      Homebanc and the Trustee (the “Homebanc Assignment Agreement”), attached hereto
      as Exhibit I-3.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

    Indemnified
      Persons:
      The
      Trustee, the Master Servicer, each 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-1, Class II-X-3, Class III-X and Class IV-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:

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

    (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.

     

    Issuing
      Entity:
      Bear
      Stearns ARM Trust 2006-4.

     

    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.

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

    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.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

    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 September 29, 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 by the Seller 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; 

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

    (b) the
      property type;

    (c) the
      Mortgage Interest Rate;

    (d) the
      Servicing Fee Rate;

    (e) the
      Master Servicing 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; 

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

    (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 in its capacity as successor master servicer 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-1 Certificates, the Notional Amount of the Class
      II-X-1 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
      II-X-3 Certificates, the Notional Amount of the Class II-X-3 Certificates,
      as of
      any date of determination, is equal to the Current Principal Amount of the
      Class
      II-A-3 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 aggregate Current Principal Amount of the Class III-A-1
      Certificates and Class III-A-2 Certificates. With respect to the Class IV-X
      Certificates, the Notional Amount of the Class IV-X Certificates, as of any
      date
      of determination, is equal to the aggregate Current Principal Amount of the
      Class IV-A-1, Class IV-A-2, Class IV-A-3 and Class IV-A-4 Certificates.
      Reference to the Notional Amount of the Class II-X-1, Class II-X-3, Class III-X
      and Class IV-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 Amount of the Class II-X-1
      Certificates equals the Uncertificated Principal Balance of REMIC II Regular
      Interest II-A-1, the Notional Amount of the Class II-X-3 Certificates equals
      the
      Uncertificated Principal Balance of REMIC II Regular Interest II-A-3, the
      Notional Amount of the Class III-X Certificates equals the aggregate
      Uncertificated Principal Balance of REMIC II Regular Interest III-A-1 and REMIC
      II Regular Interest III-A-2, and the Notional Amount of the Class IV-X
      Certificates equals the aggregate Uncertificated Principal Balance of REMIC
      II
      Regular Interest IV-A-1, REMIC II Regular IV-A-2, REMIC II Regular IV-A-3 and
      REMIC II Regular IV-A-4. 

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

    Offered
      Certificates:
      The
      Class I-A-1, Class I-A-2, Class II-A-1, Class II-X-1, Class II-A-2, Class
      II-A-3, Class II-X-3, Class III-A-1, Class III-A-2, Class III-X, Class IV-A-1,
      Class IV-A-2, Class IV-A-3, Class IV-A-4, Class IV-X, 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, any Servicer, the Depositor or the
      Seller, 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.

     

    
      
        
        

      

      
        28

        
          

        

      

      
        
        

      

    

    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,
the
      Securities Administrator
      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 Securities Administrator holds the security
      therefor;

     

    (iv) securities
      bearing interest or sold at a discount issued by any corporation (including
      the
      Trustee, the Securities Administrator 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;

     

    
      
        
        

      

      
        29

        
          

        

      

      
        
        

      

    

    (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, the Securities Administrator, the Master Servicer or
      its
      affiliates; and

     

    (viii) interests
      in any money market fund (including any such fund managed or advised by the
      Trustee, the Securities Administrator or the 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 rating such fund, 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 rating such
      fund; 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.

     

    
      
        
        

      

      
        30

        
          

        

      

      
        
        

      

    

    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.

     

    Provident:
      Provident Funding Associates, L.P.

     

    Provident
      Servicing Agreement:
      The
      Purchase, Warranties and Servicing Agreement, dated as of May 1, 2006 between
      EMC and Provident,
      attached
      hereto as Exhibit H-4, as amended by the Assignment, Assumption and Recognition
      Agreement dated as of September 29, 2006 among EMC, Provident and the Trustee
      (the “Provident Assignment Agreement”), attached hereto as Exhibit
      I-4.

     

    Purchase
      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, Article II of this Agreement or Section 3.20, 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.

     

    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.

     

    
      
        
        

      

      
        31

        
          

        

      

      
        
        

      

    

    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.

     

    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.

     

    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.

     

    
      
        
        

      

      
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    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, II-A-3, III-A-1, III-A-2,
      IV-A-1, IV-A-2, IV-A-3, IV-A-4, 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
      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-1 or Exhibit D-2,
      as applicable.

     

    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.

     

    
      
        
        

      

      
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    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
      or
      the Securities Administrator 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 or the Securities Administrator to whom a matter arising
      hereunder may be referred because of such officer’s knowledge or the familiarity
      with the particular subject.

     

    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).

     

    
      
        
        

      

      
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    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 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 [in
      the case of a Residual Certificate:] UNLESS THE PROPOSED TRANSFEREE PROVIDES
      THE
      SECURITIES ADMINISTRATOR 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 SECURITIES ADMINISTRATOR 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.”

     

    
      
        
        

      

      
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    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 in
      its capacity as seller of the Mortgage Loan to the Depositor.

     

    Senior
      Certificates:
      The
      Class I-A-1, Class I-A-2, Class II-A-1, Class II-X-1, Class II-A-2, Class
      II-X-3, Class III-A-1, Class III-A-2, Class III-X, Class IV-A-1, Class IV-A-2,
      Class IV-A- 3, Class IV-A-4 and Class IV-X 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 and their successors and assigns.

     

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

     

    Servicing
      Agreements:
      The
      Countrywide Servicing Agreement, HomeBanc Servicing Agreement, the U.S. Bank
      Servicing Agreement, the Provident Servicing Agreement and the EMC 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.

     

    
      
        
        

      

      
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    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.

     

    Special
      Deposit: As of the Closing Date, an
      amount equal to 3,815,902.25.

     

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

     

    Startup
      Day:
      September 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;

     

    
      
        
        

      

      
        37

        
          

        

      

      
        
        

      

    

    (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.

     

    
      
        
        

      

      
        38

        
          

        

      

      
        
        

      

    

    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:
      Citibank, N.A., 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, HomeBanc, Provident, US Bank,
Synovus
      Mortgage Corporation,
      American Mortgage Express Corp. d/b/a American Residential Mortgage Corp. and
      EMC Mortgage Corporation 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.

     

    
      
        
        

      

      
        39

        
          

        

      

      
        
        

      

    

    U.S.
      Bank:
      U.S.
      Bank, NA.

     

    U.S.
      Bank Servicing Agreements:
      The
      Purchase, Warranties and Servicing Agreement, dated as of March 1, 2003, as
      amended by Amendment No. 1 to the Purchase, Warranties and Servicing Agreement,
      dated as of January 1, 2006, between EMC and U.S. Bank, attached hereto as
      Exhibit H-5, as amended by the Assignment, Assumption and Recognition Agreement
      dated as of September 29, 2006 among EMC, U.S. Bank and the Trustee (the “U.S.
      Bank Assignment Agreement”), attached hereto as Exhibit I-5.

    
 

    
      
        
        

      

      
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    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 the Mortgage Loan
      Schedule, 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. The Depositor, the Seller, the Master Servicer and the Trustee
      agree that it is not intended that any mortgage loan be conveyed to the Trust
      that is either (i) a “High-Cost Home Loan” as defined in the New Jersey Home
      Ownership Act effective November 27, 2003, (ii) a “High-Cost Home Loan” as
      defined in the New Mexico Home Loan Protection Act effective January 1, 2004
      (iii) a “High Cost Home Mortgage Loan” as defined in the Massachusetts Predatory
      Home Loan Practices Act effective November 7, 2004 or (iv) a “High-Cost Home
      Loan” as defined by the Indiana High Cost Home Loan Law effective January 1,
      2005.

     

    (b) In
      connection with the above transfer and assignment, the Depositor hereby delivers
      to the Custodian, on behalf of the Trustee, with respect to each Mortgage
      Loan:

     

    (i) the
      original Mortgage Note, endorsed without recourse (A) to the order of the
      Trustee or in blank, 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;

     

    
      
        
        

      

      
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    (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, for Mortgage Loans other than the
      EMC
      Flow Loans, 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 registered on the MERS® System, 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 “Citibank, N.A., 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, on behalf
      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, or cause to be
      delivered, a true copy thereof with a stamp on the face of such copy,
      substantially as follows: “Certified to be a true and correct copy of the
      original”; (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, on its behalf,
      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, on its behalf, 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, on its behalf, 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.

     

    
      
        
        

      

      
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    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, on its behalf, 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 (or the Custodian
      on its behalf) 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
      substantially in the form of Exhibit One to the related Custodial Agreement,
      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 related Custodial Agreement), each Mortgage
      File delivered to it (or the Custodian on its behalf) and to execute and
      deliver, or cause to be executed and delivered, to the Depositor and the Trustee
      an Interim Certification substantially in the form of Exhibit Two to the related
      Custodial Agreement. In conducting such review, the Trustee or Custodian on
      behalf of the Trustee 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, on its behalf, may conclusively rely on the
      purported due execution and genuineness of any such document and on the
      purported genuineness of any signature thereon. If the Trustee or the Custodian,
      on its behalf, finds any document constituting part of the Mortgage File 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 (i.e.
      torn, mutilated, or otherwise physically altered) (a “Material Defect”), the
      Trustee or the Custodian, on its behalf, shall, upon completion of the review
      of
      all files, but in no event later than 90 days after the Closing Date, 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, on its behalf, 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, on its
      behalf, shall be effected by the Seller within thirty days of its receipt of
      the
      original recorded document.

     

    
      
        
        

      

      
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    (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, on its behalf, 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 substantially in the form of
      Exhibit Three to the related Custodial Agreement. In conducting such review,
      the
      Trustee or the Custodian, on its behalf, 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, on its behalf,
      finds
      a Material Defect, the Trustee or the Custodian, on its behalf, shall, upon
      completion of the review of all files, but in no event later than 180 days
      after
      the Closing Date, 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, on its behalf, 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, on its
      behalf, shall be effected by the Seller within thirty days of its receipt of
      the
      original recorded document.

     

    
      
        
        

      

      
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    (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 Securities
      Administrator the Repurchase Price for deposit in the Distribution Account
      and
      the Seller shall provide to the Master Servicer, the Securities Administrator
      and the Paying Agent written notification detailing the components of the
      Repurchase Price. Upon deposit of the Repurchase Price in the Distribution
      Account, the Depositor shall notify the Trustee and the Custodian, on behalf
      of
      the Trustee (upon receipt of a Request for Release in the form of Exhibit D-1
      or
      Exhibit D-2 attached hereto, as applicable, 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 Master Servicer 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.

     

    
      
        
        

      

      
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    (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 to this Agreement. 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 Securities
      Administrator, the Paying Agent and the Master Servicer. The Depositor shall
      notify the Trustee and submit to the Custodian, on behalf of 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 Securities Administrator. 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.

     

    
      
        
        

      

      
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    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, on behalf of 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, on its behalf, 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,
      on behalf of 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, the Securities Administrator, the Seller, the
      Custodian and the Rating Agencies. 

     

    
      
        
        

      

      
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    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
      (or the Custodian on its behalf) agrees that it will hold the Mortgage Loans
      and
      such other assets as may from time to time be delivered to it (or the Custodian
      on its behalf) segregated on the books of the Trustee in trust for the benefit
      of the Certificateholders.

     

    
      
        
        

      

      
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    (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;

     

    
      
        
        

      

      
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    (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.

     

    Section
      2.07 Purposes
      and Powers of the Trust. 

     

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

     

    (a) acquire
      and hold the Mortgage Loans and the other assets of the Trust Fund and the
      proceeds therefrom;

     

    
      
        
        

      

      
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    (b) to
      issue
      the Certificates sold to the Depositor in exchange for the Mortgage
      Loans;

     

    (c) to
      make
      payments on the Certificates;

     

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

     

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

     

    The
      trust
      is hereby authorized to engage in the foregoing activities. The trust shall
      not
      engage in any activity other than in connection with the foregoing or other
      than
      as required or authorized by the terms of this Agreement while any Certificate
      is outstanding.

     

    
      
        
        

      

      
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    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 to the Securities
      Administrator 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.

     

    
      
        
        

      

      
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    The
      Trustee shall furnish the Servicers and the Master Servicer, upon written
      request from a servicing officer, with any powers of attorney and 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 on its behalf or the related Servicer 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 or the related
      Servicer; provided, however, that, unless otherwise required by law, the
      Trustee, the Custodian, or the related Servicer, 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, on its behalf, or the related Servicer, 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,
      Custodian’s or the related Servicer’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 Securities Administrator
      or
      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
      and Securities Administrator has received a REMIC Opinion addressed to the
      Securities Administrator and the Trustee prepared at the expense of the Trust
      Fund; (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 Securities Administrator and the Trustee; or (c)
      acquire any assets for any REMIC
      (except as otherwise expressly permitted by this Agreement) other
      than
      any REO Property after the Startup Day without receipt of a REMIC
      Opinion.

     

    Section
      3.03 Monitoring
      of Servicers.

     

    
      
        
        

      

      
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    (a) The
      Master Servicer shall be responsible for reporting to the Trustee and the
      Depositor the non-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 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 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 successor 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. 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, 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. Nothing
      herein shall impose any obligation on the part of the Trustee to assume or
      succeed to the duties or obligations of 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, or the enforcement or
      prosecution or related claims, rights or remedies or the appointment of a
      successor servicer or the transfer and assumption of servicing by the Master
      Servicer 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 a 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,
      pursuant to Section 4.05.

     

    
      
        
        

      

      
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    (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, except in those instances where it is taking action
      in
      the name of the Trust, be deemed to be the agent of the Trust.

     

    
      
        
        

      

      
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    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-1 or Exhibit D-2, as
      applicable, (or as otherwise provided in the Custodial Agreement) 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.

     

    
      
        
        

      

      
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    (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-1 or Exhibit D-2, as applicable, (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 on its behalf
      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 on its behalf. 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 and each Servicer shall
      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.

     

    
      
        
        

      

      
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    (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).

     

    
      
        
        

      

      
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    Section
      3.11 Maintenance
      of the Primary Mortgage Insurance Policies.

     

    (a) The
      Master Servicer shall not take, or authorize 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 authorize
      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, on behalf of 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, on behalf of 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, on behalf of 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.

     

    
      
        
        

      

      
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    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 the performance of its
      activities hereunder. 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.

     

    
      
        
        

      

      
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    (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
      Master Servicer, 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:

     

    
      
        
        

      

      
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    (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. 

     

    
      
        
        

      

      
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    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, and the Master Servicer shall enforce the obligation (as and when
      provided in the related Servicing Agreement) of each Servicer to 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 such Servicer, 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 Master Servicer, 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.

     

    
      
        
        

      

      
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    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 for inclusion 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, and the Master
      Servicer shall enforce the obligations of each Servicer (to the extent provided
      in the related Servicing Agreement) 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
      Administrator in writing, no later than the fifth calendar day after the related
      Distribution Date with respect to the filing of a report on Form 10-D, if the
      answer to the questions should be “no”. The Securities Administrator shall be
      entitled to rely on 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 (v) 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
      a
      party’s failure to deliver, on a timely basis, any information from such party
      needed to prepare, arrange for execution or file such Form 10-D, not resulting
      from its own negligence, bad faith or willful misconduct. 

     

    
      
        
        

      

      
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    (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 for inclusion 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, and the Master Servicer will
      enforce the obligations of each Servicer (to the extent provided in the related
      Servicing Agreement) 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. 

     

    
      
        
        

      

      
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    (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 a party’s
      failure to deliver on a timely basis, any information from such 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 each Servicer, 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, each 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 for inclusion 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.

     

    
      
        
        

      

      
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    (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, and the Master Servicer shall enforce the
      obligations of each Servicer (to the extent provided in the related Servicing
      Agreement) 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 otherwise if
      requested by the Depositor) 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)(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 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 Administrator in writing, no later than
      March 15th
      of each
      year in which the Trust is subject to the requirements of the Exchange Act
      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. 

     

    
      
        
        

      

      
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    (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, and any 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 (or such other date specified in the related
      Servicing Agreement) 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. In addition, 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. 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.

     

    
      
        
        

      

      
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    (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 (iii) 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, and the Master Servicer agrees to enforce the obligations
      (to the extent provided in the related Servicing Agreement) of each Servicer
      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 March 15 of each year that the Trust is
      subject to the Exchange Act reporting requirements, commencing in 2007. 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.

     

    
      
        
        

      

      
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    (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 or 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 a party’s
      failure to deliver on a timely basis, any information from such party 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) 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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    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.

     

    (c) 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.

     

    
      
        
        

      

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

     

    (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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    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;

     

    
      
        
        

      

      
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    (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 or any Compensating Interest
      Payments.

     

    (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
      Securities Administrator for deposit therein) any Monthly Advances required
      to
      be made by the Master Servicer with respect to the Mortgage Loans.

     

    
      
        
        

      

      
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    (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 Securities Administrator, upon receipt
      of a written request therefor signed by a Servicing Officer of the Master
      Servicer, shall promptly transfer such amount to the Master Servicer, any
      provision herein to the contrary notwithstanding.

     

    
      
        
        

      

      
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    (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 Trustee, 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. 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;

     

    
      
        
        

      

      
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    (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;

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    ARTICLE
      V

    CERTIFICATES

     

    Section
      5.01 Certificates.

     

    (a) The
      Depository and the Issuing Entity 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.

     

    
      
        
        

      

      
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    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.

     

    i) (1) 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 Certificates 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

            	 	$	
               407.72
                

            	 	
              (1)

            	 	
              Loan
                Group I

            
	
              I-Grp

            	 	$	
               7,764.92
                

            	 	
              (2)

            	 	
              Loan
                Group I

            
	
              II-Sub

            	 	$	
               2,459.74
                

            	 	
              (1)

            	 	
              Loan
                Group II

            
	
              II-Grp

            	 	$	
               46,851.34
                

            	 	
              (3)

            	 	
              Loan
                Group II

            
	
              III-Sub

            	 	$	
               2,777.08
                

            	 	
              (1)

            	 	
              Loan
                Group III

            
	
              III-Grp

            	 	$	
               52,896.38
                

            	 	
              (4)

            	 	
              Loan
                Group III

            
	
              IV-Sub

            	 	$	
                 1,269.32
                

            	 	
              (1)

            	 	
              Loan
                Group IV

            
	
              IV-Grp

            	 	$	
               24,176.92
                

            	 	
              (5)

            	 	
              Loan
                Group IV

            
	
              R-II/R-III

            	 	$	
                    100.00

            	 	
              0.00%

            	 	
              N/A

            
	
              ZZZ

            	 	$	
               1,316,757,009.85

            	 	
              (1)

            	 	
              Loan
                Group I through Loan Group IV

            
	
              Class
                R-I

            	 	$	
              50.00

            	 	
              0.00%

            	 	
              N/A

            

    

    

    
      
        
        

      

      
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    ______________

    (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 October 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.

     

    
      
        
        

      

      
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    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 Certificates will have the following
      designations, initial principal amounts and Pass Through Rates:

     

    
      	
              Designation

            	 	
               Initial
                Principal Amount

            	 	
              Pass-Through
                Rate

            
	 	 	 	 	 	 
	
              I-A-1

            	 	$	
               69,495,000.00
                

            	 	
              (1)

            
	
              I-A-2

            	 	$	
               4,077,000.00
                

            	 	
              (1)

            
	
              II-A-1

            	 	$	
               369,319,000.00
                

            	 	
              (2)

            
	
              II-A-2

            	 	$	
               50,000,000.00
                

            	 	
              (2)

            
	
              II-A-3

            	 	$	
               24,597,000.00
                

            	 	
              (2)

            
	
              III-A-1

            	 	$	
               473,422,000.00
                

            	 	
              (3)

            
	
              III-A-2

            	 	$	
               27,771,000.00
                

            	 	
              (3)

            
	
              IV-A-1

            	 	$	
               184,513,000.00
                

            	 	
              (4)

            
	
              IV-A-2

            	 	$	
               12,693,000.00

            	 	
              (4)

            
	
              IV-A-3

            	 	$	
               30,000,000.00
                

            	 	
              (4)

            
	
              IV-A-4

            	 	$	
               1,870,000.00
                

            	 	
              (4)

            
	
              Class
                R-II

            	 	$	
               50.00
                

            	 	
              0.00%

            
	
              R-III

            	 	$	
               50.00
                

            	 	
              0.00%

            
	
              B-1

            	 	$	
               43,457,000.00
                

            	 	
              (5)

            
	
              B-2

            	 	$	
               8,560,000.00
                

            	 	
              (5)

            
	
              B-3

            	 	$	
               6,584,000.00
                

            	 	
              (5)

            
	
              B-4

            	 	$	
               3,951,000.00
                

            	 	
              (5)

            
	
              B-5

            	 	$	
               3,292,000.00
                

            	 	
              (5)

            
	
              B-6

            	 	$	
               3,294,613.27
                

            	 	
              (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.

     

    
      
        
        

      

      
        84

        
          

        

      

      
        
        

      

    

    (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-1 Certificates shall be
      deemed to be allocated entirely to the Class II-A-1 Certificates, any shortfalls
      or losses allocable to the Class II-X-3 Certificates shall be deemed to be
      allocated entirely to the Class II-A-3 Certificates, any shortfalls or losses
      allocable to the Class III-X Certificates shall be deemed to be allocated
      entirely to the Class III-A-1 Certificates and Class III-A-2 Certificates on
      a
      pro rata basis, and any shortfalls or losses allocable to the Class IV-X
      Certificates shall be deemed to be allocated entirely to the Class IV-A-1,
      Class
      IV-A-2, Class IV-A-3 and Class IV-A-4 Certificates on a pro rata basis. 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

            	 	$	
               69,495,000.00

            	 	
              (1)

            
	
              I-A-2

            	 	$	
               4,077,000.00

            	 	
              (1)

            
	
              II-A-1

            	 	$	
               369,319,000.00

            	 	
              (2)

            
	
              II-X-1

            	 	 	
              (3)

            	 	
              (4)

            
	
              II-A-2

            	 	$	
               50,000,000.00

            	 	
              (6)

            
	
              II-A-3

            	 	$	
               24,597,000.00

            	 	
              (2)

            
	
              II-X-3

            	 	 	
              (3)

            	 	
              (5)

            
	
              III-A-1

            	 	$	
               473,422,000.00

            	 	
              (7)

            
	
              III-A-2

            	 	$	
               27,771,000.00

            	 	
              (7)

            
	
              III-X

            	 	 	
              (3)

            	 	
              (8)

            
	
              IV-A-1

            	 	$	
               184,513,000.00

            	 	
              (9)

            
	
              IV-A-2

            	 	$	
               12,693,000.00

            	 	
              (9)

            
	
              IV-A-3

            	 	$	
               30,000,000.00

            	 	
              (9)

            
	
              IV-A-4

            	 	$	
               1,870,000.00

            	 	
              (9)

            
	
              IV-X

            	 	 	
              (3)

            	 	
              (10)

            
	
              R-I

            	 	$	
               50.00

            	 	
              (11)

            
	
              R-II

            	 	$	
               50.00

            	 	
              (11)

            
	
              R-III

            	 	$	
               50.00

            	 	
              (11)

            
	
              B-1

            	 	$	
               43,457,000.00

            	 	
              (12)

            
	
              B-2

            	 	$	
               8,560,000.00

            	 	
              (12)

            
	
              B-3

            	 	$	
               6,584,000.00

            	 	
              (12)

            
	
              B-4

            	 	$	
               3,951,000.00

            	 	
              (12)

            
	
              B-5

            	 	$	
               3,292,000.00

            	 	
              (12)

            
	
              B-6

            	 	$	
               3,294,613.27

            	 	
              (12)

            

    

    

    
      
        
        

      

      
        85

        
          

        

      

      
        
        

      

    

    (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
      expected to be approximately 5.997% per annum.

     

    (2) On
      or
      prior to the Distribution Date in July 2011, the Class II-A-1 Certificates
      and
      Class II-A-3 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, minus 0.160% per annum. After the Distribution
      Date in July 2011, the Class II-A-1 Certificates and Class II-A-3 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.
During
      each such period, for federal income tax purposes the Class II-A-1 Certificates
      and Class II-A-3 Certificates will bear interest at a rate equivalent to the
      foregoing, calculated using the weighted average of the Pass-Through Rates
      on
      REMIC II Regular Interests II-A-1 and II-A-3, weighted on the basis of the
      Uncertificated Principal Balances of such REMIC II Regular Interests 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 and Class II-A-3
      Certificates with respect to the first Interest Accrual Period is expected
      to be
      approximately 5.850% per annum.

     

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

     

    (4) On
      or
      prior to the Distribution Date in July
      2011,
      the
      Class II-X-1 Certificates will bear interest at a fixed Pass-Through Rate equal
      to 0.160% per annum on a notional balance equal to the Current Principal Amount
      of the Class II-A-1 Certificates. After the Distribution Date in July 2011,
      the
      Class II-X-1 Certificates will not bear any interest. For federal income tax
      purposes, the Class II-X-1 Certificates will bear interest at a rate equivalent
      to the foregoing, expressed as (i) for any Distribution Date in or prior to
      July
      2011, the excess, if any, of (x) the weighted average of the Pass-Through Rate
      on REMIC II Regular Interests 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 (y) the excess, if any, of (1)
      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
      (2)
      0.160% per annum, and (ii) for any Distribution Date after July 2011, the
      excess, if any, of (A) 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 (B) 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.

     

    
      
        
        

      

      
        86

        
          

        

      

      
        
        

      

    

    (5) On
      or
      prior to the Distribution Date in July 2011, the Class II-X-3 Certificates
      will
      bear interest at a fixed Pass-Through Rate equal to 0.160% per annum on a
      notional balance equal to the Current Principal Amount of the Class II-A-3
      Certificates. For federal income tax purposes, the Class II-X-3 Certificates
      will bear interest at a rate equivalent to the foregoing, expressed as (i)
      for
      any Distribution Date in or prior to July 2011, the excess, if any, of (x)
      the
      weighted average of the Pass-Through Rate on REMIC II Regular Interest II-A-3,
      weighted on the basis of the Uncertificated Principal Balance of such REMIC
      II
      Regular Interest immediately preceding the related Distribution Date, over
      (y)
      the excess, if any, of (1) the weighted average of the Pass-Through Rates on
      REMIC II Regular Interest II-A-3, weighted on the basis of the Uncertificated
      Principal Balance of such REMIC II Regular Interest immediately preceding the
      related Distribution Date, over (2) 0.160% per annum, and (ii) for any
      Distribution Date after July 2011, the excess, if any, of (A) the weighted
      average of the Pass-Through Rate on REMIC II Regular Interest II-A-3, weighted
      on the basis of the Uncertificated Principal Balance of such REMIC II Regular
      Interest immediately preceding the related Distribution Date, over (B) the
      weighted average of the Pass-Through Rate on REMIC II Regular Interest II-A-3,
      weighted on the basis of the Uncertificated Principal Balance of such REMIC
      II
      Regular Interest immediately preceding the related Distribution
      Date.

     

    (6) 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 expected to be approximately 6.010% per
      annum.

     

    (7) 
      On or
      prior to the Distribution Date in July 2013 the Class III-A-1 Certificates
      and
      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, minus 0.224% per annum. After the Distribution
      Date in July 2013 the Class III-A-1 Certificates and 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. During each such period,
      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,
      calculated using the weighted average of the Pass-Through Rates on REMIC II
      Regular Interests III-A-1 and III-A-2, weighted on the basis of the
      Uncertificated Principal Balances of such REMIC II Regular Interests 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 with respect
      to
      the first Interest Accrual Period is expected to be approximately 6.000% per
      annum.

     

    (8) On
      or
      prior to the Distribution Date in July 2013, the Class III-X Certificates will
      bear interest at a fixed Pass-Through Rate equal to 0.224% per annum on a
      notional balance equal to the aggregate Current Principal Amount of the Class
      III-A-1 Certificates and Class III-A-2 Certificates. After the Distribution
      Date
      in July 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 (i) for any Distribution Date
      in or prior to July 2013, the excess, if any, of (x) the weighted average of
      the
      Pass-Through Rates on REMIC II Regular Interests III-A-1 and III-A-2, weighted
      on the basis of the Uncertificated Principal Balances of such REMIC II Regular
      Interests immediately preceding the related Distribution Date, over (y) the
      excess, if any, of (1) the weighted average of the Pass-Through Rates on REMIC
      II Regular Interests III-A-1 and III-A-2, weighted on the basis of the
      Uncertificated Principal Balances of such REMIC II Regular Interests immediately
      preceding the related Distribution Date, over (2) 0.224% per annum, and (ii)
      for
      any Distribution Date after July 2013, the excess, if any, of (A) the weighted
      average of the Pass-Through Rates on REMIC II Regular Interests III-A-1 and
      III-A-2, weighted on the basis of the Uncertificated Principal Balances of
      such
      REMIC II Regular Interests immediately preceding the related Distribution Date,
      over (B) the weighted average of the Pass-Through Rates on REMIC II Regular
      Interests III-A-1 and III-A-2, weighted on the basis of the Uncertificated
      Principal Balances of such REMIC II Regular Interests immediately preceding
      the
      related Distribution Date. 

     

    
      
        
        

      

      
        87

        
          

        

      

      
        
        

      

    

    (9) 
      On or
      prior to the Distribution Date in July 2016, the Class IV-A-1, Class IV-A-2,
      Class IV-A-3 and Class IV-A-4 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, minus 0.262% per annum.
      After the Distribution Date in July 2016, the Class IV-A-1, Class IV-A-2, Class
      IV-A-3 and Class IV-A-4 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. During each such period, for federal income tax purposes the
      Class IV-A-1, Class IV-A-2, Class IV-A-3 and Class IV-A-4 Certificates will
      bear
      interest at a rate equivalent to the foregoing, calculated using the weighted
      average of the Pass-Through Rates on REMIC II Regular Interests IV-A-1, IV-A-2,
      IV-A-3 and IV-A-4, weighted on the basis of the Uncertificated Principal
      Balances of such REMIC II Regular Interests immediately preceding the related
      Distribution Date, in place of the weighted average of the Net Rates of the
      Group IV Mortgage Loans. The Pass-Through Rate with respect to the first
      Interest Accrual Period is expected to be approximately 6.000% per
      annum.

     

    (10) On
      or
      prior to the Distribution Date in July 2016, the Class IV-X Certificates will
      bear interest at a fixed Pass-Through Rate equal to 0.262% per annum on a
      notional balance equal to the aggregate Current Principal Amount of the Class
      IV-A-1, Class IV-A-2, Class IV-A-3 and Class IV-A-4 Certificates. After the
      Distribution Date in July 2016, the Class IV-X Certificates will not bear any
      interest. For federal income tax purposes, the Class IV-X Certificates will
      bear
      interest at a rate equivalent to the foregoing, expressed as (i) for any
      Distribution Date in or prior to July 2016, the excess, if any, of (x) the
      weighted average of the Pass-Through Rates on REMIC II Regular Interests IV-A-1,
      IV-A-2, IV-A-3 and IV-A-4, weighted on the basis of the Uncertificated Principal
      Balances of such REMIC II Regular Interests immediately preceding the related
      Distribution Date, over (y) the excess, if any, of (1) the weighted average
      of
      the Pass-Through Rates on REMIC II Regular Interests IV-A-1, IV-A-2, IV-A-3
      and
      IV-A-4, weighted on the basis of the Uncertificated Principal Balances of such
      REMIC II Regular Interests immediately preceding the related Distribution Date,
      over (2) 0.262% per annum, and (ii) for any Distribution Date after July 2016,
      the excess, if any, of (A) the weighted average of the Pass-Through Rates on
      REMIC II Regular Interests IV-A-1, IV-A-2, IV-A-3 and IV-A-4, weighted on the
      basis of the Uncertificated Principal Balances of such REMIC II Regular
      Interests immediately preceding the related Distribution Date, over (B) the
      weighted average of the Pass-Through Rates on REMIC II Regular Interests IV-A-1,
      IV-A-2, IV-A-3 and IV-A-4, weighted on the basis of the Uncertificated Principal
      Balances of such REMIC II Regular Interests immediately preceding the related
      Distribution Date.

     

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

     

    (12) 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 Balances of such REMIC II Regular Interests immediately preceding
      the
      related Distribution Date. The Pass-Through Rate with respect to the first
      Interest Accrual Period is expected to be approximately 6.141% 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.

     

    
      
        
        

      

      
        88

        
          

        

      

      
        
        

      

    

    (f) The
      Certificates shall be substantially in the forms set forth in Exhibits A-1,
      A-2
      and A-3. On original issuance, the Securities Administrator, as 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 Securities Administrator, as Certificate Registrar,
      shall sign the Certificates by facsimile or manual signature and countersign
      them by manual signature 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.

     

    
      
        
        

      

      
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    (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
      Securities Administrator on behalf of the Trustee 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.

     

    
      
        
        

      

      
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    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:

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    (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) (2) 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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    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, the Securities
      Administrator and any agent of the Depositor, the Paying Agent, the Certificate
      Registrar, the Trustee or the Securities Administrator 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 Securities Administrator nor any agent of the
      Depositor, the Paying Agent, the Certificate Registrar, the Trustee or the
      Securities Administrator 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 Trustee and the Certificate Registrar 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
      Trustee
      and the
      Certificate Registrar 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).

     

    
      
        
        

      

      
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    (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 Securities Administrator, 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 Securities Administrator, 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 Securities Administrator, 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 Securities Administrator, 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.

     

    
      
        
        

      

      
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    (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 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 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 Certificate Registrar is 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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    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 for cause, the Depositor
      may appoint a successor paying agent or certificate registrar, as applicable.
      The Depositor 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 Depositor and the Trustee an instrument in which such paying agent shall
      agree with the Depositor and 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.

     

    

    
      
        
        

      

      
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    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 October 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 October 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, Class II-A-3, Class II-X-1 and Class II-X-3
      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, Class II-A-3, Class II-X-1 and Class II-X-3
      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, Class II-A-3, Class II-X-1 and Class II-X-3
      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

     

    
      
        
        

      

      
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    third,
      to the
      Class II-A-1, Class II-A-2 and Class II-A-3 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 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 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 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 Certificates and Class III-A-2 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, Class IV-A-2, Class IV-A-3, Class IV-A-4
      and
      Class IV-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 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, Class IV-A-2, Class IV-A-3, Class IV-A-4 and Class IV-X
      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, Class IV-A-2, Class IV-A-3 and Class IV-A-4 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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    (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;
      and

     

    seventh,
      if such
      loss is on (w) 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; (x) a Group
      II Mortgage Loan, to
      the
      Class II-A-1, Class II-A-2 and Class II-A-3 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
      and the Class II-A-2 Certificates will be allocated first to the Class II-A-3
      Certificates, until the Current Principal Amount of the Class II-A-3
      Certificates has been reduced to zero, and then to the Class II-A-1 Certificates
      and Class II-A-2 Certificates, pro rata; (y) 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; and (z) a Group IV Mortgage Loan, to the Class
      IV-A-1, Class IV-A-3 and Class IV-A-4 Certificates will first be allocated
      to
      the Class IV-A-2 Certificates, then concurrently to the Class IV-A-1, Class
      IV-A-3 and Class IV-A-4 Certificates, except that losses that would otherwise
      go
      to the Class IV-A-3 Certificates will first be allocated to the Class IV-A-4
      Certificates, in each case until the current principal amount of each such
      class
      has been reduced to zero.

     

    
      
        
        

      

      
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    (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).

     

    
      
        
        

      

      
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    (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:

     

    
      
        
        

      

      
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    (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 calendar month
      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;

     

    
      
        
        

      

      
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    (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 calendar month, 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.

     

    
      
        
        

      

      
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    (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 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
      the
      Master Servicer or the Securities Administrator was required to make an Advance
      but failed to do so, the Trustee in its capacity as successor master servicer,
      upon receiving notice or becoming aware of such failure, and pursuant to the
      applicable terms of this Agreement, 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 in its capacity as successor master servicer shall have determined
      that such Advance is a Nonrecoverable Advance. 

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    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 of 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.

     

    
      
        
        

      

      
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    (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).

     

    
      
        
        

      

      
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    (e) In
      taking
      or recommending any course of action pursuant to this Agreement, unless
      specifically required to do so pursuant to this Agreement, the Master Servicer
      shall not be required to investigate or make recommendations concerning
      potential liabilities which the Trust 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
      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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    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

     

    
      
        
        

      

      
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    (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 in its capacity as successor master
      servicer 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 its capacity as successor master servicer (or such other
      successor master servicer as may be appointed hereunder) in effecting the
      termination of the Master Servicer’s rights and obligations hereunder,
      including, without limitation, the transfer to the Trustee in its capacity
      as
      successor master servicer (or such other successor master servicer as may be
      appointed hereunder) 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 in its capacity as successor master servicer (or such other
      successor master servicer as may be appointed hereunder) 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 upon receiving notice
      or
      becoming aware of such failure, and pursuant to the applicable terms of this
      Agreement, 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 in
      its
      capacity as successor master servicer (or such other successor master servicer
      as may be appointed hereunder) 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 in its
      capacity as successor master servicer (or such other successor master servicer
      as may be appointed hereunder) must be prior to the distribution on the relevant
      Distribution Date.

     

    
      
        
        

      

      
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    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 in its capacity as successor master servicer
      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 in its capacity as successor master
      servicer 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 in its capacity as successor master servicer
      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.

     

    
      
        
        

      

      
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    (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 Securities Administrator will afford such Certificateholders
      access during business hours to the most recent list of Certificateholders
      held
      by the Securities Administrator.

     

    
      
        
        

      

      
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    ARTICLE
      IX

    CONCERNING
      THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

     

    Section
      9.01 Duties
      of
      Trustee and Securities Administrator.

     

    (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;

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

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

     

    (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;

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    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 Securities
      Administrator 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 signature
      and countersignature of the Securities Administrator as Certificate Registrar
      (or countersignature of its agent) on the Certificates shall be solely in its
      capacity as Securities Administrator and shall not constitute the Certificates
      an obligation of the Certificate Registrar 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 or Securities Administrator 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
      by
      the Master Servicer in accordance with a side letter agreement. 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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    (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 the Securities Administrator shall deliver (or
      otherwise make available) 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 at the Securities Administrator 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 Securities Administrator on
      behalf of 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.

     

    
      
        
        

      

      
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    (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 Securities Administrator reasonably
      believes are applicable under the Code. The consent of Certificateholders shall
      not be required for such withholding. In the event 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 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.

     

    
      
        
        

      

      
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    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.

     

    
      
        
        

      

      
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    (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, on its
      behalf, 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.

     

    
      
        
        

      

      
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    (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 Securities Administrator on behalf of the Trustee
      shall
      sell or otherwise dispose of all of the remaining assets of the Trust Fund
      in
      accordance with the terms hereof.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
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    ARTICLE
      XI

    [RESERVED]

     

    
      
        
        

      

      
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    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 and the Securities Administrator, 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 and Securities Administrator which shall be provided to the
      Trustee and the Securities Administrator other than at the Trustee’s or the
      Securities Administrator’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 Securities Administrator 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.

     

    
      
        
        

      

      
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    (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 and the Securities
      Administrator shall be entitled to receive and rely upon an Opinion of Counsel
      addressed to the Trustee and the Securities Administrator 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.

     

    
      
        
        

      

      
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    (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.

     

    
      
        
        

      

      
        137

        
          

        

      

      
        
        

      

    

    (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 EMC Mortgage Corporation, 2780
      Lake
      Vista Drive, Lewisville, Texas 75067 (Facsimile: (469) 759-4714), attention:
      President or General Counsel or such other address as may be hereafter furnished
      to the other parties hereto by the Seller in writing, 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 2006-4), 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.

     

    
      
        
        

      

      
        138

        
          

        

      

      
        
        

      

    

    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 Securities
      Administrator shall promptly provide notice to each Rating Agency with respect
      to each of the following of which a Responsible Officer of the Securities
      Administrator has actual knowledge:

     

    
      
        
        

      

      
        139

        
          

        

      

      
        
        

      

    

    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.

     

    
      
        
        

      

      
        140

        
          

        

      

      
        
        

      

    

    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

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              CITIBANK,
                N.A., as Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                John Hannon

            
	 	 	 	 	 	 	 	 	
              Name:
                John  Hannon

            
	 	 	 	 	 	 	 	 	
              
                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

              

            

    

    

    
      
        
        

      

      
        141

        
          

        

      

      
        
        

      

    

    

    
      	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              EMC
                MORTGAGE CORPORATION

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	/s/
              Dana Dillard
	 	 	 	 	 	 	 	 	
              Name:
                Dana Dillard

            
	  	 	 	 	 	 	 	 	
              
                Title:
                  Senior 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/
              Jenna Kemp
	 	
              Name:
                Jenna Kemp

            
	 	
              Title:
                Senior Vice President

            

    

    

    
      
        
        

      

      
        142

        
          

        

      

      
        
        

      

    

    STATE
      OF
      NEW YORK            
)

    )
      ss.:

    
      	
              COUNTY
                OF NEW YORK

            	
              )

            

    

     

    On
      the
      29th
      day of
      September, 2006 before me, a notary public in and for said State, personally
      appeared ___________________________, 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]

    
      
        
        

      

      
        143

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF NEW YORK

            	
              )

            

    

    )
      ss.:

    COUNTY
      OF
      NEW YORK                
      )

     

    On
      the
      29th
      day of
      September, 2006 before me, a notary public in and for said State, personally
      appeared _________________________, known to me to be a Vice President of
      Citibank, 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]

    
      
        
        

      

      
        144

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            

    

    )
      ss.:

    COUNTY
      OF HOWARD           
      )

     

    On
      the
      29th
      day of
      September, 2006 before me, a notary public in and for said State, personally
      appeared ________________________, known to me to be a 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]

    
      
        
        

      

      
        145

        
          

        

      

      
        
        

      

    

    
      	
              STATE
                OF MARYLAND

            	
              )

            

    

    )
      ss.:

    COUNTY
      OF HOWARD           
      )

     

    On
      the
      29th
      day of
      September, 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]

    
      
        
        

      

      
        146

        
          

        

      

      
        
        

      

    

    STATE
      OF
      TEXAS             
      )

    )
      ss.:

    
      	
              COUNTY
                OF DALLAS

            	
              )

            

    

     

    On
      the
      29th
      day of
      September, 2006 before me, a notary public in and for said State, personally
      appeared _______, 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]

    
      
        
        

      

      
        147

        
          

        

      

      
        
        

      

    

    STATE
      OF
      TEXAS             
      )

    )
      ss.:

    
      	
              COUNTY
                OF DALLAS

            	
              )

            

    

     

    On
      the
      29th
      day of
      September, 2006 before me, a notary public in and for said State, personally
      appeared ________, 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]

    
      
        
        

      

      
        148

        
          

        

      

      
        
        

      

    

    

    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: September 1, 2006

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

            
	 	 
	
              First
                Distribution Date:

              October
                25, 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:

              October
                25, 2036

            	 
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-4

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-4

     

    evidencing
      a fractional undivided interest in the distributions allocable to the Class
      [_]-[_-[A]-_] [-X-] 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 Citibank, N.A. 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-four 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 neither the Trustee
      nor the Securities Administrator is 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 and the Securities Administrator.

     

    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:
                September 29, 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-4, CLASS B-5 AND CLASS B-6] [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 SECURITIES ADMINISTRATOR AND THE CERTIFICATE REGISTRAR
      OF
      A LETTER SUBSTANTIALLY IN THE FORM PROVIDED IN THE AGREEMENT AND (B) THE RECEIPT
      BY THE SECURITIES ADMINISTRATOR OF SUCH OTHER EVIDENCE ACCEPTABLE TO THE
      SECURITIES ADMINISTRATOR 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-4, CLASS B-5 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 CERTIFICATE REGISTRAR, THE MASTER SERVICER
      OR
      THE SECURITIES ADMINISTRATOR, 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:

              September
                1, 2006

            	
              Aggregate
                Initial Current Principal Amount of this Subordinate Certificate
                as of the
                Cut-off Date: $[_________]

            
	 	 
	
              First
                Distribution Date:

              October
                25, 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:

              October
                25, 2036

            	
               

            
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-4

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-4

     

    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 Citibank, N.A. 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 Securities Administrator shall register such transfer if,
      (i)
      made to a transferee who has provided the Securities Administrator with evidence
      as to its QIB status; or (ii) (A) the transferor has advised the Securities
      Administrator in writing that the Certificate is being transferred to an
      Institutional Accredited Investor and (B) prior to such transfer the transferee
      furnishes to the Securities Administrator 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 Securities Administrator 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-four 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 neither the Trustee
      nor the Securities Administrator is 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 and the Securities Administrator.

    

    
    

    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 Securities
      Administrator 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:
                September 29, 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 SECURITIES ADMINISTRATOR) WHICH IS ACCEPTABLE
      TO THE SECURITIES ADMINISTRATOR, 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. AND THE
      SECURITIES ADMINISTRATOR 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:

              September
                1, 2006

            	
              Aggregate
                Initial Current Principal Amount of this Certificate as of the Cut-off
                Date:

              $___________

            
	 	 
	
              First
                Distribution Date:

              October
                25, 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:

              October
                25, 2036

            	 
	 	 

    

    BEAR
      STEARNS ARM TRUST 2006-4

    MORTGAGE
      PASS-THROUGH CERTIFICATE

    SERIES
      2006-4

     

    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 Citibank, N.A. 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
      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 Securities Administrator 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 Securities Administrator, 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-four 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 neither the Trustee
      nor the Securities Administrator is 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 and the Securities Administrator.

     

    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:
                September 29, 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      DEAL_INFO                      CURRENT_BALANCE           PAYMENT                STATED_ORIGINAL_TERM                STATED_REM_TERM                  CURRENT_NET_COUPON
       16244517      G02                                     227500           1042.71                                 360                            353                               5.125
       16244519      G02                                     159250            895.78                                 360                            355                               6.375
       16244520      G02                                  468689.87           2636.38                                 360                            354                               6.375
       16244521      G02                                     400000           2083.33                                 360                            355                               5.875
       16244522      G02                                     120000               675                                 360                            354                               6.375
       16244525      G02                                      78968            468.87                                 360                            355                                6.75
       16244526      G02                                      64993            345.28                                 360                            355                                   6
       16244527      G02                                     149200            870.33                                 360                            355                               6.625
       16244528      G02                                  124455.79            810.75                                 360                            355                               6.375
       16244529      G02                                     400000              2375                                 360                            355                                6.75
       16244530      G02                                   61453.99             385.2                                 360                            355                                   6
       16244531      G02                                   78972.89            527.16                                 360                            356                               6.625
       16244532      G02                                     280000              1400                                 360                            355                               5.625
       16244533      G02                                  129575.26            849.66                                 360                            355                               6.375
       16244534      G02                                   281498.8           1857.14                                 360                            355                                 6.5
       16244535      G02                                  359822.75           1461.78                                 360                            355                                 4.5
       16244536      G02                                     633750            2970.7                                 360                            355                                5.25
       16244537      G02                                     270000           1321.87                                 360                            355                                 5.5
       16244538      G02                                  175851.27           1018.91                                 360                            354                                5.25
       16244540      G02                                  253717.99           1528.85                                 360                            355                               5.625
       16244541      G02                                     307500           1633.59                                 360                            355                                   6
       16244542      G02                                  115435.21            879.61                                 360                            356                                   8
       16244543      G02                                  462537.69           3526.74                                 360                            355                                   8
       16244544      G02                                     215000           1164.58                                 360                            356                               6.125
       16369989      G04                                     512000           2826.67                                 360                            358                               6.375
       16369992      G04                                     675000           3726.56                                 360                            358                               6.375
       16369996      G04                                   479804.6           2499.17                                 360                            358                                   6
       16370000      G04                                     521000           3310.52                                 360                            358                               7.375
       16370011      G04                                   635889.7            3444.4                                 360                            358                                6.25
       16370030      G04                                    1396000           7125.42                                 360                            358                               5.875
       16370032      G04                                     540000              2925                                 360                            358                                6.25
       16370050      G04                                     706600           3827.42                                 360                            358                                6.25
       16370060      G04                                  501359.09           2663.47                                 360                            358                               6.125
       16370067      G04                                     850000           4515.63                                 360                            358                               6.125
       16370070      G04                                  999999.36              5000                                 360                            358                                5.75
       16370075      G04                                  599924.85           3562.14                                 360                            358                               6.875
       16370086      G04                                  464097.04           3015.98                                 360                            358                                 6.5
       16370128      G04                                     463800           2560.56                                 360                            358                               6.375
       16370161      G04                                   625099.2            3125.5                                 360                            358                                5.75
       16370166      G04                                     455000           2511.98                                 360                            358                               6.375
       16370177      G04                                     606432           3411.18                                 360                            358                                 6.5
       16370183      G04                                     508000            2857.5                                 360                            358                                 6.5
       16370189      G04                                     638288           3523.88                                 360                            358                               6.375
       16370190      G04                                     532000            2992.5                                 360                            358                                 6.5
       16369912      G04                                     430000           2284.38                                 360                            358                               6.125
       16369921      G04                                  569995.16           2849.98                                 360                            358                                5.75
       16369923      G04                                     525000           2953.13                                 360                            358                                 6.5
       16369960      G04                                     500000           2656.25                                 360                            358                               6.125
       16369967      G04                                     503200            2830.5                                 360                            358                                 6.5
       16369969      G04                                  659776.38           3367.61                                 360                            358                               5.875
       16369972      G04                                     776000              4365                                 360                            358                                 6.5
       16369753      G04                                  647515.67           3994.47                                 360                            358                                   6
       16369781      G04                                     620000           3358.33                                 360                            358                                6.25
       16369788      G04                                     604000           3271.67                                 360                            358                                6.25
       16369797      G04                                     464000              2610                                 360                            358                                 6.5
       16369801      G04                                  574955.76           3640.71                                 360                            358                                6.25
       16369802      G04                                     432000              2340                                 360                            358                                6.25
       16369830      G04                                     485000           3100.86                                 360                            358                               6.375
       16369874      G04                                     577577           3128.54                                 360                            358                                6.25
       16369899      G04                                     436000           2361.67                                 360                            358                                6.25
       16369911      G04                                  455173.31           2882.23                                 360                            358                                6.25
       16369733      G04                                     473000           2660.63                                 360                            358                                 6.5
       16369544      G04                                     760000           4195.83                                 360                            358                               6.375
       16369549      G04                                     897000           4765.31                                 360                            358                               6.125
       16369551      G04                                  649134.39           3518.16                                 360                            358                                6.25
       16369561      G04                                     624000              3445                                 360                            358                               6.375
       16369570      G04                                  545959.28           3367.97                                 360                            358                                   6
       16369573      G04                                  507385.07           2854.04                                 360                            358                                 6.5
       16369580      G04                                     448000           2566.67                                 360                            358                               6.625
       16369585      G04                                     980000           5614.58                                 360                            358                               6.625
       16369587      G04                                     822960            4457.7                                 360                            358                                6.25
       16369604      G04                                   796983.1           4488.72                                 360                            358                                 6.5
       16369606      G04                                  469105.77           2893.87                                 360                            358                                   6
       16369609      G04                                     536000           2959.17                                 360                            358                               6.375
       16369616      G04                                     525000           2679.69                                 360                            358                               5.875
       16369626      G04                                     666700           3611.58                                 360                            358                                6.25
       16369648      G04                                     476048           2677.77                                 360                            358                                 6.5
       16369652      G04                                    1000000           5729.17                                 360                            357                               6.625
       16369654      G04                                     505165           3104.66                                 360                            358                               7.125
       16369667      G04                                     455200           2607.92                                 360                            358                               6.625
       16369674      G04                                  602931.26           3867.48                                 360                            358                               6.375
       16369690      G04                                     553356           3170.27                                 360                            358                               6.625
       16369691      G04                                  943468.56           6004.65                                 360                            358                                6.25
       16369700      G04                                     692000           3676.25                                 360                            358                               6.125
       16369703      G04                                     480000              2650                                 360                            358                               6.375
       16369721      G04                                     640000              3400                                 360                            358                               6.125
       16368713      G04                                    1967555           9427.87                                 360                            353                                 5.5
       16368715      G04                                     699538           3643.43                                 360                            358                                   6
       16368716      G04                                     520792           2820.96                                 360                            357                                6.25
       16368719      G04                                  997955.91           5915.38                                 360                            358                               5.625
       16368720      G04                                     417854           2219.85                                 360                            358                               6.125
       16368780      G04                                  949660.16           4946.15                                 360                            358                                   6
       16368778      G04                                     606000           3345.63                                 360                            357                               6.375
       16370215      G04                                  531050.37           2987.16                                 360                            358                                 6.5
       16370246      G04                                  618100.01           3283.66                                 360                            358                               6.125
       16370251      G04                                     700000           3791.67                                 360                            358                                6.25
       16370263      G04                                  495996.65           2583.31                                 360                            358                                   6
       16370286      G04                                     893000           4837.08                                 360                            358                                6.25
       16370288      G04                                  590872.64           3790.13                                 360                            358                               6.375
       16369520      G04                                  799611.78           4165.06                                 360                            358                                   6
       16369010      G04                                  697348.55           3778.21                                 360                            358                                6.25
       16369050      G04                                     459200              2583                                 360                            357                                 6.5
       16369055      G04                                  845751.82           4933.56                                 360                            358                                6.75
       16369056      G04                                     650000           3656.25                                 360                            358                                 6.5
       16369070      G04                                     488000           2694.17                                 360                            358                               6.375
       16369074      G04                                     633000           3362.81                                 360                            358                               6.125
       16369088      G04                                     568000              3195                                 360                            358                                 6.5
       16369099      G04                                     560000              3150                                 360                            358                                 6.5
       16369157      G04                                  534486.84           2895.14                                 360                            357                                6.25
       16369164      G04                                     584000           3406.67                                 360                            358                                6.75
       16369189      G04                                     783611           5026.44                                 360                            358                               6.375
       16369209      G04                                     696000            3842.5                                 360                            358                               6.375
       16369217      G04                                 3101153.24          19673.12                                 360                            356                                6.25
       16369225      G04                                     598490           3179.49                                 360                            358                               6.125
       16369226      G04                                  999437.58           5621.84                                 360                            358                                 6.5
       16369229      G04                                     600000              3250                                 360                            358                                6.25
       16369247      G04                                  532028.45           2881.82                                 360                            358                                6.25
       16369257      G04                                     999400           5413.42                                 360                            358                                6.25
       16369267      G04                                     473124           2809.17                                 360                            358                               6.875
       16369290      G04                                     475200            2326.5                                 360                            358                               5.625
       16369300      G04                                  779699.77           4304.59                                 360                            358                               6.375
       16369350      G04                                     532681           2829.87                                 360                            358                               6.125
       16369358      G04                                   499115.3           3201.55                                 360                            358                               6.375
       16369360      G04                                     562950           2932.03                                 360                            358                                   6
       16369364      G04                                     687200           3292.83                                 360                            358                                 5.5
       16369370      G04                                    1427500            7434.9                                 360                            358                                   6
       16369391      G04                                  909874.52           5764.46                                 360                            358                                6.25
       16369393      G04                                     640000           3266.67                                 360                            358                               5.875
       16369408      G04                                 3272995.83          18069.66                                 360                            357                               6.375
       16369409      G04                                     589600           3193.67                                 360                            358                                6.25
       16369423      G04                                  468725.74           2587.78                                 360                            358                               6.375
       16369436      G04                                  594866.05           3669.67                                 360                            358                                   6
       16369442      G04                                     450000           2484.38                                 360                            358                               6.375
       16369447      G04                                     588000              3185                                 360                            358                                6.25
       16369454      G04                                  453195.42           2360.39                                 360                            358                                   6
       16369455      G04                                  510250.54           3189.22                                 360                            358                               6.125
       16369456      G04                                  694904.79           3474.52                                 360                            358                                5.75
       16369468      G04                                  550924.24           3354.01                                 360                            358                               5.875
       16369470      G04                                     509844           2920.98                                 360                            358                               6.625
       16369471      G04                                     750000           3984.38                                 360                            358                               6.125
       16369487      G04                                  438828.14            2334.4                                 360                            358                               6.125
       16369490      G04                                  509804.72           2867.75                                 360                            358                                 6.5
       16369501      G04                                   998273.2           6485.98                                 360                            358                                 6.5
       16369512      G04                                    1000000           5416.67                                 360                            358                                6.25
       16368798      G04                                     752000              4230                                 360                            357                                 6.5
       16368817      G04                                   428629.5           2321.74                                 360                            357                                6.25
       16368827      G04                                  643829.61           3554.48                                 360                            358                               6.375
       16368829      G04                                     644000           3689.58                                 360                            358                               6.625
       16368849      G04                                     693440            3900.6                                 360                            358                                 6.5
       16368861      G04                                    1000000           5729.17                                 360                            358                               6.625
       16368863      G04                                     566000           3124.79                                 360                            358                               6.375
       16368866      G04                                   904739.4           4429.45                                 360                            357                               5.625
       16368870      G04                                     825723           3526.53                                 360                            358                               4.875
       16368874      G04                                  574120.05           3403.09                                 360                            358                               5.625
       16368882      G04                                     638068           3256.81                                 360                            358                               5.875
       16368888      G04                                     766000           3989.58                                 360                            358                                   6
       16368902      G04                                     693750           3830.08                                 360                            358                               6.375
       16368910      G04                                     488750           2749.22                                 360                            358                                 6.5
       16368912      G04                                     580000           3202.08                                 360                            358                               6.375
       16368917      G04                                     517000           2854.27                                 360                            357                               6.375
       16368930      G04                                     624000              3510                                 360                            357                                 6.5
       16368960      G04                                     452100           2590.16                                 360                            358                               6.625
       16368965      G04                                     650000           3656.25                                 360                            357                                 6.5
       16368971      G04                                  509420.62              2866                                 360                            357                                 6.5
       16368978      G04                                     575200           3295.42                                 360                            357                               6.625
       16368985      G04                                     524000            2947.5                                 360                            358                                 6.5
       16368995      G04                                  549737.16           2864.22                                 360                            358                                   6
       16573265      G01                                     500000           2708.33                                 360                            359                                6.25
       16573266      G01                                     860000           4927.08                                 360                            358                               6.625
       16573267      G01                                     671000              3355                                 360                            359                                5.75
       16573269      G01                                  517460.16           3276.65                                 360                            358                                6.25
       16573270      G01                                     920000           5270.83                                 360                            359                               6.625
       16573271      G01                                     527173           3181.22                                 360                            359                                5.75
       16573272      G01                                    1000000              6250                                 360                            358                                7.25
       16573274      G01                                     552000              2760                                 360                            359                                5.75
       16573275      G01                                  499423.83           3326.51                                 360                            359                                6.75
       16573276      G01                                     443000           2168.85                                 360                            359                               5.625
       16573277      G01                                     696000            3842.5                                 360                            359                               6.375
       16573278      G01                                  552927.21           2707.04                                 360                            359                               5.625
       16573279      G01                                     691832           4323.95                                 360                            357                                7.25
       16573280      G01                                     740000            4738.3                                 360                            360                               6.375
       16573281      G01                                    1000000            4687.5                                 360                            358                               5.375
       16573282      G01                                  594903.99           3842.09                                 360                            359                                 7.5
       16573283      G01                                     650000           3182.29                                 360                            359                               5.625
       16573284      G01                                     660000           4117.54                                 360                            360                               6.125
       16573285      G01                                     632000           3291.67                                 360                            359                                   6
       16573286      G01                                  503576.58           3310.92                                 360                            359                               6.625
       16573287      G01                                    1500000           9481.02                                 360                            360                                6.25
       16573288      G01                                     548000           3554.32                                 360                            360                                 6.5
       16573289      G01                                  972744.26           5087.12                                 360                            358                                 4.5
       16598123      G01                                     623962           2924.82                                 360                            359                               5.375
       16598124      G01                                  477146.83           2940.67                                 360                            359                                   6
       16598125      G01                                     440000           2520.83                                 360                            359                               6.625
       16598127      G01                                  899146.05           5541.45                                 360                            359                                   6
       16598128      G01                                     440000              2475                                 360                            360                                 6.5
       16598129      G01                                     450000           2661.92                                 360                            360                               5.625
       16573219      G03                                  619686.56           3550.29                                 360                            359                               6.625
       16573220      G03                                     649000           3515.42                                 360                            359                                6.25
       16573221      G03                                  429612.48           2416.57                                 360                            359                                 6.5
       16573222      G03                                  421885.71           2285.36                                 360                            359                                6.25
       16573223      G03                                     640000           3666.67                                 360                            359                               6.625
       16573224      G03                                     686697           3719.61                                 360                            359                                6.25
       16573225      G03                                  638577.67           3458.96                                 360                            359                                6.25
       16573226      G03                                   649112.1           3651.26                                 360                            357                                 6.5
       16573227      G03                                     555000              2775                                 360                            360                                5.75
       16573228      G03                                    1000000            5312.5                                 360                            360                               6.125
       16573229      G03                                     440000           2291.67                                 360                            360                                   6
       16573230      G03                                     435000              2175                                 360                            360                                5.75
       16573231      G03                                     514720           3381.34                                 360                            360                               6.625
       16573232      G03                                     555000           3179.69                                 360                            359                               6.625
       16573233      G03                                     548000           2968.33                                 360                            360                                6.25
       16573234      G03                                     500000           2864.58                                 360                            360                               6.625
       16573235      G03                                     728800           4023.58                                 360                            360                               6.375
       16573236      G03                                     444000           2543.75                                 360                            360                               6.625
       16573237      G03                                     760000           4354.17                                 360                            360                               6.625
       16573238      G03                                     580000           3202.08                                 360                            360                               6.375
       16573239      G03                                     540000           3324.87                                 360                            360                                   6
       16573240      G03                                     528000              3135                                 360                            360                               6.875
       16573241      G03                                     650000           3520.83                                 360                            360                                6.25
       16573242      G03                                     688000           4405.34                                 360                            360                               6.375
       16558646      G03                                     428000           2362.92                                 360                            359                               6.375
       16558647      G03                                   475600.1           3126.98                                 360                            359                               6.625
       16558648      G03                                     492000            2767.5                                 360                            359                                 6.5
       16558649      G03                                     631200           3616.25                                 360                            359                               6.625
       16558650      G03                                     440000           2429.17                                 360                            359                               6.375
       16558652      G03                                  607362.26           3994.13                                 360                            359                               6.625
       16558653      G03                                     800000              4250                                 360                            359                               6.125
       16558598      G03                                     488350           2746.97                                 360                            358                                 6.5
       16558599      G03                                     665512           3327.56                                 360                            358                                5.75
       16558600      G03                                   499815.1           2915.95                                 360                            358                                6.75
       16558601      G03                                  585045.99           3047.11                                 360                            358                                   6
       16558602      G03                                     491100           2762.44                                 360                            357                                 6.5
       16558603      G03                                     700000           3791.67                                 360                            358                                6.25
       16558604      G03                                    1305000           6796.88                                 360                            358                                   6
       16558605      G03                                     900000              5250                                 360                            358                                6.75
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       16558607      G03                                     592000           3206.67                                 360                            357                                6.25
       16558608      G03                                     580000           3564.58                                 360                            359                               7.125
       16558609      G03                                     462000           2598.75                                 360                            359                                 6.5
       16558610      G03                                     650000           3723.96                                 360                            359                               6.625
       16558611      G03                                  519659.17           2814.82                                 360                            359                                6.25
       16558612      G03                                  516809.77           2745.59                                 360                            358                               6.125
       16558613      G03                                     720000              4125                                 360                            359                               6.625
       16558614      G03                                    1000000           5416.67                                 360                            359                                6.25
       16558615      G03                                     483200           2466.33                                 360                            359                               5.875
       16558616      G03                                    1000000            5312.5                                 360                            359                               6.125
       16558617      G03                                     814500           4327.03                                 360                            359                               6.125
       16558618      G03                                    1000000              5625                                 360                            359                                 6.5
       16558619      G03                                     646875           3436.52                                 360                            359                               6.125
       16558620      G03                                     860000           4747.92                                 360                            359                               6.375
       16558621      G03                                     551800           3104.03                                 360                            359                                 6.5
       16558622      G03                                     562400            3163.5                                 360                            359                                 6.5
       16558623      G03                                     447000           2560.94                                 360                            359                               6.625
       16558624      G03                                     801500           4591.93                                 360                            359                               6.625
       16558625      G03                                     489600              2652                                 360                            359                                6.25
       16558626      G03                                  1498610.7           9358.05                                 360                            359                               6.125
       16558627      G03                                     844000           3868.33                                 360                            359                                5.25
       16558628      G03                                     950000           5046.88                                 360                            359                               6.125
       16558629      G03                                   583773.8           3645.37                                 360                            359                               6.125
       16558630      G03                                     908000           4918.33                                 360                            359                                6.25
       16558631      G03                                  999999.67           5416.66                                 360                            359                                6.25
       16558632      G03                                   649467.2           4324.47                                 360                            359                                6.75
       16558633      G03                                     523900           2783.22                                 360                            359                               6.125
       16558634      G03                                     752000           4151.67                                 360                            359                               6.375
       16558635      G03                                     576000              3240                                 360                            359                                 6.5
       16558636      G03                                     620000           3229.17                                 360                            359                                   6
       16558637      G03                                     578000           3371.67                                 360                            359                                6.75
       16558638      G03                                     466000           2475.63                                 360                            359                               6.125
       16558639      G03                                     484000           2772.92                                 360                            359                               6.625
       16558640      G03                                     650000           3453.13                                 360                            359                               6.125
       16558641      G03                                     650000           3588.54                                 360                            359                               6.375
       16558642      G03                                    1000000           5416.67                                 360                            359                                6.25
       16558643      G03                                     462000           2550.63                                 360                            359                               6.375
       16558644      G03                                     550000           3093.75                                 360                            359                                 6.5
       16558645      G03                                  554485.96           3462.48                                 360                            359                               6.125
       16593653      G04                                     650000           3656.25                                 360                            360                                 6.5
       16593654      G04                                     426301           2531.16                                 360                            360                               6.875
       16593655      G04                                     583200           3219.75                                 360                            360                               6.375
       16593656      G04                                     460000            2587.5                                 360                            360                                 6.5
       16593608      G04                                     504000              2730                                 360                            360                                6.25
       16593609      G04                                  1422616.5           7409.46                                 360                            353                                   6
       16593610      G04                                     840000              4725                                 360                            359                                 6.5
       16593611      G04                                     580000           3202.08                                 360                            360                               6.375
       16593613      G04                                     463050           2797.59                                 360                            359                                   7
       16593614      G04                                     872000           4814.17                                 360                            358                               6.375
       16593615      G04                                     760000              3800                                 360                            359                                5.75
       16593616      G04                                  647245.89           3573.34                                 360                            359                               6.375
       16593618      G04                                     685094           3853.65                                 360                            359                                 6.5
       16593619      G04                                     670000           4345.61                                 360                            360                                 6.5
       16593620      G04                                     637500           3519.53                                 360                            359                               6.375
       16593621      G04                                     724000           4147.92                                 360                            359                               6.625
       16593622      G04                                     544000           3116.67                                 360                            360                               6.625
       16593623      G04                                     500000           2760.42                                 360                            360                               6.375
       16593624      G04                                     624000              3705                                 360                            360                               6.875
       16593625      G04                                     700000           4083.33                                 360                            359                                6.75
       16593626      G04                                     470000           2496.88                                 360                            360                               6.125
       16593628      G04                                     555000           3064.06                                 360                            360                               6.375
       16593629      G04                                     500000            2812.5                                 360                            360                                 6.5
       16593630      G04                                     620000           3616.67                                 360                            360                                6.75
       16593631      G04                                     532000           2937.08                                 360                            360                               6.375
       16593632      G04                                     550000           3151.04                                 360                            360                               6.625
       16593633      G04                                     475920            2577.9                                 360                            360                                6.25
       16593634      G04                                     899000           4775.94                                 360                            360                               6.125
       16593635      G04                                    1000000           5520.83                                 360                            360                               6.375
       16593636      G04                                     501000           2818.13                                 360                            360                                 6.5
       16593637      G04                                    1000000           5729.17                                 360                            360                               6.625
       16593638      G04                                    1153125           6366.21                                 360                            360                               6.375
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       16593640      G04                                     575000           3294.27                                 360                            360                               6.625
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       16593650      G04                                     955000            5880.1                                 360                            360                                   6
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       16593652      G04                                     518000           3075.63                                 360                            360                               6.875
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       16573246      G04                                     446985           2560.85                                 360                            359                               6.625
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       16564123      G04                                     630000           3609.38                                 360                            359                               6.625
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       16564082      G04                                     532000           3047.92                                 360                            359                               6.625
       16564083      G04                                     430028           2150.14                                 360                            359                                5.75
       16564084      G04                                 1223809.37           7443.23                                 360                            359                               5.875
       16564063      G04                                  491998.75           2818.74                                 360                            359                               6.625
       16564064      G04                                     525600            2956.5                                 360                            358                                 6.5
       16564065      G04                                     520000              2925                                 360                            359                                 6.5
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       16564067      G04                                  684999.99           3781.77                                 360                            358                               6.375
       16564068      G04                                  660855.83           3854.99                                 360                            359                                6.75
       16564069      G04                                     451950            2589.3                                 360                            358                               6.625
       16564070      G04                                     448000           2473.33                                 360                            359                               6.375
       16564071      G04                                     909712           5022.37                                 360                            359                               6.375
       16564072      G04                                     531437           2878.62                                 360                            359                                6.25
       16564073      G04                                     650000           3385.42                                 360                            359                                   6
       16564074      G04                                     576000              3120                                 360                            359                                6.25
       16564075      G04                                     585000           3290.63                                 360                            359                                 6.5
       16564076      G04                                     479000           2594.58                                 360                            358                                6.25
       16564078      G04                                  445786.74           2461.52                                 360                            358                               6.375
       16564079      G04                                     520000              2925                                 360                            359                                 6.5
       16564080      G04                                     575000           3114.58                                 360                            359                                6.25
       16564039      G04                                     650000           3656.25                                 360                            359                                 6.5
       16564040      G04                                   976118.2           5954.58                                 360                            357                               5.875
       16564041      G04                                     476500           2581.04                                 360                            357                                6.25
       16564042      G04                                    1250000           6901.04                                 360                            358                               6.375
       16564043      G04                                     569050           3023.08                                 360                            358                               6.125
       16564044      G04                                   563162.5           5133.33                                 360                            358                                6.75
       16564045      G04                                     519900           2978.59                                 360                            358                               6.625
       16564046      G04                                  463241.98           2316.39                                 360                            359                                5.75
       16564047      G04                                     447300           2516.06                                 360                            359                                 6.5
       16564048      G04                                   453979.2           2506.34                                 360                            359                               6.375
       16564049      G04                                  461669.82           3035.39                                 360                            359                               6.625
       16564050      G04                                     625600           3584.17                                 360                            359                               6.625
       16564051      G04                                    1500000           7343.75                                 360                            355                               5.625
       16564052      G04                                     514448           2679.42                                 360                            359                                   6
       16564053      G04                                  447199.48           2468.92                                 360                            358                               6.375
       16564054      G04                                     750000           4140.63                                 360                            358                               6.375
       16564055      G04                                     765000           4064.06                                 360                            358                               6.125
       16564056      G04                                     700000           3864.58                                 360                            359                               6.375
       16564057      G04                                  447999.91           2473.33                                 360                            358                               6.375
       16564058      G04                                     554400           3060.75                                 360                            358                               6.375
       16564059      G04                                     500000           2708.33                                 360                            358                                6.25
       16564060      G04                                     516000           2848.75                                 360                            358                               6.375
       16564061      G04                                     936000            5362.5                                 360                            358                               6.625
       16564062      G04                                  499525.58           3078.59                                 360                            359                                   6
       16564091      G04                                     807000           4455.31                                 360                            359                               6.375
       16564092      G04                                   457717.8           2383.95                                 360                            359                                   6
       16564093      G04                                     427000           2446.35                                 360                            359                               6.625
       16564094      G04                                  558293.67           3256.71                                 360                            359                                6.75
       16564095      G04                                     455000           2417.19                                 360                            359                               6.125
       16564096      G04                                     523000            2887.4                                 360                            359                               6.375
       16564097      G04                                     600000            3312.5                                 360                            359                               6.375
       16564098      G04                                  478649.45           2991.46                                 360                            359                               6.125
       16564099      G04                                     572000           2919.58                                 360                            358                               5.875
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       16564101      G04                                  497906.25           2593.26                                 360                            359                                   6
       16564102      G04                                     490000           2756.25                                 360                            359                                 6.5
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       16564104      G04                                  843568.95           4745.08                                 360                            359                                 6.5
       16564105      G04                                     592000           3391.67                                 360                            359                               6.625
       16564106      G04                                     796000           4643.33                                 360                            359                                6.75
       16564107      G04                                     512000              3040                                 360                            359                               6.875
       16564108      G04                                     608000              3230                                 360                            359                               6.125
       16564110      G04                                  441628.66           2903.63                                 360                            359                               6.625
       16564111      G04                                     583500           3221.41                                 360                            359                               6.375
       16564112      G04                                     423500            2426.3                                 360                            359                               6.625
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       16564086      G04                                     567000           3012.19                                 360                            359                               6.125
       16564087      G04                                  734335.55            4645.7                                 360                            359                                6.25
       16564088      G04                                     714670           3945.57                                 360                            359                               6.375
       16564089      G04                                     539825           2924.05                                 360                            359                                6.25
       16633710      G02                                  673668.85           3859.68                                 360                            359                               6.625
       16647980      G02                                     561000           2921.88                                 360                            360                                   6
       16647982      G02                                     544000              2720                                 360                            360                                5.75
       16647983      G02                                     720000              3600                                 360                            360                                5.75
       16647984      G02                                     421000           1973.44                                 360                            360                               5.375
       16647985      G02                                     480000              2550                                 360                            360                               6.125
       16647986      G02                                     560000           3091.67                                 360                            360                               6.375
       16647987      G02                                     588000              3185                                 360                            360                                6.25
       16647988      G02                                     590400            3259.5                                 360                            360                               6.375
       16647989      G02                                     547240           2964.22                                 360                            360                                6.25
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       16647917      G02                                     542000              2710                                 360                            360                                5.75
       16647918      G02                                     469250           2297.37                                 360                            360                               5.625
       16647919      G02                                     418000           2220.63                                 360                            360                               5.795
       16647920      G02                                     625000           2799.48                                 360                            360                               5.125
       16647921      G02                                     500000           2395.83                                 360                            360                                 5.5
       16647922      G02                                     716000           3729.17                                 360                            360                                   6
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       16647926      G02                                     576000              3000                                 360                            360                                   6
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       16647928      G02                                     628500            3142.5                                 360                            360                                5.75
       16647929      G02                                     457500           2192.19                                 360                            360                                 5.5
       16647930      G02                                     782500           5075.28                                 360                            360                                 6.5
       16647931      G02                                     441000           2434.69                                 360                            360                               6.375
       16647932      G02                                     456000            2232.5                                 360                            360                               5.625
       16647933      G02                                     423200           2336.42                                 360                            360                               6.375
       16647934      G02                                     560000           2566.67                                 360                            360                                5.25
       16647935      G02                                     551200           2870.83                                 360                            360                                   6
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       16647937      G02                                     937500           4882.81                                 360                            360                                   6
       16647939      G02                                     532000           2493.75                                 360                            360                               5.375
       16647940      G02                                     489600              2550                                 360                            360                                   6
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       16647942      G02                                     620000           3229.17                                 360                            360                                   6
       16647943      G02                                     766980           3994.69                                 360                            360                                   6
       16647944      G02                                     444000           2451.25                                 360                            360                               6.375
       16647945      G02                                     799488           4663.68                                 360                            360                                6.75
       16647946      G02                                     491600           2150.75                                 360                            360                                   5
       16647947      G02                                     840000              4200                                 360                            360                                5.75
       16647948      G02                                     662400              3450                                 360                            360                                   6
       16647949      G02                                     519000           2649.06                                 360                            360                               5.875
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       16647956      G02                                     630000           3281.25                                 360                            360                                   6
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       16647958      G02                                     910000              4550                                 360                            360                                5.75
       16647959      G02                                     436000           2316.25                                 360                            360                               6.125
       16647960      G02                                     654500            3272.5                                 360                            360                                5.75
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       16647962      G02                                     680000           3683.33                                 360                            360                                6.25
       16647963      G02                                     540000            2812.5                                 360                            360                                   6
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       16647965      G02                                     430000           2682.64                                 360                            360                               6.125
       16647966      G02                                     728000           4019.17                                 360                            360                               6.375
       16647967      G02                                     465000           2421.88                                 360                            360                                   6
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       16647969      G02                                     445000           1946.88                                 360                            360                                   5
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       16647971      G02                                     580000           3202.08                                 360                            360                               6.375
       16647972      G02                                     584500           3044.27                                 360                            360                                   6
       16647973      G02                                     429920           1970.47                                 360                            360                                5.25
       16647974      G02                                     486400              1976                                 360                            360                               4.625
       16647975      G02                                     594000           3155.63                                 360                            360                               5.635
       16647976      G02                                     482500            2161.2                                 360                            360                               5.125
       16647977      G02                                     760000           3958.33                                 360                            360                                   6
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       16647900      G02                                     485836           2631.61                                 360                            360                                6.25
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       16647912      G02                                     700000           3427.08                                 360                            360                               5.625
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       16647914      G02                                     925000           4528.65                                 360                            360                               5.625
       16647915      G02                                     460000           2347.92                                 360                            360                               5.875
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       16633921      G02                                     572000           2979.17                                 360                            360                                   6
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       16633924      G02                                     650000           3317.71                                 360                            360                               5.875
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       16633764      G02                                     816000           5090.78                                 360                            360                               6.125
       16633926      G02                                     492000           2408.75                                 360                            360                               5.625
       16633765      G02                                     747000           3890.63                                 360                            360                                   6
       16633927      G02                                     590600           3540.95                                 360                            360                                5.75
       16633766      G02                                     611050           3182.55                                 360                            360                                   6
       16633928      G02                                     576000              2820                                 360                            360                               5.625
       16633929      G02                                     420000           2231.25                                 360                            360                               6.125
       16633768      G02                                  464267.75           2866.78                                 360                            357                                   6
       16633769      G02                                     528000              2860                                 360                            360                                6.25
       16633930      G02                                     900000           4593.75                                 360                            360                               5.875
       16633931      G02                                     471920           2703.71                                 360                            360                               6.625
       16633932      G02                                     484000           2520.83                                 360                            360                                   6
       16633770      G02                                     592000           3268.33                                 360                            360                               6.375
       16633771      G02                                    1000000           5416.67                                 360                            359                                6.25
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       16633934      G02                                     515005           2682.32                                 360                            360                                   6
       16633772      G02                                     467000           2529.58                                 360                            360                                6.25
       16633773      G02                                     806923           2683.02                                 360                            360                                3.74
       16633935      G02                                     650000           3927.08                                 360                            360                                   7
       16633774      G02                                     650000           3723.96                                 360                            360                               6.625
       16633936      G02                                     880000              3850                                 360                            360                                   5
       16633937      G02                                     810000           4218.75                                 360                            360                                   6
       16633938      G02                                     594400           2786.25                                 360                            360                               5.375
       16633776      G02                                     472000           2851.67                                 360                            359                                   7
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       16633777      G02                                     500000           2760.42                                 360                            359                               6.375
       16633778      G02                                     620000           2841.67                                 360                            360                                5.25
       16633940      G02                                     513600            2621.5                                 360                            360                               5.875
       16633941      G02                                     800000              4000                                 360                            360                                5.75
       16633780      G02                                     625900           2081.12                                 360                            360                                3.74
       16633943      G02                                     740000           3931.25                                 360                            360                               6.125
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       16633782      G02                                     429450           1427.92                                 360                            360                                3.74
       16633944      G02                                     476800              2384                                 360                            360                                5.75
       16633945      G02                                     535000           3009.38                                 360                            360                                 6.5
       16633783      G02                                     452400           2676.12                                 360                            360                               5.625
       16633784      G02                                     650000           3317.71                                 360                            360                               5.875
       16633946      G02                                     650000           3520.83                                 360                            360                                6.25
       16633947      G02                                     632000           3942.86                                 360                            360                               6.125
       16633785      G02                                     535200           2731.75                                 360                            360                               5.875
       16633786      G02                                     496000           2841.67                                 360                            357                               6.625
       16633948      G02                                     457500           2573.44                                 360                            360                                 6.5
       16633787      G02                                     650000           3723.96                                 360                            360                               6.625
       16633949      G02                                     486500           2685.89                                 360                            360                               6.375
       16633788      G02                                    1500000            7812.5                                 360                            360                                   6
       16633789      G02                                     570000           2671.88                                 360                            360                               5.375
       16633790      G02                                     474692            2521.8                                 360                            360                               6.125
       16633791      G02                                     436000           2225.42                                 360                            360                               5.875
       16633792      G02                                     512000           2773.33                                 360                            360                                6.25
       16633793      G02                                    1070000           5684.38                                 360                            360                               6.125
       16633794      G02                                     624000              3250                                 360                            360                                   6
       16633795      G02                                     490234           2297.97                                 360                            360                               5.375
       16633796      G02                                     650000           3453.13                                 360                            360                               6.125
       16633797      G02                                     628000            3532.5                                 360                            360                                 6.5
       16633798      G02                                     713000           4743.61                                 360                            360                                6.75
       16633799      G02                                     520000           3244.12                                 360                            360                               6.125
       16633709      G02                                  468884.33           2892.93                                 360                            358                                   6
       16633712      G02                                     741839           3941.02                                 360                            358                               6.125
       16633713      G02                                     500944           2817.81                                 360                            360                                 6.5
       16633714      G02                                     650000           3520.83                                 360                            359                                6.25
       16633715      G02                                    1200000              6375                                 360                            360                               6.125
       16633716      G02                                     526000           2575.21                                 360                            360                               5.625
       16633717      G02                                     688000           3726.67                                 360                            358                                6.25
       16633718      G02                                  999051.16           6157.17                                 360                            359                                   6
       16633719      G02                                     466691              2139                                 360                            359                                5.25
       16633720      G02                                     512000           2453.33                                 360                            359                                 5.5
       16633721      G02                                    1200000              6000                                 360                            360                                5.75
       16633722      G02                                     879200            4945.5                                 360                            360                                 6.5
       16633723      G02                                     637600           3652.92                                 360                            359                               6.625
       16633724      G02                                     532000           2881.67                                 360                            358                                6.25
       16633725      G02                                     431000           2334.58                                 360                            359                                6.25
       16633726      G02                                     474000           2221.88                                 360                            359                               5.375
       16647891      G02                                     433600           2393.83                                 360                            360                               6.375
       16647892      G02                                     500000           2604.17                                 360                            360                                   6
       16647893      G02                                     629200           3080.46                                 360                            360                               5.625
       16647895      G02                                     636000            3577.5                                 360                            360                                 6.5
       16647896      G02                                     649500           4158.82                                 360                            360                               6.375
       16647897      G02                                     552000              3105                                 360                            360                                 6.5
       16647898      G02                                     590000           3257.29                                 360                            360                               6.005
       16647899      G02                                     550000           3521.71                                 360                            360                               6.375
       16647835      G02                                     541295           2706.48                                 360                            360                                5.75
       16647836      G02                                     445000           2549.48                                 360                            360                               6.625
       16647837      G02                                     768000              4160                                 360                            357                                6.25
       16647838      G02                                     593600            3153.5                                 360                            360                               6.125
       16647839      G02                                     458104           2529.12                                 360                            360                               6.375
       16647840      G02                                     740000           4085.42                                 360                            360                               6.375
       16647841      G02                                     427000            2357.4                                 360                            360                               6.375
       16647844      G02                                     684000           3633.75                                 360                            360                               6.125
       16647846      G02                                     720000              4275                                 360                            360                               6.875
       16647848      G02                                     581000           2844.48                                 360                            360                               5.625
       16647849      G02                                     647500           3574.74                                 360                            360                               6.375
       16647850      G02                                     457000            2332.6                                 360                            360                               5.875
       16647851      G02                                     515000           2789.58                                 360                            358                                6.25
       16647852      G02                                     472000           2458.33                                 360                            360                                   6
       16647853      G02                                     530000           3263.31                                 360                            360                                   6
       16647854      G02                                     515920           3117.02                                 360                            360                                   7
       16647855      G02                                     492000           2408.75                                 360                            360                               5.625
       16647856      G02                                     423312           2381.13                                 360                            360                                 6.5
       16647857      G02                                     550000           2692.71                                 360                            360                               5.625
       16647858      G02                                     456000              2565                                 360                            360                                 6.5
       16647859      G02                                     528001           2915.01                                 360                            360                               6.375
       16647860      G02                                     818400           4347.75                                 360                            360                               6.125
       16647861      G02                                     471800           2555.58                                 360                            360                                6.25
       16647862      G02                                     712500           3636.72                                 360                            360                               5.875
       16647864      G02                                     754000           4005.63                                 360                            360                               6.125
       16647865      G02                                     650000           3453.13                                 360                            360                               6.125
       16647866      G02                                     744000              4185                                 360                            360                                 6.5
       16647867      G02                                     614400              3520                                 360                            360                               6.625
       16647868      G02                                     425500           2349.11                                 360                            360                               6.375
       16647869      G02                                     500000           3242.99                                 360                            360                                 6.5
       16647870      G02                                     420000           2056.25                                 360                            360                               5.625
       16647871      G02                                     576000              3000                                 360                            360                                   6
       16647873      G02                                     536000           2735.83                                 360                            360                               5.875
       16647874      G02                                     628000            3532.5                                 360                            360                                 6.5
       16647875      G02                                     680000              3825                                 360                            360                                 6.5
       16647876      G02                                     790150           4115.36                                 360                            360                                   6
       16647877      G02                                    1200000              6500                                 360                            359                                6.25
       16647878      G02                                     727200              3939                                 360                            360                                6.25
       16647880      G02                                     650000           3453.13                                 360                            360                               6.125
       16647881      G02                                     495696           2839.93                                 360                            360                               6.625
       16647882      G02                                     428000           2184.58                                 360                            358                               5.875
       16647883      G02                                     560000              2975                                 360                            360                               6.125
       16647884      G02                                     999900           5207.81                                 360                            360                                   6
       16647885      G02                                    1000000           5416.67                                 360                            360                                6.25
       16647886      G02                                     464000           2368.33                                 360                            360                               5.875
       16647887      G02                                     671300           3496.35                                 360                            360                                   6
       16647888      G02                                     620000           3717.21                                 360                            360                                5.75
       16647889      G02                                     520000            2762.5                                 360                            358                               6.125
       16647890      G02                                     628000            3532.5                                 360                            360                                 6.5
       16633881      G02                                     599000            3057.4                                 360                            360                               5.875
       16633882      G02                                     999900           5207.81                                 360                            360                                   6
       16633883      G02                                     428000           2184.58                                 360                            360                               5.875
       16633884      G02                                     496000           2583.33                                 360                            360                                   6
       16633885      G02                                     935550           5760.34                                 360                            360                                   6
       16633886      G02                                     429224           1922.57                                 360                            360                               5.125
       16633887      G02                                     455920           2564.55                                 360                            360                                 6.5
       16633888      G02                                     548500           3313.85                                 360                            360                                6.51
       16633889      G02                                     529520           2482.13                                 360                            360                               5.375
       16633890      G02                                     536000              3015                                 360                            360                                 6.5
       16633891      G02                                     455000           2951.12                                 360                            360                                 6.5
       16633892      G02                                     529600           2868.67                                 360                            360                                6.25
       16633893      G02                                    1482000           9004.79                                 360                            360                               5.875
       16633894      G02                                    1029073           6002.93                                 360                            360                                6.75
       16633895      G02                                     999999           5312.49                                 360                            360                               6.125
       16633896      G02                                     503136           2148.81                                 360                            360                               4.875
       16633897      G02                                     669930           3419.43                                 360                            360                               5.875
       16633898      G02                                     552000              2990                                 360                            360                                6.25
       16633899      G02                                     448000           2426.67                                 360                            360                                6.25
       16633900      G02                                    1000000           4791.67                                 360                            360                                 5.5
       16633901      G02                                     480000              2700                                 360                            360                                 6.5
       16633740      G02                                     572350           3219.47                                 360                            360                                 6.5
       16633902      G02                                     485000           2576.56                                 360                            360                               6.125
       16633741      G02                                     600000              3375                                 360                            359                                 6.5
       16633903      G02                                    1065000           5214.06                                 360                            360                               5.625
       16633904      G02                                     880000           4766.67                                 360                            360                                6.25
       16633742      G02                                     510000           2709.38                                 360                            359                               6.125
       16633905      G02                                     502000           2823.75                                 360                            360                                 6.5
       16633743      G02                                     630000           3346.88                                 360                            358                               6.125
       16633744      G02                                     520000            2762.5                                 360                            360                               6.125
       16633906      G02                                    1050000            5687.5                                 360                            360                                6.25
       16633907      G02                                     420000            2362.5                                 360                            360                                 6.5
       16633745      G02                                     655380           2867.38                                 360                            359                                   5
       16633908      G02                                     547500           2965.63                                 360                            360                                6.25
       16633746      G02                                     500000           2708.33                                 360                            359                                6.25
       16633909      G02                                     595000           3098.96                                 360                            360                                   6
       16633747      G02                                     718432           3292.81                                 360                            359                                5.25
       16633748      G02                                     600000              3625                                 360                            360                                   7
       16633749      G02                                     600000            3437.5                                 360                            359                               6.625
       16648000      G02                                     760000           4617.84                                 360                            360                               5.875
       16648002      G02                                     543920           2606.28                                 360                            360                                 5.5
       16648003      G02                                     736184           3910.98                                 360                            360                               6.125
       16633910      G02                                     456000              2660                                 360                            360                                6.75
       16633911      G02                                     608000              3040                                 360                            360                                5.75
       16633912      G02                                     650000              3250                                 360                            360                                5.75
       16633850      G02                                     532000           2715.42                                 360                            360                               5.875
       16633851      G02                                     425000              2125                                 360                            360                                5.75
       16633852      G02                                     504000            2572.5                                 360                            360                               5.875
       16633853      G02                                     462000           2454.38                                 360                            360                               6.125
       16633854      G02                                     479999           2749.99                                 360                            360                               6.625
       16633855      G02                                     606400           3158.33                                 360                            360                                   6
       16633856      G02                                     430400           2465.83                                 360                            360                               6.625
       16633857      G02                                     662220           3173.14                                 360                            360                                 5.5
       16633858      G02                                     508500           2966.25                                 360                            360                                6.36
       16633859      G02                                     511000           2821.15                                 360                            360                               6.375
       16633860      G02                                     448000           2426.67                                 360                            360                                6.25
       16633861      G02                                     514400           2839.92                                 360                            360                               6.375
       16633862      G02                                     476000           2429.58                                 360                            360                               5.875
       16633863      G02                                     571000           3211.88                                 360                            360                                 6.5
       16633864      G02                                     440000           2154.17                                 360                            360                               5.625
       16633865      G02                                     708000           4056.25                                 360                            360                               6.625
       16633866      G02                                     703192           3149.71                                 360                            360                               5.125
       16633867      G02                                     575000           2755.21                                 360                            360                                 5.5
       16633868      G02                                    1000000            5937.5                                 360                            360                               6.875
       16633869      G02                                     650000           3182.29                                 360                            360                               5.625
       16633870      G02                                     420000           2620.25                                 360                            360                               6.125
       16633871      G02                                     600000            2937.5                                 360                            360                               5.625
       16633872      G02                                    1000000              5625                                 360                            360                                 6.5
       16633873      G02                                     424000           2164.17                                 360                            360                               5.875
       16633874      G02                                     623200           3570.42                                 360                            360                               6.625
       16633875      G02                                     534000            2892.5                                 360                            360                                6.25
       16633876      G02                                     650000           3656.25                                 360                            360                                 6.5
       16633877      G02                                     680000           3258.33                                 360                            360                                 5.5
       16633878      G02                                     509400           3136.46                                 360                            360                                   6
       16633879      G02                                     550000           2921.88                                 360                            360                               6.125
       16633880      G02                                     440000           2291.67                                 360                            360                                   6
       16633711      G02                                  541642.01           3272.42                                 360                            360                               6.375
       16633831      G02                                     494350           2677.73                                 360                            360                                6.25
       16633727      G02                                     477000           2534.06                                 360                            359                               6.125
       16633728      G02                                   670412.6           4302.89                                 360                            359                               6.375
       16633729      G02                                     434000           2486.46                                 360                            359                               6.625
       16633730      G02                                     471336           2405.78                                 360                            359                               5.875
       16633731      G02                                     868000            4882.5                                 360                            359                                 6.5
       16633732      G02                                     487920           2337.95                                 360                            359                                 5.5
       16633733      G02                                     487500           2691.41                                 360                            360                               6.375
       16633734      G02                                     500000           2447.92                                 360                            360                               5.625
       16633735      G02                                  436124.17           2831.14                                 360                            359                                 6.5
       16633736      G02                                     450000           2718.75                                 360                            360                                   7
       16633737      G02                                  459946.49           2539.58                                 360                            358                               6.375
       16633738      G02                                 1498542.09           9114.16                                 360                            359                               5.875
       16633739      G02                                     726000            4952.6                                 360                            360                                   7
       16633843      G02                                     512000           2826.67                                 360                            360                               6.375
       16633844      G02                                     607000           3161.46                                 360                            360                                   6
       16633845      G02                                     520000              2600                                 360                            360                                5.75
       16633846      G02                                     500000           2656.25                                 360                            360                               6.125
       16633847      G02                                     670000           3489.58                                 360                            360                                   6
       16633848      G02                                     480000              2600                                 360                            360                                6.25
       16633849      G02                                     426616           2133.08                                 360                            360                                5.75
       16633838      G02                                     466400           2380.58                                 360                            360                               5.875
       16633839      G02                                     760000              4750                                 360                            360                                7.25
       16633840      G02                                     470000           2496.88                                 360                            360                               6.125
       16633841      G02                                     429000           2279.06                                 360                            360                               6.125
       16633842      G02                                     600000              3125                                 360                            360                                   6
       16633821      G02                                     532000           2881.67                                 360                            360                                5.65
       16633822      G02                                    1000000           5729.17                                 360                            360                               6.625
       16633823      G02                                     700000           4310.02                                 360                            360                                   6
       16633824      G02                                     651600           3393.75                                 360                            360                                   6
       16633825      G02                                     525000           3232.52                                 360                            360                                   6
       16633826      G02                                     436000           2614.04                                 360                            360                                5.75
       16633827      G02                                    1000000           5104.17                                 360                            360                               5.875
       16633828      G02                                     608063           3420.35                                 360                            360                                 6.5
       16633829      G02                                     472000           3140.23                                 360                            360                                6.75
       16633830      G02                                    1000000           5729.17                                 360                            360                               6.625
       16633832      G02                                     865500           4778.28                                 360                            360                               6.375
       16633833      G02                                     480750            2754.3                                 360                            360                               6.625
       16633834      G02                                     622500           3371.88                                 360                            360                                6.25
       16633835      G02                                     470000           3087.57                                 360                            360                               6.625
       16633836      G02                                    1000000           5104.17                                 360                            360                               5.875
       16633837      G02                                     516000           3052.33                                 360                            360                               5.625
       16633817      G02                                     636320           3645.58                                 360                            360                               6.625
       16633818      G02                                    1000000           4166.67                                 360                            360                                4.75
       16633819      G02                                     432000              2385                                 360                            360                               6.375
       16633820      G02                                     744000              3720                                 360                            360                                5.75
       16633815      G02                                     552000              3105                                 360                            360                                 6.5
       16633816      G02                                     620000           3422.92                                 360                            360                               6.375
       16633814      G02                                     462000           2550.62                                 360                            360                               6.375
       16633804      G02                                     478000           2539.38                                 360                            360                               6.125
       16633805      G02                                     552000           3626.25                                 360                            360                               6.625
       16633806      G02                                     700000           4310.02                                 360                            360                                   6
       16633807      G02                                     418000           2046.46                                 360                            360                               5.625
       16633808      G02                                     475000            2622.4                                 360                            360                               6.375
       16633809      G02                                     497000           2743.85                                 360                            360                               6.375
       16633810      G02                                     711200           3778.25                                 360                            360                               6.125
       16633811      G02                                     450000           2343.75                                 360                            360                                   6
       16633812      G02                                     650000           3791.67                                 360                            360                                6.75
       16633813      G02                                     804000              4355                                 360                            360                                6.25
       16633800      G02                                     900000           4781.25                                 360                            360                               6.125
       16633801      G02                                     628000           3401.67                                 360                            360                                6.25
       16633802      G02                                     720000              4050                                 360                            360                                 6.5
       16633803      G02                                     741600              3399                                 360                            360                                5.25
       16647991      G02                                     630000           3777.17                                 360                            360                                5.75
       16647992      G02                                     471400           2258.79                                 360                            360                                 5.5
       16647993      G02                                     650000           3385.42                                 360                            360                                   6
       16647994      G02                                     511200           2502.75                                 360                            360                               5.625
       16647995      G02                                     420000           2231.25                                 360                            360                               6.125
       16647996      G02                                     620000           3358.33                                 360                            360                                6.25
       16647997      G02                                     515000           2843.23                                 360                            360                               6.375
       16647998      G02                                     963750           5421.09                                 360                            360                                 6.5
       16647999      G02                                     818400           4177.25                                 360                            360                               5.875
       16634866      G03                                  461577.16           2598.61                                 360                            359                                 6.5
       16634871      G03                                     811360           4732.93                                 360                            360                                6.75
       16635203      G03                                     626000           3905.43                                 360                            360                               6.125
       16635204      G03                                    1085000           5877.08                                 360                            360                                6.25
       16635042      G03                                     510000           2178.13                                 360                            360                               4.875
       16635205      G03                                     452000            2542.5                                 360                            360                                 6.5
       16635044      G03                                     566101           3184.32                                 360                            360                                 6.5
       16635208      G03                                     544000           3116.67                                 360                            360                               6.625
       16635048      G03                                     779232           4139.67                                 360                            360                               6.125
       16635049      G03                                     803200           4601.67                                 360                            360                               6.625
       16635210      G03                                     448000              2380                                 360                            360                               6.125
       16635211      G03                                     766400           4151.33                                 360                            360                                6.25
       16635050      G03                                  952052.85           4958.61                                 360                            359                                   6
       16635213      G03                                     693000           3898.13                                 360                            360                                 6.5
       16635052      G03                                     799200            4162.5                                 360                            360                                   6
       16635215      G03                                     504000              2835                                 360                            359                                 6.5
       16635216      G03                                     488000           2643.33                                 360                            360                                6.25
       16635218      G03                                     510000           2709.38                                 360                            360                               6.125
       16635056      G03                                    1750000          10026.04                                 360                            360                               6.625
       16635057      G03                                     799200           4412.25                                 360                            360                               6.375
       16635059      G03                                     500000           2760.42                                 360                            360                               6.375
       16635001      G03                                     685000           3995.83                                 360                            360                                6.75
       16635002      G03                                     617500           3409.11                                 360                            360                               6.375
       16635005      G03                                     960000              5400                                 360                            360                                 6.5
       16635006      G03                                     640000           3466.67                                 360                            360                                6.25
       16635007      G03                                     599950           3187.23                                 360                            359                               6.125
       16635009      G03                                  459494.24           2944.79                                 360                            359                               6.375
       16635010      G03                                     480000              2700                                 360                            360                                 6.5
       16635012      G03                                     444000           2358.75                                 360                            360                               6.125
       16635014      G03                                     590000           3380.21                                 360                            360                               6.625
       16635020      G03                                  447104.09           2683.11                                 360                            358                                5.74
       16635024      G03                                     425400           2304.25                                 360                            360                                6.25
       16635025      G03                                    1000000           5520.83                                 360                            360                               6.375
       16635026      G03                                     476000           2528.75                                 360                            360                               6.125
       16635027      G03                                     476532           2531.58                                 360                            360                               6.125
       16635028      G03                                     999999           5104.16                                 360                            360                               5.875
       16635029      G03                                     547711           2852.66                                 360                            360                                   6
       16635030      G03                                     650000           3588.54                                 360                            360                               6.375
       16635031      G03                                     630000           3543.75                                 360                            359                                 6.5
       16635033      G03                                     730256           4107.69                                 360                            360                                 6.5
       16635038      G03                                    1145000           6202.08                                 360                            360                                6.25
       16635039      G03                                     999000           5619.38                                 360                            360                                 6.5
       16635200      G03                                     450000              2250                                 360                            360                                5.75
       16635201      G03                                     441600              2300                                 360                            360                                   6
       16635202      G03                                    1050600           5690.75                                 360                            360                                6.25
       16635040      G03                                     424000           2075.83                                 360                            360                               5.625
       16167018      G03                                     852000           5058.75                                 360                            353                               6.875
       16634855      G03                                  660078.73           3804.23                                 360                            359                               5.375
       16634856      G03                                     600000              3250                                 360                            360                                6.25
       16634859      G03                                     937500           5175.78                                 360                            360                               6.375
       16634860      G03                                     500000           2395.83                                 360                            360                                 5.5
       16634861      G03                                     593004           2347.31                                 360                            360                                 4.5
       16634863      G03                                  574303.33            3350.1                                 360                            358                                6.75
       16634865      G03                                   525864.6           3117.06                                 360                            358                               5.625
       16634868      G03                                  678540.97           4022.04                                 360                            358                               5.625
       16634869      G03                                     440875           2479.92                                 360                            360                                 6.5
       16634870      G03                                     668000            3757.5                                 360                            360                                 6.5
       16634872      G03                                  487714.24           2692.59                                 360                            355                               6.375
       16634873      G03                                     636695           3316.12                                 360                            360                                   6
       16634874      G03                                   508011.1           3184.23                                 360                            355                               6.125
       16634877      G03                                  465257.84           2423.22                                 360                            355                                   6
       16634880      G03                                     423200           2248.25                                 360                            356                               6.125
       16634883      G03                                     482000           2560.63                                 360                            357                               6.125
       16634884      G03                                     565000           2883.85                                 360                            358                               5.875
       16634886      G03                                  733482.22           4765.57                                 360                            358                                 6.5
       16634888      G03                                     739300           4081.55                                 360                            360                               6.375
       16634890      G03                                     485905            2682.6                                 360                            360                               6.375
       16634893      G03                                     540000           3502.43                                 360                            360                                 6.5
       16634895      G03                                     484000           2571.25                                 360                            360                               6.125
       16635159      G03                                     460000           2539.58                                 360                            360                               6.375
       16635162      G03                                     441000           2526.56                                 360                            360                               6.625
       16635163      G03                                     795000           4306.25                                 360                            360                                6.25
       16635165      G03                                     560000           3033.33                                 360                            360                                6.25
       16635167      G03                                     449560           2481.95                                 360                            360                               6.375
       16635168      G03                                     488000           2643.33                                 360                            360                                6.25
       16635169      G03                                     503200            2830.5                                 360                            360                                 6.5
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       16635174      G03                                     750400           4142.83                                 360                            360                               6.375
       16635175      G03                                     508000           2751.67                                 360                            360                                6.25
       16635176      G03                                     840000            4462.5                                 360                            360                               6.125
       16635178      G03                                     560000              2975                                 360                            360                               6.125
       16635184      G03                                     435000           2492.19                                 360                            360                               6.625
       16635143      G03                                     750000            4062.5                                 360                            360                                6.25
       16635306      G03                                     825000           4640.63                                 360                            360                                 6.5
       16635145      G03                                     830000           4409.38                                 360                            360                               6.125
       16635146      G03                                     430000           2753.34                                 360                            360                               6.375
       16635147      G03                                     551000           2927.19                                 360                            360                               6.125
       16635149      G03                                     432600           2703.75                                 360                            360                                7.25
       16635313      G03                                    1000000           4791.67                                 360                            360                                 5.5
       16635151      G03                                     581680           3271.95                                 360                            360                                 6.5
       16635153      G03                                     572000           3038.75                                 360                            360                               6.125
       16635138      G03                                     475200              2574                                 360                            360                                6.25
       16635139      G03                                     602000           3323.54                                 360                            360                               6.375
       16635140      G03                                     467500            2434.9                                 360                            360                                   6
       16635141      G03                                     459300           2631.41                                 360                            360                               6.625
       16635120      G03                                     428000           2318.33                                 360                            360                                6.25
       16635121      G03                                     595509           2977.55                                 360                            360                                5.75
       16635123      G03                                    1000000              5625                                 360                            360                                 6.5
       16635124      G03                                     880000           5041.67                                 360                            360                               6.625
       16635126      G03                                     428000           2184.58                                 360                            360                               5.875
       16635128      G03                                     632000           3423.33                                 360                            360                                6.25
       16635129      G03                                     437000           2276.04                                 360                            360                                   6
       16635132      G03                                     448000           2566.67                                 360                            360                               6.625
       16635133      G03                                     715000           4021.88                                 360                            360                                 6.5
       16635135      G03                                     437251           2550.63                                 360                            360                                6.75
       16635102      G03                                     510800           2820.04                                 360                            359                               6.375
       16635103      G03                                     800000           4416.67                                 360                            360                               6.375
       16635105      G03                                     685350           3997.88                                 360                            360                                6.75
       16635106      G03                                     836000           4789.58                                 360                            360                               6.625
       16635107      G03                                     500000           2656.25                                 360                            360                               6.125
       16635110      G03                                    1372000           8447.64                                 360                            360                                   6
       16635112      G03                                     528000              2860                                 360                            360                                6.25
       16635113      G03                                     550000              2750                                 360                            360                                5.75
       16635114      G03                                     850000           4692.71                                 360                            360                               6.375
       16635116      G03                                     495000            2887.5                                 360                            360                                6.75
       16635118      G03                                     700000           3718.75                                 360                            360                               6.125
       16635119      G03                                     530000           2815.63                                 360                            360                               6.125
       16634998      G03                                     608000              3420                                 360                            360                                 6.5
       16634986      G03                                     672000              3710                                 360                            360                               6.375
       16634987      G03                                     452000           2354.17                                 360                            360                                   6
       16634990      G03                                     469150           2638.97                                 360                            360                                 6.5
       16634994      G03                                     450000           2296.88                                 360                            360                               5.875
       16634995      G03                                     982500           5628.91                                 360                            359                               6.625
       16634996      G03                                     710700           3997.69                                 360                            360                                 6.5
       16634975      G03                                     725300           4584.39                                 360                            360                                6.25
       16634977      G03                                     592000           3268.33                                 360                            360                               6.375
       16634979      G03                                     620000           3358.33                                 360                            360                                6.25
       16634980      G03                                     650000           4162.02                                 360                            360                               6.375
       16634981      G03                                     520000              2925                                 360                            360                                 6.5
       16634951      G03                                  469999.87           2545.83                                 360                            358                                6.25
       16634956      G03                                     452000           2354.17                                 360                            360                                   6
       16634960      G03                                     736000           4523.33                                 360                            359                               7.125
       16634963      G03                                 1734212.07          11693.06                                 360                            359                               6.875
       16634964      G03                                     630000            3412.5                                 360                            358                                6.25
       16634965      G03                                     456000            2327.5                                 360                            359                               5.875
       16634968      G03                                     647000           3504.58                                 360                            360                                6.25
       16634970      G03                                     470000           2643.75                                 360                            360                                 6.5
       16634971      G03                                     980050           5716.96                                 360                            359                                6.75
       16634935      G03                                     530900           2820.41                                 360                            360                               6.125
       16634939      G03                                     510000           2815.63                                 360                            359                               6.375
       16634940      G03                                     568000              3195                                 360                            359                                 6.5
       16634942      G03                                  799311.22           5188.78                                 360                            359                                 6.5
       16634944      G03                                     812000           4482.92                                 360                            358                               6.375
       16634946      G03                                     506000           2846.25                                 360                            359                                 6.5
       16634948      G03                                     518700           2491.67                                 360                            355                                 5.5
       16634949      G03                                     420000            2362.5                                 360                            360                                 6.5
       16634950      G03                                     571200            3153.5                                 360                            359                               6.375
       16634904      G03                                     544000              2890                                 360                            357                               6.125
       16634906      G03                                     526000              2630                                 360                            360                                5.75
       16634914      G03                                  899060.34           5252.16                                 360                            359                                 5.5
       16634917      G03                                     468000              2535                                 360                            359                                6.25
       16634919      G03                                     536000              3015                                 360                            359                                 6.5
       16634921      G03                                     696000            3842.5                                 360                            358                               6.375
       16634922      G03                                     709850           3992.91                                 360                            359                                 6.5
       16634926      G03                                    1000000              5625                                 360                            359                                 6.5
       16634929      G03                                     650000           3656.25                                 360                            359                                 6.5
       16634930      G03                                     467950           2680.96                                 360                            359                               6.625
       16634932      G03                                     465500           2763.91                                 360                            358                               6.875
       16635185      G03                                     524000           2783.75                                 360                            360                               6.125
       16635186      G03                                     524000           2783.75                                 360                            360                               6.125
       16635188      G03                                     520000           2979.17                                 360                            360                               6.625
       16635191      G03                                     591500           3327.19                                 360                            360                                 6.5
       16635192      G03                                     480000              2600                                 360                            360                                6.25
       16635193      G03                                     458000           2528.54                                 360                            360                               6.375
       16635194      G03                                     425600           2216.67                                 360                            360                                   6
       16634900      G03                                     500000           3119.35                                 360                            360                               6.125
       16634901      G03                                    1000000              5625                                 360                            360                                 6.5
       16635292      G03                                    1700000           8145.83                                 360                            360                                 5.5
       16635293      G03                                    1365000           7393.75                                 360                            360                                6.25
       16635278      G03                                     615000           3459.38                                 360                            360                                 6.5
       16635271      G03                                     645000           3426.56                                 360                            360                               6.125
       16635262      G03                                     728000           3943.33                                 360                            360                                6.25
       16635263      G03                                     736000              3680                                 360                            360                                5.75
       16635267      G03                                     585000           2985.94                                 360                            360                               5.875
       16635268      G03                                     471000           2453.13                                 360                            360                                   6
       16635094      G03                                    1100000           5843.75                                 360                            360                               6.125
       16635095      G03                                     517000           3267.79                                 360                            360                                6.25
       16635258      G03                                     720000              3825                                 360                            360                               6.125
       16635259      G03                                     600000            3312.5                                 360                            360                               6.375
       16635097      G03                                     420000           2406.25                                 360                            360                               6.625
       16635098      G03                                     577000           3005.21                                 360                            360                                   6
       16635260      G03                                     619000            2772.6                                 360                            360                               5.125
       16635071      G03                                     500000           3201.55                                 360                            360                               6.375
       16635234      G03                                     644800              3224                                 360                            360                                5.75
       16635072      G03                                     493520            2467.6                                 360                            360                                5.75
       16635073      G03                                    1000000           5416.67                                 360                            359                                6.25
       16635236      G03                                     806000           4197.92                                 360                            360                                   6
       16635074      G03                                     600000            3312.5                                 360                            360                               6.375
       16635237      G03                                     510000           2709.38                                 360                            360                               6.125
       16635238      G03                                     630000            3412.5                                 360                            360                                6.25
       16635076      G03                                    1000000           5416.67                                 360                            360                                6.25
       16635239      G03                                    1225000           5742.19                                 360                            360                               5.375
       16635078      G03                                     600000              3250                                 360                            360                                6.25
       16635079      G03                                     749250           4797.53                                 360                            360                               6.375
       16635240      G03                                    1000000            5312.5                                 360                            360                               6.125
       16635242      G03                                     606000           3156.25                                 360                            360                                   6
       16635243      G03                                    1500000           9358.05                                 360                            360                               6.125
       16635083      G03                                     609500           3237.97                                 360                            360                               6.125
       16635085      G03                                     487509           2589.89                                 360                            360                               6.125
       16635248      G03                                     960000           5833.06                                 360                            360                               5.875
       16635086      G03                                     747960           3817.71                                 360                            360                               5.875
       16635087      G03                                     735000              3675                                 360                            360                                5.75
       16635088      G03                                     594000           3279.38                                 360                            360                               6.375
       16635089      G03                                     768000              4240                                 360                            360                               6.375
       16635250      G03                                     600000           3792.41                                 360                            360                                6.25
       16635252      G03                                     592000              3145                                 360                            360                               6.125
       16635253      G03                                   696791.2           3629.12                                 360                            360                                   6
       16635254      G03                                     960000              5200                                 360                            360                                6.25
       16635093      G03                                     528000              2915                                 360                            360                               6.375
       16635231      G03                                     480000              2600                                 360                            360                                6.25
       16635232      G03                                    1780000           9085.42                                 360                            360                               5.875
       16635220      G03                                     503200              2516                                 360                            360                                5.75
       16635222      G03                                     600000              3250                                 360                            360                                6.25
       16635060      G03                                     450000           2390.63                                 360                            360                               6.125
       16635224      G03                                     600000            3437.5                                 360                            360                               6.625
       16635062      G03                                     600000            3187.5                                 360                            360                               6.125
       16635063      G03                                     534815           3008.33                                 360                            360                                 6.5
       16635226      G03                                     580000            3262.5                                 360                            360                                 6.5
       16635227      G03                                     544700           3120.68                                 360                            360                               6.625
       16635228      G03                                     525000           2734.38                                 360                            360                                   6
       16635229      G03                                     455000           2464.58                                 360                            360                                6.25
       16635067      G03                                     482720           2614.73                                 360                            360                                6.25
       16635068      G03                                     615200           3268.25                                 360                            360                               6.125
       16639196      G03                                     596400           3044.13                                 360                            360                               5.875
       16639197      G03                                     642350           3278.66                                 360                            360                               5.875
       16639198      G03                                     521000           2930.63                                 360                            360                                 6.5
       16639199      G03                                     596000           3228.33                                 360                            359                                6.25
       16639190      G03                                     632000           3686.67                                 360                            359                                6.75
       16639191      G03                                     911400           5031.69                                 360                            360                               6.375
       16639192      G03                                    1000000           5729.17                                 360                            359                               6.625
       16639193      G03                                    1793400           9901.06                                 360                            359                               6.375
       16639194      G03                                     512450           2935.91                                 360                            359                               6.625
       16639195      G03                                     700000           4083.33                                 360                            360                                6.75
       16639309      G03                                     428000           2670.16                                 360                            360                               6.125
       16639311      G03                                     910000           4929.17                                 360                            360                                6.25
       16639312      G03                                    1000000              5000                                 360                            360                                5.75
       16639313      G03                                     570000           3146.88                                 360                            360                               6.375
       16639314      G03                                     922250           4419.11                                 360                            360                                 5.5
       16639315      G03                                     524000           2674.58                                 360                            360                               5.875
       16639316      G03                                     809500           4384.79                                 360                            360                                6.25
       16639317      G03                                     560000           3033.33                                 360                            360                                6.25
       16639318      G03                                     780000           4676.49                                 360                            360                                5.75
       16639319      G03                                     495200            2785.5                                 360                            360                                 6.5
       16639320      G03                                     476000           3166.84                                 360                            360                                6.75
       16639321      G03                                     496000              2635                                 360                            360                               6.125
       16639322      G03                                     785000           4415.63                                 360                            360                                 6.5
       16639323      G03                                     516000           2741.25                                 360                            360                               6.125
       16639324      G03                                     586000           3113.13                                 360                            360                               6.125
       16639325      G03                                     420000              2275                                 360                            360                                6.25
       16639326      G03                                     586521           3176.99                                 360                            360                                6.25
       16639327      G03                                     752000           3916.67                                 360                            360                                   6
       16639328      G03                                  579488.27           3713.81                                 360                            359                               6.375
       16639329      G03                                     500000              2500                                 360                            359                                5.75
       16639330      G03                                  599656.01           3800.55                                 360                            357                                6.25
       16639331      G03                                  649370.01           3855.63                                 360                            357                               6.875
       16639178      G03                                     474118           2666.91                                 360                            359                                 6.5
       16639179      G03                                     465000           2615.63                                 360                            358                                 6.5
       16639180      G03                                     569500           3262.76                                 360                            359                               6.625
       16639181      G03                                     597600           3174.75                                 360                            359                               6.125
       16639182      G03                                  806348.96           4451.72                                 360                            359                               6.375
       16639183      G03                                     595000           3346.88                                 360                            360                                 6.5
       16639184      G03                                     664000           4473.49                                 360                            360                               6.875
       16639185      G03                                     525040           3008.04                                 360                            359                               6.625
       16639186      G03                                     463920           2657.88                                 360                            359                               6.625
       16639187      G03                                  419713.93           2143.31                                 360                            359                               5.875
       16639188      G03                                     500000           2395.83                                 360                            359                                 5.5
       16639189      G03                                     472000            2507.5                                 360                            360                               6.125
       16639300      G03                                     456000              2470                                 360                            360                                6.25
       16639301      G03                                     650000           3656.25                                 360                            360                                 6.5
       16639302      G03                                     514000           2837.71                                 360                            360                               6.375
       16639303      G03                                     588000            3062.5                                 360                            360                                   6
       16639304      G03                                     535000           2897.92                                 360                            360                                6.25
       16639305      G03                                     440000           2429.17                                 360                            360                               6.375
       16639307      G03                                    1000000           5520.83                                 360                            360                               6.375
       16639308      G03                                     553000           2880.21                                 360                            360                                   6
       16639294      G03                                     496000           2841.67                                 360                            360                               6.625
       16639295      G03                                     464400           2370.38                                 360                            360                               5.875
       16639296      G03                                     600000            3187.5                                 360                            360                               6.125
       16639297      G03                                     604000           3271.67                                 360                            360                                6.25
       16639298      G03                                     800000           4416.67                                 360                            360                               6.375
       16639299      G03                                     964000            5422.5                                 360                            360                                 6.5
       16639290      G03                                     489600              2805                                 360                            360                               6.625
       16639291      G03                                     740000           3854.17                                 360                            360                                   6
       16639292      G03                                    1500000              8125                                 360                            360                                6.25
       16639293      G03                                     535000           3250.72                                 360                            360                               5.875
       16639278      G03                                     448000              2520                                 360                            360                                 6.5
       16639279      G03                                     428500           2231.77                                 360                            360                                   6
       16639280      G03                                     802547           4597.93                                 360                            360                               6.625
       16639281      G03                                     463960           2513.12                                 360                            360                                6.25
       16639282      G03                                     480000              2500                                 360                            360                                   6
       16639283      G03                                     524280           2730.63                                 360                            360                                   6
       16639284      G03                                     520000           2979.17                                 360                            360                               6.625
       16639285      G03                                     500000            2812.5                                 360                            360                                 6.5
       16639286      G03                                     511500           2610.78                                 360                            360                               5.875
       16639287      G03                                     690800           3525.96                                 360                            360                               5.875
       16639288      G03                                     643000           3348.96                                 360                            360                                   6
       16639289      G03                                     770000           4331.25                                 360                            360                                 6.5
       16639268      G03                                     494400              2678                                 360                            360                                6.25
       16639269      G03                                     455000           2464.58                                 360                            360                                6.25
       16639270      G03                                     650000           3791.67                                 360                            360                                6.75
       16639271      G03                                     492000           2818.75                                 360                            360                               6.625
       16639272      G03                                     914000           5046.04                                 360                            360                               6.375
       16639273      G03                                    1000000            5312.5                                 360                            360                               6.125
       16639274      G03                                     468800            2490.5                                 360                            360                               6.125
       16639275      G03                                     780000              4225                                 360                            360                                6.25
       16639276      G03                                     800000           5122.49                                 360                            360                               6.375
       16639277      G03                                     950000           4947.92                                 360                            360                                   6
       16639244      G03                                     942000            5102.5                                 360                            360                                6.25
       16639245      G03                                     952795           5160.97                                 360                            360                                6.25
       16639246      G03                                     632000           3620.83                                 360                            360                               6.625
       16639247      G03                                     560000           3493.67                                 360                            360                               6.125
       16639248      G03                                     532352           3321.18                                 360                            360                               6.125
       16639249      G03                                     980000           5104.17                                 360                            360                                   6
       16639250      G03                                     426000            2307.5                                 360                            360                                6.25
       16639251      G03                                     683761           3703.71                                 360                            360                                6.25
       16639252      G03                                     965000           5026.04                                 360                            360                                   6
       16639253      G03                                     645000           3628.13                                 360                            360                                 6.5
       16639254      G03                                     583200           3098.25                                 360                            360                               6.125
       16639256      G03                                     659000           3569.58                                 360                            360                                6.25
       16639257      G03                                     604000           3334.58                                 360                            360                               6.375
       16639258      G03                                     500000           2916.67                                 360                            360                                6.75
       16639259      G03                                     486000           2952.99                                 360                            360                               5.875
       16639260      G03                                     916500           4964.38                                 360                            360                                6.25
       16639261      G03                                     490000           2705.21                                 360                            360                               6.375
       16639262      G03                                     587500           3365.89                                 360                            360                               6.625
       16639263      G03                                     468750           2392.58                                 360                            360                               5.875
       16639264      G03                                     623200           3310.75                                 360                            360                               6.125
       16639265      G03                                     479920           2749.54                                 360                            360                               6.625
       16639266      G03                                     622500           3307.03                                 360                            360                               6.125
       16639267      G03                                     600000              3250                                 360                            360                                6.25
       16639228      G03                                     471400           2504.31                                 360                            359                               6.125
       16639229      G03                                     525000           2898.44                                 360                            360                               6.375
       16639230      G03                                    1820000           9479.17                                 360                            359                                   6
       16639231      G03                                     527200           2745.83                                 360                            360                                   6
       16639232      G03                                     660000            3712.5                                 360                            360                                 6.5
       16639233      G03                                     963750           5119.92                                 360                            360                               6.125
       16639234      G03                                     560000           3033.33                                 360                            360                                6.25
       16639235      G03                                     759999           4037.49                                 360                            359                               6.125
       16639236      G03                                     482000           2711.25                                 360                            360                                 6.5
       16639237      G03                                     500636           2816.08                                 360                            360                                 6.5
       16639238      G03                                     685000           3889.35                                 360                            360                                5.25
       16639239      G03                                    1000000           6320.68                                 360                            360                                6.25
       16639240      G03                                     657420           4101.45                                 360                            360                               6.125
       16639241      G03                                     960000           5989.15                                 360                            360                               6.125
       16639242      G03                                     500000           2760.42                                 360                            360                               6.375
       16639243      G03                                     445500            2889.5                                 360                            360                                 6.5
       16639200      G03                                     671200           3286.08                                 360                            360                               5.625
       16639201      G03                                     564000           3231.25                                 360                            359                               6.625
       16639202      G03                                     848000              4770                                 360                            360                                 6.5
       16639203      G03                                     945800           5517.17                                 360                            359                                6.75
       16639204      G03                                     543000           2941.25                                 360                            360                                6.25
       16639205      G03                                    1260000              6825                                 360                            359                                6.25
       16639206      G03                                     422000           2373.75                                 360                            360                                 6.5
       16639207      G03                                     650000           3588.54                                 360                            360                               6.375
       16639208      G03                                     635000           3571.88                                 360                            359                                 6.5
       16639209      G03                                     635000           3807.15                                 360                            360                                5.75
       16639210      G03                                     535360           2899.87                                 360                            360                                6.25
       16639211      G03                                     609600            3492.5                                 360                            360                               6.625
       16639212      G03                                     636500           3911.82                                 360                            360                               7.125
       16639213      G03                                     479000           2544.69                                 360                            360                               6.125
       16639214      G03                                     648000            3577.5                                 360                            360                               6.375
       16639215      G03                                     588000           3765.03                                 360                            360                               6.375
       16639216      G03                                     592000              3145                                 360                            360                               6.125
       16639217      G03                                     420000              2275                                 360                            360                                6.25
       16639218      G03                                     521500           3096.41                                 360                            359                               6.875
       16639219      G03                                     999950           5624.72                                 360                            359                                 6.5
       16639220      G03                                     615774           3527.87                                 360                            360                               6.625
       16639221      G03                                     525000           2898.44                                 360                            360                               6.375
       16639222      G03                                     465000            2712.5                                 360                            359                                6.75
       16639223      G03                                     495000           2629.69                                 360                            360                               6.125
       16639224      G03                                     487056            1877.2                                 360                            359                               4.375
       16639225      G03                                     459920           2587.05                                 360                            356                                 6.5
       16639226      G03                                     972893           5269.84                                 360                            360                                6.25
       16639227      G03                                    2000000          10833.33                                 360                            360                                6.25
       16356725      G02                                     164900            1047.8                                 360                            355                                6.67
       16356726      G03                                      98000            622.71                                 360                            355                                6.67
       16356727      G02                                  268714.11           1679.76                                 360                            355                               6.445
       16356728      G03                                     263000           1588.96                                 360                            356                               6.395
       16356729      G03                                  155861.64            909.45                                 360                            355                               6.045
       16356730      G03                                     131900             796.9                                 360                            356                               6.395
       16356731      G02                                     439900           2291.15                                 360                            355                               5.875
       16356732      G02                                     249650           1742.35                                 360                            355                                   8
       16356733      G03                                     245000           1403.65                                 360                            356                                6.02
       16356734      G03                                     192400           1062.21                                 360                            355                                5.77
       16356735      G03                                     660000           3506.25                                 360                            356                                   6
       16356736      G04                                     126900            779.91                                 360                            355                                6.52
       16356737      G03                                      94000            607.08                                 360                            356                               6.895
       16356738      G03                                  178778.67            894.93                                 360                            356                               5.625
       16356739      G03                                     264000              1650                                 360                            355                               6.645
       16356740      G03                                     165950            1019.9                                 360                            356                                6.52
       16356741      G03                                     800000              4500                                 360                            355                               6.375
       16356742      G03                                     175950           1081.36                                 360                            355                                6.52
       16356743      G02                                  193929.11           1131.53                                 360                            355                               6.045
       16356744      G02                                  162358.16           1065.48                                 360                            355                                6.82
       16356745      G03                                  899810.25           4873.97                                 360                            356                               6.125
       16356746      G03                                     265700           1660.63                                 360                            356                               6.775
       16356747      G03                                     203400           1040.23                                 360                            355                                5.75
       16356748      G03                                  348917.28            1781.1                                 360                            355                                5.75
       16356749      G03                                  319197.03           1895.23                                 360                            356                                6.27
       16356750      G03                                     299000           1463.85                                 360                            357                                 5.5
       16356751      G03                                     106950            635.02                                 360                            355                                6.27
       16356752      G02                                     130400               652                                 360                            355                               5.625
       16356753      G03                                     225000           1476.56                                 360                            355                                7.02
       16356754      G02                                   152449.8            889.29                                 360                            355                               6.045
       16356755      G03                                     106000            629.38                                 360                            356                                6.27
       16356756      G02                                     258950           1510.54                                 360                            355                               6.145
       16356757      G03                                  199808.79            957.42                                 360                            356                               5.375
       16356758      G03                                     195000           1218.75                                 360                            355                               6.645
       16356759      G04                                     186650           1147.12                                 360                            355                                6.52
       16356760      G03                                     214200           1294.13                                 360                            356                               6.395
       16356761      G03                                  120499.97            740.57                                 360                            356                                6.52
       16356762      G02                                     210300           1423.91                                 360                            356                                7.75
       16356763      G03                                  174699.82           1019.08                                 360                            356                               6.175
       16356764      G03                                     290986           1577.85                                 360                            355                               5.775
       16356765      G04                                     319000           1993.75                                 360                            357                               6.645
       16356766      G03                                     216000            1237.5                                 360                            356                                6.02
       16356767      G02                                   144898.8            890.52                                 360                            355                                6.52
       16356768      G03                                     127000            740.83                                 360                            355                               6.145
       16356769      G04                                  423602.79           2206.26                                 360                            355                               5.875
       16356770      G02                                     144500            888.07                                 360                            355                                6.42
       16356771      G02                                     208800            1087.5                                 360                            357                               5.875
       16356772      G03                                     177000            1032.5                                 360                            355                               6.145
       16356773      G02                                  249797.86           1587.89                                 360                            355                                6.67
       16356774      G03                                  116349.49            593.87                                 360                            356                                5.75
       16356775      G02                                   127799.7            678.94                                 360                            356                                5.52
       16356777      G03                                     295000           1782.29                                 360                            356                               6.295
       16356778      G03                                     210000           1246.88                                 360                            356                                6.27
       16356779      G03                                     245000           1429.17                                 360                            356                               6.145
       16356780      G03                                     175950           1008.05                                 360                            355                                5.92
       16356781      G04                                  349791.26           2076.89                                 360                            356                                 6.4
       16356782      G03                                  205999.05           1137.29                                 360                            355                                5.77
       16356783      G02                                     158950           1009.99                                 360                            356                                6.67
       16356784      G02                                     234900           1321.31                                 360                            355                               5.695
       16356786      G02                                     109700            559.93                                 360                            355                                5.75
       16356787      G02                                     425500           2216.15                                 360                            356                               5.875
       16356788      G03                                  431599.48           2247.91                                 360                            356                               5.875
       16356789      G03                                     171950           1003.04                                 360                            355                               6.045
       16356790      G03                                     219900           1374.38                                 360                            355                               6.645
       16356791      G03                                     520000           2654.17                                 360                            356                                5.75
       16356792      G03                                     181900           1136.88                                 360                            356                               6.545
       16356793      G04                                     120400            727.42                                 360                            355                               6.395
       16356794      G02                                     165600           1052.25                                 360                            355                                6.61
       16356795      G04                                     365000           2053.13                                 360                            355                               5.895
       16356796      G03                                     307000           1886.77                                 360                            355                                6.42
       16356797      G03                                     100000               500                                 360                            355                               5.625
       16356798      G03                                   182569.6           1084.42                                 360                            355                                6.39
       16356799      G02                                     103100            494.02                                 360                            355                               5.375
       16356800      G01                                     483350           2416.75                                 360                            355                               5.625
       16356801      G03                                     133650             765.7                                 360                            356                                6.05
       16356802      G03                                     204950           1259.59                                 360                            355                                6.42
       16356803      G03                                     144000               870                                 360                            356                               6.395
       16356804      G02                                     162300           1065.09                                 360                            356                                 7.5
       16356805      G03                                  271732.23           1614.21                                 360                            356                                6.27
       16356806      G03                                  252463.98           1446.41                                 360                            355                                6.24
       16356807      G02                                     340500           2092.66                                 360                            355                                6.55
       16356808      G02                                     243250            1317.6                                 360                            355                               5.545
       16356809      G03                                     104900            633.77                                 360                            356                               6.295
       16356810      G02                                    87994.2            531.63                                 360                            356                               6.395
       16356811      G03                                  159999.18            933.33                                 360                            356                               6.365
       16356812      G02                                     224900            1382.2                                 360                            355                                6.42
       16356813      G03                                     124000            736.25                                 360                            356                                6.27
       16356814      G01                                     308000           1572.08                                 360                            355                                5.75
       16356815      G03                                  171591.58           1090.32                                 360                            356                                6.67
       16356819      G03                                     386000           2251.67                                 360                            356                               6.045
       16356820      G03                                     210850           1295.85                                 360                            357                                6.52
       16356821      G02                                     156000             747.5                                 360                            355                               5.375
       16356822      G03                                   79997.36            533.32                                 360                            356                               7.145
       16356823      G03                                     348000           2138.75                                 360                            356                                6.52
       16356824      G03                                     349800           2149.81                                 360                            355                                6.52
       16356825      G03                                   523799.3              2669                                 360                            356                               5.625
       16356826      G04                                   86392.94            593.95                                 360                            356                               7.395
       16356827      G04                                  181259.12           1113.99                                 360                            356                                6.64
       16356828      G02                                     142950            878.55                                 360                            356                                6.52
       16356829      G03                                  252956.43           1422.88                                 360                            356                               5.895
       16356830      G03                                  233631.72           1388.12                                 360                            357                                6.75
       16356831      G04                                   174870.3           1075.26                                 360                            356                                6.52
       16356832      G02                                     217000           1356.25                                 360                            356                               6.545
       16356833      G03                                  189686.99           1107.37                                 360                            356                               6.145
       16356834      G03                                     239900           1499.38                                 360                            356                               6.645
       16356835      G04                                  283172.72           1710.84                                 360                            356                               6.395
       16356836      G02                                     200550           1253.44                                 360                            355                               6.645
       16356837      G03                                    1731200              8656                                 360                            356                               5.625
       16356838      G03                                  903966.19           5096.19                                 360                            356                               6.375
       16356839      G03                                     162500            947.92                                 360                            356                               6.145
       16356840      G03                                     157500            984.38                                 360                            356                               6.545
       16356841      G03                                     200050           1250.31                                 360                            356                               6.645
       16356842      G03                                  219912.92           1122.47                                 360                            356                                5.75
       16356843      G03                                  239714.51           1374.42                                 360                            356                                6.02
       16356844      G04                                     146350            899.44                                 360                            357                                6.52
       16356845      G03                                     175100             875.5                                 360                            356                               5.625
       16356846      G02                                     101550            666.42                                 360                            357                                 7.5
       16356847      G02                                     104650            686.77                                 360                            357                                 7.5
       16356848      G03                                     449550           2622.38                                 360                            357                               6.365
       16356849      G03                                  190892.04           1153.31                                 360                            356                               6.395
       16356850      G03                                     249500           1559.38                                 360                            356                               6.545
       16356851      G03                                     205900           1265.43                                 360                            356                                6.52
       16356852      G02                                     426000           2218.75                                 360                            356                               5.875
       16356853      G03                                     183500           1070.42                                 360                            356                               6.145
       16356854      G02                                     293950           1775.95                                 360                            357                               6.295
       16356855      G02                                  256431.07           1656.12                                 360                            358                               7.375
       16356856      G03                                     169999           1027.08                                 360                            356                               6.395
       16356857      G03                                     340000           2018.75                                 360                            357                                6.27
       16356858      G02                                  146339.92            792.67                                 360                            357                               5.645
       16356859      G03                                     231000           1371.56                                 360                            356                                6.27
       16356860      G02                                  198884.28           1077.29                                 360                            356                               5.645
       16356861      G02                                     182000           1042.71                                 360                            356                                6.02
       16356862      G02                                     144990            815.57                                 360                            357                               5.895
       16356863      G03                                     135000            829.69                                 360                            356                                6.52
       16356864      G04                                     265000           1407.81                                 360                            356                                5.52
       16356865      G04                                     250000           1145.83                                 360                            356                               5.125
       16356866      G03                                     144000               870                                 360                            356                               6.365
       16356867      G03                                     324000            1957.5                                 360                            356                               6.395
       16356868      G02                                     113000            635.63                                 360                            356                               5.795
       16356869      G03                                   139599.4            843.41                                 360                            356                               6.395
       16356870      G03                                     213000           1264.69                                 360                            356                                6.27
       16356871      G03                                     452000           2777.92                                 360                            357                                6.42
       16356872      G03                                     194000           1111.46                                 360                            356                                6.02
       16356873      G03                                     619900           3164.07                                 360                            357                                5.75
       16356874      G02                                     423200            2380.5                                 360                            357                               6.375
       16356875      G04                                     385000           2406.25                                 360                            356                               6.645
       16356876      G03                                     190000           1128.13                                 360                            356                                6.17
       16356877      G03                                     123000            704.69                                 360                            355                                6.02
       16356878      G03                                     906050           4813.39                                 360                            356                                   6
       16356879      G03                                     194450           1114.04                                 360                            357                                6.02
       16356880      G03                                  129826.56            703.23                                 360                            356                               5.645
       16356881      G02                                     327850           1980.76                                 360                            356                               6.395
       16356882      G03                                     260000           1597.92                                 360                            356                                6.52
       16356883      G02                                     185000           1040.63                                 360                            356                               5.895
       16356884      G02                                     169550           1200.98                                 360                            356                               8.125
       16357354      G02                                     173600           1139.25                                 360                            358                                 7.5
       16357355      G02                                     203200            1079.5                                 360                            358                                   6
       16357356      G03                                     188300           1157.26                                 360                            358                                   7
       16357357      G02                                     115100            815.29                                 360                            358                               8.125
       16357338      G04                                     598500           3179.53                                 360                            358                                   6
       16357339      G03                                      91900             564.8                                 360                            357                                   7
       16357340      G02                                  115987.96            700.76                                 360                            357                               6.395
       16357341      G01                                  373963.61           2220.41                                 360                            357                                6.75
       16357342      G01                                  114899.41             610.4                                 360                            357                                   6
       16357343      G02                                     233200           1311.75                                 360                            358                               6.375
       16357344      G02                                     358100           2014.31                                 360                            358                               6.375
       16357345      G04                                     535000            3065.1                                 360                            358                                6.02
       16357346      G02                                     126550            764.57                                 360                            358                               6.875
       16357347      G03                                     194900           1096.31                                 360                            358                               6.375
       16357348      G01                                     327950           1844.72                                 360                            357                               6.375
       16357349      G03                                     187950            998.48                                 360                            358                                   6
       16357350      G02                                     274900           1431.77                                 360                            358                               5.875
       16357351      G03                                     130650            830.17                                 360                            358                                7.25
       16357352      G02                                      80800               505                                 360                            358                               7.125
       16357353      G01                                     257650           1771.34                                 360                            358                               7.875
       16357304      G02                                  261547.33           1525.69                                 360                            357                               6.625
       16357305      G02                                  152097.66            934.77                                 360                            357                                   7
       16357306      G03                                     441000           2434.69                                 360                            357                                6.25
       16357307      G03                                     223450           1164.84                                 360                            358                               5.875
       16357308      G02                                     123100            756.55                                 360                            357                                   7
       16357310      G02                                     268550           1426.67                                 360                            357                                   6
       16357312      G02                                     292150           1765.07                                 360                            357                               6.295
       16357313      G03                                  339863.06           2053.34                                 360                            357                               6.875
       16357314      G02                                     125000            781.25                                 360                            357                               6.645
       16357315      G03                                     348000            2247.5                                 360                            357                               6.895
       16357316      G03                                   555301.3           3065.73                                 360                            357                                6.25
       16357317      G02                                  219831.54           1442.64                                 360                            357                                6.92
       16357318      G01                                     201500            1406.3                                 360                            357                                   8
       16357319      G03                                     184000              1150                                 360                            358                               7.125
       16357320      G01                                     103200            612.75                                 360                            357                                6.75
       16357321      G03                                     351950           2529.64                                 360                            357                                8.25
       16357322      G03                                     105000            678.13                                 360                            357                               7.375
       16357323      G01                                  100699.94            534.97                                 360                            357                                   6
       16357324      G04                                   272036.2            1756.9                                 360                            358                               7.375
       16357325      G03                                     299900           1936.85                                 360                            357                               6.795
       16357326      G02                                     146350            686.02                                 360                            358                                5.25
       16357327      G02                                     116000            640.42                                 360                            358                                6.25
       16357329      G03                                      81200            583.63                                 360                            358                                8.25
       16357330      G02                                     166500           1075.31                                 360                            357                               6.865
       16357332      G02                                     164800            909.83                                 360                            358                                6.25
       16357333      G02                                     203000           1311.04                                 360                            357                               7.375
       16357334      G01                                     114400            667.33                                 360                            357                               6.625
       16357335      G02                                     238200           1612.81                                 360                            357                                7.75
       16357336      G02                                   119446.6               647                                 360                            358                               6.125
       16357337      G02                                     387900           2020.31                                 360                            358                               5.875
       16357263      G03                                  671482.76           3777.09                                 360                            357                               6.375
       16357264      G02                                      92800            531.67                                 360                            358                                 6.5
       16357265      G03                                  211827.69           1478.38                                 360                            357                                   8
       16357266      G03                                     122800            729.13                                 360                            358                                6.75
       16357267      G02                                  119992.67            799.95                                 360                            357                               7.625
       16357268      G01                                     115150            659.71                                 360                            357                                 6.5
       16357269      G02                                  222098.96           1157.81                                 360                            358                               5.875
       16357270      G02                                     132950            830.94                                 360                            358                               7.125
       16357271      G02                                  228473.87           1268.22                                 360                            358                                6.25
       16357273      G02                                  223668.49           1258.14                                 360                            357                               5.895
       16357274      G02                                  237830.47           1189.15                                 360                            357                               5.625
       16357275      G02                                  119898.82            761.86                                 360                            357                                6.57
       16357276      G02                                      82000            469.79                                 360                            357                                6.02
       16357277      G02                                     197000           1169.69                                 360                            358                                6.75
       16357278      G03                                     217700           1360.63                                 360                            358                               7.125
       16357279      G02                                     140000            831.25                                 360                            357                                6.27
       16357280      G03                                     456000            2612.5                                 360                            358                                 6.5
       16357281      G03                                  469898.27           2594.23                                 360                            357                                5.77
       16357283      G02                                  152899.19            955.62                                 360                            357                               6.545
       16357284      G03                                     460800              2448                                 360                            357                                   6
       16357285      G02                                     136000               765                                 360                            357                               6.375
       16357286      G03                                     153850            849.38                                 360                            357                                6.25
       16357287      G03                                      83300            532.48                                 360                            357                                7.25
       16357288      G02                                     560000           3033.33                                 360                            357                               6.125
       16357289      G02                                  236748.64           1507.53                                 360                            357                                6.77
       16357290      G03                                   183996.4           1207.48                                 360                            357                                 7.5
       16357292      G02                                     372000              2015                                 360                            358                               6.125
       16357293      G03                                  110396.13            643.98                                 360                            357                               6.625
       16357294      G04                                     110650            680.04                                 360                            357                                   7
       16357295      G04                                  447758.65            2519.1                                 360                            357                               6.375
       16357296      G02                                     200000           1083.33                                 360                            358                               6.125
       16357297      G03                                     132900            913.69                                 360                            357                               7.875
       16357298      G03                                  159686.76            965.42                                 360                            357                               6.395
       16357299      G02                                  559148.06           3391.73                                 360                            357                               6.395
       16357300      G02                                     594300           3342.94                                 360                            357                               6.375
       16357301      G03                                   86386.11            575.94                                 360                            357                               7.625
       16357302      G03                                     231800            1424.6                                 360                            357                                6.52
       16357303      G02                                     117500            673.18                                 360                            357                                6.02
       16357252      G03                                     198000           1113.75                                 360                            358                               6.375
       16357253      G04                                  614877.81           3138.44                                 360                            357                                5.75
       16357254      G03                                     151800            838.06                                 360                            357                                6.25
       16357255      G03                                     261700           1690.15                                 360                            357                               6.795
       16357256      G04                                     139950            918.42                                 360                            357                                6.92
       16357257      G02                                     614000           3517.71                                 360                            358                                 6.5
       16357258      G01                                     114450            667.63                                 360                            357                               6.625
       16357259      G02                                  299670.17              1592                                 360                            357                                   6
       16357260      G03                                     224000              1260                                 360                            357                               6.375
       16357261      G02                                     425200           2524.63                                 360                            358                                6.75
       16357232      G03                                     365000           2319.27                                 360                            357                                6.77
       16357233      G03                                     349000           2253.96                                 360                            358                               7.375
       16357234      G03                                  294372.12           1656.48                                 360                            357                               6.375
       16357235      G02                                  573552.64           3711.24                                 360                            358                               7.375
       16357236      G01                                      63700             411.4                                 360                            357                               7.375
       16357237      G02                                  283899.86           1389.93                                 360                            357                                 5.5
       16357238      G04                                     232000           1353.33                                 360                            357                               6.625
       16357239      G02                                   123399.4            706.98                                 360                            357                                 6.5
       16357240      G02                                  137877.62            732.51                                 360                            357                                5.52
       16357241      G03                                     141200            867.79                                 360                            357                                6.52
       16357242      G02                                     519900           2653.66                                 360                            358                                5.75
       16357243      G02                                  107096.57            713.98                                 360                            357                               7.625
       16357244      G02                                     174900           1111.34                                 360                            357                                6.67
       16357245      G02                                     237000           1530.63                                 360                            357                               6.895
       16357246      G04                                     220000           1397.92                                 360                            357                                6.77
       16357247      G01                                      85600             588.5                                 360                            357                               7.875
       16357248      G03                                     100000            583.33                                 360                            357                               6.625
       16357249      G03                                   169564.3            971.46                                 360                            358                                 6.5
       16357250      G02                                     100000            572.92                                 360                            357                                 6.5
       16357251      G04                                  150098.07            922.48                                 360                            358                                   7
       16357212      G03                                     143400            896.25                                 360                            358                               7.125
       16357213      G02                                     130250            759.79                                 360                            357                               6.175
       16357214      G03                                     920000           5366.67                                 360                            357                               6.625
       16357215      G02                                     210300           1248.66                                 360                            357                                6.75
       16357216      G02                                     138000               920                                 360                            357                               7.145
       16357217      G02                                     119900            699.42                                 360                            358                               6.625
       16357218      G02                                     432800           2344.33                                 360                            357                               6.125
       16357219      G02                                     278850           1713.77                                 360                            357                                6.64
       16357220      G03                                     137000             784.9                                 360                            357                                6.02
       16357221      G03                                  264001.67           1513.06                                 360                            357                                6.15
       16357222      G03                                     115900            724.38                                 360                            357                               7.125
       16357223      G03                                     140000            904.17                                 360                            357                               7.375
       16357224      G02                                  457282.42           2429.31                                 360                            357                                   6
       16357225      G03                                  274999.19           1546.87                                 360                            357                               6.025
       16357226      G02                                     195900           1224.38                                 360                            357                               6.545
       16357227      G01                                  105010.61            535.99                                 360                            357                                5.75
       16357228      G02                                     680000           3895.83                                 360                            357                                 6.5
       16357229      G02                                     178650             986.3                                 360                            357                                6.25
       16357230      G03                                     480000              2850                                 360                            357                                6.27
       16357231      G04                                   119987.5            774.92                                 360                            358                               7.375
       16357643      G03                                     122400             739.5                                 360                            357                               6.875
       16357644      G03                                     187850           1017.52                                 360                            358                               6.125
       16357645      G03                                     134400               826                                 360                            357                                   7
       16357646      G03                                  287199.44           1495.83                                 360                            358                               5.875
       16357647      G02                                     448000              2380                                 360                            357                                   6
       16357648      G03                                  138983.51             897.6                                 360                            357                               6.895
       16357649      G03                                     111150            798.89                                 360                            357                                8.25
       16357650      G03                                     228700           1334.08                                 360                            357                               6.625
       16357651      G02                                     216000            1282.5                                 360                            357                                6.75
       16357652      G02                                     177500           1053.91                                 360                            357                                6.75
       16357653      G03                                     243800           1295.19                                 360                            358                                   6
       16357655      G02                                     800000           4583.33                                 360                            357                                 6.5
       16357656      G03                                      80000            441.67                                 360                            358                                6.25
       16357657      G03                                     125850            721.02                                 360                            358                                 6.5
       16357658      G02                                  215548.68           1212.46                                 360                            357                               6.375
       16357659      G03                                     221500           1269.01                                 360                            358                                 6.5
       16357660      G03                                     184000             977.5                                 360                            358                                   6
       16357661      G03                                     160000            916.67                                 360                            358                                 6.5
       16357663      G03                                     202800           1309.75                                 360                            357                               7.375
       16357664      G01                                     163900             819.5                                 360                            358                               5.625
       16357665      G04                                  781951.59           3991.21                                 360                            358                                5.75
       16357666      G03                                     165500           1051.61                                 360                            358                                7.25
       16357667      G03                                     455100           2844.38                                 360                            357                               7.125
       16357668      G02                                     117750            809.53                                 360                            357                               7.875
       16357669      G02                                     650000           3385.42                                 360                            358                               5.875
       16357670      G03                                  320899.74           1905.34                                 360                            357                                6.75
       16357671      G01                                     240150           1475.92                                 360                            358                                   7
       16357672      G03                                     376800           2001.75                                 360                            358                                   6
       16357673      G01                                     160050            900.28                                 360                            358                               6.375
       16357674      G04                                     300000            1562.5                                 360                            358                               5.875
       16357675      G04                                     382400           1951.83                                 360                            358                                5.75
       16357676      G01                                     114250            606.95                                 360                            357                                   6
       16357677      G02                                     262000           1692.08                                 360                            358                               7.375
       16357678      G02                                  189875.78           1048.27                                 360                            357                                6.25
       16357679      G02                                     195000           1178.13                                 360                            358                               6.875
       16357680      G02                                     224000           1353.33                                 360                            358                               6.875
       16357623      G03                                     776000           4445.83                                 360                            357                                 6.5
       16357624      G02                                  179880.37           1274.15                                 360                            357                               8.125
       16357625      G02                                  207943.35           1256.32                                 360                            357                               6.395
       16357626      G04                                     190000            1187.5                                 360                            357                               6.775
       16357627      G02                                     651100           3594.61                                 360                            357                                6.25
       16357628      G02                                   162393.9           1048.79                                 360                            357                               7.375
       16357629      G03                                     166150           1021.13                                 360                            357                                   7
       16357630      G01                                  127697.64            877.92                                 360                            357                               7.875
       16357631      G02                                     185550           1159.69                                 360                            357                               6.645
       16357632      G03                                  205998.64           1287.49                                 360                            357                               6.645
       16357633      G02                                     183900            957.81                                 360                            358                               5.875
       16357634      G03                                     121400            720.81                                 360                            357                                6.75
       16357635      G03                                     132000               825                                 360                            358                               7.125
       16357636      G02                                     444600           2269.31                                 360                            358                                5.75
       16357637      G01                                     118000            688.33                                 360                            357                               6.625
       16357638      G01                                     165800            846.27                                 360                            357                                5.75
       16357639      G03                                     121200            732.25                                 360                            357                               6.875
       16357640      G03                                     105300            680.06                                 360                            357                               7.375
       16357641      G03                                     152750           1002.42                                 360                            357                                 7.5
       16357642      G02                                  179767.41           1161.79                                 360                            357                               6.795
       16357583      G01                                     164500            873.91                                 360                            357                                   6
       16357584      G02                                     556000           3011.67                                 360                            357                               6.125
       16357585      G03                                     206300           1095.97                                 360                            358                                   6
       16357587      G04                                  477947.71           2439.61                                 360                            357                                5.75
       16357588      G03                                     781000           4230.42                                 360                            357                               6.125
       16357590      G02                                     159600            881.13                                 360                            357                                6.25
       16357591      G03                                   77388.03            507.86                                 360                            357                                7.14
       16357592      G04                                   132647.7            829.05                                 360                            357                               6.615
       16357593      G03                                     480000              3150                                 360                            357                                6.92
       16357594      G03                                     332449           1870.03                                 360                            357                               6.375
       16357595      G02                                  749717.28           3905.76                                 360                            357                               5.875
       16357596      G03                                   277399.8              1387                                 360                            357                               5.625
       16357597      G02                                     319500           1830.47                                 360                            357                                 6.5
       16357599      G03                                     756600           3861.81                                 360                            357                                5.75
       16357600      G02                                  178901.22           1136.77                                 360                            357                                6.77
       16357601      G02                                     202500           1223.44                                 360                            357                               6.395
       16357602      G03                                     134385            797.91                                 360                            357                                6.75
       16357603      G03                                     305050           1843.01                                 360                            357                               6.395
       16357604      G03                                  276997.99           1702.38                                 360                            357                                6.65
       16357605      G03                                     265000           1628.65                                 360                            357                                6.52
       16357606      G03                                     229800           1316.56                                 360                            357                                 6.5
       16357607      G03                                     229800           1221.34                                 360                            357                                   6
       16357608      G03                                      88800             536.5                                 360                            357                               6.875
       16357609      G03                                  132749.55            774.37                                 360                            357                               6.625
       16357610      G03                                     117600             661.5                                 360                            357                               6.375
       16357611      G03                                     207735           1233.43                                 360                            358                                6.75
       16357612      G02                                     193600           1109.17                                 360                            357                                 6.5
       16357613      G03                                     244000           1270.83                                 360                            358                               5.875
       16357614      G03                                     207950           1364.67                                 360                            357                                 7.5
       16357616      G03                                  395972.42            2186.1                                 360                            358                                6.25
       16357617      G03                                  175496.24           1078.57                                 360                            357                                6.52
       16357618      G02                                     233900           1291.32                                 360                            357                                5.77
       16357619      G02                                     172000           1021.25                                 360                            357                                6.27
       16357620      G03                                     211700           1345.18                                 360                            357                                 6.8
       16357621      G02                                     195000           1198.44                                 360                            358                                   7
       16357622      G02                                     109500            650.16                                 360                            357                                6.75
       16357581      G02                                     108800            623.33                                 360                            357                                 6.5
       16357582      G04                                     168350             911.9                                 360                            357                               6.125
       16357579      G03                                     327000           1737.19                                 360                            358                                   6
       16357577      G03                                     161500            942.08                                 360                            357                               6.625
       16357578      G04                                     147150            735.75                                 360                            358                               5.625
       16357571      G03                                  172816.45           1044.35                                 360                            358                               6.875
       16357572      G03                                     180800            998.17                                 360                            357                                6.25
       16357573      G02                                     279200           1425.08                                 360                            358                                5.75
       16357574      G02                                     332500           2078.13                                 360                            357                               6.545
       16357575      G04                                     512000           2773.33                                 360                            357                               6.125
       16357576      G03                                     101550            666.42                                 360                            357                                6.92
       16357567      G03                                    1331600           7628.96                                 360                            357                                 6.5
       16357568      G03                                     424000            2252.5                                 360                            357                                   6
       16357569      G04                                  160935.52            871.73                                 360                            358                               6.125
       16357570      G03                                     236400            1477.5                                 360                            357                               6.765
       16357561      G04                                  234999.54           1444.27                                 360                            357                                6.52
       16357562      G03                                     355000           1811.98                                 360                            357                                5.75
       16357563      G03                                  124998.67            768.22                                 360                            357                                6.52
       16357564      G03                                     142400            815.83                                 360                            357                                 6.5
       16357565      G03                                  506763.58           2956.12                                 360                            357                               6.145
       16357566      G03                                     164500           1045.26                                 360                            357                                6.67
       16357549      G03                                   135507.1            846.92                                 360                            357                               6.645
       16357550      G02                                     165300           1015.91                                 360                            358                                   7
       16357551      G03                                     800000              4500                                 360                            357                               6.375
       16357552      G03                                     323200           1683.33                                 360                            357                               5.875
       16357553      G02                                     108925            703.47                                 360                            357                               6.795
       16357554      G04                                     289900           1721.28                                 360                            357                                6.27
       16357555      G03                                     584000           2980.83                                 360                            357                                5.75
       16357556      G04                                     185000           1021.35                                 360                            357                                6.25
       16357557      G04                                     586500           2810.31                                 360                            357                               5.375
       16357558      G02                                     147000            949.38                                 360                            357                               6.795
       16357559      G02                                     485000           2475.52                                 360                            357                                5.75
       16357560      G03                                  259999.24           1706.25                                 360                            357                                 7.5
       16357543      G02                                     186000            988.13                                 360                            357                                   6
       16357544      G03                                  247996.68           1524.15                                 360                            357                                6.42
       16357545      G02                                  181201.56           1057.88                                 360                            358                               6.625
       16357546      G02                                     472000           2556.67                                 360                            357                               6.125
       16357547      G03                                     324000           1991.25                                 360                            357                                6.52
       16357548      G03                                     640450           3202.25                                 360                            357                               5.625
       16357539      G04                                  175350.24            968.63                                 360                            356                                 5.9
       16357540      G03                                     668000           3618.33                                 360                            357                               6.125
       16357541      G02                                   496093.1            2842.2                                 360                            358                                 6.5
       16357542      G02                                  138454.21            822.07                                 360                            356                                6.17
       16357535      G04                                     199200           1099.75                                 360                            357                                6.25
       16357536      G02                                     163900            870.72                                 360                            356                                5.42
       16357537      G03                                   699591.5           3863.84                                 360                            357                                6.25
       16357538      G03                                  239321.94           1221.54                                 360                            357                                5.75
       16357531      G02                                  308483.45           1805.31                                 360                            356                               6.045
       16357532      G03                                     227900            1139.5                                 360                            358                               5.625
       16357533      G04                                     485000           2526.04                                 360                            357                               5.875
       16357534      G02                                  197861.58           1009.92                                 360                            357                                5.75
       16357500      G03                                  178993.24           1118.71                                 360                            356                               6.645
       16357501      G03                                  474598.96           2471.87                                 360                            356                               5.875
       16357502      G03                                     148950            930.94                                 360                            356                               6.545
       16357503      G03                                     117950            737.19                                 360                            356                               6.545
       16357504      G03                                  138961.39            868.51                                 360                            356                               6.645
       16357505      G03                                  184570.47           1000.41                                 360                            356                               5.645
       16357506      G03                                     190000           1167.71                                 360                            357                                6.52
       16357507      G03                                     170000           1044.79                                 360                            356                                6.52
       16357508      G04                                     608000              3040                                 360                            357                               5.625
       16357509      G02                                     139900            830.66                                 360                            356                                6.27
       16357510      G03                                     139400            856.73                                 360                            356                                6.49
       16357511      G02                                     143200            865.17                                 360                            356                               6.395
       16357512      G03                                     797000           4068.02                                 360                            356                                5.75
       16357513      G02                                  113394.22             696.9                                 360                            356                                6.36
       16357514      G03                                     470600           2451.04                                 360                            356                               5.875
       16357515      G03                                     230000           1317.71                                 360                            356                                5.92
       16357516      G03                                     508700           2596.49                                 360                            356                                5.75
       16357517      G02                                     309000           1609.38                                 360                            356                               5.295
       16357518      G02                                   103633.5            647.71                                 360                            357                               6.645
       16357519      G02                                     186500            1146.2                                 360                            357                                6.52
       16357520      G03                                  981521.99           5418.82                                 360                            356                                6.25
       16357521      G02                                     211000           1208.85                                 360                            357                                6.15
       16357522      G02                                     650000           3182.29                                 360                            356                                 5.5
       16357523      G03                                  719974.39           3974.99                                 360                            357                                6.25
       16357524      G04                                  144999.68            876.04                                 360                            357                               6.395
       16357525      G03                                     243950            1550.1                                 360                            356                                6.67
       16357526      G02                                  399983.16           2249.91                                 360                            357                               6.375
       16357527      G02                                      64900            459.71                                 360                            357                               8.125
       16357528      G03                                     145900            881.48                                 360                            356                               6.395
       16357529      G03                                  354046.38           1882.75                                 360                            357                                   6
       16357530      G02                                     230950           1395.32                                 360                            357                               6.395
       16357152      G01                                     184000            900.83                                 360                            357                                 5.5
       16357153      G02                                     271900           1925.96                                 360                            357                               8.125
       16357154      G02                                     116000            676.67                                 360                            357                               6.145
       16357155      G03                                     254400              1643                                 360                            357                               6.895
       16357156      G03                                     295000           1874.48                                 360                            357                                6.77
       16357157      G03                                      96000               610                                 360                            357                                7.25
       16357158      G02                                     131000            764.17                                 360                            357                               6.145
       16357159      G03                                  175999.44           1136.66                                 360                            357                               6.795
       16357160      G03                                  201983.37            1262.4                                 360                            357                               6.645
       16357161      G03                                     118400               851                                 360                            357                                8.25
       16357162      G03                                     305000           1556.77                                 360                            357                                5.75
       16357163      G02                                     121800            748.56                                 360                            357                                6.52
       16357164      G03                                     185000           1040.63                                 360                            357                               5.895
       16357166      G04                                     180400            1127.5                                 360                            358                               7.125
       16357167      G02                                   187949.1           1174.68                                 360                            357                               6.645
       16357168      G04                                     650000           3723.96                                 360                            357                                 6.5
       16357169      G02                                   131498.5            767.07                                 360                            357                               6.045
       16357170      G04                                     299000           1806.46                                 360                            357                               6.395
       16357171      G03                                     228000           1448.75                                 360                            357                                 6.8
       16357172      G01                                     140150            846.74                                 360                            357                               6.875
       16357173      G02                                     108000             562.5                                 360                            358                               5.875
       16357174      G02                                  115893.43            760.55                                 360                            357                                6.92
       16357175      G02                                      69750             486.8                                 360                            357                                   8
       16357176      G02                                     141550            810.96                                 360                            358                                 6.5
       16357177      G03                                      95920            649.46                                 360                            357                                7.75
       16357178      G03                                      95120            644.04                                 360                            357                                7.75
       16357179      G03                                  126981.95            753.96                                 360                            357                                6.27
       16357180      G02                                     690000           3953.13                                 360                            357                                 6.5
       16357181      G03                                     198400           1136.67                                 360                            358                                 6.5
       16357183      G03                                     192500           1183.07                                 360                            358                                   7
       16357184      G04                                     134400               784                                 360                            358                               6.625
       16357185      G03                                  251076.07            1412.3                                 360                            357                               6.375
       16357186      G03                                     333000           2115.94                                 360                            357                                6.67
       16357187      G01                                     359000           2019.38                                 360                            358                               6.375
       16357188      G02                                     244400           1476.58                                 360                            357                               6.395
       16357189      G03                                     192000              1240                                 360                            357                               6.895
       16357190      G02                                     258400           1534.25                                 360                            357                                6.75
       16357191      G03                                     110950            681.88                                 360                            357                                6.42
       16357192      G02                                  126920.43             753.6                                 360                            357                                6.75
       16357193      G02                                     450000           2671.88                                 360                            357                                6.27
       16357194      G03                                     123800            760.85                                 360                            357                                   7
       16357195      G03                                     172100            985.99                                 360                            357                                 6.5
       16357196      G03                                     424950           2788.73                                 360                            357                                 7.5
       16357197      G03                                     108000             652.5                                 360                            358                               6.875
       16357198      G02                                     270000              1575                                 360                            357                               6.145
       16357199      G03                                     151050            865.39                                 360                            358                                 6.5
       16357200      G03                                     249500           1559.38                                 360                            357                               6.545
       16357201      G02                                     375000           2460.94                                 360                            357                                6.92
       16357202      G03                                     214900            1387.9                                 360                            357                               6.895
       16357203      G03                                     331200              2001                                 360                            357                               6.875
       16357204      G03                                   545822.3           3183.96                                 360                            358                               6.625
       16357205      G02                                  359898.79           2174.39                                 360                            357                               6.195
       16357206      G03                                    1999000          12285.52                                 360                            357                                   7
       16357207      G04                                     162000               945                                 360                            358                               6.625
       16357208      G03                                      73850            484.64                                 360                            357                                 7.5
       16357209      G03                                     126350            908.14                                 360                            357                                8.25
       16357210      G02                                     256200           1601.25                                 360                            357                               6.545
       16357211      G03                                  536549.36           2738.64                                 360                            357                                5.75
       16357136      G02                                     103200             537.5                                 360                            358                               5.875
       16357137      G01                                      98950            649.36                                 360                            357                                 7.5
       16357138      G03                                     302000           1856.04                                 360                            357                                6.52
       16357139      G03                                     455000           2843.75                                 360                            357                               6.545
       16357140      G02                                     185000           1098.44                                 360                            357                                6.27
       16357141      G02                                  950499.24           5248.93                                 360                            357                                6.25
       16357142      G02                                     439900           2474.44                                 360                            357                               6.375
       16357143      G03                                     272000           1671.67                                 360                            357                                   7
       16357144      G03                                     110000            653.13                                 360                            357                                6.17
       16357145      G03                                     384700           2083.79                                 360                            357                               6.125
       16357146      G03                                     111800            605.58                                 360                            357                               5.645
       16357148      G02                                     251100           1517.06                                 360                            357                               6.395
       16357149      G03                                     242000           1285.63                                 360                            357                                   6
       16357150      G02                                     321950           2012.19                                 360                            357                               6.675
       16357151      G03                                     540000              2925                                 360                            357                               6.125
       16357110      G02                                     143000            744.79                                 360                            357                               5.875
       16357111      G03                                     473000           3054.79                                 360                            357                               6.895
       16357112      G02                                     199050           1202.59                                 360                            357                               6.295
       16357113      G02                                      77150            522.37                                 360                            357                                7.75
       16357114      G03                                     600000              3250                                 360                            357                               6.125
       16357115      G03                                     225000           1406.25                                 360                            356                               6.645
       16357116      G03                                     170000           1027.08                                 360                            357                               6.395
       16357117      G03                                  104847.12            611.61                                 360                            357                               6.145
       16357118      G03                                     441200           2297.92                                 360                            356                               5.875
       16357119      G03                                      76000            451.25                                 360                            357                                6.75
       16357120      G02                                     159450            979.95                                 360                            358                                   7
       16357122      G02                                     145000            860.94                                 360                            358                                6.17
       16357124      G03                                  253999.76           1561.04                                 360                            357                                6.52
       16357125      G02                                     359800           2323.71                                 360                            358                               6.695
       16357126      G03                                  895952.19           4968.75                                 360                            357                                6.25
       16357127      G02                                     205100           1110.96                                 360                            357                               6.125
       16357128      G02                                     129600               729                                 360                            357                               6.375
       16357129      G02                                     230000           1317.71                                 360                            357                                6.02
       16357130      G02                                     285000           1751.56                                 360                            357                                6.52
       16357131      G02                                     190800           1053.38                                 360                            357                                6.25
       16357132      G02                                  198748.74           1262.88                                 360                            357                                6.77
       16357133      G01                                     162000            995.63                                 360                            358                                   7
       16357134      G02                                     168100           1033.11                                 360                            358                                6.55
       16357135      G03                                  279829.32           1690.64                                 360                            357                               6.395
       16357100      G04                                     227900           1281.94                                 360                            357                               6.375
       16357101      G03                                     409500           2346.09                                 360                            357                                 6.5
       16357102      G01                                     132000            728.75                                 360                            357                                6.25
       16357103      G04                                     160800             971.5                                 360                            357                               6.525
       16357104      G02                                   84769.97            600.45                                 360                            357                               8.125
       16357105      G03                                     541600           2877.25                                 360                            357                                   6
       16357106      G03                                     173200            992.29                                 360                            357                                 6.5
       16357107      G03                                     219500           1257.55                                 360                            357                                 6.5
       16357108      G03                                      80000               525                                 360                            358                                 7.5
       16357109      G02                                     435000           2582.81                                 360                            357                                6.27
       16357088      G03                                  109578.48            696.99                                 360                            357                                6.74
       16357089      G02                                  103492.12            646.83                                 360                            357                               7.125
       16357090      G03                                     474100           2913.74                                 360                            358                                6.42
       16357092      G01                                  186435.96           1073.46                                 360                            357                                 6.5
       16357093      G03                                     268650            1623.7                                 360                            358                               6.875
       16357094      G03                                     108460             621.5                                 360                            358                                 6.5
       16357095      G03                                  544757.35           3069.12                                 360                            357                               6.375
       16357096      G03                                  319652.12            1798.7                                 360                            357                               6.375
       16357097      G02                                     150000            968.75                                 360                            357                               6.795
       16357098      G03                                   103856.5            616.65                                 360                            357                                6.27
       16357099      G03                                      79400            504.52                                 360                            357                                7.25
       16357062      G03                                     499050           2807.16                                 360                            357                               6.375
       16357063      G03                                  352139.42           1944.71                                 360                            357                                6.25
       16357064      G01                                   749244.8           4526.69                                 360                            356                               6.875
       16357066      G03                                     316000           1942.08                                 360                            358                                   7
       16357067      G03                                     257000           1606.25                                 360                            357                               6.645
       16357068      G03                                     111100            636.51                                 360                            357                                6.02
       16357069      G03                                     267500           1588.28                                 360                            358                                6.27
       16357070      G01                                     428150           2675.94                                 360                            357                               7.125
       16357071      G02                                     165800             949.9                                 360                            357                                6.02
       16357072      G03                                     110950            658.77                                 360                            357                                6.17
       16357073      G03                                     214900           1320.74                                 360                            357                                6.52
       16357074      G03                                  117839.97            711.98                                 360                            358                               6.875
       16357075      G03                                     193500           1027.97                                 360                            357                                   6
       16357076      G03                                     110950            658.77                                 360                            357                                6.17
       16357077      G03                                     224900           1288.49                                 360                            357                                6.02
       16357078      G03                                     252000              1365                                 360                            357                               6.125
       16357079      G03                                     125000            794.27                                 360                            357                                6.77
       16357080      G03                                  361548.77           1958.39                                 360                            357                               6.125
       16357081      G03                                     492000              2665                                 360                            358                               6.125
       16357082      G03                                     188300           1059.19                                 360                            358                               6.375
       16357083      G02                                     107900            674.38                                 360                            357                               7.125
       16357085      G02                                     185750           1160.94                                 360                            357                               6.545
       16357086      G03                                     166300           1022.05                                 360                            357                                   7
       16357087      G03                                     361000           2181.04                                 360                            358                               6.875
       16356998      G03                                     163100           1036.36                                 360                            357                                6.77
       16356999      G02                                     233550           1338.05                                 360                            357                                6.02
       16357000      G03                                     880000           4766.67                                 360                            356                               6.125
       16357001      G03                                  315736.88           1611.57                                 360                            357                                5.75
       16357002      G03                                     343900           2041.91                                 360                            357                                6.75
       16357003      G03                                  367998.83           2261.66                                 360                            357                                   7
       16357004      G01                                     380000           2058.33                                 360                            357                               6.125
       16357005      G02                                     480000              2500                                 360                            356                               5.875
       16357006      G03                                     170000            956.25                                 360                            357                               6.015
       16357007      G03                                  119995.02            749.97                                 360                            357                               6.645
       16357008      G03                                  278954.09           1772.52                                 360                            356                                6.57
       16357009      G03                                      87550            547.19                                 360                            356                               6.645
       16357011      G03                                  148699.41             883.5                                 360                            356                                6.27
       16357012      G02                                  206375.74           1268.35                                 360                            357                                   7
       16357013      G01                                     116400            594.13                                 360                            357                                5.75
       16356923      G02                                     694400           3978.33                                 360                            357                                 6.5
       16356924      G02                                     155300           1002.98                                 360                            356                               6.865
       16356925      G03                                     345100           1689.55                                 360                            356                                 5.5
       16356926      G02                                  926215.24           4534.61                                 360                            356                                 5.5
       16356927      G03                                     113950            700.32                                 360                            356                                6.42
       16356928      G03                                     214900           1320.74                                 360                            356                                6.52
       16356929      G03                                     140000            889.58                                 360                            357                                6.77
       16356930      G03                                     179000           1118.75                                 360                            356                               6.545
       16356931      G02                                     165000            979.69                                 360                            356                                6.27
       16356932      G02                                     229400           1624.92                                 360                            357                               8.125
       16357014      G01                                      73800            376.69                                 360                            356                                5.75
       16357015      G03                                     340000           2195.83                                 360                            357                               6.895
       16357016      G03                                     176000           1081.67                                 360                            357                                   7
       16357017      G04                                  183357.69            859.49                                 360                            357                                5.25
       16357018      G03                                  114920.56            670.37                                 360                            356                               6.145
       16357019      G03                                     261000           1631.25                                 360                            357                               6.865
       16357020      G03                                     115650            602.34                                 360                            357                               5.875
       16357021      G03                                     295000           1843.75                                 360                            357                               6.645
       16357022      G02                                     184500           1057.03                                 360                            356                                5.91
       16357023      G03                                     490000           2705.21                                 360                            358                                6.25
       16357024      G03                                      76200            492.13                                 360                            358                               7.375
       16357025      G02                                     167000            974.17                                 360                            357                               6.045
       16357026      G03                                     224000           1423.33                                 360                            357                                6.77
       16357027      G03                                   273799.4           1625.68                                 360                            357                                6.27
       16357028      G03                                     244950           1479.91                                 360                            357                               6.395
       16357029      G03                                     105300            537.47                                 360                            357                                5.36
       16356933      G02                                  164108.64            803.57                                 360                            356                                 5.5
       16356934      G02                                     652650           3535.19                                 360                            356                               6.125
       16356935      G04                                  185908.12           1181.29                                 360                            356                                6.77
       16356936      G03                                     148500            928.13                                 360                            357                               6.645
       16356937      G02                                     336000              1680                                 360                            356                               5.625
       16356938      G03                                     296900           1855.63                                 360                            356                               6.545
       16356939      G02                                  378849.43           2170.49                                 360                            356                                6.02
       16356940      G03                                     174100           1034.91                                 360                            356                                6.27
       16356941      G01                                  111199.94            567.58                                 360                            356                                5.75
       16356942      G03                                      77000            449.17                                 360                            356                               6.145
       16356943      G03                                  238939.92           1418.71                                 360                            357                                6.27
       16356944      G03                                     275000           1661.46                                 360                            357                               6.395
       16356945      G01                                    1000000           5208.33                                 360                            356                               5.875
       16356946      G02                                     178500           1115.63                                 360                            356                               6.545
       16356947      G02                                     449500           2200.68                                 360                            357                                 5.5
       16356948      G02                                     273050           1592.79                                 360                            356                               6.175
       16356949      G02                                     315000           1903.13                                 360                            356                               6.395
       16356950      G01                                     188000               940                                 360                            356                               5.625
       16356951      G04                                     184550           1211.11                                 360                            356                                6.92
       16356952      G03                                     217900           1316.78                                 360                            356                               6.395
       16356953      G03                                     375000           2109.38                                 360                            356                               5.895
       16356954      G03                                     292400           1736.13                                 360                            357                                6.75
       16356955      G04                                     257500           1663.02                                 360                            356                               6.895
       16356956      G03                                     148050            880.23                                 360                            356                                6.27
       16356957      G03                                     114950            634.62                                 360                            356                                5.67
       16356958      G03                                     140000            831.25                                 360                            356                                6.27
       16356959      G04                                  550152.75           3108.45                                 360                            357                               6.375
       16356960      G02                                     231000           1275.31                                 360                            356                                5.77
       16356961      G03                                     279300           1891.09                                 360                            357                                7.27
       16356962      G02                                     322000           1710.63                                 360                            358                                   6
       16356963      G03                                  349818.17           2186.36                                 360                            356                               6.645
       16356964      G04                                  134990.54            885.88                                 360                            357                                7.02
       16356965      G02                                     185000           1194.79                                 360                            357                               6.895
       16356966      G03                                     188500           1099.58                                 360                            356                               6.145
       16356967      G02                                     120000               750                                 360                            357                               6.645
       16356968      G03                                     308000           1892.92                                 360                            357                                   7
       16356969      G02                                  123599.72            759.62                                 360                            356                                6.52
       16356970      G03                                  298702.97           1898.01                                 360                            356                                6.67
       16356971      G02                                     207880           1364.21                                 360                            356                                6.92
       16356972      G03                                  119498.11            734.42                                 360                            356                                6.52
       16356973      G03                                     450000           2343.75                                 360                            358                               5.875
       16356974      G04                                     650000           3385.42                                 360                            357                               5.875
       16356975      G02                                  167756.94            943.63                                 360                            357                               5.795
       16356976      G03                                  286798.08           1822.36                                 360                            356                                6.67
       16356977      G03                                  214994.78           1097.37                                 360                            357                                5.75
       16356978      G02                                     227900           1424.38                                 360                            357                               6.645
       16356979      G02                                     467824           2485.32                                 360                            357                                   6
       16356980      G02                                   90599.28            556.81                                 360                            357                                6.52
       16356981      G02                                     775200           4279.75                                 360                            356                                6.25
       16356982      G03                                     159900           1032.69                                 360                            357                               6.895
       16356983      G02                                     141050             999.1                                 360                            357                               8.125
       16356984      G02                                     364500           2202.19                                 360                            357                               6.515
       16356985      G04                                     127900            719.44                                 360                            358                               6.375
       16356986      G02                                     227900           1353.16                                 360                            357                                6.39
       16356987      G02                                     175000           1093.75                                 360                            356                               6.445
       16356988      G03                                     138350            778.22                                 360                            358                               6.375
       16356989      G02                                     173200            884.04                                 360                            358                                5.75
       16356990      G04                                     223000           1393.75                                 360                            356                               6.765
       16356991      G01                                   748489.6           4522.12                                 360                            356                               6.875
       16356992      G02                                  234998.92           1346.35                                 360                            356                                6.02
       16356994      G03                                     124750            766.69                                 360                            357                                   7
       16356995      G01                                  672154.54           3780.87                                 360                            356                               6.375
       16356996      G02                                  566799.98           3011.12                                 360                            357                                   6
       16356997      G02                                     150000             937.5                                 360                            356                               6.645
       16357030      G03                                     225000           1406.25                                 360                            356                               6.545
       16357031      G02                                     381200           1945.71                                 360                            357                                5.75
       16357032      G03                                     147950            847.63                                 360                            358                                 6.5
       16357033      G04                                     193000           1085.63                                 360                            357                               5.895
       16357034      G03                                     356100           1743.41                                 360                            357                                 5.5
       16357035      G04                                  279883.88           1749.27                                 360                            357                               6.645
       16357036      G03                                  116923.12            730.77                                 360                            358                               7.125
       16357037      G04                                  327946.53           2117.99                                 360                            357                               6.795
       16357038      G03                                    1330000           7481.25                                 360                            357                               6.375
       16357039      G02                                     180000              1050                                 360                            357                               6.145
       16357040      G03                                  135695.73            833.96                                 360                            357                                   7
       16357041      G03                                      98300            634.85                                 360                            357                               7.375
       16357042      G03                                      98300            634.85                                 360                            357                               7.375
       16357043      G03                                     223000           1300.83                                 360                            356                               6.145
       16357044      G04                                     194700           1237.16                                 360                            357                                6.77
       16357045      G02                                     205900           1265.43                                 360                            356                                6.32
       16357046      G03                                     332400           2112.13                                 360                            356                                 6.8
       16357047      G01                                     166200               831                                 360                            356                               5.625
       16357048      G02                                     462800           2699.67                                 360                            357                               6.625
       16357049      G02                                     147550             968.3                                 360                            356                                6.99
       16357050      G03                                  372438.15           2172.56                                 360                            358                               6.625
       16357051      G03                                     194750           1237.47                                 360                            357                                 6.9
       16357052      G02                                     100000            614.58                                 360                            358                                   7
       16357053      G02                                     209800           1245.69                                 360                            357                                6.17
       16357054      G02                                     256700           1631.11                                 360                            357                                6.67
       16357055      G02                                     330700           2101.32                                 360                            357                                6.67
       16357056      G02                                  182978.16            994.47                                 360                            357                               6.125
       16357057      G03                                     142500            831.25                                 360                            357                               6.275
       16357058      G03                                     153600              1104                                 360                            357                                8.25
       16357059      G04                                     608300           3168.23                                 360                            357                               5.875
       16357060      G03                                     105400            636.79                                 360                            357                               6.425
       16357061      G02                                     190500           1091.41                                 360                            357                                6.02
       16356897      G04                                     129900            852.47                                 360                            357                                7.15
       16356898      G03                                  136463.47            810.25                                 360                            356                                6.27
       16356899      G02                                     166500            953.91                                 360                            358                                 6.5
       16356900      G02                                   104882.7            633.67                                 360                            357                               6.395
       16356901      G02                                     165000            996.88                                 360                            356                               6.295
       16356902      G02                                  179949.41            918.67                                 360                            356                                5.75
       16356903      G02                                     354500           2215.63                                 360                            356                               6.645
       16356904      G04                                     588000            3062.5                                 360                            356                               5.875
       16356905      G03                                     233600           1192.33                                 360                            358                                5.75
       16356906      G03                                     310000           1808.33                                 360                            357                               6.145
       16356907      G02                                   167174.1            957.77                                 360                            357                                 6.5
       16356908      G02                                     284500           1778.13                                 360                            356                               6.545
       16356909      G02                                     316900            1914.6                                 360                            357                               6.395
       16356910      G02                                  129771.55               757                                 360                            356                               6.145
       16356911      G03                                     310000           1872.92                                 360                            356                               6.395
       16356912      G04                                  166725.71           1095.75                                 360                            356                                7.02
       16356913      G04                                  208947.74           1284.16                                 360                            356                                6.52
       16356914      G03                                     200000           1041.67                                 360                            358                               5.875
       16356915      G03                                  126925.75            846.17                                 360                            357                               7.145
       16356916      G03                                     164000              1025                                 360                            357                               7.125
       16356917      G03                                  797479.43           4319.68                                 360                            356                               6.125
       16356918      G02                                     154600            901.83                                 360                            356                               6.145
       16356920      G01                                     388000           1980.42                                 360                            357                                5.75
       16356921      G03                                     204500           1235.52                                 360                            357                               6.395
       16356922      G04                                  194664.45            1176.1                                 360                            356                               6.295
       16356885      G02                                  372853.52           2332.36                                 360                            356                               6.645
       16356886      G02                                  175493.97           1096.84                                 360                            356                               6.645
       16356887      G03                                     515450           2630.94                                 360                            356                                5.75
       16356888      G03                                  329588.86           1889.06                                 360                            356                                6.02
       16356889      G03                                     255000           1567.19                                 360                            356                                6.42
       16356890      G03                                    1200000              6625                                 360                            356                                6.25
       16356891      G03                                     422000           2197.92                                 360                            357                               5.875
       16356892      G03                                     255500            1650.1                                 360                            356                               6.795
       16356893      G02                                     208000           1256.67                                 360                            356                               6.365
       16356894      G03                                     175000            947.92                                 360                            356                               5.545
       16356895      G03                                     186000           1026.88                                 360                            358                                6.25
       16356896      G03                                    1100000              5500                                 360                            357                               5.625
       16356713      G03                                     330000           2028.13                                 360                            355                                6.52
       16356714      G03                                     174600            836.63                                 360                            355                               5.375
       16356715      G02                                     117400            709.29                                 360                            355                               6.395
       16356716      G03                                  194999.15           1218.74                                 360                            355                               6.545
       16356717      G02                                     189900           1186.88                                 360                            355                               6.445
       16356718      G03                                  274928.79           1632.39                                 360                            355                                6.27
       16356719      G03                                  194652.14           1199.89                                 360                            355                                6.65
       16356720      G01                                   84649.07            555.51                                 360                            357                                 7.5
       16356721      G03                                  233214.02           1360.42                                 360                            356                               6.145
       16356722      G03                                     185000           1021.35                                 360                            356                                5.77
       16356723      G03                                     612000           3123.75                                 360                            355                                5.75
       16356724      G03                                  273698.49           1739.13                                 360                            356                                6.67
       16356683      G03                                  196651.92           1003.74                                 360                            355                                5.75
       16356684      G03                                     260000           1597.92                                 360                            356                                6.55
       16356685      G03                                     254000           1375.83                                 360                            355                               5.645
       16356686      G02                                     155000            904.17                                 360                            355                               6.045
       16356687      G04                                     117000            731.25                                 360                            355                               6.545
       16356688      G02                                     386900           2498.73                                 360                            357                               6.795
       16356689      G03                                  184891.16           1117.05                                 360                            356                               6.395
       16356690      G03                                     788000           4104.17                                 360                            355                               5.875
       16356691      G03                                     414500           2115.68                                 360                            356                                5.75
       16356692      G03                                     171950            985.13                                 360                            355                                5.92
       16356693      G03                                  220399.45           1193.83                                 360                            356                               5.865
       16356694      G03                                     162950            967.52                                 360                            355                                6.17
       16356695      G04                                     257000           1633.02                                 360                            356                                6.77
       16356696      G03                                  181751.12           1135.94                                 360                            355                               6.545
       16356697      G03                                     242450           1186.99                                 360                            355                                 5.5
       16356698      G03                                  231997.53           1425.82                                 360                            355                                6.52
       16356699      G03                                     210000           1203.13                                 360                            355                                6.02
       16356700      G04                                     100000            593.75                                 360                            355                                6.27
       16356701      G02                                     180000            881.25                                 360                            356                                 5.5
       16356702      G02                                  192721.14           1125.02                                 360                            355                               6.145
       16356703      G02                                     167900            979.42                                 360                            355                               6.045
       16356704      G02                                     235000           1223.96                                 360                            355                               5.395
       16356705      G02                                  176946.54           1069.05                                 360                            355                               6.395
       16356706      G03                                     127550            823.76                                 360                            358                               7.375
       16356707      G02                                     122300            789.85                                 360                            355                               7.375
       16356708      G02                                     139600            843.42                                 360                            358                               6.875
       16356709      G03                                     604000              3020                                 360                            355                               5.625
       16356710      G03                                  191249.32           1115.62                                 360                            355                               6.145
       16356711      G03                                     215000           1343.75                                 360                            355                               6.645
       16356712      G02                                  144658.48            904.37                                 360                            356                               6.445
       16356641      G03                                  174827.51           1074.46                                 360                            355                                6.42
       16356642      G04                                  233991.25           1267.45                                 360                            355                               6.125
       16356643      G03                                     426500           2221.35                                 360                            355                               5.875
       16356644      G03                                     229950           1389.28                                 360                            356                               6.295
       16356645      G01                                     217600           1110.67                                 360                            356                                5.75
       16356646      G03                                     512000              2560                                 360                            355                               5.625
       16356647      G02                                     110000            676.04                                 360                            355                                6.36
       16356648      G03                                     177000           1014.06                                 360                            355                                6.02
       16356649      G02                                     110000            676.04                                 360                            355                                6.36
       16356650      G02                                     133500            778.75                                 360                            355                               6.145
       16356651      G03                                     604000              3020                                 360                            355                               5.625
       16356652      G03                                     407000           2543.75                                 360                            355                               6.545
       16356653      G02                                     113750            687.24                                 360                            355                               6.295
       16356654      G02                                  150492.49            754.99                                 360                            355                               5.625
       16356655      G02                                     490000           2552.08                                 360                            356                               5.875
       16356656      G03                                     119000            743.75                                 360                            357                               6.645
       16356657      G03                                     650000           3317.71                                 360                            355                                5.75
       16356658      G03                                     117950            688.04                                 360                            355                               6.145
       16356659      G03                                  249085.35           1456.26                                 360                            355                               6.145
       16356660      G03                                  195629.22           1120.79                                 360                            355                                6.02
       16356661      G03                                     488000           2490.83                                 360                            356                                5.75
       16356662      G03                                  199896.09           1041.14                                 360                            355                               5.395
       16356663      G04                                    1750000           9479.17                                 360                            356                               6.125
       16356664      G03                                  233800.63           1339.48                                 360                            355                                6.15
       16356665      G02                                     171200           1087.83                                 360                            356                                6.67
       16356666      G03                                     173800           1013.83                                 360                            356                               6.145
       16356667      G03                                     650000           3520.83                                 360                            355                               6.125
       16356668      G03                                  135830.21             749.9                                 360                            355                                5.77
       16356670      G03                                     251000            1542.6                                 360                            355                                6.52
       16356671      G03                                     180000            1087.5                                 360                            355                               6.395
       16356672      G03                                     124350            764.23                                 360                            355                                6.42
       16356673      G01                                  718659.77           4118.93                                 360                            357                                 6.5
       16356674      G04                                     993350           5691.07                                 360                            356                                 6.5
       16356675      G03                                   79209.02            496.06                                 360                            355                               6.545
       16356676      G03                                     210000           1203.13                                 360                            355                                6.02
       16356677      G03                                  199499.09           1163.74                                 360                            355                               6.045
       16356678      G01                                     237950           1660.69                                 360                            357                                   8
       16356679      G02                                  119562.78            610.27                                 360                            355                                5.75
       16356680      G02                                  149984.58            906.16                                 360                            355                               6.295
       16356681      G03                                     649950           3385.16                                 360                            355                               5.875
       16356682      G03                                     727850           3715.07                                 360                            355                                5.75
       16356474      G04                                  159913.23            782.91                                 360                            352                                 5.5
       16356475      G03                                  564852.87            2883.7                                 360                            352                                5.75
       16356476      G03                                  126693.72            646.67                                 360                            352                                5.75
       16356477      G03                                     476350           2480.99                                 360                            353                               5.875
       16356478      G01                                     125600            562.58                                 360                            352                                   5
       16356479      G02                                  173999.72               870                                 360                            352                               5.625
       16356480      G02                                     149400            715.88                                 360                            352                               5.375
       16356481      G02                                  567435.06           2897.33                                 360                            352                                5.75
       16356482      G03                                  996850.54            5207.2                                 360                            352                               5.875
       16356483      G02                                   34926.92            178.38                                 360                            353                                5.75
       16356484      G03                                     477300            2386.5                                 360                            352                               5.625
       16356485      G04                                     188800               944                                 360                            352                               5.625
       16356486      G02                                     150300            735.84                                 360                            352                                 5.5
       16356487      G04                                  312184.73           1503.77                                 360                            352                               5.375
       16356488      G01                                     152000               855                                 360                            352                               6.375
       16356489      G03                                     210000           1071.88                                 360                            353                                5.75
       16356490      G02                                     140350            789.47                                 360                            352                               6.375
       16356491      G04                                     367500           1799.22                                 360                            352                                 5.5
       16356492      G03                                     445000              2225                                 360                            352                               5.625
       16356493      G03                                     650000           3317.71                                 360                            352                                5.75
       16356494      G03                                     300700           1816.73                                 360                            355                               6.395
       16356495      G02                                     374200           1832.02                                 360                            352                                 5.5
       16356625      G03                                  169757.04            955.57                                 360                            355                               5.895
       16356626      G03                                    1430000           7745.83                                 360                            355                               6.125
       16356627      G03                                  299699.39            1841.9                                 360                            355                                6.52
       16356628      G03                                  134908.32            815.07                                 360                            355                               6.295
       16356629      G03                                     310000           1905.21                                 360                            355                                6.52
       16356630      G03                                  218113.43           1341.63                                 360                            355                                6.52
       16356631      G03                                     552000              2875                                 360                            355                               5.875
       16356632      G04                                     169900           1026.48                                 360                            356                               6.395
       16356633      G03                                     222900           1439.56                                 360                            356                               6.695
       16356634      G03                                  407698.99           2463.18                                 360                            355                               6.295
       16356635      G02                                     366500            1832.5                                 360                            355                               5.625
       16356636      G02                                     290150           1783.21                                 360                            355                                6.52
       16356637      G03                                     198400           1281.33                                 360                            356                               6.795
       16356638      G03                                     183700             918.5                                 360                            355                               5.625
       16356639      G03                                  286846.43           1733.65                                 360                            356                               6.395
       16356640      G03                                     311600           1817.67                                 360                            355                               6.275
       16356496      G01                                     113950            700.32                                 360                            352                                   7
       16356497      G02                                     512800           2617.42                                 360                            352                                5.75
       16356498      G02                                  109127.85            534.43                                 360                            352                                 5.5
       16356499      G03                                  269870.76           1518.02                                 360                            352                               5.895
       16356500      G03                                  138524.57             779.2                                 360                            352                               5.895
       16356501      G02                                     213050           1020.86                                 360                            352                               5.375
       16356502      G02                                  306766.86           1471.63                                 360                            352                               5.375
       16356503      G03                                  176598.29            974.97                                 360                            352                                6.25
       16356504      G01                                     960000              5200                                 360                            352                               6.125
       16356505      G04                                   95789.17            527.01                                 360                            352                               6.125
       16356506      G02                                     238400              1192                                 360                            352                               5.625
       16356507      G03                                  163071.29            952.96                                 360                            352                               6.625
       16356508      G03                                  560386.18            2860.3                                 360                            352                                5.75
       16356509      G02                                  179778.95            898.89                                 360                            353                               5.625
       16356510      G02                                     183350           1069.54                                 360                            353                               6.625
       16356511      G03                                  195876.84           1163.02                                 360                            355                                6.27
       16356512      G02                                     731250           3656.25                                 360                            352                               5.625
       16356513      G01                                     780000           4306.25                                 360                            352                                6.25
       16356514      G03                                  998138.12           5510.59                                 360                            358                                6.25
       16356515      G02                                  113588.38            579.77                                 360                            353                                5.75
       16356516      G02                                     176700            865.09                                 360                            352                                 5.5
       16356517      G01                                     800000           4416.67                                 360                            352                                6.25
       16356518      G03                                  314999.98           1607.81                                 360                            353                                5.75
       16356519      G02                                  152461.27            921.12                                 360                            355                               6.395
       16356520      G03                                     143900            734.49                                 360                            353                                5.75
       16356521      G03                                  618113.07           3090.57                                 360                            353                               5.625
       16356522      G03                                    1378850            7612.4                                 360                            356                                6.25
       16356523      G03                                     329600           1682.33                                 360                            353                                5.75
       16356524      G02                                  426749.16           2044.84                                 360                            353                               5.375
       16356525      G03                                     391400           1997.77                                 360                            353                                5.75
       16356527      G03                                     354900           2070.25                                 360                            353                               6.145
       16356528      G02                                     179600            991.54                                 360                            356                                5.77
       16356529      G02                                  454696.05           3078.67                                 360                            353                                7.75
       16356530      G02                                     111900            547.84                                 360                            353                                 5.5
       16356531      G02                                     204000              1020                                 360                            353                               5.625
       16356532      G03                                     880000           4858.33                                 360                            355                                6.25
       16356533      G03                                     208000           1061.67                                 360                            353                                5.75
       16356534      G03                                     564000           2878.75                                 360                            354                                5.75
       16356535      G03                                     609000           3108.44                                 360                            353                                5.75
       16356536      G03                                     505000           2630.21                                 360                            353                               5.875
       16356537      G02                                     241698           1208.49                                 360                            353                               5.625
       16356538      G03                                     876000            4562.5                                 360                            353                               5.875
       16356539      G03                                     276000              1725                                 360                            356                               6.645
       16356541      G03                                     242110           1538.41                                 360                            356                                6.67
       16356542      G03                                     335000           2093.75                                 360                            356                               6.545
       16356543      G03                                     188800              1239                                 360                            357                                6.86
       16356544      G01                                     207000              1035                                 360                            353                               5.625
       16356545      G03                                     123500            823.33                                 360                            356                               7.115
       16356546      G03                                     316300           1943.93                                 360                            355                                6.42
       16356547      G02                                     154900            1000.4                                 360                            357                               6.795
       16356548      G03                                     152550            921.66                                 360                            356                               6.295
       16356549      G02                                     199000           1160.83                                 360                            353                               6.145
       16356550      G02                                     639800           3998.75                                 360                            357                               6.645
       16356551      G01                                     127650            744.63                                 360                            357                               6.625
       16356552      G03                                  206999.82           1250.62                                 360                            355                               6.395
       16356553      G02                                   137744.3            846.55                                 360                            355                                6.52
       16356554      G01                                     558550           2909.11                                 360                            355                               5.875
       16356555      G03                                  300354.73           1783.36                                 360                            355                                6.27
       16356556      G02                                     164900           1082.16                                 360                            357                                7.02
       16356558      G02                                     127900            719.44                                 360                            358                               6.375
       16356559      G03                                     457800              2289                                 360                            355                               5.625
       16356560      G03                                  184393.77           1171.81                                 360                            356                                6.77
       16356561      G03                                     130050            704.44                                 360                            357                               6.125
       16356562      G03                                     240150           1425.89                                 360                            355                                6.17
       16356563      G03                                  361997.98            2337.9                                 360                            357                               6.895
       16356564      G03                                     218900           1299.72                                 360                            355                                6.27
       16356565      G03                                  179797.75           1011.37                                 360                            355                               5.895
       16356566      G03                                     124850            806.32                                 360                            357                               6.795
       16356567      G03                                     240000              1375                                 360                            356                                6.02
       16356568      G03                                     444800           2270.33                                 360                            355                                5.75
       16356569      G02                                     363850           2084.56                                 360                            356                                5.92
       16356570      G03                                     249750           1430.86                                 360                            355                                6.02
       16356571      G02                                     321900           2045.41                                 360                            357                                6.77
       16356572      G02                                     132900            858.31                                 360                            357                               6.795
       16356573      G03                                     118500            641.88                                 360                            355                               6.125
       16356574      G02                                     208400           1345.92                                 360                            357                               6.795
       16356575      G03                                     209550           1287.86                                 360                            356                                6.52
       16356576      G03                                  684519.41           3636.51                                 360                            356                                   6
       16356577      G03                                     135950            863.85                                 360                            356                                6.77
       16356578      G03                                     307500           1825.78                                 360                            355                                6.75
       16356579      G02                                     300000            1437.5                                 360                            355                               5.375
       16356580      G03                                     132950            803.24                                 360                            355                               6.395
       16356581      G03                                     720000              4050                                 360                            356                               6.375
       16356582      G01                                    1000000           4895.83                                 360                            356                                 5.5
       16356583      G03                                  179884.29           1105.54                                 360                            356                                6.52
       16356584      G02                                     383650           2277.92                                 360                            356                                6.39
       16356585      G02                                  158087.47            922.18                                 360                            355                               6.145
       16356586      G02                                     209900           1268.15                                 360                            357                               6.295
       16356587      G02                                     181600           1097.17                                 360                            355                               6.295
       16356588      G03                                     118000            712.92                                 360                            357                               6.395
       16356589      G01                                     888650           4535.82                                 360                            355                                5.75
       16356590      G04                                    1248750           6633.98                                 360                            357                                   6
       16356591      G02                                     115000            646.88                                 360                            355                               5.895
       16356592      G02                                     845000           5457.29                                 360                            356                               7.375
       16356593      G03                                     520000            2762.5                                 360                            355                                   6
       16356594      G03                                  102240.23            575.14                                 360                            355                               5.895
       16356595      G03                                     284400           1807.13                                 360                            356                                6.67
       16356596      G03                                     299600           1810.08                                 360                            355                               6.425
       16356597      G03                                  218383.55            1046.9                                 360                            355                               5.375
       16356598      G03                                  435653.24           2178.27                                 360                            355                               5.625
       16356599      G04                                   196870.3           1108.59                                 360                            355                               5.895
       16356600      G03                                  543189.91           2715.95                                 360                            356                               5.625
       16356601      G03                                     290000           1661.46                                 360                            355                                6.02
       16356602      G03                                    1500000            7812.5                                 360                            357                               5.875
       16356603      G03                                     286500           1701.09                                 360                            356                                6.17
       16356604      G01                                     193600            947.83                                 360                            355                                 5.5
       16356605      G03                                     249250           1505.89                                 360                            357                               6.395
       16356606      G03                                     206600           1183.65                                 360                            357                                6.15
       16356607      G03                                     183450           1070.13                                 360                            357                               6.145
       16356608      G02                                     119350            671.34                                 360                            358                               6.375
       16356609      G03                                     178000           1075.42                                 360                            355                               6.395
       16356610      G03                                     168000              1050                                 360                            355                               6.545
       16356611      G03                                     659650           3504.39                                 360                            357                                   6
       16356612      G03                                     150950            911.99                                 360                            357                               6.395
       16356613      G03                                  151349.11            898.64                                 360                            356                                6.27
       16356614      G03                                     285000           1721.88                                 360                            355                               6.395
       16356615      G03                                     684000            3847.5                                 360                            357                               6.375
       16356616      G03                                     213750           1246.88                                 360                            355                               6.275
       16356617      G03                                     800000              4500                                 360                            357                               6.375
       16356618      G04                                    1072000           6141.67                                 360                            355                                 6.5
       16356619      G03                                   86684.13            541.96                                 360                            355                               6.645
       16356620      G03                                     330000           2028.13                                 360                            355                                6.42
       16356621      G03                                     388000           2344.17                                 360                            355                               6.395
       16356622      G03                                     194750           1115.76                                 360                            355                                6.15
       16356623      G03                                     688000           3511.67                                 360                            356                                5.75
       16356624      G03                                  114997.92            694.78                                 360                            356                               6.295
       16356253      G03                                     186050           1027.15                                 360                            357                                6.25
       16356254      G02                                     210000           1006.25                                 360                            353                               5.375
       16356256      G03                                     211600           1234.33                                 360                            356                               6.625
       16356257      G02                                     263300           1289.07                                 360                            353                                 5.5
       16356258      G03                                     193000           1105.73                                 360                            358                                 6.5
       16356260      G02                                  163901.23            802.74                                 360                            352                                 5.5
       16356261      G02                                   159998.4            816.66                                 360                            357                                5.75
       16356262      G03                                     710879           3850.59                                 360                            358                               6.125
       16356263      G02                                     128150            840.98                                 360                            358                                 7.5
       16356264      G03                                     267550           1644.32                                 360                            357                                   7
       16356265      G02                                     283250           1386.74                                 360                            355                                 5.5
       16356266      G02                                     127700            744.92                                 360                            356                               6.145
       16356267      G04                                     234550           1197.18                                 360                            350                                5.75
       16356268      G02                                     163600            766.88                                 360                            355                                5.25
       16356269      G03                                  338576.81           1692.88                                 360                            351                               5.625
       16356270      G02                                     358750           1719.01                                 360                            355                               5.375
       16356271      G03                                  137699.71            789.19                                 360                            355                                6.02
       16356272      G02                                     159100            712.64                                 360                            355                                   5
       16356273      G02                                     128500            629.11                                 360                            351                                 5.5
       16356274      G02                                  563677.91           3288.12                                 360                            357                               6.145
       16356275      G01                                     210000           1159.38                                 360                            357                                6.25
       16356276      G02                                  149253.36            701.03                                 360                            356                                5.25
       16356277      G03                                  463027.11           2652.76                                 360                            356                                 6.5
       16356278      G03                                     133300            722.04                                 360                            356                               5.775
       16356279      G02                                     320100           1567.16                                 360                            352                                 5.5
       16356280      G04                                     197600               988                                 360                            351                               5.625
       16356281      G01                                     650000           3317.71                                 360                            353                                5.75
       16356282      G01                                     250150           1276.81                                 360                            353                                5.75
       16356283      G02                                  114946.81            658.55                                 360                            351                                 6.5
       16356284      G03                                     123200            705.83                                 360                            358                                 6.5
       16356285      G03                                     120400            790.13                                 360                            357                                6.99
       16356286      G02                                  307088.82           1759.36                                 360                            356                                6.02
       16356287      G02                                  340768.29            1745.3                                 360                            351                                5.75
       16356288      G02                                  567017.16           2716.96                                 360                            348                               5.375
       16356289      G04                                    1230000           6678.63                                 360                            351                               6.125
       16356290      G02                                   54749.91             268.2                                 360                            351                                 5.5
       16356291      G02                                  180999.88               905                                 360                            353                               5.625
       16356292      G02                                     970650           6066.56                                 360                            351                               7.125
       16356293      G02                                     380000           1820.83                                 360                            351                               5.375
       16356294      G01                                 1199731.25            5373.8                                 360                            349                                   5
       16356222      G03                                    1136000           5916.67                                 360                            352                               5.875
       16356223      G04                                     941500           5197.86                                 360                            352                                6.25
       16356224      G03                                     650000           3317.71                                 360                            355                                5.75
       16356225      G01                                   173600.3           2293.88                                 360                            353                               6.125
       16356226      G03                                   467698.5           2338.49                                 360                            352                               5.625
       16356227      G03                                     205500           1198.75                                 360                            356                               6.145
       16356228      G03                                  363667.52           2348.69                                 360                            356                               6.895
       16356229      G03                                  909623.31           4866.61                                 360                            353                                   6
       16356230      G03                                    1500000           7656.25                                 360                            355                                5.75
       16356231      G02                                     181200           1151.38                                 360                            352                                7.25
       16356232      G01                                  428536.61           2008.77                                 360                            351                                5.25
       16356234      G01                                     138800            636.17                                 360                            353                               5.125
       16356235      G01                                     174700            928.09                                 360                            355                                   6
       16356236      G03                                  135248.69            690.33                                 360                            353                                5.75
       16356237      G03                                    1092500            5576.3                                 360                            351                                5.75
       16356238      G02                                     138450            706.67                                 360                            353                                5.17
       16356239      G02                                     524700           2568.84                                 360                            356                                 5.5
       16356240      G02                                  331403.99           1657.02                                 360                            352                               5.625
       16356241      G01                                  207728.26           1060.28                                 360                            353                                5.75
       16356242      G03                                  196149.59           1144.21                                 360                            353                               6.625
       16356243      G03                                     800000           4166.67                                 360                            356                               5.875
       16356244      G02                                     444000            1942.5                                 360                            358                               4.875
       16356246      G01                                     950000           5244.79                                 360                            357                                6.25
       16356250      G02                                     208000           1148.33                                 360                            351                                6.25
       16356251      G01                                     262550           1586.24                                 360                            358                               6.875
       16356252      G02                                  298101.95           1490.82                                 360                            356                               5.625
       16356373      G03                                     186100            988.66                                 360                            352                                   6
       16356374      G01                                     289400           1296.27                                 360                            352                                   5
       16356375      G02                                     229450           1242.85                                 360                            352                               6.125
       16356376      G03                                  414986.47           2507.21                                 360                            356                               6.395
       16356377      G02                                  527499.51           2582.55                                 360                            352                                 5.5
       16356378      G02                                     718400           3442.33                                 360                            354                               5.375
       16356379      G02                                     416000           2123.33                                 360                            353                                5.75
       16356380      G02                                     184000            900.83                                 360                            356                                 5.5
       16356381      G01                                     235200            1102.5                                 360                            352                                5.25
       16356382      G03                                   320561.6           1871.09                                 360                            357                               5.985
       16356383      G03                                     840000            4637.5                                 360                            352                                6.25
       16356384      G03                                     540800           2760.33                                 360                            352                                5.75
       16356385      G03                                  313702.64           1601.45                                 360                            352                                5.75
       16356386      G02                                  267214.83           1336.07                                 360                            352                               5.625
       16356387      G03                                     576000              2940                                 360                            352                                5.75
       16356389      G02                                     126500            619.32                                 360                            353                                 5.5
       16356390      G02                                     234700           1150.52                                 360                            355                                 5.5
       16356391      G02                                      93600            477.75                                 360                            352                                5.75
       16356392      G03                                     452000              2260                                 360                            352                               5.625
       16356393      G03                                     720000              3750                                 360                            353                               5.875
       16356394      G03                                  779999.94            4062.5                                 360                            352                               5.875
       16356395      G01                                     195200            955.67                                 360                            353                                 5.5
       16356396      G04                                     233900            1169.5                                 360                            353                               5.625
       16356397      G03                                     411950           2102.66                                 360                            353                                5.75
       16356398      G03                                   897062.5           4391.87                                 360                            358                                 5.5
       16356399      G02                                     183300            878.31                                 360                            352                               5.375
       16356400      G03                                     179500             916.2                                 360                            352                                5.75
       16356401      G03                                  219999.27           1122.91                                 360                            352                                5.75
       16356402      G01                                    1209500           5795.52                                 360                            352                               5.375
       16356403      G03                                     413000           2213.54                                 360                            357                               5.875
       16356404      G02                                     326400              1598                                 360                            352                                 5.5
       16356405      G01                                     245000           1250.52                                 360                            352                                5.75
       16356406      G02                                     240000              1225                                 360                            352                                5.75
       16356407      G04                                     264000              1320                                 360                            352                               5.625
       16356408      G03                                     171850            966.66                                 360                            357                               6.375
       16356409      G01                                     532500           2717.97                                 360                            352                                5.75
       16356410      G01                                     650000           3385.42                                 360                            353                               5.875
       16356411      G02                                     200000              1000                                 360                            352                               5.625
       16356412      G03                                     193200              1127                                 360                            356                               6.175
       16356413      G04                                     248300           1215.64                                 360                            353                                 5.5
       16356414      G02                                     749000           4525.21                                 360                            352                               6.875
       16356415      G02                                     127900             639.5                                 360                            352                               5.625
       16356416      G02                                  132324.08            661.62                                 360                            353                               5.625
       16356417      G02                                     214400           1049.67                                 360                            352                                 5.5
       16356419      G03                                  330255.67            1685.7                                 360                            352                                5.75
       16356420      G02                                     314200           1538.27                                 360                            352                                 5.5
       16356421      G03                                  183573.08            936.99                                 360                            352                                5.75
       16356422      G03                                     235750           1424.32                                 360                            357                               6.875
       16356423      G02                                     127000            608.54                                 360                            352                               5.375
       16356424      G02                                     232500           1501.56                                 360                            353                               7.375
       16356425      G03                                  231702.16           1182.65                                 360                            352                                5.75
       16356426      G02                                  303913.49           1519.57                                 360                            352                               5.625
       16356427      G03                                     228000           1163.75                                 360                            352                                5.75
       16356428      G02                                     206600           1011.48                                 360                            352                                 5.5
       16356429      G02                                     572000           2919.58                                 360                            352                                5.75
       16356430      G02                                     340000           1735.42                                 360                            352                                5.75
       16356431      G02                                  499444.49           2497.22                                 360                            352                               5.625
       16356432      G01                                  224998.55           1148.43                                 360                            352                                5.75
       16356433      G04                                  460918.59           2401.64                                 360                            352                               5.875
       16356434      G03                                  211599.62           1168.21                                 360                            352                                5.77
       16356435      G02                                     150450            736.58                                 360                            352                                 5.5
       16356436      G02                                  211466.73           1079.36                                 360                            353                                5.75
       16356437      G02                                     290400              1452                                 360                            352                               5.625
       16356438      G01                                     683900           3633.22                                 360                            353                                   6
       16356439      G04                                    1561500           8295.47                                 360                            352                                   6
       16356440      G02                                   155899.3            747.02                                 360                            352                               5.375
       16356441      G02                                  341198.92           1670.45                                 360                            352                                 5.5
       16356442      G02                                     617950           3218.49                                 360                            352                               5.875
       16356443      G03                                   142175.5            725.69                                 360                            352                                5.75
       16356444      G03                                     651000              3255                                 360                            352                               5.625
       16356445      G02                                     509000              2545                                 360                            352                               5.625
       16356446      G03                                  170156.87            869.02                                 360                            352                                5.75
       16356447      G04                                     268000              1340                                 360                            352                               5.625
       16356448      G03                                  147441.93               814                                 360                            352                                6.25
       16356449      G03                                     161900            961.28                                 360                            352                                6.75
       16356450      G02                                     415000           2031.77                                 360                            352                                 5.5
       16356451      G02                                  271288.67           1299.92                                 360                            352                               5.375
       16356452      G01                                     221400           1130.06                                 360                            352                                5.75
       16356453      G02                                     398000           1948.54                                 360                            353                                 5.5
       16356454      G02                                  519576.22           2544.76                                 360                            353                                 5.5
       16356455      G03                                  287690.73           1468.42                                 360                            352                                5.75
       16356456      G02                                     244800              1173                                 360                            352                               5.375
       16356457      G03                                     672000              3500                                 360                            352                               5.875
       16356458      G02                                     346400           1695.92                                 360                            352                                 5.5
       16356459      G02                                     481200              2406                                 360                            352                               5.625
       16356460      G02                                     296000           1510.83                                 360                            352                                5.75
       16356461      G03                                     430200              2151                                 360                            352                               5.625
       16356462      G03                                     308000           1572.08                                 360                            352                                5.75
       16356463      G03                                  204279.06           1042.67                                 360                            352                                5.75
       16356464      G01                                    1750000           8567.71                                 360                            352                                 5.5
       16356465      G02                                     145600            712.83                                 360                            352                                 5.5
       16356466      G03                                    2003500           10434.9                                 360                            352                               5.875
       16356467      G03                                  224599.39           1380.97                                 360                            355                                6.52
       16356468      G02                                  340116.52           1665.16                                 360                            352                                 5.5
       16356469      G03                                  344297.45           1761.95                                 360                            352                                5.75
       16356470      G03                                     280000           1429.17                                 360                            352                                5.75
       16356471      G03                                     189850           1067.91                                 360                            352                               6.375
       16356472      G02                                     193500           1108.59                                 360                            352                                 6.5
       16356473      G02                                     128350            641.75                                 360                            353                               5.625
       16356327      G03                                     157900             789.5                                 360                            355                               5.625
       16356328      G03                                  141198.98             720.7                                 360                            353                                5.75
       16356330      G01                                     600000              2625                                 360                            351                               4.875
       16356331      G02                                  295198.72           1783.49                                 360                            356                               6.525
       16356332      G02                                  326799.92           1599.96                                 360                            351                                 5.5
       16356333      G03                                     789750           4277.81                                 360                            351                               6.125
       16356334      G03                                     262400           1339.33                                 360                            351                                5.75
       16356335      G03                                  226869.74           1252.51                                 360                            352                                6.25
       16356336      G03                                  188539.62            962.87                                 360                            351                                5.75
       16356337      G04                                  265601.12           1245.01                                 360                            350                                5.25
       16356338      G04                                     172000            842.08                                 360                            351                                 5.5
       16356339      G01                                  151807.19            715.81                                 360                            351                                5.25
       16356340      G02                                     215100           1053.09                                 360                            353                                 5.5
       16356357      G02                                     778000              3890                                 360                            353                               5.625
       16356359      G02                                     275300            1376.5                                 360                            355                               5.625
       16356360      G03                                     288000              1470                                 360                            353                                5.75
       16356361      G04                                  189875.46            909.82                                 360                            351                               5.375
       16356362      G02                                  648505.44           3647.84                                 360                            351                               6.375
       16356363      G03                                     216750           1106.33                                 360                            353                                5.75
       16356364      G02                                     348000           1776.25                                 360                            352                                5.75
       16356365      G04                                     124000            581.25                                 360                            351                                5.25
       16356366      G02                                     136000            665.83                                 360                            352                                 5.5
       16356367      G02                                     371200           1817.33                                 360                            352                                 5.5
       16356368      G04                                  345239.11           1690.23                                 360                            351                                 5.5
       16356369      G02                                  332497.97           1731.76                                 360                            353                               5.875
       16356371      G03                                  201000.66           1151.57                                 360                            352                                6.02
       16356372      G02                                     172700             863.5                                 360                            352                               5.625
       16356343      G02                                     223950           1073.09                                 360                            351                               5.375
       16356344      G02                                     164000            802.92                                 360                            351                                 5.5
       16356345      G04                                  159864.77            766.02                                 360                            353                               5.375
       16356346      G03                                  235434.13           1446.94                                 360                            355                                6.42
       16356347      G01                                  217288.01            995.92                                 360                            351                               5.125
       16356348      G02                                     394400           1889.83                                 360                            351                               5.375
       16356349      G04                                     297000           1454.06                                 360                            351                                 5.5
       16356351      G03                                     140300            716.11                                 360                            351                                5.75
       16356352      G03                                     404900           2066.68                                 360                            352                                5.75
       16356353      G03                                     505600              2528                                 360                            357                               5.625
       16356354      G03                                     175000            984.38                                 360                            355                               5.895
       16356355      G01                                     560000           2566.67                                 360                            351                               5.125
       16356356      G02                                  213091.48           1177.56                                 360                            351                                6.25
       16356295      G03                                     169550            989.04                                 360                            352                               6.625
       16356296      G01                                     133550            667.75                                 360                            351                               5.625
       16356297      G03                                     114200            761.33                                 360                            357                               7.115
       16356298      G02                                     181500             907.5                                 360                            351                               5.625
       16356299      G03                                  509989.72           2603.07                                 360                            351                                5.75
       16356300      G01                                     518300           2645.49                                 360                            353                                5.75
       16356301      G04                                     268000           1312.08                                 360                            350                                 5.5
       16356302      G02                                     106950            534.75                                 360                            351                               5.625
       16356303      G02                                     128050            800.31                                 360                            357                               7.125
       16356304      G03                                     610000           3685.42                                 360                            358                               6.875
       16356305      G01                                     417400           1913.08                                 360                            350                               5.125
       16356306      G03                                     854500           4361.51                                 360                            351                                5.75
       16356307      G01                                     185600            889.33                                 360                            351                               5.375
       16356308      G02                                  143892.96            734.45                                 360                            352                                5.75
       16356309      G02                                   586978.1           2873.75                                 360                            351                                 5.5
       16356310      G02                                     278800              1394                                 360                            351                               5.625
       16356311      G02                                   283641.2           1448.28                                 360                            351                                5.75
       16356312      G03                                     129550            755.71                                 360                            356                               6.175
       16356313      G02                                     180200            919.77                                 360                            353                                5.75
       16356314      G02                                     118900            656.43                                 360                            353                                5.77
       16356315      G02                                     151100            739.76                                 360                            351                                 5.5
       16356317      G01                                     151100            724.02                                 360                            351                               5.375
       16356319      G03                                   218139.8           1113.42                                 360                            353                                5.75
       16356320      G02                                   253037.4           1212.47                                 360                            351                               5.375
       16356321      G02                                     136800            926.25                                 360                            351                                7.75
       16356322      G01                                    1750000           8567.71                                 360                            350                                 5.5
       16356323      G04                                     374400              1872                                 360                            350                               5.625
       16356324      G02                                  215480.45           1144.74                                 360                            351                                   6
       16356325      G02                                     193200           1106.88                                 360                            356                                6.05
       16356326      G04                                    96609.1            445.33                                 360                            350                               5.125
       16357495      G02                                      77300            483.13                                 360                            356                               6.485
       16357496      G04                                      99990            541.61                                 360                            357                               6.125
       16357497      G03                                     136900             827.1                                 360                            356                               6.395
       16357498      G03                                  228956.44           1407.13                                 360                            356                                6.52
       16357445      G03                                     293500           1589.79                                 360                            355                               5.545
       16357446      G04                                     162000               810                                 360                            356                               5.625
       16357447      G03                                     201998           1220.41                                 360                            355                               6.395
       16357448      G03                                     334800           1639.13                                 360                            355                                 5.5
       16357449      G04                                  209728.67           1245.26                                 360                            355                                6.27
       16357450      G03                                    2088800          10879.17                                 360                            356                               5.875
       16357451      G04                                     360700            2216.8                                 360                            356                                6.42
       16357452      G03                                  839434.28           4809.26                                 360                            356                                 6.5
       16357453      G03                                     728000           3715.83                                 360                            355                                5.75
       16357454      G03                                   107150.6            636.21                                 360                            355                                6.27
       16357455      G03                                  183048.88           1030.77                                 360                            355                               6.115
       16357456      G03                                     138650            837.68                                 360                            355                               6.425
       16357457      G03                                     392000           2123.33                                 360                            355                               5.645
       16357458      G04                                     107900             651.9                                 360                            355                               6.395
       16357459      G04                                     364000           2050.31                                 360                            358                               6.375
       16357460      G03                                     121000            768.85                                 360                            356                                6.77
       16357461      G03                                     153200            909.63                                 360                            356                                6.27
       16357462      G03                                     158000            938.13                                 360                            356                                6.27
       16357463      G03                                     307800              1539                                 360                            356                               5.625
       16357464      G03                                     257800            1584.4                                 360                            356                                6.52
       16357465      G03                                     199750           1248.44                                 360                            357                               6.645
       16357466      G03                                     224450           1285.91                                 360                            356                                5.99
       16357467      G03                                  191991.27            959.96                                 360                            356                               5.625
       16357468      G03                                     207350           1209.54                                 360                            357                               6.045
       16357469      G03                                     207350           1231.14                                 360                            355                                6.27
       16357470      G02                                     111900            699.38                                 360                            356                               6.545
       16357471      G04                                  406978.55           2420.06                                 360                            355                                6.27
       16357472      G03                                  154997.72           1001.03                                 360                            356                               6.795
       16357473      G04                                     182250           1006.17                                 360                            355                                5.89
       16357474      G03                                     116104            556.33                                 360                            356                               5.375
       16357475      G04                                  346601.36           2021.84                                 360                            355                               6.175
       16357476      G03                                     496000           2583.33                                 360                            358                               5.875
       16357477      G01                                     800000           4416.67                                 360                            356                                6.25
       16357478      G04                                  218998.35           1323.12                                 360                            357                               6.395
       16357479      G03                                  271216.43           1471.22                                 360                            356                               5.645
       16357480      G03                                     392000              2450                                 360                            356                               6.545
       16357481      G03                                     128000            773.33                                 360                            357                               6.295
       16357482      G04                                     156000            911.17                                 360                            356                               6.145
       16357483      G02                                  243799.52           1523.75                                 360                            356                               6.545
       16357484      G03                                     216990           1310.98                                 360                            357                               6.395
       16357485      G02                                  352134.68           2017.44                                 360                            357                                 6.5
       16357486      G03                                     117950             724.9                                 360                            356                                6.42
       16357487      G02                                     388000           2303.75                                 360                            356                                6.17
       16357488      G03                                     155950            925.95                                 360                            356                                6.17
       16357489      G03                                     142400            697.17                                 360                            356                                 5.5
       16357490      G04                                     174000              1015                                 360                            356                               6.145
       16357491      G03                                     225700           1034.46                                 360                            356                               5.125
       16357492      G04                                  184599.24           1172.97                                 360                            356                                6.77
       16357493      G03                                    1000000           5520.83                                 360                            356                                6.25
       16357494      G03                                    1499950           8280.97                                 360                            356                                6.25
       16357358      G02                                     215900           1191.95                                 360                            358                                6.25
       16357359      G02                                     591950           3083.07                                 360                            358                               5.875
       16357360      G02                                     165400           1050.98                                 360                            358                                7.25
       16357361      G02                                     145600           1031.33                                 360                            358                               8.125
       16357362      G04                                     528000              2860                                 360                            358                               6.125
       16357363      G02                                     650000           3182.29                                 360                            352                                 5.5
       16357364      G02                                    1385400           7071.31                                 360                            357                                5.75
       16357365      G03                                     178950            876.11                                 360                            357                                 5.5
       16357366      G04                                     111150            567.33                                 360                            352                                5.75
       16357367      G04                                     184600            884.54                                 360                            351                               5.375
       16357368      G02                                     312000            1527.5                                 360                            352                                 5.5
       16357369      G03                                    1340000           7118.75                                 360                            355                                   6
       16357370      G02                                     340400           1631.08                                 360                            356                               5.375
       16357371      G03                                   517569.8           2591.94                                 360                            353                               5.625
       16357372      G03                                     382000           2029.38                                 360                            355                                5.52
       16357373      G03                                  607955.74           3039.78                                 360                            353                               5.625
       16357374      G04                                  593963.66           3093.56                                 360                            351                               5.875
       16357375      G04                                     375000           1835.94                                 360                            351                                 5.5
       16357376      G04                                  110609.58            553.27                                 360                            351                               5.625
       16357377      G04                                  251616.35           1231.87                                 360                            351                                 5.5
       16357378      G03                                     316400           1614.96                                 360                            351                                5.75
       16357379      G02                                  215085.49              1031                                 360                            351                               5.375
       16357380      G04                                     245600           1253.58                                 360                            350                                5.75
       16357381      G01                                   574995.1           2819.98                                 360                            350                                 5.5
       16357382      G02                                  599814.87           2936.59                                 360                            351                                 5.5
       16357383      G02                                     400000           1958.33                                 360                            351                                 5.5
       16357384      G03                                     248000           1265.83                                 360                            351                                5.75
       16357385      G01                                     720800           3528.92                                 360                            351                                 5.5
       16357386      G03                                     520000              2600                                 360                            353                               5.625
       16357387      G03                                     850000              4250                                 360                            355                               5.625
       16357388      G03                                    1000000           5104.17                                 360                            355                                5.75
       16357389      G03                                  153749.39            784.76                                 360                            351                                5.75
       16357390      G04                                     212000            993.75                                 360                            351                                5.25
       16357391      G03                                  179524.22            916.35                                 360                            351                                5.75
       16357392      G04                                  171999.99            788.33                                 360                            351                               5.125
       16357393      G03                                     527800           3078.83                                 360                            351                               6.045
       16357394      G04                                     143900            704.51                                 360                            351                                 5.5
       16357395      G03                                   96647.73            543.64                                 360                            351                               5.795
       16357396      G02                                  159659.95            914.72                                 360                            351                                6.02
       16357397      G01                                     336000              1540                                 360                            351                               5.125
       16357398      G03                                  175588.82            896.23                                 360                            351                                5.75
       16357400      G02                                     171900            949.03                                 360                            355                                5.89
       16357401      G04                                     125000            611.98                                 360                            353                                 5.5
       16357402      G01                                     134000            614.17                                 360                            351                               5.125
       16357403      G03                                     202900           1035.64                                 360                            352                                5.75
       16357404      G02                                     322300            1611.5                                 360                            356                               5.625
       16357405      G04                                     149100            761.03                                 360                            353                                5.75
       16357406      G02                                     125000               625                                 360                            353                               5.625
       16357407      G03                                     520000           2654.17                                 360                            352                                5.75
       16357408      G02                                     132350            647.96                                 360                            353                                 5.5
       16357409      G03                                     612400           3125.79                                 360                            357                                5.75
       16357410      G02                                     128600               643                                 360                            352                               5.625
       16357411      G03                                  427396.14            2181.5                                 360                            352                                5.75
       16357412      G03                                  648888.67           3312.04                                 360                            352                                5.75
       16357413      G03                                     562600            2871.6                                 360                            352                                5.75
       16357414      G01                                     151970            759.85                                 360                            352                               5.625
       16357415      G02                                     358400           1754.67                                 360                            352                                 5.5
       16357416      G03                                    1176000            6002.5                                 360                            353                                5.75
       16357417      G02                                     113600               568                                 360                            352                               5.625
       16357418      G04                                     129600             661.5                                 360                            352                                5.75
       16357419      G02                                     103900            530.32                                 360                            352                                5.75
       16357420      G01                                  520149.95           2600.75                                 360                            352                               5.625
       16357421      G02                                     292799            1433.5                                 360                            353                                 5.5
       16357422      G04                                  162273.35            811.93                                 360                            352                               5.625
       16357423      G03                                     103100            526.24                                 360                            353                                5.75
       16357424      G01                                  634185.25           3435.17                                 360                            353                               6.125
       16357425      G03                                     181600            926.92                                 360                            353                                5.75
       16357426      G02                                      99200            506.33                                 360                            353                                5.75
       16357427      G02                                     196900           1107.56                                 360                            355                               5.795
       16357428      G02                                     157903             888.2                                 360                            355                               5.895
       16357430      G02                                     206450           1333.32                                 360                            356                               6.695
       16357431      G03                                     259900            1597.3                                 360                            357                                6.52
       16357432      G03                                     143900            929.35                                 360                            356                               6.895
       16357433      G03                                  331724.22           1831.39                                 360                            356                                5.77
       16357434      G03                                     133950            809.28                                 360                            355                               6.295
       16357435      G02                                     197000           1190.21                                 360                            355                               6.395
       16357436      G04                                    1331250           7072.27                                 360                            355                                   6
       16357437      G04                                  440999.02           2388.74                                 360                            357                               6.125
       16357438      G03                                     360000              1800                                 360                            355                               5.625
       16357439      G02                                    1195500           7720.94                                 360                            355                               7.375
       16357440      G03                                     720000              3825                                 360                            355                                   6
       16357441      G02                                     568800           3377.25                                 360                            355                                6.75
       16357442      G04                                  373746.51           2258.06                                 360                            355                               6.395
       16357443      G04                                     180000           1031.25                                 360                            355                                6.02
       16357444      G03                                     100000            604.17                                 360                            355                               6.395
       16231295      G02                                    1000000           4270.83                                 360                            356                                4.75
       16231296      G02                                     650000           3656.25                                 360                            354                               6.375
       16231297      G02                                     627000           3592.19                                 360                            354                                 6.5
       16231298      G02                                     503426           2464.86                                 360                            354                                 5.5
       16231299      G02                                  437965.84           2144.26                                 360                            354                                 5.5
       16231300      G02                                     351000              1755                                 360                            354                               5.625
       16231301      G02                                     626400           2805.75                                 360                            355                                   5
       16231302      G02                                  619537.75           2517.21                                 360                            355                                 4.5
       16231303      G02                                     250000           1302.08                                 360                            355                               5.875
       16231304      G02                                     487500           2742.19                                 360                            356                               6.375
       16231305      G02                                     615000           3010.94                                 360                            356                                 5.5
       16231306      G02                                  517346.98           1940.54                                 360                            355                               4.125
       16231307      G02                                     805000           4360.42                                 360                            356                               6.125
       16231308      G02                                     615000           2882.81                                 360                            356                                5.25
       16231309      G02                                     600000            2937.5                                 360                            356                                 5.5
       16231289      G02                                     313900           1732.99                                 360                            356                                6.25
       16231290      G02                                     504000              2520                                 360                            356                               5.625
       16231291      G02                                  569073.27            2728.1                                 360                            354                               5.375
       16231292      G02                                  358507.09           1793.57                                 360                            354                               5.625
       16231293      G02                                     725000              3625                                 360                            354                               5.625
       16231294      G02                                  445175.89           2183.97                                 360                            356                                 5.5
       16231254      G02                                   341572.5           1885.76                                 360                            355                                6.25
       16231255      G02                                     183900            900.34                                 360                            355                                 5.5
       16231256      G02                                  535026.81           2733.87                                 360                            355                                5.75
       16231257      G02                                     850000           3984.38                                 360                            355                                5.25
       16231258      G02                                     340000           1629.17                                 360                            356                               5.375
       16231259      G02                                     396000           1938.75                                 360                            356                                 5.5
       16231260      G02                                     250250           1355.52                                 360                            356                               6.125
       16231261      G02                                  598399.42            2994.5                                 360                            355                               5.625
       16231262      G02                                  258947.11           1348.69                                 360                            355                               5.875
       16231264      G02                                     240000              1050                                 360                            356                               4.875
       16231265      G02                                  166959.12             817.4                                 360                            354                                 5.5
       16231266      G02                                  247799.74           1291.01                                 360                            356                               5.875
       16231267      G02                                  449753.13           2201.92                                 360                            356                                 5.5
       16231268      G02                                     952000           4363.33                                 360                            354                               5.125
       16231269      G02                                  318795.49           1428.12                                 360                            354                                   5
       16231270      G02                                     229500           1027.97                                 360                            354                                   5
       16231271      G02                                     200250           1126.41                                 360                            355                               6.375
       16231272      G02                                     170900             854.5                                 360                            355                               5.625
       16231273      G02                                     471000            2157.6                                 360                            355                               5.125
       16231274      G02                                     282400              1412                                 360                            355                               5.625
       16231275      G02                                     544000              2380                                 360                            356                               4.875
       16231276      G02                                  571976.34           2681.16                                 360                            356                                5.25
       16231277      G02                                     160000            866.67                                 360                            354                               6.125
       16231278      G02                                     558750           2910.16                                 360                            354                               5.875
       16231280      G02                                   99523.34            539.08                                 360                            356                               6.125
       16231281      G02                                     417000           2041.56                                 360                            354                                 5.5
       16231282      G02                                     519500            2602.5                                 360                            355                               5.625
       16231283      G02                                     525600           2573.25                                 360                            356                                 5.5
       16231284      G02                                     650000           3046.88                                 360                            355                                5.25
       16231285      G02                                     475000           2226.56                                 360                            354                                5.25
       16231286      G02                                     556700           2551.54                                 360                            355                               5.125
       16231287      G02                                     459700           2394.27                                 360                            355                               5.875
       16231288      G02                                     459500           2441.09                                 360                            356                                   6
       16231228      G02                                     308800           1608.33                                 360                            354                               5.875
       16231229      G02                                  263371.59           1427.74                                 360                            354                               6.125
       16231230      G02                                     565000           2589.58                                 360                            355                               5.125
       16231231      G02                                  537563.82           2687.88                                 360                            356                               5.625
       16231232      G02                                     422000           2066.04                                 360                            356                                 5.5
       16231233      G02                                     492000            2152.5                                 360                            354                               4.875
       16231234      G02                                     672000              3430                                 360                            354                                5.75
       16231235      G02                                  109387.03            593.36                                 360                            354                               6.125
       16231236      G02                                     456000              2090                                 360                            355                               5.125
       16231237      G02                                  515663.35           2525.21                                 360                            355                                 5.5
       16231238      G02                                     637450           2921.65                                 360                            356                               5.125
       16231239      G02                                     212000           1148.33                                 360                            355                               6.125
       16231240      G02                                     960000              5300                                 360                            355                                6.25
       16231241      G02                                     162000            860.63                                 360                            355                                   6
       16231242      G02                                  187943.94            978.97                                 360                            354                               5.875
       16231243      G02                                     128800            550.08                                 360                            355                                4.75
       16231244      G02                                     200000           1145.83                                 360                            355                                 6.5
       16231245      G02                                     430400            2286.5                                 360                            356                                   6
       16231246      G02                                     497500           2809.69                                 360                            357                               6.375
       16231247      G02                                     336000              1750                                 360                            354                               5.875
       16231248      G02                                     160000               800                                 360                            355                               5.625
       16231250      G02                                     749250           3121.88                                 360                            355                               4.625
       16231252      G02                                  438615.35           2012.66                                 360                            355                               5.125
       16231253      G02                                     359100           1758.09                                 360                            355                                 5.5
       16231217      G02                                  525965.26           2794.28                                 360                            352                                   6
       16231218      G02                                     472000           2015.83                                 360                            355                                4.75
       16231219      G02                                  509830.17           2443.21                                 360                            356                               5.375
       16231220      G02                                     575000           2635.42                                 360                            356                               5.125
       16231221      G02                                     670000           3280.21                                 360                            354                                 5.5
       16231222      G02                                     284950           1454.43                                 360                            356                                5.75
       16231223      G02                                     424000           1943.33                                 360                            355                               5.125
       16231224      G02                                  619996.41           2841.66                                 360                            356                               5.125
       16231225      G02                                     448000              2240                                 360                            356                               5.625
       16231226      G02                                     218400              1183                                 360                            355                               6.125
       16231227      G02                                     650000              3250                                 360                            356                               5.625
       16592923      G02                                  599457.59           3792.41                                 360                            359                               6.125
       16592924      G02                                  751025.95           4508.62                                 360                            359                               5.625
       16592925      G02                                  494507.22           2967.78                                 360                            359                               5.625
       16592926      G02                                     502500            2512.5                                 360                            359                               5.625
       16592927      G02                                    1694000           8117.08                                 360                            359                               5.375
       16592928      G02                                  519529.92           3286.75                                 360                            359                               6.125
       16592929      G02                                  314999.99           1771.88                                 360                            359                               6.375
       16592930      G02                                     504000              2730                                 360                            359                               6.125
       16592931      G02                                     591000           3590.98                                 360                            360                                5.75
       16592932      G02                                     700000              3500                                 360                            359                               5.625
       16592933      G02                                     552000              2760                                 360                            359                               5.625
       16592934      G02                                  738110.22           4371.46                                 360                            359                                 5.5
       16592882      G02                                     512000           2613.33                                 360                            359                                5.75
       16592883      G02                                   689279.6           4026.65                                 360                            359                               5.375
       16592884      G02                                     535200            2564.5                                 360                            359                               5.375
       16592885      G02                                     329600           1579.33                                 360                            359                               5.375
       16592886      G02                                   219601.8           1408.68                                 360                            358                                6.25
       16592887      G02                                  479398.64           2916.53                                 360                            359                                5.75
       16592888      G02                                     460500           2110.63                                 360                            360                               5.125
       16592889      G02                                     564000              2820                                 360                            359                               5.625
       16592890      G02                                  570342.46           3189.53                                 360                            359                               4.875
       16592891      G02                                     584000            2737.5                                 360                            359                                5.25
       16592892      G02                                     299000           1619.58                                 360                            359                               6.125
       16592893      G02                                     478900              2400                                 360                            359                               5.625
       16592894      G02                                     440000           2291.67                                 360                            359                               5.875
       16592895      G02                                     441000           2388.75                                 360                            359                               6.125
       16592896      G02                                  491533.17           3029.33                                 360                            359                               5.875
       16592897      G02                                     637500           3320.31                                 360                            359                               5.875
       16592898      G02                                  450958.02           2208.02                                 360                            359                                 5.5
       16592899      G02                                     314200              1571                                 360                            360                               5.625
       16592900      G02                                     604400              3022                                 360                            359                               5.625
       16592901      G02                                     452000           2354.17                                 360                            359                               5.875
       16592902      G02                                     260000           1354.17                                 360                            359                               5.875
       16592903      G02                                     650000           2979.17                                 360                            359                               5.125
       16592904      G02                                  491912.05           2366.13                                 360                            359                               5.375
       16592905      G02                                     458400           2339.75                                 360                            359                                5.75
       16592906      G02                                     375000           2031.25                                 360                            359                               6.125
       16592907      G02                                     555800           2894.79                                 360                            359                               5.875
       16592908      G02                                  152655.01            940.82                                 360                            359                               5.875
       16592909      G02                                     479000           2045.73                                 360                            359                                4.75
       16592910      G02                                  506396.38              2532                                 360                            359                               5.625
       16592911      G02                                     500000              2500                                 360                            359                               5.625
       16592912      G02                                     862500           4761.72                                 360                            359                                6.25
       16592913      G02                                     593600           3029.83                                 360                            360                                5.75
       16592914      G02                                     463600           2462.88                                 360                            360                                   6
       16592916      G02                                     430000              2150                                 360                            359                               5.625
       16592917      G02                                  439572.34           2673.49                                 360                            359                                5.75
       16592918      G02                                   171033.6           1040.23                                 360                            359                                5.75
       16592919      G02                                     576800           3004.17                                 360                            359                               5.875
       16592920      G02                                  524499.47            2647.5                                 360                            359                               5.625
       16592921      G02                                     659300           3957.03                                 360                            359                               5.625
       16592922      G02                                     576000              3000                                 360                            359                               5.875
       16592935      G02                                     310000           1485.42                                 360                            359                               5.375
       16592936      G02                                     466000           2427.08                                 360                            360                               5.875
       16592937      G02                                     475400              2377                                 360                            360                               5.625
       16592938      G02                                     508000           2592.92                                 360                            359                                5.75
       16592939      G02                                     432000              2205                                 360                            360                                5.75
       16592940      G02                                     414000              2070                                 360                            359                               5.625
       16592941      G02                                     404500            2022.5                                 360                            359                               5.625
       16592942      G02                                     448000              2380                                 360                            359                                   6
       16592943      G02                                  287758.05           1891.95                                 360                            359                                 6.5
       16592944      G02                                  523039.03           2953.13                                 360                            359                               6.375
       16592945      G02                                     498500           2596.35                                 360                            359                               5.875
       16592946      G02                                    1000000           4270.83                                 360                            359                                4.75
       16592947      G02                                  944999.99           4921.88                                 360                            359                               5.875
       16592948      G02                                  509492.29           3057.71                                 360                            359                               5.625
       16592949      G02                                     492000              2665                                 360                            359                               6.125
       16592950      G02                                     212000           1037.92                                 360                            360                                 5.5
       16592951      G02                                     318600           1692.56                                 360                            360                                   6
       16232930      G03                                     880000           3941.67                                 360                            342                                   5
       16232931      G02                                     147920            677.97                                 360                            347                               5.125
       16232933      G02                                     527000           2415.42                                 360                            353                               5.125
       16232934      G04                                  497232.72           2996.25                                 360                            355                               5.625
       16232935      G01                                  499999.98           2708.33                                 360                            355                               6.125
       16232936      G04                                     320000           1666.67                                 360                            356                               5.875
       16232937      G02                                  947838.75           4837.93                                 360                            356                                5.75
       16242606      G01                                     650000           3791.67                                 360                            354                                6.75
       16242617      G01                                     639200           3129.42                                 360                            353                               5.625
       16242618      G01                                     424995           2169.25                                 360                            353                               5.875
       16242620      G01                                  644536.68           3289.82                                 360                            356                               5.875
       16242621      G02                                   574192.4           3605.96                                 360                            353                               6.125
       16242623      G02                                     633750           3168.75                                 360                            353                                5.75
       16242625      G02                                     713300           3938.02                                 360                            353                               6.375
       16242626      G02                                  593768.64            3694.3                                 360                            354                                   6
       16242627      G01                                  534805.01           2674.03                                 360                            354                                5.75
       16242629      G02                                     455000            2322.4                                 360                            356                               5.875
       16242630      G03                                     600000            2812.5                                 360                            353                               5.375
       16242634      G02                                     682880            3841.2                                 360                            353                                 6.5
       16242635      G02                                     604000           3271.67                                 360                            355                                6.25
       16242636      G02                                     456000            2707.5                                 360                            356                               6.875
       16242637      G02                                     665000           3394.28                                 360                            355                               5.875
       16242638      G01                                  827646.03           4138.23                                 360                            354                                5.75
       16242639      G03                                     540000              2925                                 360                            353                                6.25
       16242641      G03                                     575290           3176.09                                 360                            354                               6.375
       16242642      G02                                     620720           3362.24                                 360                            355                                6.25
       16242643      G01                                  499532.64           2809.87                                 360                            354                                 6.5
       16242644      G01                                     452000           2401.25                                 360                            356                               6.125
       16242645      G02                                  821590.33           5079.66                                 360                            356                                   6
       16242646      G03                                     475000           2473.96                                 360                            354                                   6
       16242647      G01                                     712000            3337.5                                 360                            354                               5.375
       16242648      G02                                     557624           3136.64                                 360                            355                                 6.5
       16242649      G01                                  471594.02           2811.84                                 360                            353                                 5.5
       16242650      G01                                     703800           3738.94                                 360                            354                               6.125
       16242653      G01                                  416332.64           2446.92                                 360                            355                                 5.5
       16242545      G02                                  429476.67           2057.91                                 360                            354                                 5.5
       16242547      G02                                     534500           2839.53                                 360                            354                               6.125
       16242548      G01                                  471826.75           2260.84                                 360                            354                                 5.5
       16242549      G03                                     459900           2155.78                                 360                            354                               5.375
       16242550      G01                                  506690.08           2935.85                                 360                            354                               5.375
       16242552      G01                                     444000            2312.5                                 360                            355                                   6
       16242554      G03                                  643985.83           3085.77                                 360                            356                                 5.5
       16242555      G01                                  647642.83           4215.24                                 360                            356                                 6.5
       16242556      G01                                  480246.47           2861.56                                 360                            353                               5.625
       16242557      G02                                     637500           3121.09                                 360                            354                               5.625
       16242558      G03                                  602642.69           3587.09                                 360                            354                               5.625
       16242559      G02                                  480440.92           2302.11                                 360                            355                                 5.5
       16242560      G02                                  601633.75           3669.97                                 360                            356                               5.875
       16242561      G02                                  435005.52           2583.84                                 360                            356                               5.625
       16242562      G02                                     539600           2641.79                                 360                            356                               5.625
       16242564      G01                                  471734.54           2653.51                                 360                            352                                 6.5
       16242569      G01                                  570899.55           2973.43                                 360                            354                                   6
       16242570      G02                                     549500           2404.06                                 360                            354                                   5
       16242571      G03                                  499983.39           2656.16                                 360                            354                               6.125
       16242572      G01                                     648750           3311.33                                 360                            355                               5.875
       16242574      G01                                     499999           2760.41                                 360                            355                               6.375
       16242575      G02                                  637875.06           3122.93                                 360                            356                               5.625
       16242576      G01                                  435050.87           2798.15                                 360                            355                               6.375
       16242578      G01                                   472829.6           3002.32                                 360                            355                                6.25
       16242579      G01                                  449950.61           3064.49                                 260                            255                                 5.5
       16242583      G01                                     649990           3859.32                                 360                            355                               6.875
       16242584      G01                                     600000            3437.5                                 360                            355                               6.625
       16242585      G03                                     500000           2708.33                                 360                            353                                6.25
       16242586      G01                                     456000            2327.5                                 360                            353                               5.875
       16242587      G01                                     463000           2411.46                                 360                            353                                   6
       16242588      G03                                     671250           3566.02                                 360                            356                               6.125
       16242589      G03                                     531000           2820.94                                 360                            354                               6.125
       16242590      G01                                     556841           3132.23                                 360                            355                                 6.5
       16242591      G02                                     554000           3000.84                                 360                            353                                6.25
       16242592      G01                                  576269.55           3665.99                                 360                            353                                6.25
       16242593      G03                                  679815.83           3682.34                                 360                            354                                6.25
       16242595      G02                                  463857.47           2850.79                                 360                            354                               7.125
       16242596      G04                                     548000           3025.42                                 360                            356                               6.375
       16242597      G03                                  508210.16           3233.02                                 360                            353                                6.25
       16242599      G03                                     556000           2895.84                                 360                            354                                   6
       16242600      G01                                    1000000            5312.5                                 360                            356                               6.125
       16242603      G02                                     756000           4646.25                                 360                            356                               7.125
       16242604      G02                                     513750           2836.33                                 360                            356                               6.375
       16242605      G02                                     650000           3114.59                                 360                            355                                 5.5
       16242607      G02                                     600000            3062.5                                 360                            353                               5.875
       16242608      G01                                     832000           4073.34                                 360                            353                               5.625
       16242609      G02                                     532000              2660                                 360                            356                                5.75
       16242610      G02                                     464000           2271.67                                 360                            353                               5.625
       16242613      G01                                   469877.6           2447.28                                 360                            355                                   6
       16242614      G02                                     476000           2578.34                                 360                            353                                6.25
       16242616      G02                                  540337.07           3169.96                                 360                            355                                 5.5
       16242540      G01                                     450000              2250                                 360                            353                                5.75
       16242541      G01                                  446944.29           2234.72                                 360                            353                                5.75
       16242542      G02                                  574724.51           2753.89                                 360                            353                                 5.5
       16242543      G01                                  996012.18           4876.31                                 360                            353                               5.625

       LOAN_SEQ            LPMI         MSERV           SERV_FEE     CURRENT_GROSS_COUPON                    CITY1                                          STATE             ZIP_CODE     PROPTYPE
       16244517               0             0              0.375                                     5.5     MIAMI                                          FL                   33125     Single Family
       16244519               0             0              0.375                                    6.75     DENVER                                         CO                   80218     Condominium
       16244520               0             0              0.375                                    6.75     BURBANK                                        CA                   91501     Single Family
       16244521               0             0              0.375                                    6.25     GENEVA                                         IL                   60134     Single Family
       16244522               0             0              0.375                                    6.75     WILLIAMSPORT                                   MD                   21795     Single Family
       16244525               0             0              0.375                                   7.125     SARASOTA                                       FL                   34237     Condominium
       16244526               0             0              0.375                                   6.375     TAMPA                                          FL                   33612     Condominium
       16244527               0             0              0.375                                       7     SARATOGA SPRINGS                               UT                   84043     Single Family
       16244528               0             0              0.375                                    6.75     WEST COVINA                                    CA                   91790     Single Family
       16244529               0             0              0.375                                   7.125     BROOKLYN                                       NY                   11211     2-4 Family
       16244530               0             0              0.375                                   6.375     TAMPA                                          FL                   33612     Condominium
       16244531               0             0              0.375                                       7     NEW PORT RICHEY                                FL                   34653     Condominium
       16244532               0             0              0.375                                       6     FREDERICK                                      MD                   21704     PUD
       16244533               0             0              0.375                                    6.75     BROOMFIELD                                     CO                   80020     Single Family
       16244534               0             0              0.375                                   6.875     MIAMI                                          FL                   33125     2-4 Family
       16244535               0             0              0.375                                   4.875     CENTREVILLE                                    VA                   20120     Single Family
       16244536               0             0              0.375                                   5.625     ARCADIA                                        CA                   91006     2-4 Family
       16244537               0             0              0.375                                   5.875     DILLARD                                        GA                   30537     Single Family
       16244538               0             0              0.375                                   5.625     FRESNO                                         CA                   93727     Single Family
       16244540               0             0              0.375                                       6     MERCED                                         CA                   95348     Single Family
       16244541               0             0              0.375                                   6.375     IMPERIAL                                       CA                   92251     Single Family
       16244542               0             0              0.375                                   8.375     ELGIN                                          SC                   29045     Single Family
       16244543               0             0              0.375                                   8.375     LONG BEACH                                     CA                   90813     2-4 Family
       16244544               0             0              0.375                                     6.5     QUEEN CREEK                                    AZ                   85242     Single Family
       16369989               0             0               0.25                                   6.625     ELK GROVE                                      CA                   95624     Single Family
       16369992               0             0               0.25                                   6.625     NORWELL                                        MA                    2061     Single Family
       16369996               0             0               0.25                                    6.25     GLENDALE                                       CA                   91208     Single Family
       16370000               0             0               0.25                                   7.625     NAPLES                                         FL                   34109     Single Family
       16370011               0             0               0.25                                     6.5     LAKE FOREST                                    CA                   92610     PUD
       16370030               0             0               0.25                                   6.125     WESTPORT                                       CT                    6880     Single Family
       16370032               0             0               0.25                                     6.5     CAMARILLO                                      CA                   93010     Single Family
       16370050               0             0               0.25                                     6.5     HAYMARKET                                      VA                   20169     PUD
       16370060               0             0               0.25                                   6.375     REDONDO BEACH                                  CA                   90278     Condominium
       16370067               0             0               0.25                                   6.375     SANTA BARBARA                                  CA                   93105     Single Family
       16370070               0             0               0.25                                       6     ATLANTA                                        GA                   30342     Single Family
       16370075               0             0               0.25                                   7.125     LOS ANGELES                                    CA                   90043     Single Family
       16370086               0             0               0.25                                    6.75     SAN DIEGO                                      CA                   92129     Single Family
       16370128               0             0               0.25                                   6.625     ROYAL PALM BEACH                               FL                   33411     PUD
       16370161               0             0               0.25                                       6     UNION CITY                                     CA                   94587     Single Family
       16370166               0             0               0.25                                   6.625     REDDING                                        CT                    6896     Single Family
       16370177               0             0               0.25                                    6.75     AUSTIN                                         TX                   78703     Single Family
       16370183               0             0               0.25                                    6.75     SEATTLE                                        WA                   98136     PUD
       16370189               0             0               0.25                                   6.625     CLERMONT                                       FL                   34711     PUD
       16370190               0             0               0.25                                    6.75     SAN JOSE                                       CA                   95118     Single Family
       16369912               0             0               0.25                                   6.375     SUNNYVALE                                      CA                   94086     Single Family
       16369921               0             0               0.25                                       6     AMERICAN CANYON                                CA                   95403     Single Family
       16369923               0             0               0.25                                    6.75     NORTH WILDWOOD CITY                            NJ                    8260     Condominium
       16369960               0             0               0.25                                   6.375     BELTSVILLE                                     MD                   20705     PUD
       16369967               0             0               0.25                                    6.75     VENTURA                                        CA                   93001     Condominium
       16369969               0             0               0.25                                   6.125     IRVINE                                         CA                   92618     PUD
       16369972               0             0               0.25                                    6.75     HOLMDEL                                        NJ                    7733     Single Family
       16369753               0             0               0.25                                    6.25     CORAL GABLES                                   FL                   33146     Single Family
       16369781               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90066     Single Family
       16369788               0             0               0.25                                     6.5     NEW MARKET                                     MD                   21774     Single Family
       16369797               0             0               0.25                                    6.75     METHUEN                                        MA                    1844     Single Family
       16369801               0             0               0.25                                     6.5     VISTA                                          CA                   92084     Single Family
       16369802               0             0               0.25                                     6.5     OCEANSIDE                                      CA                   92054     PUD
       16369830               0             0               0.25                                   6.625     SACRAMENTO                                     CA                   95864     Single Family
       16369874               0             0               0.25                                     6.5     INGLEWOOD                                      CA                   90305     PUD
       16369899               0             0               0.25                                     6.5     REDMOND                                        WA                   98074     Single Family
       16369911               0             0               0.25                                     6.5     SAN FRANCISCO                                  CA                   94110     Condominium
       16369733               0             0               0.25                                    6.75     TRUCKEE                                        CA                   96161     PUD
       16369544               0             0               0.25                                   6.625     ANAHEIM                                        CA                   92807     Single Family
       16369549               0             0               0.25                                   6.375     SAN DIEGO                                      CA                   92037     Single Family
       16369551               0             0               0.25                                     6.5     CHULA VISTA                                    CA                   91910     Single Family
       16369561               0             0               0.25                                   6.625     SCOTTSDALE                                     AZ                   85255     PUD
       16369570               0             0               0.25                                    6.25     JUPITER                                        FL                   33478     Single Family
       16369573               0             0               0.25                                    6.75     SANTA ROSA BEACH                               FL                   32459     PUD
       16369580               0             0               0.25                                   6.875     RAMONA                                         CA                   92065     Single Family
       16369585               0             0               0.25                                   6.875     SANTA CRUZ                                     CA                   95060     Single Family
       16369587               0             0               0.25                                     6.5     KIRKLAND                                       WA                   98033     Single Family
       16369604               0             0               0.25                                    6.75     MOORESTOWN                                     NJ                    8057     Single Family
       16369606               0             0               0.25                                    6.25     COTATI                                         CA                   94931     Single Family
       16369609               0             0               0.25                                   6.625     SANTA CLARITA                                  CA                   91355     PUD
       16369616               0             0               0.25                                   6.125     LA MESA                                        CA                   91941     Single Family
       16369626               0             0               0.25                                     6.5     FOOTHILL RANCH                                 CA                   92610     PUD
       16369648               0             0               0.25                                    6.75     AUBURN                                         CA                   95602     Single Family
       16369652               0             0               0.25                                   6.875     SAN CARLOS                                     CA                   94070     Single Family
       16369654               0             0               0.25                                   7.375     VAIL                                           AZ                   85641     PUD
       16369667               0             0               0.25                                   6.875     CHULA VISTA                                    CA                   91913     PUD
       16369674               0             0               0.25                                   6.625     SAN JOSE                                       CA                   95125     PUD
       16369690               0             0               0.25                                   6.875     VACAVILLE                                      CA                   95687     Single Family
       16369691               0             0               0.25                                     6.5     HERNDON                                        VA                   20171     Single Family
       16369700               0             0               0.25                                   6.375     LOS ANGELES                                    CA                   90019     2-4 Family
       16369703               0             0               0.25                                   6.625     NORTH HILLS                                    CA                   91343     Single Family
       16369721               0             0               0.25                                   6.375     BETHESDA                                       MD                   20817     Single Family
       16368713               0             0               0.25                                    5.75     POTOMAC                                        MD                   20854     PUD
       16368715               0             0               0.25                                    6.25     PROSPER                                        TX                   75078     PUD
       16368716               0             0               0.25                                     6.5     TORRANCE                                       CA                   90501     Condominium
       16368719               0             0               0.25                                   5.875     SAN JOSE                                       CA                   95120     Single Family
       16368720               0             0               0.25                                   6.375     CARLSBAD                                       CA                   92010     Condominium
       16368780               0             0               0.25                                    6.25     TEMECULA                                       CA                   92592     Single Family
       16368778               0             0               0.25                                   6.625     MENDHAM                                        NJ                    7945     Single Family
       16370215               0             0               0.25                                    6.75     WALNUT                                         CA                   91789     Single Family
       16370246               0             0               0.25                                   6.375     PONTE VERDA BEACH                              FL                   32082     PUD
       16370251               0             0               0.25                                     6.5     SUN VALLEY                                     ID                   83353     PUD
       16370263               0             0               0.25                                    6.25     BUENA PARK                                     CA                   90620     Single Family
       16370286               0             0               0.25                                     6.5     CORONA                                         CA                   92883     PUD
       16370288               0             0               0.25                                   6.625     SANTA ROSA                                     CA                   95405     PUD
       16369520               0             0               0.25                                    6.25     ORLANDO                                        FL                   32804     Single Family
       16369010               0             0               0.25                                     6.5     WEST SACRAMENTO                                CA                   95691     Single Family
       16369050               0             0               0.25                                    6.75     CHULA VISTA                                    CA                   91915     PUD
       16369055               0             0               0.25                                       7     PASADENA                                       CA                   91104     Single Family
       16369056               0             0               0.25                                    6.75     MANHASSET                                      NY                   11030     Single Family
       16369070               0             0               0.25                                   6.625     MENLO PARK                                     CA                   94025     Condominium
       16369074               0             0               0.25                                   6.375     MURRIETA                                       CA                   92562     Single Family
       16369088               0             0               0.25                                    6.75     FORT WAYNE                                     IN                   46835     Single Family
       16369099               0             0               0.25                                    6.75     VIRGINIA BEACH                                 VA                   23451     Single Family
       16369157               0             0               0.25                                     6.5     ORANGE                                         CA                   92867     Single Family
       16369164               0             0               0.25                                       7     SAN RAMON                                      CA                   94583     Single Family
       16369189               0             0               0.25                                   6.625     ENCINO                                         CA                   91436     Single Family
       16369209               0             0               0.25                                   6.625     LA QUINTA                                      CA                   92253     PUD
       16369217               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90069     Single Family
       16369225               0             0               0.25                                   6.375     JOHNS ISLAND                                   SC                   29455     PUD
       16369226               0             0               0.25                                    6.75     SOLVANG                                        CA                   93463     Single Family
       16369229               0             0               0.25                                     6.5     MONTCLAIR TOWNSHIP                             NJ                    7043     Single Family
       16369247               0             0               0.25                                     6.5     LAGUNA BEACH                                   CA                   92677     Single Family
       16369257               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90077     Single Family
       16369267               0             0               0.25                                   7.125     HENDERSON                                      NV                   89044     PUD
       16369290               0             0               0.25                                   5.875     THOUSAND OAKS                                  CA                   91320     PUD
       16369300               0             0               0.25                                   6.625     PUNTA GORDA                                    FL                   33950     Single Family
       16369350               0             0               0.25                                   6.375     INGLEWOOD                                      CA                   90305     PUD
       16369358               0             0               0.25                                   6.625     BREA                                           CA                   92821     Single Family
       16369360               0             0               0.25                                    6.25     KIRKLAND                                       WA                   98033     Single Family
       16369364               0             0               0.25                                    5.75     CAMARILLO                                      CA                   93012     PUD
       16369370               0             0               0.25                                    6.25     CORAL GABLES                                   FL                   33133     Single Family
       16369391               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90026     Single Family
       16369393               0             0               0.25                                   6.125     BREA                                           CA                   92821     Single Family
       16369408               0             0               0.25                                   6.625     GREENWICH                                      CT                    6830     Single Family
       16369409               0             0               0.25                                     6.5     SAN MARCOS                                     CA                   92078     PUD
       16369423               0             0               0.25                                   6.625     MIAMI                                          FL                   33133     Single Family
       16369436               0             0               0.25                                    6.25     ROSEMARY BEACH                                 FL                   32461     Condominium
       16369442               0             0               0.25                                   6.625     SAN LUIS OBISPO                                CA                   93405     Single Family
       16369447               0             0               0.25                                     6.5     MISSION VIEJO                                  CA                   92691     PUD
       16369454               0             0               0.25                                    6.25     LIVERMORE                                      CA                   94551     Single Family
       16369455               0             0               0.25                                   6.375     NAPERVILLE                                     IL                   60564     PUD
       16369456               0             0               0.25                                       6     HIGHLAND                                       MD                   20777     Single Family
       16369468               0             0               0.25                                   6.125     OSPREY                                         FL                   34229     PUD
       16369470               0             0               0.25                                   6.875     MENIFEE                                        CA                   92584     Single Family
       16369471               0             0               0.25                                   6.375     DELRAY BEACH                                   FL                   33446     PUD
       16369487               0             0               0.25                                   6.375     DANIEL ISLAND                                  SC                   29492     PUD
       16369490               0             0               0.25                                    6.75     MURRIETA                                       CA                   92562     Single Family
       16369501               0             0               0.25                                    6.75     BASALT                                         CO                   81621     Single Family
       16369512               0             0               0.25                                     6.5     TARZANA                                        CA                   91356     Single Family
       16368798               0             0               0.25                                    6.75     ARLINGTON                                      VA                   22207     Single Family
       16368817               0             0               0.25                                     6.5     HAPPY VALLEY                                   OR                   97266     PUD
       16368827               0             0               0.25                                   6.625     CARBONDALE                                     CO                   81623     PUD
       16368829               0             0               0.25                                   6.875     LADERA RANCH AREA                              CA                   92694     PUD
       16368849               0             0               0.25                                    6.75     CHICAGO                                        IL                   60622     Single Family
       16368861               0             0               0.25                                   6.875     EDWARDS                                        CO                   81632     PUD
       16368863               0             0               0.25                                   6.625     SARASOTA                                       FL                   34241     PUD
       16368866               0             0               0.25                                   5.875     CARLSBAD                                       CA                   92009     PUD
       16368870               0             0               0.25                                   5.125     FALLBROOK                                      CA                   92028     Single Family
       16368874               0             0               0.25                                   5.875     HENDERSON                                      NV                   89044     PUD
       16368882               0             0               0.25                                   6.125     FALLBROOK                                      CA                   92028     Single Family
       16368888               0             0               0.25                                    6.25     COLTON                                         CA                   92324     Single Family
       16368902               0             0               0.25                                   6.625     CAVE CREEK                                     AZ                   85331     Single Family
       16368910               0             0               0.25                                    6.75     PALMDALE                                       CA                   93551     Single Family
       16368912               0             0               0.25                                   6.625     IRVINE                                         CA                   92614     Single Family
       16368917               0             0               0.25                                   6.625     ARLINGTON                                      VA                   22207     Single Family
       16368930               0             0               0.25                                    6.75     DISCOVERY BAY                                  CA                   94514     PUD
       16368960               0             0               0.25                                   6.875     CANYON COUNTRY                                 CA                   91387     Single Family
       16368965               0             0               0.25                                    6.75     ATASCADERO                                     CA                   93422     Single Family
       16368971               0             0               0.25                                    6.75     COLORADO SPRINGS                               CO                   80908     Single Family
       16368978               0             0               0.25                                   6.875     NEWARK                                         CA                   94560     Single Family
       16368985               0             0               0.25                                    6.75     FAIRFAX                                        VA                   22030     PUD
       16368995               0             0               0.25                                    6.25     CHATSWORTH AREA LOS ANGEL                      CA                   91311     Single Family
       16573265               0             0               0.25                                     6.5     CARBONDALE                                     CO                   81623     PUD
       16573266               0             0               0.25                                   6.875     WILSON                                         WY                   83014     PUD
       16573267               0             0               0.25                                       6     CHULA VISTA                                    CA                   91914     PUD
       16573269               0             0               0.25                                     6.5     BRECKSVILLE                                    OH                   44141     Single Family
       16573270               0             0               0.25                                   6.875     KETCHUM                                        ID                   83340     Single Family
       16573271               0             0               0.25                                       6     BOZEMAN                                        MT                   59718     Single Family
       16573272               0             0               0.25                                     7.5     PASADENA                                       CA                   91105     Single Family
       16573274               0             0               0.25                                       6     LAKE BLUFF                                     IL                   60044     Single Family
       16573275               0             0               0.25                                       7     BUFFALO                                        MN                   55313     Single Family
       16573276               0             0               0.25                                   5.875     ELK GROVE                                      CA                   95624     Single Family
       16573277               0             0               0.25                                   6.625     FRISCO                                         TX                   75034     PUD
       16573278               0             0               0.25                                   5.875     OLD BRIDGE                                     NJ                    8857     PUD
       16573279               0             0               0.25                                     7.5     MILLSBORO                                      DE                   19966     Condominium
       16573280               0             0               0.25                                   6.625     GLENVIEW                                       IL                   60025     Single Family
       16573281               0             0               0.25                                   5.625     OCEAN ISLE BEACH                               NC                   28469     Single Family
       16573282               0             0               0.25                                    7.75     MIAMI                                          FL                   33157     PUD
       16573283               0             0               0.25                                   5.875     LOS ANGELES                                    CA                   90028     Single Family
       16573284               0             0               0.25                                   6.375     NORTH BEND                                     WA                   98045     Single Family
       16573285               0             0               0.25                                    6.25     FULLERTON                                      CA                   92835     Single Family
       16573286               0             0               0.25                                   6.875     ALAMEDA                                        CA                   94502     Single Family
       16573287               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90024     Condominium
       16573288               0             0               0.25                                    6.75     IRVINE                                         CA                   92612     Condominium
       16573289               0             0               0.25                                    4.75     CASTLE ROCK                                    CO                   80108     PUD
       16598123               0             0               0.25                                   5.625     DULLES                                         VA                   20166     PUD
       16598124               0             0               0.25                                    6.25     LITTLE ROCK                                    AR                   72211     PUD
       16598125               0             0               0.25                                   6.875     HERNDON                                        VA                   20170     PUD
       16598127               0             0               0.25                                    6.25     HILTON HEAD ISLAND                             SC                   29928     PUD
       16598128               0             0               0.25                                    6.75     EGG HARBOR TOWNSHIP                            NJ                    8234     Single Family
       16598129               0             0               0.25                                   5.875     TRACY                                          CA                   95377     Single Family
       16573219               0             0               0.25                                   6.875     RAMSEY                                         MN                   55303     Single Family
       16573220               0             0               0.25                                     6.5     EATONTON                                       GA                   31024     Single Family
       16573221               0             0               0.25                                    6.75     LOS ANGELES AREA OF SUNLA                      CA                   91040     Single Family
       16573222               0             0               0.25                                     6.5     SIMI VALLEY                                    CA                   93063     PUD
       16573223               0             0               0.25                                   6.875     RIVERSIDE AREA                                 CA                   92504     PUD
       16573224               0             0               0.25                                     6.5     ANAHEIM                                        CA                   92801     PUD
       16573225               0             0               0.25                                     6.5     ASPEN                                          CO                   81611     Single Family
       16573226               0             0               0.25                                    6.75     CHATHAM                                        MA                    2633     Single Family
       16573227               0             0               0.25                                       6     OAKLAND                                        CA                   94618     Single Family
       16573228               0             0               0.25                                   6.375     HERMOSA BEACH                                  CA                   90254     Single Family
       16573229               0             0               0.25                                    6.25     HOBOKEN                                        NJ                    7030     Condominium
       16573230               0             0               0.25                                       6     SAN JOSE                                       CA                   95135     Condominium
       16573231               0             0               0.25                                   6.875     NEW HYDE PARK                                  NY                   11040     Single Family
       16573232               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   90068     Condominium
       16573233               0             0               0.25                                     6.5     SUNNYVALE                                      CA                   94085     Single Family
       16573234               0             0               0.25                                   6.875     AMESBURY                                       MA                    1913     Condominium
       16573235               0             0               0.25                                   6.625     LAS VEGAS                                      NV                   89138     PUD
       16573236               0             0               0.25                                   6.875     EVERGREEN                                      CO                   80439     Single Family
       16573237               0             0               0.25                                   6.875     NORTHRIDGE                                     CA                   91325     Single Family
       16573238               0             0               0.25                                   6.625     NOVATO                                         CA                   94945     Single Family
       16573239               0             0               0.25                                    6.25     WELLESLEY                                      MA                    2482     Single Family
       16573240               0             0               0.25                                   7.125     HERCULES                                       CA                   94547     Single Family
       16573241               0             0               0.25                                     6.5     SANTA CLARA                                    CA                   95051     Single Family
       16573242               0             0               0.25                                   6.625     LAGUNA NIGUEL                                  CA                   92677     PUD
       16558646               0             0               0.25                                   6.625     LOS ANGELES                                    CA                   90032     Single Family
       16558647               0             0               0.25                                   6.875     NORWALK                                        CT                    6850     Single Family
       16558648               0             0               0.25                                    6.75     SAN DIEGO                                      CA                   92101     Condominium
       16558649               0             0               0.25                                   6.875     SEAL BEACH                                     CA                   90740     Single Family
       16558650               0             0               0.25                                   6.625     VALLEJO                                        CA                   94591     Single Family
       16558652               0             0               0.25                                   6.875     BRASELTON                                      GA                   30517     PUD
       16558653               0             0               0.25                                   6.375     BAINBRIDGE ISLAND                              WA                   98110     Single Family
       16558598               0             0               0.25                                    6.75     PHILADELPHIA                                   PA                   19146     Condominium
       16558599               0             0               0.25                                       6     VIRGINIA BEACH                                 VA                   23451     Single Family
       16558600               0             0               0.25                                       7     CHICAGO                                        IL                   60607     PUD
       16558601               0             0               0.25                                    6.25     HENDERSON                                      NV                   89044     Single Family
       16558602               0             0               0.25                                    6.75     RIPON                                          CA                   95366     Single Family
       16558603               0             0               0.25                                     6.5     ALPHARETTA                                     GA                   30004     Single Family
       16558604               0             0               0.25                                    6.25     LAKE FOREST                                    IL                   60045     PUD
       16558605               0             0               0.25                                       7     FAYETTEVILLE                                   GA                   30215     PUD
       16558606               0             0               0.25                                     6.5     LANSDOWNE                                      VA                   20176     PUD
       16558607               0             0               0.25                                     6.5     SANTA CRUZ                                     CA                   95062     Single Family
       16558608               0             0               0.25                                   7.375     ENCINITAS                                      CA                   92024     2-4 Family
       16558609               0             0               0.25                                    6.75     ORANGE PARK                                    FL                   32003     PUD
       16558610               0             0               0.25                                   6.875     MONTEREY PARK                                  CA                   91755     Single Family
       16558611               0             0               0.25                                     6.5     MAMMOTH LAKES                                  CA                   93546     Condominium
       16558612               0             0               0.25                                   6.375     HENDERSON                                      NV                   89015     PUD
       16558613               0             0               0.25                                   6.875     BLAINE COUNTY                                  ID                   83313     PUD
       16558614               0             0               0.25                                     6.5     MANALAPAN                                      NJ                    7726     Single Family
       16558615               0             0               0.25                                   6.125     NEW YORK                                       NY                   10036     Condominium
       16558616               0             0               0.25                                   6.375     GREENWICH                                      CT                    6831     Single Family
       16558617               0             0               0.25                                   6.375     HEAD OF THE HARBOR                             NY                   11780     Single Family
       16558618               0             0               0.25                                    6.75     CHARLEVOIX                                     MI                   49720     Single Family
       16558619               0             0               0.25                                   6.375     BASKING RIDGE                                  NJ                    7920     Single Family
       16558620               0             0               0.25                                   6.625     COTO DE CAZA                                   CA                   92629     PUD
       16558621               0             0               0.25                                    6.75     SAN DIMAS                                      CA                   91773     Single Family
       16558622               0             0               0.25                                    6.75     GREENSBORO                                     NC                   27410     Single Family
       16558623               0             0               0.25                                   6.875     FONTANA                                        CA                   92336     Single Family
       16558624               0             0               0.25                                   6.875     SANTA BARBARA                                  CA                   93105     Single Family
       16558625               0             0               0.25                                     6.5     BURKE                                          VA                   22015     PUD
       16558626               0             0               0.25                                   6.375     BAINBRIDGE ISLAND                              WA                   98110     Single Family
       16558627               0             0               0.25                                     5.5     LOS ANGELES                                    CA                   90025     Single Family
       16558628               0             0               0.25                                   6.375     DEMAREST                                       NJ                    7627     Single Family
       16558629               0             0               0.25                                   6.375     DALLAS                                         TX                   75205     Single Family
       16558630               0             0               0.25                                     6.5     STAMFORD                                       CT                    6902     Single Family
       16558631               0             0               0.25                                     6.5     LAGUNA NIGUEL                                  CA                   92677     PUD
       16558632               0             0               0.25                                       7     SAN FRANCISCO                                  CA                   94108     Single Family
       16558633               0             0               0.25                                   6.375     PARKER                                         CO                   80138     PUD
       16558634               0             0               0.25                                   6.625     BROOMFIELD                                     CO                   80020     PUD
       16558635               0             0               0.25                                    6.75     LOS ANGELES                                    CA                   90064     Condominium
       16558636               0             0               0.25                                    6.25     GRANADA HILLS                                  CA                   91344     Condominium
       16558637               0             0               0.25                                       7     SAN JOSE                                       CA                   95123     Single Family
       16558638               0             0               0.25                                   6.375     KENSINGTON                                     MD                   20895     Single Family
       16558639               0             0               0.25                                   6.875     MISSION VIEJO                                  CA                   92692     PUD
       16558640               0             0               0.25                                   6.375     CANOGA PARK                                    CA                   91304     Single Family
       16558641               0             0               0.25                                   6.625     SAN JOSE                                       CA                   95127     Single Family
       16558642               0             0               0.25                                     6.5     MARTINEZ                                       CA                   94553     Single Family
       16558643               0             0               0.25                                   6.625     VISTA                                          CA                   92081     PUD
       16558644               0             0               0.25                                    6.75     LOS ANGELES                                    CA                   90049     Single Family
       16558645               0             0               0.25                                   6.375     ESCONDIDO                                      CA                   92027     Single Family
       16593653               0             0               0.25                                    6.75     AGOURA                                         CA                   91301     PUD
       16593654               0             0               0.25                                   7.125     SAN JOSE                                       CA                   95119     Single Family
       16593655               0             0               0.25                                   6.625     GOLETA                                         CA                   93117     Condominium
       16593656               0             0               0.25                                    6.75     PASADENA                                       CA                   91107     Single Family
       16593608               0             0               0.25                                     6.5     SAN DIEGO                                      CA                   92117     Single Family
       16593609               0             0               0.25                                    6.25     TUCSON                                         AZ                   85718     PUD
       16593610               0             0               0.25                                    6.75     TUSTIN                                         CA                   92782     PUD
       16593611               0             0               0.25                                   6.625     MOKENA                                         IL                   60448     PUD
       16593613               0             0               0.25                                    7.25     WEST SACRAMENTO                                CA                   95691     Single Family
       16593614               0             0               0.25                                   6.625     LA QUINTA                                      CA                   92253     PUD
       16593615               0             0               0.25                                       6     FONTANA                                        CA                   92336     PUD
       16593616               0             0               0.25                                   6.625     LAGUNA NIGUEL                                  CA                   92677     PUD
       16593618               0             0               0.25                                    6.75     ROCKLIN                                        CA                   95765     PUD
       16593619               0             0               0.25                                    6.75     MISSION VIEJO                                  CA                   92691     PUD
       16593620               0             0               0.25                                   6.625     SMITHFIELD                                     VA                   23430     PUD
       16593621               0             0               0.25                                   6.875     LIVERMORE                                      CA                   94551     Single Family
       16593622               0             0               0.25                                   6.875     SALINAS                                        CA                   93908     PUD
       16593623               0             0               0.25                                   6.625     PEACHTREE CITY                                 GA                   30269     PUD
       16593624               0             0               0.25                                   7.125     COSTA MESA                                     CA                   92627     Single Family
       16593625               0             0               0.25                                       7     TEMPLE CITY                                    CA                   91780     Single Family
       16593626               0             0               0.25                                   6.375     DARNESTOWN                                     MD                   20874     Single Family
       16593628               0             0               0.25                                   6.625     EAGLE                                          ID                   83616     Single Family
       16593629               0             0               0.25                                    6.75     FAIRFIELD                                      CT                    6824     Single Family
       16593630               0             0               0.25                                       7     FORT LAUDERDALE                                FL                   33305     Single Family
       16593631               0             0               0.25                                   6.625     YONKERS                                        NY                   10704     Single Family
       16593632               0             0               0.25                                   6.875     CAMARILLO                                      CA                   93010     Single Family
       16593633               0             0               0.25                                     6.5     ATLANTA                                        GA                   30319     Single Family
       16593634               0             0               0.25                                   6.375     BASKING RIDGE                                  NJ                    7920     Single Family
       16593635               0             0               0.25                                   6.625     COLLEYVILLE                                    TX                   75034     Single Family
       16593636               0             0               0.25                                    6.75     WINSTON SALEM                                  NC                   27104     Single Family
       16593637               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   90068     Single Family
       16593638               0             0               0.25                                   6.625     MURRIETA                                       CA                   92562     PUD
       16593639               0             0               0.25                                   6.375     WINDHAM                                        NH                    3087     Single Family
       16593640               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   91401     Single Family
       16593641               0             0               0.25                                    6.75     NEWPORT BEACH                                  CA                   92663     Single Family
       16593642               0             0               0.25                                   6.375     CARLSBAD                                       CA                   92011     Condominium
       16593643               0             0               0.25                                   6.875     DEWEY BEACH                                    DE                   19971     Condominium
       16593644               0             0               0.25                                   6.375     FILLMORE                                       CA                   93015     Single Family
       16593645               0             0               0.25                                    6.75     LOS ANGELES                                    CA                   90012     Condominium
       16593646               0             0               0.25                                   6.375     FULTON                                         MD                   20759     Single Family
       16593647               0             0               0.25                                     6.5     PLEASANT HILL                                  CA                   94523     Single Family
       16593648               0             0               0.25                                     6.5     LAGUNA BEACH                                   CA                   92651     Single Family
       16593650               0             0               0.25                                    6.25     CLAREMONT                                      CA                   91711     PUD
       16593651               0             0               0.25                                   6.875     FORT MYERS                                     FL                   33905     Single Family
       16593652               0             0               0.25                                   7.125     SAN DIEGO                                      CA                   92128     Condominium
       16573257               0             0               0.25                                    6.75     CHARLESTON                                     SC                   29492     PUD
       16573258               0             0               0.25                                    6.75     PORTOLA HILLS                                  CA                   92679     Single Family
       16573259               0             0               0.25                                   6.375     SAN MARCOS                                     CA                   92078     PUD
       16573260               0             0               0.25                                   6.625     DELRAY BEACH                                   FL                   33444     Single Family
       16573261               0             0               0.25                                   6.375     CARPINTERIA                                    CA                   93013     Single Family
       16573262               0             0               0.25                                   6.875     HOMESTEAD                                      FL                   33033     Single Family
       16573263               0             0               0.25                                   6.375     MILPITAS                                       CA                   91035     Single Family
       16573264               0             0               0.25                                   6.375     MANHATTAN BEACH                                CA                   90266     Single Family
       16573243               0             0               0.25                                     6.5     SAN FRANCISCO                                  CA                   94123     Single Family
       16573244               0             0               0.25                                   6.625     WILMETTE                                       IL                   60091     Single Family
       16573245               0             0               0.25                                   5.875     NEW HOPE                                       PA                   18938     PUD
       16573246               0             0               0.25                                   6.875     HIGHLANDS RANCH                                CO                   80130     PUD
       16573247               0             0               0.25                                    6.75     SIMI VALLEY                                    CA                   93065     Single Family
       16573248               0             0               0.25                                    6.75     SIMI VALLEY                                    CA                   93065     PUD
       16573249               0             0               0.25                                   6.875     UNIVERSITY PARK                                TX                   75205     Single Family
       16573250               0             0               0.25                                   6.375     SAN JOSE                                       CA                   95120     Single Family
       16573252               0             0               0.25                                   6.875     DES MOINES                                     WA                   98198     Single Family
       16573253               0             0               0.25                                   6.875     SAN JOSE                                       CA                   95120     Single Family
       16573254               0             0               0.25                                   6.375     SAN FRANCISCO                                  CA                   94122     Single Family
       16573255               0             0               0.25                                    6.75     BERRYVILLE                                     VA                   22611     Single Family
       16573256               0             0               0.25                                    6.75     HOMEWOOD                                       CA                   96141     Single Family
       16564115               0             0               0.25                                   6.875     DANVILLE                                       CA                   94526     PUD
       16564116               0             0               0.25                                    6.75     SAN FRANCISCO                                  CA                   94115     2-4 Family
       16564117               0             0               0.25                                   6.875     GLENDALE                                       CA                   91202     Single Family
       16564118               0             0               0.25                                   6.875     CAVE CREEK                                     AZ                   85331     Single Family
       16564119               0             0               0.25                                   6.875     RIVERSIDE                                      CA                   92508     Single Family
       16564120               0             0               0.25                                     6.5     OXNARD                                         CA                   93036     PUD
       16564121               0             0               0.25                                   6.625     CAMARILLO                                      CA                   93012     PUD
       16564122               0             0               0.25                                   6.875     APTOS                                          CA                   95003     Single Family
       16564123               0             0               0.25                                   6.875     MCDONOUGH                                      GA                   30253     PUD
       16564124               0             0               0.25                                       7     YORBA LINDA                                    CA                   92886     Single Family
       16564125            0.48             0               0.25                                   6.875     PITTSBURGH                                     PA                   15216     Single Family
       16564081               0             0               0.25                                     6.5     WALNUT CREEK                                   CA                   94598     Single Family
       16564082               0             0               0.25                                   6.875     ESCONDIDO                                      CA                   92025     Single Family
       16564083               0             0               0.25                                       6     CHULA VISTA                                    CA                   91915     Condominium
       16564084               0             0               0.25                                   6.125     THOUSAND OAKS                                  CA                   91362     PUD
       16564063               0             0               0.25                                   6.875     FULLERTON                                      CA                   92833     Condominium
       16564064               0             0               0.25                                    6.75     STAMFORD                                       CT                    6907     Single Family
       16564065               0             0               0.25                                    6.75     PALM SPRINGS                                   CA                   92262     Condominium
       16564066               0             0               0.25                                    6.75     WEST HILLS                                     CA                   91307     Single Family
       16564067               0             0               0.25                                   6.625     SANTA FE                                       NM                   87501     Single Family
       16564068               0             0               0.25                                       7     VALENCIA                                       CA                   91354     PUD
       16564069               0             0               0.25                                   6.875     BONITA SPRINGS                                 FL                   34135     Condominium
       16564070               0             0               0.25                                   6.625     MORRISTOWN                                     NJ                    7960     Single Family
       16564071               0             0               0.25                                   6.625     COLTON                                         CA                   92324     Single Family
       16564072               0             0               0.25                                     6.5     RANCHO MIRAGE                                  CA                   92270     PUD
       16564073               0             0               0.25                                    6.25     MOORESVILLE                                    NC                   28117     PUD
       16564074               0             0               0.25                                     6.5     MARYSVILLE                                     WA                   98271     Single Family
       16564075               0             0               0.25                                    6.75     TOLUCA LAKE                                    CA                   91610     Condominium
       16564076               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90025     Condominium
       16564078               0             0               0.25                                   6.625     OAKLEY                                         CA                   94561     Single Family
       16564079               0             0               0.25                                    6.75     CORONA                                         CA                   92880     Single Family
       16564080               0             0               0.25                                     6.5     EAST MORICHES                                  NY                   11940     Single Family
       16564039               0             0               0.25                                    6.75     ST LOUIS                                       MO                   63105     Single Family
       16564040               0             0               0.25                                   6.125     WOODBRIDGE                                     VA                   22192     PUD
       16564041               0             0               0.25                                     6.5     MANASSAS                                       VA                   20112     PUD
       16564042               0             0               0.25                                   6.625     ARLINGTON                                      MA                    2476     Single Family
       16564043               0             0               0.25                                   6.375     TRIANGLE                                       VA                   22191     PUD
       16564044               0             0               0.25                                       7     PETALUMA                                       CA                   94952     Single Family
       16564045               0             0               0.25                                   6.875     FORT MYERS                                     FL                   33912     PUD
       16564046               0             0               0.25                                       6     INGLEWOOD                                      CA                   90305     PUD
       16564047               0             0               0.25                                    6.75     PALMDALE                                       CA                   93551     Single Family
       16564048               0             0               0.25                                   6.625     INDIO                                          CA                   92203     PUD
       16564049               0             0               0.25                                   6.875     SAN JOSE                                       CA                   95125     Condominium
       16564050               0             0               0.25                                   6.875     CHAPPAQUA                                      NY                   10514     Single Family
       16564051               0             0               0.25                                   5.875     SEVERNA PARK                                   MD                   21146     Single Family
       16564052               0             0               0.25                                    6.25     HOFFMAN ESTATES                                IL                   60192     Single Family
       16564053               0             0               0.25                                   6.625     ARROYO GRANDE                                  CA                   93420     Single Family
       16564054               0             0               0.25                                   6.625     CLOVIS                                         CA                   93619     Single Family
       16564055               0             0               0.25                                   6.375     KIRKLAND                                       WA                   98033     Single Family
       16564056               0             0               0.25                                   6.625     SCOTTSDALE                                     AZ                   85262     PUD
       16564057               0             0               0.25                                   6.625     NORFOLK                                        VA                   23502     Single Family
       16564058               0             0               0.25                                   6.625     ALAMEDA                                        CA                   94501     Single Family
       16564059               0             0               0.25                                     6.5     BERGENFIELD                                    NJ                    7621     Single Family
       16564060               0             0               0.25                                   6.625     LOS ANGELES SYLMAR AREA                        CA                   91342     Single Family
       16564061               0             0               0.25                                   6.875     HAWTHORN WOODS                                 IL                   60047     Single Family
       16564062               0             0               0.25                                    6.25     SEATTLE                                        WA                   98177     Single Family
       16564091               0             0               0.25                                   6.625     SEBASTOPOL                                     CA                   95472     Single Family
       16564092               0             0               0.25                                    6.25     CLOVIS                                         CA                   93611     Single Family
       16564093               0             0               0.25                                   6.875     HUNTINGTON BEACH                               CA                   92647     Single Family
       16564094               0             0               0.25                                       7     SAN LUIS OBISPO                                CA                   93405     Single Family
       16564095               0             0               0.25                                   6.375     WHITTIER                                       CA                   90605     Single Family
       16564096               0             0               0.25                                   6.625     SAN FRANCISCO                                  CA                   94105     Condominium
       16564097               0             0               0.25                                   6.625     CARLSBAD                                       CA                   92010     Single Family
       16564098               0             0               0.25                                   6.375     HOWELL                                         MI                   48843     Single Family
       16564099               0             0               0.25                                   6.125     SANTA BARBARA                                  CA                   93103     Single Family
       16564100               0             0               0.25                                   6.625     LOS ANGELES                                    CA                   90035     Single Family
       16564101               0             0               0.25                                    6.25     CAMARILLO                                      CA                   93010     Single Family
       16564102               0             0               0.25                                    6.75     DARNESTOWN                                     MD                   20878     Single Family
       16564103               0             0               0.25                                     6.5     SANTA ROSA                                     CA                   95404     Single Family
       16564104               0             0               0.25                                    6.75     NAPLES                                         FL                   34113     Single Family
       16564105               0             0               0.25                                   6.875     FLUSHING                                       NY                   11358     Single Family
       16564106               0             0               0.25                                       7     SEATTLE                                        WA                   98199     Single Family
       16564107               0             0               0.25                                   7.125     CHINO                                          CA                   91710     Single Family
       16564108               0             0               0.25                                   6.375     GLENDALE                                       CA                   91206     Single Family
       16564110               0             0               0.25                                   6.875     MONTEBELLO                                     CA                   90640     Single Family
       16564111               0             0               0.25                                   6.625     CAPITOLA                                       CA                   95062     Single Family
       16564112               0             0               0.25                                   6.875     PUNTA GORDA                                    FL                   33982     PUD
       16564113               0             0               0.25                                   6.625     HOLLYWOOD                                      FL                   33021     Single Family
       16564114               0             0               0.25                                     6.5     THOUSAND OAKS                                  CA                   91320     PUD
       16564085               0             0               0.25                                   6.625     RAMSEY                                         NJ                    7446     Single Family
       16564086               0             0               0.25                                   6.375     ELIZABETH                                      CO                   80107     Single Family
       16564087               0             0               0.25                                     6.5     CHINO HILLS                                    CA                   91709     Single Family
       16564088               0             0               0.25                                   6.625     LOS ANGELES                                    CA                   90034     Single Family
       16564089               0             0               0.25                                     6.5     CARLSBAD                                       CA                   92008     Condominium
       16633710               0             0               0.25                                   6.875     BAKERSFIELD                                    CA                   93314     Single Family
       16647980               0             0               0.25                                    6.25     SEATTLE                                        WA                   98116     Single Family
       16647982               0             0               0.25                                       6     VIENNA                                         VA                   22180     Single Family
       16647983               0             0               0.25                                       6     PORTSMOUTH                                     NH                    3801     Condominium
       16647984               0             0               0.25                                   5.625     EAGAN                                          MN                   55122     Single Family
       16647985               0             0               0.25                                   6.375     FOSTER CITY                                    CA                   94404     Condominium
       16647986               0             0               0.25                                   6.625     SAN JOSE                                       CA                   95119     Single Family
       16647987               0             0               0.25                                     6.5     L.A./ SHERMAN OAKS                             CA                   91423     Single Family
       16647988               0             0               0.25                                   6.625     JUPITER                                        FL                   33478     Single Family
       16647989               0             0               0.25                                     6.5     SAN BRUNO                                      CA                   94066     Single Family
       16647990               0             0               0.25                                   6.875     PARADISE VALLEY                                AZ                   85253     PUD
       16647917               0             0               0.25                                       6     LOS ANGELES                                    CA                   90065     Single Family
       16647918               0             0               0.25                                   5.875     BAKERSFIELD                                    CA                   93312     PUD
       16647919            0.33             0               0.25                                   6.375     SAN RAMON                                      CA                   94583     PUD
       16647920               0             0               0.25                                   5.375     TORRANCE                                       CA                   90503     PUD
       16647921               0             0               0.25                                    5.75     LOS ANGELES                                    CA                   90049     Condominium
       16647922               0             0               0.25                                    6.25     CARLSBAD                                       CA                   92009     PUD
       16647923               0             0               0.25                                     6.5     CHANDLER                                       AZ                   85249     PUD
       16647924               0             0               0.25                                     6.5     HAWTHORNE                                      CA                   90250     Single Family
       16647925               0             0               0.25                                    6.25     SANTA ROSA                                     CA                   95404     Single Family
       16647926               0             0               0.25                                    6.25     SAN MARCOS                                     CA                   92069     Single Family
       16647927               0             0               0.25                                   6.375     LAS VEGAS                                      NV                   89139     Single Family
       16647928               0             0               0.25                                       6     UNION CITY                                     CA                   94587     Single Family
       16647929               0             0               0.25                                    5.75     LEMON GROVE                                    CA                   91945     Single Family
       16647930               0             0               0.25                                    6.75     NEW CASTLE                                     NH                    3854     PUD
       16647931               0             0               0.25                                   6.625     ALHAMBRA                                       CA                   91801     Single Family
       16647932               0             0               0.25                                   5.875     CAMARILLO                                      CA                   93010     Single Family
       16647933               0             0               0.25                                   6.625     CULVER CITY                                    CA                   90230     Condominium
       16647934               0             0               0.25                                     5.5     TRACY                                          CA                   95377     Single Family
       16647935               0             0               0.25                                    6.25     SAN JOSE                                       CA                   95128     Condominium
       16647936               0             0               0.25                                    6.25     LOS ALTOS                                      CA                   94024     Single Family
       16647937               0             0               0.25                                    6.25     WELLESLEY                                      MA                    2482     Single Family
       16647939               0             0               0.25                                   5.625     SHINGLE SPRINGS                                CA                   95682     Single Family
       16647940               0             0               0.25                                    6.25     SILVERDALE                                     WA                   98383     Single Family
       16647941               0             0               0.25                                    6.25     SAN DIEGO                                      CA                   92127     Condominium
       16647942               0             0               0.25                                    6.25     GLENDALE                                       CA                   91214     Single Family
       16647943               0             0               0.25                                    6.25     WELLINGTON                                     FL                   33414     PUD
       16647944               0             0               0.25                                   6.625     OCEAN CITY                                     MD                   21842     Condominium
       16647945               0             0               0.25                                       7     LINDON                                         UT                   84042     Single Family
       16647946               0             0               0.25                                    5.25     ESCONDIDO                                      CA                   92026     PUD
       16647947               0             0               0.25                                       6     WHITE LAKE                                     MI                   48386     Single Family
       16647948               0             0               0.25                                    6.25     DALY CITY                                      CA                   94015     Single Family
       16647949               0             0               0.25                                   6.125     SALINAS                                        CA                   93905     Single Family
       16647950               0             0               0.25                                     6.5     SAN RAMON                                      CA                   94582     PUD
       16647951               0             0               0.25                                     6.5     HALLANDALE BEACH                               FL                   33009     Condominium
       16647952               0             0               0.25                                     6.5     ORLANDO                                        FL                   32804     Single Family
       16647953               0             0               0.25                                   6.625     LOS ANGELES                                    CA                   91601     Single Family
       16647954               0             0               0.25                                    6.25     CENTREVILLE                                    VA                   20120     PUD
       16647955               0             0               0.25                                   6.375     PALO ALTO                                      CA                   94306     Single Family
       16647956               0             0               0.25                                    6.25     MOORPARK                                       CA                   93021     PUD
       16647957               0             0               0.25                                    6.25     MOORPARK                                       CA                   93021     Single Family
       16647958               0             0               0.25                                       6     INDIAN WELLS                                   CA                   92210     PUD
       16647959               0             0               0.25                                   6.375     MALIBU                                         CA                   90265     Condominium
       16647960               0             0               0.25                                       6     WATSONVILLE                                    CA                   95076     Single Family
       16647961               0             0               0.25                                     6.5     SAN RAMON                                      CA                   94582     PUD
       16647962               0             0               0.25                                     6.5     SAN JOSE                                       CA                   95121     Single Family
       16647963               0             0               0.25                                    6.25     ALAMEDA                                        CA                   94501     Single Family
       16647964               0             0               0.25                                    5.75     CERRITOS                                       CA                   90703     Single Family
       16647965               0             0               0.25                                   6.375     SAN DIEGO                                      CA                   92129     Single Family
       16647966               0             0               0.25                                   6.625     STUART                                         FL                   34997     PUD
       16647967               0             0               0.25                                    6.25     INGLEWOOD                                      CA                   90305     Single Family
       16647968               0             0               0.25                                   6.375     ANAHEIM                                        CA                   92804     Single Family
       16647969               0             0               0.25                                    5.25     BELLFLOWER                                     CA                   90706     Single Family
       16647970               0             0               0.25                                   5.625     ISSAQUAH                                       WA                   98027     PUD
       16647971               0             0               0.25                                   6.625     BEVERLY HILLS                                  CA                   90210     Condominium
       16647972               0             0               0.25                                    6.25     SAN CLEMENTE                                   CA                   92673     PUD
       16647973               0             0               0.25                                     5.5     OCEANSIDE                                      CA                   92054     Condominium
       16647974               0             0               0.25                                   4.875     ORANGE                                         CA                   92867     Single Family
       16647975            0.49             0               0.25                                   6.375     BOWIE                                          MD                   20720     Single Family
       16647976               0             0               0.25                                   5.375     LIBERTY TOWNSHIP                               OH                   45044     PUD
       16647977               0             0               0.25                                    6.25     HIGHLAND                                       UT                   84003     Single Family
       16647978               0             0               0.25                                    6.25     SAN MARCOS                                     CA                   92069     Single Family
       16647979               0             0               0.25                                   6.125     SAN LUIS OBISPO                                CA                   93401     Single Family
       16647900               0             0               0.25                                     6.5     CASTLE ROCK                                    CO                   80104     PUD
       16647901               0             0               0.25                                       6     SCOTTSDALE                                     AZ                   85259     PUD
       16647902               0             0               0.25                                     6.5     BOSTON                                         MA                    2116     Condominium
       16647903               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   90019     Single Family
       16647904               0             0               0.25                                   6.125     BRENTWOOD                                      CA                   94513     Single Family
       16647905               0             0               0.25                                   6.125     EL CAJON                                       CA                   92021     Single Family
       16647906               0             0               0.25                                   6.625     BURLINGAME                                     CA                   94010     Condominium
       16647907               0             0               0.25                                   6.875     FREMONT                                        CA                   94536     Single Family
       16647908               0             0               0.25                                     6.5     NEWBURY PARK                                   CA                   91320     PUD
       16647909               0             0               0.25                                    6.75     ROSEVILLE                                      CA                   95747     Single Family
       16647910               0             0               0.25                                     6.5     MILPITAS                                       CA                   95035     PUD
       16647911               0             0               0.25                                   5.875     SILVER SPRING                                  MD                   20905     Single Family
       16647912               0             0               0.25                                   5.875     SAN FRANCISCO                                  CA                   94109     Single Family
       16647913               0             0               0.25                                    5.75     PITTSBURG                                      CA                   94565     Single Family
       16647914               0             0               0.25                                   5.875     MIDDLEBURG                                     FL                   32068     Single Family
       16647915               0             0               0.25                                   6.125     JACKSON                                        WY                   83001     Single Family
       16647916               0             0               0.25                                    6.25     RIVERSIDE                                      CA                   92503     PUD
       16633750               0             0               0.25                                   6.625     WOODBRIDGE                                     VA                   22191     PUD
       16633913               0             0               0.25                                     6.5     CHICAGO                                        IL                   60657     Single Family
       16633751               0             0               0.25                                     6.5     LA QUINTA                                      CA                   92253     PUD
       16633914               0             0               0.25                                   6.375     CARLSBAD                                       CA                   92009     Single Family
       16633752               0             0               0.25                                   6.875     LA MIRADA                                      CA                   90638     PUD
       16633753               0             0               0.25                                   6.875     MERCER ISLAND                                  WA                   98040     Single Family
       16633915               0             0               0.25                                     6.5     CARLSBAD                                       CA                   92008     Condominium
       16633916               0             0               0.25                                     5.5     UPPER MARLBORO                                 MD                   20774     PUD
       16633754               0             0               0.25                                    6.25     CHELSEA                                        AL                   35043     Single Family
       16633917               0             0               0.25                                     6.5     GREAT FALLS                                    VA                   22066     Single Family
       16633755               0             0               0.25                                     6.5     GRANADA HILLS AREA LOS AN                      CA                   91344     Single Family
       16633918               0             0               0.25                                    6.25     ST JOSEPH                                      MI                   49085     Single Family
       16633756               0             0               0.25                                   6.125     ANAHEIM                                        CA                   92808     Single Family
       16633919               0             0               0.25                                    6.25     PARAMOUNT                                      CA                   90723     Single Family
       16633757               0             0               0.25                                   6.875     SAN DIEGO                                      CA                   92110     Single Family
       16633758               0             0               0.25                                     6.5     MANTECA                                        CA                   95337     Single Family
       16633759               0             0               0.25                                   6.375     BELLFLOWER                                     CA                   90706     Single Family
       16633920               0             0               0.25                                   6.625     CANBY                                          OR                   97013     Single Family
       16633921               0             0               0.25                                    6.25     MINNETONKA                                     MN                   55343     Single Family
       16633760               0             0               0.25                                    6.25     IRVINE                                         CA                   92612     Single Family
       16633922               0             0               0.25                                   6.375     PORT HUENEME                                   CA                   93041     Single Family
       16633761               0             0               0.25                                     6.5     DANVILLE                                       CA                   94526     Single Family
       16633923               0             0               0.25                                    6.75     AUSTIN                                         TX                   78733     PUD
       16633762               0             0               0.25                                    6.25     EL CAJON                                       CA                   92021     Single Family
       16633924               0             0               0.25                                   6.125     SAN JOSE                                       CA                   95123     Single Family
       16633763               0             0               0.25                                   6.625     HUNTINGTON BEACH                               CA                   92647     Single Family
       16633925               0             0               0.25                                   6.375     SOUTH SAN FRANCISCO                            CA                   94080     Single Family
       16633764               0             0               0.25                                   6.375     RIVERSIDE                                      CA                   92503     PUD
       16633926               0             0               0.25                                   5.875     LOS ANGELES                                    CA                   91342     Single Family
       16633765               0             0               0.25                                    6.25     FRANKLIN                                       TN                   37064     PUD
       16633927               0             0               0.25                                       6     ELLICOTT CITY                                  MD                   21042     Single Family
       16633766               0             0               0.25                                    6.25     IRVINE                                         CA                   92620     Condominium
       16633928               0             0               0.25                                   5.875     UPLAND                                         CA                   91784     Single Family
       16633929               0             0               0.25                                   6.375     INGLEWOOD                                      CA                   90302     Single Family
       16633768               0             0               0.25                                    6.25     ONTARIO                                        CA                   91762     Single Family
       16633769               0             0               0.25                                     6.5     GUILFORD                                       CT                    6437     Single Family
       16633930               0             0               0.25                                   6.125     ALTADENA                                       CA                   91001     PUD
       16633931               0             0               0.25                                   6.875     RALEIGH                                        NC                   27609     PUD
       16633932               0             0               0.25                                    6.25     SAN FRANCISCO                                  CA                   94103     Condominium
       16633770               0             0               0.25                                   6.625     LIVERMORE                                      CA                   94550     PUD
       16633771               0             0               0.25                                     6.5     LEESBURG                                       VA                   20176     PUD
       16633933               0             0               0.25                                   6.375     PINOLE                                         CA                   94564     Single Family
       16633934               0             0               0.25                                    6.25     LINCOLN                                        CA                   95648     PUD
       16633772               0             0               0.25                                     6.5     SAN DIMAS                                      CA                   91773     Single Family
       16633773               0             0               0.25                                    3.99     NIPOMO                                         CA                   93444     PUD
       16633935               0             0               0.25                                    7.25     SANDY                                          UT                   84092     PUD
       16633774               0             0               0.25                                   6.875     MILLSBORO                                      DE                   19966     Condominium
       16633936               0             0               0.25                                    5.25     CORAL GABLES                                   FL                   33134     Single Family
       16633937               0             0               0.25                                    6.25     SAN CARLOS                                     CA                   94070     Single Family
       16633938               0             0               0.25                                   5.625     REDMOND                                        WA                   98052     Single Family
       16633776               0             0               0.25                                    7.25     SAN DIEGO                                      CA                   92130     Condominium
       16633939               0             0               0.25                                    5.75     MOORESVILLE                                    NC                   28117     Single Family
       16633777               0             0               0.25                                   6.625     VENTURA                                        CA                   93004     Single Family
       16633778               0             0               0.25                                     5.5     CAMARILLO                                      CA                   93010     Single Family
       16633940               0             0               0.25                                   6.125     ALHAMBRA                                       CA                   91803     Single Family
       16633941               0             0               0.25                                       6     MCLEAN                                         VA                   22101     Single Family
       16633780               0             0               0.25                                    3.99     LA QUINTA                                      CA                   92253     PUD
       16633943               0             0               0.25                                   6.375     ARCADIA                                        CA                   91006     Single Family
       16633781               0             0               0.25                                    3.99     CHANDLER                                       AZ                   85248     PUD
       16633782               0             0               0.25                                    3.99     PATTERSON                                      CA                   95363     Single Family
       16633944               0             0               0.25                                       6     MILPITAS                                       CA                   95035     Condominium
       16633945               0             0               0.25                                    6.75     UNION CITY                                     CA                   94587     Single Family
       16633783               0             0               0.25                                   5.875     NORTH BRUNSWICK                                NJ                    8902     Single Family
       16633784               0             0               0.25                                   6.125     SAN JOSE                                       CA                   95138     Single Family
       16633946               0             0               0.25                                     6.5     BOYNTON BEACH                                  FL                   33437     PUD
       16633947               0             0               0.25                                   6.375     CHINO                                          CA                   91710     Single Family
       16633785               0             0               0.25                                   6.125     LOMPOC                                         CA                   93436     PUD
       16633786               0             0               0.25                                   6.875     LAKE STEVENS                                   WA                   98258     Single Family
       16633948               0             0               0.25                                    6.75     NORHTRIDGE AREA                                CA                   91326     Condominium
       16633787               0             0               0.25                                   6.875     ROSEVILLE                                      CA                   95747     PUD
       16633949               0             0               0.25                                   6.625     SAN JOSE                                       CA                   95132     Single Family
       16633788               0             0               0.25                                    6.25     FREMONT                                        CA                   94539     Single Family
       16633789               0             0               0.25                                   5.625     TUALATIN                                       OR                   97062     PUD
       16633790               0             0               0.25                                   6.375     ALHAMBRA                                       CA                   91801     Condominium
       16633791               0             0               0.25                                   6.125     LONG ISLAND CITY                               NY                   11102     Condominium
       16633792               0             0               0.25                                     6.5     LADERA RANCH AREA                              CA                   92694     Condominium
       16633793               0             0               0.25                                   6.375     BAKERSFIELD                                    CA                   93311     PUD
       16633794               0             0               0.25                                    6.25     REDMOND                                        WA                   98052     Single Family
       16633795               0             0               0.25                                   5.625     ELK GROVE                                      CA                   95757     Single Family
       16633796               0             0               0.25                                   6.375     LIVERMORE                                      CA                   94550     Single Family
       16633797               0             0               0.25                                    6.75     LA QUINTA                                      CA                   92253     PUD
       16633798               0             0               0.25                                       7     DENVER                                         CO                   80210     Single Family
       16633799               0             0               0.25                                   6.375     GLENVIEW                                       IL                   60025     Single Family
       16633709               0             0               0.25                                    6.25     TEHACHAPI                                      CA                   93561     Single Family
       16633712               0             0               0.25                                   6.375     SCOTTSDALE                                     AZ                   85255     PUD
       16633713               0             0               0.25                                    6.75     SAN JOSE                                       CA                   95136     Condominium
       16633714               0             0               0.25                                     6.5     BONITA SPRINGS                                 FL                   34109     PUD
       16633715               0             0               0.25                                   6.375     WINNETKA                                       IL                   60093     Single Family
       16633716               0             0               0.25                                   5.875     SAN JOSE                                       CA                   95125     Single Family
       16633717               0             0               0.25                                     6.5     ENCINITAS                                      CA                   92024     PUD
       16633718               0             0               0.25                                    6.25     LOUDON                                         TN                   37774     PUD
       16633719               0             0               0.25                                     5.5     BRENTWOOD                                      CA                   94513     PUD
       16633720               0             0               0.25                                    5.75     SAN LORENZO                                    CA                   94580     Single Family
       16633721               0             0               0.25                                       6     INCLINE VILLAGE                                NV                   89451     Single Family
       16633722               0             0               0.25                                    6.75     RENO                                           NV                   89511     Single Family
       16633723               0             0               0.25                                   6.875     WOODBRIDGE                                     VA                   22191     PUD
       16633724               0             0               0.25                                     6.5     CHANDLER                                       AZ                   85249     Single Family
       16633725               0             0               0.25                                     6.5     WALTHAM                                        MA                    2451     Single Family
       16633726               0             0               0.25                                   5.625     CHATSWORTH                                     CA                   91311     Single Family
       16647891               0             0               0.25                                   6.625     MAMMOTH LAKES                                  CA                   93546     Condominium
       16647892               0             0               0.25                                    6.25     CHULA VISTA                                    CA                   91910     Single Family
       16647893               0             0               0.25                                   5.875     SAN DIEGO                                      CA                   92107     2-4 Family
       16647895               0             0               0.25                                    6.75     CHICAGO                                        IL                   60625     2-4 Family
       16647896               0             0               0.25                                   6.625     APTOS                                          CA                   95003     Single Family
       16647897               0             0               0.25                                    6.75     PLYMOUTH                                       MN                   55446     Single Family
       16647898            0.37             0               0.25                                   6.625     LONG BEACH                                     CA                   90804     2-4 Family
       16647899               0             0               0.25                                   6.625     NEW YORK                                       NY                   10016     Condominium
       16647835               0             0               0.25                                       6     MULLICA HILL                                   NJ                    8062     PUD
       16647836               0             0               0.25                                   6.875     GAINESVILLE                                    VA                   20155     PUD
       16647837               0             0               0.25                                     6.5     ALEXANDRIA                                     VA                   22304     PUD
       16647838               0             0               0.25                                   6.375     LANCASTER                                      CA                   93536     Single Family
       16647839               0             0               0.25                                   6.625     CORONA                                         CA                   92880     Single Family
       16647840               0             0               0.25                                   6.625     ALEXANDRIA                                     VA                   22314     Single Family
       16647841               0             0               0.25                                   6.625     SHEPHERDSTOWN                                  WV                   25443     PUD
       16647844               0             0               0.25                                   6.375     SAN CLEMENTE                                   CA                   92673     Single Family
       16647846               0             0               0.25                                   7.125     LAGUNA HILLS                                   CA                   92653     Single Family
       16647848               0             0               0.25                                   5.875     DADEVILLE                                      AL                   36853     Single Family
       16647849               0             0               0.25                                   6.625     COLORADO SPRINGS                               CO                   80906     PUD
       16647850               0             0               0.25                                   6.125     SEASIDE                                        OR                   97138     Single Family
       16647851               0             0               0.25                                     6.5     PORT HUENEME                                   CA                   93041     PUD
       16647852               0             0               0.25                                    6.25     EL CAJON                                       CA                   92021     Single Family
       16647853               0             0               0.25                                    6.25     EL DORADO HILLS                                CA                   95762     PUD
       16647854               0             0               0.25                                    7.25     OAKLAND                                        CA                   94607     Condominium
       16647855               0             0               0.25                                   5.875     HOLLISTER                                      CA                   95023     Single Family
       16647856               0             0               0.25                                    6.75     HENDERSON                                      NV                   89015     PUD
       16647857               0             0               0.25                                   5.875     SIMI VALLEY                                    CA                   93065     Single Family
       16647858               0             0               0.25                                    6.75     SOUTH GATE                                     CA                   90280     Single Family
       16647859               0             0               0.25                                   6.625     DADE CITY                                      FL                   33525     PUD
       16647860               0             0               0.25                                   6.375     CLARKSBURG                                     MD                   20871     PUD
       16647861               0             0               0.25                                     6.5     BURBANK                                        CA                   91506     Single Family
       16647862               0             0               0.25                                   6.125     SNOQUALMIE                                     WA                   98065     PUD
       16647864               0             0               0.25                                   6.375     LAS VEGAS                                      NV                   89178     PUD
       16647865               0             0               0.25                                   6.375     HOUSTON                                        TX                   77005     Single Family
       16647866               0             0               0.25                                    6.75     BIRMINGHAM                                     MI                   48009     Single Family
       16647867               0             0               0.25                                   6.875     SCOTTSDALE                                     AZ                   85254     Single Family
       16647868               0             0               0.25                                   6.625     LAS VEGAS                                      NV                   89139     PUD
       16647869               0             0               0.25                                    6.75     LOS ANGELES                                    CA                   90024     Condominium
       16647870               0             0               0.25                                   5.875     APPLE VALLEY                                   CA                   92307     Single Family
       16647871               0             0               0.25                                    6.25     VALENCIA AREA                                  CA                   91354     PUD
       16647873               0             0               0.25                                   6.125     BRISTOW                                        VA                   20136     PUD
       16647874               0             0               0.25                                    6.75     CLARKSBURG                                     MD                   20871     PUD
       16647875               0             0               0.25                                    6.75     CLARKSBURG                                     MD                   20871     PUD
       16647876               0             0               0.25                                    6.25     GILBERT                                        AZ                   85297     PUD
       16647877               0             0               0.25                                     6.5     PORTLAND                                       OR                   97219     Single Family
       16647878               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90024     Condominium
       16647880               0             0               0.25                                   6.375     BRENTWOOD                                      CA                   94513     Single Family
       16647881               0             0               0.25                                   6.875     FULLERTON                                      CA                   92833     Condominium
       16647882               0             0               0.25                                   6.125     SILVER SPRING                                  MD                   20901     Single Family
       16647883               0             0               0.25                                   6.375     ELK GROVE                                      CA                   95757     PUD
       16647884               0             0               0.25                                    6.25     ATLANTA                                        GA                   30324     Single Family
       16647885               0             0               0.25                                     6.5     COEUR D'ALENE                                  ID                   83814     PUD
       16647886               0             0               0.25                                   6.125     BELLEVUE                                       WA                   98006     PUD
       16647887               0             0               0.25                                    6.25     AULT                                           CO                   80610     PUD
       16647888               0             0               0.25                                       6     BROADLANDS                                     VA                   20148     PUD
       16647889               0             0               0.25                                   6.375     PARIS                                          KY                   40361     Single Family
       16647890               0             0               0.25                                    6.75     MIAMI BEACH                                    FL                   33141     Condominium
       16633881               0             0               0.25                                   6.125     LAKE OSWEGO                                    OR                   97034     Single Family
       16633882               0             0               0.25                                    6.25     GRANITE BAY                                    CA                   95746     PUD
       16633883               0             0               0.25                                   6.125     CANYON COUNTRY                                 CA                   91351     Condominium
       16633884               0             0               0.25                                    6.25     SIMI VALLEY                                    CA                   93065     PUD
       16633885               0             0               0.25                                    6.25     DOYLESTOWN                                     PA                   18901     Single Family
       16633886               0             0               0.25                                   5.375     BAKERSFIELD                                    CA                   93311     Single Family
       16633887               0             0               0.25                                    6.75     PASO ROBLES                                    CA                   93446     Single Family
       16633888            0.49             0               0.25                                    7.25     CORONA                                         CA                   92883     Condominium
       16633889               0             0               0.25                                   5.625     INDIO                                          CA                   92203     PUD
       16633890               0             0               0.25                                    6.75     TUCSON                                         AZ                   85749     Single Family
       16633891               0             0               0.25                                    6.75     GRAND RAPIDS                                   MI                   49525     Condominium
       16633892               0             0               0.25                                     6.5     DALY CITY                                      CA                   94015     Single Family
       16633893               0             0               0.25                                   6.125     SADDLE RIVER                                   NJ                    7458     Single Family
       16633894               0             0               0.25                                       7     FORT LAUDERDALE                                FL                   33308     Single Family
       16633895               0             0               0.25                                   6.375     SAN CLEMENTE                                   CA                   92673     Single Family
       16633896               0             0               0.25                                   5.125     ORANGE                                         CA                   92867     Condominium
       16633897               0             0               0.25                                   6.125     SAN JOSE                                       CA                   95138     Single Family
       16633898               0             0               0.25                                     6.5     HUNTINGTON BEACH                               CA                   92648     Condominium
       16633899               0             0               0.25                                     6.5     KIRKLAND                                       WA                   98034     Single Family
       16633900               0             0               0.25                                    5.75     SUWANEE                                        GA                   30024     PUD
       16633901               0             0               0.25                                    6.75     CHICAGO                                        IL                   60655     Single Family
       16633740               0             0               0.25                                    6.75     GILBERT                                        AZ                   85297     PUD
       16633902               0             0               0.25                                   6.375     WALNUT CREEK                                   CA                   94597     Condominium
       16633741               0             0               0.25                                    6.75     EDGEWATER                                      MD                   21037     PUD
       16633903               0             0               0.25                                   5.875     CUMMING                                        GA                   30041     Single Family
       16633904               0             0               0.25                                     6.5     CHICAGO                                        IL                   60622     Single Family
       16633742               0             0               0.25                                   6.375     GAITHERSBURG                                   MD                   20882     Single Family
       16633905               0             0               0.25                                    6.75     MIRA LOMA                                      CA                   91752     Single Family
       16633743               0             0               0.25                                   6.375     LAS VEGAS                                      NV                   89141     PUD
       16633744               0             0               0.25                                   6.375     FREMONT                                        CA                   94538     Single Family
       16633906               0             0               0.25                                     6.5     NOKOMIS                                        FL                   34275     Single Family
       16633907               0             0               0.25                                    6.75     LOS GATOS                                      CA                   95033     Single Family
       16633745               0             0               0.25                                    5.25     HAYMARKET                                      VA                   20169     PUD
       16633908               0             0               0.25                                     6.5     GLENCOE                                        IL                   60022     Single Family
       16633746               0             0               0.25                                     6.5     TACOMA                                         WA                   98407     Single Family
       16633909               0             0               0.25                                    6.25     SAN JOSE                                       CA                   95121     Single Family
       16633747               0             0               0.25                                     5.5     LAS VEGAS                                      NV                   89131     PUD
       16633748               0             0               0.25                                    7.25     LAS VEGAS                                      NV                   89110     Single Family
       16633749               0             0               0.25                                   6.875     FORT LAUDERDALE                                FL                   33312     PUD
       16648000               0             0               0.25                                   6.125     PEORIA                                         AZ                   85383     PUD
       16648002               0             0               0.25                                    5.75     RIVERSIDE                                      CA                   92503     PUD
       16648003               0             0               0.25                                   6.375     MIRAMAR                                        FL                   33029     PUD
       16633910               0             0               0.25                                       7     OCEANSIDE                                      CA                   92057     PUD
       16633911               0             0               0.25                                       6     OXNARD                                         CA                   93030     Single Family
       16633912               0             0               0.25                                       6     CHULA VISTA                                    CA                   91915     PUD
       16633850               0             0               0.25                                   6.125     ENUMCLAW                                       WA                   98022     Single Family
       16633851               0             0               0.25                                       6     LOS ANGELES                                    CA                   90065     Single Family
       16633852               0             0               0.25                                   6.125     LAS VEGAS                                      NV                   89108     Single Family
       16633853               0             0               0.25                                   6.375     SIMI VALLEY                                    CA                   93063     Single Family
       16633854               0             0               0.25                                   6.875     TRUCKEE                                        CA                   96161     PUD
       16633855               0             0               0.25                                    6.25     SAN JOSE                                       CA                   95118     Single Family
       16633856               0             0               0.25                                   6.875     PEORIA                                         AZ                   85383     PUD
       16633857               0             0               0.25                                    5.75     SIMI VALLEY                                    CA                   93065     Single Family
       16633858            0.39             0               0.25                                       7     MORENO VALLEY                                  CA                   92555     PUD
       16633859               0             0               0.25                                   6.625     BOULDER CREEK                                  CA                   95006     Single Family
       16633860               0             0               0.25                                     6.5     MELROSE                                        MA                    2176     Single Family
       16633861               0             0               0.25                                   6.625     CARVER                                         MA                    2330     Single Family
       16633862               0             0               0.25                                   6.125     OAKDALE                                        CA                   95361     Single Family
       16633863               0             0               0.25                                    6.75     ATASCADERO                                     CA                   93422     Single Family
       16633864               0             0               0.25                                   5.875     ISSAQUAH                                       WA                   98029     PUD
       16633865               0             0               0.25                                   6.875     KIHEI                                          HI                   96753     Single Family
       16633866               0             0               0.25                                   5.375     EWA BEACH                                      HI                   96706     PUD
       16633867               0             0               0.25                                    5.75     DAVIE                                          FL                   33330     Single Family
       16633868               0             0               0.25                                   7.125     BEVERLY HILLS                                  CA                   90211     Single Family
       16633869               0             0               0.25                                   5.875     LADERA RANCH                                   CA                   92694     Condominium
       16633870               0             0               0.25                                   6.375     RIVERSIDE                                      CA                   92506     Single Family
       16633871               0             0               0.25                                   5.875     CAMARILLO                                      CA                   93012     PUD
       16633872               0             0               0.25                                    6.75     HAYDEN                                         ID                   83835     Single Family
       16633873               0             0               0.25                                   6.125     SAN JOSE                                       CA                   95139     PUD
       16633874               0             0               0.25                                   6.875     HENDERSON                                      NV                   89012     PUD
       16633875               0             0               0.25                                     6.5     SPRINGFIELD                                    VA                   22153     PUD
       16633876               0             0               0.25                                    6.75     NORTHRIDGE                                     CA                   91324     Single Family
       16633877               0             0               0.25                                    5.75     HENDERSON                                      NV                   89052     PUD
       16633878               0             0               0.25                                    6.25     HUNTINGTON BEACH                               CA                   92646     Single Family
       16633879               0             0               0.25                                   6.375     CHULA VISTA                                    CA                   91913     PUD
       16633880               0             0               0.25                                    6.25     OXNARD                                         CA                   93033     Single Family
       16633711               0             0               0.25                                   6.625     BAKERSFIELD                                    CA                   93314     Single Family
       16633831               0             0               0.25                                     6.5     LAS VEGAS                                      NV                   89149     PUD
       16633727               0             0               0.25                                   6.375     HAYMARKET                                      VA                   20169     PUD
       16633728               0             0               0.25                                   6.625     GAINESVILLE                                    VA                   20155     PUD
       16633729               0             0               0.25                                   6.875     LENOIR CITY                                    TN                   37771     Single Family
       16633730               0             0               0.25                                   6.125     RANCHO CUCAMONGA                               CA                   91739     Single Family
       16633731               0             0               0.25                                    6.75     IRVINE                                         CA                   92606     PUD
       16633732               0             0               0.25                                    5.75     RANCHO CUCAMONGA                               CA                   91739     Single Family
       16633733               0             0               0.25                                   6.625     MORGAN HILL                                    CA                   95037     PUD
       16633734               0             0               0.25                                   5.875     HAYMARKET                                      VA                   20169     PUD
       16633735               0             0               0.25                                    6.75     AURORA                                         CO                   80016     PUD
       16633736               0             0               0.25                                    7.25     ESTERO                                         FL                   33928     PUD
       16633737               0             0               0.25                                   6.625     PASO ROBLES                                    CA                   93446     Single Family
       16633738               0             0               0.25                                   6.125     ATLANTA                                        GA                   30327     Single Family
       16633739               0             0               0.25                                    7.25     BELLINGHAM                                     WA                   98225     Single Family
       16633843               0             0               0.25                                   6.625     BROADLANDS                                     VA                   20148     PUD
       16633844               0             0               0.25                                    6.25     PINE                                           CO                   80470     PUD
       16633845               0             0               0.25                                       6     LONG BEACH                                     CA                   90807     Single Family
       16633846               0             0               0.25                                   6.375     WINDERMERE                                     FL                   32819     PUD
       16633847               0             0               0.25                                    6.25     SEAL BEACH                                     CA                   90740     Single Family
       16633848               0             0               0.25                                     6.5     GLENDALE                                       CA                   91201     Single Family
       16633849               0             0               0.25                                       6     CORONA                                         CA                   92880     Single Family
       16633838               0             0               0.25                                   6.125     RANCHO SANTA MARGARITA                         CA                   92688     PUD
       16633839               0             0               0.25                                     7.5     SAN MARCOS                                     CA                   92078     Single Family
       16633840               0             0               0.25                                   6.375     SIMI VALLEY                                    CA                   93065     Condominium
       16633841               0             0               0.25                                   6.375     IRVINE                                         CA                   92603     Condominium
       16633842               0             0               0.25                                    6.25     NICHOLASVILLE                                  KY                   40356     Single Family
       16633821             0.6             0               0.25                                     6.5     CHULA VISTA                                    CA                   91911     Single Family
       16633822               0             0               0.25                                   6.875     SAN RAMON                                      CA                   94582     Single Family
       16633823               0             0               0.25                                    6.25     TELLURIDE                                      CO                   81435     Condominium
       16633824               0             0               0.25                                    6.25     SAUGUS                                         MA                    1906     Single Family
       16633825               0             0               0.25                                    6.25     NORTHRIDGE                                     CA                   91326     Single Family
       16633826               0             0               0.25                                       6     OVERLAND PARK                                  KS                   66085     PUD
       16633827               0             0               0.25                                   6.125     ANAHEIM                                        CA                   92808     PUD
       16633828               0             0               0.25                                    6.75     SPOTSYLVANIA                                   VA                   22553     PUD
       16633829               0             0               0.25                                       7     CHICAGO                                        IL                   60614     Condominium
       16633830               0             0               0.25                                   6.875     NEWPORT BEACH                                  CA                   92660     Single Family
       16633832               0             0               0.25                                   6.625     WELLINGTON                                     FL                   33414     PUD
       16633833               0             0               0.25                                   6.875     CLOVIS                                         CA                   93619     PUD
       16633834               0             0               0.25                                     6.5     NORTHRIDGE                                     CA                   91326     Single Family
       16633835               0             0               0.25                                   6.875     PASADENA AREA                                  CA                   91107     Single Family
       16633836               0             0               0.25                                   6.125     HOLMDEL                                        NJ                    7733     Single Family
       16633837               0             0               0.25                                   5.875     SAN JOSE                                       CA                   95110     Single Family
       16633817               0             0               0.25                                   6.875     ONSTED                                         MI                   49265     Single Family
       16633818               0             0               0.25                                       5     SARATOGA                                       CA                   95070     Single Family
       16633819               0             0               0.25                                   6.625     TUCSON                                         AZ                   85701     PUD
       16633820               0             0               0.25                                       6     BRENTWOOD                                      CA                   94513     PUD
       16633815               0             0               0.25                                    6.75     SALINAS                                        CA                   93908     Single Family
       16633816               0             0               0.25                                   6.625     FULLERTON                                      CA                   92835     Single Family
       16633814               0             0               0.25                                   6.625     NEW YORK                                       NY                   10021     CO-OP
       16633804               0             0               0.25                                   6.375     BRONXVILLE                                     NY                   10708     Single Family
       16633805               0             0               0.25                                   6.875     MCLEAN                                         VA                   22102     Single Family
       16633806               0             0               0.25                                    6.25     MONKTON                                        MD                   21111     Single Family
       16633807               0             0               0.25                                   5.875     GARDENA                                        CA                   90247     Single Family
       16633808               0             0               0.25                                   6.625     PRIOR LAKE                                     MN                   55372     Single Family
       16633809               0             0               0.25                                   6.625     DALY CITY                                      CA                   94014     Single Family
       16633810               0             0               0.25                                   6.375     SAN JOSE                                       CA                   95138     PUD
       16633811               0             0               0.25                                    6.25     BAY SHORE                                      NY                   11706     Single Family
       16633812               0             0               0.25                                       7     ELLICOTT CITY                                  MD                   21043     PUD
       16633813               0             0               0.25                                     6.5     SUNNYVALE                                      CA                   94087     Single Family
       16633800               0             0               0.25                                   6.375     CHICO                                          CA                   95973     Single Family
       16633801               0             0               0.25                                     6.5     BIRMINGHAM                                     AL                   35242     PUD
       16633802               0             0               0.25                                    6.75     LA GRANGE                                      CA                   95329     Single Family
       16633803               0             0               0.25                                     5.5     LA QUINTA                                      CA                   92253     PUD
       16647991               0             0               0.25                                       6     HINSDALE                                       IL                   60521     Single Family
       16647992               0             0               0.25                                    5.75     ESCONDIDO                                      CA                   92026     PUD
       16647993               0             0               0.25                                    6.25     PANAMA CITY BEACH                              FL                   32408     Single Family
       16647994               0             0               0.25                                   5.875     WOODLAND                                       CA                   95695     Single Family
       16647995               0             0               0.25                                   6.375     DOWNEY                                         CA                   90242     Single Family
       16647996               0             0               0.25                                     6.5     SCOTTSDALE                                     AZ                   85259     PUD
       16647997               0             0               0.25                                   6.625     POMPANO BEACH                                  FL                   33064     Condominium
       16647998               0             0               0.25                                    6.75     BELLEVUE                                       WA                   98004     Single Family
       16647999               0             0               0.25                                   6.125     ANNAPOLIS                                      MD                   21409     Single Family
       16634866               0             0               0.25                                    6.75     LA CONNER                                      WA                   98257     Single Family
       16634871               0             0               0.25                                       7     WAXHAW                                         NC                   28173     PUD
       16635203               0             0               0.25                                   6.375     NORCO                                          CA                   92860     Single Family
       16635204               0             0               0.25                                     6.5     FOUNTAIN HILLS                                 AZ                   85268     PUD
       16635042               0             0               0.25                                   5.125     MOORPARK                                       CA                   93021     PUD
       16635205               0             0               0.25                                    6.75     SILVER SPRING                                  MD                   20903     Single Family
       16635044               0             0               0.25                                    6.75     BRADENTON                                      FL                   34202     PUD
       16635208               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   90026     Single Family
       16635048               0             0               0.25                                   6.375     IRVINE                                         CA                   92620     PUD
       16635049               0             0               0.25                                   6.875     SAN RAMON                                      CA                   94582     PUD
       16635210               0             0               0.25                                   6.375     LAS VEGAS                                      NV                   89143     PUD
       16635211               0             0               0.25                                     6.5     PATTERSON                                      CA                   95363     Single Family
       16635050               0             0               0.25                                    6.25     BEDFORD HILLS                                  NY                   10507     Single Family
       16635213               0             0               0.25                                    6.75     SAN FRANCISCO                                  CA                   94116     Single Family
       16635052               0             0               0.25                                    6.25     SUMMIT                                         NJ                    7901     Single Family
       16635215               0             0               0.25                                    6.75     SAN PEDRO                                      CA                   90731     Single Family
       16635216               0             0               0.25                                     6.5     WOODLAND HILLS                                 CA                   91367     Single Family
       16635218               0             0               0.25                                   6.375     BELLEVUE                                       WA                   98008     Single Family
       16635056               0             0               0.25                                   6.875     SAN DIEGO                                      CA                   92127     PUD
       16635057               0             0               0.25                                   6.625     LOS ANGELES                                    CA                   90038     Condominium
       16635059               0             0               0.25                                   6.625     STAMFORD                                       CT                    6905     Single Family
       16635001               0             0               0.25                                       7     SAN RAFAEL                                     CA                   94903     Single Family
       16635002               0             0               0.25                                   6.625     RIVERSIDE                                      CA                   92506     Single Family
       16635005               0             0               0.25                                    6.75     SIGNAL HILL                                    CA                   90755     PUD
       16635006               0             0               0.25                                     6.5     HEBER CITY                                     UT                   84032     Single Family
       16635007               0             0               0.25                                   6.375     ASHBURN                                        VA                   20147     PUD
       16635009               0             0               0.25                                   6.625     SAN DIEGO                                      CA                   92130     Condominium
       16635010               0             0               0.25                                    6.75     CHULA VISTA                                    CA                   91913     PUD
       16635012               0             0               0.25                                   6.375     ESCONDIDO                                      CA                   92026     Single Family
       16635014               0             0               0.25                                   6.875     MC LEAN                                        VA                   22101     Single Family
       16635020               0             0               0.25                                    5.99     WEST ROXBURY                                   MA                    2132     Single Family
       16635024               0             0               0.25                                     6.5     HENDERSON                                      NV                   89015     PUD
       16635025               0             0               0.25                                   6.625     ATASCADERO                                     CA                   93422     Single Family
       16635026               0             0               0.25                                   6.375     OXNARD                                         CA                   93033     Single Family
       16635027               0             0               0.25                                   6.375     FULLERTON                                      CA                   92833     Condominium
       16635028               0             0               0.25                                   6.125     CINCINNATI                                     OH                   45243     Single Family
       16635029               0             0               0.25                                    6.25     MIRA LOMA                                      CA                   91752     Single Family
       16635030               0             0               0.25                                   6.625     SAN FRANCISCO                                  CA                   94107     Condominium
       16635031               0             0               0.25                                    6.75     STUDIO CITY                                    CA                   91604     Condominium
       16635033               0             0               0.25                                    6.75     LAS VEGAS                                      NV                   89118     PUD
       16635038               0             0               0.25                                     6.5     CHULA VISTA                                    CA                   91910     PUD
       16635039               0             0               0.25                                    6.75     SNOWMASS VILLAGE                               CO                   81615     Condominium
       16635200               0             0               0.25                                       6     FAIRFIELD                                      CA                   94534     Single Family
       16635201               0             0               0.25                                    6.25     GARDENA                                        CA                   90247     Single Family
       16635202               0             0               0.25                                     6.5     MANHATTAN BEACH                                CA                   90266     Single Family
       16635040               0             0               0.25                                   5.875     BELLEVUE                                       WA                   98005     Single Family
       16167018               0             0               0.25                                   7.125     LA JOLLA                                       CA                   92037     Single Family
       16634855               0             0               0.25                                   5.625     PHILADELPHIA                                   PA                   19146     Condominium
       16634856               0             0               0.25                                     6.5     LOS OLIVOS                                     CA                   93441     Single Family
       16634859               0             0               0.25                                   6.625     SAN DIEGO                                      CA                   92127     PUD
       16634860               0             0               0.25                                    5.75     NEW ALBANY                                     OH                   43054     PUD
       16634861               0             0               0.25                                    4.75     PALMDALE                                       CA                   93551     PUD
       16634863               0             0               0.25                                       7     EAGLE                                          CO                   81631     PUD
       16634865               0             0               0.25                                   5.875     SEEKONK                                        MA                    2771     Single Family
       16634868               0             0               0.25                                   5.875     TUALATIN                                       OR                   97062     PUD
       16634869               0             0               0.25                                    6.75     HENDERSON                                      NV                   89015     PUD
       16634870               0             0               0.25                                    6.75     SAN BRUNO                                      CA                   94066     Single Family
       16634872               0             0               0.25                                   6.625     GILBERT                                        AZ                   85296     Single Family
       16634873               0             0               0.25                                    6.25     CAMAS                                          WA                   98607     PUD
       16634874               0             0               0.25                                   6.375     FREMONT                                        CA                   94536     PUD
       16634877               0             0               0.25                                    6.25     CITY OF CONCORD                                CA                   94518     Single Family
       16634880               0             0               0.25                                   6.375     KELLER                                         TX                   76248     PUD
       16634883               0             0               0.25                                   6.375     UPPER MARLBORO                                 MD                   20774     PUD
       16634884               0             0               0.25                                   6.125     ORANGE                                         CA                   92869     Single Family
       16634886               0             0               0.25                                    6.75     ANDOVER                                        MA                    1810     Single Family
       16634888               0             0               0.25                                   6.625     CORONA                                         CA                   92879     PUD
       16634890               0             0               0.25                                   6.625     INGLEWOOD                                      CA                   90305     PUD
       16634893               0             0               0.25                                    6.75     LAKEWAY                                        TX                   78734     Single Family
       16634895               0             0               0.25                                   6.375     NORTHRIDGE                                     CA                   91343     Single Family
       16635159               0             0               0.25                                   6.625     WINDSOR                                        CO                   80550     PUD
       16635162               0             0               0.25                                   6.875     YORK BEACH                                     ME                    3910     Single Family
       16635163               0             0               0.25                                     6.5     VENICE                                         CA                   90291     Single Family
       16635165               0             0               0.25                                     6.5     SUNNYVALE                                      CA                   94087     Single Family
       16635167               0             0               0.25                                   6.625     KENMORE                                        WA                   98028     PUD
       16635168               0             0               0.25                                     6.5     VALLEJO                                        CA                   94591     Single Family
       16635169               0             0               0.25                                    6.75     SALINAS                                        CA                   93901     Single Family
       16635170               0             0               0.25                                    6.75     HERMOSA BEACH                                  CA                   90254     Single Family
       16635171               0             0               0.25                                     6.5     VISTA                                          CA                   92081     Single Family
       16635174               0             0               0.25                                   6.625     PLACENTIA                                      CA                   92870     Single Family
       16635175               0             0               0.25                                     6.5     SIMI VALLEY                                    CA                   93065     Single Family
       16635176               0             0               0.25                                   6.375     SIMI VALLEY                                    CA                   93063     PUD
       16635178               0             0               0.25                                   6.375     BURBANK                                        CA                   91505     Single Family
       16635184               0             0               0.25                                   6.875     DOUGLAS                                        MA                    1516     Single Family
       16635143               0             0               0.25                                     6.5     GILFORD                                        NH                    3249     Single Family
       16635306               0             0               0.25                                    6.75     OCEANSIDE                                      CA                   92054     Single Family
       16635145               0             0               0.25                                   6.375     AMHERST                                        NH                    3031     Single Family
       16635146               0             0               0.25                                   6.625     MANDEVILLE                                     LA                   70448     PUD
       16635147               0             0               0.25                                   6.375     SANTA BARBARA                                  CA                   93110     Single Family
       16635149               0             0               0.25                                     7.5     MEDWAY                                         MA                    2053     Single Family
       16635313               0             0               0.25                                    5.75     MANHATTAN BEACH                                CA                   90266     Single Family
       16635151               0             0               0.25                                    6.75     STUART                                         FL                   34994     PUD
       16635153               0             0               0.25                                   6.375     ENUMCLAW                                       WA                   98022     Single Family
       16635138               0             0               0.25                                     6.5     CONCORD                                        CA                   94521     Single Family
       16635139               0             0               0.25                                   6.625     SAN DIEGO                                      CA                   92129     Single Family
       16635140               0             0               0.25                                    6.25     SAN DIEGO                                      CA                   92131     PUD
       16635141               0             0               0.25                                   6.875     CHULA VISTA                                    CA                   91913     Single Family
       16635120               0             0               0.25                                     6.5     SAN DIEGO                                      CA                   92129     Single Family
       16635121               0             0               0.25                                       6     CHULA VISTA                                    CA                   91915     PUD
       16635123               0             0               0.25                                    6.75     CHICAGO                                        IL                   60616     PUD
       16635124               0             0               0.25                                   6.875     WINDERMERE                                     FL                   34786     Single Family
       16635126               0             0               0.25                                   6.125     SIMI VALLEY                                    CA                   93065     Condominium
       16635128               0             0               0.25                                     6.5     BARRINGTON                                     IL                   60010     Single Family
       16635129               0             0               0.25                                    6.25     HENDERSON                                      NV                   89052     Condominium
       16635132               0             0               0.25                                   6.875     ROSELAND                                       NJ                    7068     Single Family
       16635133               0             0               0.25                                    6.75     GILBERT                                        AZ                   85234     Single Family
       16635135               0             0               0.25                                       7     HENDERSON                                      NV                   89012     PUD
       16635102               0             0               0.25                                   6.625     COLORADO SPRINGS                               CO                   80906     Single Family
       16635103               0             0               0.25                                   6.625     PAUMA VALLEY (AREA)                            CA                   92061     PUD
       16635105               0             0               0.25                                       7     MOUNTAIN HOUSE                                 CA                   95391     Single Family
       16635106               0             0               0.25                                   6.875     SACRAMENTO                                     CA                   95864     Single Family
       16635107               0             0               0.25                                   6.375     ENGLEWOOD CLIFFS                               NJ                    7632     Single Family
       16635110               0             0               0.25                                    6.25     HOLMDEL                                        NJ                    7733     Single Family
       16635112               0             0               0.25                                     6.5     REDMOND                                        WA                   98052     PUD
       16635113               0             0               0.25                                       6     PETALUMA                                       CA                   94952     Single Family
       16635114               0             0               0.25                                   6.625     NICEVILLE                                      FL                   32578     Single Family
       16635116               0             0               0.25                                       7     JUPITER                                        FL                   33458     PUD
       16635118               0             0               0.25                                   6.375     RYE                                            NY                   10580     Single Family
       16635119               0             0               0.25                                   6.375     ESCALON                                        CA                   95320     Single Family
       16634998               0             0               0.25                                    6.75     WESTMINSTER                                    CA                   92683     2-4 Family
       16634986               0             0               0.25                                   6.625     SAN MARCOS                                     CA                   92078     PUD
       16634987               0             0               0.25                                    6.25     LEESBURG                                       VA                   20176     Single Family
       16634990               0             0               0.25                                    6.75     BUCKEYE                                        AZ                   85396     PUD
       16634994               0             0               0.25                                   6.125     AHAHEIM                                        CA                   92808     Single Family
       16634995               0             0               0.25                                   6.875     BERNARDS TOWNSHIP                              NJ                    7920     Single Family
       16634996               0             0               0.25                                    6.75     LIVERMORE                                      CA                   94550     Single Family
       16634975               0             0               0.25                                     6.5     IRVINE                                         CA                   92606     PUD
       16634977               0             0               0.25                                   6.625     ATASCADERO                                     CA                   93422     Single Family
       16634979               0             0               0.25                                     6.5     ERIE                                           CO                   80516     Single Family
       16634980               0             0               0.25                                   6.625     LA QUINTA                                      CA                   92253     Condominium
       16634981               0             0               0.25                                    6.75     LAKE ELSINORE                                  CA                   92530     Single Family
       16634951               0             0               0.25                                     6.5     ONTARIO                                        CA                   91761     Single Family
       16634956               0             0               0.25                                    6.25     LONG BEACH                                     CA                   90808     Single Family
       16634960               0             0               0.25                                   7.375     EL CAJON                                       CA                   92019     Single Family
       16634963               0             0               0.25                                   7.125     ATLANTA                                        GA                   30327     Single Family
       16634964               0             0               0.25                                     6.5     YORBA LINDA                                    CA                   92887     Single Family
       16634965               0             0               0.25                                   6.125     SAUGUS                                         CA                   91350     Single Family
       16634968               0             0               0.25                                     6.5     CARLSBAD                                       CA                   92009     PUD
       16634970               0             0               0.25                                    6.75     SOUTHAVEN                                      MS                   38671     Single Family
       16634971               0             0               0.25                                       7     LOS ANGELES                                    CA                   90035     2-4 Family
       16634935               0             0               0.25                                   6.375     SPARKS                                         NV                   89436     PUD
       16634939               0             0               0.25                                   6.625     MANASSAS                                       VA                   20112     PUD
       16634940               0             0               0.25                                    6.75     HAWTHORN WOODS                                 IL                   60047     PUD
       16634942               0             0               0.25                                    6.75     SEBASTOPOL                                     CA                   95472     Single Family
       16634944               0             0               0.25                                   6.625     REDONDO BEACH                                  CA                   90277     Condominium
       16634946               0             0               0.25                                    6.75     CLIFTON                                        NJ                    7012     Single Family
       16634948               0             0               0.25                                    5.75     NORTH HOLLYWOOD                                CA                   91605     Single Family
       16634949               0             0               0.25                                    6.75     OCEANSIDE                                      CA                   92056     Single Family
       16634950               0             0               0.25                                   6.625     FONTANA                                        CA                   92336     Single Family
       16634904               0             0               0.25                                   6.375     SAN JOSE                                       CA                   95119     PUD
       16634906               0             0               0.25                                       6     CLAYTON                                        CA                   94517     Single Family
       16634914               0             0               0.25                                    5.75     RALEIGH                                        NC                   27614     PUD
       16634917               0             0               0.25                                     6.5     CARBONDALE                                     CO                   81623     PUD
       16634919               0             0               0.25                                    6.75     SPRINGFIELD                                    VA                   22153     PUD
       16634921               0             0               0.25                                   6.625     SCOTTSDALE                                     AZ                   85254     Single Family
       16634922               0             0               0.25                                    6.75     LANSDOWNE                                      VA                   20176     PUD
       16634926               0             0               0.25                                    6.75     LEAWOOD                                        KS                   66211     PUD
       16634929               0             0               0.25                                    6.75     BOZEMAN                                        MT                   59718     Single Family
       16634930               0             0               0.25                                   6.875     LAS VEGAS                                      NV                   89138     Single Family
       16634932               0             0               0.25                                   7.125     EAST HANOVER                                   NJ                    7936     Single Family
       16635185               0             0               0.25                                   6.375     ORANGE                                         CA                   92867     Single Family
       16635186               0             0               0.25                                   6.375     TUSTIN                                         CA                   92780     PUD
       16635188               0             0               0.25                                   6.875     LOS ANGELES                                    CA                   91602     Single Family
       16635191               0             0               0.25                                    6.75     CHATSWORTH                                     CA                   91311     Single Family
       16635192               0             0               0.25                                     6.5     LOS ANGELES                                    CA                   90066     Condominium
       16635193               0             0               0.25                                   6.625     SANTA MONICA                                   CA                   90403     Condominium
       16635194               0             0               0.25                                    6.25     CHULA VISTA                                    CA                   91915     Condominium
       16634900               0             0               0.25                                   6.375     CARLSBAD                                       CA                   92011     Condominium
       16634901               0             0               0.25                                    6.75     SEAL BEACH                                     CA                   90740     PUD
       16635292               0             0               0.25                                    5.75     MANHATTAN BEACH                                CA                   90266     Single Family
       16635293               0             0               0.25                                     6.5     REDONDO BEACH                                  CA                   90277     Condominium
       16635278               0             0               0.25                                    6.75     SAN JOSE                                       CA                   95127     Single Family
       16635271               0             0               0.25                                   6.375     SAN FRANCISCO                                  CA                   94127     Single Family
       16635262               0             0               0.25                                     6.5     LAKE STEVENS                                   WA                   98258     Single Family
       16635263               0             0               0.25                                       6     BOSTON                                         MA                    2116     Condominium
       16635267               0             0               0.25                                   6.125     SMITHTOWN                                      NY                   11787     Single Family
       16635268               0             0               0.25                                    6.25     MEDFORD                                        OR                   97504     Single Family
       16635094               0             0               0.25                                   6.375     RICHMOND                                       VA                   23238     PUD
       16635095               0             0               0.25                                     6.5     IPSWICH                                        MA                    1938     Single Family
       16635258               0             0               0.25                                   6.375     THOUSAND OAKS                                  CA                   91361     Single Family
       16635259               0             0               0.25                                   6.625     NEWPORT BEACH                                  CA                   92660     Condominium
       16635097               0             0               0.25                                   6.875     HINSDALE                                       IL                   60521     Single Family
       16635098               0             0               0.25                                    6.25     CARLSBAD                                       CA                   92011     PUD
       16635260               0             0               0.25                                   5.375     THOUSAND OAKS                                  CA                   91362     PUD
       16635071               0             0               0.25                                   6.625     WOODLAND HILLS                                 CA                   91364     Single Family
       16635234               0             0               0.25                                       6     FRANKLIN                                       MA                    2038     Single Family
       16635072               0             0               0.25                                       6     SAN MARCOS                                     CA                   92069     PUD
       16635073               0             0               0.25                                     6.5     SUNSET                                         SC                   29685     PUD
       16635236               0             0               0.25                                    6.25     BRADENTON                                      FL                   34202     PUD
       16635074               0             0               0.25                                   6.625     VENICE                                         CA                   90291     Single Family
       16635237               0             0               0.25                                   6.375     SAN JOSE                                       CA                   95131     PUD
       16635238               0             0               0.25                                     6.5     POMPANO BEACH                                  FL                   33062     Single Family
       16635076               0             0               0.25                                     6.5     LADERA RANCH                                   CA                   92694     PUD
       16635239               0             0               0.25                                   5.625     ALAMO                                          CA                   94507     Single Family
       16635078               0             0               0.25                                     6.5     FORT LEE                                       NJ                    7024     Condominium
       16635079               0             0               0.25                                   6.625     PARAMUS                                        NJ                    7652     Single Family
       16635240               0             0               0.25                                   6.375     MANHATTAN BEACH                                CA                   90266     Single Family
       16635242               0             0               0.25                                    6.25     CONCORD                                        MA                    1742     Single Family
       16635243               0             0               0.25                                   6.375     WENHAM                                         MA                    1984     Single Family
       16635083               0             0               0.25                                   6.375     HESPERIA                                       CA                   92371     Single Family
       16635085               0             0               0.25                                   6.375     PORTLAND                                       OR                   97225     PUD
       16635248               0             0               0.25                                   6.125     SAN DIEGO                                      CA                   92131     PUD
       16635086               0             0               0.25                                   6.125     RICHMOND                                       CA                   94806     PUD
       16635087               0             0               0.25                                       6     YORBA LINDA                                    CA                   92886     Single Family
       16635088               0             0               0.25                                   6.625     MARINA DEL REY                                 CA                   90292     Condominium
       16635089               0             0               0.25                                   6.625     SHERMAN OAKS                                   CA                   91403     Single Family
       16635250               0             0               0.25                                     6.5     GARDENA                                        CA                   90248     PUD
       16635252               0             0               0.25                                   6.375     RAMONA                                         CA                   92065     Single Family
       16635253               0             0               0.25                                    6.25     SAN RAMON                                      CA                   94583     PUD
       16635254               0             0               0.25                                     6.5     SAN DIEGO                                      CA                   92127     PUD
       16635093               0             0               0.25                                   6.625     CENTRAL POINT                                  OR                   97502     Single Family
       16635231               0             0               0.25                                     6.5     SPARKS                                         NV                   89436     PUD
       16635232               0             0               0.25                                   6.125     ENCINO                                         CA                   91436     Single Family
       16635220               0             0               0.25                                       6     EL CERRITO                                     CA                   94530     Single Family
       16635222               0             0               0.25                                     6.5     LADERA RANCH                                   CA                   92694     PUD
       16635060               0             0               0.25                                   6.375     BERWYN                                         PA                   19312     Single Family
       16635224               0             0               0.25                                   6.875     PALO ALTO                                      CA                   94301     Condominium
       16635062               0             0               0.25                                   6.375     BOULDER CREEK                                  CA                   95006     Single Family
       16635063               0             0               0.25                                    6.75     DALLAS                                         TX                   75205     Single Family
       16635226               0             0               0.25                                    6.75     LARGO                                          FL                   33777     Single Family
       16635227               0             0               0.25                                   6.875     LAS VEGAS                                      NV                   89131     PUD
       16635228               0             0               0.25                                    6.25     LAS VEGAS                                      NV                   89146     Single Family
       16635229               0             0               0.25                                     6.5     CASTAIC                                        CA                   91384     Single Family
       16635067               0             0               0.25                                     6.5     TONEY                                          AL                   35773     Single Family
       16635068               0             0               0.25                                   6.375     BEVERLY HILLS                                  CA                   90210     Single Family
       16639196               0             0               0.25                                   6.125     WALDORF                                        MD                   20603     PUD
       16639197               0             0               0.25                                   6.125     BEL AIR                                        MD                   21015     Single Family
       16639198               0             0               0.25                                    6.75     SAN DIEGO                                      CA                   92116     Single Family
       16639199               0             0               0.25                                     6.5     STERLING                                       VA                   20165     PUD
       16639190               0             0               0.25                                       7     IRVINE                                         CA                   92620     PUD
       16639191               0             0               0.25                                   6.625     DANVILLE                                       CA                   94506     PUD
       16639192               0             0               0.25                                   6.875     CHANDLER                                       AZ                   85248     PUD
       16639193               0             0               0.25                                   6.625     MANHATTAN BEACH                                CA                   90266     Single Family
       16639194               0             0               0.25                                   6.875     RENO                                           NV                   89521     PUD
       16639195               0             0               0.25                                       7     EL MONTE                                       CA                   91732     2-4 Family
       16639309               0             0               0.25                                   6.375     CHULA VISTA                                    CA                   91910     Single Family
       16639311               0             0               0.25                                     6.5     SAN RAMON                                      CA                   94583     Single Family
       16639312               0             0               0.25                                       6     SARATOGA                                       CA                   95070     Single Family
       16639313               0             0               0.25                                   6.625     PASADENA                                       CA                   91104     Single Family
       16639314               0             0               0.25                                    5.75     NAPERVILLE                                     IL                   60540     Single Family
       16639315               0             0               0.25                                   6.125     El Cajon                                       CA                   92021     PUD
       16639316               0             0               0.25                                     6.5     NOKESVILLE                                     VA                   20181     Single Family
       16639317               0             0               0.25                                     6.5     Yorba Linda                                    CA                   92886     PUD
       16639318               0             0               0.25                                       6     CAMPBELL                                       CA                   95008     Single Family
       16639319               0             0               0.25                                    6.75     CORONA                                         CA                   92883     Condominium
       16639320               0             0               0.25                                       7     HIGHLANDS                                      NJ                    7732     Single Family
       16639321               0             0               0.25                                   6.375     WESTMINSTER                                    CA                   92683     Single Family
       16639322               0             0               0.25                                    6.75     DANVILLE                                       CA                   94506     PUD
       16639323               0             0               0.25                                   6.375     LOMA LINDA                                     CA                   92354     Single Family
       16639324               0             0               0.25                                   6.375     LOS ANGELES                                    CA                   90042     PUD
       16639325               0             0               0.25                                     6.5     MISSION VIEJO                                  CA                   92692     Condominium
       16639326               0             0               0.25                                     6.5     EL SEGUNDO                                     CA                   90245     Condominium
       16639327               0             0               0.25                                    6.25     HERMOSA BEACH                                  CA                   90254     Condominium
       16639328               0             0               0.25                                   6.625     WAYNE                                          NJ                    7470     Single Family
       16639329               0             0               0.25                                       6     SPRINGBORO                                     OH                   45066     Single Family
       16639330               0             0               0.25                                     6.5     LAS VEGAS                                      NV                   89134     PUD
       16639331               0             0               0.25                                   7.125     UNIVERSITY PLACE                               WA                   98466     Single Family
       16639178               0             0               0.25                                    6.75     LAS VEGAS                                      NV                   89178     PUD
       16639179               0             0               0.25                                    6.75     MANASSAS                                       VA                   20112     Single Family
       16639180               0             0               0.25                                   6.875     CHINO                                          CA                   91710     Single Family
       16639181               0             0               0.25                                   6.375     BETHESDA                                       MD                   20817     Single Family
       16639182               0             0               0.25                                   6.625     ENCINITAS                                      CA                   92024     PUD
       16639183               0             0               0.25                                    6.75     THOUSAND OAKS                                  CA                   91362     Single Family
       16639184               0             0               0.25                                   7.125     WADSWORTH                                      IL                   60083     PUD
       16639185               0             0               0.25                                   6.875     WARRENTON                                      VA                   20187     Single Family
       16639186               0             0               0.25                                   6.875     MOUNT PLEASANT                                 SC                   29464     PUD
       16639187               0             0               0.25                                   6.125     LEESBURG                                       VA                   20175     PUD
       16639188               0             0               0.25                                    5.75     HILLSBORO                                      OR                   97124     Single Family
       16639189               0             0               0.25                                   6.375     BLACK DIAMOND                                  WA                   98010     Single Family
       16639300               0             0               0.25                                     6.5     OXNARD                                         CA                   93033     Single Family
       16639301               0             0               0.25                                    6.75     Burlingame                                     CA                   94010     Single Family
       16639302               0             0               0.25                                   6.625     THOUSAND OAKS                                  CA                   91362     Single Family
       16639303               0             0               0.25                                    6.25     PASADENA                                       CA                   91104     Single Family
       16639304               0             0               0.25                                     6.5     UPLAND                                         CA                   91784     Single Family
       16639305               0             0               0.25                                   6.625     STERLING                                       VA                   20166     PUD
       16639307               0             0               0.25                                   6.625     Key Largo                                      FL                   33037     PUD
       16639308               0             0               0.25                                    6.25     San Ramon                                      CA                   94582     PUD
       16639294               0             0               0.25                                   6.875     Antioch                                        CA                   94531     Single Family
       16639295               0             0               0.25                                   6.125     CAVE CREEK                                     AZ                   85331     PUD
       16639296               0             0               0.25                                   6.375     Santa Barbara                                  CA                   93108     Single Family
       16639297               0             0               0.25                                     6.5     SAN FRANCISCO                                  CA                   94112     Single Family
       16639298               0             0               0.25                                   6.625     PASADENA                                       CA                   91107     Single Family
       16639299               0             0               0.25                                    6.75     IRVINE                                         CA                   92602     PUD
       16639290               0             0               0.25                                   6.875     Fremont                                        CA                   94536     Single Family
       16639291               0             0               0.25                                    6.25     REDONDO BEACH                                  CA                   90277     Condominium
       16639292               0             0               0.25                                     6.5     MANHATTAN BEACH                                CA                   90266     Single Family
       16639293               0             0               0.25                                   6.125     Granite Bay                                    CA                   95746     PUD
       16639278               0             0               0.25                                    6.75     VAN NUYS                                       CA                   91406     Single Family
       16639279               0             0               0.25                                    6.25     ANAHEIM                                        CA                   92805     Single Family
       16639280               0             0               0.25                                   6.875     SAN RAMON                                      CA                   94582     Single Family
       16639281               0             0               0.25                                     6.5     SAMMAMISH                                      WA                   98075     PUD
       16639282               0             0               0.25                                    6.25     San Jose                                       CA                   95128     Single Family
       16639283               0             0               0.25                                    6.25     RENO                                           NV                   89502     PUD
       16639284               0             0               0.25                                   6.875     Key West                                       FL                   33040     Condominium
       16639285               0             0               0.25                                    6.75     Gainesville                                    VA                   20155     PUD
       16639286               0             0               0.25                                   6.125     Haymarket                                      VA                   20169     PUD
       16639287               0             0               0.25                                   6.125     Riverside                                      CA                   92506     Single Family
       16639288               0             0               0.25                                    6.25     Goleta                                         CA                   93117     Single Family
       16639289               0             0               0.25                                    6.75     THOUSAND OAKS                                  CA                   91320     PUD
       16639268               0             0               0.25                                     6.5     Santa Barbara                                  CA                   93101     Single Family
       16639269               0             0               0.25                                     6.5     Paramus                                        NJ                    7652     Single Family
       16639270               0             0               0.25                                       7     Auburn                                         WA                   98092     Single Family
       16639271               0             0               0.25                                   6.875     Clearwater                                     FL                   33759     PUD
       16639272               0             0               0.25                                   6.625     Edmonds                                        WA                   98026     PUD
       16639273               0             0               0.25                                   6.375     Oxnard                                         CA                   93035     Single Family
       16639274               0             0               0.25                                   6.375     Centreville                                    VA                   20120     PUD
       16639275               0             0               0.25                                     6.5     Redondo Beach                                  CA                   90278     Condominium
       16639276               0             0               0.25                                   6.625     CAREFREE                                       AZ                   85377     PUD
       16639277               0             0               0.25                                    6.25     WILTON                                         CT                    6897     Single Family
       16639244               0             0               0.25                                     6.5     VENICE                                         CA                   90291     Single Family
       16639245               0             0               0.25                                     6.5     San Clemente                                   CA                   92673     PUD
       16639246               0             0               0.25                                   6.875     Pittsburg                                      CA                   94565     Single Family
       16639247               0             0               0.25                                   6.375     Bristow                                        VA                   20136     PUD
       16639248               0             0               0.25                                   6.375     Matthews                                       NC                   28104     PUD
       16639249               0             0               0.25                                    6.25     BEDFORD CORNERS                                NY                   10549     Single Family
       16639250               0             0               0.25                                     6.5     LOS ALAMITOS                                   CA                   90720     Single Family
       16639251               0             0               0.25                                     6.5     Mountain House                                 CA                   95391     Single Family
       16639252               0             0               0.25                                    6.25     Massapequa                                     NY                   11758     Single Family
       16639253               0             0               0.25                                    6.75     Miami                                          FL                   33186     Single Family
       16639254               0             0               0.25                                   6.375     SAN FRANCISCO                                  CA                   94109     Condominium
       16639256               0             0               0.25                                     6.5     PLACENTIA                                      CA                   92870     Single Family
       16639257               0             0               0.25                                   6.625     Los Angeles                                    CA                   90065     Single Family
       16639258               0             0               0.25                                       7     Incline Village                                NV                   89451     Single Family
       16639259               0             0               0.25                                   6.125     Rancho Santa Margarita                         CA                   92688     Condominium
       16639260               0             0               0.25                                     6.5     Toluca Lake                                    CA                   91602     Single Family
       16639261               0             0               0.25                                   6.625     PASADENA                                       CA                   91104     Single Family
       16639262               0             0               0.25                                   6.875     Henderson                                      NV                   89044     PUD
       16639263               0             0               0.25                                   6.125     SAN MARCOS                                     CA                   92078     PUD
       16639264               0             0               0.25                                   6.375     Brookline                                      MA                    2445     Condominium
       16639265               0             0               0.25                                   6.875     ROSWELL                                        GA                   30076     PUD
       16639266               0             0               0.25                                   6.375     Santa Barbara                                  CA                   93101     Single Family
       16639267               0             0               0.25                                     6.5     Santa Barbara                                  CA                   93111     Single Family
       16639228               0             0               0.25                                   6.375     FOLSOM                                         CA                   95630     PUD
       16639229               0             0               0.25                                   6.625     BOSTON                                         MA                    2116     Condominium
       16639230               0             0               0.25                                    6.25     Coronado                                       CA                   92118     Single Family
       16639231               0             0               0.25                                    6.25     Exeter                                         RI                    2822     Single Family
       16639232               0             0               0.25                                    6.75     New York                                       NY                   10021     CO-OP
       16639233               0             0               0.25                                   6.375     Islamorada                                     FL                   33036     Single Family
       16639234               0             0               0.25                                     6.5     OXNARD                                         CA                   93033     Single Family
       16639235               0             0               0.25                                   6.375     LOS ANGELES                                    CA                   90038     Condominium
       16639236               0             0               0.25                                    6.75     MURRIETA                                       CA                   92562     Single Family
       16639237               0             0               0.25                                    6.75     PEPPER PIKE                                    OH                   44124     Single Family
       16639238               0             0               0.25                                     5.5     BOYDS                                          MD                   20841     Single Family
       16639239               0             0               0.25                                     6.5     LA JOLLA                                       CA                   92037     Single Family
       16639240               0             0               0.25                                   6.375     BROOKLINE                                      MA                    2446     Single Family
       16639241               0             0               0.25                                   6.375     Irvine                                         CA                   92603     Condominium
       16639242               0             0               0.25                                   6.625     BLOOMFIELD HILLS                               MI                   48304     Single Family
       16639243               0             0               0.25                                    6.75     Satellite Beach                                FL                   32937     PUD
       16639200               0             0               0.25                                   5.875     SAN RAFAEL                                     CA                   94903     Single Family
       16639201               0             0               0.25                                   6.875     OAKLAND                                        CA                   94605     Single Family
       16639202               0             0               0.25                                    6.75     SAN RAMON                                      CA                   94582     Single Family
       16639203               0             0               0.25                                       7     PHOENIX                                        AZ                   85050     PUD
       16639204               0             0               0.25                                     6.5     VIRGINIA BEACH                                 VA                   23456     Single Family
       16639205               0             0               0.25                                     6.5     MONTEREY                                       CA                   93940     PUD
       16639206               0             0               0.25                                    6.75     WESTON                                         FL                   33332     Condominium
       16639207               0             0               0.25                                   6.625     COSTA MESA                                     CA                   92626     Single Family
       16639208               0             0               0.25                                    6.75     SEWICKLEY                                      PA                   15143     Single Family
       16639209               0             0               0.25                                       6     SAMMAMISH                                      WA                   98075     PUD
       16639210               0             0               0.25                                     6.5     WESTHAMPTON                                    NY                   11977     Condominium
       16639211               0             0               0.25                                   6.875     VIRGINIA BEACH                                 VA                   23456     Single Family
       16639212               0             0               0.25                                   7.375     UNICORPORATED AREA OF LA                       CA                   91214     Single Family
       16639213               0             0               0.25                                   6.375     RIVERSIDE                                      CA                   92505     PUD
       16639214               0             0               0.25                                   6.625     ST LOUIS                                       MO                   63108     Single Family
       16639215               0             0               0.25                                   6.625     ALEXANDRIA                                     VA                   22314     PUD
       16639216               0             0               0.25                                   6.375     SANTA CRUZ                                     CA                   95062     Single Family
       16639217               0             0               0.25                                     6.5     RIVERSIDE                                      CA                   92503     Single Family
       16639218               0             0               0.25                                   7.125     MURRAY                                         UT                   84107     Single Family
       16639219               0             0               0.25                                    6.75     LOS ANGELES                                    CA                   90064     Single Family
       16639220               0             0               0.25                                   6.875     ISSAQUAH                                       WA                   98029     PUD
       16639221               0             0               0.25                                   6.625     DOWNERS GROVE                                  IL                   60516     Single Family
       16639222               0             0               0.25                                       7     BONITA SPRINGS                                 FL                   34135     PUD
       16639223               0             0               0.25                                   6.375     LAKEWOOD                                       CA                   90712     Single Family
       16639224               0             0               0.25                                   4.625     WINCHESTER                                     CA                   92596     Single Family
       16639225               0             0               0.25                                    6.75     LORTON                                         VA                   22079     PUD
       16639226               0             0               0.25                                     6.5     SIMI VALLEY                                    CA                   93065     PUD
       16639227               0             0               0.25                                     6.5     ASPEN                                          CO                   81611     PUD
       16356725            0.58             0              0.375                                   7.625     LAWRENCEVILLE                                  GA                   30043     Single Family
       16356726            0.58             0              0.375                                   7.625     DAHLONEGA                                      GA                   30533     Single Family
       16356727            0.68             0              0.375                                     7.5     COVINGTON                                      GA                   30014     PUD
       16356728            0.48             0              0.375                                    7.25     WEST PALM BEACH                                FL                   33415     PUD
       16356729            0.58             0              0.375                                       7     LAKE MARY                                      FL                   32746     Condominium
       16356730            0.48             0              0.375                                    7.25     DULUTH                                         GA                   30096     Condominium
       16356731               0             0              0.375                                    6.25     PEACHTREE CITY                                 GA                   30269     PUD
       16356732               0             0              0.375                                   8.375     DACULA                                         GA                   30019     PUD
       16356733            0.48             0              0.375                                   6.875     PORT SAINT LUCIE                               FL                   34953     Single Family
       16356734            0.48             0              0.375                                   6.625     ACWORTH                                        GA                   30102     PUD
       16356735               0             0              0.375                                   6.375     CLEARWATER BEACH                               FL                   33767     Condominium
       16356736            0.48             0              0.375                                   7.375     BUFORD                                         GA                   30519     PUD
       16356737            0.48             0              0.375                                    7.75     LAUDERHILL                                     FL                   33313     Condominium
       16356738               0             0              0.375                                       6     AUSTELL                                        GA                   30106     PUD
       16356739            0.48             0              0.375                                     7.5     SMYRNA                                         GA                   30080     2-4 Family
       16356740            0.48             0              0.375                                   7.375     MIRAMAR                                        FL                   33025     Condominium
       16356741               0             0              0.375                                    6.75     CLEARWATER                                     FL                   33767     Condominium
       16356742            0.48             0              0.375                                   7.375     INDIALANTIC                                    FL                   32903     Condominium
       16356743            0.58             0              0.375                                       7     DACULA                                         GA                   30019     PUD
       16356744            0.68             0              0.375                                   7.875     UNION CITY                                     GA                   30291     Single Family
       16356745               0             0              0.375                                     6.5     DAVIE                                          FL                   33325     PUD
       16356746            0.35             0              0.375                                     7.5     DELRAY BEACH                                   FL                   33444     Condominium
       16356747               0             0              0.375                                   6.125     MARIETTA                                       GA                   30064     PUD
       16356748               0             0              0.375                                   6.125     PLANTATION                                     FL                   33324     Single Family
       16356749            0.48             0              0.375                                   7.125     MACCLENNY                                      FL                   32063     Single Family
       16356750               0             0              0.375                                   5.875     AVENTURA                                       FL                   33160     Condominium
       16356751            0.48             0              0.375                                   7.125     LAKE MARY                                      FL                   32746     Condominium
       16356752               0             0              0.375                                       6     LAWRENCEVILLE                                  GA                   30043     PUD
       16356753            0.48             0              0.375                                   7.875     ATLANTA                                        GA                   30326     Condominium
       16356754            0.58             0              0.375                                       7     MCDONOUGH                                      GA                   30253     PUD
       16356755            0.48             0              0.375                                   7.125     TAMPA                                          FL                   33617     Condominium
       16356756            0.48             0              0.375                                       7     DOUGLASVILLE                                   GA                   30134     Single Family
       16356757               0             0              0.375                                    5.75     TAMPA                                          FL                   33569     PUD
       16356758            0.48             0              0.375                                     7.5     CORAL SPRINGS                                  FL                   33065     Condominium
       16356759            0.48             0              0.375                                   7.375     TAMPA                                          FL                   33611     Condominium
       16356760            0.48             0              0.375                                    7.25     RIVERVIEW                                      FL                   33569     PUD
       16356761            0.48             0              0.375                                   7.375     NORCROSS                                       GA                   30071     Condominium
       16356762               0             0              0.375                                   8.125     CLERMONT                                       FL                   34711     PUD
       16356763            0.45             0              0.375                                       7     LAKE WORTH                                     FL                   33463     Condominium
       16356764            0.35             0              0.375                                     6.5     CUMMING                                        GA                   30041     PUD
       16356765            0.48             0              0.375                                     7.5     MIAMI                                          FL                   33186     PUD
       16356766            0.48             0              0.375                                   6.875     PEMBROKE PINES                                 FL                   33025     Condominium
       16356767            0.48             0              0.375                                   7.375     COVINGTON                                      GA                   30014     Single Family
       16356768            0.48             0              0.375                                       7     MARIETTA                                       GA                   30060     Single Family
       16356769               0             0              0.375                                    6.25     CUMMING                                        GA                   30040     PUD
       16356770            0.58             0              0.375                                   7.375     CARTERSVILLE                                   GA                   30120     Single Family
       16356771               0             0              0.375                                    6.25     MIAMI                                          FL                   33176     Condominium
       16356772            0.48             0              0.375                                       7     ALPHARETTA                                     GA                   30022     PUD
       16356773            0.58             0              0.375                                   7.625     CONWAY                                         SC                   29526     PUD
       16356774               0             0              0.375                                   6.125     DALLAS                                         GA                   30157     Single Family
       16356775            0.48             0              0.375                                   6.375     FLOWERY BRANCH                                 GA                   30542     PUD
       16356777            0.58             0              0.375                                    7.25     CLOVER                                         SC                   29710     Single Family
       16356778            0.48             0              0.375                                   7.125     SNELLVILLE                                     GA                   30039     Single Family
       16356779            0.48             0              0.375                                       7     SUWANEE                                        GA                   30024     PUD
       16356780            0.58             0              0.375                                   6.875     LAKE MARY                                      FL                   32746     Condominium
       16356781            0.35             0              0.375                                   7.125     COVINGTON                                      GA                   30014     PUD
       16356782            0.48             0              0.375                                   6.625     BROOKSVILLE                                    FL                   34613     Single Family
       16356783            0.58             0              0.375                                   7.625     ATLANTA                                        GA                   30350     Condominium
       16356784            0.68             0              0.375                                    6.75     JACKSONVILLE                                   FL                   32256     PUD
       16356786               0             0              0.375                                   6.125     MARIETTA                                       GA                   30062     Single Family
       16356787               0             0              0.375                                    6.25     BUFORD                                         GA                   30519     Single Family
       16356788               0             0              0.375                                    6.25     OVIEDO                                         FL                   32766     PUD
       16356789            0.58             0              0.375                                       7     LAKE MARY                                      FL                   32746     Condominium
       16356790            0.48             0              0.375                                     7.5     GOOD HOPE                                      GA                   30641     PUD
       16356791               0             0              0.375                                   6.125     OLDSMAR                                        FL                   34677     PUD
       16356792            0.58             0              0.375                                     7.5     BEAUFORT                                       SC                   29907     Condominium
       16356793            0.48             0              0.375                                    7.25     ATLANTA                                        GA                   30331     Condominium
       16356794            0.64             0              0.375                                   7.625     DAVIE                                          FL                   33328     Condominium
       16356795            0.48             0              0.375                                    6.75     BRANDON                                        FL                   33511     PUD
       16356796            0.58             0              0.375                                   7.375     VALRICO                                        FL                   33594     PUD
       16356797               0             0              0.375                                       6     JACKSONVILLE                                   FL                   32224     Condominium
       16356798            0.36             0              0.375                                   7.125     FORT MYERS                                     FL                   33907     Condominium
       16356799               0             0              0.375                                    5.75     ATLANTA                                        GA                   30339     Condominium
       16356800               0             0              0.375                                       6     ALPHARETTA                                     GA                   30022     PUD
       16356801            0.45             0              0.375                                   6.875     HIRAM                                          GA                   30141     PUD
       16356802            0.58             0              0.375                                   7.375     TAMPA                                          FL                   33618     Condominium
       16356803            0.48             0              0.375                                    7.25     LAWRENCEVILLE                                  GA                   30044     Single Family
       16356804               0             0              0.375                                   7.875     ORLANDO                                        FL                   32824     PUD
       16356805            0.48             0              0.375                                   7.125     ORLANDO                                        FL                   32835     PUD
       16356806            0.26             0              0.375                                   6.875     LAWRENCEVILLE                                  GA                   30043     PUD
       16356807            0.45             0              0.375                                   7.375     FERNANDINA BEACH                               FL                   32034     PUD
       16356808            0.58             0              0.375                                     6.5     JACKSONVILLE                                   FL                   32226     PUD
       16356809            0.58             0              0.375                                    7.25     DAHLONEGA                                      GA                   30533     PUD
       16356810            0.48             0              0.375                                    7.25     LITHONIA                                       GA                   30038     PUD
       16356811            0.26             0              0.375                                       7     PORT CHARLOTTE                                 FL                   33954     PUD
       16356812            0.58             0              0.375                                   7.375     SARASOTA                                       FL                   34243     PUD
       16356813            0.48             0              0.375                                   7.125     CHARLOTTE                                      NC                   28227     Single Family
       16356814               0             0              0.375                                   6.125     ODESSA                                         FL                   33556     PUD
       16356815            0.58             0              0.375                                   7.625     CHARLOTTE                                      NC                   28216     PUD
       16356819            0.58             0              0.375                                       7     KISSIMMEE                                      FL                   34746     PUD
       16356820            0.48             0              0.375                                   7.375     HIALEAH                                        FL                   33015     Condominium
       16356821               0             0              0.375                                    5.75     FLOWERY BRANCH                                 GA                   30542     Single Family
       16356822            0.48             0              0.375                                       8     GAINESVILLE                                    GA                   30507     Single Family
       16356823            0.48             0              0.375                                   7.375     CLERMONT                                       FL                   34711     PUD
       16356824            0.48             0              0.375                                   7.375     NAPLES                                         FL                   34113     PUD
       16356825               0             0              0.375                                       6     WINTER HAVEN                                   FL                   33884     Single Family
       16356826            0.48             0              0.375                                    8.25     COVINGTON                                      GA                   30014     Single Family
       16356827            0.36             0              0.375                                   7.375     MIRAMAR                                        FL                   33025     Condominium
       16356828            0.48             0              0.375                                   7.375     FORT MYERS                                     FL                   33907     Condominium
       16356829            0.48             0              0.375                                    6.75     CANTON                                         GA                   30115     PUD
       16356830               0             0              0.375                                   7.125     HUDSON                                         FL                   34667     PUD
       16356831            0.48             0              0.375                                   7.375     EAST POINT                                     GA                   30344     Single Family
       16356832            0.58             0              0.375                                     7.5     PLANTATION                                     FL                   33322     Condominium
       16356833            0.48             0              0.375                                       7     FORT MYERS                                     FL                   33907     Condominium
       16356834            0.48             0              0.375                                     7.5     LEHIGH ACRES                                   FL                   33936     Single Family
       16356835            0.48             0              0.375                                    7.25     LAKE WORTH                                     FL                   33463     Condominium
       16356836            0.48             0              0.375                                     7.5     VILLA RICA                                     GA                   30180     PUD
       16356837               0             0              0.375                                       6     WINDERMERE                                     FL                   34786     PUD
       16356838               0             0              0.375                                    6.75     POMPANO BEACH                                  FL                   33062     Single Family
       16356839            0.48             0              0.375                                       7     MEBANE                                         NC                   27302     Single Family
       16356840            0.58             0              0.375                                     7.5     TAMPA                                          FL                   33603     Single Family
       16356841            0.48             0              0.375                                     7.5     LOCUST GROVE                                   GA                   30248     PUD
       16356842               0             0              0.375                                   6.125     MIAMI                                          FL                   33016     Single Family
       16356843            0.48             0              0.375                                   6.875     TAMPA                                          FL                   33635     PUD
       16356844            0.48             0              0.375                                   7.375     MONROE                                         GA                   30655     Single Family
       16356845               0             0              0.375                                       6     TAMPA                                          FL                   33624     Condominium
       16356846               0             0              0.375                                   7.875     ATLANTA                                        GA                   30350     Condominium
       16356847               0             0              0.375                                   7.875     ATLANTA                                        GA                   30350     Condominium
       16356848            0.26             0              0.375                                       7     COOPER CITY                                    FL                   33328     Single Family
       16356849            0.48             0              0.375                                    7.25     NORCROSS                                       GA                   30093     Single Family
       16356850            0.58             0              0.375                                     7.5     BOYNTON BEACH                                  FL                   33435     Single Family
       16356851            0.48             0              0.375                                   7.375     JACKSONVILLE                                   FL                   32222     PUD
       16356852               0             0              0.375                                    6.25     ATLANTA                                        GA                   30342     Single Family
       16356853            0.48             0              0.375                                       7     PINELLAS PARK                                  FL                   33782     Single Family
       16356854            0.58             0              0.375                                    7.25     GREEN COVE SPRINGS                             FL                   32043     PUD
       16356855               0             0              0.375                                    7.75     CANTON                                         GA                   30114     PUD
       16356856            0.48             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32244     Single Family
       16356857            0.48             0              0.375                                   7.125     TAMPA                                          FL                   33609     Condominium
       16356858            0.48             0              0.375                                     6.5     PLANTATION                                     FL                   33317     Condominium
       16356859            0.48             0              0.375                                   7.125     BRANDON                                        FL                   33511     Single Family
       16356860            0.48             0              0.375                                     6.5     CHARLOTTE                                      NC                   28270     PUD
       16356861            0.48             0              0.375                                   6.875     ATLANTA                                        GA                   30324     Condominium
       16356862            0.48             0              0.375                                    6.75     ATLANTA                                        GA                   30350     Condominium
       16356863            0.48             0              0.375                                   7.375     ST PETERSBURG                                  FL                   33710     Single Family
       16356864            0.48             0              0.375                                   6.375     PEMBROKE PINES                                 FL                   33024     Single Family
       16356865               0             0              0.375                                     5.5     TAMARAC                                        FL                   33321     PUD
       16356866            0.51             0              0.375                                    7.25     ORANGE PARK                                    FL                   32003     Single Family
       16356867            0.48             0              0.375                                    7.25     ORLANDO                                        FL                   32837     PUD
       16356868            0.58             0              0.375                                    6.75     DALLAS                                         GA                   30157     Single Family
       16356869            0.48             0              0.375                                    7.25     LAWRENCEVILLE                                  GA                   30045     Single Family
       16356870            0.48             0              0.375                                   7.125     FORT LAUDERDALE                                FL                   33312     Single Family
       16356871            0.58             0              0.375                                   7.375     WEST PALM BEACH                                FL                   33411     PUD
       16356872            0.48             0              0.375                                   6.875     KENNESAW                                       GA                   30144     PUD
       16356873               0             0              0.375                                   6.125     CUMMING                                        GA                   30041     PUD
       16356874               0             0              0.375                                    6.75     BRADENTON                                      FL                   34202     Condominium
       16356875            0.48             0              0.375                                     7.5     MIAMI LAKES                                    FL                   33018     Single Family
       16356876            0.58             0              0.375                                   7.125     LARGO                                          FL                   33771     PUD
       16356877            0.48             0              0.375                                   6.875     MARIETTA                                       GA                   30067     Condominium
       16356878               0             0              0.375                                   6.375     SINGER ISLAND                                  FL                   33404     Condominium
       16356879            0.48             0              0.375                                   6.875     CHARLOTTE                                      NC                   28270     PUD
       16356880            0.48             0              0.375                                     6.5     COMER                                          GA                   30629     Single Family
       16356881            0.48             0              0.375                                    7.25     NAPLES                                         FL                   34114     Condominium
       16356882            0.48             0              0.375                                   7.375     LEHIGH ACRES                                   FL                   33936     Single Family
       16356883            0.48             0              0.375                                    6.75     SUWANEE                                        GA                   30024     PUD
       16356884               0             0              0.375                                     8.5     MIRAMAR                                        FL                   33025     Condominium
       16357354               0             0              0.375                                   7.875     DOVER                                          FL                   33527     PUD
       16357355               0             0              0.375                                   6.375     FAYETTEVILLE                                   GA                   30215     Single Family
       16357356               0             0              0.375                                   7.375     ATLANTA                                        GA                   30312     Condominium
       16357357               0             0              0.375                                     8.5     CONCORD                                        NC                   28025     PUD
       16357338               0             0              0.375                                   6.375     LITHIA                                         FL                   33547     PUD
       16357339               0             0              0.375                                   7.375     NORCROSS                                       GA                   30071     Single Family
       16357340            0.48             0              0.375                                    7.25     GRIFFIN                                        GA                   30224     Townhouse
       16357341               0             0              0.375                                   7.125     FORT LAUDERDALE                                FL                   33316     Single Family
       16357342               0             0              0.375                                   6.375     COLLEGE  PARK                                  GA                   30349     PUD
       16357343               0             0              0.375                                    6.75     DALLAS                                         GA                   30157     Single Family
       16357344               0             0              0.375                                    6.75     ATLANTA                                        GA                   30313     Condominium
       16357345            0.48             0              0.375                                   6.875     SNELLVILLE                                     GA                   30078     Single Family
       16357346               0             0              0.375                                    7.25     RIVERVIEW                                      FL                   33569     Condominium
       16357347               0             0              0.375                                    6.75     FT LAUDERDALE                                  FL                   33316     Condominium
       16357348               0             0              0.375                                    6.75     BOCA RATON                                     FL                   33431     PUD
       16357349               0             0              0.375                                   6.375     COCONUT CREEK                                  FL                   33073     Condominium
       16357350               0             0              0.375                                    6.25     DACULA                                         GA                   30019     PUD
       16357351               0             0              0.375                                   7.625     RIVERVIEW                                      FL                   33569     Condominium
       16357352               0             0              0.375                                     7.5     DECATUR                                        GA                   30035     Single Family
       16357353               0             0              0.375                                    8.25     WEST PALM BEACH                                FL                   33412     PUD
       16357304               0             0              0.375                                       7     SARASOTA                                       FL                   34232     Single Family
       16357305               0             0              0.375                                   7.375     RUSKIN                                         FL                   33570     PUD
       16357306               0             0              0.375                                   6.625     MIAMI LAKES                                    FL                   33014     Single Family
       16357307               0             0              0.375                                    6.25     WESTON                                         FL                   33332     Single Family
       16357308               0             0              0.375                                   7.375     LAWRENCEVILLE                                  GA                   30044     PUD
       16357310               0             0              0.375                                   6.375     SARASOTA                                       FL                   34243     PUD
       16357312            0.58             0              0.375                                    7.25     MIRAMAR                                        FL                   33025     PUD
       16357313               0             0              0.375                                    7.25     DORAL                                          FL                   33178     PUD
       16357314            0.48             0              0.375                                     7.5     LAWRENCEVILLE                                  GA                   30044     Single Family
       16357315            0.48             0              0.375                                    7.75     PEMBROKE PINES                                 FL                   33029     PUD
       16357316               0             0              0.375                                   6.625     DULUTH                                         GA                   30097     PUD
       16357317            0.58             0              0.375                                   7.875     HARRISBURG                                     NC                   28075     PUD
       16357318               0             0              0.375                                   8.375     LUTZ                                           FL                   33549     Single Family
       16357319               0             0              0.375                                     7.5     RIVERVIEW                                      FL                   33569     PUD
       16357320               0             0              0.375                                   7.125     COLLEGE PARK                                   GA                   30349     PUD
       16357321               0             0              0.375                                   8.625     BOCA RATON                                     FL                   33431     PUD
       16357322               0             0              0.375                                    7.75     CANTON                                         GA                   30115     Single Family
       16357323               0             0              0.375                                   6.375     SMYRNA                                         GA                   30080     Single Family
       16357324               0             0              0.375                                    7.75     KISSIMMEE                                      FL                   34744     Single Family
       16357325            0.58             0              0.375                                    7.75     POMPANO BEACH                                  FL                   33064     Single Family
       16357326               0             0              0.375                                   5.625     MIRAMAR                                        FL                   33025     Condominium
       16357327               0             0              0.375                                   6.625     CUMMING                                        GA                   30040     Single Family
       16357329               0             0              0.375                                   8.625     LILBURN                                        GA                   30047     Single Family
       16357330            0.51             0              0.375                                    7.75     CHARLOTTE                                      NC                   28211     Single Family
       16357332               0             0              0.375                                   6.625     MARIETTA                                       GA                   30064     PUD
       16357333               0             0              0.375                                    7.75     LAND O' LAKES                                  FL                   34638     PUD
       16357334               0             0              0.375                                       7     COLLEGE PARK                                   GA                   30349     PUD
       16357335               0             0              0.375                                   8.125     PONTE VEDRA BEACH                              FL                   32080     Condominium
       16357336               0             0              0.375                                     6.5     HIRAM                                          GA                   30141     PUD
       16357337               0             0              0.375                                    6.25     BIG CANOE                                      GA                   30143     PUD
       16357263               0             0              0.375                                    6.75     BUFORD                                         GA                   30518     Single Family
       16357264               0             0              0.375                                   6.875     ATLANTA                                        GA                   30312     Condominium
       16357265               0             0              0.375                                   8.375     HOMESTEAD                                      FL                   33033     PUD
       16357266               0             0              0.375                                   7.125     TEQUESTA                                       FL                   33469     Condominium
       16357267               0             0              0.375                                       8     MARIETTA                                       GA                   30067     Single Family
       16357268               0             0              0.375                                   6.875     COLLEGE PARK                                   GA                   30349     PUD
       16357269               0             0              0.375                                    6.25     ORANGE PARK                                    FL                   32003     PUD
       16357270               0             0              0.375                                     7.5     FORT MYERS                                     FL                   33912     Condominium
       16357271               0             0              0.375                                   6.625     CELEBRATION                                    FL                   34747     PUD
       16357273            0.48             0              0.375                                    6.75     WOODSTOCK                                      GA                   30189     PUD
       16357274               0             0              0.375                                       6     WOODSTOCK                                      GA                   30189     PUD
       16357275            0.68             0              0.375                                   7.625     DALLAS                                         GA                   30157     Single Family
       16357276            0.48             0              0.375                                   6.875     ATLANTA                                        GA                   30327     Condominium
       16357277               0             0              0.375                                   7.125     HOLLYWOOD                                      FL                   33020     Condominium
       16357278               0             0              0.375                                     7.5     LAKE WORTH                                     FL                   33463     Condominium
       16357279            0.48             0              0.375                                   7.125     WILLIAMSON                                     GA                   30292     Single Family
       16357280               0             0              0.375                                   6.875     PALM CITY                                      FL                   34990     PUD
       16357281            0.48             0              0.375                                   6.625     MCDONOUGH                                      GA                   30252     PUD
       16357283            0.58             0              0.375                                     7.5     LITHONIA                                       GA                   30038     Single Family
       16357284               0             0              0.375                                   6.375     LOCUST GROVE                                   GA                   30248     Single Family
       16357285               0             0              0.375                                    6.75     CANTON                                         GA                   30114     PUD
       16357286               0             0              0.375                                   6.625     CUMMING                                        GA                   30040     PUD
       16357287               0             0              0.375                                   7.625     NORCROSS                                       GA                   30071     Single Family
       16357288               0             0              0.375                                     6.5     UNIVERSITY PARK                                FL                   34201     PUD
       16357289            0.48             0              0.375                                   7.625     WESLEY CHAPEL                                  FL                   33544     PUD
       16357290               0             0              0.375                                   7.875     DURHAM                                         NC                   27704     PUD
       16357292               0             0              0.375                                     6.5     DAVIE                                          FL                   33325     PUD
       16357293               0             0              0.375                                       7     CHARLOTTE                                      NC                   28210     Condominium
       16357294               0             0              0.375                                   7.375     CANTON                                         GA                   30115     Single Family
       16357295               0             0              0.375                                    6.75     ALPHARETTA                                     GA                   30022     PUD
       16357296               0             0              0.375                                     6.5     DECATUR                                        GA                   30030     Single Family
       16357297               0             0              0.375                                    8.25     CANTON                                         GA                   30114     PUD
       16357298            0.48             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32217     Single Family
       16357299            0.48             0              0.375                                    7.25     DACULA                                         GA                   30019     PUD
       16357300               0             0              0.375                                    6.75     DUNEDIN                                        FL                   34698     PUD
       16357301               0             0              0.375                                       8     STOCKBRIDGE                                    GA                   30281     Single Family
       16357302            0.48             0              0.375                                   7.375     ORLANDO                                        FL                   32817     Single Family
       16357303            0.48             0              0.375                                   6.875     DECATUR                                        GA                   30034     Single Family
       16357252               0             0              0.375                                    6.75     ESTERO                                         FL                   33928     Condominium
       16357253               0             0              0.375                                   6.125     DAVIE                                          FL                   33330     PUD
       16357254               0             0              0.375                                   6.625     ORANGE PARK                                    FL                   32073     PUD
       16357255            0.58             0              0.375                                    7.75     DELRAY BEACH                                   FL                   33444     Condominium
       16357256            0.58             0              0.375                                   7.875     CHARLOTTE                                      NC                   28216     PUD
       16357257               0             0              0.375                                   6.875     WESTON                                         FL                   33327     PUD
       16357258               0             0              0.375                                       7     RIVERDALE                                      GA                   30296     PUD
       16357259               0             0              0.375                                   6.375     AVONDALE ESTATES                               GA                   30002     Single Family
       16357260               0             0              0.375                                    6.75     DOUGLASVILLE                                   GA                   30135     PUD
       16357261               0             0              0.375                                   7.125     STOCKBRIDGE                                    GA                   30281     Single Family
       16357232            0.48             0              0.375                                   7.625     TAYLORS                                        SC                   29687     PUD
       16357233               0             0              0.375                                    7.75     VALRICO                                        FL                   33594     PUD
       16357234               0             0              0.375                                    6.75     SEMINOLE                                       FL                   33776     Single Family
       16357235               0             0              0.375                                    7.75     DUCK KEY                                       FL                   33050     PUD
       16357236               0             0              0.375                                    7.75     CHARLOTTE                                      NC                   28269     PUD
       16357237               0             0              0.375                                   5.875     ODESSA                                         FL                   33556     PUD
       16357238               0             0              0.375                                       7     HALLANDALE                                     FL                   33009     Condominium
       16357239               0             0              0.375                                   6.875     ATHENS                                         GA                   30605     PUD
       16357240            0.48             0              0.375                                   6.375     ATHENS                                         GA                   30605     Single Family
       16357241            0.48             0              0.375                                   7.375     LOGANVILLE                                     GA                   30052     Single Family
       16357242               0             0              0.375                                   6.125     SUWANEE                                        GA                   30024     PUD
       16357243               0             0              0.375                                       8     ATHENS                                         GA                   30605     PUD
       16357244            0.58             0              0.375                                   7.625     MONROE                                         GA                   30656     Single Family
       16357245            0.48             0              0.375                                    7.75     MIAMI                                          FL                   33186     Condominium
       16357246            0.48             0              0.375                                   7.625     DEERFIELD BEACH                                FL                   33441     Single Family
       16357247               0             0              0.375                                    8.25     CONYERS                                        GA                   30012     Single Family
       16357248               0             0              0.375                                       7     BOCA RATON                                     FL                   33496     Condominium
       16357249               0             0              0.375                                   6.875     TAMPA                                          FL                   33635     PUD
       16357250               0             0              0.375                                   6.875     PEMBROKE PINES                                 FL                   33024     Condominium
       16357251               0             0              0.375                                   7.375     COVINGTON                                      GA                   30018     Single Family
       16357212               0             0              0.375                                     7.5     ORLANDO                                        FL                   32811     Condominium
       16357213            0.45             0              0.375                                       7     ATLANTA                                        GA                   30312     Condominium
       16357214               0             0              0.375                                       7     SURFSIDE                                       FL                   33154     Condominium
       16357215               0             0              0.375                                   7.125     TAMARAC                                        FL                   33321     PUD
       16357216            0.48             0              0.375                                       8     MARIETTA                                       GA                   30060     Single Family
       16357217               0             0              0.375                                       7     DALLAS                                         GA                   30157     PUD
       16357218               0             0              0.375                                     6.5     DAVIE                                          FL                   33328     Single Family
       16357219            0.36             0              0.375                                   7.375     NAPLES                                         FL                   34105     Condominium
       16357220            0.48             0              0.375                                   6.875     HUNTERSVILLE                                   NC                   28078     PUD
       16357221            0.35             0              0.375                                   6.875     CONCORD                                        NC                   28025     PUD
       16357222               0             0              0.375                                     7.5     JACKSON                                        GA                   30233     PUD
       16357223               0             0              0.375                                    7.75     SNELLVILLE                                     GA                   30039     Single Family
       16357224               0             0              0.375                                   6.375     MARIETTA                                       GA                   30068     PUD
       16357225            0.35             0              0.375                                    6.75     CHARLOTTE                                      NC                   28210     Single Family
       16357226            0.58             0              0.375                                     7.5     ATLANTA                                        GA                   30315     Condominium
       16357227               0             0              0.375                                   6.125     CHARLOTTE                                      NC                   28273     PUD
       16357228               0             0              0.375                                   6.875     ATLANTA                                        GA                   30324     Single Family
       16357229               0             0              0.375                                   6.625     PALMETTO                                       FL                   34221     Single Family
       16357230            0.48             0              0.375                                   7.125     SNELLVILLE                                     GA                   30039     Single Family
       16357231               0             0              0.375                                    7.75     SMYRNA                                         GA                   30082     Single Family
       16357643               0             0              0.375                                    7.25     LAWRENCEVILLE                                  GA                   30044     Single Family
       16357644               0             0              0.375                                     6.5     WESLEY CHAPEL                                  FL                   33543     PUD
       16357645               0             0              0.375                                   7.375     ORLANDO                                        FL                   32835     Single Family
       16357646               0             0              0.375                                    6.25     ALPHARETTA                                     GA                   30004     PUD
       16357647               0             0              0.375                                   6.375     AUBURN                                         GA                   30011     PUD
       16357648            0.48             0              0.375                                    7.75     ALPHARETTA                                     GA                   30022     PUD
       16357649               0             0              0.375                                   8.625     LAKE MARY                                      FL                   32746     Condominium
       16357650               0             0              0.375                                       7     APOPKA                                         FL                   32712     PUD
       16357651               0             0              0.375                                   7.125     TAMPA                                          FL                   33629     Single Family
       16357652               0             0              0.375                                   7.125     TAMPA                                          FL                   33629     Single Family
       16357653               0             0              0.375                                   6.375     ST PETERSBURG                                  FL                   33703     Single Family
       16357655               0             0              0.375                                   6.875     TARPON SPRINGS                                 FL                   34688     PUD
       16357656               0             0              0.375                                   6.625     FERNANDINA BEACH                               FL                   32034     Single Family
       16357657               0             0              0.375                                   6.875     DECATUR                                        GA                   30032     Single Family
       16357658               0             0              0.375                                    6.75     TAMPA                                          FL                   33602     PUD
       16357659               0             0              0.375                                   6.875     NEW SMYRNA BEACH                               FL                   32169     Condominium
       16357660               0             0              0.375                                   6.375     PALM BEACH GARDENS                             FL                   33418     Condominium
       16357661               0             0              0.375                                   6.875     WOODSTOCK                                      GA                   30189     PUD
       16357663               0             0              0.375                                    7.75     LAWRENCEVILLE                                  GA                   30045     PUD
       16357664               0             0              0.375                                       6     OXFORD                                         FL                   34484     Condominium
       16357665               0             0              0.375                                   6.125     NEW SMYRNA BEACH                               FL                   32169     Single Family
       16357666               0             0              0.375                                   7.625     BUFORD                                         GA                   30519     PUD
       16357667               0             0              0.375                                     7.5     LAKE WORTH                                     FL                   33467     PUD
       16357668               0             0              0.375                                    8.25     DACULA                                         GA                   30019     PUD
       16357669               0             0              0.375                                    6.25     TAMPA                                          FL                   33611     Condominium
       16357670               0             0              0.375                                   7.125     WINTER GARDEN                                  FL                   34787     PUD
       16357671               0             0              0.375                                   7.375     CLERMONT                                       FL                   34711     PUD
       16357672               0             0              0.375                                   6.375     CORAL SPRINGS                                  FL                   33071     PUD
       16357673               0             0              0.375                                    6.75     JACKSONVILLE                                   FL                   32246     Condominium
       16357674               0             0              0.375                                    6.25     CHARLOTTE                                      NC                   28210     Single Family
       16357675               0             0              0.375                                   6.125     LITHIA                                         FL                   33547     PUD
       16357676               0             0              0.375                                   6.375     COLLEGE  PARK                                  GA                   30349     PUD
       16357677               0             0              0.375                                    7.75     ACWORTH                                        GA                   30101     Single Family
       16357678               0             0              0.375                                   6.625     SARASOTA                                       FL                   34243     PUD
       16357679               0             0              0.375                                    7.25     WESLEY CHAPEL                                  FL                   33544     PUD
       16357680               0             0              0.375                                    7.25     TAMPA                                          FL                   33615     Single Family
       16357623               0             0              0.375                                   6.875     ROSWELL                                        GA                   30076     PUD
       16357624               0             0              0.375                                     8.5     WOODSTOCK                                      GA                   30188     PUD
       16357625            0.48             0              0.375                                    7.25     AUSTELL                                        GA                   30106     PUD
       16357626            0.35             0              0.375                                     7.5     ATLANTA                                        GA                   30312     Single Family
       16357627               0             0              0.375                                   6.625     SUWANEE                                        GA                   30024     PUD
       16357628               0             0              0.375                                    7.75     DACULA                                         GA                   30019     PUD
       16357629               0             0              0.375                                   7.375     CUMMING                                        GA                   30040     PUD
       16357630               0             0              0.375                                    8.25     MARIETTA                                       GA                   30060     Single Family
       16357631            0.48             0              0.375                                     7.5     LOGANVILLE                                     GA                   30052     Single Family
       16357632            0.48             0              0.375                                     7.5     LUTZ                                           FL                   33549     Single Family
       16357633               0             0              0.375                                    6.25     LAWRENCEVILLE                                  GA                   30043     Condominium
       16357634               0             0              0.375                                   7.125     BRANDON                                        FL                   33511     PUD
       16357635               0             0              0.375                                     7.5     AVONDALE ESTATES                               GA                   30002     Condominium
       16357636               0             0              0.375                                   6.125     SMYRNA                                         GA                   30080     PUD
       16357637               0             0              0.375                                       7     LAWRENCEVILLE                                  GA                   30043     Single Family
       16357638               0             0              0.375                                   6.125     ATLANTA                                        GA                   30331     PUD
       16357639               0             0              0.375                                    7.25     WINTERVILLE                                    GA                   30683     Single Family
       16357640               0             0              0.375                                    7.75     DAHLONEGA                                      GA                   30533     Single Family
       16357641               0             0              0.375                                   7.875     RUSKIN                                         FL                   33570     PUD
       16357642            0.58             0              0.375                                    7.75     WINDER                                         GA                   30680     Single Family
       16357583               0             0              0.375                                   6.375     SUNRISE                                        FL                   33351     PUD
       16357584               0             0              0.375                                     6.5     ALTANTA                                        GA                   30305     Condominium
       16357585               0             0              0.375                                   6.375     CUMMING                                        GA                   30040     PUD
       16357587               0             0              0.375                                   6.125     ATLANTA                                        GA                   30319     PUD
       16357588               0             0              0.375                                     6.5     CHARLOTTE                                      NC                   28211     PUD
       16357590               0             0              0.375                                   6.625     TAMPA                                          FL                   33602     Condominium
       16357591            0.36             0              0.375                                   7.875     JEFFERSON CITY                                 TN                   37760     Single Family
       16357592            0.51             0              0.375                                     7.5     CUMMING                                        GA                   30041     Single Family
       16357593            0.58             0              0.375                                   7.875     MABLETON                                       GA                   30126     PUD
       16357594               0             0              0.375                                    6.75     VALRICO                                        FL                   33594     PUD
       16357595               0             0              0.375                                    6.25     TAMPA                                          FL                   33617     Single Family
       16357596               0             0              0.375                                       6     OLDSMAR                                        FL                   34677     PUD
       16357597               0             0              0.375                                   6.875     OXFORD                                         GA                   30054     Single Family
       16357599               0             0              0.375                                   6.125     DULUTH                                         GA                   30097     PUD
       16357600            0.48             0              0.375                                   7.625     GRAYSON                                        GA                   30017     PUD
       16357601            0.48             0              0.375                                    7.25     CANTON                                         GA                   30115     PUD
       16357602               0             0              0.375                                   7.125     SNELLVILLE                                     GA                   30039     PUD
       16357603            0.48             0              0.375                                    7.25     SARASOTA                                       FL                   34202     Condominium
       16357604            0.35             0              0.375                                   7.375     STOCKBRIDGE                                    GA                   30281     PUD
       16357605            0.48             0              0.375                                   7.375     CLEARWATER                                     FL                   33759     Single Family
       16357606               0             0              0.375                                   6.875     BRADENTON                                      FL                   34202     Condominium
       16357607               0             0              0.375                                   6.375     WINTER GARDEN                                  FL                   34787     PUD
       16357608               0             0              0.375                                    7.25     ORLANDO                                        FL                   32826     Single Family
       16357609               0             0              0.375                                       7     LAKE MARY                                      FL                   32746     Condominium
       16357610               0             0              0.375                                    6.75     ATHENS                                         GA                   30605     Single Family
       16357611               0             0              0.375                                   7.125     FORTSON                                        GA                   31808     Single Family
       16357612               0             0              0.375                                   6.875     POWDER SPRINGS                                 GA                   30127     PUD
       16357613               0             0              0.375                                    6.25     PALM BEACH GARDENS                             FL                   33418     Condominium
       16357614               0             0              0.375                                   7.875     OCOEE                                          FL                   34761     PUD
       16357616               0             0              0.375                                   6.625     MERRITT ISLAND                                 FL                   32952     PUD
       16357617            0.48             0              0.375                                   7.375     VILLA RICA                                     GA                   30180     PUD
       16357618            0.48             0              0.375                                   6.625     CUMMING                                        GA                   30040     PUD
       16357619            0.48             0              0.375                                   7.125     LAWRENCEVILLE                                  GA                   30044     PUD
       16357620            0.45             0              0.375                                   7.625     BRADENTON                                      FL                   34202     Condominium
       16357621               0             0              0.375                                   7.375     DRIVE   JACKSONVILLE                           FL                   32258     PUD
       16357622               0             0              0.375                                   7.125     HULL                                           GA                   30646     Single Family
       16357581               0             0              0.375                                   6.875     ROYSTON                                        GA                   30662     Single Family
       16357582               0             0              0.375                                     6.5     TAMARAC                                        FL                   33321     PUD
       16357579               0             0              0.375                                   6.375     LAKE WORTH                                     FL                   33467     PUD
       16357577               0             0              0.375                                       7     CLOVER                                         SC                   29710     Condominium
       16357578               0             0              0.375                                       6     CHARLOTTE                                      NC                   28278     PUD
       16357571               0             0              0.375                                    7.25     HAMPTON                                        GA                   30228     PUD
       16357572               0             0              0.375                                   6.625     FAYETTEVILLE                                   GA                   30214     Single Family
       16357573               0             0              0.375                                   6.125     ATLANTA                                        GA                   30308     Condominium
       16357574            0.58             0              0.375                                     7.5     CANTON                                         GA                   30115     PUD
       16357575               0             0              0.375                                     6.5     PALM HARBOR                                    FL                   34685     PUD
       16357576            0.58             0              0.375                                   7.875     DALLAS                                         GA                   30132     Single Family
       16357567               0             0              0.375                                   6.875     SANTA ROSA BEACH                               FL                   32459     PUD
       16357568               0             0              0.375                                   6.375     CUMMING                                        GA                   30040     PUD
       16357569               0             0              0.375                                     6.5     CLOVER                                         SC                   29710     Single Family
       16357570            0.36             0              0.375                                     7.5     DELRAY BEACH                                   FL                   33444     Condominium
       16357561            0.48             0              0.375                                   7.375     DECATUR                                        GA                   30030     Single Family
       16357562               0             0              0.375                                   6.125     DUNWOODY                                       GA                   30338     PUD
       16357563            0.48             0              0.375                                   7.375     BREMEN                                         GA                   30110     Single Family
       16357564               0             0              0.375                                   6.875     MATTHEWS                                       NC                   28105     PUD
       16357565            0.48             0              0.375                                       7     ODESSA                                         FL                   33556     PUD
       16357566            0.58             0              0.375                                   7.625     NEWNAN                                         GA                   30263     PUD
       16357549            0.48             0              0.375                                     7.5     LOCUST GROVE                                   GA                   30248     Single Family
       16357550               0             0              0.375                                   7.375     CLARKSTON                                      GA                   30021     Single Family
       16357551               0             0              0.375                                    6.75     ORLANDO                                        FL                   32819     PUD
       16357552               0             0              0.375                                    6.25     MABLETON                                       GA                   30126     PUD
       16357553            0.58             0              0.375                                    7.75     MARIETTA                                       GA                   30064     Condominium
       16357554            0.48             0              0.375                                   7.125     BUFORD                                         GA                   30519     Single Family
       16357555               0             0              0.375                                   6.125     WESTON                                         FL                   33326     Single Family
       16357556               0             0              0.375                                   6.625     BOYNTON BEACH                                  FL                   33437     PUD
       16357557               0             0              0.375                                    5.75     JACKSONVILLE                                   FL                   32210     Single Family
       16357558            0.58             0              0.375                                    7.75     ALPHARETTA                                     GA                   30022     PUD
       16357559               0             0              0.375                                   6.125     FRIPP ISLAND                                   SC                   29920     PUD
       16357560               0             0              0.375                                   7.875     TAMPA                                          FL                   33624     PUD
       16357543               0             0              0.375                                   6.375     TALLAHASSEE                                    FL                   32317     PUD
       16357544            0.58             0              0.375                                   7.375     PEACHTREE CITY                                 GA                   30269     Single Family
       16357545               0             0              0.375                                       7     ALPHARETTA                                     GA                   30004     PUD
       16357546               0             0              0.375                                     6.5     KENNESAW                                       GA                   30152     PUD
       16357547            0.48             0              0.375                                   7.375     LAKELAND                                       FL                   33809     PUD
       16357548               0             0              0.375                                       6     FERNANDINA BEACH                               FL                   32034     PUD
       16357539            0.35             0              0.375                                   6.625     DELRAY BEACH                                   FL                   33446     PUD
       16357540               0             0              0.375                                     6.5     CORAL SPRINGS                                  FL                   33071     PUD
       16357541               0             0              0.375                                   6.875     JACKSONVILLE                                   FL                   32225     PUD
       16357542            0.58             0              0.375                                   7.125     WINTERVILLE                                    GA                   30683     Single Family
       16357535               0             0              0.375                                   6.625     GAINESVILLE                                    GA                   30506     Single Family
       16357536            0.58             0              0.375                                   6.375     ST PETERSBURG                                  FL                   33712     Condominium
       16357537               0             0              0.375                                   6.625     WINTER PARK                                    FL                   32789     Single Family
       16357538               0             0              0.375                                   6.125     ORLANDO                                        FL                   32837     PUD
       16357531            0.58             0              0.375                                       7     ST PETERSBURG                                  FL                   33711     Condominium
       16357532               0             0              0.375                                       6     MOORESVILLE                                    NC                   28115     PUD
       16357533               0             0              0.375                                    6.25     SUNNY ISLES BEACH                              FL                   33160     Condominium
       16357534               0             0              0.375                                   6.125     SEMINOLE                                       FL                   33772     Single Family
       16357500            0.48             0              0.375                                     7.5     TAMPA                                          FL                   33610     Single Family
       16357501               0             0              0.375                                    6.25     TAMPA                                          FL                   33611     Single Family
       16357502            0.58             0              0.375                                     7.5     TAMPA                                          FL                   33624     Condominium
       16357503            0.58             0              0.375                                     7.5     TAMPA                                          FL                   33624     Condominium
       16357504            0.48             0              0.375                                     7.5     WARNER ROBBINS                                 GA                   31088     Single Family
       16357505            0.48             0              0.375                                     6.5     LOGANVILLE                                     GA                   30052     PUD
       16357506            0.48             0              0.375                                   7.375     TAMPA                                          FL                   33611     Condominium
       16357507            0.48             0              0.375                                   7.375     GREENACRES                                     FL                   33415     Condominium
       16357508               0             0              0.375                                       6     BRASELTON                                      GA                   30517     PUD
       16357509            0.48             0              0.375                                   7.125     CARROLLTON                                     GA                   30116     Single Family
       16357510            0.51             0              0.375                                   7.375     HIRAM                                          GA                   30141     PUD
       16357511            0.48             0              0.375                                    7.25     ATLANTA                                        GA                   30315     Single Family
       16357512               0             0              0.375                                   6.125     LAKE WYLIE                                     SC                   29710     PUD
       16357513            0.64             0              0.375                                   7.375     DECATUR                                        GA                   30032     Single Family
       16357514               0             0              0.375                                    6.25     ISLE OF PALMS                                  SC                   29451     Condominium
       16357515            0.58             0              0.375                                   6.875     ACWORTH                                        GA                   30102     PUD
       16357516               0             0              0.375                                   6.125     TAMPA                                          FL                   33647     PUD
       16357517            0.58             0              0.375                                    6.25     HOLLYWOOD                                      FL                   33021     PUD
       16357518            0.48             0              0.375                                     7.5     NORCROSS                                       GA                   30092     Single Family
       16357519            0.48             0              0.375                                   7.375     NEWNAN                                         GA                   30265     PUD
       16357520               0             0              0.375                                   6.625     ATLANTA                                        GA                   30319     Single Family
       16357521            0.35             0              0.375                                   6.875     DACULA                                         GA                   30019     PUD
       16357522               0             0              0.375                                   5.875     SEA CREST BEACH                                FL                   32459     Condominium
       16357523               0             0              0.375                                   6.625     SANFORD                                        FL                   32771     PUD
       16357524            0.48             0              0.375                                    7.25     BUFORD                                         GA                   30519     Single Family
       16357525            0.58             0              0.375                                   7.625     MIRAMAR                                        FL                   33025     Condominium
       16357526               0             0              0.375                                    6.75     OAKLAND                                        FL                   34760     PUD
       16357527               0             0              0.375                                     8.5     MONROE                                         GA                   30655     Single Family
       16357528            0.48             0              0.375                                    7.25     ORLANDO                                        FL                   32811     Condominium
       16357529               0             0              0.375                                   6.375     ORANGE PARK                                    FL                   32003     PUD
       16357530            0.48             0              0.375                                    7.25     COCONUT CREEK                                  FL                   33073     Condominium
       16357152               0             0              0.375                                   5.875     CHARLOTTE                                      NC                   28270     PUD
       16357153               0             0              0.375                                     8.5     COVINGTON                                      GA                   30014     PUD
       16357154            0.48             0              0.375                                       7     CUMMING                                        GA                   30040     PUD
       16357155            0.48             0              0.375                                    7.75     NAPLES                                         FL                   34104     PUD
       16357156            0.48             0              0.375                                   7.625     LUTZ                                           FL                   33548     Single Family
       16357157               0             0              0.375                                   7.625     CHARLOTTE                                      NC                   28262     Condominium
       16357158            0.48             0              0.375                                       7     LAWRENCVILLE                                   GA                   30045     Single Family
       16357159            0.58             0              0.375                                    7.75     LARGO                                          FL                   33774     Single Family
       16357160            0.48             0              0.375                                     7.5     SNELLVILLE                                     GA                   30078     PUD
       16357161               0             0              0.375                                   8.625     WEST PALM BEACH                                FL                   33415     PUD
       16357162               0             0              0.375                                   6.125     APOPKA                                         FL                   32703     PUD
       16357163            0.48             0              0.375                                   7.375     NORCROSS                                       GA                   30071     Condominium
       16357164            0.48             0              0.375                                    6.75     PLANT CITY                                     FL                   33563     PUD
       16357166               0             0              0.375                                     7.5     WEST PALM BEACH                                FL                   33411     Condominium
       16357167            0.48             0              0.375                                     7.5     SUWANEE                                        GA                   30024     PUD
       16357168               0             0              0.375                                   6.875     WINTER PARK                                    FL                   32792     PUD
       16357169            0.58             0              0.375                                       7     DAYTONA BEACH                                  FL                   32119     Condominium
       16357170            0.48             0              0.375                                    7.25     VALRICO                                        FL                   33594     PUD
       16357171            0.45             0              0.375                                   7.625     NOKOMIS                                        FL                   34275     Condominium
       16357172               0             0              0.375                                    7.25     ALPHARETTA                                     GA                   30022     PUD
       16357173               0             0              0.375                                    6.25     TYRONE                                         GA                   30290     Single Family
       16357174            0.58             0              0.375                                   7.875     ATLANTA                                        GA                   30331     Condominium
       16357175               0             0              0.375                                   8.375     STONE MOUNTAIN                                 GA                   30088     Single Family
       16357176               0             0              0.375                                   6.875     WEST PALM BEACH                                FL                   33411     Condominium
       16357177               0             0              0.375                                   8.125     UNION CITY                                     GA                   30291     PUD
       16357178               0             0              0.375                                   8.125     UNION CITY                                     GA                   30291     PUD
       16357179            0.48             0              0.375                                   7.125     LAKELAND                                       FL                   33803     Condominium
       16357180               0             0              0.375                                   6.875     MIAMI                                          FL                   33176     Single Family
       16357181               0             0              0.375                                   6.875     WESLEY CHAPEL                                  FL                   33544     PUD
       16357183               0             0              0.375                                   7.375     HOMESTEAD                                      FL                   33035     PUD
       16357184               0             0              0.375                                       7     SAFETY HARBOR                                  FL                   34695     Single Family
       16357185               0             0              0.375                                    6.75     WINTER PARK                                    FL                   32789     Single Family
       16357186            0.58             0              0.375                                   7.625     BRADENTON                                      FL                   34202     Condominium
       16357187               0             0              0.375                                    6.75     TAMPA                                          FL                   33611     Single Family
       16357188            0.48             0              0.375                                    7.25     MARIETTA                                       GA                   30066     PUD
       16357189            0.48             0              0.375                                    7.75     TAMPA                                          FL                   33624     Condominium
       16357190               0             0              0.375                                   7.125     ATLANTA                                        GA                   30328     Single Family
       16357191            0.58             0              0.375                                   7.375     LAKE MARY                                      FL                   32746     Condominium
       16357192               0             0              0.375                                   7.125     GRAYSON                                        GA                   30017     PUD
       16357193            0.48             0              0.375                                   7.125     DOVER                                          FL                   33527     Single Family
       16357194               0             0              0.375                                   7.375     CHARLOTTE                                      NC                   28214     Single Family
       16357195               0             0              0.375                                   6.875     LAKE WORTH                                     FL                   33463     Condominium
       16357196               0             0              0.375                                   7.875     BOCA RATON                                     FL                   33498     PUD
       16357197               0             0              0.375                                    7.25     SOUTH DAYTONA BEACH                            FL                   32119     Condominium
       16357198            0.48             0              0.375                                       7     DOUGLASVILLE                                   GA                   30135     PUD
       16357199               0             0              0.375                                   6.875     ATLANTA                                        GA                   30328     Condominium
       16357200            0.58             0              0.375                                     7.5     DACULA                                         GA                   30019     PUD
       16357201            0.58             0              0.375                                   7.875     LINCOLNTON                                     GA                   30817     Single Family
       16357202            0.48             0              0.375                                    7.75     CONYERS                                        GA                   30094     Single Family
       16357203               0             0              0.375                                    7.25     BOCA  RATON                                    FL                   33486     PUD
       16357204               0             0              0.375                                       7     CUMMING                                        GA                   30040     PUD
       16357205            0.68             0              0.375                                    7.25     GRAYSON                                        GA                   30017     PUD
       16357206               0             0              0.375                                   7.375     MIAMI BEACH                                    FL                   33141     Single Family
       16357207               0             0              0.375                                       7     CLEARWATER                                     FL                   33763     Condominium
       16357208               0             0              0.375                                   7.875     CONCORD                                        NC                   28025     PUD
       16357209               0             0              0.375                                   8.625     LAKE MARY                                      FL                   32746     Condominium
       16357210            0.58             0              0.375                                     7.5     BALL GROUND                                    GA                   30107     PUD
       16357211               0             0              0.375                                   6.125     BRADENTON                                      FL                   34202     PUD
       16357136               0             0              0.375                                    6.25     JACKSONVILLE                                   FL                   32207     Single Family
       16357137               0             0              0.375                                   7.875     COVINGTON                                      GA                   30014     Single Family
       16357138            0.48             0              0.375                                   7.375     LOGANVILLE                                     GA                   30052     PUD
       16357139            0.58             0              0.375                                     7.5     PEMBROKE PINES                                 FL                   33029     PUD
       16357140            0.48             0              0.375                                   7.125     DEERFIELD BEACH                                FL                   33441     Condominium
       16357141               0             0              0.375                                   6.625     ATLANTA                                        GA                   30327     Single Family
       16357142               0             0              0.375                                    6.75     ELLENWOOD                                      GA                   30294     PUD
       16357143               0             0              0.375                                   7.375     CLERMONT                                       FL                   34711     PUD
       16357144            0.58             0              0.375                                   7.125     LAKE MARY                                      FL                   32746     Condominium
       16357145               0             0              0.375                                     6.5     KISSIMMEE                                      FL                   34747     Condominium
       16357146            0.48             0              0.375                                     6.5     HUNTERSVILLE                                   NC                   28078     PUD
       16357148            0.48             0              0.375                                    7.25     CANTON                                         GA                   30115     PUD
       16357149               0             0              0.375                                   6.375     ORLANDO                                        FL                   32835     PUD
       16357150            0.45             0              0.375                                     7.5     SUNNY ISLES BEACH                              FL                   33160     Condominium
       16357151               0             0              0.375                                     6.5     VENICE                                         FL                   34285     Condominium
       16357110               0             0              0.375                                    6.25     CAPE CORAL                                     FL                   33990     Single Family
       16357111            0.48             0              0.375                                    7.75     BRADENTON                                      FL                   34205     Single Family
       16357112            0.58             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32259     Condominium
       16357113               0             0              0.375                                   8.125     STOCKBRIDGE                                    GA                   30281     Single Family
       16357114               0             0              0.375                                     6.5     HALLANDALE BEACH                               FL                   33009     Condominium
       16357115            0.48             0              0.375                                     7.5     BOGART                                         GA                   30622     PUD
       16357116            0.48             0              0.375                                    7.25     ROSWELL                                        GA                   30076     Single Family
       16357117            0.48             0              0.375                                       7     JACKSONVILLE                                   FL                   32225     Single Family
       16357118               0             0              0.375                                    6.25     SMYRNA                                         GA                   30080     Single Family
       16357119               0             0              0.375                                   7.125     RALEIGH                                        NC                   27610     Single Family
       16357120               0             0              0.375                                   7.375     HOMESTEAD                                      FL                   33035     PUD
       16357122            0.58             0              0.375                                   7.125     WAKEFOREST                                     NC                   27587     PUD
       16357124            0.48             0              0.375                                   7.375     MONROE                                         GA                   30655     Single Family
       16357125            0.68             0              0.375                                    7.75     EATONTON                                       GA                   31024     Single Family
       16357126               0             0              0.375                                   6.625     WEST PALM BEACH                                FL                   33411     PUD
       16357127               0             0              0.375                                     6.5     POMPANO BEACH                                  FL                   33069     Condominium
       16357128               0             0              0.375                                    6.75     TALLAHASSEE                                    FL                   32303     Condominium
       16357129            0.48             0              0.375                                   6.875     TAMPA                                          FL                   33626     Condominium
       16357130            0.48             0              0.375                                   7.375     MARGATE                                        FL                   33063     PUD
       16357131               0             0              0.375                                   6.625     ROSWELL                                        GA                   30075     Single Family
       16357132            0.48             0              0.375                                   7.625     TAMPA                                          FL                   33602     Condominium
       16357133               0             0              0.375                                   7.375     DURHAM                                         NC                   27707     Single Family
       16357134            0.45             0              0.375                                   7.375     WEST PALM BEACH                                FL                   33411     Condominium
       16357135            0.48             0              0.375                                    7.25     ROYAL PALM BEACH                               FL                   33411     PUD
       16357100               0             0              0.375                                    6.75     VALRICO                                        FL                   33594     Single Family
       16357101               0             0              0.375                                   6.875     LITHIA                                         FL                   33547     PUD
       16357102               0             0              0.375                                   6.625     SUNRISE                                        FL                   33322     Condominium
       16357103            0.35             0              0.375                                    7.25     MONROE                                         GA                   30655     PUD
       16357104               0             0              0.375                                     8.5     GAINESVILLE                                    GA                   30507     Single Family
       16357105               0             0              0.375                                   6.375     ORANGE PARK                                    FL                   32003     PUD
       16357106               0             0              0.375                                   6.875     ORLANDO                                        FL                   32806     Single Family
       16357107               0             0              0.375                                   6.875     ORLANDO                                        FL                   32806     Single Family
       16357108               0             0              0.375                                   7.875     DOUGLASVILLE                                   GA                   30134     Single Family
       16357109            0.48             0              0.375                                   7.125     PARKER                                         CO                   80134     PUD
       16357088            0.51             0              0.375                                   7.625     PLANT CITY                                     FL                   33563     Single Family
       16357089               0             0              0.375                                     7.5     MIAMI                                          FL                   33136     Condominium
       16357090            0.58             0              0.375                                   7.375     WEST PALM BEACH                                FL                   33401     Condominium
       16357092               0             0              0.375                                   6.875     WINTER HAVEN                                   FL                   33884     PUD
       16357093               0             0              0.375                                    7.25     TAMPA                                          FL                   33625     PUD
       16357094               0             0              0.375                                   6.875     ANGIER                                         NC                   27501     Single Family
       16357095               0             0              0.375                                    6.75     LAKE WORTH                                     FL                   33467     PUD
       16357096               0             0              0.375                                    6.75     CORAL SPRINGS                                  FL                   33065     Single Family
       16357097            0.58             0              0.375                                    7.75     DORAL                                          FL                   33166     Condominium
       16357098            0.48             0              0.375                                   7.125     CHARLOTTE                                      NC                   28205     Single Family
       16357099               0             0              0.375                                   7.625     HUNTERSVILLE                                   NC                   28078     PUD
       16357062               0             0              0.375                                    6.75     MIAMI                                          FL                   33157     Single Family
       16357063               0             0              0.375                                   6.625     WESTON                                         FL                   33326     Condominium
       16357064               0             0              0.375                                    7.25     CLEARWATER                                     FL                   33767     Condominium
       16357066               0             0              0.375                                   7.375     TAMPA                                          FL                   33629     Single Family
       16357067            0.48             0              0.375                                     7.5     COCONUT CREEK                                  FL                   33066     PUD
       16357068            0.48             0              0.375                                   6.875     HUNTERSVILLE                                   NC                   28078     PUD
       16357069            0.48             0              0.375                                   7.125     CORAL SPRINGS                                  FL                   33076     PUD
       16357070               0             0              0.375                                     7.5     FT WALTON                                      FL                   32548     Condominium
       16357071            0.48             0              0.375                                   6.875     CANTON                                         GA                   30114     PUD
       16357072            0.58             0              0.375                                   7.125     LAKE MARY                                      FL                   32746     Condominium
       16357073            0.48             0              0.375                                   7.375     NAPLES                                         FL                   34105     Condominium
       16357074               0             0              0.375                                    7.25     LAKE MARY                                      FL                   32746     Condominium
       16357075               0             0              0.375                                   6.375     NORTH FORT MYERS                               FL                   33917     PUD
       16357076            0.58             0              0.375                                   7.125     LAKE MARY                                      FL                   32746     Condominium
       16357077            0.48             0              0.375                                   6.875     COCONUT CREEK                                  FL                   33063     Condominium
       16357078               0             0              0.375                                     6.5     TAMPA                                          FL                   33617     Single Family
       16357079            0.48             0              0.375                                   7.625     MIAMI                                          FL                   33136     Condominium
       16357080               0             0              0.375                                     6.5     WEDDINGTON                                     NC                   28104     PUD
       16357081               0             0              0.375                                     6.5     FERNANDINA BEACH                               FL                   32034     Condominium
       16357082               0             0              0.375                                    6.75     ORANGE PARK                                    FL                   32065     PUD
       16357083               0             0              0.375                                     7.5     RIVERVIEW                                      FL                   33569     Condominium
       16357085            0.58             0              0.375                                     7.5     FAIRBURN                                       GA                   30213     PUD
       16357086               0             0              0.375                                   7.375     LAWRENCEVILLE                                  GA                   30044     PUD
       16357087               0             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32259     PUD
       16356998            0.48             0              0.375                                   7.625     VILLA RICA                                     GA                   30180     PUD
       16356999            0.48             0              0.375                                   6.875     COCONUT CREEK                                  FL                   33063     Condominium
       16357000               0             0              0.375                                     6.5     WINDERMERE                                     FL                   34786     PUD
       16357001               0             0              0.375                                   6.125     NORTH MYRTLE BEACH                             SC                   29582     Condominium
       16357002               0             0              0.375                                   7.125     ALPHARETTA                                     GA                   30004     PUD
       16357003               0             0              0.375                                   7.375     LAKE WORTH                                     FL                   33463     PUD
       16357004               0             0              0.375                                     6.5     CUTLER BAY                                     FL                   33189     Single Family
       16357005               0             0              0.375                                    6.25     CUMMING                                        GA                   30041     Single Family
       16357006            0.36             0              0.375                                    6.75     JACKSONVILLE                                   FL                   32258     Single Family
       16357007            0.48             0              0.375                                     7.5     LOCUST GROVE                                   GA                   30248     Single Family
       16357008            0.68             0              0.375                                   7.625     ATLANTA                                        GA                   30345     PUD
       16357009            0.48             0              0.375                                     7.5     SUGAR HILL                                     GA                   30518     PUD
       16357011            0.48             0              0.375                                   7.125     MCDONOUGH                                      GA                   30253     PUD
       16357012               0             0              0.375                                   7.375     ORLANDO                                        FL                   32821     PUD
       16357013               0             0              0.375                                   6.125     MARGATE                                        FL                   33063     Condominium
       16356923               0             0              0.375                                   6.875     TAMPA                                          FL                   33606     Single Family
       16356924            0.51             0              0.375                                    7.75     PORT CHARLOTTE                                 FL                   33954     PUD
       16356925               0             0              0.375                                   5.875     MARGATE                                        FL                   33063     PUD
       16356926               0             0              0.375                                   5.875     WEST PALM BEACH                                FL                   33411     PUD
       16356927            0.58             0              0.375                                   7.375     TAMPA                                          FL                   33624     Condominium
       16356928            0.48             0              0.375                                   7.375     ALPHARETTA                                     GA                   30004     Single Family
       16356929            0.48             0              0.375                                   7.625     TAMPA                                          FL                   33634     PUD
       16356930            0.58             0              0.375                                     7.5     OCEAN ISLE BEACH                               NC                   28469     PUD
       16356931            0.48             0              0.375                                   7.125     CANTON                                         GA                   30114     PUD
       16356932               0             0              0.375                                     8.5     CAPE CORAL                                     FL                   33993     Single Family
       16357014               0             0              0.375                                   6.125     TUCKER                                         GA                   30084     Townhouse
       16357015            0.48             0              0.375                                    7.75     MIAMI                                          FL                   33145     Condominium
       16357016               0             0              0.375                                   7.375     ALPHARETTA                                     GA                   30004     PUD
       16357017               0             0              0.375                                   5.625     JACKSONVILLE                                   FL                   32254     Single Family
       16357018            0.48             0              0.375                                       7     CONCORD                                        NC                   28025     PUD
       16357019            0.26             0              0.375                                     7.5     DAVIE                                          FL                   33324     PUD
       16357020               0             0              0.375                                    6.25     HOLLYWOOD                                      FL                   33020     Condominium
       16357021            0.48             0              0.375                                     7.5     LAWRENCEVILLE                                  GA                   30045     Single Family
       16357022            0.59             0              0.375                                   6.875     DULUTH                                         GA                   30096     Townhouse
       16357023               0             0              0.375                                   6.625     ALPHARETTA                                     GA                   30004     PUD
       16357024               0             0              0.375                                    7.75     ALPHARETTA                                     GA                   30005     Condominium
       16357025            0.58             0              0.375                                       7     LITHONIA                                       GA                   30058     Single Family
       16357026            0.48             0              0.375                                   7.625     DAVENPORT                                      FL                   33837     PUD
       16357027            0.48             0              0.375                                   7.125     RIVERVIEW                                      FL                   33569     PUD
       16357028            0.48             0              0.375                                    7.25     DAVIE                                          FL                   33314     Condominium
       16357029            0.39             0              0.375                                   6.125     TAMARAC                                        FL                   33321     Condominium
       16356933               0             0              0.375                                   5.875     ATLANTA                                        GA                   30341     PUD
       16356934               0             0              0.375                                     6.5     FLOWERY BRANCH                                 GA                   30542     Single Family
       16356935            0.48             0              0.375                                   7.625     DOUGLASVILLE                                   GA                   30135     Single Family
       16356936            0.48             0              0.375                                     7.5     LITHONIA                                       GA                   30058     Single Family
       16356937               0             0              0.375                                       6     RALEIGH                                        NC                   27607     Single Family
       16356938            0.58             0              0.375                                     7.5     ORLANDO                                        FL                   32835     Condominium
       16356939            0.48             0              0.375                                   6.875     LILBURN                                        GA                   30047     Single Family
       16356940            0.48             0              0.375                                   7.125     ATLANTA                                        GA                   30319     Condominium
       16356941               0             0              0.375                                   6.125     NICEVILLE                                      FL                   32578     Condominium
       16356942            0.48             0              0.375                                       7     MARSHVILLE                                     NC                   28103     Single Family
       16356943            0.48             0              0.375                                   7.125     EATONTON                                       GA                   31024     Single Family
       16356944            0.48             0              0.375                                    7.25     HIALEAH                                        FL                   33015     Condominium
       16356945               0             0              0.375                                    6.25     FT LAUDERDALE                                  FL                   33316     Single Family
       16356946            0.58             0              0.375                                     7.5     LAKELAND                                       FL                   33813     Single Family
       16356947               0             0              0.375                                   5.875     CUMMING                                        GA                   30040     PUD
       16356948            0.45             0              0.375                                       7     GREEN COVE SPRINGS                             FL                   32043     PUD
       16356949            0.48             0              0.375                                    7.25     PARKLAND                                       FL                   33067     Condominium
       16356950               0             0              0.375                                       6     MIAMI                                          FL                   33168     Single Family
       16356951            0.58             0              0.375                                   7.875     CHARLOTTE                                      NC                   28216     PUD
       16356952            0.48             0              0.375                                    7.25     SUGAR HILL                                     GA                   30518     PUD
       16356953            0.48             0              0.375                                    6.75     BUFORD                                         GA                   30519     PUD
       16356954               0             0              0.375                                   7.125     BOCA RATON                                     FL                   33428     Single Family
       16356955            0.48             0              0.375                                    7.75     TAMPA                                          FL                   33629     Single Family
       16356956            0.48             0              0.375                                   7.125     ORLANDO                                        FL                   32825     Condominium
       16356957            0.58             0              0.375                                   6.625     LAKE MARY                                      FL                   32746     Condominium
       16356958            0.48             0              0.375                                   7.125     YORK                                           SC                   29745     Single Family
       16356959               0             0              0.375                                    6.75     ORLANDO                                        FL                   32803     Single Family
       16356960            0.48             0              0.375                                   6.625     CORDELE                                        GA                   31015     Single Family
       16356961            0.48             0              0.375                                   8.125     DECATUR                                        GA                   30030     2-4 Family
       16356962               0             0              0.375                                   6.375     POWDER SPRINGS                                 GA                   30127     PUD
       16356963            0.48             0              0.375                                     7.5     PORT ST LUCIE                                  FL                   34952     Single Family
       16356964            0.48             0              0.375                                   7.875     WILTON MANORS                                  FL                   33311     Condominium
       16356965            0.48             0              0.375                                    7.75     EAST POINT                                     GA                   30344     Single Family
       16356966            0.48             0              0.375                                       7     SALISBURY                                      NC                   28146     Single Family
       16356967            0.48             0              0.375                                     7.5     POMPANO BEACH                                  FL                   33064     Condominium
       16356968               0             0              0.375                                   7.375     OLDSMAR                                        FL                   34677     Single Family
       16356969            0.48             0              0.375                                   7.375     DURHAM                                         NC                   27713     PUD
       16356970            0.58             0              0.375                                   7.625     TAMPA                                          FL                   33626     PUD
       16356971            0.58             0              0.375                                   7.875     ATLANTA                                        GA                   30313     Condominium
       16356972            0.48             0              0.375                                   7.375     MONROE                                         GA                   30655     Single Family
       16356973               0             0              0.375                                    6.25     CHARLOTTE                                      NC                   28203     Single Family
       16356974               0             0              0.375                                    6.25     CHARLOTTE                                      NC                   28277     PUD
       16356975            0.58             0              0.375                                    6.75     WAKE FOREST                                    NC                   27587     PUD
       16356976            0.58             0              0.375                                   7.625     ATLANTA                                        GA                   30329     Single Family
       16356977               0             0              0.375                                   6.125     MIAMI                                          FL                   33129     Condominium
       16356978            0.48             0              0.375                                     7.5     COVINGTON                                      GA                   30016     Single Family
       16356979               0             0              0.375                                   6.375     BROOKS                                         GA                   30205     Single Family
       16356980            0.48             0              0.375                                   7.375     JACKSON                                        GA                   30233     Single Family
       16356981               0             0              0.375                                   6.625     SANTA ROSA BEACH                               FL                   32459     Condominium
       16356982            0.48             0              0.375                                    7.75     TAMPA                                          FL                   33612     Single Family
       16356983               0             0              0.375                                     8.5     RIVERVIEW                                      FL                   33569     PUD
       16356984            0.36             0              0.375                                    7.25     ESTERO                                         FL                   33928     Condominium
       16356985               0             0              0.375                                    6.75     GAINESVILLE                                    FL                   32608     Condominium
       16356986            0.36             0              0.375                                   7.125     NEW PORT RICHEY                                FL                   34652     PUD
       16356987            0.68             0              0.375                                     7.5     ACWORTH                                        GA                   30101     PUD
       16356988               0             0              0.375                                    6.75     WEST PALM BEACH                                FL                   33411     Condominium
       16356989               0             0              0.375                                   6.125     NEW BERN                                       NC                   28560     PUD
       16356990            0.36             0              0.375                                     7.5     LAKELAND                                       FL                   33810     PUD
       16356991               0             0              0.375                                    7.25     CLEARWATER                                     FL                   33767     Condominium
       16356992            0.48             0              0.375                                   6.875     RIVERVIEW                                      FL                   33569     PUD
       16356994               0             0              0.375                                   7.375     ST AUGUSTINE                                   FL                   32092     PUD
       16356995               0             0              0.375                                    6.75     BOCA RATON                                     FL                   33432     Single Family
       16356996               0             0              0.375                                   6.375     MARIETTA                                       GA                   30068     PUD
       16356997            0.48             0              0.375                                     7.5     TAMPA                                          FL                   33637     Single Family
       16357030            0.58             0              0.375                                     7.5     ORLANDO                                        FL                   32817     PUD
       16357031               0             0              0.375                                   6.125     DOUGLASVILLE                                   GA                   30135     PUD
       16357032               0             0              0.375                                   6.875     WEST PALM BCH                                  FL                   33411     Condominium
       16357033            0.48             0              0.375                                    6.75     CHARLOTTE                                      NC                   28277     PUD
       16357034               0             0              0.375                                   5.875     BOCA RATON                                     FL                   33486     Single Family
       16357035            0.48             0              0.375                                     7.5     HIALEAH                                        FL                   33015     Condominium
       16357036               0             0              0.375                                     7.5     WEST PALM BEACH                                FL                   33411     Condominium
       16357037            0.58             0              0.375                                    7.75     CUMMING                                        GA                   30041     Single Family
       16357038               0             0              0.375                                    6.75     TAMPA                                          FL                   33602     PUD
       16357039            0.48             0              0.375                                       7     DALLAS                                         GA                   30157     Single Family
       16357040               0             0              0.375                                   7.375     MIAMI                                          FL                   33138     Condominium
       16357041               0             0              0.375                                    7.75     ATLANTA                                        GA                   30331     Condominium
       16357042               0             0              0.375                                    7.75     ATLANTA                                        GA                   30331     Condominium
       16357043            0.48             0              0.375                                       7     MARIETTA                                       GA                   30008     PUD
       16357044            0.48             0              0.375                                   7.625     LOGANVILLE                                     GA                   30052     PUD
       16357045            0.68             0              0.375                                   7.375     KENNESAW                                       GA                   30144     PUD
       16357046            0.45             0              0.375                                   7.625     FAYETTEVILLE                                   GA                   30215     Single Family
       16357047               0             0              0.375                                       6     ORLANDO                                        FL                   32837     PUD
       16357048               0             0              0.375                                       7     CANTON                                         GA                   30114     PUD
       16357049            0.51             0              0.375                                   7.875     TAMPA                                          FL                   33624     Condominium
       16357050               0             0              0.375                                       7     ORLANDO                                        FL                   32835     PUD
       16357051            0.35             0              0.375                                   7.625     SOUTH PALM BEACH                               FL                   33480     Condominium
       16357052               0             0              0.375                                   7.375     FORT MYERS                                     FL                   33907     Condominium
       16357053            0.58             0              0.375                                   7.125     MCDONOUGH                                      GA                   30252     PUD
       16357054            0.58             0              0.375                                   7.625     DELRAY BEACH                                   FL                   33444     Condominium
       16357055            0.58             0              0.375                                   7.625     DOUGLASVILLE                                   GA                   30135     PUD
       16357056               0             0              0.375                                     6.5     CANTON                                         GA                   30114     PUD
       16357057            0.35             0              0.375                                       7     CHARLOTTE                                      NC                   28212     Single Family
       16357058               0             0              0.375                                   8.625     PORT SAINT LUCIE                               FL                   34983     Single Family
       16357059               0             0              0.375                                    6.25     BOYNTON BEACH                                  FL                   33437     PUD
       16357060            0.45             0              0.375                                    7.25     LAKE MARY                                      FL                   32746     Condominium
       16357061            0.48             0              0.375                                   6.875     LAWRENCEVILLE                                  GA                   30043     PUD
       16356897            0.35             0              0.375                                   7.875     CHINA GROVE                                    NC                   28023     Single Family
       16356898            0.48             0              0.375                                   7.125     MARIETTA                                       GA                   30008     Single Family
       16356899               0             0              0.375                                   6.875     HOMESTEAD                                      FL                   33035     PUD
       16356900            0.48             0              0.375                                    7.25     THOMASVILLE                                    GA                   31792     Single Family
       16356901            0.58             0              0.375                                    7.25     WHITE                                          GA                   30184     Single Family
       16356902               0             0              0.375                                   6.125     LAWRENCEVILLE                                  GA                   30045     PUD
       16356903            0.48             0              0.375                                     7.5     ATLANTA                                        GA                   30318     PUD
       16356904               0             0              0.375                                    6.25     PARKLAND                                       FL                   33076     PUD
       16356905               0             0              0.375                                   6.125     GAINESVILLE                                    GA                   30506     Single Family
       16356906            0.48             0              0.375                                       7     CARY                                           NC                   27513     PUD
       16356907               0             0              0.375                                   6.875     FORT MYERS                                     FL                   33919     Condominium
       16356908            0.58             0              0.375                                     7.5     BONITA SPRINGS                                 FL                   34134     Single Family
       16356909            0.48             0              0.375                                    7.25     MIAMI                                          FL                   33133     Condominium
       16356910            0.48             0              0.375                                       7     DULUTH                                         GA                   30096     Single Family
       16356911            0.48             0              0.375                                    7.25     TAMPA                                          FL                   33609     Single Family
       16356912            0.48             0              0.375                                   7.875     LITHONIA                                       GA                   30038     Single Family
       16356913            0.48             0              0.375                                   7.375     VILLA RICA                                     GA                   30180     PUD
       16356914               0             0              0.375                                    6.25     LARGO                                          FL                   33770     Single Family
       16356915            0.48             0              0.375                                       8     STANLEY                                        NC                   28164     Single Family
       16356916               0             0              0.375                                     7.5     MIAMI                                          FL                   33145     Condominium
       16356917               0             0              0.375                                     6.5     CHARLOTTE                                      NC                   28209     Single Family
       16356918            0.48             0              0.375                                       7     STONE MOUNTAIN                                 GA                   30083     Single Family
       16356920               0             0              0.375                                   6.125     AVENTURA                                       FL                   33180     Condominium
       16356921            0.48             0              0.375                                    7.25     LARGO                                          FL                   33773     Condominium
       16356922            0.58             0              0.375                                    7.25     HARRISBURG                                     NC                   28075     PUD
       16356885            0.48             0              0.375                                     7.5     CONYERS                                        GA                   30094     PUD
       16356886            0.48             0              0.375                                     7.5     TAMPA                                          FL                   33615     PUD
       16356887               0             0              0.375                                   6.125     WEST PALM BEACH                                FL                   33412     PUD
       16356888            0.48             0              0.375                                   6.875     KISSIMMEE                                      FL                   34743     PUD
       16356889            0.58             0              0.375                                   7.375     JENSEN BCH                                     FL                   34957     Condominium
       16356890               0             0              0.375                                   6.625     TEMPLE TERRACE                                 FL                   33617     Single Family
       16356891               0             0              0.375                                    6.25     ATLANTA                                        GA                   30319     Single Family
       16356892            0.58             0              0.375                                    7.75     VENICE                                         FL                   34293     Single Family
       16356893            0.51             0              0.375                                    7.25     CUMMING                                        GA                   30040     Single Family
       16356894            0.58             0              0.375                                     6.5     TAMARAC                                        FL                   33321     PUD
       16356895               0             0              0.375                                   6.625     JUPITER                                        FL                   33458     PUD
       16356896               0             0              0.375                                       6     WAXHAW                                         NC                   28173     PUD
       16356713            0.48             0              0.375                                   7.375     SUNNY ISLES BEACH                              FL                   33160     Condominium
       16356714               0             0              0.375                                    5.75     RIVERVIEW                                      FL                   33569     PUD
       16356715            0.48             0              0.375                                    7.25     WINDER                                         GA                   30680     PUD
       16356716            0.58             0              0.375                                     7.5     JONESBORO                                      GA                   30236     Single Family
       16356717            0.68             0              0.375                                     7.5     ACWORTH                                        GA                   30101     PUD
       16356718            0.48             0              0.375                                   7.125     ORLANDO                                        FL                   32837     PUD
       16356719            0.35             0              0.375                                   7.375     FORT PIERCE                                    FL                   34982     Condominium
       16356720               0             0              0.375                                   7.875     SNELLVILLE                                     GA                   30039     Single Family
       16356721            0.48             0              0.375                                       7     ORLANDO                                        FL                   32806     Condominium
       16356722            0.48             0              0.375                                   6.625     PINELLAS PARK                                  FL                   33782     Single Family
       16356723               0             0              0.375                                   6.125     LUTZ                                           FL                   33548     Single Family
       16356724            0.58             0              0.375                                   7.625     DELRAY BEACH                                   FL                   33444     Condominium
       16356683               0             0              0.375                                   6.125     DULUTH                                         GA                   30096     PUD
       16356684            0.45             0              0.375                                   7.375     DELRAY BEACH                                   FL                   33444     Condominium
       16356685            0.48             0              0.375                                     6.5     CLEARWATER                                     FL                   33759     Single Family
       16356686            0.58             0              0.375                                       7     LAWRENCEVILLE                                  GA                   30044     Single Family
       16356687            0.58             0              0.375                                     7.5     CHARLOTTE                                      NC                   28214     Single Family
       16356688            0.58             0              0.375                                    7.75     FORT MYERS                                     FL                   33916     Condominium
       16356689            0.48             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32223     PUD
       16356690               0             0              0.375                                    6.25     CLEARWATER                                     FL                   33767     Condominium
       16356691               0             0              0.375                                   6.125     CORAL SPRINGS                                  FL                   33067     PUD
       16356692            0.58             0              0.375                                   6.875     LAKE MARY                                      FL                   32746     Condominium
       16356693            0.26             0              0.375                                     6.5     KISSIMMEE                                      FL                   34747     Condominium
       16356694            0.58             0              0.375                                   7.125     LAKE MARY                                      FL                   32746     Condominium
       16356695            0.48             0              0.375                                   7.625     PEMBROKE PINES                                 FL                   33026     PUD
       16356696            0.58             0              0.375                                     7.5     TAMPA                                          FL                   33610     PUD
       16356697               0             0              0.375                                   5.875     KISSIMMEE                                      FL                   34741     PUD
       16356698            0.48             0              0.375                                   7.375     PORT SAINT LUCIE                               FL                   34984     Single Family
       16356699            0.48             0              0.375                                   6.875     SEFFNER                                        FL                   33584     PUD
       16356700            0.48             0              0.375                                   7.125     OXFORD                                         GA                   30054     Single Family
       16356701               0             0              0.375                                   5.875     DALLAS                                         GA                   30132     Single Family
       16356702            0.48             0              0.375                                       7     TUCKER                                         GA                   30084     Single Family
       16356703            0.58             0              0.375                                       7     BUNNELL                                        FL                   32110     Condominium
       16356704            0.48             0              0.375                                    6.25     JEFFERSON                                      GA                   30549     PUD
       16356705            0.48             0              0.375                                    7.25     SMYRNA                                         GA                   30080     Condominium
       16356706               0             0              0.375                                    7.75     BRADENTON                                      FL                   34210     Condominium
       16356707               0             0              0.375                                    7.75     KISSIMMEE                                      FL                   34741     Condominium
       16356708               0             0              0.375                                    7.25     RIVERVIEW                                      FL                   33569     Condominium
       16356709               0             0              0.375                                       6     DAVIE                                          FL                   33331     PUD
       16356710            0.48             0              0.375                                       7     WAKE FOREST                                    NC                   27587     PUD
       16356711            0.48             0              0.375                                     7.5     BRADENTON                                      FL                   34209     Single Family
       16356712            0.68             0              0.375                                     7.5     DALLAS                                         GA                   30157     PUD
       16356641            0.58             0              0.375                                   7.375     TALLAHASSEE                                    FL                   32304     PUD
       16356642               0             0              0.375                                     6.5     ATLANTA                                        GA                   30310     Single Family
       16356643               0             0              0.375                                    6.25     TARPON SPRINGS                                 FL                   34688     PUD
       16356644            0.58             0              0.375                                    7.25     POMPANO BEACH                                  FL                   33069     Condominium
       16356645               0             0              0.375                                   6.125     NEW SMYRNA BEACH                               FL                   32169     Condominium
       16356646               0             0              0.375                                       6     LAND O LAKES                                   FL                   34637     PUD
       16356647            0.64             0              0.375                                   7.375     NEWNAN                                         GA                   30265     PUD
       16356648            0.48             0              0.375                                   6.875     GREENVILLE                                     SC                   29605     PUD
       16356649            0.64             0              0.375                                   7.375     NEWNAN                                         GA                   30265     PUD
       16356650            0.48             0              0.375                                       7     HIRAM                                          GA                   30141     PUD
       16356651               0             0              0.375                                       6     ROSWELL                                        GA                   30076     PUD
       16356652            0.58             0              0.375                                     7.5     NEW SMYRNA BEACH                               FL                   32169     Condominium
       16356653            0.58             0              0.375                                    7.25     HAMPTON                                        GA                   30228     PUD
       16356654               0             0              0.375                                       6     TAMARAC                                        FL                   33321     Condominium
       16356655               0             0              0.375                                    6.25     SMYRNA                                         GA                   30080     Single Family
       16356656            0.48             0              0.375                                     7.5     MARIETTA                                       GA                   30060     Single Family
       16356657               0             0              0.375                                   6.125     LUTZ                                           FL                   33558     PUD
       16356658            0.48             0              0.375                                       7     TAMPA                                          FL                   33624     Condominium
       16356659            0.48             0              0.375                                       7     SUWANEE                                        GA                   30024     PUD
       16356660            0.48             0              0.375                                   6.875     MARIETTA                                       GA                   30067     Single Family
       16356661               0             0              0.375                                   6.125     ALPHARETTA                                     GA                   30005     PUD
       16356662            0.48             0              0.375                                    6.25     RALEIGH                                        NC                   27603     Single Family
       16356663               0             0              0.375                                     6.5     MARIETTA                                       GA                   30068     PUD
       16356664            0.35             0              0.375                                   6.875     WAXHAW                                         NC                   28173     Single Family
       16356665            0.58             0              0.375                                   7.625     APEX                                           NC                   27539     PUD
       16356666            0.48             0              0.375                                       7     RIVERVIEW                                      FL                   33569     PUD
       16356667               0             0              0.375                                     6.5     PARKLAND                                       FL                   33076     PUD
       16356668            0.48             0              0.375                                   6.625     WAKE FOREST                                    NC                   27587     PUD
       16356670            0.48             0              0.375                                   7.375     CASSELBERRY                                    FL                   32707     Single Family
       16356671            0.48             0              0.375                                    7.25     NEWNAN                                         GA                   30265     PUD
       16356672            0.58             0              0.375                                   7.375     LAWRENCEVILLE                                  GA                   30044     Single Family
       16356673               0             0              0.375                                   6.875     FORT LAUDERDALE                                FL                   33301     Single Family
       16356674               0             0              0.375                                   6.875     NORTH PALM BEACH                               FL                   33408     Single Family
       16356675            0.58             0              0.375                                     7.5     FOREST PARK                                    GA                   30297     Single Family
       16356676            0.48             0              0.375                                   6.875     LAKE WORTH                                     FL                   33463     Condominium
       16356677            0.58             0              0.375                                       7     CHARLOTTE                                      NC                   28213     PUD
       16356678               0             0              0.375                                   8.375     N MYRTLE BEACH                                 SC                   29582     PUD
       16356679               0             0              0.375                                   6.125     ATHENS                                         GA                   30605     Single Family
       16356680            0.58             0              0.375                                    7.25     GAINESVILLE                                    FL                   32607     PUD
       16356681               0             0              0.375                                    6.25     MCDONOUGH                                      GA                   30252     Single Family
       16356682               0             0              0.375                                   6.125     PARKLAND                                       FL                   33067     Single Family
       16356474               0             0              0.375                                   5.875     DALLAS                                         GA                   30157     Single Family
       16356475               0             0              0.375                                   6.125     PALMETTO BAY                                   FL                   33157     Single Family
       16356476               0             0              0.375                                   6.125     HIALEAH                                        FL                   33010     Condominium
       16356477               0             0              0.375                                    6.25     MIRAMAR                                        FL                   33027     PUD
       16356478               0             0              0.375                                   5.375     CHARLOTTE                                      NC                   28203     Condominium
       16356479               0             0              0.375                                       6     BOGART                                         GA                   30622     PUD
       16356480               0             0              0.375                                    5.75     DANIELSVILLE                                   GA                   30633     Single Family
       16356481               0             0              0.375                                   6.125     DULUTH                                         GA                   30097     PUD
       16356482               0             0              0.375                                    6.25     DAVIE                                          FL                   33330     PUD
       16356483               0             0              0.375                                   6.125     LOGANVILLE                                     GA                   30052     PUD
       16356484               0             0              0.375                                       6     MIAMI                                          FL                   33138     Single Family
       16356485               0             0              0.375                                       6     CARY                                           NC                   27513     PUD
       16356486               0             0              0.375                                   5.875     TAMPA                                          FL                   33615     Condominium
       16356487               0             0              0.375                                    5.75     KENNESAW                                       GA                   30152     PUD
       16356488               0             0              0.375                                    6.75     EAST POINT                                     GA                   30344     Single Family
       16356489               0             0              0.375                                   6.125     MOORESVILLE                                    NC                   28117     Single Family
       16356490               0             0              0.375                                    6.75     LAWRENCEVILLE                                  GA                   30044     Single Family
       16356491               0             0              0.375                                   5.875     DULUTH                                         GA                   30097     PUD
       16356492               0             0              0.375                                       6     CORAL GABLES                                   FL                   33146     Single Family
       16356493               0             0              0.375                                   6.125     WINDERMERE                                     FL                   34786     PUD
       16356494            0.48             0              0.375                                    7.25     KISSIMMEE                                      FL                   34741     PUD
       16356495               0             0              0.375                                   5.875     ATHENS                                         GA                   30606     Single Family
       16356625            0.48             0              0.375                                    6.75     HOLIDAY                                        FL                   34690     Single Family
       16356626               0             0              0.375                                     6.5     TAMPA                                          FL                   33606     Single Family
       16356627            0.48             0              0.375                                   7.375     OAKLAND PARK                                   FL                   33309     Single Family
       16356628            0.58             0              0.375                                    7.25     FRANKLIN                                       NC                   28734     PUD
       16356629            0.48             0              0.375                                   7.375     POMPANO BEACH                                  FL                   33069     Single Family
       16356630            0.48             0              0.375                                   7.375     BOYNTON BEACH                                  FL                   33437     Condominium
       16356631               0             0              0.375                                    6.25     ST AUGUSTINE                                   FL                   32092     PUD
       16356632            0.48             0              0.375                                    7.25     LAWRENCEVILLE                                  GA                   30045     PUD
       16356633            0.68             0              0.375                                    7.75     NAPLES                                         FL                   34112     Condominium
       16356634            0.58             0              0.375                                    7.25     FT MYERS                                       FL                   33913     PUD
       16356635               0             0              0.375                                       6     FLOWERY BRANCH                                 GA                   30542     Single Family
       16356636            0.48             0              0.375                                   7.375     CANTON                                         GA                   30115     PUD
       16356637            0.58             0              0.375                                    7.75     HOMESTEAD                                      FL                   33035     Condominium
       16356638               0             0              0.375                                       6     MATTHEWS                                       NC                   28105     PUD
       16356639            0.48             0              0.375                                    7.25     TAMARAC                                        FL                   33321     Condominium
       16356640            0.35             0              0.375                                       7     FORT LAUDERDALE                                FL                   33312     Single Family
       16356496               0             0              0.375                                   7.375     LAKE MARY                                      FL                   32746     Condominium
       16356497               0             0              0.375                                   6.125     ALPHARETTA                                     GA                   30004     PUD
       16356498               0             0              0.375                                   5.875     CUMMING                                        GA                   30041     PUD
       16356499            0.48             0              0.375                                    6.75     LAKELAND                                       FL                   33811     PUD
       16356500            0.48             0              0.375                                    6.75     MOORESVILLE                                    NC                   28117     PUD
       16356501               0             0              0.375                                    5.75     ATLANTA                                        GA                   30318     PUD
       16356502               0             0              0.375                                    5.75     ACWORTH                                        GA                   30101     PUD
       16356503               0             0              0.375                                   6.625     ST AUGUSTINE                                   FL                   32095     Condominium
       16356504               0             0              0.375                                     6.5     MARIETTA                                       GA                   30068     Single Family
       16356505               0             0              0.375                                     6.5     COCONUT CREEK                                  FL                   33066     Condominium
       16356506               0             0              0.375                                       6     CANTON                                         GA                   30114     PUD
       16356507               0             0              0.375                                       7     PORT CHARLOTTE                                 FL                   33954     Single Family
       16356508               0             0              0.375                                   6.125     PALMETTO BAY                                   FL                   33158     Single Family
       16356509               0             0              0.375                                       6     TAMPA                                          FL                   33624     PUD
       16356510               0             0              0.375                                       7     LAWRENCEVILLE                                  GA                   30043     Single Family
       16356511            0.48             0              0.375                                   7.125     DALLAS                                         GA                   30157     Single Family
       16356512               0             0              0.375                                       6     DESTIN                                         FL                   32541     Single Family
       16356513               0             0              0.375                                   6.625     ALPHARETTA                                     GA                   30004     PUD
       16356514               0             0              0.375                                   6.625     NAPLES                                         FL                   34110     PUD
       16356515               0             0              0.375                                   6.125     BETHLEHEM                                      GA                   30620     Single Family
       16356516               0             0              0.375                                   5.875     KNIGHTDALE                                     NC                   27545     PUD
       16356517               0             0              0.375                                   6.625     MIAMI                                          FL                   33131     Condominium
       16356518               0             0              0.375                                   6.125     PEMBROKE PINES                                 FL                   33029     PUD
       16356519            0.48             0              0.375                                    7.25     FLOWERY BRANCH                                 GA                   30542     PUD
       16356520               0             0              0.375                                   6.125     PONTE VEDRA BEACH                              FL                   32082     Condominium
       16356521               0             0              0.375                                       6     WINDERMERE                                     FL                   34786     PUD
       16356522               0             0              0.375                                   6.625     BOCA RATON                                     FL                   33431     PUD
       16356523               0             0              0.375                                   6.125     NEW SMYRNA BEACH                               FL                   32169     Condominium
       16356524               0             0              0.375                                    5.75     KENNESAW                                       GA                   30152     PUD
       16356525               0             0              0.375                                   6.125     HIALEAH                                        FL                   33018     Single Family
       16356527            0.48             0              0.375                                       7     NORTH PORT                                     FL                   34286     Single Family
       16356528            0.48             0              0.375                                   6.625     ELLENWOOD                                      GA                   30294     PUD
       16356529               0             0              0.375                                   8.125     ATLANTA                                        GA                   30331     PUD
       16356530               0             0              0.375                                   5.875     WOODSTOCK                                      GA                   30188     PUD
       16356531               0             0              0.375                                       6     SUWANEE                                        GA                   30024     PUD
       16356532               0             0              0.375                                   6.625     WEST PALM BEACH                                FL                   33412     PUD
       16356533               0             0              0.375                                   6.125     CLEARWATER                                     FL                   33763     Single Family
       16356534               0             0              0.375                                   6.125     WESTON                                         FL                   33327     PUD
       16356535               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33498     PUD
       16356536               0             0              0.375                                    6.25     DELRAY BEACH                                   FL                   33445     PUD
       16356537               0             0              0.375                                       6     STONE MOUNTAIN                                 GA                   30087     Single Family
       16356538               0             0              0.375                                    6.25     POMPANO BEACH                                  FL                   33062     Single Family
       16356539            0.48             0              0.375                                     7.5     BOCA RATON                                     FL                   33496     Condominium
       16356541            0.58             0              0.375                                   7.625     CAPE CORAL                                     FL                   33914     Single Family
       16356542            0.58             0              0.375                                     7.5     CONYERS                                        GA                   30094     PUD
       16356543            0.64             0              0.375                                   7.875     MIAMI                                          FL                   33133     Condominium
       16356544               0             0              0.375                                       6     HALLANDALE                                     FL                   33009     Single Family
       16356545            0.51             0              0.375                                       8     RIVERVIEW                                      FL                   33569     Condominium
       16356546            0.58             0              0.375                                   7.375     ESTERO                                         FL                   33928     Condominium
       16356547            0.58             0              0.375                                    7.75     LAWRENCEVILLE                                  GA                   30045     Single Family
       16356548            0.58             0              0.375                                    7.25     RIVERVIEW                                      FL                   33569     PUD
       16356549            0.48             0              0.375                                       7     FAYETTEVILLE                                   NC                   28311     Single Family
       16356550            0.48             0              0.375                                     7.5     ESTERO                                         FL                   33928     PUD
       16356551               0             0              0.375                                       7     RIVERVIEW                                      FL                   33569     Condominium
       16356552            0.48             0              0.375                                    7.25     GREEN ACRES                                    FL                   33415     PUD
       16356553            0.48             0              0.375                                   7.375     FT MYERS                                       FL                   33907     Condominium
       16356554               0             0              0.375                                    6.25     FERNANDINA BEACH                               FL                   32034     Single Family
       16356555            0.48             0              0.375                                   7.125     DALLAS                                         GA                   30132     PUD
       16356556            0.48             0              0.375                                   7.875     MARGATE                                        FL                   33063     Condominium
       16356558               0             0              0.375                                    6.75     BRADENTON                                      FL                   34210     Condominium
       16356559               0             0              0.375                                       6     SMYRNA                                         GA                   30080     PUD
       16356560            0.48             0              0.375                                   7.625     DALLAS                                         GA                   30157     PUD
       16356561               0             0              0.375                                     6.5     RIVERVIEW                                      FL                   33569     Condominium
       16356562            0.58             0              0.375                                   7.125     NORTH PORT                                     FL                   34286     Single Family
       16356563            0.48             0              0.375                                    7.75     MIAMI                                          FL                   33165     Single Family
       16356564            0.48             0              0.375                                   7.125     CUMMING                                        GA                   30040     PUD
       16356565            0.48             0              0.375                                    6.75     SARASOTA                                       FL                   34234     Single Family
       16356566            0.58             0              0.375                                    7.75     CHARLOTTE                                      NC                   28216     PUD
       16356567            0.48             0              0.375                                   6.875     COCONUT CREEK                                  FL                   33063     PUD
       16356568               0             0              0.375                                   6.125     WINTER GARDEN                                  FL                   34787     PUD
       16356569            0.58             0              0.375                                   6.875     HOLLY SPRINGS                                  GA                   30114     PUD
       16356570            0.48             0              0.375                                   6.875     GROVELAND                                      FL                   34736     PUD
       16356571            0.48             0              0.375                                   7.625     MIAMI                                          FL                   33133     Condominium
       16356572            0.58             0              0.375                                    7.75     FORT MYERS                                     FL                   33912     Condominium
       16356573               0             0              0.375                                     6.5     CHARLOTTE                                      NC                   28273     PUD
       16356574            0.58             0              0.375                                    7.75     CONLEY                                         GA                   30288     PUD
       16356575            0.48             0              0.375                                   7.375     ORLANDO                                        FL                   32837     PUD
       16356576               0             0              0.375                                   6.375     ALPHARETTA                                     GA                   30004     PUD
       16356577            0.48             0              0.375                                   7.625     POMPANO BEACH                                  FL                   33069     Condominium
       16356578               0             0              0.375                                   7.125     MIAMI                                          FL                   33131     Condominium
       16356579               0             0              0.375                                    5.75     PEMBROKE PINES                                 FL                   33028     PUD
       16356580            0.48             0              0.375                                    7.25     POMPANO BEACH                                  FL                   33069     Condominium
       16356581               0             0              0.375                                    6.75     WEST PALM BEACH                                FL                   33401     Condominium
       16356582               0             0              0.375                                   5.875     FT LAUDERDALE                                  FL                   33316     Single Family
       16356583            0.48             0              0.375                                   7.375     BUFORD                                         GA                   30519     PUD
       16356584            0.36             0              0.375                                   7.125     HOMESTEAD                                      FL                   33033     PUD
       16356585            0.48             0              0.375                                       7     ATLANTA                                        GA                   30315     Condominium
       16356586            0.58             0              0.375                                    7.25     MIAMI                                          FL                   33133     Condominium
       16356587            0.58             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32266     Condominium
       16356588            0.48             0              0.375                                    7.25     STONE MOUNTAIN                                 GA                   30083     Single Family
       16356589               0             0              0.375                                   6.125     TAMPA                                          FL                   33629     Single Family
       16356590               0             0              0.375                                   6.375     DULUTH                                         GA                   30097     PUD
       16356591            0.48             0              0.375                                    6.75     HIRAM                                          GA                   30141     PUD
       16356592               0             0              0.375                                    7.75     PALM BEACH                                     FL                   33480     Single Family
       16356593               0             0              0.375                                   6.375     BOCA RATON                                     FL                   33498     PUD
       16356594            0.48             0              0.375                                    6.75     CHARLOTTE                                      NC                   28205     Condominium
       16356595            0.58             0              0.375                                   7.625     ST AUGUSTINE                                   FL                   32092     PUD
       16356596            0.45             0              0.375                                    7.25     SUNNY ISLES BEACH                              FL                   33160     Condominium
       16356597               0             0              0.375                                    5.75     PLANTATION                                     FL                   33324     PUD
       16356598               0             0              0.375                                       6     MIRAMAR                                        FL                   33029     PUD
       16356599            0.48             0              0.375                                    6.75     MARIETTA                                       GA                   30062     PUD
       16356600               0             0              0.375                                       6     LAKE WORTH                                     FL                   33467     PUD
       16356601            0.48             0              0.375                                   6.875     ST AUGUSTINE                                   FL                   32092     PUD
       16356602               0             0              0.375                                    6.25     TREASURE ISLAND                                FL                   33706     Condominium
       16356603            0.58             0              0.375                                   7.125     ORLANDO                                        FL                   32826     PUD
       16356604               0             0              0.375                                   5.875     WINTER PARK                                    FL                   32792     Single Family
       16356605            0.48             0              0.375                                    7.25     FAYETTEVILLE                                   GA                   30214     PUD
       16356606            0.35             0              0.375                                   6.875     ORLANDO                                        FL                   32821     PUD
       16356607            0.48             0              0.375                                       7     ATLANTA                                        GA                   30305     Condominium
       16356608               0             0              0.375                                    6.75     PALM HARBOR                                    FL                   34684     PUD
       16356609            0.48             0              0.375                                    7.25     TAMPA                                          FL                   33602     Single Family
       16356610            0.58             0              0.375                                     7.5     DECATUR                                        GA                   30032     Single Family
       16356611               0             0              0.375                                   6.375     GAINESVILLE                                    GA                   30506     Single Family
       16356612            0.48             0              0.375                                    7.25     POMPANO BEACH                                  FL                   33069     Condominium
       16356613            0.48             0              0.375                                   7.125     ATLANTA                                        GA                   30309     Condominium
       16356614            0.48             0              0.375                                    7.25     BOCA RATON                                     FL                   33431     Single Family
       16356615               0             0              0.375                                    6.75     CORAL SPRINGS                                  FL                   33071     PUD
       16356616            0.35             0              0.375                                       7     JACKSONVILLE                                   FL                   32202     PUD
       16356617               0             0              0.375                                    6.75     BONITA SPRINGS                                 FL                   34134     PUD
       16356618               0             0              0.375                                   6.875     WELLINGTON                                     FL                   33414     PUD
       16356619            0.48             0              0.375                                     7.5     KNOXVILLE                                      TN                   37918     Single Family
       16356620            0.58             0              0.375                                   7.375     ALVA                                           FL                   33920     Single Family
       16356621            0.48             0              0.375                                    7.25     COCONUT CREEK                                  FL                   33066     Single Family
       16356622            0.35             0              0.375                                   6.875     DAVENPORT                                      FL                   33896     PUD
       16356623               0             0              0.375                                   6.125     PARKLAND                                       FL                   33067     PUD
       16356624            0.58             0              0.375                                    7.25     CHARLOTTE                                      NC                   28213     PUD
       16356253               0             0              0.375                                   6.625     GROVELAND                                      FL                   34736     PUD
       16356254               0             0              0.375                                    5.75     ESTERO                                         FL                   33928     PUD
       16356256               0             0              0.375                                       7     CLERMONT                                       FL                   34711     PUD
       16356257               0             0              0.375                                   5.875     CLEVELAND                                      GA                   30528     Single Family
       16356258               0             0              0.375                                   6.875     JUPITER                                        FL                   33458     PUD
       16356260               0             0              0.375                                   5.875     NEW PORT RICHEY                                FL                   34654     PUD
       16356261               0             0              0.375                                   6.125     ODESSA                                         FL                   33556     Single Family
       16356262               0             0              0.375                                     6.5     JACKSONVILLE                                   FL                   32225     PUD
       16356263               0             0              0.375                                   7.875     HOMESTEAD                                      FL                   33035     PUD
       16356264               0             0              0.375                                   7.375     GROVELAND                                      FL                   34736     PUD
       16356265               0             0              0.375                                   5.875     PLANT CITY                                     FL                   33567     Single Family
       16356266            0.48             0              0.375                                       7     RIVERVIEW                                      FL                   33569     Condominium
       16356267               0             0              0.375                                   6.125     CARTERSVILLE                                   GA                   30121     PUD
       16356268               0             0              0.375                                   5.625     NEW PORT RICHEY                                FL                   34654     PUD
       16356269               0             0              0.375                                       6     MIAMI                                          FL                   33131     Condominium
       16356270               0             0              0.375                                    5.75     LAND O LAKES                                   FL                   34639     PUD
       16356271            0.48             0              0.375                                   6.875     MIRAMAR                                        FL                   33025     PUD
       16356272               0             0              0.375                                   5.375     NEW PORT RCIHEY                                FL                   34654     PUD
       16356273               0             0              0.375                                   5.875     LAWRENCEVILLE                                  GA                   30045     PUD
       16356274            0.48             0              0.375                                       7     LUTZ                                           FL                   33558     PUD
       16356275               0             0              0.375                                   6.625     MIRAMAR                                        FL                   33025     PUD
       16356276               0             0              0.375                                   5.625     ZEPHYRHILLS                                    FL                   33542     Single Family
       16356277               0             0              0.375                                   6.875     ELLENWOOD                                      GA                   30294     PUD
       16356278            0.35             0              0.375                                     6.5     RIVERVIEW                                      FL                   33569     Condominium
       16356279               0             0              0.375                                   5.875     ZEPHYRHILLS                                    FL                   33543     PUD
       16356280               0             0              0.375                                       6     WOODSTOCK                                      GA                   30189     PUD
       16356281               0             0              0.375                                   6.125     MARIETTA                                       GA                   30064     PUD
       16356282               0             0              0.375                                   6.125     JACKSONVILLE                                   FL                   32224     Single Family
       16356283               0             0              0.375                                   6.875     DELRAY BEACH                                   FL                   33445     Condominium
       16356284               0             0              0.375                                   6.875     RIVERVIEW                                      FL                   33569     Condominium
       16356285            0.51             0              0.375                                   7.875     RIVERVIEW                                      FL                   33569     Condominium
       16356286            0.48             0              0.375                                   6.875     PALMETTO                                       FL                   34221     PUD
       16356287               0             0              0.375                                   6.125     MONARCH                                        CO                   81227     Single Family
       16356288               0             0              0.375                                    5.75     CANTON                                         GA                   30114     PUD
       16356289               0             0              0.375                                     6.5     BOCA RATON                                     FL                   33496     PUD
       16356290               0             0              0.375                                   5.875     CRYSTAL RIVER                                  FL                   34428     Single Family
       16356291               0             0              0.375                                       6     WESLEY CHAPEL                                  FL                   33543     PUD
       16356292               0             0              0.375                                     7.5     ALPHARETTA                                     GA                   30005     PUD
       16356293               0             0              0.375                                    5.75     ORLANDO                                        FL                   32836     PUD
       16356294               0             0              0.375                                   5.375     PARKLAND                                       FL                   33076     PUD
       16356222               0             0              0.375                                    6.25     PENSACOLA BEACH                                FL                   32561     Single Family
       16356223               0             0              0.375                                   6.625     WEST PALM BEACH                                FL                   33410     PUD
       16356224               0             0              0.375                                   6.125     MELBOURNE                                      FL                   32940     PUD
       16356225               0             0              0.375                                     6.5     VAIL                                           CO                   81657     Single Family
       16356226               0             0              0.375                                       6     JUPITER                                        FL                   33458     PUD
       16356227            0.48             0              0.375                                       7     HOMESTEAD                                      FL                   33035     PUD
       16356228            0.48             0              0.375                                    7.75     BOYNTON BEACH                                  FL                   33436     PUD
       16356229               0             0              0.375                                   6.375     BRADENTON                                      FL                   34215     PUD
       16356230               0             0              0.375                                   6.125     JACKSONVILLE                                   FL                   32225     Single Family
       16356231               0             0              0.375                                   7.625     HOMESTEAD                                      FL                   33035     PUD
       16356232               0             0              0.375                                   5.625     MIAMI                                          FL                   33157     PUD
       16356234               0             0              0.375                                     5.5     JACKSONVILLE                                   FL                   32246     Condominium
       16356235               0             0              0.375                                   6.375     ORLANDO                                        FL                   32832     Condominium
       16356236               0             0              0.375                                   6.125     JACKSONVILLE                                   FL                   32246     Condominium
       16356237               0             0              0.375                                   6.125     ATLANTA                                        GA                   30327     Single Family
       16356238            0.58             0              0.375                                   6.125     RIVERVIEW                                      FL                   33569     PUD
       16356239               0             0              0.375                                   5.875     DELAND                                         FL                   32724     PUD
       16356240               0             0              0.375                                       6     ATLANTA                                        GA                   30319     Single Family
       16356241               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33486     Condominium
       16356242               0             0              0.375                                       7     JACKSONVILLE                                   FL                   32246     Condominium
       16356243               0             0              0.375                                    6.25     MAITLAND                                       FL                   32751     Single Family
       16356244               0             0              0.375                                    5.25     DECATUR                                        GA                   30030     Single Family
       16356246               0             0              0.375                                   6.625     TAMPA                                          FL                   33629     Single Family
       16356250               0             0              0.375                                   6.625     HOMESTEAD                                      FL                   33035     PUD
       16356251               0             0              0.375                                    7.25     GROVELAND                                      FL                   34736     PUD
       16356252               0             0              0.375                                       6     LAND O LAKES                                   FL                   34638     Single Family
       16356373               0             0              0.375                                   6.375     MIAMI                                          FL                   33122     Condominium
       16356374               0             0              0.375                                   5.375     SMYRNA                                         GA                   30080     PUD
       16356375               0             0              0.375                                     6.5     CORAL SPRINGS                                  FL                   33067     Condominium
       16356376            0.48             0              0.375                                    7.25     FORT LAUDERDALE                                FL                   33315     PUD
       16356377               0             0              0.375                                   5.875     DACULA                                         GA                   30019     PUD
       16356378               0             0              0.375                                    5.75     SUWANEE                                        GA                   30024     PUD
       16356379               0             0              0.375                                   6.125     NAPLES                                         FL                   34109     PUD
       16356380               0             0              0.375                                   5.875     WEST PALM BEACH                                FL                   33407     Condominium
       16356381               0             0              0.375                                   5.625     JACKSONVILLE BEACH                             FL                   32250     Single Family
       16356382            0.64             0              0.375                                       7     HOSCHTON                                       GA                   30548     PUD
       16356383               0             0              0.375                                   6.625     DELRAY BEACH                                   FL                   33484     PUD
       16356384               0             0              0.375                                   6.125     MIAMI BEACH                                    FL                   33140     Single Family
       16356385               0             0              0.375                                   6.125     LAND O' LAKES                                  FL                   34639     PUD
       16356386               0             0              0.375                                       6     FT MYERS                                       FL                   33912     Condominium
       16356387               0             0              0.375                                   6.125     ALPHARETTA                                     GA                   30004     PUD
       16356389               0             0              0.375                                   5.875     WOODSTOCK                                      GA                   30188     PUD
       16356390               0             0              0.375                                   5.875     MABLETON                                       GA                   30126     PUD
       16356391               0             0              0.375                                   6.125     KENNESAW                                       GA                   30152     Single Family
       16356392               0             0              0.375                                       6     TAMPA                                          FL                   33611     PUD
       16356393               0             0              0.375                                    6.25     INDIAN SHORES                                  FL                   33785     Condominium
       16356394               0             0              0.375                                    6.25     PARKLAND                                       FL                   33076     PUD
       16356395               0             0              0.375                                   5.875     TAMARAC                                        FL                   33321     Condominium
       16356396               0             0              0.375                                       6     ACWORTH                                        GA                   30101     PUD
       16356397               0             0              0.375                                   6.125     DELRAY BEACH                                   FL                   33483     PUD
       16356398               0             0              0.375                                   5.875     TEQUESTA                                       FL                   33458     Single Family
       16356399               0             0              0.375                                    5.75     ATLANTA                                        GA                   30349     PUD
       16356400               0             0              0.375                                   6.125     ORLANDO                                        FL                   32839     Condominium
       16356401               0             0              0.375                                   6.125     OVIEDO                                         FL                   32766     PUD
       16356402               0             0              0.375                                    5.75     DULUTH                                         GA                   30097     PUD
       16356403               0             0              0.375                                    6.25     DULUTH                                         GA                   30097     PUD
       16356404               0             0              0.375                                   5.875     ATLANTA                                        GA                   30319     Single Family
       16356405               0             0              0.375                                   6.125     WAKE FOREST                                    NC                   27587     PUD
       16356406               0             0              0.375                                   6.125     WEST PALM BEACH                                FL                   33413     PUD
       16356407               0             0              0.375                                       6     OXFORD                                         GA                   30054     Single Family
       16356408               0             0              0.375                                    6.75     NAPLES                                         FL                   34112     Condominium
       16356409               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33431     Condominium
       16356410               0             0              0.375                                    6.25     PARKLAND                                       FL                   33076     PUD
       16356411               0             0              0.375                                       6     ATLANTA                                        GA                   30327     Single Family
       16356412            0.45             0              0.375                                       7     DELRAY BEACH                                   FL                   33444     Condominium
       16356413               0             0              0.375                                   5.875     CUMMING                                        GA                   30041     PUD
       16356414               0             0              0.375                                    7.25     NAPLES                                         FL                   34119     PUD
       16356415               0             0              0.375                                       6     WOODSTOCK                                      GA                   30188     PUD
       16356416               0             0              0.375                                       6     ATLANTA                                        GA                   30316     Condominium
       16356417               0             0              0.375                                   5.875     CHARLOTTE                                      NC                   28209     Condominium
       16356419               0             0              0.375                                   6.125     TAMPA                                          FL                   33647     PUD
       16356420               0             0              0.375                                   5.875     PARKLAND                                       FL                   33076     PUD
       16356421               0             0              0.375                                   6.125     SEFFNER                                        FL                   33584     PUD
       16356422               0             0              0.375                                    7.25     JACKSONVILLE                                   FL                   32218     PUD
       16356423               0             0              0.375                                    5.75     GAINESVILLE                                    GA                   30506     Single Family
       16356424               0             0              0.375                                    7.75     WEST PALM BEACH                                FL                   33401     Condominium
       16356425               0             0              0.375                                   6.125     WOODSTOCK                                      GA                   30188     PUD
       16356426               0             0              0.375                                       6     MARIETTA                                       GA                   30064     Single Family
       16356427               0             0              0.375                                   6.125     PLANT CITY                                     FL                   33566     Single Family
       16356428               0             0              0.375                                   5.875     OXFORD                                         GA                   30054     Single Family
       16356429               0             0              0.375                                   6.125     FLOWERY BRANCH                                 GA                   30542     PUD
       16356430               0             0              0.375                                   6.125     ATLANTA                                        GA                   30306     PUD
       16356431               0             0              0.375                                       6     FORT LAUDERDALE                                FL                   33332     PUD
       16356432               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33486     PUD
       16356433               0             0              0.375                                    6.25     STONE MOUNTAIN                                 GA                   30087     PUD
       16356434            0.48             0              0.375                                   6.625     TRINITY                                        FL                   34655     PUD
       16356435               0             0              0.375                                   5.875     LITHONIA                                       GA                   30038     PUD
       16356436               0             0              0.375                                   6.125     LAND O'LAKES                                   FL                   34637     PUD
       16356437               0             0              0.375                                       6     WINTER SPRINGS                                 FL                   32708     PUD
       16356438               0             0              0.375                                   6.375     PALM BEACH GARDENS                             FL                   33418     PUD
       16356439               0             0              0.375                                   6.375     DELRAY BEACH                                   FL                   33483     Single Family
       16356440               0             0              0.375                                    5.75     FOUR OAKS                                      NC                   27524     PUD
       16356441               0             0              0.375                                   5.875     BOYNTON BEACH                                  FL                   33435     PUD
       16356442               0             0              0.375                                    6.25     FORT MYERS                                     FL                   33908     Single Family
       16356443               0             0              0.375                                   6.125     DALLAS                                         GA                   30157     PUD
       16356444               0             0              0.375                                       6     STUART                                         FL                   34996     Single Family
       16356445               0             0              0.375                                       6     ALPHARETTA                                     GA                   30005     PUD
       16356446               0             0              0.375                                   6.125     SARASOTA                                       FL                   34234     Single Family
       16356447               0             0              0.375                                       6     GRAYSON                                        GA                   30017     PUD
       16356448               0             0              0.375                                   6.625     CHARLOTTE                                      NC                   28214     Single Family
       16356449               0             0              0.375                                   7.125     VALRICO                                        FL                   33594     PUD
       16356450               0             0              0.375                                   5.875     MOORESVILLE                                    NC                   28117     PUD
       16356451               0             0              0.375                                    5.75     ATLANTA                                        GA                   30306     Condominium
       16356452               0             0              0.375                                   6.125     TAMARAC                                        FL                   33319     PUD
       16356453               0             0              0.375                                   5.875     MARIETTA                                       GA                   30062     PUD
       16356454               0             0              0.375                                   5.875     BOYNTON BEACH                                  FL                   33437     PUD
       16356455               0             0              0.375                                   6.125     ORLANDO                                        FL                   32806     Single Family
       16356456               0             0              0.375                                    5.75     POWDER SPRINGS                                 GA                   30127     PUD
       16356457               0             0              0.375                                    6.25     TAMPA                                          FL                   33609     Single Family
       16356458               0             0              0.375                                   5.875     BOCA RATON                                     FL                   33486     PUD
       16356459               0             0              0.375                                       6     DELRAY BEACH                                   FL                   33446     PUD
       16356460               0             0              0.375                                   6.125     ATHENS                                         GA                   30606     Single Family
       16356461               0             0              0.375                                       6     CORAL SPRINGS                                  FL                   33076     PUD
       16356462               0             0              0.375                                   6.125     PALM HARBOR                                    FL                   34685     PUD
       16356463               0             0              0.375                                   6.125     LARGO                                          FL                   33778     Single Family
       16356464               0             0              0.375                                   5.875     WEDDINGTON                                     NC                   28173     PUD
       16356465               0             0              0.375                                   5.875     ATLANTA                                        GA                   30324     Condominium
       16356466               0             0              0.375                                    6.25     FORT LAUDERDALE                                FL                   33301     Single Family
       16356467            0.48             0              0.375                                   7.375     TAMPA                                          FL                   33607     Condominium
       16356468               0             0              0.375                                   5.875     SUNNY ISLES                                    FL                   33160     Condominium
       16356469               0             0              0.375                                   6.125     TAMPA                                          FL                   33626     PUD
       16356470               0             0              0.375                                   6.125     JACKSONVILLE                                   FL                   32259     PUD
       16356471               0             0              0.375                                    6.75     ST AUGUSTINE                                   FL                   32095     Condominium
       16356472               0             0              0.375                                   6.875     SUNRISE                                        FL                   33351     PUD
       16356473               0             0              0.375                                       6     RALEIGH                                        NC                   27613     PUD
       16356327               0             0              0.375                                       6     DELRAY BEACH                                   FL                   33444     Condominium
       16356328               0             0              0.375                                   6.125     DELRAY BEACH                                   FL                   33444     Condominium
       16356330               0             0              0.375                                    5.25     PALM BEACH GARDENS                             FL                   33418     PUD
       16356331            0.35             0              0.375                                    7.25     ZEPHYRHILLS                                    FL                   33544     PUD
       16356332               0             0              0.375                                   5.875     CANTON                                         GA                   30114     PUD
       16356333               0             0              0.375                                     6.5     SINGER ISLAND                                  FL                   33404     Condominium
       16356334               0             0              0.375                                   6.125     ALTAMONTE SPRINGS                              FL                   32701     Single Family
       16356335               0             0              0.375                                   6.625     PORT SAINT LUCIE                               FL                   34953     Single Family
       16356336               0             0              0.375                                   6.125     WEST PALM BEACH                                FL                   33409     Condominium
       16356337               0             0              0.375                                   5.625     MARIETTA                                       GA                   30062     Single Family
       16356338               0             0              0.375                                   5.875     MARIETTA                                       GA                   30068     PUD
       16356339               0             0              0.375                                   5.625     WATKINSVILLE                                   GA                   30677     Single Family
       16356340               0             0              0.375                                   5.875     NAPLES                                         FL                   34105     Condominium
       16356357               0             0              0.375                                       6     ALPHARETTA                                     GA                   30022     PUD
       16356359               0             0              0.375                                       6     NAPLES                                         FL                   34112     Condominium
       16356360               0             0              0.375                                   6.125     NEW SMYRNA BEACH                               FL                   32169     Condominium
       16356361               0             0              0.375                                    5.75     CHATSWORTH                                     GA                   30705     PUD
       16356362               0             0              0.375                                    6.75     MIAMI BEACH                                    FL                   33139     Condominium
       16356363               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33428     Condominium
       16356364               0             0              0.375                                   6.125     ALPHARETTA                                     GA                   30005     PUD
       16356365               0             0              0.375                                   5.625     SANFORD                                        FL                   32773     Single Family
       16356366               0             0              0.375                                   5.875     TALKING ROCK                                   GA                   30175     Single Family
       16356367               0             0              0.375                                   5.875     MARIETTA                                       GA                   30064     PUD
       16356368               0             0              0.375                                   5.875     KENNESAW                                       GA                   30152     PUD
       16356369               0             0              0.375                                    6.25     DACULA                                         GA                   30019     PUD
       16356371            0.48             0              0.375                                   6.875     LOGANVILLE                                     GA                   30052     PUD
       16356372               0             0              0.375                                       6     LAWRENCEVILLE                                  GA                   30044     PUD
       16356343               0             0              0.375                                    5.75     MARIETTA                                       GA                   30068     PUD
       16356344               0             0              0.375                                   5.875     ATLANTA                                        GA                   30316     Condominium
       16356345               0             0              0.375                                    5.75     GRIFFIN                                        GA                   30224     PUD
       16356346            0.58             0              0.375                                   7.375     WESLEY CHAPEL                                  FL                   33543     PUD
       16356347               0             0              0.375                                     5.5     DECATUR                                        GA                   30033     Single Family
       16356348               0             0              0.375                                    5.75     ORLANDO                                        FL                   32832     PUD
       16356349               0             0              0.375                                   5.875     SUWANEE                                        GA                   30024     PUD
       16356351               0             0              0.375                                   6.125     JACKSONVILLE                                   FL                   32246     Condominium
       16356352               0             0              0.375                                   6.125     MIAMI                                          FL                   33015     PUD
       16356353               0             0              0.375                                       6     BRECKENRIDGE                                   CO                   80424     PUD
       16356354            0.48             0              0.375                                    6.75     DELRAY BEACH                                   FL                   33444     Condominium
       16356355               0             0              0.375                                     5.5     MOORESVILLE                                    NC                   28117     Single Family
       16356356               0             0              0.375                                   6.625     ORLANDO                                        FL                   32817     PUD
       16356295               0             0              0.375                                       7     ORLANDO                                        FL                   32839     Condominium
       16356296               0             0              0.375                                       6     INDIALANTIC                                    FL                   32903     Condominium
       16356297            0.51             0              0.375                                       8     RIVERVIEW                                      FL                   33569     Condominium
       16356298               0             0              0.375                                       6     HOLLYWOOD                                      FL                   33019     Condominium
       16356299               0             0              0.375                                   6.125     CORAL SPRINGS                                  FL                   33076     PUD
       16356300               0             0              0.375                                   6.125     PENSACOLA                                      FL                   32507     Condominium
       16356301               0             0              0.375                                   5.875     CANTON                                         GA                   30115     PUD
       16356302               0             0              0.375                                       6     ALPHARETTA                                     GA                   30022     PUD
       16356303               0             0              0.375                                     7.5     RIVERVIEW                                      FL                   33547     Condominium
       16356304               0             0              0.375                                    7.25     ROSWELL                                        GA                   30075     Condominium
       16356305               0             0              0.375                                     5.5     ATLANTA                                        GA                   30331     PUD
       16356306               0             0              0.375                                   6.125     ATLANTA                                        GA                   30306     Single Family
       16356307               0             0              0.375                                    5.75     SMYRNA                                         GA                   30080     Townhouse
       16356308               0             0              0.375                                   6.125     TUCKER                                         GA                   30084     Townhouse
       16356309               0             0              0.375                                   5.875     LAKE WORTH                                     FL                   33467     PUD
       16356310               0             0              0.375                                       6     ATLANTA                                        GA                   30309     Condominium
       16356311               0             0              0.375                                   6.125     MARGATE                                        FL                   33068     Single Family
       16356312            0.45             0              0.375                                       7     RIVERVIEW                                      FL                   33569     Condominium
       16356313               0             0              0.375                                   6.125     DALLAS                                         GA                   30132     PUD
       16356314            0.48             0              0.375                                   6.625     DALLAS                                         GA                   30157     PUD
       16356315               0             0              0.375                                   5.875     ESTERO                                         FL                   33928     Condominium
       16356317               0             0              0.375                                    5.75     ESTERO                                         FL                   33928     Condominium
       16356319               0             0              0.375                                   6.125     BOCA RATON                                     FL                   33428     Condominium
       16356320               0             0              0.375                                    5.75     ST SIMONS IS                                   GA                   31522     Single Family
       16356321               0             0              0.375                                   8.125     MARGATE                                        FL                   33063     Condominium
       16356322               0             0              0.375                                   5.875     ATLANTA                                        GA                   30327     Single Family
       16356323               0             0              0.375                                       6     MARIETTA                                       GA                   30062     PUD
       16356324               0             0              0.375                                   6.375     GRAYSON                                        GA                   30017     Single Family
       16356325            0.45             0              0.375                                   6.875     DELRAY BEACH                                   FL                   33444     Condominium
       16356326               0             0              0.375                                     5.5     EVANS                                          GA                   30809     PUD
       16357495            0.64             0              0.375                                     7.5     ATLANTA                                        GA                   30316     Single Family
       16357496               0             0              0.375                                     6.5     AVONDALE ESTATES                               GA                   30002     Single Family
       16357497            0.48             0              0.375                                    7.25     JEFFERSON                                      GA                   30549     PUD
       16357498            0.48             0              0.375                                   7.375     TAMPA                                          FL                   33607     Condominium
       16357445            0.58             0              0.375                                     6.5     TREASURE ISLAND                                FL                   33706     Condominium
       16357446               0             0              0.375                                       6     DULUTH                                         GA                   30096     PUD
       16357447            0.48             0              0.375                                    7.25     WAKE FOREST                                    NC                   27587     PUD
       16357448               0             0              0.375                                   5.875     CLERMONT                                       FL                   34711     PUD
       16357449            0.48             0              0.375                                   7.125     ALPHARETTA                                     GA                   30022     Single Family
       16357450               0             0              0.375                                    6.25     CHARLOTTE                                      NC                   28226     Single Family
       16357451            0.58             0              0.375                                   7.375     CONYERS                                        GA                   30094     PUD
       16357452               0             0              0.375                                   6.875     FORT LAUDERDALE                                FL                   33304     Single Family
       16357453               0             0              0.375                                   6.125     MELBOURNE                                      FL                   32903     PUD
       16357454            0.48             0              0.375                                   7.125     DECATUR                                        GA                   30030     Condominium
       16357455            0.26             0              0.375                                    6.75     CUMMING                                        GA                   30040     PUD
       16357456            0.45             0              0.375                                    7.25     TAMPA                                          FL                   33624     Condominium
       16357457            0.48             0              0.375                                     6.5     CUMMING                                        GA                   30040     PUD
       16357458            0.48             0              0.375                                    7.25     DOUGLASVILLE                                   GA                   30135     Single Family
       16357459               0             0              0.375                                    6.75     WEST PALM BEACH                                FL                   33412     PUD
       16357460            0.48             0              0.375                                   7.625     ATLANTA                                        GA                   30310     Single Family
       16357461            0.48             0              0.375                                   7.125     ROCK HILL                                      SC                   29732     PUD
       16357462            0.48             0              0.375                                   7.125     NEW PORT RICHEY                                FL                   34689     Single Family
       16357463               0             0              0.375                                       6     FERNANDINA BEACH                               FL                   32034     PUD
       16357464            0.48             0              0.375                                   7.375     POWDER SPRINGS                                 GA                   30127     PUD
       16357465            0.48             0              0.375                                     7.5     MIAMI                                          FL                   33133     Condominium
       16357466            0.51             0              0.375                                   6.875     DOUGLASVILLE                                   GA                   30135     PUD
       16357467               0             0              0.375                                       6     LAWRENCEVILLE                                  GA                   30045     PUD
       16357468            0.58             0              0.375                                       7     TAMPA                                          FL                   33625     PUD
       16357469            0.48             0              0.375                                   7.125     CANTON                                         GA                   30114     PUD
       16357470            0.58             0              0.375                                     7.5     HAMPTON                                        GA                   30228     PUD
       16357471            0.48             0              0.375                                   7.125     LOGANVILLE                                     GA                   30052     Single Family
       16357472            0.58             0              0.375                                    7.75     TEMPLE                                         GA                   30179     PUD
       16357473            0.36             0              0.375                                   6.625     DALLAS                                         GA                   30157     PUD
       16357474               0             0              0.375                                    5.75     CANTON                                         GA                   30114     Single Family
       16357475            0.45             0              0.375                                       7     LOXAHATCHEE                                    FL                   33470     Single Family
       16357476               0             0              0.375                                    6.25     WINDERMERE                                     FL                   34786     PUD
       16357477               0             0              0.375                                   6.625     SAINT PETERSBURG                               FL                   33703     Single Family
       16357478            0.48             0              0.375                                    7.25     MILNER                                         GA                   30257     PUD
       16357479            0.48             0              0.375                                     6.5     PANAMA CITY                                    FL                   32404     Single Family
       16357480            0.58             0              0.375                                     7.5     TAMPA                                          FL                   33615     Single Family
       16357481            0.58             0              0.375                                    7.25     MARIETTA                                       GA                   30067     Condominium
       16357482            0.48             0              0.375                                       7     ATLANTA                                        GA                   30312     Condominium
       16357483            0.58             0              0.375                                     7.5     SNELLVILLE                                     GA                   30039     PUD
       16357484            0.48             0              0.375                                    7.25     CHARLOTTE                                      NC                   28227     PUD
       16357485               0             0              0.375                                   6.875     ALPHARETTA                                     GA                   30004     PUD
       16357486            0.58             0              0.375                                   7.375     TAMPA                                          FL                   33624     Condominium
       16357487            0.58             0              0.375                                   7.125     POWDER SPRINGS                                 GA                   30127     Single Family
       16357488            0.58             0              0.375                                   7.125     TAMPA                                          FL                   33624     Condominium
       16357489               0             0              0.375                                   5.875     WESTON                                         FL                   33326     PUD
       16357490            0.48             0              0.375                                       7     ROCK HILL                                      SC                   29730     PUD
       16357491               0             0              0.375                                     5.5     ORLANDO                                        FL                   32809     Single Family
       16357492            0.48             0              0.375                                   7.625     ATLANTA                                        GA                   30360     Single Family
       16357493               0             0              0.375                                   6.625     CHARLOTTE                                      NC                   28207     Single Family
       16357494               0             0              0.375                                   6.625     TIERRA VERDE                                   FL                   33715     Single Family
       16357358               0             0              0.375                                   6.625     DOUGLASVILLE                                   GA                   30135     PUD
       16357359               0             0              0.375                                    6.25     MARIETTA                                       GA                   30062     PUD
       16357360               0             0              0.375                                   7.625     MIAMI                                          FL                   33130     Condominium
       16357361               0             0              0.375                                     8.5     LAWRENCEVILLE                                  GA                   30045     PUD
       16357362               0             0              0.375                                     6.5     SAINT AUGUSTINE                                FL                   32095     PUD
       16357363               0             0              0.375                                   5.875     WINDEMERE                                      FL                   34786     PUD
       16357364               0             0              0.375                                   6.125     NAPLES                                         FL                   34110     PUD
       16357365               0             0              0.375                                   5.875     ATLANTA                                        GA                   30349     PUD
       16357366               0             0              0.375                                   6.125     MIAMI                                          FL                   33138     Condominium
       16357367               0             0              0.375                                    5.75     MARIETTA                                       GA                   30060     Single Family
       16357368               0             0              0.375                                   5.875     MONTICELLO                                     GA                   31064     PUD
       16357369               0             0              0.375                                   6.375     GREENSBORO                                     GA                   30642     PUD
       16357370               0             0              0.375                                    5.75     ATLANTA                                        GA                   30318     PUD
       16357371               0             0              0.375                                       6     ODESSA                                         FL                   33556     Single Family
       16357372            0.48             0              0.375                                   6.375     CUMMING                                        GA                   30040     PUD
       16357373               0             0              0.375                                       6     FAYETTEVILLE                                   GA                   30215     PUD
       16357374               0             0              0.375                                    6.25     BELMONT                                        NC                   28012     PUD
       16357375               0             0              0.375                                   5.875     WOODSTOCK                                      GA                   30189     PUD
       16357376               0             0              0.375                                       6     FORT MILL                                      SC                   29708     PUD
       16357377               0             0              0.375                                   5.875     DECATUR                                        GA                   30030     Townhouse
       16357378               0             0              0.375                                   6.125     POMPANO BEACH                                  FL                   33062     Condominium
       16357379               0             0              0.375                                    5.75     LAND O LAKES                                   FL                   34638     PUD
       16357380               0             0              0.375                                   6.125     SMYRNA                                         GA                   30082     Townhouse
       16357381               0             0              0.375                                   5.875     BOGART                                         GA                   30622     PUD
       16357382               0             0              0.375                                   5.875     ATLANTA                                        GA                   30319     Single Family
       16357383               0             0              0.375                                   5.875     DOUGLASVILLE                                   GA                   30134     PUD
       16357384               0             0              0.375                                   6.125     ST CLOUD                                       FL                   34771     PUD
       16357385               0             0              0.375                                   5.875     SUWANEE                                        GA                   30024     PUD
       16357386               0             0              0.375                                       6     PALM BEACH GARDENS                             FL                   33410     PUD
       16357387               0             0              0.375                                       6     ALPHARETTA                                     GA                   30004     PUD
       16357388               0             0              0.375                                   6.125     DAVIE                                          FL                   33330     PUD
       16357389               0             0              0.375                                   6.125     CHARLOTTE                                      NC                   28262     PUD
       16357390               0             0              0.375                                   5.625     CHARLOTTE                                      NC                   28277     Single Family
       16357391               0             0              0.375                                   6.125     BRANDON                                        FL                   33510     PUD
       16357392               0             0              0.375                                     5.5     CARTERSVILLE                                   GA                   30120     Single Family
       16357393            0.58             0              0.375                                       7     CLEARWATER                                     FL                   33764     Condominium
       16357394               0             0              0.375                                   5.875     ATLANTA                                        GA                   30327     Condominium
       16357395            0.58             0              0.375                                    6.75     TALKING ROCK                                   GA                   30175     Single Family
       16357396            0.48             0              0.375                                   6.875     MARIETTA                                       GA                   30008     Single Family
       16357397               0             0              0.375                                     5.5     TAMPA                                          FL                   33629     Single Family
       16357398               0             0              0.375                                   6.125     BOULDER                                        CO                   80303     Condominium
       16357400            0.36             0              0.375                                   6.625     GAINESVILLE                                    GA                   30506     PUD
       16357401               0             0              0.375                                   5.875     TAMPA                                          FL                   33626     PUD
       16357402               0             0              0.375                                     5.5     DELAND                                         FL                   32720     Single Family
       16357403               0             0              0.375                                   6.125     LONGWOOD                                       FL                   32779     PUD
       16357404               0             0              0.375                                       6     MORRISVILLE                                    NC                   27560     PUD
       16357405               0             0              0.375                                   6.125     ORMOND BEACH                                   FL                   32174     PUD
       16357406               0             0              0.375                                       6     NORTH FORT MYERS                               FL                   33917     Single Family
       16357407               0             0              0.375                                   6.125     JUPITER                                        FL                   33478     PUD
       16357408               0             0              0.375                                   5.875     HOLLY SPRINGS                                  NC                   27540     PUD
       16357409               0             0              0.375                                   6.125     ALPHARETTA                                     GA                   30022     PUD
       16357410               0             0              0.375                                       6     COVINGTON                                      GA                   30016     Single Family
       16357411               0             0              0.375                                   6.125     KEY BISCAYNE                                   FL                   33149     Condominium
       16357412               0             0              0.375                                   6.125     WINDERMERE                                     FL                   34786     PUD
       16357413               0             0              0.375                                   6.125     PALM COAST                                     FL                   32137     Condominium
       16357414               0             0              0.375                                       6     CONYERS                                        GA                   30013     PUD
       16357415               0             0              0.375                                   5.875     ACWORTH                                        GA                   30101     PUD
       16357416               0             0              0.375                                   6.125     WINDERMERE                                     FL                   34786     PUD
       16357417               0             0              0.375                                       6     HOMESTEAD                                      FL                   33035     Condominium
       16357418               0             0              0.375                                   6.125     HUNTERSVILLE                                   NC                   28078     PUD
       16357419               0             0              0.375                                   6.125     GRANTVILLE                                     GA                   30220     Single Family
       16357420               0             0              0.375                                       6     PALM COAST                                     FL                   32137     Condominium
       16357421               0             0              0.375                                   5.875     MADISON                                        GA                   30650     PUD
       16357422               0             0              0.375                                       6     SMYRNA                                         GA                   30080     Single Family
       16357423               0             0              0.375                                   6.125     FERNANDINA BEACH                               FL                   32034     Condominium
       16357424               0             0              0.375                                     6.5     ORLANDO                                        FL                   32836     PUD
       16357425               0             0              0.375                                   6.125     405 OAKLAND PARK                               FL                   33309     Condominium
       16357426               0             0              0.375                                   6.125     YORK                                           SC                   29745     Single Family
       16357427            0.58             0              0.375                                    6.75     TALLAHASSEE                                    FL                   32301     Condominium
       16357428            0.48             0              0.375                                    6.75     ALPHARETTA                                     GA                   30004     Condominium
       16357430            0.68             0              0.375                                    7.75     FAIRBURN                                       GA                   30213     PUD
       16357431            0.48             0              0.375                                   7.375     SUWANEE                                        GA                   30024     PUD
       16357432            0.48             0              0.375                                    7.75     CHAMBLEE                                       GA                   30341     Condominium
       16357433            0.48             0              0.375                                   6.625     TRINITY                                        FL                   34655     PUD
       16357434            0.58             0              0.375                                    7.25     POMPANO BEACH                                  FL                   33069     Condominium
       16357435            0.48             0              0.375                                    7.25     ORLANDO                                        FL                   32822     Condominium
       16357436               0             0              0.375                                   6.375     CHARLOTTE                                      NC                   28211     Single Family
       16357437               0             0              0.375                                     6.5     GRAYSON                                        GA                   30017     PUD
       16357438               0             0              0.375                                       6     CHARLOTTE                                      NC                   28211     Single Family
       16357439               0             0              0.375                                    7.75     CLEARWATER                                     FL                   33767     Single Family
       16357440               0             0              0.375                                   6.375     ORLANDO                                        FL                   32836     PUD
       16357441               0             0              0.375                                   7.125     BOYNTON BEACH                                  FL                   33437     PUD
       16357442            0.48             0              0.375                                    7.25     POWDER SPRINGS                                 GA                   30127     PUD
       16357443            0.48             0              0.375                                   6.875     CHARLOTTE                                      NC                   28214     Single Family
       16357444            0.48             0              0.375                                    7.25     ATLANTA                                        GA                   30350     Condominium
       16231295               0             0              0.375                                   5.125     PALO ALTO                                      CA                   94301     Single Family
       16231296               0             0              0.375                                    6.75     SAN DIEGO                                      CA                   92129     PUD
       16231297               0             0              0.375                                   6.875     MILLBRAE                                       CA                   94030     Single Family
       16231298               0             0              0.375                                   5.875     PLEASANTON                                     CA                   94566     Single Family
       16231299               0             0              0.375                                   5.875     LIVERMORE                                      CA                   94551     Condominium
       16231300               0             0              0.375                                       6     MANASSAS                                       VA                   20110     PUD
       16231301               0             0              0.375                                   5.375     PLEASANTON                                     CA                   94588     PUD
       16231302               0             0              0.375                                   4.875     HUNTINGTON BEACH                               CA                   92647     Single Family
       16231303               0             0              0.375                                    6.25     BROOMFIELD                                     CO                   80020     PUD
       16231304               0             0              0.375                                    6.75     SAN JOSE                                       CA                   95111     PUD
       16231305               0             0              0.375                                   5.875     BURLINGAME                                     CA                   94010     Single Family
       16231306               0             0              0.375                                     4.5     ASHBURN                                        VA                   20148     PUD
       16231307               0             0              0.375                                     6.5     SEDONA                                         AZ                   86351     Single Family
       16231308               0             0              0.375                                   5.625     GRANITE BAY                                    CA                   95746     Single Family
       16231309               0             0              0.375                                   5.875     DANA POINT                                     CA                   92629     Single Family
       16231289               0             0              0.375                                   6.625     UPLAND                                         CA                   91786     Single Family
       16231290               0             0              0.375                                       6     CHINO HILLS                                    CA                   91709     Single Family
       16231291               0             0              0.375                                    5.75     DUBLIN                                         CA                   94568     PUD
       16231292               0             0              0.375                                       6     STOCKTON                                       CA                   95212     Single Family
       16231293               0             0              0.375                                       6     SUNNYVALE                                      CA                   94086     2-4 Family
       16231294               0             0              0.375                                   5.875     MILPITAS                                       CA                   95035     Single Family
       16231254               0             0              0.375                                   6.625     ST. LOUIS PARK                                 MN                   55416     Single Family
       16231255               0             0              0.375                                   5.875     MINNEAPOLIS                                    MN                   55418     Single Family
       16231256               0             0              0.375                                   6.125     LAS VEGAS                                      NV                   89144     PUD
       16231257               0             0              0.375                                   5.625     HENDERSON                                      NV                   89012     PUD
       16231258               0             0              0.375                                    5.75     LAS VEGAS                                      NV                   89129     Single Family
       16231259               0             0              0.375                                   5.875     INCLINE VILLAGE                                NV                   89450     Condominium
       16231260               0             0              0.375                                     6.5     LAS VEGAS                                      NV                   89117     PUD
       16231261               0             0              0.375                                       6     HARRISBURG                                     NC                   28075     PUD
       16231262               0             0              0.375                                    6.25     LUTZ                                           FL                   33558     PUD
       16231264               0             0              0.375                                    5.25     MIAMI                                          FL                   33177     Single Family
       16231265               0             0              0.375                                   5.875     PHOENIX                                        AZ                   85051     Single Family
       16231266               0             0              0.375                                    6.25     GILBERT                                        AZ                   85297     PUD
       16231267               0             0              0.375                                   5.875     GLENDALE                                       AZ                   85305     PUD
       16231268               0             0              0.375                                     5.5     BOCA RATON                                     FL                   33433     PUD
       16231269               0             0              0.375                                   5.375     ORLANDO                                        FL                   32828     PUD
       16231270               0             0              0.375                                   5.375     ORLANDO                                        FL                   32828     Single Family
       16231271               0             0              0.375                                    6.75     DEBARY                                         FL                   32713     PUD
       16231272               0             0              0.375                                       6     MIRAMAR                                        FL                   33023     Single Family
       16231273               0             0              0.375                                     5.5     FAIRFAX                                        VA                   22030     PUD
       16231274               0             0              0.375                                       6     BURTONSVILLE                                   MD                   20866     PUD
       16231275               0             0              0.375                                    5.25     FAIRFAX                                        VA                   22030     PUD
       16231276               0             0              0.375                                   5.625     CUMMING                                        GA                   30040     PUD
       16231277               0             0              0.375                                     6.5     BUFFALO GROVE                                  IL                   60089     Condominium
       16231278               0             0              0.375                                    6.25     ST LOUIS                                       MO                   63126     Single Family
       16231280               0             0              0.375                                     6.5     TRAFALGAR                                      IN                   46181     Single Family
       16231281               0             0              0.375                                   5.875     REDMOND                                        WA                   98053     Single Family
       16231282               0             0              0.375                                       6     BELLEVUE                                       WA                   98006     PUD
       16231283               0             0              0.375                                   5.875     SAMMAMISH                                      WA                   98074     PUD
       16231284               0             0              0.375                                   5.625     INDIO                                          CA                   92201     PUD
       16231285               0             0              0.375                                   5.625     DANA POINT                                     CA                   92624     Single Family
       16231286               0             0              0.375                                     5.5     BRENTWOOD                                      CA                   94513     Single Family
       16231287               0             0              0.375                                    6.25     WHITTIER                                       CA                   90603     Single Family
       16231288               0             0              0.375                                   6.375     STOCKTON                                       CA                   95206     Single Family
       16231228               0             0              0.375                                    6.25     SUN CITY                                       CA                   92586     Single Family
       16231229               0             0              0.375                                     6.5     HIGHLAND                                       CA                   92346     PUD
       16231230               0             0              0.375                                     5.5     FOUNTAIN VALLEY                                CA                   92708     Single Family
       16231231               0             0              0.375                                       6     MURRIETA AREA                                  CA                   92563     Single Family
       16231232               0             0              0.375                                   5.875     TEMECULA                                       CA                   92592     PUD
       16231233               0             0              0.375                                    5.25     LIVERMORE                                      CA                   94551     Single Family
       16231234               0             0              0.375                                   6.125     HERCULES                                       CA                   94547     PUD
       16231235               0             0              0.375                                     6.5     LOS ANGELES                                    CA                   91316     Condominium
       16231236               0             0              0.375                                     5.5     EL CAJON                                       CA                   92021     Single Family
       16231237               0             0              0.375                                   5.875     NEWARK                                         CA                   94560     Single Family
       16231238               0             0              0.375                                     5.5     CLAYTON                                        CA                   94517     Single Family
       16231239               0             0              0.375                                     6.5     FARMINGTON                                     UT                   84025     Single Family
       16231240               0             0              0.375                                   6.625     ALPINE                                         UT                   84004     Single Family
       16231241               0             0              0.375                                   6.375     SAINT GEORGE                                   UT                   84790     Single Family
       16231242               0             0              0.375                                    6.25     DENVER                                         CO                   80219     Single Family
       16231243               0             0              0.375                                   5.125     NORTHGLENN                                     CO                   80233     PUD
       16231244               0             0              0.375                                   6.875     FITCHBURG                                      MA                    1420     2-4 Family
       16231245               0             0              0.375                                   6.375     WEST HARTFORD                                  CT                    6117     Single Family
       16231246               0             0              0.375                                    6.75     NORTH ATTLEBORO                                MA                    2760     Single Family
       16231247               0             0              0.375                                    6.25     ROSEVILLE                                      CA                   95747     Single Family
       16231248               0             0              0.375                                       6     SACRAMENTO                                     CA                   95842     Single Family
       16231250               0             0              0.375                                       5     ROSEVILLE                                      CA                   95661     PUD
       16231252               0             0              0.375                                     5.5     OXFORD                                         CT                    6478     Single Family
       16231253               0             0              0.375                                   5.875     MINNETRISTA                                    MN                   55375     PUD
       16231217               0             0              0.375                                   6.375     LAS VEGAS                                      NV                   89138     PUD
       16231218               0             0              0.375                                   5.125     LAS VEGAS                                      NV                   89138     PUD
       16231219               0             0              0.375                                    5.75     MILLBRAE                                       CA                   94030     Single Family
       16231220               0             0              0.375                                     5.5     FORT LAUDERDALE                                FL                   33315     Single Family
       16231221               0             0              0.375                                   5.875     LAKE TAPPS                                     WA                   98391     Single Family
       16231222               0             0              0.375                                   6.125     FEDERAL WAY                                    WA                   98023     Single Family
       16231223               0             0              0.375                                     5.5     EL CAJON                                       CA                   92021     PUD
       16231224               0             0              0.375                                     5.5     ALPINE                                         CA                   91901     Single Family
       16231225               0             0              0.375                                       6     LOS ANGELES                                    CA                   91335     Single Family
       16231226               0             0              0.375                                     6.5     BEAVERTON                                      OR                   97006     Single Family
       16231227               0             0              0.375                                       6     TIGARD                                         OR                   97223     Single Family
       16592923               0             0              0.375                                     6.5     HUNTINGTON BEACH                               CA                   92648     PUD
       16592924               0             0              0.375                                       6     CAMPBELL                                       CA                   95008     Single Family
       16592925               0             0              0.375                                       6     PLEASANTON                                     CA                   94566     Single Family
       16592926               0             0              0.375                                       6     SAN JOSE                                       CA                   95148     Single Family
       16592927               0             0              0.375                                    5.75     SAN JOSE                                       CA                   95138     PUD
       16592928               0             0              0.375                                     6.5     SAN JOSE                                       CA                   95117     PUD
       16592929               0             0              0.375                                    6.75     SAN JOSE                                       CA                   95121     Condominium
       16592930               0             0              0.375                                     6.5     SUNNYVALE                                      CA                   94086     Single Family
       16592931               0             0              0.375                                   6.125     SUNNYVALE                                      CA                   94087     Single Family
       16592932               0             0              0.375                                       6     SANTA ROSA                                     CA                   95403     Single Family
       16592933               0             0              0.375                                       6     HAYWARD                                        CA                   94541     Single Family
       16592934               0             0              0.375                                   5.875     SANTA ROSA                                     CA                   95409     Single Family
       16592882               0             0              0.375                                   6.125     SARATOGA                                       CA                   95070     Condominium
       16592883               0             0              0.375                                    5.75     SAN FRANCISCO                                  CA                   94132     Single Family
       16592884               0             0              0.375                                    5.75     MILL VALLEY                                    CA                   94941     PUD
       16592885               0             0              0.375                                    5.75     TITUSVILLE                                     FL                   32796     PUD
       16592886               0             0              0.375                                   6.625     SPANAWAY                                       WA                   98387     PUD
       16592887               0             0              0.375                                   6.125     BELLEVUE                                       WA                   98006     Single Family
       16592888               0             0              0.375                                     5.5     ALPINE                                         CA                   91901     PUD
       16592889               0             0              0.375                                       6     HAWTHORNE                                      CA                   90250     Single Family
       16592890               0             0              0.375                                    5.25     IRVING                                         TX                   75062     PUD
       16592891               0             0              0.375                                   5.625     LAGO VISTA                                     TX                   78645     PUD
       16592892               0             0              0.375                                     6.5     MOUNTAIN VIEW                                  CA                   94043     Condominium
       16592893               0             0              0.375                                       6     SAN RAMON                                      CA                   94583     Single Family
       16592894               0             0              0.375                                    6.25     SAN LORENZO                                    CA                   94580     PUD
       16592895               0             0              0.375                                     6.5     BENICIA                                        CA                   94510     Condominium
       16592896               0             0              0.375                                    6.25     HIGHLAND                                       UT                   84003     Single Family
       16592897               0             0              0.375                                    6.25     HOME GLEN                                      IL                   60491     Single Family
       16592898               0             0              0.375                                   5.875     STEAMBOAT SPRINGS                              CO                   80487     Single Family
       16592899               0             0              0.375                                       6     TEGA CAY                                       SC                   29708     PUD
       16592900               0             0              0.375                                       6     BELLINGHAM                                     MA                    2019     Single Family
       16592901               0             0              0.375                                    6.25     LIVERMORE                                      CA                   94551     PUD
       16592902               0             0              0.375                                    6.25     SACRAMENTO                                     CA                   95823     Single Family
       16592903               0             0              0.375                                     5.5     EL DORADO HILLS                                CA                   95762     Single Family
       16592904               0             0              0.375                                    5.75     TRACY                                          CA                   95377     Single Family
       16592905               0             0              0.375                                   6.125     TRACY                                          CA                   95304     PUD
       16592906               0             0              0.375                                     6.5     VALLEJO                                        CA                   94589     Single Family
       16592907               0             0              0.375                                    6.25     CASTRO VALLEY                                  CA                   94546     Single Family
       16592908               0             0              0.375                                    6.25     EAST HARTFORD                                  CT                    6118     Single Family
       16592909               0             0              0.375                                   5.125     HENDERSON                                      NV                   89044     PUD
       16592910               0             0              0.375                                       6     TAMPA                                          FL                   33626     PUD
       16592911               0             0              0.375                                       6     SUN CITY                                       AZ                   85351     PUD
       16592912               0             0              0.375                                   6.625     PHOENIX                                        AZ                   85022     Single Family
       16592913               0             0              0.375                                   6.125     CHANDLER                                       AZ                   85249     PUD
       16592914               0             0              0.375                                   6.375     HAYMARKET                                      VA                   20169     PUD
       16592916               0             0              0.375                                       6     INGLEWOOD                                      CA                   90302     Single Family
       16592917               0             0              0.375                                   6.125     SEATTLE                                        WA                   98146     Single Family
       16592918               0             0              0.375                                   6.125     KENT                                           WA                   98032     Condominium
       16592919               0             0              0.375                                    6.25     BELLEVUE                                       WA                   98006     Single Family
       16592920               0             0              0.375                                       6     SEASIDE                                        CA                   93955     Single Family
       16592921               0             0              0.375                                       6     YORBA LINDA                                    CA                   92886     PUD
       16592922               0             0              0.375                                    6.25     BURBANK                                        CA                   91504     Single Family
       16592935               0             0              0.375                                    5.75     FAIRFIELD                                      CA                   94533     Single Family
       16592936               0             0              0.375                                    6.25     FAIRFIELD                                      CA                   94533     Single Family
       16592937               0             0              0.375                                       6     WINDSOR                                        CA                   95492     Single Family
       16592938               0             0              0.375                                   6.125     SEBASTOPOL                                     CA                   95472     Single Family
       16592939               0             0              0.375                                   6.125     WEST BLOOMFIELD                                MI                   48323     Condominium
       16592940               0             0              0.375                                       6     MCLEAN                                         VA                   22312     PUD
       16592941               0             0              0.375                                       6     ELK GROVE                                      CA                   95757     Single Family
       16592942               0             0              0.375                                   6.375     GYPSUM                                         CO                   81637     PUD
       16592943               0             0              0.375                                   6.875     EL MIRAGE                                      AZ                   85335     PUD
       16592944               0             0              0.375                                    6.75     FREMONT                                        CA                   94536     Single Family
       16592945               0             0              0.375                                    6.25     UNIVERSITY PLACE                               WA                   98466     Single Family
       16592946               0             0              0.375                                   5.125     AUSTIN                                         TX                   78746     PUD
       16592947               0             0              0.375                                    6.25     BOULDER                                        CO                   80304     Single Family
       16592948               0             0              0.375                                       6     OXNARD                                         CA                   93035     Single Family
       16592949               0             0              0.375                                     6.5     BOTHELL                                        WA                   98011     PUD
       16592950               0             0              0.375                                   5.875     CHESTER                                        VA                   23831     Single Family
       16592951               0             0              0.375                                   6.375     OVIEDO                                         FL                   32766     PUD
       16232930               0             0              0.375                                   5.375     SANTA ROSA BEACH                               FL                   32459     Condominium
       16232931               0             0              0.375                                     5.5     ATHENS                                         GA                   30601     PUD
       16232933               0             0              0.375                                     5.5     BLUFFTON                                       SC                   29910     PUD
       16232934               0             0              0.375                                       6     FORTSON                                        GA                   31808     Single Family
       16232935               0             0              0.375                                     6.5     SAINT SIMONS ISLAND                            GA                   31522     Condominium
       16232936               0             0              0.375                                    6.25     ROSWELL                                        GA                   30075     PUD
       16232937               0             0              0.375                                   6.125     PONTE VEDRA BEACH                              FL                   32082     Single Family
       16242606               0             0               0.25                                       7     OREGON CITY                                    OR                   97045     Single Family
       16242617               0             0               0.25                                   5.875     SANTA ROSA                                     CA                   95409     Single Family
       16242618               0             0               0.25                                   6.125     COLORADO SPRINGS                               CO                   80906     PUD
       16242620               0             0               0.25                                   6.125     SHAKOPEE                                       MN                   55379     Single Family
       16242621               0             0               0.25                                   6.375     SOUTH SAN FRANCISCO                            CA                   94080     2-4 Family
       16242623               0             0               0.25                                       6     NAPA                                           CA                   94558     Single Family
       16242625               0             0               0.25                                   6.625     PARK CITY                                      UT                   84060     Single Family
       16242626               0             0               0.25                                    6.25     VILLA HILLS                                    KY                   41017     Single Family
       16242627               0             0               0.25                                       6     CHICAGO                                        IL                   60610     Condominium
       16242629               0             0               0.25                                   6.125     ELKO                                           MN                   55020     Single Family
       16242630               0             0               0.25                                   5.625     EDINA                                          MN                   55436     Single Family
       16242634               0             0               0.25                                    6.75     SCOTTSDALE                                     AZ                   85259     Single Family
       16242635               0             0               0.25                                     6.5     SCOTTSDALE                                     AZ                   85262     PUD
       16242636               0             0               0.25                                   7.125     PEORIA                                         AZ                   85383     PUD
       16242637               0             0               0.25                                   6.125     CHARLOTTE                                      NC                   28202     Condominium
       16242638               0             0               0.25                                       6     CLARENDON HILLS                                IL                   60514     Single Family
       16242639               0             0               0.25                                     6.5     CEDAR RAPIDS                                   IA                   52403     Single Family
       16242641               0             0               0.25                                   6.625     SCOTTSDALE                                     AZ                   85255     PUD
       16242642               0             0               0.25                                     6.5     PRESCOTT                                       AZ                   86303     PUD
       16242643               0             0               0.25                                    6.75     DEERFIELD BEACH                                FL                   33442     PUD
       16242644               0             0               0.25                                   6.375     DEEPHAVEN                                      MN                   55391     Single Family
       16242645               0             0               0.25                                    6.25     ESTERO                                         FL                   33928     PUD
       16242646               0             0               0.25                                    6.25     BIRMINGHAM                                     AL                   35243     Single Family
       16242647               0             0               0.25                                   5.625     BIRMINGHAM                                     AL                   35223     PUD
       16242648               0             0               0.25                                    6.75     BLUE SPRINGS                                   MO                   64014     Single Family
       16242649               0             0               0.25                                    5.75     JOPLIN                                         MO                   64804     Single Family
       16242650               0             0               0.25                                   6.375     LECLAIRE                                       IA                   52753     Single Family
       16242653               0             0               0.25                                    5.75     ST LOUIS                                       MO                   63128     Single Family
       16242545               0             0               0.25                                    5.75     SAVAGE                                         MN                   55378     Single Family
       16242547               0             0               0.25                                   6.375     BANNER ELK                                     NC                   28604     Single Family
       16242548               0             0               0.25                                    5.75     CANTON                                         MI                   48188     PUD
       16242549               0             0               0.25                                   5.625     HOLLY SPRINGS                                  NC                   27540     PUD
       16242550               0             0               0.25                                   5.625     BLOOMINGDALE                                   IL                   60108     PUD
       16242552               0             0               0.25                                    6.25     FLAGSTAFF                                      AZ                   86004     Single Family
       16242554               0             0               0.25                                    5.75     DULUTH                                         GA                   30097     PUD
       16242555               0             0               0.25                                    6.75     CORNELIUS                                      NC                   28031     PUD
       16242556               0             0               0.25                                   5.875     BERLIN                                         MD                   21842     PUD
       16242557               0             0               0.25                                   5.875     EDINA                                          MN                   55424     Single Family
       16242558               0             0               0.25                                   5.875     MOUNT AIRY                                     MD                   21771     Single Family
       16242559               0             0               0.25                                    5.75     COLORADO SPRINGS                               CO                   80921     PUD
       16242560               0             0               0.25                                   6.125     GERMANTWON                                     MD                   20874     PUD
       16242561               0             0               0.25                                   5.875     SUNNYVALE                                      CA                   94087     PUD
       16242562               0             0               0.25                                   5.875     SAN RAMON                                      CA                   94583     PUD
       16242564               0             0               0.25                                    6.75     GREENBAY                                       WI                   54313     Single Family
       16242569               0             0               0.25                                    6.25     NAPLES                                         FL                   34108     Condominium
       16242570               0             0               0.25                                    5.25     OMAHA                                          NE                   68136     Single Family
       16242571               0             0               0.25                                   6.375     PUYALLUP                                       WA                   98372     Single Family
       16242572               0             0               0.25                                   6.125     CHICAGO                                        IL                   60601     Condominium
       16242574               0             0               0.25                                   6.625     BRYSON CITY                                    NC                   28713     Single Family
       16242575               0             0               0.25                                   5.875     HILLSBOROUGH                                   NC                   27278     Single Family
       16242576               0             0               0.25                                   6.625     CHICAGO                                        IL                   60618     2-4 Family
       16242578               0             0               0.25                                     6.5     HONOLULU                                       HI                   96826     Condominium
       16242579               0             0               0.25                                    5.75     RAMSEY                                         MN                   55303     Single Family
       16242583               0             0               0.25                                   7.125     EVERETT                                        WA                   98201     Single Family
       16242584               0             0               0.25                                   6.875     SAN DIEGO                                      CA                   92129     Single Family
       16242585               0             0               0.25                                     6.5     ATLANTA                                        GA                   30319     Single Family
       16242586               0             0               0.25                                   6.125     BELLEVUE                                       WA                   98004     Single Family
       16242587               0             0               0.25                                    6.25     MEDINA                                         WA                   98039     Single Family
       16242588               0             0               0.25                                   6.375     BELLEVUE                                       WA                   98004     Condominium
       16242589               0             0               0.25                                   6.375     BELLEVUE                                       WA                   98006     Single Family
       16242590               0             0               0.25                                    6.75     HENDERSON                                      NV                   89011     PUD
       16242591               0             0               0.25                                     6.5     SAN FRANCISCO                                  CA                   94112     Single Family
       16242592               0             0               0.25                                     6.5     SAN RAMON                                      CA                   94583     Single Family
       16242593               0             0               0.25                                     6.5     STOCKTON                                       CA                   95219     Single Family
       16242595               0             0               0.25                                   7.375     TEMECULA                                       CA                   92591     PUD
       16242596               0             0               0.25                                   6.625     ENCINITAS                                      CA                   92024     Single Family
       16242597               0             0               0.25                                     6.5     KETCHUM                                        ID                   83340     PUD
       16242599               0             0               0.25                                    6.25     COQUILLE                                       OR                   97423     Single Family
       16242600               0             0               0.25                                   6.375     OMAHA                                          NE                   68154     Single Family
       16242603               0             0               0.25                                   7.375     VENICE                                         CA                   90291     Single Family
       16242604               0             0               0.25                                   6.625     MODESTO                                        CA                   95356     Single Family
       16242605               0             0               0.25                                    5.75     LAS VEGAS                                      NV                   89149     PUD
       16242607               0             0               0.25                                   6.125     SCOTTSDALE                                     AZ                   85255     Single Family
       16242608               0             0               0.25                                   5.875     SAN DIEGO                                      CA                   92101     Condominium
       16242609               0             0               0.25                                       6     SAN DIEGO                                      CA                   92154     PUD
       16242610               0             0               0.25                                   5.875     LOUISVILLE                                     KY                   40245     Single Family
       16242613               0             0               0.25                                    6.25     WESTON                                         FL                   33331     PUD
       16242614               0             0               0.25                                     6.5     CASTRO VALLEY                                  CA                   94546     Single Family
       16242616               0             0               0.25                                    5.75     MINNEAPOLIS                                    MN                   55415     Condominium
       16242540               0             0               0.25                                       6     SEATTLE                                        WA                   98116     Single Family
       16242541               0             0               0.25                                       6     GENEVA                                         IL                   60134     Single Family
       16242542               0             0               0.25                                    5.75     NORTH OAKS                                     MN                   55127     Single Family
       16242543               0             0               0.25                                   5.875     MARIETTA                                       GA                   30066     Single Family

       LOAN_SEQ          MATURITY_DATE             ORIGINAL_BALANCE                      FIRST_PAY_DATE             LOAN_TO_VALUE     MI                                               MERS_ID1     MARGIN
       16244517                                                       227500                   20060301               62.66999817     No MI                                  100000000000000000           2.25
       16244519                                                       159250                   20060501                        65     No MI                                  100000000000000000           2.25
       16244520                                                       470000                   20060401               55.29000092     No MI                                  100000000000000000           2.25
       16244521                                                       400000                   20060501               49.38000107     No MI                                  100000000000000000           2.25
       16244522                                                       120000                   20060401                        50     No MI                                  100000000000000000           2.25
       16244525                                                        78968                   20060501                        65     No MI                                  100000000000000000           2.25
       16244526                                                        64993                   20060501                        65     No MI                                  100000000000000000           2.25
       16244527                                                       149200                   20060501               64.98000336     No MI                                  100000000000000000           2.25
       16244528                                                       125000                   20060501               24.27000046     No MI                                  100000000000000000           3.25
       16244529                                                       400000                   20060501               40.81999969     No MI                                  100000000000000000           2.25
       16244530                                                        61743                   20060501                        65     No MI                                  100000000000000000           2.25
       16244531                                                        79235                   20060601                        65     No MI                                  100000000000000000           2.25
       16244532                                                       280000                   20060501                        70     No MI                                  100000000000000000           2.25
       16244533                                                       131000                   20060501               64.84999847     No MI                                  100000000000000000           2.25
       16244534                                                       282700                   20060501               64.98999786     No MI                                  100000000000000000           2.25
       16244535                                                       360000                   20060501               65.44999695     No MI                                  100000000000000000           2.25
       16244536                                                       633750                   20060501                        65     No MI                                  100000000000000000           2.25
       16244537                                                       270000                   20060501                        75     No MI                                  100000000000000000           2.25
       16244538                                                       177000                   20060401               63.20999908     No MI                                  100000000000000000           2.25
       16244540                                                       255000                   20060501               58.88999939     No MI                                  100000000000000000              4
       16244541                                                       307500                   20060501               79.98000336     No MI                                  100000000000000000              4
       16244542                                                       115726                   20060601                        90     Republic MIC                           100000000000000000           2.25
       16244543                                                       464000                   20060501                        80     No MI                                  100000000000000000           2.25
       16244544                                                       215000                   20060601               59.72000122     No MI                                  100000000000000000           2.25
       16369989                                                       512000                   20060801               79.01000214     No MI                                  100000000000000000           2.25
       16369992                                                       675000                   20060801               57.93999863     No MI                                  100000000000000000           2.25
       16369996                                                       480000                   20060801               58.18000031     No MI                                  100000000000000000           2.25
       16370000                                                       521000                   20060801               73.90000153     No MI                                  100000000000000000           2.25
       16370011                                                       636000                   20060801                        80     No MI                                  100000000000000000           2.25
       16370030                                                      1396000                   20060801                        80     No MI                                  100000000000000000           2.25
       16370032                                                       540000                   20060801                        75     No MI                                  100000000000000000           2.25
       16370050                                                       706600                   20060801                        75     No MI                                  100000000000000000           2.25
       16370060                                                       505000                   20060801               55.56000137     No MI                                  100000000000000000           2.25
       16370067                                                       850000                   20060801               61.81999969     No MI                                  100000000000000000           2.25
       16370070                                                      1000000                   20060801               70.05000305     No MI                                  100000000000000000           2.25
       16370075                                                       600000                   20060801                        80     No MI                                  100000000000000000           2.25
       16370086                                                       465000                   20060801               66.05000305     No MI                                  100000000000000000           2.25
       16370128                                                       463800                   20060801               79.98999786     No MI                                  100000000000000000           2.25
       16370161                                                       625100                   20060801                        70     No MI                                  100000000000000000           2.25
       16370166                                                       500000                   20060801               58.65000153     No MI                                  100000000000000000           2.25
       16370177                                                       606432                   20060801                        80     No MI                                  100000000000000000           2.25
       16370183                                                       508000                   20060801               72.56999969     No MI                                  100000000000000000           2.25
       16370189                                                       638288                   20060801               77.83999634     No MI                                  100000000000000000           2.25
       16370190                                                       532000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369912                                                       430000                   20060801                        50     No MI                                  100000000000000000           2.25
       16369921                                                       572000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369923                                                       525000                   20060801               73.94000244     No MI                                  100000000000000000           2.25
       16369960                                                       500000                   20060801               70.91999817     No MI                                  100000000000000000           2.25
       16369967                                                       503200                   20060801                        80     No MI                                  100000000000000000           2.25
       16369969                                                       660000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369972                                                       776000                   20060801               68.37000275     No MI                                  100000000000000000           2.25
       16369753                                                       648750                   20060801                        75     No MI                                  100000000000000000           2.25
       16369781                                                       620000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369788                                                       604000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369797                                                       464000                   20060801               76.69000244     No MI                                  100000000000000000           2.25
       16369801                                                       576000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369802                                                       432000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369830                                                       600000                   20060801               68.97000122     No MI                                  100000000000000000           2.25
       16369874                                                       577577                   20060801                        80     No MI                                  100000000000000000           2.25
       16369899                                                       436000                   20060801               64.98000336     No MI                                  100000000000000000           2.25
       16369911                                                       456000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369733                                                       473000                   20060801               65.23999786     No MI                                  100000000000000000           2.25
       16369544                                                       760000                   20060801               73.08000183     No MI                                  100000000000000000           2.25
       16369549                                                       897000                   20060801               66.19999695     No MI                                  100000000000000000           2.25
       16369551                                                       650000                   20060801               59.09000015     No MI                                  100000000000000000           2.25
       16369561                                                       624000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369570                                                       547000                   20060801               65.90000153     No MI                                  100000000000000000           2.25
       16369573                                                       509600                   20060801                        80     No MI                                  100000000000000000           2.25
       16369580                                                       448000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369585                                                       980000                   20060801               75.37999725     No MI                                  100000000000000000           2.25
       16369587                                                       822960                   20060801                        80     No MI                                  100000000000000000           2.25
       16369604                                                       800000                   20060801               53.33000183     No MI                                  100000000000000000           2.25
       16369606                                                       470000                   20060801               47.24000168     No MI                                  100000000000000000           2.25
       16369609                                                       536000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369616                                                       525000                   20060801               67.73999786     No MI                                  100000000000000000           2.25
       16369626                                                       667500                   20060801               76.94999695     No MI                                  100000000000000000           2.25
       16369648                                                       476048                   20060801               76.91000366     No MI                                  100000000000000000           2.25
       16369652                                                      1000000                   20060701               76.91999817     No MI                                  100000000000000000           2.25
       16369654                                                       505165                   20060801                        80     No MI                                  100000000000000000           2.25
       16369667                                                       455200                   20060801                        80     No MI                                  100000000000000000           2.25
       16369674                                                       604000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369690                                                       554700                   20060801               73.66999817     No MI                                  100000000000000000           2.25
       16369691                                                       950000                   20060801               65.51999664     No MI                                  100000000000000000           2.25
       16369700                                                       692000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369703                                                       480000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369721                                                       640000                   20060801               29.77000046     No MI                                  100000000000000000           2.25
       16368713                                                      1967555                   20060301                        80     No MI                                  100000000000000000           2.25
       16368715                                                       699538                   20060801                        80     No MI                                  100000000000000000           2.25
       16368716                                                       520792                   20060701                        80     No MI                                  100000000000000000           2.25
       16368719                                                      1000000                   20060801               57.90000153     No MI                                  100000000000000000           2.25
       16368720                                                       417854                   20060801                        80     No MI                                  100000000000000000           2.25
       16368780                                                       950000                   20060801               73.93000031     No MI                                  100000000000000000           2.25
       16368778                                                       606000                   20060701               73.01000214     No MI                                  100000000000000000           2.25
       16370215                                                       532000                   20060801                        80     No MI                                  100000000000000000           2.25
       16370246                                                       618100                   20060801                        70     No MI                                  100000000000000000           2.25
       16370251                                                       700000                   20060801               27.45000076     No MI                                  100000000000000000           2.25
       16370263                                                       496000                   20060801                        80     No MI                                  100000000000000000           2.25
       16370286                                                       894400                   20060801               75.16000366     No MI                                  100000000000000000           2.25
       16370288                                                       591920                   20060801                        80     No MI                                  100000000000000000           2.25
       16369520                                                       800000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369010                                                       698350                   20060801                        80     No MI                                  100000000000000000           2.25
       16369050                                                       459200                   20060701                        80     No MI                                  100000000000000000           2.25
       16369055                                                       846000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369056                                                       650000                   20060801               45.77000046     No MI                                  100000000000000000           2.25
       16369070                                                       488000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369074                                                       633000                   20060801               54.56999969     No MI                                  100000000000000000           2.25
       16369088                                                       568000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369099                                                       560000                   20060801                        70     No MI                                  100000000000000000           2.25
       16369157                                                       534500                   20060701               79.66000366     No MI                                  100000000000000000           2.25
       16369164                                                       584000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369189                                                       785000                   20060801               42.09000015     No MI                                  100000000000000000           2.25
       16369209                                                       696000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369217                                                      3112500                   20060601               74.11000061     No MI                                  100000000000000000           2.25
       16369225                                                       598500                   20060801                        70     No MI                                  100000000000000000           2.25
       16369226                                                      1000000                   20060801                        59     No MI                                  100000000000000000           2.25
       16369229                                                       600000                   20060801               66.58999634     No MI                                  100000000000000000           2.25
       16369247                                                      1958250                   20060801                        75     No MI                                  100000000000000000           2.25
       16369257                                                      1000000                   20060801                      62.5     No MI                                  100000000000000000           2.25
       16369267                                                       473124                   20060801                        80     No MI                                  100000000000000000           2.25
       16369290                                                       475200                   20060801               49.04000092     No MI                                  100000000000000000           2.25
       16369300                                                       779700                   20060801               57.75999832     No MI                                  100000000000000000           2.25
       16369350                                                       532681                   20060801                        80     No MI                                  100000000000000000           2.25
       16369358                                                       500000                   20060801               55.56000137     No MI                                  100000000000000000           2.25
       16369360                                                       562950                   20060801               62.54999924     No MI                                  100000000000000000           2.25
       16369364                                                       687200                   20060801                        80     No MI                                  100000000000000000           2.25
       16369370                                                      1440000                   20060801                        60     No MI                                  100000000000000000           2.25
       16369391                                                       912000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369393                                                       640000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369408                                                      3275625                   20060701                        75     No MI                                  100000000000000000           2.25
       16369409                                                       589600                   20060801                        80     No MI                                  100000000000000000           2.25
       16369423                                                       468750                   20060801               74.40000153     No MI                                  100000000000000000           2.25
       16369436                                                       596000                   20060801               59.90000153     No MI                                  100000000000000000           2.25
       16369442                                                       450000                   20060801               60.40000153     No MI                                  100000000000000000           2.25
       16369447                                                       588000                   20060801               79.88999939     No MI                                  100000000000000000           2.25
       16369454                                                       453200                   20060801                        80     No MI                                  100000000000000000           2.25
       16369455                                                       511200                   20060801                        80     No MI                                  100000000000000000           2.25
       16369456                                                       695300                   20060801               70.58999634     No MI                                  100000000000000000           2.25
       16369468                                                       552000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369470                                                       509844                   20060801                        80     No MI                                  100000000000000000           2.25
       16369471                                                       750000                   20060801               71.43000031     No MI                                  100000000000000000           2.25
       16369487                                                       440000                   20060801                        80     No MI                                  100000000000000000           2.25
       16369490                                                       510000                   20060801               69.38999939     No MI                                  100000000000000000           2.25
       16369501                                                      1000000                   20060801               72.73000336     No MI                                  100000000000000000           2.25
       16369512                                                      1000000                   20060801               77.51999664     No MI                                  100000000000000000           2.25
       16368798                                                       752000                   20060701                        80     No MI                                  100000000000000000           2.25
       16368817                                                       608000                   20060701                        80     No MI                                  100000000000000000           2.25
       16368827                                                       644000                   20060801                        80     No MI                                  100000000000000000           2.25
       16368829                                                       644000                   20060801                        70     No MI                                  100000000000000000           2.25
       16368849                                                       693440                   20060801                        80     No MI                                  100000000000000000           2.25
       16368861                                                      1000000                   20060801               70.18000031     No MI                                  100000000000000000           2.25
       16368863                                                       566000                   20060801                        80     No MI                                  100000000000000000           2.25
       16368866                                                       904880                   20060701                        80     No MI                                  100000000000000000           2.25
       16368870                                                       825723                   20060801               73.34999847     No MI                                  100000000000000000           2.25
       16368874                                                       575296                   20060801                        80     No MI                                  100000000000000000           2.25
       16368882                                                       638068                   20060801               68.01999664     No MI                                  100000000000000000           2.25
       16368888                                                       766000                   20060801               79.97000122     No MI                                  100000000000000000           2.25
       16368902                                                       693750                   20060801                        75     No MI                                  100000000000000000           2.25
       16368910                                                       488750                   20060801                        85     Triad Guaranty                         100000000000000000           2.25
       16368912                                                       580000                   20060801               71.16999817     No MI                                  100000000000000000           2.25
       16368917                                                       517000                   20060701               68.93000031     No MI                                  100000000000000000           2.25
       16368930                                                       624000                   20060701               79.56999969     No MI                                  100000000000000000           2.25
       16368960                                                       452100                   20060801               78.76000214     No MI                                  100000000000000000           2.25
       16368965                                                       650000                   20060701               68.41999817     No MI                                  100000000000000000           2.25
       16368971                                                       510000                   20060701               53.68000031     No MI                                  100000000000000000           2.25
       16368978                                                       575200                   20060701                        80     No MI                                  100000000000000000           2.25
       16368985                                                       524000                   20060801                        80     No MI                                  100000000000000000           2.25
       16368995                                                       550000                   20060801               78.56999969     No MI                                  100000000000000000           2.25
       16573265                                                       500000                   20060901               76.91999817     No MI                                  100000000000000000           2.25
       16573266                                                       860000                   20060801                        80     No MI                                  100000000000000000           2.25
       16573267                                                       671000                   20060901               68.81999969     No MI                                  100000000000000000           2.25
       16573269                                                       518400                   20060801                        80     No MI                                  100000000000000000           2.25
       16573270                                                       920000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573271                                                       530600                   20060901               54.41999817     No MI                                  100000000000000000           2.75
       16573272                                                      1000000                   20060801               68.97000122     No MI                                  100000000000000000           2.25
       16573274                                                       552000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573275                                                       500000                   20060901               57.13999939     No MI                                  100000000000000000           2.25
       16573276                                                       443000                   20060901               73.83000183     No MI                                  100000000000000000           2.25
       16573277                                                       696000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573278                                                       553500                   20060901                        90     Republic MIC                           100000000000000000           2.25
       16573279                                                       691832                   20060701                        80     No MI                                  100000000000000000           2.25
       16573280                                                       740000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573281                                                      1000000                   20060801               71.43000031     No MI                                  100000000000000000           2.25
       16573282                                                       594904                   20060901                        80     No MI                                  100000000000000000           2.25
       16573283                                                       650000                   20060901               78.30999756     No MI                                  100000000000000000           2.25
       16573284                                                       660000                   20061001               76.73999786     No MI                                  100000000000000000           2.25
       16573285                                                       632000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573286                                                       504000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573287                                                      1500000                   20061001                        60     No MI                                  100000000000000000           2.25
       16573288                                                       548000                   20061001               79.91999817     No MI                                  100000000000000000           2.25
       16573289                                                       975203                   20060801                        75     No MI                                  100000000000000000           2.25
       16598123                                                       623962                   20060901                        75     No MI                                  100000000000000000           2.25
       16598124                                                       477600                   20060901                        80     No MI                                  100000000000000000           2.25
       16598125                                                       440000                   20060901                        80     No MI                                  100000000000000000           2.25
       16598127                                                       900000                   20060901               39.13000107     No MI                                  100000000000000000           2.25
       16598128                                                       440000                   20061001                        80     No MI                                  100000000000000000           2.25
       16598129                                                       450000                   20061001               75.12999725     No MI                                  100000000000000000           2.25
       16573219                                                       620000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573220                                                       649000                   20060901               49.91999817     No MI                                  100000000000000000           2.25
       16573221                                                       430000                   20060901               75.44000244     No MI                                  100000000000000000           2.25
       16573222                                                       422000                   20060901               66.34999847     No MI                                  100000000000000000           2.25
       16573223                                                       640000                   20060901               67.01999664     No MI                                  100000000000000000           2.25
       16573224                                                       686697                   20060901                        80     No MI                                  100000000000000000           2.25
       16573225                                                       638878                   20060901               21.29999924     No MI                                  100000000000000000           2.25
       16573226                                                       650000                   20060701               67.70999908     No MI                                  100000000000000000           2.25
       16573227                                                       555000                   20061001               64.91000366     No MI                                  100000000000000000           2.25
       16573228                                                      1000000                   20061001               72.83000183     No MI                                  100000000000000000           2.25
       16573229                                                       440000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573230                                                       435000                   20061001                      68.5     No MI                                  100000000000000000           2.25
       16573231                                                       514720                   20061001                        80     No MI                                  100000000000000000           2.25
       16573232                                                       555000                   20060901               79.29000092     No MI                                  100000000000000000           2.25
       16573233                                                       548000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573234                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573235                                                       728800                   20061001                        80     No MI                                  100000000000000000           2.25
       16573236                                                       444000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573237                                                       760000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573238                                                       580000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573239                                                       540000                   20061001               37.88999939     No MI                                  100000000000000000           2.25
       16573240                                                       528000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573241                                                       650000                   20061001               78.30999756     No MI                                  100000000000000000           2.25
       16573242                                                       688000                   20061001                        80     No MI                                  100000000000000000           2.25
       16558646                                                       428000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558647                                                       476000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558648                                                       492000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558649                                                       631200                   20060901                        80     No MI                                  100000000000000000           2.25
       16558650                                                       440000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558652                                                       608000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558653                                                       800000                   20060901               73.05999756     No MI                                  100000000000000000           2.25
       16558598                                                       488350                   20060801               79.84999847     No MI                                  100000000000000000           2.25
       16558599                                                       665512                   20060801                        80     No MI                                  100000000000000000           2.25
       16558600                                                       500000                   20060801                        80     No MI                                  100000000000000000           2.25
       16558601                                                       585046                   20060801                        80     No MI                                  100000000000000000           2.25
       16558602                                                       491100                   20060701               79.98999786     No MI                                  100000000000000000           2.25
       16558603                                                       700000                   20060801                        70     No MI                                  100000000000000000           2.25
       16558604                                                      1305000                   20060801                        75     No MI                                  100000000000000000           2.25
       16558605                                                       900000                   20060801                        75     No MI                                  100000000000000000           2.25
       16558606                                                      1000000                   20060801               76.79000092     No MI                                  100000000000000000           2.25
       16558607                                                       592000                   20060701                        80     No MI                                  100000000000000000           2.25
       16558608                                                       580000                   20060901               56.59000015     No MI                                  100000000000000000           2.25
       16558609                                                       462000                   20060901               79.93000031     No MI                                  100000000000000000           2.25
       16558610                                                       650000                   20060901                     79.75     No MI                                  100000000000000000           2.25
       16558611                                                       520000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558612                                                       516914                   20060801                        80     No MI                                  100000000000000000           2.25
       16558613                                                       720000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558614                                                      1000000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558615                                                       483200                   20060901                        80     No MI                                  100000000000000000           2.25
       16558616                                                      1000000                   20060901                        25     No MI                                  100000000000000000           2.25
       16558617                                                       815000                   20060901               72.44000244     No MI                                  100000000000000000           2.25
       16558618                                                      1000000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558619                                                       646875                   20060901                        75     No MI                                  100000000000000000           2.25
       16558620                                                       860000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558621                                                       552000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558622                                                       562400                   20060901                        80     No MI                                  100000000000000000           2.25
       16558623                                                       447000                   20060901               71.06999969     No MI                                  100000000000000000           2.25
       16558624                                                       801500                   20060901               74.55999756     No MI                                  100000000000000000           2.25
       16558625                                                       489600                   20060901                        80     No MI                                  100000000000000000           2.25
       16558626                                                      1500000                   20060901                      62.5     No MI                                  100000000000000000           2.25
       16558627                                                       844000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558628                                                       950000                   20060901               67.86000061     No MI                                  100000000000000000           2.25
       16558629                                                       584315                   20060901               51.93999863     No MI                                  100000000000000000           2.25
       16558630                                                       908000                   20060901               73.23000336     No MI                                  100000000000000000           2.25
       16558631                                                      1000000                   20060901               60.63999939     No MI                                  100000000000000000           2.25
       16558632                                                       650000                   20060901               61.90000153     No MI                                  100000000000000000           2.25
       16558633                                                       524000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558634                                                       752000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558635                                                       576000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558636                                                       620000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558637                                                       578000                   20060901               74.58000183     No MI                                  100000000000000000           2.25
       16558638                                                       466000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558639                                                       484000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558640                                                       650000                   20060901               77.37999725     No MI                                  100000000000000000           2.25
       16558641                                                       650000                   20060901               76.91999817     No MI                                  100000000000000000           2.25
       16558642                                                      1000000                   20060901               71.43000031     No MI                                  100000000000000000           2.25
       16558643                                                       462000                   20060901                        80     No MI                                  100000000000000000           2.25
       16558644                                                       550000                   20060901               41.50999832     No MI                                  100000000000000000           2.25
       16558645                                                       555000                   20060901                        74     No MI                                  100000000000000000           2.25
       16593653                                                       650000                   20061001               49.06000137     No MI                                  100000000000000000           2.25
       16593654                                                       426301                   20061001               71.05000305     No MI                                  100000000000000000           2.25
       16593655                                                       583200                   20061001                        80     No MI                                  100000000000000000           2.25
       16593656                                                       460000                   20061001               69.16999817     No MI                                  100000000000000000           2.25
       16593608                                                       504000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593609                                                      1425000                   20060301                        75     No MI                                  100000000000000000           2.25
       16593610                                                       840000                   20060901               72.26999664     No MI                                  100000000000000000           2.25
       16593611                                                       580000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593613                                                       463050                   20060901               79.98999786     No MI                                  100000000000000000           2.25
       16593614                                                       872000                   20060801               79.26999664     No MI                                  100000000000000000           2.25
       16593615                                                       760000                   20060901               74.69000244     No MI                                  100000000000000000           2.25
       16593616                                                       678500                   20060901               77.54000092     No MI                                  100000000000000000           2.25
       16593618                                                       685094                   20060901                        80     No MI                                  100000000000000000           2.25
       16593619                                                       670000                   20061001               74.44000244     No MI                                  100000000000000000           2.25
       16593620                                                       637500                   20060901                        75     No MI                                  100000000000000000           2.25
       16593621                                                       724000                   20060901                        80     No MI                                  100000000000000000           2.75
       16593622                                                       544000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593623                                                       500000                   20061001               70.81999969     No MI                                  100000000000000000           2.25
       16593624                                                       624000                   20061001               64.45999908     No MI                                  100000000000000000           2.25
       16593625                                                       700000                   20060901               66.04000092     No MI                                  100000000000000000           2.25
       16593626                                                       470000                   20061001               40.16999817     No MI                                  100000000000000000           2.25
       16593628                                                       555000                   20061001               72.08000183     No MI                                  100000000000000000           2.25
       16593629                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593630                                                       620000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593631                                                       532000                   20061001               79.40000153     No MI                                  100000000000000000           2.25
       16593632                                                       550000                   20061001               61.11000061     No MI                                  100000000000000000           2.25
       16593633                                                       475920                   20061001                        80     No MI                                  100000000000000000           2.25
       16593634                                                       899000                   20061001               74.91999817     No MI                                  100000000000000000           2.25
       16593635                                                      1000000                   20061001               67.80000305     No MI                                  100000000000000000           2.25
       16593636                                                       501000                   20061001               70.63999939     No MI                                  100000000000000000           2.25
       16593637                                                      1000000                   20061001               78.43000031     No MI                                  100000000000000000           2.25
       16593638                                                      1153125                   20061001                        75     No MI                                  100000000000000000           2.25
       16593639                                                       592000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593640                                                       575000                   20061001               65.72000122     No MI                                  100000000000000000           2.25
       16593641                                                       435000                   20061001               22.30999947     No MI                                  100000000000000000           2.25
       16593642                                                       600000                   20061001               79.47000122     No MI                                  100000000000000000           2.25
       16593643                                                      1010000                   20061001               42.61999893     No MI                                  100000000000000000           2.25
       16593644                                                       508000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593645                                                       423200                   20061001                        80     No MI                                  100000000000000000           2.25
       16593646                                                       530500                   20061001               59.61000061     No MI                                  100000000000000000           2.25
       16593647                                                       576000                   20061001                        80     No MI                                  100000000000000000           2.25
       16593648                                                      1068750                   20061001                        75     No MI                                  100000000000000000           2.25
       16593650                                                       955000                   20061001               65.86000061     No MI                                  100000000000000000           2.25
       16593651                                                       460000                   20061001               46.93999863     No MI                                  100000000000000000           2.25
       16593652                                                       518000                   20061001               79.94000244     No MI                                  100000000000000000           2.25
       16573257                                                       617600                   20061001               79.95999908     No MI                                  100000000000000000           2.25
       16573258                                                       960000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573259                                                       608000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573260                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573261                                                       764000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573262                                                       431872                   20061001                        80     No MI                                  100000000000000000           2.25
       16573263                                                       542000                   20061001               79.70999908     No MI                                  100000000000000000           2.25
       16573264                                                      1500000                   20061001               70.58999634     No MI                                  100000000000000000           2.25
       16573243                                                      1647000                   20061001               58.81999969     No MI                                  100000000000000000           2.25
       16573244                                                       820000                   20060901                        80     No MI                                  100000000000000000           2.25
       16573245                                                       500000                   20060901               59.52000046     No MI                                  100000000000000000           2.25
       16573246                                                       446985                   20060901                        80     No MI                                  100000000000000000           2.25
       16573247                                                       487000                   20060901               66.70999908     No MI                                  100000000000000000           2.25
       16573248                                                      1000000                   20060901               78.19999695     No MI                                  100000000000000000           2.25
       16573249                                                       713600                   20060901                        80     No MI                                  100000000000000000           2.25
       16573250                                                      1412000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573252                                                      1000000                   20061001               74.66999817     No MI                                  100000000000000000           2.25
       16573253                                                       638000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573254                                                       644000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573255                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16573256                                                       539000                   20061001               72.94000244     No MI                                  100000000000000000           2.25
       16564115                                                       600000                   20060901               44.77999878     No MI                                  100000000000000000           2.25
       16564116                                                       829000                   20060901               55.27000046     No MI                                  100000000000000000           2.25
       16564117                                                       540000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564118                                                       440000                   20060901               69.83999634     No MI                                  100000000000000000           2.25
       16564119                                                       515000                   20060901               72.02999878     No MI                                  100000000000000000           2.25
       16564120                                                       570000                   20060901               69.51000214     No MI                                  100000000000000000           2.25
       16564121                                                       500000                   20060901               68.48999786     No MI                                  100000000000000000           2.25
       16564122                                                       528000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564123                                                       630000                   20060901               76.63999939     No MI                                  100000000000000000           2.25
       16564124                                                       480000                   20060901               63.15999985     No MI                                  100000000000000000           2.25
       16564125                                                        70200                   20060901                        90     PMI                                    100000000000000000          2.875
       16564081                                                       650000                   20060901               53.06000137     No MI                                  100000000000000000           2.25
       16564082                                                       532000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564083                                                       430028                   20060901                        80     No MI                                  100000000000000000           2.25
       16564084                                                      1225000                   20060901               59.75999832     No MI                                  100000000000000000           2.25
       16564063                                                       492000                   20060901               78.09999847     No MI                                  100000000000000000           2.25
       16564064                                                       525600                   20060801                        80     No MI                                  100000000000000000           2.25
       16564065                                                       520000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564066                                                       480000                   20060801                        80     No MI                                  100000000000000000           2.25
       16564067                                                       685000                   20060801               59.56999969     No MI                                  100000000000000000           2.25
       16564068                                                       661000                   20060901               79.16000366     No MI                                  100000000000000000           2.25
       16564069                                                       451950                   20060801                        80     No MI                                  100000000000000000           2.25
       16564070                                                       548000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564071                                                       909712                   20060901                        80     No MI                                  100000000000000000           2.25
       16564072                                                       531437                   20060901                        80     No MI                                  100000000000000000           2.25
       16564073                                                       650000                   20060901               65.66000366     No MI                                  100000000000000000           2.25
       16564074                                                       576000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564075                                                       585000                   20060901               70.05999756     No MI                                  100000000000000000           2.25
       16564076                                                       479000                   20060801               61.49000168     No MI                                  100000000000000000           2.25
       16564078                                                       446004                   20060801                        80     No MI                                  100000000000000000           2.25
       16564079                                                       520000                   20060901               72.12000275     No MI                                  100000000000000000           2.25
       16564080                                                       575000                   20060901               62.84000015     No MI                                  100000000000000000           2.25
       16564039                                                       650000                   20060901               59.09000015     No MI                                  100000000000000000           2.25
       16564040                                                       980000                   20060701               70.83000183     No MI                                  100000000000000000           2.25
       16564041                                                       476500                   20060701               79.98999786     No MI                                  100000000000000000           2.25
       16564042                                                      1250000                   20060801               76.91999817     No MI                                  100000000000000000           2.25
       16564043                                                       569050                   20060801                        80     No MI                                  100000000000000000           2.25
       16564044                                                       880000                   20060801                     68.75     No MI                                  100000000000000000           2.25
       16564045                                                       519900                   20060801               79.98999786     No MI                                  100000000000000000           2.25
       16564046                                                       463466                   20060901                        80     No MI                                  100000000000000000           2.25
       16564047                                                       447300                   20060901                        80     No MI                                  100000000000000000           2.25
       16564048                                                       454098                   20060901                        80     No MI                                  100000000000000000           2.25
       16564049                                                       462058                   20060901                        80     No MI                                  100000000000000000           2.25
       16564050                                                       625600                   20060901                        80     No MI                                  100000000000000000           2.25
       16564051                                                      1500000                   20060501               68.97000122     No MI                                  100000000000000000           2.25
       16564052                                                       514448                   20060901                        80     No MI                                  100000000000000000           2.25
       16564053                                                       447200                   20060801                        80     No MI                                  100000000000000000           2.25
       16564054                                                       750000                   20060801               70.41999817     No MI                                  100000000000000000           2.25
       16564055                                                       765000                   20060801               65.58000183     No MI                                  100000000000000000           2.25
       16564056                                                       700000                   20060901               79.55000305     No MI                                  100000000000000000           2.25
       16564057                                                       448000                   20060801               58.18000031     No MI                                  100000000000000000           2.25
       16564058                                                       554400                   20060801                        80     No MI                                  100000000000000000           2.25
       16564059                                                       500000                   20060801               52.63000107     No MI                                  100000000000000000           2.25
       16564060                                                       516000                   20060801                        80     No MI                                  100000000000000000           2.25
       16564061                                                       936000                   20060801                        80     No MI                                  100000000000000000           2.25
       16564062                                                       500000                   20060901               63.13000107     No MI                                  100000000000000000           2.25
       16564091                                                       807000                   20060901                     67.25     No MI                                  100000000000000000           2.25
       16564092                                                       457718                   20060901                        80     No MI                                  100000000000000000           2.25
       16564093                                                       427000                   20060901               60.56999969     No MI                                  100000000000000000           2.25
       16564094                                                       560000                   20060901                        70     No MI                                  100000000000000000           2.25
       16564095                                                       455000                   20060901               66.91000366     No MI                                  100000000000000000           2.25
       16564096                                                       523000                   20060901               61.88999939     No MI                                  100000000000000000           2.25
       16564097                                                       600000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564098                                                       479500                   20060901                        70     No MI                                  100000000000000000           2.25
       16564099                                                       572000                   20060801               64.26999664     No MI                                  100000000000000000           2.25
       16564100                                                       644000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564101                                                       558000                   20060901               72.61000061     No MI                                  100000000000000000           2.25
       16564102                                                       490000                   20060901                        70     No MI                                  100000000000000000           2.25
       16564103                                                      1190000                   20060901                        70     No MI                                  100000000000000000           2.25
       16564104                                                       843900                   20060901               64.91999817     No MI                                  100000000000000000           2.25
       16564105                                                       592000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564106                                                       796000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564107                                                       512000                   20060901                        80     No MI                                  100000000000000000           2.25
       16564108                                                       608000                   20060901               52.86999893     No MI                                  100000000000000000           2.25
       16564110                                                       442000                   20060901               60.97000122     No MI                                  100000000000000000           2.25
       16564111                                                       583500                   20060901               64.19000244     No MI                                  100000000000000000           2.25
       16564112                                                       423500                   20060901                        70     No MI                                  100000000000000000           2.25
       16564113                                                       421200                   20060901                        80     No MI                                  100000000000000000           2.25
       16564114                                                       889000                   20060901               69.18000031     No MI                                  100000000000000000           2.25
       16564085                                                       601500                   20060801               76.13999939     No MI                                  100000000000000000           2.25
       16564086                                                       567000                   20060901               54.84000015     No MI                                  100000000000000000           2.25
       16564087                                                       735000                   20060901               79.88999939     No MI                                  100000000000000000           2.25
       16564088                                                       715000                   20060901               77.72000122     No MI                                  100000000000000000           2.25
       16564089                                                       540000                   20060901                      67.5     No MI                                  100000000000000000           2.25
       16633710                                                    673689.41                   20060901               79.26000214     No MI                                  100000000000000000           2.25
       16647980                                                       561000                   20061101               66.30999756     No MI                                  100000000000000000           2.25
       16647982                                                       544000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647983                                                       720000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647984                                                       421000                   20061101               79.88999939     No MI                                  100000000000000000           2.25
       16647985                                                       480000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647986                                                       560000                   20061101               78.87000275     No MI                                  100000000000000000           2.25
       16647987                                                       588000                   20061101                        70     No MI                                  100000000000000000           2.25
       16647988                                                       590400                   20061101                        80     No MI                                  100000000000000000           2.25
       16647989                                                       547240                   20061101                        80     No MI                                  100000000000000000           2.25
       16647990                                                      1000000                   20061101               61.54000092     No MI                                  100000000000000000           2.25
       16647917                                                       542000                   20061101               52.61999893     No MI                                  100000000000000000           2.25
       16647918                                                       469250                   20061101               69.51999664     No MI                                  100000000000000000           2.25
       16647919                                                       418000                   20061101               87.08000183     PMI                                    100000000000000000           2.75
       16647920                                                       625000                   20061101               79.62000275     No MI                                  100000000000000000           2.25
       16647921                                                       500000                   20061101               66.23000336     No MI                                  100000000000000000           2.25
       16647922                                                       716000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647923                                                       524000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647924                                                       550000                   20061101                     61.25     No MI                                  100000000000000000           2.25
       16647925                                                       512000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647926                                                       576000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647927                                                       512000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647928                                                       628500                   20061101               62.97999954     No MI                                  100000000000000000           2.25
       16647929                                                       457500                   20061101               78.20999908     No MI                                  100000000000000000           2.25
       16647930                                                       782500                   20061001                     78.25     No MI                                  100000000000000000           2.25
       16647931                                                       441000                   20061101               64.84999847     No MI                                  100000000000000000           2.25
       16647932                                                       456000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647933                                                       423200                   20061001                        80     No MI                                  100000000000000000           2.25
       16647934                                                       560000                   20061101               75.16999817     No MI                                  100000000000000000           2.25
       16647935                                                       551200                   20061101                        80     No MI                                  100000000000000000           2.25
       16647936                                                      1000000                   20061101               79.37000275     No MI                                  100000000000000000           2.25
       16647937                                                       937500                   20061101                        75     No MI                                  100000000000000000           2.25
       16647939                                                       532000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647940                                                       489600                   20061101                        80     No MI                                  100000000000000000           2.25
       16647941                                                       476000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647942                                                       620000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647943                                                       766980                   20061101                        80     No MI                                  100000000000000000           2.25
       16647944                                                       444000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647945                                                       799488                   20061101               66.62000275     No MI                                  100000000000000000           2.25
       16647946                                                       491600                   20061101                        80     No MI                                  100000000000000000           2.25
       16647947                                                       840000                   20061101                        75     No MI                                  100000000000000000           2.25
       16647948                                                       662400                   20061101                        80     No MI                                  100000000000000000           2.25
       16647949                                                       519000                   20061101               75.76999664     No MI                                  100000000000000000           2.25
       16647950                                                      1000000                   20061101               55.56000137     No MI                                  100000000000000000           2.25
       16647951                                                       733520                   20061101                        80     No MI                                  100000000000000000           2.25
       16647952                                                       620200                   20061101                        70     No MI                                  100000000000000000           2.25
       16647953                                                       488000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647954                                                       439000                   20061101               61.83000183     No MI                                  100000000000000000           2.25
       16647955                                                      1000000                   20061101               79.94000244     No MI                                  100000000000000000           2.25
       16647956                                                       630000                   20061101                        70     No MI                                  100000000000000000           2.25
       16647957                                                       445000                   20061101               64.95999908     No MI                                  100000000000000000           2.25
       16647958                                                       910000                   20061101               66.18000031     No MI                                  100000000000000000           2.25
       16647959                                                       436000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647960                                                       654500                   20061101                        77     No MI                                  100000000000000000           2.25
       16647961                                                       600800                   20061101               79.47000122     No MI                                  100000000000000000           2.25
       16647962                                                       680000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647963                                                       540000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647964                                                       528000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647965                                                       430000                   20061101               76.79000092     No MI                                  100000000000000000           2.25
       16647966                                                       728000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647967                                                       465000                   20061101               76.86000061     No MI                                  100000000000000000           2.25
       16647968                                                       447000                   20061101               62.95999908     No MI                                  100000000000000000           2.25
       16647969                                                       445000                   20061101               74.79000092     No MI                                  100000000000000000           2.25
       16647970                                                       479992                   20061101                        80     No MI                                  100000000000000000           2.25
       16647971                                                       580000                   20061101               56.86000061     No MI                                  100000000000000000           2.25
       16647972                                                       584500                   20061101                        70     No MI                                  100000000000000000           2.25
       16647973                                                       429920                   20061101                        80     No MI                                  100000000000000000           2.25
       16647974                                                       486400                   20061101                        80     No MI                                  100000000000000000           2.25
       16647975                                                       594000                   20061101                        90     Republic MIC                           100000000000000000          2.875
       16647976                                                       482500                   20061101               74.51999664     No MI                                  100000000000000000           2.25
       16647977                                                       760000                   20061101                        76     No MI                                  100000000000000000           2.25
       16647978                                                       447000                   20061101               78.83999634     No MI                                  100000000000000000           2.25
       16647979                                                       574400                   20061101                        80     No MI                                  100000000000000000           2.25
       16647900                                                       485836                   20061101               69.30999756     No MI                                  100000000000000000           2.25
       16647901                                                       889214                   20061001               68.40000153     No MI                                  100000000000000000           2.25
       16647902                                                      1000000                   20061101               64.94000244     No MI                                  100000000000000000           2.25
       16647903                                                       700000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647904                                                       656000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647905                                                      1000000                   20061101               75.30000305     No MI                                  100000000000000000           2.25
       16647906                                                       544000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647907                                                       491250                   20061101                        75     No MI                                  100000000000000000           2.25
       16647908                                                       551000                   20061101               63.22000122     No MI                                  100000000000000000           2.25
       16647909                                                       441600                   20061101                        80     No MI                                  100000000000000000           2.25
       16647910                                                       476000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647911                                                       466000                   20061101               77.66999817     No MI                                  100000000000000000           2.25
       16647912                                                       700000                   20061101               54.15999985     No MI                                  100000000000000000           2.25
       16647913                                                       532000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647914                                                       925000                   20061101               79.05999756     No MI                                  100000000000000000           2.25
       16647915                                                       460000                   20061101               66.19000244     No MI                                  100000000000000000           2.25
       16647916                                                       450000                   20061101               78.94999695     No MI                                  100000000000000000           2.25
       16633750                                                       573650                   20061001                        80     No MI                                  100000000000000000           2.25
       16633913                                                       424000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633751                                                       592021                   20061001                        80     No MI                                  100000000000000000           2.25
       16633914                                                      1376250                   20061001                        75     No MI                                  100000000000000000           2.25
       16633752                                                       565000                   20061001               79.58000183     No MI                                  100000000000000000           2.25
       16633753                                                       754400                   20061001                        80     No MI                                  100000000000000000           2.25
       16633915                                                      1000000                   20061101               60.79000092     No MI                                  100000000000000000           2.25
       16633916                                                       905800                   20061001                        80     No MI                                  100000000000000000           2.25
       16633754                                                       676000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633917                                                      1000000                   20061001               61.45999908     No MI                                  100000000000000000           2.25
       16633755                                                       478000                   20061001               79.66999817     No MI                                  100000000000000000           2.25
       16633918                                                       462990                   20061001                        80     No MI                                  100000000000000000           2.25
       16633756                                                       492000                   20061001               70.29000092     No MI                                  100000000000000000           2.25
       16633919                                                       560000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633757                                                       500000                   20061001               56.18000031     No MI                                  100000000000000000           2.25
       16633758                                                       472000                   20060901               79.33000183     No MI                                  100000000000000000           2.25
       16633759                                                       540000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633920                                                       460000                   20061001               74.80000305     No MI                                  100000000000000000           2.25
       16633921                                                       572000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633760                                                       448000                   20061001               79.86000061     No MI                                  100000000000000000           2.25
       16633922                                                       472000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633761                                                       608000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633923                                                      1858600                   20061001               49.56000137     No MI                                  100000000000000000           2.25
       16633762                                                       448000                   20061001               78.59999847     No MI                                  100000000000000000           2.25
       16633924                                                       650000                   20061001               77.08999634     No MI                                  100000000000000000           2.25
       16633763                                                       575200                   20061001               78.79000092     No MI                                  100000000000000000           2.25
       16633925                                                       564000                   20061001               75.19999695     No MI                                  100000000000000000           2.25
       16633764                                                       816000                   20061001               76.38999939     No MI                                  100000000000000000           2.25
       16633926                                                       492000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633765                                                       747000                   20061001               79.55000305     No MI                                  100000000000000000           2.25
       16633927                                                       590600                   20061001               59.65999985     No MI                                  100000000000000000           2.25
       16633766                                                       611050                   20061001                        80     No MI                                  100000000000000000           2.25
       16633928                                                       576000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633929                                                       420000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633768                                                       465600                   20060701                        80     No MI                                  100000000000000000           2.25
       16633769                                                       528000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633930                                                       900000                   20061001               62.06999969     No MI                                  100000000000000000           2.25
       16633931                                                       471920                   20061001                        80     No MI                                  100000000000000000           2.25
       16633932                                                       484000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633770                                                       592000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633771                                                      1000000                   20060901               72.73000336     No MI                                  100000000000000000           2.25
       16633933                                                       520000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633934                                                       515005                   20061001                        80     No MI                                  100000000000000000           2.25
       16633772                                                       467000                   20061001               76.55999756     No MI                                  100000000000000000           2.25
       16633773                                                       806923                   20061001                        80     No MI                                  100000000000000000           2.25
       16633935                                                       650000                   20061101               79.26999664     No MI                                  100000000000000000           2.25
       16633774                                                       650000                   20061001               78.65000153     No MI                                  100000000000000000           2.25
       16633936                                                       880000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633937                                                       810000                   20061101                        75     No MI                                  100000000000000000           2.25
       16633938                                                       594400                   20061001                        80     No MI                                  100000000000000000           2.25
       16633776                                                       472000                   20060901                        80     No MI                                  100000000000000000           2.25
       16633939                                                      1000000                   20061001               74.06999969     No MI                                  100000000000000000           2.25
       16633777                                                       500000                   20060901                        80     No MI                                  100000000000000000           2.25
       16633778                                                       620000                   20061001               77.98999786     No MI                                  100000000000000000           2.25
       16633940                                                       513600                   20061001                        80     No MI                                  100000000000000000           2.25
       16633941                                                       800000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633780                                                       625900                   20061001                        80     No MI                                  100000000000000000           2.25
       16633943                                                       740000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633781                                                       435000                   20061001               68.66999817     No MI                                  100000000000000000           2.25
       16633782                                                       429450                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16633944                                                       476800                   20061101                        80     No MI                                  100000000000000000           2.25
       16633945                                                       535000                   20061101               79.61000061     No MI                                  100000000000000000           2.25
       16633783                                                       452400                   20061101                        65     No MI                                  100000000000000000           2.25
       16633784                                                       650000                   20061001               77.19999695     No MI                                  100000000000000000           2.25
       16633946                                                       650000                   20061101               53.70000076     No MI                                  100000000000000000           2.25
       16633947                                                       632000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633785                                                       535200                   20061101                        80     No MI                                  100000000000000000           2.25
       16633786                                                       496000                   20060701                        80     No MI                                  100000000000000000           2.25
       16633948                                                       457500                   20061101                        75     No MI                                  100000000000000000           2.25
       16633787                                                       650000                   20061001               78.79000092     No MI                                  100000000000000000           2.25
       16633949                                                       486500                   20061101                      69.5     No MI                                  100000000000000000           2.25
       16633788                                                      1500000                   20061001               47.02000046     No MI                                  100000000000000000           2.25
       16633789                                                       570000                   20061001               42.22000122     No MI                                  100000000000000000           2.25
       16633790                                                       474692                   20061001                        80     No MI                                  100000000000000000           2.25
       16633791                                                       436000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633792                                                       512000                   20061001               79.98000336     No MI                                  100000000000000000           2.25
       16633793                                                      1070000                   20061001               46.52000046     No MI                                  100000000000000000           2.25
       16633794                                                       624000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633795                                                       490234                   20061101                        80     No MI                                  100000000000000000           2.25
       16633796                                                       650000                   20061001               70.04000092     No MI                                  100000000000000000           2.25
       16633797                                                       628000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633798                                                       713000                   20061001               73.12999725     No MI                                  100000000000000000           2.25
       16633799                                                       520000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633709                                                    469846.71                   20060801               94.91999817     Radian Guaranty                        100000000000000000           2.25
       16633712                                                       741839                   20060801                        80     No MI                                  100000000000000000           2.25
       16633713                                                       500944                   20061001                        80     No MI                                  100000000000000000           2.25
       16633714                                                       650000                   20060901               77.01999664     No MI                                  100000000000000000           2.25
       16633715                                                      1200000                   20061001               72.73000336     No MI                                  100000000000000000           2.25
       16633716                                                       526000                   20061001               61.88000107     No MI                                  100000000000000000           2.25
       16633717                                                       688000                   20060801                        80     No MI                                  100000000000000000           2.25
       16633718                                                      1000000                   20060901                        80     No MI                                  100000000000000000           2.25
       16633719                                                       466691                   20060901                        80     No MI                                  100000000000000000           2.25
       16633720                                                       512000                   20060901                        80     No MI                                  100000000000000000           2.25
       16633721                                                      1200000                   20061001                        75     No MI                                  100000000000000000           2.25
       16633722                                                       879200                   20061001                        80     No MI                                  100000000000000000           2.25
       16633723                                                       637600                   20060901                        80     No MI                                  100000000000000000           2.25
       16633724                                                       532000                   20060801                        80     No MI                                  100000000000000000           2.25
       16633725                                                       431000                   20060901               82.09999847     United Guaranty                        100000000000000000           2.25
       16633726                                                       474000                   20060901               67.70999908     No MI                                  100000000000000000           2.25
       16647891                                                       433600                   20061101                        80     No MI                                  100000000000000000           2.25
       16647892                                                       500000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647893                                                       629200                   20061101                        80     No MI                                  100000000000000000           2.25
       16647895                                                       636000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647896                                                       649500                   20061101               79.69000244     No MI                                  100000000000000000           2.25
       16647897                                                       552000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647898                                                       590000                   20061101               88.05999756     Triad Guaranty                         100000000000000000           2.75
       16647899                                                       550000                   20061101               68.38999939     No MI                                  100000000000000000           2.25
       16647835                                                       541295                   20061101               73.88999939     No MI                                  100000000000000000           2.25
       16647836                                                       445000                   20061001               71.56999969     No MI                                  100000000000000000           2.25
       16647837                                                       768000                   20060701                        80     No MI                                  100000000000000000           2.25
       16647838                                                       593600                   20061101                        80     No MI                                  100000000000000000           2.25
       16647839                                                       458104                   20061101                        80     No MI                                  100000000000000000           2.25
       16647840                                                       740000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647841                                                       427000                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16647844                                                       684000                   20061001               74.66000366     No MI                                  100000000000000000           2.25
       16647846                                                       720000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647848                                                       581000                   20061001               56.56999969     No MI                                  100000000000000000           2.25
       16647849                                                       647500                   20061001                        70     No MI                                  100000000000000000           2.25
       16647850                                                       457000                   20061001               83.84999847     GE Capital MI                          100000000000000000           2.25
       16647851                                                       515000                   20060801               79.83999634     No MI                                  100000000000000000           2.25
       16647852                                                       472000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647853                                                       530000                   20061001               76.80999756     No MI                                  100000000000000000           2.25
       16647854                                                       515920                   20061001                        80     No MI                                  100000000000000000           2.25
       16647855                                                       492000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647856                                                       423312                   20061001                        80     No MI                                  100000000000000000           2.25
       16647857                                                       550000                   20061001               74.83000183     No MI                                  100000000000000000           2.25
       16647858                                                       456000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647859                                                       528001                   20061001               79.91999817     No MI                                  100000000000000000           2.25
       16647860                                                       818400                   20061001               74.40000153     No MI                                  100000000000000000           2.25
       16647861                                                       471800                   20061001                        70     No MI                                  100000000000000000           2.25
       16647862                                                       712500                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16647864                                                       754000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647865                                                       650000                   20061001               64.80999756     No MI                                  100000000000000000           2.25
       16647866                                                       744000                   20061001               79.15000153     No MI                                  100000000000000000           2.25
       16647867                                                       614400                   20061001                        80     No MI                                  100000000000000000           2.25
       16647868                                                       425500                   20061001               74.70999908     No MI                                  100000000000000000           2.25
       16647869                                                       500000                   20061001               58.20999908     No MI                                  100000000000000000           2.25
       16647870                                                       420000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647871                                                       576000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647873                                                       536000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647874                                                       628000                   20061001               71.76999664     No MI                                  100000000000000000           2.25
       16647875                                                       680000                   20061001               77.70999908     No MI                                  100000000000000000           2.25
       16647876                                                       790150                   20061001                        80     No MI                                  100000000000000000           2.25
       16647877                                                      1200000                   20060901                        75     No MI                                  100000000000000000           2.25
       16647878                                                       727200                   20061101                        80     No MI                                  100000000000000000           2.25
       16647880                                                       650000                   20061001               56.52000046     No MI                                  100000000000000000           2.25
       16647881                                                       495696                   20061101                        80     No MI                                  100000000000000000           2.25
       16647882                                                       428000                   20060801                        80     No MI                                  100000000000000000           2.25
       16647883                                                       560000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647884                                                       999900                   20061001               62.49000168     No MI                                  100000000000000000           2.25
       16647885                                                      1000000                   20061001               60.72999954     No MI                                  100000000000000000           2.25
       16647886                                                       464000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647887                                                       671300                   20061101               77.62000275     No MI                                  100000000000000000           2.25
       16647888                                                       620000                   20061001                        80     No MI                                  100000000000000000           2.25
       16647889                                                       520000                   20060801                        80     No MI                                  100000000000000000           2.25
       16647890                                                       628000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633881                                                       599000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633882                                                       999900                   20061001               69.01000214     No MI                                  100000000000000000           2.25
       16633883                                                       428000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633884                                                       496000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633885                                                       935550                   20061001                        75     No MI                                  100000000000000000           2.25
       16633886                                                       429224                   20061001                        80     No MI                                  100000000000000000           2.25
       16633887                                                       455920                   20061001                        80     No MI                                  100000000000000000           2.25
       16633888                                                       548500                   20061001               89.91999817     United Guaranty                        100000000000000000          2.875
       16633889                                                       529520                   20061001                        80     No MI                                  100000000000000000           2.25
       16633890                                                       536000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633891                                                       455000                   20061001               79.95999908     No MI                                  100000000000000000           2.25
       16633892                                                       529600                   20061001                        80     No MI                                  100000000000000000           2.25
       16633893                                                      1482000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633894                                                      1029073                   20061001               59.83000183     No MI                                  100000000000000000           2.25
       16633895                                                       999999                   20061001               66.66999817     No MI                                  100000000000000000           2.25
       16633896                                                       503136                   20061001                        80     No MI                                  100000000000000000           2.25
       16633897                                                       669930                   20061001                        80     No MI                                  100000000000000000           2.25
       16633898                                                       552000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633899                                                       448000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633900                                                      1000000                   20061001               65.79000092     No MI                                  100000000000000000           2.25
       16633901                                                       480000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633740                                                       572350                   20061001                        80     No MI                                  100000000000000000           2.25
       16633902                                                       485000                   20061001               79.51000214     No MI                                  100000000000000000           2.25
       16633741                                                       600000                   20060901               43.63999939     No MI                                  100000000000000000           2.25
       16633903                                                      1065000                   20061101               66.55999756     No MI                                  100000000000000000           2.25
       16633904                                                       880000                   20061001               79.27999878     No MI                                  100000000000000000           2.25
       16633742                                                       510000                   20060901               55.68000031     No MI                                  100000000000000000           2.25
       16633905                                                       502000                   20061001               79.94000244     No MI                                  100000000000000000           2.25
       16633743                                                       630000                   20060801                     79.75     No MI                                  100000000000000000           2.25
       16633744                                                       520000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633906                                                      1050000                   20061101                        75     No MI                                  100000000000000000           2.25
       16633907                                                       420000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633745                                                       655400                   20060901                        80     No MI                                  100000000000000000           2.25
       16633908                                                       547500                   20061001                        75     No MI                                  100000000000000000           2.25
       16633746                                                       500000                   20060901               68.02999878     No MI                                  100000000000000000           2.25
       16633909                                                       595000                   20061001                        70     No MI                                  100000000000000000           2.25
       16633747                                                       718432                   20060901                        80     No MI                                  100000000000000000           2.25
       16633748                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633749                                                       600000                   20060901               68.56999969     No MI                                  100000000000000000           2.25
       16648000                                                       760000                   20061101                        80     No MI                                  100000000000000000           2.25
       16648002                                                       543920                   20061101                        80     No MI                                  100000000000000000           2.25
       16648003                                                       736184                   20061101                        80     No MI                                  100000000000000000           2.25
       16633910                                                       456000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633911                                                       608000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633912                                                       650000                   20061001               76.47000122     No MI                                  100000000000000000           2.25
       16633850                                                       532000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633851                                                       425000                   20061001               56.66999817     No MI                                  100000000000000000           2.25
       16633852                                                       504000                   20061001                        90     Republic MIC                           100000000000000000           2.25
       16633853                                                       462000                   20061001               60.79000092     No MI                                  100000000000000000           2.25
       16633854                                                       479999                   20061001                        80     No MI                                  100000000000000000           2.25
       16633855                                                       606400                   20061001                        80     No MI                                  100000000000000000           2.25
       16633856                                                       430400                   20061001                        80     No MI                                  100000000000000000           2.25
       16633857                                                       662220                   20061001                        80     No MI                                  100000000000000000           2.25
       16633858                                                       508500                   20061001                        90     Radian Guaranty                        100000000000000000          2.875
       16633859                                                       511000                   20061001               79.97000122     No MI                                  100000000000000000           2.25
       16633860                                                       448000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633861                                                       514400                   20061101                        80     No MI                                  100000000000000000           2.25
       16633862                                                       476000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633863                                                       571000                   20061001               78.65000153     No MI                                  100000000000000000           2.25
       16633864                                                       440000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633865                                                       708000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633866                                                       703192                   20061001                        80     No MI                                  100000000000000000           2.25
       16633867                                                       575000                   20061001               79.86000061     No MI                                  100000000000000000           2.25
       16633868                                                      1000000                   20061001               78.73999786     No MI                                  100000000000000000           2.25
       16633869                                                       650000                   20061001               78.52999878     No MI                                  100000000000000000           2.25
       16633870                                                       420000                   20061001               58.81999969     No MI                                  100000000000000000           2.25
       16633871                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633872                                                      1000000                   20061001               67.68000031     No MI                                  100000000000000000           2.25
       16633873                                                       424000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633874                                                       623200                   20061001                        80     No MI                                  100000000000000000           2.25
       16633875                                                       534000                   20061001               79.94000244     No MI                                  100000000000000000           2.25
       16633876                                                       650000                   20061001                        52     No MI                                  100000000000000000           2.25
       16633877                                                       680000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633878                                                       509400                   20061001               65.73000336     No MI                                  100000000000000000           2.25
       16633879                                                       550000                   20061001               76.91999817     No MI                                  100000000000000000           2.25
       16633880                                                       440000                   20061001               73.94999695     No MI                                  100000000000000000           2.25
       16633711                                                    541642.01                   20061001               64.79000092     No MI                                  100000000000000000              1
       16633831                                                       494350                   20061101               79.98999786     No MI                                  100000000000000000           2.25
       16633727                                                       477000                   20060901               63.40999985     No MI                                  100000000000000000           2.25
       16633728                                                       672000                   20060901                        80     No MI                                  100000000000000000           2.25
       16633729                                                       434000                   20060901               72.33000183     No MI                                  100000000000000000           2.25
       16633730                                                       471336                   20060901                        80     No MI                                  100000000000000000           2.25
       16633731                                                       868000                   20060901               70.40000153     No MI                                  100000000000000000           2.25
       16633732                                                       487920                   20060901                        80     No MI                                  100000000000000000           2.25
       16633733                                                       487500                   20061001                        75     No MI                                  100000000000000000           2.25
       16633734                                                       500000                   20061001               61.31999969     No MI                                  100000000000000000           2.25
       16633735                                                       436500                   20060901                        90     Radian Guaranty                        100000000000000000           2.25
       16633736                                                       450000                   20061001               66.66999817     No MI                                  100000000000000000           2.25
       16633737                                                       460000                   20060801                        80     No MI                                  100000000000000000           2.25
       16633738                                                      1500000                   20060901               72.29000092     No MI                                  100000000000000000           2.25
       16633739                                                       726000                   20061001               76.33999634     No MI                                  100000000000000000           2.25
       16633843                                                       512000                   20061001               75.84999847     No MI                                  100000000000000000           2.25
       16633844                                                       607000                   20061001               79.87000275     No MI                                  100000000000000000           2.25
       16633845                                                       520000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633846                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633847                                                       670000                   20061001               76.56999969     No MI                                  100000000000000000           2.25
       16633848                                                       480000                   20061001               70.58999634     No MI                                  100000000000000000           2.25
       16633849                                                       426616                   20061001                        80     No MI                                  100000000000000000           2.25
       16633838                                                       466400                   20061001                        80     No MI                                  100000000000000000           2.25
       16633839                                                       760000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633840                                                       470000                   20061001               76.55000305     No MI                                  100000000000000000           2.25
       16633841                                                       429000                   20061001               57.20000076     No MI                                  100000000000000000           2.25
       16633842                                                       600000                   20061001               72.73000336     No MI                                  100000000000000000           2.25
       16633821                                                       532000                   20061001                        95     Radian Guaranty                        100000000000000000          3.125
       16633822                                                      1000000                   20061001               74.13999939     No MI                                  100000000000000000           2.25
       16633823                                                       700000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633824                                                       651600                   20061001                        80     No MI                                  100000000000000000           2.25
       16633825                                                       525000                   20061001               56.75999832     No MI                                  100000000000000000           2.25
       16633826                                                       436000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633827                                                      1000000                   20061001               75.19000244     No MI                                  100000000000000000           2.25
       16633828                                                       608063                   20061001               60.81000137     No MI                                  100000000000000000           2.25
       16633829                                                       472000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633830                                                      1000000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633832                                                       865500                   20061001                        80     No MI                                  100000000000000000           2.25
       16633833                                                       480750                   20061001                        80     No MI                                  100000000000000000           2.25
       16633834                                                       622500                   20061001               73.23999786     No MI                                  100000000000000000           2.25
       16633835                                                       470000                   20061001               61.84000015     No MI                                  100000000000000000           2.25
       16633836                                                      1000000                   20061001                      62.5     No MI                                  100000000000000000           2.25
       16633837                                                       516000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633817                                                       636320                   20061001                        80     No MI                                  100000000000000000           2.25
       16633818                                                      1000000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633819                                                       432000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633820                                                       744000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633815                                                       552000                   20061001               58.11000061     No MI                                  100000000000000000           2.25
       16633816                                                       620000                   20061001               50.20000076     No MI                                  100000000000000000           2.25
       16633814                                                       462000                   20061101                        80     No MI                                  100000000000000000           2.25
       16633804                                                       478000                   20061001               54.63000107     No MI                                  100000000000000000           2.25
       16633805                                                       552000                   20061001               41.65999985     No MI                                  100000000000000000           2.25
       16633806                                                       700000                   20061001               59.16999817     No MI                                  100000000000000000           2.25
       16633807                                                       418000                   20061001               75.31999969     No MI                                  100000000000000000           2.25
       16633808                                                       475000                   20061001               77.51000214     No MI                                  100000000000000000           2.25
       16633809                                                       497000                   20061001                        70     No MI                                  100000000000000000           2.25
       16633810                                                       711200                   20061001                        80     No MI                                  100000000000000000           2.25
       16633811                                                       450000                   20061001               79.65000153     No MI                                  100000000000000000           2.25
       16633812                                                       650000                   20061001                     72.25     No MI                                  100000000000000000           2.25
       16633813                                                       804000                   20061001               73.08999634     No MI                                  100000000000000000           2.25
       16633800                                                       900000                   20061001                        75     No MI                                  100000000000000000           2.25
       16633801                                                       628000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633802                                                       720000                   20061001                        80     No MI                                  100000000000000000           2.25
       16633803                                                       741600                   20061001                        80     No MI                                  100000000000000000           2.25
       16647991                                                       630000                   20061101               79.94999695     No MI                                  100000000000000000           2.25
       16647992                                                       471400                   20061101               79.98999786     No MI                                  100000000000000000           2.25
       16647993                                                       650000                   20061101               78.79000092     No MI                                  100000000000000000           2.25
       16647994                                                       511200                   20061101                        80     No MI                                  100000000000000000           2.25
       16647995                                                       420000                   20061101                        75     No MI                                  100000000000000000           2.25
       16647996                                                       620000                   20061101                        80     No MI                                  100000000000000000           2.25
       16647997                                                       515000                   20061101               66.44999695     No MI                                  100000000000000000           2.25
       16647998                                                       963750                   20061101                        75     No MI                                  100000000000000000           2.25
       16647999                                                       818400                   20061101                        80     No MI                                  100000000000000000           2.25
       16634866                                                    461974.91                   20060901               73.91999817     No MI                                  100000000000000000           2.25
       16634871                                                       811360                   20061001               64.38999939     No MI                                  100000000000000000           2.25
       16635203                                                       626000                   20061001               75.41999817     No MI                                  100000000000000000           2.25
       16635204                                                      1085000                   20061001                        70     No MI                                  100000000000000000           2.25
       16635042                                                       510000                   20061001               72.23999786     No MI                                  100000000000000000           2.25
       16635205                                                       452000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635044                                                       566101                   20061001                        80     No MI                                  100000000000000000           2.25
       16635208                                                       544000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635048                                                       779232                   20061001                        80     No MI                                  100000000000000000           2.25
       16635049                                                       803200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635210                                                       448000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635211                                                       766400                   20061001                        80     No MI                                  100000000000000000           2.25
       16635050                                                       960000                   20060901               27.43000031     No MI                                  100000000000000000           2.25
       16635213                                                       693000                   20061001                        70     No MI                                  100000000000000000           2.25
       16635052                                                       799200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635215                                                       504000                   20060901                        80     No MI                                  100000000000000000           2.25
       16635216                                                       488000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635218                                                       510000                   20061001               56.66999817     No MI                                  100000000000000000           2.25
       16635056                                                      1750000                   20061001               79.73000336     No MI                                  100000000000000000           2.25
       16635057                                                       799200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635059                                                       500000                   20061001               78.86000061     No MI                                  100000000000000000           2.25
       16635001                                                       685000                   20061001               74.05000305     No MI                                  100000000000000000           2.25
       16635002                                                       617500                   20061001                        65     No MI                                  100000000000000000           2.25
       16635005                                                       960000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635006                                                       640000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635007                                                       599950                   20060901               79.98999786     No MI                                  100000000000000000           2.25
       16635009                                                       459900                   20060901                        80     No MI                                  100000000000000000           2.25
       16635010                                                       480000                   20061001               77.41999817     No MI                                  100000000000000000           2.25
       16635012                                                       444000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635014                                                       590000                   20061001               56.18999863     No MI                                  100000000000000000           2.25
       16635020                                                       448000                   20060801                        80     No MI                                  100000000000000000           2.25
       16635024                                                       425400                   20061001                        80     No MI                                  100000000000000000           2.25
       16635025                                                      1000000                   20061001               74.08000183     No MI                                  100000000000000000           2.25
       16635026                                                       476000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635027                                                       476532                   20061001                        80     No MI                                  100000000000000000           2.25
       16635028                                                       999999                   20061001               72.73000336     No MI                                  100000000000000000           2.25
       16635029                                                       547711                   20061001                        80     No MI                                  100000000000000000           2.25
       16635030                                                       650000                   20061001               76.55999756     No MI                                  100000000000000000           2.25
       16635031                                                       630000                   20060901                     79.75     No MI                                  100000000000000000           2.25
       16635033                                                       730256                   20061001                        70     No MI                                  100000000000000000           2.25
       16635038                                                      1145000                   20061001               59.47999954     No MI                                  100000000000000000           2.25
       16635039                                                       999000                   20061001               51.90000153     No MI                                  100000000000000000           2.25
       16635200                                                       450000                   20061001               64.29000092     No MI                                  100000000000000000           2.25
       16635201                                                       441600                   20061001                        80     No MI                                  100000000000000000           2.25
       16635202                                                      1050600                   20061001               74.73999786     No MI                                  100000000000000000           2.25
       16635040                                                       424000                   20061001               38.54999924     No MI                                  100000000000000000           2.25
       16167018                                                       852000                   20060301                        80     No MI                                  100000000000000000           2.25
       16634855                                                       660850                   20060901               79.98999786     No MI                                  100000000000000000           2.25
       16634856                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634859                                                       937500                   20061001                        75     No MI                                  100000000000000000           2.25
       16634860                                                       500000                   20061001                        65     No MI                                  100000000000000000           2.25
       16634861                                                       593004                   20061001                        80     No MI                                  100000000000000000           2.25
       16634863                                                    574303.33                   20060801               70.04000092     No MI                                  100000000000000000           2.25
       16634865                                                     526941.1                   20060801               94.09999847     Radian Guaranty                        100000000000000000           2.25
       16634868                                                       679930                   20060801               79.98999786     No MI                                  100000000000000000           2.25
       16634869                                                       440875                   20061001                        80     No MI                                  100000000000000000           2.25
       16634870                                                       668000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634872                                                       488000                   20060501                        80     No MI                                  100000000000000000           2.25
       16634873                                                       636695                   20061001                        80     No MI                                  100000000000000000           2.25
       16634874                                                       510400                   20060501                        80     No MI                                  100000000000000000           2.25
       16634877                                                       466000                   20060501               69.55000305     No MI                                  100000000000000000           2.25
       16634880                                                       423200                   20060601                        80     No MI                                  100000000000000000           2.25
       16634883                                                       482000                   20060701               79.66999817     No MI                                  100000000000000000           2.25
       16634884                                                       565000                   20060801               73.86000061     No MI                                  100000000000000000           2.25
       16634886                                                    734750.15                   20060801               79.94999695     No MI                                  100000000000000000           2.25
       16634888                                                       739300                   20061001                        80     No MI                                  100000000000000000           2.25
       16634890                                                       485905                   20061001                        80     No MI                                  100000000000000000           2.25
       16634893                                                       540000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634895                                                       484000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635159                                                       460000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635162                                                       441000                   20061001                        70     No MI                                  100000000000000000           2.25
       16635163                                                       795000                   20061001                        75     No MI                                  100000000000000000           2.25
       16635165                                                       560000                   20061001               54.63000107     No MI                                  100000000000000000           2.25
       16635167                                                       449560                   20061001                        80     No MI                                  100000000000000000           2.25
       16635168                                                       488000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635169                                                       503200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635170                                                       900000                   20061001               68.69999695     No MI                                  100000000000000000           2.25
       16635171                                                       497500                   20061001               58.52999878     No MI                                  100000000000000000           2.25
       16635174                                                       750400                   20061001                        80     No MI                                  100000000000000000           2.25
       16635175                                                       508000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635176                                                       840000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635178                                                       560000                   20061001                        70     No MI                                  100000000000000000           2.25
       16635184                                                       435000                   20061001               79.95999908     No MI                                  100000000000000000           2.25
       16635143                                                       750000                   20061001               20.82999992     No MI                                  100000000000000000           2.25
       16635306                                                       825000                   20061001                        75     No MI                                  100000000000000000           2.25
       16635145                                                       830000                   20061001               79.05000305     No MI                                  100000000000000000           2.25
       16635146                                                       430000                   20061001                      73.5     No MI                                  100000000000000000           2.25
       16635147                                                       551000                   20061001               62.25999832     No MI                                  100000000000000000           2.25
       16635149                                                       432600                   20061001               78.65000153     No MI                                  100000000000000000           2.25
       16635313                                                      1000000                   20061001               34.18999863     No MI                                  100000000000000000           2.25
       16635151                                                       581680                   20061001                        80     No MI                                  100000000000000000           2.25
       16635153                                                       572000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635138                                                       475200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635139                                                       602000                   20061001                        70     No MI                                  100000000000000000           2.25
       16635140                                                       467500                   20061001               59.36999893     No MI                                  100000000000000000           2.25
       16635141                                                       459300                   20061001               79.19000244     No MI                                  100000000000000000           2.25
       16635120                                                       428000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635121                                                       595509                   20061001                        80     No MI                                  100000000000000000           2.25
       16635123                                                      1000000                   20061001               57.13999939     No MI                                  100000000000000000           2.25
       16635124                                                       880000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635126                                                       428000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635128                                                       632000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635129                                                       437000                   20061001               70.48000336     No MI                                  100000000000000000           2.25
       16635132                                                       448000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635133                                                       715000                   20061001               79.98000336     No MI                                  100000000000000000           2.25
       16635135                                                       437251                   20061001                        80     No MI                                  100000000000000000           2.25
       16635102                                                       510800                   20060901                        80     No MI                                  100000000000000000           2.25
       16635103                                                       800000                   20061001               69.56999969     No MI                                  100000000000000000           2.25
       16635105                                                       685350                   20061001                        80     No MI                                  100000000000000000           2.25
       16635106                                                       836000                   20061001               64.30999756     No MI                                  100000000000000000           2.25
       16635107                                                       500000                   20061001               66.66999817     No MI                                  100000000000000000           2.25
       16635110                                                      1372000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635112                                                       528000                   20061001               69.47000122     No MI                                  100000000000000000           2.25
       16635113                                                       550000                   20061101               61.45000076     No MI                                  100000000000000000           2.25
       16635114                                                       850000                   20061001                      62.5     No MI                                  100000000000000000           2.25
       16635116                                                       495000                   20061001                        55     No MI                                  100000000000000000           2.25
       16635118                                                       700000                   20061001               73.68000031     No MI                                  100000000000000000           2.25
       16635119                                                       530000                   20061001                        53     No MI                                  100000000000000000           2.25
       16634998                                                       608000                   20061001               77.94999695     No MI                                  100000000000000000           2.25
       16634986                                                       672000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634987                                                       452000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634990                                                       469150                   20061001                        80     No MI                                  100000000000000000           2.25
       16634994                                                       450000                   20061001               46.38999939     No MI                                  100000000000000000           2.25
       16634995                                                       982500                   20060901                        75     No MI                                  100000000000000000              2
       16634996                                                       710700                   20061001               64.16000366     No MI                                  100000000000000000           2.25
       16634975                                                       725300                   20061001                        80     No MI                                  100000000000000000           2.25
       16634977                                                       592000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634979                                                       620000                   20061001                        62     No MI                                  100000000000000000           2.25
       16634980                                                       650000                   20061001               79.55000305     No MI                                  100000000000000000           2.25
       16634981                                                       520000                   20061001                        80     No MI                                  100000000000000000           2.25
       16634951                                                       470000                   20060801               79.66000366     No MI                                  100000000000000000           2.25
       16634956                                                       452000                   20061001               77.93000031     No MI                                  100000000000000000           2.25
       16634960                                                       736000                   20060901                        80     No MI                                  100000000000000000           2.25
       16634963                                                      1735600                   20060901                        80     No MI                                  100000000000000000           2.25
       16634964                                                       630000                   20060801                        70     No MI                                  100000000000000000           2.25
       16634965                                                       456000                   20060901                        80     No MI                                  100000000000000000           2.25
       16634968                                                       647000                   20061001               73.16999817     No MI                                  100000000000000000           2.25
       16634970                                                       470000                   20061001               89.51999664     PMI                                    100000000000000000           2.25
       16634971                                                       980050                   20060901                        70     No MI                                  100000000000000000           2.25
       16634935                                                       530900                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16634939                                                       510000                   20060901               58.49000168     No MI                                  100000000000000000           2.25
       16634940                                                       568000                   20060901               79.94999695     No MI                                  100000000000000000           2.25
       16634942                                                       800000                   20060901               75.76000214     No MI                                  100000000000000000           2.25
       16634944                                                       812000                   20060801                        80     No MI                                  100000000000000000           2.25
       16634946                                                       506000                   20060901               79.05999756     No MI                                  100000000000000000           2.25
       16634948                                                       520000                   20060501                        80     No MI                                  100000000000000000           2.25
       16634949                                                       420000                   20061001                     79.25     No MI                                  100000000000000000           2.25
       16634950                                                       571200                   20060901                        85     Mortgage Guaranty In                   100000000000000000           2.25
       16634904                                                       544000                   20060701               70.19000244     No MI                                  100000000000000000           2.25
       16634906                                                       526000                   20061001                        80     No MI                                  100000000000000000            2.5
       16634914                                                       900000                   20060901                        80     No MI                                  100000000000000000           2.25
       16634917                                                       468000                   20060901                        80     No MI                                  100000000000000000           2.25
       16634919                                                       536000                   20060901                        80     No MI                                  100000000000000000           2.25
       16634921                                                       696000                   20060801                        80     No MI                                  100000000000000000           2.25
       16634922                                                       709850                   20060901                        80     No MI                                  100000000000000000           2.25
       16634926                                                      1000000                   20060901               75.47000122     No MI                                  100000000000000000           2.25
       16634929                                                       650000                   20060901               68.05999756     No MI                                  100000000000000000           2.25
       16634930                                                       467950                   20060901                        80     No MI                                  100000000000000000           2.25
       16634932                                                       465500                   20060801                        70     No MI                                  100000000000000000           2.25
       16635185                                                       524000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635186                                                       524000                   20061001               78.91999817     No MI                                  100000000000000000           2.25
       16635188                                                       520000                   20061001               72.22000122     No MI                                  100000000000000000           2.25
       16635191                                                       591500                   20061001                        70     No MI                                  100000000000000000           2.25
       16635192                                                       480000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635193                                                       458000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635194                                                       425600                   20061001                        80     No MI                                  100000000000000000           2.25
       16634900                                                       500000                   20061001               47.61999893     No MI                                  100000000000000000           2.25
       16634901                                                      1000000                   20061001               58.74000168     No MI                                  100000000000000000           2.25
       16635292                                                      1700000                   20061001               62.15999985     No MI                                  100000000000000000           2.25
       16635293                                                      1365000                   20061001                        75     No MI                                  100000000000000000           2.25
       16635278                                                       615000                   20061001               37.27000046     No MI                                  100000000000000000           2.25
       16635271                                                       645000                   20061001               45.25999832     No MI                                  100000000000000000           2.25
       16635262                                                       728000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635263                                                       736000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635267                                                       585000                   20061001               79.58999634     No MI                                  100000000000000000           2.25
       16635268                                                       471000                   20061001               42.81999969     No MI                                  100000000000000000           2.25
       16635094                                                      1100000                   20061001               70.97000122     No MI                                  100000000000000000           2.25
       16635095                                                       517000                   20061001               74.38999939     No MI                                  100000000000000000           2.25
       16635258                                                       720000                   20061001               59.25999832     No MI                                  100000000000000000           2.25
       16635259                                                       600000                   20061001               62.18000031     No MI                                  100000000000000000           2.25
       16635097                                                       420000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635098                                                       577000                   20061001               67.08999634     No MI                                  100000000000000000           2.25
       16635260                                                       619000                   20061001               64.48000336     No MI                                  100000000000000000           2.25
       16635071                                                       500000                   20061001               41.66999817     No MI                                  100000000000000000           2.25
       16635234                                                       644800                   20061001                        80     No MI                                  100000000000000000           2.25
       16635072                                                       493520                   20061001                        80     No MI                                  100000000000000000           2.25
       16635073                                                      1000000                   20060901               60.61000061     No MI                                  100000000000000000           2.25
       16635236                                                       806000                   20061001               64.48000336     No MI                                  100000000000000000           2.25
       16635074                                                       600000                   20061001               63.49000168     No MI                                  100000000000000000           2.25
       16635237                                                       510000                   20061001               79.94000244     No MI                                  100000000000000000           2.25
       16635238                                                       630000                   20061001               66.31999969     No MI                                  100000000000000000           2.25
       16635076                                                      1000000                   20061001               65.83000183     No MI                                  100000000000000000           2.25
       16635239                                                      1225000                   20061001               76.55999756     No MI                                  100000000000000000           2.25
       16635078                                                       600000                   20061001                        75     No MI                                  100000000000000000           2.25
       16635079                                                       749250                   20061001                        75     No MI                                  100000000000000000           2.25
       16635240                                                      1000000                   20061001               67.11000061     No MI                                  100000000000000000           2.25
       16635242                                                       606000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635243                                                      1500000                   20061001               63.15999985     No MI                                  100000000000000000           2.25
       16635083                                                       609500                   20061001                     75.25     No MI                                  100000000000000000           2.25
       16635085                                                       487509                   20061001                        80     No MI                                  100000000000000000           2.25
       16635248                                                       960000                   20061001               78.34999847     No MI                                  100000000000000000           2.25
       16635086                                                       747960                   20061001                        80     No MI                                  100000000000000000           2.25
       16635087                                                       735000                   20061001               79.19999695     No MI                                  100000000000000000           2.25
       16635088                                                       594000                   20061001               76.15000153     No MI                                  100000000000000000           2.25
       16635089                                                       768000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635250                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635252                                                       592000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635253                                                     696791.2                   20061001                        80     No MI                                  100000000000000000           2.25
       16635254                                                       960000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635093                                                       528000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635231                                                       480000                   20061001               53.33000183     No MI                                  100000000000000000           2.25
       16635232                                                      1780000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635220                                                       503200                   20061001                        80     No MI                                  100000000000000000           2.25
       16635222                                                       600000                   20061001               60.06000137     No MI                                  100000000000000000           2.25
       16635060                                                       450000                   20061001               55.90000153     No MI                                  100000000000000000           2.25
       16635224                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635062                                                       600000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635063                                                       534815                   20061001               74.06999969     No MI                                  100000000000000000           2.25
       16635226                                                       580000                   20061001                        80     No MI                                  100000000000000000           2.25
       16635227                                                       544700                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16635228                                                       525000                   20061001               77.77999878     No MI                                  100000000000000000           2.25
       16635229                                                       455000                   20061001               60.25999832     No MI                                  100000000000000000           2.25
       16635067                                                       482720                   20061001                        80     No MI                                  100000000000000000           2.25
       16635068                                                       615200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639196                                                       596400                   20061001                        80     No MI                                  100000000000000000           2.25
       16639197                                                       642350                   20061001                        80     No MI                                  100000000000000000           2.25
       16639198                                                       521000                   20061001                      34.5     No MI                                  100000000000000000           2.25
       16639199                                                       596000                   20060901               79.26000214     No MI                                  100000000000000000           2.25
       16639190                                                       632000                   20060901                        80     No MI                                  100000000000000000           2.25
       16639191                                                       911400                   20061001                        80     No MI                                  100000000000000000           2.25
       16639192                                                      1000000                   20060901               70.16000366     No MI                                  100000000000000000           2.25
       16639193                                                      1793400                   20060901                        60     No MI                                  100000000000000000           2.25
       16639194                                                       512450                   20060901                        80     No MI                                  100000000000000000           2.25
       16639195                                                       700000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639309                                                       428000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639311                                                       910000                   20061001               75.83000183     No MI                                  100000000000000000           2.25
       16639312                                                      1000000                   20061001               61.72999954     No MI                                  100000000000000000           2.25
       16639313                                                       570000                   20061001               73.08000183     No MI                                  100000000000000000           2.25
       16639314                                                       922250                   20061001               70.80999756     No MI                                  100000000000000000           2.25
       16639315                                                       524000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639316                                                       809500                   20061001               65.81999969     No MI                                  100000000000000000           2.25
       16639317                                                       560000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639318                                                       780000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639319                                                       495200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639320                                                       476000                   20061001                        70     No MI                                  100000000000000000           2.25
       16639321                                                       496000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639322                                                       785000                   20061001               71.36000061     No MI                                  100000000000000000           2.25
       16639323                                                       516000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639324                                                       586000                   20061001               69.76000214     No MI                                  100000000000000000           2.25
       16639325                                                       420000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639326                                                       586521                   20061001                        80     No MI                                  100000000000000000           2.25
       16639327                                                       752000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639328                                                       580000                   20060901                        80     No MI                                  100000000000000000           2.75
       16639329                                                       500000                   20060901               66.66999817     No MI                                  100000000000000000           2.25
       16639330                                                       601295                   20060701               50.11000061     No MI                                                   0           2.25
       16639331                                                    649370.01                   20060701               68.34999847     No MI                                  100000000000000000           2.25
       16639178                                                       474118                   20060901                        80     No MI                                  100000000000000000           2.25
       16639179                                                       465000                   20060801               78.80999756     No MI                                  100000000000000000           2.25
       16639180                                                       569500                   20060901               56.95000076     No MI                                  100000000000000000           2.25
       16639181                                                       597600                   20060901                        80     No MI                                  100000000000000000           2.25
       16639182                                                      1150000                   20060901               62.15999985     No MI                                  100000000000000000           2.25
       16639183                                                       595000                   20061001                        68     No MI                                  100000000000000000           2.25
       16639184                                                       664000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639185                                                       525040                   20060901                        80     No MI                                  100000000000000000           2.25
       16639186                                                       463920                   20060901                        80     No MI                                  100000000000000000           2.25
       16639187                                                       420000                   20060901               68.84999847     No MI                                  100000000000000000           2.25
       16639188                                                       500000                   20060901               72.45999908     No MI                                  100000000000000000           2.25
       16639189                                                       472000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639300                                                       456000                   20061001               79.30000305     No MI                                  100000000000000000           2.25
       16639301                                                       650000                   20061001               76.91999817     No MI                                  100000000000000000           2.25
       16639302                                                       514000                   20061001               58.40999985     No MI                                  100000000000000000           2.25
       16639303                                                       588000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639304                                                       535000                   20061001               57.84000015     No MI                                  100000000000000000           2.25
       16639305                                                       440000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639307                                                      1000000                   20061001               74.06999969     No MI                                  100000000000000000           2.25
       16639308                                                       553000                   20061001               79.91000366     No MI                                  100000000000000000           2.25
       16639294                                                       496000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639295                                                       464400                   20061001                        80     No MI                                  100000000000000000           2.25
       16639296                                                       600000                   20061001               36.91999817     No MI                                  100000000000000000           2.25
       16639297                                                       604000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639298                                                       800000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639299                                                       964000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639290                                                       489600                   20061001                        80     No MI                                  100000000000000000           2.25
       16639291                                                       740000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639292                                                      1500000                   20061001                        75     No MI                                  100000000000000000           2.25
       16639293                                                       535000                   20061001               75.13999939     No MI                                  100000000000000000           2.25
       16639278                                                       448000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639279                                                       428500                   20061001               78.62000275     No MI                                  100000000000000000           2.25
       16639280                                                       802547                   20061001                        80     No MI                                  100000000000000000           2.25
       16639281                                                       463960                   20061001                        80     No MI                                  100000000000000000           2.25
       16639282                                                       480000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639283                                                       524280                   20061001                        80     No MI                                  100000000000000000           2.25
       16639284                                                       520000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639285                                                       500000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639286                                                       511500                   20061001               79.55000305     No MI                                  100000000000000000           2.25
       16639287                                                       690800                   20061001               70.12999725     No MI                                  100000000000000000           2.25
       16639288                                                       643000                   20061001               75.65000153     No MI                                  100000000000000000           2.25
       16639289                                                       770000                   20061001               77.01000214     No MI                                  100000000000000000           2.25
       16639268                                                       494400                   20061001                        80     No MI                                  100000000000000000           2.25
       16639269                                                       455000                   20061001                        70     No MI                                  100000000000000000           2.25
       16639270                                                       650000                   20061001               74.70999908     No MI                                  100000000000000000           2.25
       16639271                                                       492000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639272                                                       914000                   20061001               76.16999817     No MI                                  100000000000000000           2.25
       16639273                                                      1000000                   20061001               75.47000122     No MI                                  100000000000000000           2.25
       16639274                                                       468800                   20061001                        80     No MI                                  100000000000000000           2.25
       16639275                                                       780000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639276                                                       800000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639277                                                       950000                   20061001               60.90000153     No MI                                  100000000000000000           2.25
       16639244                                                       942000                   20061001               73.33999634     No MI                                  100000000000000000           2.25
       16639245                                                       952795                   20061001                        75     No MI                                  100000000000000000           2.25
       16639246                                                       632000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639247                                                       560000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639248                                                       532352                   20061001                        80     No MI                                  100000000000000000           2.25
       16639249                                                       980000                   20061001               57.65000153     No MI                                  100000000000000000           2.25
       16639250                                                       426000                   20061001               58.52000046     No MI                                  100000000000000000           2.25
       16639251                                                       683761                   20061001                        80     No MI                                  100000000000000000           2.25
       16639252                                                       965000                   20061001               78.77999878     No MI                                  100000000000000000           2.25
       16639253                                                       645000                   20061001                      64.5     No MI                                  100000000000000000           2.25
       16639254                                                       583200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639256                                                       659000                   20061001               74.97000122     No MI                                  100000000000000000           2.25
       16639257                                                       604000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639258                                                       500000                   20061001               60.97999954     No MI                                  100000000000000000           2.25
       16639259                                                       486000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639260                                                       916500                   20061001                        80     No MI                                  100000000000000000           2.25
       16639261                                                       490000                   20061001               69.69999695     No MI                                  100000000000000000           2.25
       16639262                                                       587500                   20061001                        80     No MI                                  100000000000000000           2.25
       16639263                                                       468750                   20061001                        75     No MI                                  100000000000000000           2.25
       16639264                                                       623200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639265                                                       479920                   20061001                        80     No MI                                  100000000000000000           2.25
       16639266                                                       622500                   20061001                        75     No MI                                  100000000000000000           2.25
       16639267                                                       600000                   20061001               38.70999908     No MI                                  100000000000000000           2.25
       16639228                                                       471400                   20060901                        80     No MI                                  100000000000000000           2.25
       16639229                                                       525000                   20061001               40.38000107     No MI                                  100000000000000000           2.25
       16639230                                                      1820000                   20060901                        70     No MI                                  100000000000000000           2.25
       16639231                                                       527200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639232                                                       660000                   20061001                        75     No MI                                  100000000000000000           2.25
       16639233                                                       963750                   20061001                        75     No MI                                  100000000000000000           2.25
       16639234                                                       560000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639235                                                       760000                   20060901                        80     No MI                                  100000000000000000           2.25
       16639236                                                       482000                   20061001               65.22000122     No MI                                  100000000000000000           2.25
       16639237                                                       500636                   20061001                        80     No MI                                  100000000000000000           2.25
       16639238                                                       685000                   20061001                     77.75     No MI                                  100000000000000000           2.25
       16639239                                                      1000000                   20061001               33.33000183     No MI                                  100000000000000000           2.25
       16639240                                                       657420                   20061001                        80     No MI                                  100000000000000000           2.25
       16639241                                                       960000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639242                                                       500000                   20061001               71.43000031     No MI                                  100000000000000000           2.25
       16639243                                                       445500                   20061001               64.80000305     No MI                                  100000000000000000           2.25
       16639200                                                       671200                   20061001                        80     No MI                                  100000000000000000           2.25
       16639201                                                       564000                   20060901                        80     No MI                                  100000000000000000           2.25
       16639202                                                       848000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639203                                                       945800                   20060901                        80     No MI                                  100000000000000000           2.25
       16639204                                                       543000                   20061001               65.81999969     No MI                                  100000000000000000           2.25
       16639205                                                      1260000                   20060901                        70     No MI                                  100000000000000000           2.25
       16639206                                                       422000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639207                                                       650000                   20061001               59.09000015     No MI                                  100000000000000000           2.25
       16639208                                                       635000                   20060901               69.77999878     No MI                                  100000000000000000           2.25
       16639209                                                       635000                   20061001               61.88999939     No MI                                  100000000000000000           2.25
       16639210                                                       535360                   20061001                        80     No MI                                  100000000000000000           2.25
       16639211                                                       609600                   20061001                        80     No MI                                  100000000000000000           2.25
       16639212                                                       636500                   20061001               72.33000183     No MI                                  100000000000000000           2.25
       16639213                                                       479000                   20061001               79.86000061     No MI                                  100000000000000000           2.25
       16639214                                                       648000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639215                                                       588000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639216                                                       592000                   20061001                        80     No MI                                  100000000000000000           2.25
       16639217                                                       420000                   20061001               76.36000061     No MI                                  100000000000000000           2.25
       16639218                                                       521500                   20060901               89.98999786     Mortgage Guaranty In                   100000000000000000           2.25
       16639219                                                       999950                   20060901               55.54999924     No MI                                  100000000000000000           2.25
       16639220                                                       615774                   20061001                        80     No MI                                  100000000000000000           2.25
       16639221                                                       525000                   20061001               72.41000366     No MI                                  100000000000000000           2.25
       16639222                                                       465000                   20060901               69.37999725     No MI                                  100000000000000000           2.25
       16639223                                                       495000                   20061001               79.19999695     No MI                                  100000000000000000           2.25
       16639224                                                       487056                   20060901               79.97000122     No MI                                  100000000000000000           2.25
       16639225                                                       459920                   20060601                        80     No MI                                  100000000000000000           2.25
       16639226                                                       972893                   20061001                        80     No MI                                  100000000000000000           2.25
       16639227                                                      2000000                   20061001               35.70999908     No MI                                  100000000000000000           2.25
       16356725                                                       164900                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356726                                                        98000                   20060501                       100     GE Capital MI                                                       2.25
       16356727                                                       268950                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356728                                                       263000                   20060601                       100     GE Capital MI                                                       2.25
       16356729                                                       155950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356730                                                       131900                   20060601                       100     GE Capital MI                                                       2.25
       16356731                                                       439900                   20060501                        80     No MI                                                               2.25
       16356732                                                       249650                   20060501                        80     No MI                                                               2.25
       16356733                                                       245000                   20060601                       100     GE Capital MI                                                       2.25
       16356734                                                       192400                   20060501                       100     GE Capital MI                                                       2.25
       16356735                                                       660000                   20060601                        80     No MI                                                               2.25
       16356736                                                       126900                   20060501                       100     GE Capital MI                                                       2.25
       16356737                                                        94000                   20060601                       100     GE Capital MI                                                       2.25
       16356738                                                       179600                   20060601                        80     No MI                                                               2.25
       16356739                                                       264000                   20060501                       100     GE Capital MI                                                       2.25
       16356740                                                       165950                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356741                                                       800000                   20060501               61.54000092     No MI                                                               2.25
       16356742                                                       175950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356743                                                       194000                   20060501                       100     GE Capital MI                                                       2.25
       16356744                                                       162450                   20060501               99.98000336     Mortgage Guaranty In                                                2.25
       16356745                                                       900000                   20060601                        75     No MI                                                               2.25
       16356746                                                       265700                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356747                                                       203900                   20060501               72.05000305     No MI                                                               2.25
       16356748                                                       349000                   20060501               76.37000275     No MI                                                               2.25
       16356749                                                       320000                   20060601                       100     GE Capital MI                                                       2.25
       16356750                                                       299000                   20060701               79.73000336     No MI                                                               2.25
       16356751                                                       106950                   20060501               99.95999908     GE Capital MI                                                       2.25
       16356752                                                       130400                   20060501               79.94999695     No MI                                                               2.25
       16356753                                                       225000                   20060501                       100     GE Capital MI                                                       2.25
       16356754                                                       153500                   20060501                       100     GE Capital MI                                                       2.25
       16356755                                                       106000                   20060601                       100     GE Capital MI                                                       2.25
       16356756                                                       258950                   20060501               99.98999786     Mortgage Guaranty In                                                2.25
       16356757                                                       199900                   20060601               79.98999786     No MI                                                               2.25
       16356758                                                       195000                   20060501                       100     GE Capital MI                                                       2.25
       16356759                                                       186650                   20060501               99.98000336     Mortgage Guaranty In                                                2.25
       16356760                                                       214200                   20060601                       100     GE Capital MI                                                       2.25
       16356761                                                       120650                   20060601                       100     GE Capital MI                                                       2.25
       16356762                                                       210300                   20060601               64.98999786     No MI                                                               2.25
       16356763                                                       174700                   20060601                        95     GE Capital MI                                                       2.25
       16356764                                                       291600                   20060501               94.98000336     GE Capital MI                                                       2.25
       16356765                                                       319000                   20060701                       100     GE Capital MI                                                       2.25
       16356766                                                       216000                   20060601                       100     GE Capital MI                                                       2.25
       16356767                                                       144900                   20060501                       100     GE Capital MI                                                       2.25
       16356768                                                       127000                   20060501                       100     GE Capital MI                                                       2.25
       16356769                                                       441400                   20060501               79.98000336     No MI                                                               2.25
       16356770                                                       144500                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356771                                                       208800                   20060701                        90     GE Capital MI                                                       2.25
       16356772                                                       177000                   20060501                       100     GE Capital MI                                                       2.25
       16356773                                                       251000                   20060501                       100     GE Capital MI                                                       2.25
       16356774                                                       116850                   20060601                        95     Mortgage Guaranty In                                                2.25
       16356775                                                       127800                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356777                                                       295000                   20060601                       100     GE Capital MI                                                       2.25
       16356778                                                       210000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356779                                                       245000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356780                                                       175950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356781                                                       351150                   20060601               94.91000366     GE Capital MI                                                       2.25
       16356782                                                       206000                   20060501                       100     GE Capital MI                                                       2.25
       16356783                                                       158950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356784                                                       234900                   20060501               99.98000336     Mortgage Guaranty In                                                2.25
       16356786                                                       109700                   20060501               89.98999786     Republic MIC                                                        2.25
       16356787                                                       425500                   20060601               79.68000031     No MI                                                               2.25
       16356788                                                       431900                   20060601                        80     No MI                                                               2.25
       16356789                                                       171950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356790                                                       219900                   20060501                       100     GE Capital MI                                                       2.25
       16356791                                                       520000                   20060601                        80     No MI                                                               2.25
       16356792                                                       182000                   20060601                       100     GE Capital MI                                                       2.25
       16356793                                                       120400                   20060501                       100     GE Capital MI                                                       2.25
       16356794                                                       165600                   20060501                        90     Mortgage Guaranty In                                                2.25
       16356795                                                       365000                   20060501                       100     GE Capital MI                                                       2.25
       16356796                                                       307000                   20060501                       100     GE Capital MI                                                       2.25
       16356797                                                       100000                   20060501                        50     No MI                                                               2.25
       16356798                                                       182650                   20060501               89.98000336     GE Capital MI                                                       2.25
       16356799                                                       103100                   20060501               79.98000336     No MI                                                               2.25
       16356800                                                       483350                   20060501               78.58999634     No MI                                                               2.25
       16356801                                                       137655                   20060601                        95     GE Capital MI                                                       2.25
       16356802                                                       204950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356803                                                       144000                   20060601                       100     GE Capital MI                                                       2.25
       16356804                                                       162300                   20060601               79.98999786     No MI                                                               2.25
       16356805                                                       272000                   20060601                       100     GE Capital MI                                                       2.25
       16356806                                                       252650                   20060501               88.65000153     GE Capital MI                                                       2.25
       16356807                                                       340500                   20060501               94.98999786     GE Capital MI                                                       2.25
       16356808                                                       243250                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356809                                                       104900                   20060601                       100     GE Capital MI                                                       2.25
       16356810                                                        88000                   20060601                       100     GE Capital MI                                                       2.25
       16356811                                                       160000                   20060601                     88.25     GE Capital MI                                                       2.25
       16356812                                                       224900                   20060501                       100     GE Capital MI                                                       2.25
       16356813                                                       124000                   20060601                       100     GE Capital MI                                                       2.25
       16356814                                                       308000                   20060501                        80     No MI                                                               2.25
       16356815                                                       171850                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356819                                                       386000                   20060601                       100     GE Capital MI                                                       2.25
       16356820                                                       210850                   20060701               99.98000336     GE Capital MI                                                       2.25
       16356821                                                       156000                   20060501                        80     No MI                                                               2.25
       16356822                                                        80000                   20060601                       100     GE Capital MI                                                       2.25
       16356823                                                       348000                   20060601                       100     GE Capital MI                                                       2.25
       16356824                                                       349800                   20060501                       100     GE Capital MI                                                       2.25
       16356825                                                       564000                   20060601               75.19999695     No MI                                                               2.25
       16356826                                                        86400                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356827                                                       181750                   20060601               89.98000336     GE Capital MI                                                       2.25
       16356828                                                       142950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356829                                                       253150                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356830                                                       234100                   20060701               79.98999786     No MI                                                               2.25
       16356831                                                       175000                   20060601                       100     GE Capital MI                                                       2.25
       16356832                                                       217000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356833                                                       189950                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356834                                                       239900                   20060601                       100     GE Capital MI                                                       2.25
       16356835                                                       283500                   20060601               99.16000366     GE Capital MI                                                       2.25
       16356836                                                       200550                   20060501                       100     GE Capital MI                                                       2.25
       16356837                                                      1731200                   20060601               43.27999878     No MI                                                               2.25
       16356838                                                       910000                   20060601                        56     No MI                                                               2.25
       16356839                                                       162500                   20060601                       100     GE Capital MI                                                       2.25
       16356840                                                       157500                   20060601                       100     GE Capital MI                                                       2.25
       16356841                                                       200050                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356842                                                       220000                   20060601               40.36999893     No MI                                                               2.25
       16356843                                                       239900                   20060601                       100     GE Capital MI                                                       2.25
       16356844                                                       146350                   20060701               99.97000122     GE Capital MI                                                       2.25
       16356845                                                       175100                   20060601               79.98999786     No MI                                                               2.25
       16356846                                                       101550                   20060701               79.97000122     No MI                                                               2.25
       16356847                                                       104650                   20060701               79.88999939     No MI                                                               2.25
       16356848                                                       450000                   20060701                        90     GE Capital MI                                                       2.25
       16356849                                                       190900                   20060601                       100     GE Capital MI                                                       2.25
       16356850                                                       249500                   20060601                       100     GE Capital MI                                                       2.25
       16356851                                                       205900                   20060601                       100     GE Capital MI                                                       2.25
       16356852                                                       426000                   20060601                        80     No MI                                                               2.25
       16356853                                                       183500                   20060601                       100     GE Capital MI                                                       2.25
       16356854                                                       293950                   20060701               99.98999786     GE Capital MI                                                       2.25
       16356855                                                       256500                   20060801                        90     Republic MIC                                                        2.25
       16356856                                                       170000                   20060601                       100     GE Capital MI                                                       2.25
       16356857                                                       340000                   20060701                       100     GE Capital MI                                                       2.25
       16356858                                                       146400                   20060701                       100     GE Capital MI                                                       2.25
       16356859                                                       231000                   20060601                       100     GE Capital MI                                                       2.25
       16356860                                                       198900                   20060601                       100     GE Capital MI                                                       2.25
       16356861                                                       182000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356862                                                       144990                   20060701                       100     GE Capital MI                                                       2.25
       16356863                                                       135000                   20060601                       100     GE Capital MI                                                       2.25
       16356864                                                       265000                   20060601                       100     GE Capital MI                                                       2.25
       16356865                                                       250000                   20060601               58.81999969     No MI                                                               2.25
       16356866                                                       144000                   20060601                        90     GE Capital MI                                                       2.25
       16356867                                                       324000                   20060601                       100     GE Capital MI                                                       2.25
       16356868                                                       113000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356869                                                       139900                   20060601               99.94000244     GE Capital MI                                                       2.25
       16356870                                                       213000                   20060601                       100     GE Capital MI                                                       2.25
       16356871                                                       452000                   20060701                       100     GE Capital MI                                                       2.25
       16356872                                                       194000                   20060601                       100     GE Capital MI                                                       2.25
       16356873                                                       619900                   20060701                        80     No MI                                                               2.25
       16356874                                                       423200                   20060701                        80     No MI                                                               2.25
       16356875                                                       385000                   20060601                       100     GE Capital MI                                                       2.25
       16356876                                                       190000                   20060601                       100     GE Capital MI                                                       2.25
       16356877                                                       123000                   20060501                       100     GE Capital MI                                                       2.25
       16356878                                                       906050                   20060601               56.81000137     No MI                                                               2.25
       16356879                                                       194900                   20060701                       100     GE Capital MI                                                       2.25
       16356880                                                       129900                   20060601                       100     GE Capital MI                                                       2.25
       16356881                                                       327850                   20060601                       100     GE Capital MI                                                       2.25
       16356882                                                       260000                   20060601                       100     GE Capital MI                                                       2.25
       16356883                                                       185500                   20060601                       100     GE Capital MI                                                       2.25
       16356884                                                       169550                   20060601               79.98000336     No MI                                                               2.25
       16357354                                                       173600                   20060801               65.76999664     No MI                                                               2.25
       16357355                                                       203200                   20060801                        80     No MI                                                               2.25
       16357356                                                       188300                   20060801               79.98999786     No MI                                                               2.25
       16357357                                                       115100                   20060801               84.97000122     GE Capital MI                                                       2.25
       16357338                                                       598500                   20060801                        90     Republic MIC                                                        2.25
       16357339                                                        91900                   20060701               68.06999969     No MI                                                               2.25
       16357340                                                       116000                   20060701                       100     GE Capital MI                                                       2.25
       16357341                                                       374400                   20060701                        80     No MI                                                               2.25
       16357342                                                       114900                   20060701               74.80999756     No MI                                                               2.25
       16357343                                                       233200                   20060801                        80     No MI                                                               2.25
       16357344                                                       358100                   20060801               79.58000183     No MI                                                               2.25
       16357345                                                       535000                   20060801                       100     GE Capital MI                                                       2.25
       16357346                                                       126550                   20060801                        90     GE Capital MI                                                       2.25
       16357347                                                       194900                   20060801                       100     GE Capital MI                                                       2.25
       16357348                                                       327950                   20060701               79.98999786     No MI                                                               2.25
       16357349                                                       187950                   20060801               79.98000336     No MI                                                               2.25
       16357350                                                       275100                   20060801               79.73999786     No MI                                                               2.25
       16357351                                                       130650                   20060801               94.98000336     GE Capital MI                                                       2.25
       16357352                                                        80800                   20060801                        80     No MI                                                               2.25
       16357353                                                       257650                   20060801               79.98999786     No MI                                                               2.25
       16357304                                                       261600                   20060701                        80     No MI                                                               2.25
       16357305                                                       152100                   20060701               64.86000061     No MI                                                               2.25
       16357306                                                       441000                   20060701               70.55999756     No MI                                                               2.25
       16357307                                                       223850                   20060801                        55     No MI                                                               2.25
       16357308                                                       123100                   20060701               79.98999786     No MI                                                               2.25
       16357310                                                       268550                   20060701                        80     No MI                                                               2.25
       16357312                                                       292150                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357313                                                       340000                   20060701                        80     No MI                                                               2.25
       16357314                                                       125000                   20060701                       100     GE Capital MI                                                       2.25
       16357315                                                       348000                   20060701                       100     GE Capital MI                                                       2.25
       16357316                                                       555800                   20060701               76.66000366     No MI                                                               2.25
       16357317                                                       220300                   20060701               99.97000122     GE Capital MI                                                       2.25
       16357318                                                       201500                   20060701                        65     No MI                                                               2.25
       16357319                                                       184000                   20060801               99.98999786     GE Capital MI                                                       2.25
       16357320                                                       103200                   20060701                        80     No MI                                                               2.25
       16357321                                                       351950                   20060701               79.98999786     No MI                                                               2.25
       16357322                                                       105000                   20060701                        70     No MI                                                               2.25
       16357323                                                       100700                   20060701               79.98000336     No MI                                                               2.25
       16357324                                                       280000                   20060801                       100     GE Capital MI                                                       2.25
       16357325                                                       299900                   20060701                       100     GE Capital MI                                                       2.25
       16357326                                                       146350                   20060801               79.98000336     No MI                                                               2.25
       16357327                                                       116000                   20060801                        80     No MI                                                               2.25
       16357329                                                        81200                   20060801                        80     No MI                                                               2.25
       16357330                                                       166500                   20060701                        90     GE Capital MI                                                       2.25
       16357332                                                       164800                   20060801                        80     No MI                                                               2.25
       16357333                                                       203000                   20060701                        70     No MI                                                               2.25
       16357334                                                       114400                   20060701               74.97000122     No MI                                                               2.25
       16357335                                                       238200                   20060701               41.06999969     No MI                                                               2.25
       16357336                                                       119500                   20060801               79.98999786     No MI                                                               2.25
       16357337                                                       387900                   20060801                        80     No MI                                                               2.25
       16357263                                                       683600                   20060701                        80     No MI                                                               2.25
       16357264                                                        92800                   20060801                        80     No MI                                                               2.25
       16357265                                                       211950                   20060701               74.98999786     No MI                                                               2.25
       16357266                                                       122800                   20060801                        80     No MI                                                               2.25
       16357267                                                       120000                   20060701                        80     No MI                                                               2.25
       16357268                                                       115150                   20060701               74.97000122     No MI                                                               2.25
       16357269                                                       222500                   20060801               84.76000214     GE Capital MI                                                       2.25
       16357270                                                       132950                   20060801               99.97000122     GE Capital MI                                                       2.25
       16357271                                                       391900                   20060801                        80     No MI                                                               2.25
       16357273                                                       224000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357274                                                       238000                   20060701                        80     No MI                                                               2.25
       16357275                                                       119900                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357276                                                        82000                   20060701                       100     GE Capital MI                                                       2.25
       16357277                                                       197000                   20060801                       100     GE Capital MI                                                       2.25
       16357278                                                       217700                   20060801                        90     Mortgage Guaranty In                                                2.25
       16357279                                                       140000                   20060701                       100     GE Capital MI                                                       2.25
       16357280                                                       456000                   20060801               67.55999756     No MI                                                               2.25
       16357281                                                       469900                   20060701                       100     GE Capital MI                                                       2.25
       16357283                                                       152900                   20060701                       100     GE Capital MI                                                       2.25
       16357284                                                       460800                   20060701               79.97000122     No MI                                                               2.25
       16357285                                                       136000                   20060701                        80     No MI                                                               2.25
       16357286                                                       153850                   20060701               79.98000336     No MI                                                               2.25
       16357287                                                        84800                   20060701                        80     No MI                                                               2.25
       16357288                                                       560000                   20060701                        80     No MI                                                               2.25
       16357289                                                       237500                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357290                                                       184000                   20060701                        80     No MI                                                               2.25
       16357292                                                       372000                   20060801                        80     No MI                                                               2.25
       16357293                                                       110400                   20060701                        80     No MI                                                               2.25
       16357294                                                       110650                   20060701               79.97000122     No MI                                                               2.25
       16357295                                                       448000                   20060701                        80     No MI                                                               2.25
       16357296                                                       200000                   20060801                        80     No MI                                                               2.25
       16357297                                                       132900                   20060701               79.95999908     No MI                                                               2.25
       16357298                                                       160000                   20060701                       100     GE Capital MI                                                       2.25
       16357299                                                       562500                   20060701                       100     GE Capital MI                                                       2.25
       16357300                                                       594300                   20060701               79.98999786     No MI                                                               2.25
       16357301                                                        86400                   20060701                        80     No MI                                                               2.25
       16357302                                                       231900                   20060701                       100     GE Capital MI                                                       2.25
       16357303                                                       117500                   20060701                       100     GE Capital MI                                                       2.25
       16357252                                                       198000                   20060801               63.45999908     No MI                                                               2.25
       16357253                                                       615000                   20060701               63.93000031     No MI                                                               2.25
       16357254                                                       151800                   20060701               67.47000122     No MI                                                               2.25
       16357255                                                       261700                   20060701                       100     GE Capital MI                                                       2.25
       16357256                                                       139950                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357257                                                       614000                   20060801                        80     No MI                                                               2.25
       16357258                                                       114450                   20060701               74.80999756     No MI                                                               2.25
       16357259                                                       300000                   20060701               68.18000031     No MI                                                               2.25
       16357260                                                       224000                   20060701                        80     No MI                                                               2.25
       16357261                                                       425200                   20060801                       100     GE Capital MI                                                       2.25
       16357232                                                       365000                   20060701                       100     GE Capital MI                                                       2.25
       16357233                                                       349000                   20060801                       100     GE Capital MI                                                       2.25
       16357234                                                       294500                   20060701                        95     GE Capital MI                                                       2.25
       16357235                                                       575000                   20060801                       100     GE Capital MI                                                       2.25
       16357236                                                        63700                   20060701                        65     No MI                                                               2.25
       16357237                                                       283900                   20060701               79.98999786     No MI                                                               2.25
       16357238                                                       232000                   20060701                        80     No MI                                                               2.25
       16357239                                                       123400                   20060701                        95     GE Capital MI                                                       2.25
       16357240                                                       137900                   20060701                      98.5     GE Capital MI                                                       2.25
       16357241                                                       141200                   20060701                       100     GE Capital MI                                                       2.25
       16357242                                                       519900                   20060801                        80     No MI                                                               2.25
       16357243                                                       107100                   20060701               79.98999786     No MI                                                               2.25
       16357244                                                       174900                   20060701                       100     GE Capital MI                                                       2.25
       16357245                                                       237000                   20060701                       100     GE Capital MI                                                       2.25
       16357246                                                       220000                   20060701                       100     GE Capital MI                                                       2.25
       16357247                                                        85600                   20060701                        80     No MI                                                               2.25
       16357248                                                       312800                   20060701                        80     No MI                                                               2.25
       16357249                                                       169600                   20060801                        80     No MI                                                               2.25
       16357250                                                       100000                   20060701               41.66999817     No MI                                                               2.25
       16357251                                                       150100                   20060801               99.98999786     GE Capital MI                                                       2.25
       16357212                                                       143400                   20060801               98.29000092     GE Capital MI                                                       2.25
       16357213                                                       130250                   20060701               94.37999725     GE Capital MI                                                       2.25
       16357214                                                       920000                   20060701                        80     No MI                                                               2.25
       16357215                                                       210300                   20060701               79.98999786     No MI                                                               2.25
       16357216                                                       138000                   20060701                       100     GE Capital MI                                                       2.25
       16357217                                                       119900                   20060801               79.98999786     No MI                                                               2.25
       16357218                                                       432800                   20060701                        80     No MI                                                               2.25
       16357219                                                       278850                   20060701               89.98000336     GE Capital MI                                                       2.25
       16357220                                                       137000                   20060701                       100     GE Capital MI                                                       2.25
       16357221                                                       264100                   20060701                        95     GE Capital MI                                                       2.25
       16357222                                                       115900                   20060701               79.98999786     No MI                                                               2.25
       16357223                                                       140000                   20060701                        80     No MI                                                               2.25
       16357224                                                       500000                   20060701               71.73999786     No MI                                                               2.25
       16357225                                                       275000                   20060701               91.66999817     GE Capital MI                                                       2.25
       16357226                                                       195900                   20060701                       100     GE Capital MI                                                       2.25
       16357227                                                       105600                   20060701                        80     No MI                                                               2.25
       16357228                                                       680000                   20060701                        80     No MI                                                               2.25
       16357229                                                       178650                   20060701               80.47000122     Mortgage Guaranty In                                                2.25
       16357230                                                       480000                   20060701                       100     GE Capital MI                                                       2.25
       16357231                                                       120000                   20060801                       100     GE Capital MI                                                       2.25
       16357643                                                       122400                   20060701                        80     No MI                                                               2.25
       16357644                                                       187850                   20060801               79.98999786     No MI                                                               2.25
       16357645                                                       134400                   20060701                        80     No MI                                                               2.25
       16357646                                                       287200                   20060801                        80     No MI                                                               2.25
       16357647                                                       448000                   20060701                        80     No MI                                                               2.25
       16357648                                                       139000                   20060701                       100     GE Capital MI                                                       2.25
       16357649                                                       111150                   20060701               79.97000122     No MI                                                               2.25
       16357650                                                       228700                   20060701               62.65999985     No MI                                                               2.25
       16357651                                                       216000                   20060701               61.70999908     No MI                                                               2.25
       16357652                                                       177500                   20060701               58.58000183     No MI                                                               2.25
       16357653                                                       243800                   20060801               77.40000153     No MI                                                               2.25
       16357655                                                       800000                   20060701                        80     No MI                                                               2.25
       16357656                                                       100000                   20060801               33.33000183     No MI                                                               2.25
       16357657                                                       125850                   20060801               74.02999878     No MI                                                               2.25
       16357658                                                       215550                   20060701               65.31999969     No MI                                                               2.25
       16357659                                                       221500                   20060801               75.08000183     No MI                                                               2.25
       16357660                                                       184000                   20060801                        80     No MI                                                               2.25
       16357661                                                       160000                   20060801                        80     No MI                                                               2.25
       16357663                                                       202800                   20060701                        80     No MI                                                               2.25
       16357664                                                       163900                   20060801               79.98999786     No MI                                                               2.25
       16357665                                                       782000                   20060801               65.16999817     No MI                                                               2.25
       16357666                                                       165500                   20060801               79.98999786     No MI                                                               2.25
       16357667                                                       455100                   20060701                        80     No MI                                                               2.25
       16357668                                                       117750                   20060701               74.98000336     No MI                                                               2.25
       16357669                                                       650000                   20060801               54.84999847     No MI                                                               2.25
       16357670                                                       320900                   20060701               94.98999786     GE Capital MI                                                       2.25
       16357671                                                       240150                   20060801               84.98999786     GE Capital MI                                                       2.25
       16357672                                                       376800                   20060801                        80     No MI                                                               2.25
       16357673                                                       160050                   20060801               79.98999786     No MI                                                               2.25
       16357674                                                       300000                   20060801               44.27999878     No MI                                                               2.25
       16357675                                                       382400                   20060801                        80     No MI                                                               2.25
       16357676                                                       114250                   20060701               74.87000275     No MI                                                               2.25
       16357677                                                       262000                   20060801                       100     Mortgage Guaranty In                                                2.25
       16357678                                                       190000                   20060701               68.45999908     No MI                                                               2.25
       16357679                                                       195000                   20060801               76.47000122     No MI                                                               2.25
       16357680                                                       224000                   20060801                        70     No MI                                                               2.25
       16357623                                                       776000                   20060701                        80     No MI                                                               2.25
       16357624                                                       179900                   20060701               79.98999786     No MI                                                               2.25
       16357625                                                       208000                   20060701                       100     GE Capital MI                                                       2.25
       16357626                                                       190000                   20060701                        95     GE Capital MI                                                       2.25
       16357627                                                       651100                   20060701               50.09000015     No MI                                                               2.25
       16357628                                                       162400                   20060701                        80     No MI                                                               2.25
       16357629                                                       166150                   20060701               79.98999786     No MI                                                               2.25
       16357630                                                       127750                   20060701               94.98000336     GE Capital MI                                                       2.25
       16357631                                                       185550                   20060701                       100     GE Capital MI                                                       2.25
       16357632                                                       206000                   20060701                       100     GE Capital MI                                                       2.25
       16357633                                                       183900                   20060801               79.98000336     No MI                                                               2.25
       16357634                                                       121400                   20060701               64.94999695     No MI                                                               2.25
       16357635                                                       132000                   20060801                       100     GE Capital MI                                                       2.25
       16357636                                                       444600                   20060801               68.40000153     No MI                                                               2.25
       16357637                                                       118000                   20060701                        80     No MI                                                               2.25
       16357638                                                       165800                   20060701               79.98000336     No MI                                                               2.25
       16357639                                                       121200                   20060701                        80     No MI                                                               2.25
       16357640                                                       105300                   20060701                        65     No MI                                                               2.25
       16357641                                                       152750                   20060701                        65     No MI                                                               2.25
       16357642                                                       179950                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357583                                                       164500                   20060701                        70     No MI                                                               2.25
       16357584                                                       556000                   20060701                        80     No MI                                                               2.25
       16357585                                                       206300                   20060801               79.98999786     No MI                                                               2.25
       16357587                                                       478000                   20060701               77.98000336     No MI                                                               2.25
       16357588                                                       781000                   20060701               79.29000092     No MI                                                               2.25
       16357590                                                       159600                   20060701                        80     No MI                                                               2.25
       16357591                                                        77400                   20060701                        90     GE Capital MI                                                       2.25
       16357592                                                       132750                   20060701                        90     GE Capital MI                                                       2.25
       16357593                                                       480000                   20060701                       100     GE Capital MI                                                       2.25
       16357594                                                       332500                   20060701                        95     GE Capital MI                                                       2.25
       16357595                                                       750000                   20060701               68.18000031     No MI                                                               2.25
       16357596                                                       277400                   20060701               79.26000214     No MI                                                               2.25
       16357597                                                       319500                   20060701               76.06999969     No MI                                                               2.25
       16357599                                                       756600                   20060701                        80     No MI                                                               2.25
       16357600                                                       179000                   20060701                       100     GE Capital MI                                                       2.25
       16357601                                                       202500                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357602                                                       134400                   20060701                        80     No MI                                                               2.25
       16357603                                                       305050                   20060701                       100     GE Capital MI                                                       2.25
       16357604                                                       277000                   20060701               90.81999969     GE Capital MI                                                       2.25
       16357605                                                       265000                   20060701                       100     GE Capital MI                                                       2.25
       16357606                                                       229800                   20060701                        80     No MI                                                               2.25
       16357607                                                       230000                   20060701                        80     No MI                                                               2.25
       16357608                                                        88800                   20060701                        80     No MI                                                               2.25
       16357609                                                       132750                   20060701               79.97000122     No MI                                                               2.25
       16357610                                                       117600                   20060701                        80     No MI                                                               2.25
       16357611                                                       208000                   20060801                        80     No MI                                                               2.25
       16357612                                                       193600                   20060701                        80     No MI                                                               2.25
       16357613                                                       244000                   20060801                        80     No MI                                                               2.25
       16357614                                                       207950                   20060701               59.40999985     No MI                                                               2.25
       16357616                                                       396000                   20060801                        80     No MI                                                               2.25
       16357617                                                       175800                   20060701                       100     GE Capital MI                                                       2.25
       16357618                                                       233900                   20060701                       100     GE Capital MI                                                       2.25
       16357619                                                       172000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357620                                                       211700                   20060701               91.12000275     GE Capital MI                                                       2.25
       16357621                                                       195000                   20060801                       100     GE Capital MI                                                       2.25
       16357622                                                       109500                   20060701               79.98999786     No MI                                                               2.25
       16357581                                                       108800                   20060701                        80     No MI                                                               2.25
       16357582                                                       168350                   20060701               51.95999908     No MI                                                               2.25
       16357579                                                       327000                   20060801               75.16999817     No MI                                                               2.25
       16357577                                                       161500                   20060701                        95     GE Capital MI                                                       2.25
       16357578                                                       147150                   20060801                        80     No MI                                                               2.25
       16357571                                                       172900                   20060801                       100     GE Capital MI                                                       2.25
       16357572                                                       180800                   20060701                        80     No MI                                                               2.25
       16357573                                                       279200                   20060801                        80     No MI                                                               2.25
       16357574                                                       332500                   20060701                       100     GE Capital MI                                                       2.25
       16357575                                                       512000                   20060701                        80     No MI                                                               2.25
       16357576                                                       101550                   20060701               99.95999908     Mortgage Guaranty In                                                2.25
       16357567                                                      1331600                   20060701               66.58000183     No MI                                                               2.25
       16357568                                                       424000                   20060701                        80     No MI                                                               2.25
       16357569                                                       160950                   20060801               79.98999786     No MI                                                               2.25
       16357570                                                       236400                   20060701               89.98999786     GE Capital MI                                                       2.25
       16357561                                                       235000                   20060701                       100     GE Capital MI                                                       2.25
       16357562                                                       355000                   20060701               64.90000153     No MI                                                               2.25
       16357563                                                       125000                   20060701                       100     GE Capital MI                                                       2.25
       16357564                                                       142400                   20060701                        95     Mortgage Guaranty In                                                2.25
       16357565                                                       506900                   20060701                       100     GE Capital MI                                                       2.25
       16357566                                                       164500                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357549                                                       135550                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357550                                                       165300                   20060801                        95     GE Capital MI                                                       2.25
       16357551                                                       800000                   20060701               68.91000366     No MI                                                               2.25
       16357552                                                       323200                   20060701                        80     No MI                                                               2.25
       16357553                                                       108950                   20060701               99.51999664     Mortgage Guaranty In                                                2.25
       16357554                                                       289900                   20060701                       100     GE Capital MI                                                       2.25
       16357555                                                       584000                   20060701                        80     No MI                                                               2.25
       16357556                                                       185000                   20060701               48.24000168     No MI                                                               2.25
       16357557                                                       586500                   20060701               73.30999756     No MI                                                               2.25
       16357558                                                       147000                   20060701                       100     GE Capital MI                                                       2.25
       16357559                                                       485000                   20060701               70.80000305     No MI                                                               2.25
       16357560                                                       260000                   20060701                        80     No MI                                                               2.25
       16357543                                                       186000                   20060701                        80     No MI                                                               2.25
       16357544                                                       248350                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357545                                                       181500                   20060801                       100     GE Capital MI                                                       2.25
       16357546                                                       472000                   20060701                        80     No MI                                                               2.25
       16357547                                                       324000                   20060701                       100     GE Capital MI                                                       2.25
       16357548                                                       640450                   20060701               79.98999786     No MI                                                               2.25
       16357539                                                       175750                   20060601                        95     GE Capital MI                                                       2.25
       16357540                                                       668000                   20060701                        80     No MI                                                               2.25
       16357541                                                       496250                   20060801               63.22000122     No MI                                                               2.25
       16357542                                                       138500                   20060601                       100     GE Capital MI                                                       2.25
       16357535                                                       199200                   20060701                        80     No MI                                                               2.25
       16357536                                                       163900                   20060601                       100     GE Capital MI                                                       2.25
       16357537                                                       700000                   20060701               41.29999924     No MI                                                               2.25
       16357538                                                       239500                   20060701               78.52999878     No MI                                                               2.25
       16357531                                                       315000                   20060601                       100     GE Capital MI                                                       2.25
       16357532                                                       227900                   20060801               79.98999786     No MI                                                               2.25
       16357533                                                       485000                   20060701               74.62000275     No MI                                                               2.25
       16357534                                                       198000                   20060701                        90     Republic MIC                                                        2.25
       16357500                                                       179000                   20060601                       100     GE Capital MI                                                       2.25
       16357501                                                       475000                   20060601               77.87000275     No MI                                                               2.25
       16357502                                                       148950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16357503                                                       117950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16357504                                                       139000                   20060601                       100     GE Capital MI                                                       2.25
       16357505                                                       184900                   20060601                       100     GE Capital MI                                                       2.25
       16357506                                                       190000                   20060701                       100     GE Capital MI                                                       2.25
       16357507                                                       170000                   20060601                       100     GE Capital MI                                                       2.25
       16357508                                                       608000                   20060701               79.98999786     No MI                                                               2.25
       16357509                                                       139900                   20060601                       100     GE Capital MI                                                       2.25
       16357510                                                       139400                   20060601               89.98999786     GE Capital MI                                                       2.25
       16357511                                                       143500                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357512                                                       797000                   20060601               72.44999695     No MI                                                               2.25
       16357513                                                       113400                   20060601                        90     Mortgage Guaranty In                                                2.25
       16357514                                                       470600                   20060601               47.06000137     No MI                                                               2.25
       16357515                                                       230000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357516                                                       508700                   20060601               72.66999817     No MI                                                               2.25
       16357517                                                       309000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357518                                                       104000                   20060701                       100     GE Capital MI                                                       2.25
       16357519                                                       186500                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357520                                                       983550                   20060601               74.51000214     No MI                                                               2.25
       16357521                                                       211000                   20060701               92.13999939     GE Capital MI                                                       2.25
       16357522                                                       650000                   20060601               40.63000107     No MI                                                               2.25
       16357523                                                       720000                   20060701               57.59999847     No MI                                                               2.25
       16357524                                                       145000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357525                                                       244950                   20060601               99.98000336     GE Capital MI                                                       2.25
       16357526                                                       399990                   20060701               83.34999847     GE Capital MI                                                       2.25
       16357527                                                        64900                   20060701               72.11000061     No MI                                                               2.25
       16357528                                                       145900                   20060601                       100     GE Capital MI                                                       2.25
       16357529                                                       354400                   20060701                        80     No MI                                                               2.25
       16357530                                                       230950                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357152                                                       184000                   20060701                        80     No MI                                                               2.25
       16357153                                                       271900                   20060701               79.98999786     No MI                                                               2.25
       16357154                                                       116000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357155                                                       254400                   20060701                       100     GE Capital MI                                                       2.25
       16357156                                                       295000                   20060701                       100     GE Capital MI                                                       2.25
       16357157                                                        96000                   20060701                        80     No MI                                                               2.25
       16357158                                                       131000                   20060701                       100     GE Capital MI                                                       2.25
       16357159                                                       176000                   20060701                       100     GE Capital MI                                                       2.25
       16357160                                                       202000                   20060701                       100     GE Capital MI                                                       2.25
       16357161                                                       118400                   20060701                        80     No MI                                                               2.25
       16357162                                                       305000                   20060701                     76.25     No MI                                                               2.25
       16357163                                                       121800                   20060701                       100     GE Capital MI                                                       2.25
       16357164                                                       185000                   20060701                       100     GE Capital MI                                                       2.25
       16357166                                                       180400                   20060801               96.98999786     GE Capital MI                                                       2.25
       16357167                                                       188000                   20060701                       100     GE Capital MI                                                       2.25
       16357168                                                       650000                   20060701               79.26999664     No MI                                                               2.25
       16357169                                                       131500                   20060701               95.01000214     GE Capital MI                                                       2.25
       16357170                                                       299000                   20060701                       100     GE Capital MI                                                       2.25
       16357171                                                       228000                   20060701                        95     GE Capital MI                                                       2.25
       16357172                                                       140150                   20060701               74.98999786     No MI                                                               2.25
       16357173                                                       108000                   20060801               68.34999847     No MI                                                               2.25
       16357174                                                       115900                   20060701                       100     GE Capital MI                                                       2.25
       16357175                                                        69750                   20060701                        75     No MI                                                               2.25
       16357176                                                       141550                   20060801               79.98000336     No MI                                                               2.25
       16357177                                                        95920                   20060701                        80     No MI                                                               2.25
       16357178                                                        95120                   20060701                        80     No MI                                                               2.25
       16357179                                                       127000                   20060701                       100     GE Capital MI                                                       2.25
       16357180                                                       690000                   20060701               79.76999664     No MI                                                               2.25
       16357181                                                       198400                   20060801                        80     No MI                                                               2.25
       16357183                                                       192500                   20060801               99.94999695     GE Capital MI                                                       2.25
       16357184                                                       134400                   20060801                        80     No MI                                                               2.25
       16357185                                                       251250                   20060701                     50.25     No MI                                                               2.25
       16357186                                                       333000                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357187                                                       359000                   20060801               65.87000275     No MI                                                               2.25
       16357188                                                       244400                   20060701                       100     GE Capital MI                                                       2.25
       16357189                                                       192000                   20060701                       100     GE Capital MI                                                       2.25
       16357190                                                       258400                   20060701                        80     No MI                                                               2.25
       16357191                                                       110950                   20060701               99.95999908     GE Capital MI                                                       2.25
       16357192                                                       126950                   20060701               79.98999786     No MI                                                               2.25
       16357193                                                       450000                   20060701                       100     GE Capital MI                                                       2.25
       16357194                                                       123800                   20060701               79.98999786     No MI                                                               2.25
       16357195                                                       172100                   20060701               69.98999786     No MI                                                               2.25
       16357196                                                       424950                   20060701               57.58000183     No MI                                                               2.25
       16357197                                                       108000                   20060801                        80     No MI                                                               2.25
       16357198                                                       270000                   20060701                       100     GE Capital MI                                                       2.25
       16357199                                                       151050                   20060801               79.98999786     No MI                                                               2.25
       16357200                                                       249500                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357201                                                       375000                   20060701                       100     GE Capital MI                                                       2.25
       16357202                                                       215000                   20060701                       100     GE Capital MI                                                       2.25
       16357203                                                       331200                   20060701                        80     No MI                                                               2.25
       16357204                                                       545850                   20060801                        80     No MI                                                               2.25
       16357205                                                       359900                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357206                                                      2000000                   20060701                        50     No MI                                                               2.25
       16357207                                                       162000                   20060801                        90     GE Capital MI                                                       2.25
       16357208                                                        73850                   20060701               74.97000122     No MI                                                               2.25
       16357209                                                       126350                   20060701               79.97000122     No MI                                                               2.25
       16357210                                                       256200                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357211                                                       536550                   20060701                        80     No MI                                                               2.25
       16357136                                                       103200                   20060801                        80     No MI                                                               2.25
       16357137                                                        98950                   20060701               79.16000366     No MI                                                               2.25
       16357138                                                       302000                   20060701                       100     GE Capital MI                                                       2.25
       16357139                                                       455000                   20060701                       100     GE Capital MI                                                       2.25
       16357140                                                       185000                   20060701                       100     GE Capital MI                                                       2.25
       16357141                                                       951000                   20060701                        75     No MI                                                               2.25
       16357142                                                       439900                   20060701                        80     No MI                                                               2.25
       16357143                                                       272000                   20060701                        80     No MI                                                               2.25
       16357144                                                       110000                   20060701                       100     GE Capital MI                                                       2.25
       16357145                                                       384700                   20060701                        80     No MI                                                               2.25
       16357146                                                       111800                   20060701               99.95999908     GE Capital MI                                                       2.25
       16357148                                                       251100                   20060701               99.98000336     Mortgage Guaranty In                                                2.25
       16357149                                                       242000                   20060701               79.33999634     No MI                                                               2.25
       16357150                                                       321950                   20060701                        95     GE Capital MI                                                       2.25
       16357151                                                       540000                   20060701                        80     No MI                                                               2.25
       16357110                                                       143000                   20060701               53.95999908     No MI                                                               2.25
       16357111                                                       473000                   20060701                       100     GE Capital MI                                                       2.25
       16357112                                                       199050                   20060701                       100     GE Capital MI                                                       2.25
       16357113                                                        77150                   20060701               89.94000244     Mortgage Guaranty In                                                2.25
       16357114                                                       600000                   20060701                        80     No MI                                                               2.25
       16357115                                                       225000                   20060601                       100     GE Capital MI                                                       2.25
       16357116                                                       170000                   20060701                       100     GE Capital MI                                                       2.25
       16357117                                                       105000                   20060701                       100     GE Capital MI                                                       2.25
       16357118                                                       441200                   20060601                        80     No MI                                                               2.25
       16357119                                                        76000                   20060701                        80     No MI                                                               2.25
       16357120                                                       159450                   20060801               79.98000336     No MI                                                               2.25
       16357122                                                       145000                   20060801                       100     GE Capital MI                                                       2.25
       16357124                                                       254000                   20060701                       100     GE Capital MI                                                       2.25
       16357125                                                       359800                   20060801                       100     Mortgage Guaranty In                                                2.25
       16357126                                                       900000                   20060701               66.66999817     No MI                                                               2.25
       16357127                                                       206100                   20060701               94.98000336     GE Capital MI                                                       2.25
       16357128                                                       129600                   20060701                        80     No MI                                                               2.25
       16357129                                                       230000                   20060701                       100     GE Capital MI                                                       2.25
       16357130                                                       285000                   20060701                       100     GE Capital MI                                                       2.25
       16357131                                                       190800                   20060701                        80     No MI                                                               2.25
       16357132                                                       198750                   20060701                       100     GE Capital MI                                                       2.25
       16357133                                                       162000                   20060801                        80     No MI                                                               2.25
       16357134                                                       168100                   20060801               94.98000336     GE Capital MI                                                       2.25
       16357135                                                       280000                   20060701                       100     GE Capital MI                                                       2.25
       16357100                                                       247900                   20060701               79.98999786     No MI                                                               2.25
       16357101                                                       409500                   20060701                        90     GE Capital MI                                                       2.25
       16357102                                                       132000                   20060701                        80     No MI                                                               2.25
       16357103                                                       160800                   20060701               94.98000336     GE Capital MI                                                       2.25
       16357104                                                        84800                   20060701               79.91999817     No MI                                                               2.25
       16357105                                                       541600                   20060701               79.98000336     No MI                                                               2.25
       16357106                                                       173200                   20060701               57.72999954     No MI                                                               2.25
       16357107                                                       219500                   20060701               66.51999664     No MI                                                               2.25
       16357108                                                        80000                   20060801                       100     GE Capital MI                                                       2.25
       16357109                                                       435000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357088                                                       109800                   20060701                        90     GE Capital MI                                                       2.25
       16357089                                                       103500                   20060701                        90     GE Capital MI                                                       2.25
       16357090                                                       474100                   20060801                       100     GE Capital MI                                                       2.25
       16357092                                                       187500                   20060701                        75     No MI                                                               2.25
       16357093                                                       268850                   20060801                        95     GE Capital MI                                                       2.25
       16357094                                                       108500                   20060801                       100     GE Capital MI                                                       2.25
       16357095                                                       546050                   20060701               74.98999786     No MI                                                               2.25
       16357096                                                       320000                   20060701                        80     No MI                                                               2.25
       16357097                                                       150000                   20060701                       100     GE Capital MI                                                       2.25
       16357098                                                       104000                   20060701                       100     GE Capital MI                                                       2.25
       16357099                                                        79400                   20060701               74.97000122     No MI                                                               2.25
       16357062                                                       499050                   20060701               72.33000183     No MI                                                               2.25
       16357063                                                       354450                   20060701               57.63000107     No MI                                                               2.25
       16357064                                                       750000                   20060601               71.43000031     No MI                                                               2.25
       16357066                                                       316000                   20060801                        80     No MI                                                               2.25
       16357067                                                       257000                   20060701                       100     GE Capital MI                                                       2.25
       16357068                                                       111100                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357069                                                       267500                   20060801                       100     GE Capital MI                                                       2.25
       16357070                                                       428150                   20060701                        75     No MI                                                               2.25
       16357071                                                       166000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357072                                                       110950                   20060701               99.95999908     GE Capital MI                                                       2.25
       16357073                                                       214900                   20060701                       100     GE Capital MI                                                       2.25
       16357074                                                       117850                   20060801               89.97000122     GE Capital MI                                                       2.25
       16357075                                                       193500                   20060701                        90     Mortgage Guaranty In                                                2.25
       16357076                                                       110950                   20060701               99.95999908     GE Capital MI                                                       2.25
       16357077                                                       225000                   20060701                       100     GE Capital MI                                                       2.25
       16357078                                                       252000                   20060701                        80     No MI                                                               2.25
       16357079                                                       125000                   20060701                       100     GE Capital MI                                                       2.25
       16357080                                                       361550                   20060701               79.45999908     No MI                                                               2.25
       16357081                                                       492000                   20060801                        80     No MI                                                               2.25
       16357082                                                       188300                   20060801               79.98999786     No MI                                                               2.25
       16357083                                                       107900                   20060701               79.97000122     No MI                                                               2.25
       16357085                                                       185750                   20060701                       100     GE Capital MI                                                       2.25
       16357086                                                       166300                   20060701               81.91999817     GE Capital MI                                                       2.25
       16357087                                                       361000                   20060801                       100     GE Capital MI                                                       2.25
       16356998                                                       163100                   20060701                       100     GE Capital MI                                                       2.25
       16356999                                                       233550                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357000                                                       880000                   20060601               74.88999939     No MI                                                               2.25
       16357001                                                       316000                   20060701                        80     No MI                                                               2.25
       16357002                                                       343900                   20060701                        80     No MI                                                               2.25
       16357003                                                       368000                   20060701                        80     No MI                                                               2.25
       16357004                                                       380000                   20060701                        95     GE Capital MI                                                       2.25
       16357005                                                       480000                   20060601               69.66999817     No MI                                                               2.25
       16357006                                                       170000                   20060701               89.94999695     GE Capital MI                                                       2.25
       16357007                                                       120000                   20060701                       100     GE Capital MI                                                       2.25
       16357008                                                       279900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357009                                                        87550                   20060601               99.98999786     GE Capital MI                                                       2.25
       16357011                                                       149000                   20060601                       100     GE Capital MI                                                       2.25
       16357012                                                       206400                   20060701                        80     No MI                                                               2.25
       16357013                                                       116400                   20060701                        60     No MI                                                               2.25
       16356923                                                       694400                   20060701                        80     No MI                                                               2.25
       16356924                                                       155300                   20060601               89.98000336     GE Capital MI                                                       2.25
       16356925                                                       345100                   20060601               79.33000183     No MI                                                               2.25
       16356926                                                       927000                   20060601               68.66999817     No MI                                                               2.25
       16356927                                                       122950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356928                                                       214900                   20060601                       100     GE Capital MI                                                       2.25
       16356929                                                       140000                   20060701                       100     GE Capital MI                                                       2.25
       16356930                                                       179000                   20060601                       100     GE Capital MI                                                       2.25
       16356931                                                       165000                   20060601                       100     GE Capital MI                                                       2.25
       16356932                                                       229400                   20060701                        74     No MI                                                               2.25
       16357014                                                        73800                   20060601               79.95999908     No MI                                                               2.25
       16357015                                                       340000                   20060701                       100     GE Capital MI                                                       2.25
       16357016                                                       176000                   20060701                        80     No MI                                                               2.25
       16357017                                                       183600                   20060701                        90     Mortgage Guaranty In                                                2.25
       16357018                                                       114950                   20060601               99.95999908     GE Capital MI                                                       2.25
       16357019                                                       261000                   20060701                        90     GE Capital MI                                                       2.25
       16357020                                                       115650                   20060701                        90     GE Capital MI                                                       2.25
       16357021                                                       295000                   20060701                       100     GE Capital MI                                                       2.25
       16357022                                                       184500                   20060601                        90     Mortgage Guaranty In                                                2.25
       16357023                                                       490000                   20060801                        70     No MI                                                               2.25
       16357024                                                        76200                   20060801               89.94000244     GE Capital MI                                                       2.25
       16357025                                                       167000                   20060701                       100     GE Capital MI                                                       2.25
       16357026                                                       224000                   20060701                       100     GE Capital MI                                                       2.25
       16357027                                                       274000                   20060701                       100     GE Capital MI                                                       2.25
       16357028                                                       244950                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357029                                                       105300                   20060701                        90     Mortgage Guaranty In                                                2.25
       16356933                                                       164200                   20060601               67.56999969     No MI                                                               2.25
       16356934                                                       652650                   20060601               78.16000366     No MI                                                               2.25
       16356935                                                       186000                   20060601                       100     GE Capital MI                                                       2.25
       16356936                                                       148500                   20060701                       100     GE Capital MI                                                       2.25
       16356937                                                       336000                   20060601                        80     No MI                                                               2.25
       16356938                                                       296900                   20060601                       100     GE Capital MI                                                       2.25
       16356939                                                       379000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356940                                                       174900                   20060601                       100     GE Capital MI                                                       2.25
       16356941                                                       111200                   20060601                        80     No MI                                                               2.25
       16356942                                                        77000                   20060601                       100     GE Capital MI                                                       2.25
       16356943                                                       239000                   20060701                       100     GE Capital MI                                                       2.25
       16356944                                                       275000                   20060701                       100     GE Capital MI                                                       2.25
       16356945                                                      1000000                   20060601               58.20999908     No MI                                                               2.25
       16356946                                                       178500                   20060601                       100     GE Capital MI                                                       2.25
       16356947                                                       449500                   20060701                        80     No MI                                                               2.25
       16356948                                                       273050                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356949                                                       315000                   20060601                       100     GE Capital MI                                                       2.25
       16356950                                                       188000                   20060601                        80     No MI                                                               2.25
       16356951                                                       184550                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356952                                                       218000                   20060601                       100     GE Capital MI                                                       2.25
       16356953                                                       375000                   20060601                       100     GE Capital MI                                                       2.25
       16356954                                                       292500                   20060701                        90     Republic MIC                                                        2.25
       16356955                                                       257500                   20060601                       100     GE Capital MI                                                       2.25
       16356956                                                       148750                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356957                                                       114950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356958                                                       140000                   20060601                       100     GE Capital MI                                                       2.25
       16356959                                                       556500                   20060701                        70     No MI                                                               2.25
       16356960                                                       231000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356961                                                       279300                   20060701                       100     GE Capital MI                                                       2.25
       16356962                                                       322000                   20060801                        80     No MI                                                               2.25
       16356963                                                       350000                   20060601                       100     GE Capital MI                                                       2.25
       16356964                                                       135000                   20060701                       100     GE Capital MI                                                       2.25
       16356965                                                       185000                   20060701                       100     GE Capital MI                                                       2.25
       16356966                                                       188500                   20060601                       100     GE Capital MI                                                       2.25
       16356967                                                       120000                   20060701                       100     GE Capital MI                                                       2.25
       16356968                                                       308000                   20060701                        80     No MI                                                               2.25
       16356969                                                       123600                   20060601                       100     GE Capital MI                                                       2.25
       16356970                                                       299000                   20060601                       100     GE Capital MI                                                       2.25
       16356971                                                       207880                   20060601                       100     GE Capital MI                                                       2.25
       16356972                                                       119500                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356973                                                       450000                   20060801               54.22000122     No MI                                                               2.25
       16356974                                                       650000                   20060701               75.58000183     No MI                                                               2.25
       16356975                                                       167850                   20060701                       100     GE Capital MI                                                       2.25
       16356976                                                       287000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356977                                                       215000                   20060701               78.18000031     No MI                                                               2.25
       16356978                                                       227900                   20060701                       100     GE Capital MI                                                       2.25
       16356979                                                       468000                   20060701                        80     No MI                                                               2.25
       16356980                                                        90600                   20060701               99.97000122     GE Capital MI                                                       2.25
       16356981                                                       775200                   20060601                        80     No MI                                                               2.25
       16356982                                                       159900                   20060701                       100     GE Capital MI                                                       2.25
       16356983                                                       141050                   20060701               69.98999786     No MI                                                               2.25
       16356984                                                       364500                   20060701                        90     GE Capital MI                                                       2.25
       16356985                                                       127900                   20060801               79.98999786     No MI                                                               2.25
       16356986                                                       227900                   20060701               89.98999786     GE Capital MI                                                       2.25
       16356987                                                       175000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356988                                                       138350                   20060801               79.98000336     No MI                                                               2.25
       16356989                                                       173200                   20060801                        80     No MI                                                               2.25
       16356990                                                       223000                   20060601               89.98999786     GE Capital MI                                                       2.25
       16356991                                                       750000                   20060601               73.16999817     No MI                                                               2.25
       16356992                                                       235000                   20060601                       100     GE Capital MI                                                       2.25
       16356994                                                       214750                   20060701               79.98999786     No MI                                                               2.25
       16356995                                                       675000                   20060601               62.79000092     No MI                                                               2.25
       16356996                                                       566800                   20060701                        80     No MI                                                               2.25
       16356997                                                       150000                   20060601                       100     GE Capital MI                                                       2.25
       16357030                                                       225000                   20060601                       100     GE Capital MI                                                       2.25
       16357031                                                       381200                   20060701               94.58999634     GE Capital MI                                                       2.25
       16357032                                                       147950                   20060801               79.98000336     No MI                                                               2.25
       16357033                                                       193000                   20060701                       100     GE Capital MI                                                       2.25
       16357034                                                       356100                   20060701               30.96999931     No MI                                                               2.25
       16357035                                                       280000                   20060701                       100     GE Capital MI                                                       2.25
       16357036                                                       117000                   20060801               79.59999847     No MI                                                               2.25
       16357037                                                       328000                   20060701                       100     GE Capital MI                                                       2.25
       16357038                                                      1330000                   20060701               69.62999725     No MI                                                               2.25
       16357039                                                       180000                   20060701                       100     GE Capital MI                                                       2.25
       16357040                                                       136000                   20060701                        80     No MI                                                               2.25
       16357041                                                        98300                   20060701               79.98000336     No MI                                                               2.25
       16357042                                                        98300                   20060701               79.98000336     No MI                                                               2.25
       16357043                                                       223000                   20060601                       100     GE Capital MI                                                       2.25
       16357044                                                       194700                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357045                                                       205900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357046                                                       332400                   20060601                        95     GE Capital MI                                                       2.25
       16357047                                                       166200                   20060601               93.63999939     GE Capital MI                                                       2.25
       16357048                                                       462800                   20060701                        80     No MI                                                               2.25
       16357049                                                       147550                   20060601               89.97000122     GE Capital MI                                                       2.25
       16357050                                                       372500                   20060801                       100     GE Capital MI                                                       2.25
       16357051                                                       194750                   20060701                        95     GE Capital MI                                                       2.25
       16357052                                                       100000                   20060801               68.97000122     No MI                                                               2.25
       16357053                                                       209800                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357054                                                       256700                   20060701                       100     GE Capital MI                                                       2.25
       16357055                                                       330700                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357056                                                       183900                   20060701               79.98999786     No MI                                                               2.25
       16357057                                                       142500                   20060701               91.34999847     GE Capital MI                                                       2.25
       16357058                                                       153600                   20060701               74.93000031     No MI                                                               2.25
       16357059                                                       608300                   20060701               79.98999786     No MI                                                               2.25
       16357060                                                       105400                   20060701               94.95999908     GE Capital MI                                                       2.25
       16357061                                                       190500                   20060701                       100     GE Capital MI                                                       2.25
       16356897                                                       129900                   20060701               94.98999786     GE Capital MI                                                       2.25
       16356898                                                       136500                   20060601                       100     GE Capital MI                                                       2.25
       16356899                                                       166500                   20060801               79.98000336     No MI                                                               2.25
       16356900                                                       104900                   20060701                       100     GE Capital MI                                                       2.25
       16356901                                                       165000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356902                                                       180000                   20060601                        80     No MI                                                               2.25
       16356903                                                       354500                   20060601                       100     GE Capital MI                                                       2.25
       16356904                                                       588000                   20060601               78.40000153     No MI                                                               2.25
       16356905                                                       233600                   20060801                        80     No MI                                                               2.25
       16356906                                                       310000                   20060701                       100     GE Capital MI                                                       2.25
       16356907                                                       168000                   20060701               69.41999817     No MI                                                               2.25
       16356908                                                       284500                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356909                                                       316900                   20060701                       100     GE Capital MI                                                       2.25
       16356910                                                       130000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356911                                                       310000                   20060601                       100     GE Capital MI                                                       2.25
       16356912                                                       167400                   20060601                       100     GE Capital MI                                                       2.25
       16356913                                                       208950                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356914                                                       200000                   20060801                        80     No MI                                                               2.25
       16356915                                                       127000                   20060701                       100     GE Capital MI                                                       2.25
       16356916                                                       164000                   20060701               68.62000275     No MI                                                               2.25
       16356917                                                       800000                   20060601                        80     No MI                                                               2.25
       16356918                                                       154600                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356920                                                       388000                   20060701                        80     No MI                                                               2.25
       16356921                                                       204500                   20060701                       100     GE Capital MI                                                       2.25
       16356922                                                       194700                   20060601                       100     GE Capital MI                                                       2.25
       16356885                                                       373500                   20060601                       100     GE Capital MI                                                       2.25
       16356886                                                       175500                   20060601                       100     GE Capital MI                                                       2.25
       16356887                                                       515450                   20060601               79.30000305     No MI                                                               2.25
       16356888                                                       330000                   20060601                       100     GE Capital MI                                                       2.25
       16356889                                                       255000                   20060601                       100     GE Capital MI                                                       2.25
       16356890                                                      1200000                   20060601                        75     No MI                                                               2.25
       16356891                                                       422000                   20060701                        80     No MI                                                               2.25
       16356892                                                       255500                   20060601                       100     GE Capital MI                                                       2.25
       16356893                                                       208000                   20060601               89.84999847     GE Capital MI                                                       2.25
       16356894                                                       175000                   20060601                       100     GE Capital MI                                                       2.25
       16356895                                                       186000                   20060801                        80     No MI                                                               2.25
       16356896                                                      1200000                   20060701               61.54000092     No MI                                                               2.25
       16356713                                                       330000                   20060501                       100     GE Capital MI                                                       2.25
       16356714                                                       174600                   20060501               73.83000183     No MI                                                               2.25
       16356715                                                       117400                   20060501                       100     GE Capital MI                                                       2.25
       16356716                                                       195000                   20060501                       100     GE Capital MI                                                       2.25
       16356717                                                       189900                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356718                                                       275000                   20060501                       100     GE Capital MI                                                       2.25
       16356719                                                       196650                   20060501                        95     GE Capital MI                                                       2.25
       16356720                                                        84650                   20060701               74.98000336     No MI                                                               2.25
       16356721                                                       233900                   20060601                       100     GE Capital MI                                                       2.25
       16356722                                                       185000                   20060601                       100     GE Capital MI                                                       2.25
       16356723                                                       612000                   20060501                        80     No MI                                                               2.25
       16356724                                                       273700                   20060601                       100     GE Capital MI                                                       2.25
       16356683                                                       196800                   20060501                        80     No MI                                                               2.25
       16356684                                                       260000                   20060601                        95     GE Capital MI                                                       2.25
       16356685                                                       254000                   20060501                       100     GE Capital MI                                                       2.25
       16356686                                                       155000                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356687                                                       117000                   20060501                       100     GE Capital MI                                                       2.25
       16356688                                                       386900                   20060701                       100     GE Capital MI                                                       2.25
       16356689                                                       185000                   20060601                       100     GE Capital MI                                                       2.25
       16356690                                                       788000                   20060501                        80     No MI                                                               2.25
       16356691                                                       414500                   20060601               78.20999908     No MI                                                               2.25
       16356692                                                       171950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356693                                                       220500                   20060601                        90     GE Capital MI                                                       2.25
       16356694                                                       162950                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356695                                                       257000                   20060601                       100     GE Capital MI                                                       2.25
       16356696                                                       182000                   20060501               97.37999725     GE Capital MI                                                       2.25
       16356697                                                       242450                   20060501               77.70999908     No MI                                                               2.25
       16356698                                                       232000                   20060501                       100     GE Capital MI                                                       2.25
       16356699                                                       210000                   20060501                       100     GE Capital MI                                                       2.25
       16356700                                                       100000                   20060501                       100     GE Capital MI                                                       2.25
       16356701                                                       180000                   20060601                        80     No MI                                                               2.25
       16356702                                                       193000                   20060501                       100     GE Capital MI                                                       2.25
       16356703                                                       167900                   20060501                       100     GE Capital MI                                                       2.25
       16356704                                                       235000                   20060501                       100     GE Capital MI                                                       2.25
       16356705                                                       177000                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356706                                                       127550                   20060801               89.98999786     GE Capital MI                                                       2.25
       16356707                                                       122300                   20060501               79.98999786     No MI                                                               2.25
       16356708                                                       139600                   20060801               99.98000336     GE Capital MI                                                       2.25
       16356709                                                       604000                   20060501                        80     No MI                                                               2.25
       16356710                                                       191300                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356711                                                       215000                   20060501                       100     GE Capital MI                                                       2.25
       16356712                                                       144900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356641                                                       175000                   20060501                       100     GE Capital MI                                                       2.25
       16356642                                                       234000                   20060501               75.48000336     No MI                                                               2.25
       16356643                                                       427500                   20060501               79.98000336     No MI                                                               2.25
       16356644                                                       229950                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356645                                                       217600                   20060601                        80     No MI                                                               2.25
       16356646                                                       512000                   20060501                        80     No MI                                                               2.25
       16356647                                                       110000                   20060501               89.95999908     Mortgage Guaranty In                                                2.25
       16356648                                                       177000                   20060501                       100     GE Capital MI                                                       2.25
       16356649                                                       110000                   20060501               89.95999908     Mortgage Guaranty In                                                2.25
       16356650                                                       133500                   20060501                       100     GE Capital MI                                                       2.25
       16356651                                                       604000                   20060501                        80     No MI                                                               2.25
       16356652                                                       407000                   20060501                       100     GE Capital MI                                                       2.25
       16356653                                                       113750                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356654                                                       152500                   20060501               67.33000183     No MI                                                               2.25
       16356655                                                       490000                   20060601                        80     No MI                                                               2.25
       16356656                                                       119000                   20060701                       100     GE Capital MI                                                       2.25
       16356657                                                       650000                   20060501               68.41999817     No MI                                                               2.25
       16356658                                                       117950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356659                                                       250000                   20060501                       100     GE Capital MI                                                       2.25
       16356660                                                       196000                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356661                                                       488000                   20060601                        80     No MI                                                               2.25
       16356662                                                       199900                   20060501                       100     GE Capital MI                                                       2.25
       16356663                                                      1750000                   20060601               76.08999634     No MI                                                               2.25
       16356664                                                       234000                   20060501               93.59999847     GE Capital MI                                                       2.25
       16356665                                                       171200                   20060601               99.98000336     GE Capital MI                                                       2.25
       16356666                                                       173800                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356667                                                      1000000                   20060501               60.79000092     No MI                                                               2.25
       16356668                                                       136000                   20060501                       100     GE Capital MI                                                       2.25
       16356670                                                       251000                   20060501                       100     GE Capital MI                                                       2.25
       16356671                                                       180000                   20060501                       100     GE Capital MI                                                       2.25
       16356672                                                       124350                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356673                                                       719200                   20060701                        80     No MI                                                               2.25
       16356674                                                       993350                   20060601               53.70000076     No MI                                                               2.25
       16356675                                                        80000                   20060501                       100     GE Capital MI                                                       2.25
       16356676                                                       210000                   20060501                       100     GE Capital MI                                                       2.25
       16356677                                                       199500                   20060501                       100     GE Capital MI                                                       2.25
       16356678                                                       237950                   20060701               79.98000336     No MI                                                               2.25
       16356679                                                       119600                   20060501                        80     No MI                                                               2.25
       16356680                                                       150000                   20060501                       100     GE Capital MI                                                       2.25
       16356681                                                       649950                   20060501               64.34999847     No MI                                                               2.25
       16356682                                                       727850                   20060501               77.43000031     No MI                                                               2.25
       16356474                                                       160000                   20060201                        80     No MI                                                               2.25
       16356475                                                       565200                   20060201               72.93000031     No MI                                                               2.25
       16356476                                                       128500                   20060201                     64.25     No MI                                                               2.25
       16356477                                                       476350                   20060301               79.26000214     No MI                                                               2.25
       16356478                                                       125600                   20060201                        80     No MI                                                               2.25
       16356479                                                       174000                   20060201                        80     No MI                                                               2.25
       16356480                                                       151200                   20060201                     78.75     No MI                                                               2.25
       16356481                                                       568050                   20060201               66.44000244     No MI                                                               2.25
       16356482                                                      1000000                   20060201               71.87999725     No MI                                                               2.25
       16356483                                                       187100                   20060301               79.98999786     No MI                                                               2.25
       16356484                                                       477300                   20060201               79.55000305     No MI                                                               2.25
       16356485                                                       188800                   20060201                        80     No MI                                                               2.25
       16356486                                                       150300                   20060201               79.98999786     No MI                                                               2.25
       16356487                                                       325000                   20060201               55.09000015     No MI                                                               2.25
       16356488                                                       152000                   20060201                        80     No MI                                                               2.25
       16356489                                                       210000                   20060301               49.61000061     No MI                                                               2.25
       16356490                                                       140350                   20060201               89.98999786     GE Capital MI                                                       2.25
       16356491                                                       367500                   20060201               71.36000061     No MI                                                               2.25
       16356492                                                       445000                   20060201               75.41999817     No MI                                                               2.25
       16356493                                                       650000                   20060201               75.81999969     No MI                                                               2.25
       16356494                                                       300700                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356495                                                       374200                   20060201               74.38999939     No MI                                                               2.25
       16356625                                                       170000                   20060501                       100     GE Capital MI                                                       2.25
       16356626                                                      1430000                   20060501               62.16999817     No MI                                                               2.25
       16356627                                                       300000                   20060501                       100     GE Capital MI                                                       2.25
       16356628                                                       135000                   20060501                       100     GE Capital MI                                                       2.25
       16356629                                                       310000                   20060501                       100     GE Capital MI                                                       2.25
       16356630                                                       219000                   20060501                       100     GE Capital MI                                                       2.25
       16356631                                                       552000                   20060501                        80     No MI                                                               2.25
       16356632                                                       169900                   20060601                       100     GE Capital MI                                                       2.25
       16356633                                                       222900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356634                                                       407700                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356635                                                       366500                   20060501               65.44999695     No MI                                                               2.25
       16356636                                                       290150                   20060501                       100     GE Capital MI                                                       2.25
       16356637                                                       198400                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356638                                                       183700                   20060501               79.51999664     No MI                                                               2.25
       16356639                                                       287000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356640                                                       311600                   20060501                        95     GE Capital MI                                                       2.25
       16356496                                                       113950                   20060201               94.97000122     GE Capital MI                                                       2.25
       16356497                                                       512800                   20060201                        80     No MI                                                               2.25
       16356498                                                       109350                   20060201               75.98999786     No MI                                                               2.25
       16356499                                                       270000                   20060201                       100     GE Capital MI                                                       2.25
       16356500                                                       138600                   20060201               98.30000305     GE Capital MI                                                       2.25
       16356501                                                       213050                   20060201               79.98999786     No MI                                                               2.25
       16356502                                                       307900                   20060201               79.98999786     No MI                                                               2.25
       16356503                                                       176800                   20060201               89.98000336     Mortgage Guaranty In                                                2.25
       16356504                                                       960000                   20060201                        80     No MI                                                               2.25
       16356505                                                       100300                   20060201                        85     Republic MIC                                                        2.25
       16356506                                                       238400                   20060201                        80     No MI                                                               2.25
       16356507                                                       163800                   20060201                        90     GE Capital MI                                                       2.25
       16356508                                                       561000                   20060201               70.20999908     No MI                                                               2.25
       16356509                                                       180000                   20060301                        80     No MI                                                               2.25
       16356510                                                       183350                   20060301                        95     GE Capital MI                                                       2.25
       16356511                                                       196300                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356512                                                       731250                   20060201                        75     No MI                                                               2.25
       16356513                                                       780000                   20060201                        80     No MI                                                               2.25
       16356514                                                      1000000                   20060801               74.77999878     No MI                                                               2.25
       16356515                                                       113600                   20060301                        80     No MI                                                               2.25
       16356516                                                       176700                   20060201               79.98999786     No MI                                                               2.25
       16356517                                                       800000                   20060201                        80     No MI                                                               2.25
       16356518                                                       315000                   20060301               57.27000046     No MI                                                               2.25
       16356519                                                       152500                   20060501                       100     GE Capital MI                                                       2.25
       16356520                                                       143900                   20060301               68.51999664     No MI                                                               2.25
       16356521                                                       626000                   20060301               65.88999939     No MI                                                               2.25
       16356522                                                      1378850                   20060601                        80     No MI                                                               2.25
       16356523                                                       329600                   20060301               79.80999756     No MI                                                               2.25
       16356524                                                       426750                   20060301               74.87000275     No MI                                                               2.25
       16356525                                                       391400                   20060301                        95     GE Capital MI                                                       2.25
       16356527                                                       354900                   20060301                       100     GE Capital MI                                                       2.25
       16356528                                                       179600                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356529                                                       454850                   20060301               79.98999786     No MI                                                               2.25
       16356530                                                       111900                   20060301               79.98999786     No MI                                                               2.25
       16356531                                                       204000                   20060301                        80     No MI                                                               2.25
       16356532                                                       880000                   20060501                        80     No MI                                                               2.25
       16356533                                                       208000                   20060301                        80     No MI                                                               2.25
       16356534                                                       564000                   20060401                        80     No MI                                                               2.25
       16356535                                                       609000                   20060301               76.80000305     No MI                                                               2.25
       16356536                                                       505000                   20060301               63.04999924     No MI                                                               2.25
       16356537                                                       242000                   20060301               59.02000046     No MI                                                               2.25
       16356538                                                       876000                   20060301                        80     No MI                                                               2.25
       16356539                                                       276000                   20060601                       100     GE Capital MI                                                       2.25
       16356541                                                       242110                   20060601                       100     GE Capital MI                                                       2.25
       16356542                                                       335000                   20060601               99.81999969     GE Capital MI                                                       2.25
       16356543                                                       188800                   20060701               94.98999786     GE Capital MI                                                       2.25
       16356544                                                       207000                   20060301                        90     GE Capital MI                                                       2.25
       16356545                                                       123500                   20060601               89.97000122     GE Capital MI                                                       2.25
       16356546                                                       316300                   20060501                       100     GE Capital MI                                                       2.25
       16356547                                                       155000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16356548                                                       152550                   20060601                       100     GE Capital MI                                                       2.25
       16356549                                                       199000                   20060301                       100     GE Capital MI                                                       2.25
       16356550                                                       639800                   20060701               99.98999786     GE Capital MI                                                       2.25
       16356551                                                       127650                   20060701               79.98999786     No MI                                                               2.25
       16356552                                                       207000                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356553                                                       137950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356554                                                       558550                   20060501                        80     No MI                                                               2.25
       16356555                                                       300800                   20060501               99.98000336     GE Capital MI                                                       2.25
       16356556                                                       164900                   20060701                       100     GE Capital MI                                                       2.25
       16356558                                                       127900                   20060801               79.98999786     No MI                                                               2.25
       16356559                                                       457800                   20060501               79.98999786     No MI                                                               2.25
       16356560                                                       184480                   20060601                       100     GE Capital MI                                                       2.25
       16356561                                                       130050                   20060701               79.98000336     No MI                                                               2.25
       16356562                                                       240150                   20060501                       100     GE Capital MI                                                       2.25
       16356563                                                       362000                   20060701                       100     GE Capital MI                                                       2.25
       16356564                                                       218900                   20060501                       100     GE Capital MI                                                       2.25
       16356565                                                       180000                   20060501                       100     GE Capital MI                                                       2.25
       16356566                                                       124850                   20060701               99.98000336     GE Capital MI                                                       2.25
       16356567                                                       240000                   20060601                       100     GE Capital MI                                                       2.25
       16356568                                                       444800                   20060501                        80     No MI                                                               2.25
       16356569                                                       363850                   20060601               99.98999786     Mortgage Guaranty In                                                2.25
       16356570                                                       249750                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356571                                                       321900                   20060701                       100     GE Capital MI                                                       2.25
       16356572                                                       132900                   20060701               99.93000031     GE Capital MI                                                       2.25
       16356573                                                       118500                   20060501                       100     GE Capital MI                                                       2.25
       16356574                                                       208400                   20060701               99.98000336     GE Capital MI                                                       2.25
       16356575                                                       209550                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356576                                                       684650                   20060601                        80     No MI                                                               2.25
       16356577                                                       135950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356578                                                       307500                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356579                                                       300000                   20060501               79.47000122     No MI                                                               2.25
       16356580                                                       132950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356581                                                       720000                   20060601                        80     No MI                                                               2.25
       16356582                                                      1000000                   20060601               66.66999817     No MI                                                               2.25
       16356583                                                       179900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16356584                                                       383650                   20060601                        90     GE Capital MI                                                       2.25
       16356585                                                       158100                   20060501                       100     GE Capital MI                                                       2.25
       16356586                                                       209900                   20060701                       100     GE Capital MI                                                       2.25
       16356587                                                       181600                   20060501               99.98999786     GE Capital MI                                                       2.25
       16356588                                                       118000                   20060701                       100     GE Capital MI                                                       2.25
       16356589                                                       888650                   20060501               79.98000336     No MI                                                               2.25
       16356590                                                      1248750                   20060701                        75     No MI                                                               2.25
       16356591                                                       115000                   20060501                       100     GE Capital MI                                                       2.25
       16356592                                                       845000                   20060601                        65     No MI                                                               2.25
       16356593                                                       720000                   20060501                        80     No MI                                                               2.25
       16356594                                                       102250                   20060501                       100     GE Capital MI                                                       2.25
       16356595                                                       314400                   20060601               99.58999634     GE Capital MI                                                       2.25
       16356596                                                       299600                   20060501               94.69000244     GE Capital MI                                                       2.25
       16356597                                                       219000                   20060501               79.34999847     No MI                                                               2.25
       16356598                                                       436000                   20060501                        80     No MI                                                               2.25
       16356599                                                       197900                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356600                                                       543200                   20060601                        80     No MI                                                               2.25
       16356601                                                       290000                   20060501                       100     GE Capital MI                                                       2.25
       16356602                                                      1500000                   20060701               67.41999817     No MI                                                               2.25
       16356603                                                       286500                   20060601                       100     GE Capital MI                                                       2.25
       16356604                                                       193600                   20060501                        80     No MI                                                               2.25
       16356605                                                       249250                   20060701               99.98999786     GE Capital MI                                                       2.25
       16356606                                                       206600                   20060701               94.98999786     GE Capital MI                                                       2.25
       16356607                                                       183450                   20060701               99.98000336     GE Capital MI                                                       2.25
       16356608                                                       119350                   20060801                      77.5     No MI                                                               2.25
       16356609                                                       178000                   20060501                       100     GE Capital MI                                                       2.25
       16356610                                                       168000                   20060501                       100     Mortgage Guaranty In                                                2.25
       16356611                                                       659650                   20060701                        80     No MI                                                               2.25
       16356612                                                       150950                   20060701               99.97000122     GE Capital MI                                                       2.25
       16356613                                                       151500                   20060601                       100     GE Capital MI                                                       2.25
       16356614                                                       285000                   20060501                       100     GE Capital MI                                                       2.25
       16356615                                                       684000                   20060701                        80     No MI                                                               2.25
       16356616                                                       213750                   20060501                        95     GE Capital MI                                                       2.25
       16356617                                                       800000                   20060701                        80     No MI                                                               2.25
       16356618                                                      1072000                   20060501                        80     No MI                                                               2.25
       16356619                                                        87000                   20060501                       100     GE Capital MI                                                       2.25
       16356620                                                       330000                   20060501                       100     GE Capital MI                                                       2.25
       16356621                                                       388000                   20060501                       100     GE Capital MI                                                       2.25
       16356622                                                       194750                   20060501                        95     GE Capital MI                                                       2.25
       16356623                                                       688000                   20060601                        80     No MI                                                               2.25
       16356624                                                       115000                   20060601                       100     GE Capital MI                                                       2.25
       16356253                                                       186050                   20060701                        90     Mortgage Guaranty In                                                2.25
       16356254                                                       210000                   20060301               68.48999786     No MI                                                               2.25
       16356256                                                       211600                   20060601               69.98999786     No MI                                                               2.25
       16356257                                                       263300                   20060301               64.22000122     No MI                                                               2.25
       16356258                                                       193000                   20060801               77.05000305     No MI                                                               2.25
       16356260                                                       164400                   20060201               78.66000366     No MI                                                               2.25
       16356261                                                       518750                   20060701               89.05999756     GE Capital MI                                                       2.25
       16356262                                                       711000                   20060801               73.68000031     No MI                                                               2.25
       16356263                                                       128150                   20060801                        65     No MI                                                               2.25
       16356264                                                       267550                   20060701               89.98999786     GE Capital MI                                                       2.25
       16356265                                                       283250                   20060501               89.91999817     Mortgage Guaranty In                                                2.25
       16356266                                                       127700                   20060601               99.97000122     GE Capital MI                                                       2.25
       16356267                                                       234550                   20051201               79.98999786     No MI                                                               2.25
       16356268                                                       163600                   20060501               88.43000031     Mortgage Guaranty In                                                2.25
       16356269                                                       436000                   20060101               70.55000305     No MI                                                               2.25
       16356270                                                       358750                   20060501               87.93000031     GE Capital MI                                                       2.25
       16356271                                                       137950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356272                                                       159100                   20060501               86.47000122     Mortgage Guaranty In                                                2.25
       16356273                                                       128500                   20060101               64.41000366     No MI                                                               2.25
       16356274                                                       563700                   20060701                       100     GE Capital MI                                                       2.25
       16356275                                                       210000                   20060701               72.16000366     No MI                                                               2.25
       16356276                                                       149850                   20060601               89.19999695     GE Capital MI                                                       2.25
       16356277                                                       463150                   20060601                        90     GE Capital MI                                                       2.25
       16356278                                                       133300                   20060601               94.98000336     GE Capital MI                                                       2.25
       16356279                                                       320100                   20060201               89.98999786     GE Capital MI                                                       2.25
       16356280                                                       197600                   20060101                        80     No MI                                                               2.25
       16356281                                                       650000                   20060301               72.22000122     No MI                                                               2.25
       16356282                                                       250150                   20060301               89.98999786     GE Capital MI                                                       2.25
       16356283                                                       114950                   20060101                        95     GE Capital MI                                                       2.25
       16356284                                                       123200                   20060801               89.98999786     Mortgage Guaranty In                                                2.25
       16356285                                                       120400                   20060701                        90     GE Capital MI                                                       2.25
       16356286                                                       307200                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356287                                                       351000                   20060101                        65     No MI                                                               2.25
       16356288                                                       567200                   20051001                        80     No MI                                                               2.25
       16356289                                                      1260000                   20060101                        75     No MI                                                               2.25
       16356290                                                       100000                   20060101               47.93000031     No MI                                                               2.25
       16356291                                                       181100                   20060301               79.98999786     No MI                                                               2.25
       16356292                                                       971250                   20060101                        75     No MI                                                               2.25
       16356293                                                       380000                   20060101                        80     No MI                                                               2.25
       16356294                                                      1200000                   20051101                        80     No MI                                                               2.25
       16356222                                                      1136000                   20060201               63.11000061     No MI                                                               2.25
       16356223                                                       941500                   20060201               58.84000015     No MI                                                               2.25
       16356224                                                       650000                   20060501               59.09000015     No MI                                                               2.25
       16356225                                                      1415550                   20060301               35.84000015     No MI                                                               2.25
       16356226                                                       467700                   20060201                        80     No MI                                                               2.25
       16356227                                                       205500                   20060601               99.98999786     GE Capital MI                                                       2.25
       16356228                                                       363950                   20060601                       100     GE Capital MI                                                       2.25
       16356229                                                       935000                   20060301               71.91999817     No MI                                                               2.25
       16356230                                                      1500000                   20060501               68.18000031     No MI                                                               2.25
       16356231                                                       181200                   20060201                        95     GE Capital MI                                                       2.25
       16356232                                                       429550                   20060101               79.98999786     No MI                                                               2.25
       16356234                                                       138800                   20060301               79.98000336     No MI                                                               2.25
       16356235                                                       174700                   20060501               94.98999786     Mortgage Guaranty In                                                2.25
       16356236                                                       145500                   20060301               79.98999786     No MI                                                               2.25
       16356237                                                      1342500                   20060101                        75     No MI                                                               2.25
       16356238                                                       138450                   20060301               99.98000336     GE Capital MI                                                       2.25
       16356239                                                       524700                   20060601               89.08000183     GE Capital MI                                                       2.25
       16356240                                                       331600                   20060201               51.97999954     No MI                                                               2.25
       16356241                                                       207950                   20060301               79.98000336     No MI                                                               2.25
       16356242                                                       196150                   20060301               94.98000336     GE Capital MI                                                       2.25
       16356243                                                       800000                   20060601               78.05000305     No MI                                                               2.25
       16356244                                                       444000                   20060801                        80     No MI                                                               2.25
       16356246                                                       950000                   20060701               59.38000107     No MI                                                               2.25
       16356250                                                       208000                   20060101               94.97000122     GE Capital MI                                                       2.25
       16356251                                                       262550                   20060801               89.98999786     GE Capital MI                                                       2.25
       16356252                                                       298350                   20060601               89.05999756     GE Capital MI                                                       2.25
       16356373                                                       186100                   20060201                        95     GE Capital MI                                                       2.25
       16356374                                                       289400                   20060201               73.63999939     No MI                                                               2.25
       16356375                                                       229450                   20060201               89.98000336     GE Capital MI                                                       2.25
       16356376                                                       415000                   20060601                       100     GE Capital MI                                                       2.25
       16356377                                                       528000                   20060201                        80     No MI                                                               2.25
       16356378                                                       718400                   20060401                        80     No MI                                                               2.25
       16356379                                                       416000                   20060301                        80     No MI                                                               2.25
       16356380                                                       184000                   20060601                        80     No MI                                                               2.25
       16356381                                                       235200                   20060201                        80     No MI                                                               2.25
       16356382                                                       321450                   20060701               94.98999786     GE Capital MI                                                       2.25
       16356383                                                       840000                   20060201                        80     No MI                                                               2.25
       16356384                                                       540800                   20060201               34.88999939     No MI                                                               2.25
       16356385                                                       313900                   20060201               79.98999786     No MI                                                               2.25
       16356386                                                       267600                   20060201                        80     No MI                                                               2.25
       16356387                                                       576000                   20060201                        72     No MI                                                               2.25
       16356389                                                       126500                   20060301               79.98999786     No MI                                                               2.25
       16356390                                                       235400                   20060501               79.98999786     No MI                                                               2.25
       16356391                                                        93600                   20060201                        80     No MI                                                               2.25
       16356392                                                       452000                   20060201                        80     No MI                                                               2.25
       16356393                                                       720000                   20060301                        80     No MI                                                               2.25
       16356394                                                       780000                   20060201                        80     No MI                                                               2.25
       16356395                                                       195200                   20060301                        80     No MI                                                               2.25
       16356396                                                       233900                   20060301               79.98999786     No MI                                                               2.25
       16356397                                                       411950                   20060301                        80     No MI                                                               2.25
       16356398                                                      1500000                   20060801               65.22000122     No MI                                                               2.25
       16356399                                                       183300                   20060201               87.29000092     GE Capital MI                                                       2.25
       16356400                                                       179500                   20060201               79.98999786     No MI                                                               2.25
       16356401                                                       220000                   20060201                        80     No MI                                                               2.25
       16356402                                                      1209500                   20060201               75.58999634     No MI                                                               2.25
       16356403                                                       525000                   20060701               66.43000031     No MI                                                               2.25
       16356404                                                       326400                   20060201                        80     No MI                                                               2.25
       16356405                                                       245000                   20060201               71.01000214     No MI                                                               2.25
       16356406                                                       240000                   20060201                        80     No MI                                                               2.25
       16356407                                                       264000                   20060201                        80     No MI                                                               2.25
       16356408                                                       171850                   20060701                        95     Mortgage Guaranty In                                                2.25
       16356409                                                       532500                   20060201                        75     No MI                                                               2.25
       16356410                                                       650000                   20060301               76.45999908     No MI                                                               2.25
       16356411                                                       200000                   20060201               23.53000069     No MI                                                               2.25
       16356412                                                       193200                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356413                                                       248300                   20060301               79.98999786     No MI                                                               2.25
       16356414                                                       749000                   20060201               69.34999847     No MI                                                               2.25
       16356415                                                       127900                   20060201               79.98999786     No MI                                                               2.25
       16356416                                                       132350                   20060301               77.84999847     No MI                                                               2.25
       16356417                                                       214400                   20060201                        80     No MI                                                               2.25
       16356419                                                       330300                   20060201               60.61000061     No MI                                                               2.25
       16356420                                                       314200                   20060201               45.86999893     No MI                                                               2.25
       16356421                                                       183800                   20060201               79.79000092     No MI                                                               2.25
       16356422                                                       235750                   20060701               89.98000336     GE Capital MI                                                       2.25
       16356423                                                       127000                   20060201               79.97000122     No MI                                                               2.25
       16356424                                                       232500                   20060301                        75     No MI                                                               2.25
       16356425                                                       232000                   20060201                        80     No MI                                                               2.25
       16356426                                                       304000                   20060201                        80     No MI                                                               2.25
       16356427                                                       228000                   20060201                        80     No MI                                                               2.25
       16356428                                                       207600                   20060201               47.18000031     No MI                                                               2.25
       16356429                                                       572000                   20060201                        80     No MI                                                               2.25
       16356430                                                       340000                   20060201                        80     No MI                                                               2.25
       16356431                                                       499450                   20060201               73.66999817     No MI                                                               2.25
       16356432                                                       225000                   20060201               72.58000183     No MI                                                               2.25
       16356433                                                       461600                   20060201               78.91000366     No MI                                                               2.25
       16356434                                                       212000                   20060201                       100     GE Capital MI                                                       2.25
       16356435                                                       150450                   20060201               94.02999878     GE Capital MI                                                       2.25
       16356436                                                       211575                   20060301                        90     GE Capital MI                                                       2.25
       16356437                                                       290400                   20060201                        80     No MI                                                               2.25
       16356438                                                       683900                   20060301                        80     No MI                                                               2.25
       16356439                                                      1561500                   20060201               55.47000122     No MI                                                               2.25
       16356440                                                       155900                   20060201               79.98999786     No MI                                                               2.25
       16356441                                                       341200                   20060201               66.63999939     No MI                                                               2.25
       16356442                                                       617950                   20060201               66.80999756     No MI                                                               2.25
       16356443                                                       142200                   20060201                        80     No MI                                                               2.25
       16356444                                                       651000                   20060201               36.68000031     No MI                                                               2.25
       16356445                                                       509000                   20060201               71.19000244     No MI                                                               2.25
       16356446                                                       170600                   20060201               74.16999817     No MI                                                               2.25
       16356447                                                       268000                   20060201                        80     No MI                                                               2.25
       16356448                                                       148200                   20060201                        95     GE Capital MI                                                       2.25
       16356449                                                       161900                   20060201               89.98999786     GE Capital MI                                                       2.25
       16356450                                                       415000                   20060201               54.97000122     No MI                                                               2.25
       16356451                                                       272000                   20060201                        80     No MI                                                               2.25
       16356452                                                       221400                   20060201                        90     GE Capital MI                                                       2.25
       16356453                                                       498000                   20060301               76.02999878     No MI                                                               2.25
       16356454                                                       520000                   20060301               63.86000061     No MI                                                               2.25
       16356455                                                       288000                   20060201                        80     No MI                                                               2.25
       16356456                                                       244800                   20060201                        80     No MI                                                               2.25
       16356457                                                       672000                   20060201                        80     No MI                                                               2.25
       16356458                                                       346400                   20060201                        80     No MI                                                               2.25
       16356459                                                       481200                   20060201                        80     No MI                                                               2.25
       16356460                                                       296000                   20060201                        80     No MI                                                               2.25
       16356461                                                       430200                   20060201               72.30000305     No MI                                                               2.25
       16356462                                                       308000                   20060201                        80     No MI                                                               2.25
       16356463                                                       205000                   20060201               77.36000061     No MI                                                               2.25
       16356464                                                      1750000                   20060201                        70     No MI                                                               2.25
       16356465                                                       145600                   20060201                        80     No MI                                                               2.25
       16356466                                                      2003500                   20060201               55.65000153     No MI                                                               2.25
       16356467                                                       225000                   20060501                       100     GE Capital MI                                                       2.25
       16356468                                                       340200                   20060201                        90     GE Capital MI                                                       2.25
       16356469                                                       347900                   20060201                        80     No MI                                                               2.25
       16356470                                                       280000                   20060201                        80     No MI                                                               2.25
       16356471                                                       189850                   20060201               89.98999786     GE Capital MI                                                       2.25
       16356472                                                       193500                   20060201                        90     GE Capital MI                                                       2.25
       16356473                                                       128350                   20060301               79.98000336     No MI                                                               2.25
       16356327                                                       157900                   20060501               79.98999786     No MI                                                               2.25
       16356328                                                       151200                   20060301                        80     No MI                                                               2.25
       16356330                                                       600000                   20060101                        30     No MI                                                               2.25
       16356331                                                       295300                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356332                                                       326800                   20060101               79.51000214     No MI                                                               2.25
       16356333                                                       789750                   20060101                        75     No MI                                                               2.25
       16356334                                                       262400                   20060101                        80     No MI                                                               2.25
       16356335                                                       294300                   20060201                        90     GE Capital MI                                                       2.25
       16356336                                                       189000                   20060101                        90     Republic MIC                                                        2.25
       16356337                                                       272000                   20051201                        80     No MI                                                               2.25
       16356338                                                       172000                   20060101                        80     No MI                                                               2.25
       16356339                                                       156710                   20060101               78.36000061     No MI                                                               2.25
       16356340                                                       215100                   20060301               79.98999786     No MI                                                               2.25
       16356357                                                       778000                   20060301                        80     No MI                                                               2.25
       16356359                                                       275300                   20060501                        90     GE Capital MI                                                       2.25
       16356360                                                       288000                   20060301                        80     No MI                                                               2.25
       16356361                                                       199000                   20060101               57.02000046     No MI                                                               2.25
       16356362                                                       650000                   20060101               88.80000305     GE Capital MI                                                       2.25
       16356363                                                       216750                   20060301               79.98000336     No MI                                                               2.25
       16356364                                                       348000                   20060201                        80     No MI                                                               2.25
       16356365                                                       124000                   20060101                        80     No MI                                                               2.25
       16356366                                                       136000                   20060201                        80     No MI                                                               2.25
       16356367                                                       371200                   20060201               79.98999786     No MI                                                               2.25
       16356368                                                       350000                   20060101               58.74000168     No MI                                                               2.25
       16356369                                                       332500                   20060301                        95     GE Capital MI                                                       2.25
       16356371                                                       202000                   20060201                       100     GE Capital MI                                                       2.25
       16356372                                                       172700                   20060201               79.98999786     No MI                                                               2.25
       16356343                                                       223950                   20060101               79.98000336     No MI                                                               2.25
       16356344                                                       164000                   20060101                        80     No MI                                                               2.25
       16356345                                                       159900                   20060301               79.98999786     No MI                                                               2.25
       16356346                                                       235800                   20060501               99.97000122     GE Capital MI                                                       2.25
       16356347                                                       218000                   20060101               65.06999969     No MI                                                               2.25
       16356348                                                       394400                   20060101                        80     No MI                                                               2.25
       16356349                                                       297000                   20060101                        60     No MI                                                               2.25
       16356351                                                       140300                   20060101               79.98999786     No MI                                                               2.25
       16356352                                                       404900                   20060201                        90     GE Capital MI                                                       2.25
       16356353                                                       505600                   20060701                        80     No MI                                                               2.25
       16356354                                                       175000                   20060501                       100     GE Capital MI                                                       2.25
       16356355                                                       560000                   20060101               54.90000153     No MI                                                               2.25
       16356356                                                       213300                   20060101                        90     GE Capital MI                                                       2.25
       16356295                                                       169550                   20060201               89.98999786     GE Capital MI                                                       2.25
       16356296                                                       133550                   20060101               79.97000122     No MI                                                               2.25
       16356297                                                       114200                   20060701               89.98999786     GE Capital MI                                                       2.25
       16356298                                                       181500                   20060101               79.98999786     No MI                                                               2.25
       16356299                                                       512000                   20060101                        80     No MI                                                               2.25
       16356300                                                       518300                   20060301               76.79000092     No MI                                                               2.25
       16356301                                                       268000                   20051201                        80     No MI                                                               2.25
       16356302                                                       106950                   20060101               79.98999786     No MI                                                               2.25
       16356303                                                       128050                   20060701                        90     GE Capital MI                                                       2.25
       16356304                                                       610000                   20060801                       100     GE Capital MI                                                       2.25
       16356305                                                       417400                   20051201                     78.75     No MI                                                               2.25
       16356306                                                       854500                   20060101               60.81999969     No MI                                                               2.25
       16356307                                                       185600                   20060101               79.90000153     No MI                                                               2.25
       16356308                                                       143900                   20060201               79.98999786     No MI                                                               2.25
       16356309                                                       588000                   20060101                        80     No MI                                                               2.25
       16356310                                                       278800                   20060101                        80     No MI                                                               2.25
       16356311                                                       284000                   20060101                        80     No MI                                                               2.25
       16356312                                                       129550                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356313                                                       180200                   20060301               79.98000336     No MI                                                               2.25
       16356314                                                       118900                   20060301                       100     GE Capital MI                                                       2.25
       16356315                                                       151100                   20060101               79.98999786     No MI                                                               2.25
       16356317                                                       151100                   20060101               79.98999786     No MI                                                               2.25
       16356319                                                       218150                   20060301               79.98999786     No MI                                                               2.25
       16356320                                                       255250                   20060101               79.98999786     No MI                                                               2.25
       16356321                                                       136800                   20060101                        90     Republic MIC                                                        2.25
       16356322                                                      1750000                   20051201                        70     No MI                                                               2.25
       16356323                                                       374400                   20051201                        80     No MI                                                               2.25
       16356324                                                       215650                   20060101                        95     Mortgage Guaranty In                                                2.25
       16356325                                                       193200                   20060601               94.98999786     GE Capital MI                                                       2.25
       16356326                                                       104100                   20051201               74.08999634     No MI                                                               2.25
       16357495                                                        77300                   20060601               89.98999786     Mortgage Guaranty In                                                2.25
       16357496                                                       100000                   20060701                      62.5     No MI                                                               2.25
       16357497                                                       136900                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357498                                                       229000                   20060601                       100     GE Capital MI                                                       2.25
       16357445                                                       293500                   20060501                       100     GE Capital MI                                                       2.25
       16357446                                                       162000                   20060601                        80     No MI                                                               2.25
       16357447                                                       202000                   20060501                       100     GE Capital MI                                                       2.25
       16357448                                                       334800                   20060501               89.94000244     Mortgage Guaranty In                                                2.25
       16357449                                                       209900                   20060501                       100     GE Capital MI                                                       2.25
       16357450                                                      2088800                   20060601                        70     No MI                                                               2.25
       16357451                                                       360900                   20060601                       100     GE Capital MI                                                       2.25
       16357452                                                       840000                   20060601                        80     No MI                                                               2.25
       16357453                                                       728000                   20060501                        80     No MI                                                               2.25
       16357454                                                       108000                   20060501                       100     GE Capital MI                                                       2.25
       16357455                                                       184050                   20060501               88.48999786     GE Capital MI                                                       2.25
       16357456                                                       138650                   20060501               94.97000122     GE Capital MI                                                       2.25
       16357457                                                       392000                   20060501                       100     GE Capital MI                                                       2.25
       16357458                                                       107900                   20060501                       100     GE Capital MI                                                       2.25
       16357459                                                       365000                   20060801               67.61000061     No MI                                                               2.25
       16357460                                                       121000                   20060601                       100     GE Capital MI                                                       2.25
       16357461                                                       153200                   20060601               99.98000336     GE Capital MI                                                       2.25
       16357462                                                       158000                   20060601                       100     GE Capital MI                                                       2.25
       16357463                                                       307800                   20060601                        90     GE Capital MI                                                       2.25
       16357464                                                       257800                   20060601               99.98999786     GE Capital MI                                                       2.25
       16357465                                                       199750                   20060701               99.98999786     GE Capital MI                                                       2.25
       16357466                                                       224450                   20060601               89.98000336     GE Capital MI                                                       2.25
       16357467                                                       192000                   20060601                        80     No MI                                                               2.25
       16357468                                                       207350                   20060701               99.98000336     GE Capital MI                                                       2.25
       16357469                                                       207350                   20060501                       100     GE Capital MI                                                       2.25
       16357470                                                       111900                   20060601                       100     GE Capital MI                                                       2.25
       16357471                                                       410000                   20060501                       100     GE Capital MI                                                       2.25
       16357472                                                       155000                   20060601                       100     GE Capital MI                                                       2.25
       16357473                                                       183050                   20060501                        90     GE Capital MI                                                       2.25
       16357474                                                       116200                   20060601               93.70999908     GE Capital MI                                                       2.25
       16357475                                                       346750                   20060501                        95     GE Capital MI                                                       2.25
       16357476                                                       496000                   20060801                        80     No MI                                                               2.25
       16357477                                                       870000                   20060601               79.08999634     No MI                                                               2.25
       16357478                                                       219000                   20060701               99.58999634     GE Capital MI                                                       2.25
       16357479                                                       272000                   20060601                       100     GE Capital MI                                                       2.25
       16357480                                                       392000                   20060601                       100     GE Capital MI                                                       2.25
       16357481                                                       128000                   20060701                       100     Mortgage Guaranty In                                                2.25
       16357482                                                       156600                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357483                                                       243800                   20060601               99.98999786     Mortgage Guaranty In                                                2.25
       16357484                                                       216990                   20060701                       100     GE Capital MI                                                       2.25
       16357485                                                      1491300                   20060701                        75     No MI                                                               2.25
       16357486                                                       117950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16357487                                                       388000                   20060601                       100     Mortgage Guaranty In                                                2.25
       16357488                                                       155950                   20060601               99.97000122     GE Capital MI                                                       2.25
       16357489                                                       143200                   20060601               26.18000031     No MI                                                               2.25
       16357490                                                       174000                   20060601               97.52999878     GE Capital MI                                                       2.25
       16357491                                                       225700                   20060601               79.19000244     No MI                                                               2.25
       16357492                                                       184600                   20060601                       100     GE Capital MI                                                       2.25
       16357493                                                      1000000                   20060601               52.63000107     No MI                                                               2.25
       16357494                                                      1499950                   20060601               71.43000031     No MI                                                               2.25
       16357358                                                       215900                   20060801               79.98999786     No MI                                                               2.25
       16357359                                                       591950                   20060801                        80     No MI                                                               2.25
       16357360                                                       165400                   20060801               79.98000336     No MI                                                               2.25
       16357361                                                       145600                   20060801                        80     No MI                                                               2.25
       16357362                                                       528000                   20060801                        80     No MI                                                               2.25
       16357363                                                       650000                   20060201               72.22000122     No MI                                                               2.25
       16357364                                                      1385400                   20060701               46.18000031     No MI                                                               2.25
       16357365                                                       178950                   20060701               79.98999786     No MI                                                               2.25
       16357366                                                       111150                   20060201                        65     No MI                                                               2.25
       16357367                                                       184700                   20060101               79.98999786     No MI                                                               2.25
       16357368                                                       312000                   20060201                        80     No MI                                                               2.25
       16357369                                                      1340000                   20060501                        80     No MI                                                               2.25
       16357370                                                       340400                   20060601                        80     No MI                                                               2.25
       16357371                                                       520000                   20060301               78.52999878     No MI                                                               2.25
       16357372                                                       382000                   20060501               97.87999725     GE Capital MI                                                       2.25
       16357373                                                       608000                   20060301                        80     No MI                                                               2.25
       16357374                                                       594000                   20060101                        90     GE Capital MI                                                       2.25
       16357375                                                       375000                   20060101               76.52999878     No MI                                                               2.25
       16357376                                                       111000                   20060101               56.63000107     No MI                                                               2.25
       16357377                                                       255200                   20060101               76.18000031     No MI                                                               2.25
       16357378                                                       316400                   20060101                        70     No MI                                                               2.25
       16357379                                                       215400                   20060101               73.01999664     No MI                                                               2.25
       16357380                                                       245600                   20051201                        80     No MI                                                               2.25
       16357381                                                       583650                   20051201               68.26000214     No MI                                                               2.25
       16357382                                                       600000                   20060101                        80     No MI                                                               2.25
       16357383                                                       400000                   20060101                        80     No MI                                                               2.25
       16357384                                                       248000                   20060101               66.12999725     No MI                                                               2.25
       16357385                                                       720800                   20060101                        80     No MI                                                               2.25
       16357386                                                       520000                   20060301                        80     No MI                                                               2.25
       16357387                                                       850000                   20060501               64.66999817     No MI                                                               2.25
       16357388                                                      1000000                   20060501               76.40000153     No MI                                                               2.25
       16357389                                                       153800                   20060101               79.98000336     No MI                                                               2.25
       16357390                                                       212000                   20060101                        80     No MI                                                               2.25
       16357391                                                       180000                   20060101               89.98999786     Mortgage Guaranty In                                                2.25
       16357392                                                       172000                   20060101                        80     No MI                                                               2.25
       16357393                                                       527800                   20060101                       100     GE Capital MI                                                       2.25
       16357394                                                       143900                   20060101               79.98999786     No MI                                                               2.25
       16357395                                                        96800                   20060101                       100     GE Capital MI                                                       2.25
       16357396                                                       160000                   20060101                       100     GE Capital MI                                                       2.25
       16357397                                                       336000                   20060101                        80     No MI                                                               2.25
       16357398                                                       176900                   20060101               77.93000031     No MI                                                               2.25
       16357400                                                       171900                   20060501                     87.75     GE Capital MI                                                       2.25
       16357401                                                       280000                   20060301                        80     No MI                                                               2.25
       16357402                                                       134000                   20060101               66.01000214     No MI                                                               2.25
       16357403                                                       202900                   20060201               73.77999878     No MI                                                               2.25
       16357404                                                       322300                   20060601                        80     No MI                                                               2.25
       16357405                                                       150000                   20060301               37.97999954     No MI                                                               2.25
       16357406                                                       125000                   20060301               65.81999969     No MI                                                               2.25
       16357407                                                       520000                   20060201               69.33000183     No MI                                                               2.25
       16357408                                                       132350                   20060301               79.97000122     No MI                                                               2.25
       16357409                                                       612400                   20060701                        80     No MI                                                               2.25
       16357410                                                       128600                   20060201               89.98999786     Mortgage Guaranty In                                                2.25
       16357411                                                       433200                   20060201               64.18000031     No MI                                                               2.25
       16357412                                                       649500                   20060201               64.94999695     No MI                                                               2.25
       16357413                                                       562600                   20060201               79.98999786     No MI                                                               2.25
       16357414                                                       152000                   20060201                        80     No MI                                                               2.25
       16357415                                                       358400                   20060201                        80     No MI                                                               2.25
       16357416                                                      1176000                   20060301               67.19999695     No MI                                                               2.25
       16357417                                                       113600                   20060201                        80     No MI                                                               2.25
       16357418                                                       129600                   20060201                        80     No MI                                                               2.25
       16357419                                                       103900                   20060201               79.98000336     No MI                                                               2.25
       16357420                                                       520150                   20060201                        80     No MI                                                               2.25
       16357421                                                       292800                   20060301                        80     No MI                                                               2.25
       16357422                                                       163200                   20060201                        80     No MI                                                               2.25
       16357423                                                       103100                   20060301               79.98000336     No MI                                                               2.25
       16357424                                                       684000                   20060301                        80     No MI                                                               2.25
       16357425                                                       181600                   20060301               79.81999969     No MI                                                               2.25
       16357426                                                        99200                   20060301                        80     No MI                                                               2.25
       16357427                                                       196900                   20060501                       100     GE Capital MI                                                       2.25
       16357428                                                       157903                   20060501                       100     GE Capital MI                                                       2.25
       16357430                                                       206450                   20060601               99.98000336     Mortgage Guaranty In                                                2.25
       16357431                                                       259900                   20060701                       100     GE Capital MI                                                       2.25
       16357432                                                       143900                   20060601                       100     GE Capital MI                                                       2.25
       16357433                                                       331800                   20060601               99.98999786     GE Capital MI                                                       2.25
       16357434                                                       133950                   20060501               99.97000122     GE Capital MI                                                       2.25
       16357435                                                       197000                   20060501                       100     GE Capital MI                                                       2.25
       16357436                                                      1331250                   20060501                        75     No MI                                                               2.25
       16357437                                                       441000                   20060701               79.98999786     No MI                                                               2.25
       16357438                                                       360000                   20060501                        80     No MI                                                               2.25
       16357439                                                      1195500                   20060501                        75     No MI                                                               2.25
       16357440                                                       720000                   20060501                        80     No MI                                                               2.25
       16357441                                                       568800                   20060501               79.94999695     No MI                                                               2.25
       16357442                                                       373750                   20060501               97.08000183     GE Capital MI                                                       2.25
       16357443                                                       180000                   20060501                       100     GE Capital MI                                                       2.25
       16357444                                                       100000                   20060501                       100     GE Capital MI                                                       2.25
       16231295                                                      1000000                   20060601               30.29999924     No MI                                                               2.25
       16231296                                                       650000                   20060401               72.22000122     No MI                                                               2.25
       16231297                                                       627000                   20060401                        57     No MI                                                               2.25
       16231298                                                       503600                   20060401               79.94000244     No MI                                                               2.25
       16231299                                                       438000                   20060401                        80     No MI                                                               2.25
       16231300                                                       351000                   20060401               62.68000031     No MI                                                               2.25
       16231301                                                       626400                   20060501                        80     No MI                                                               2.25
       16231302                                                       620000                   20060501                        80     No MI                                                               2.25
       16231303                                                       250000                   20060501                        80     No MI                                                               2.25
       16231304                                                       487500                   20060601                        75     No MI                                                               2.25
       16231305                                                       615000                   20060601               39.68000031     No MI                                                               2.25
       16231306                                                       517500                   20060501                        75     No MI                                                               2.25
       16231307                                                       805000                   20060601                        70     No MI                                                               2.25
       16231308                                                       615000                   20060601               62.75999832     No MI                                                               2.25
       16231309                                                       600000                   20060601                        80     No MI                                                               2.25
       16231289                                                       314000                   20060601                        80     No MI                                                               2.25
       16231290                                                       504000                   20060601                        70     No MI                                                               2.25
       16231291                                                       570000                   20060401               69.51000214     No MI                                                               2.25
       16231292                                                       359000                   20060401               79.97000122     No MI                                                               2.25
       16231293                                                       725000                   20060401               63.61000061     No MI                                                               2.25
       16231294                                                       447000                   20060601               67.73000336     No MI                                                               2.25
       16231254                                                       341600                   20060501                        80     No MI                                                               2.25
       16231255                                                       183900                   20060501               79.98999786     No MI                                                               2.25
       16231256                                                       536000                   20060501                        80     No MI                                                               2.25
       16231257                                                       850000                   20060501               60.70999908     No MI                                                               2.25
       16231258                                                       340000                   20060601               79.44000244     No MI                                                               2.25
       16231259                                                       396000                   20060601               53.88000107     No MI                                                               2.25
       16231260                                                       250250                   20060601                        65     No MI                                                               2.25
       16231261                                                       599400                   20060501                        80     No MI                                                               2.25
       16231262                                                       259200                   20060501                        80     No MI                                                               2.25
       16231264                                                       240000                   20060601                        60     No MI                                                               2.25
       16231265                                                       167000                   20060401               69.58000183     No MI                                                               2.25
       16231266                                                       248000                   20060601                        80     No MI                                                               2.25
       16231267                                                       450000                   20060601               74.37999725     No MI                                                               2.25
       16231268                                                       952000                   20060401                        80     No MI                                                               2.25
       16231269                                                       319000                   20060401               78.19000244     No MI                                                               2.25
       16231270                                                       229500                   20060401               79.97000122     No MI                                                               2.25
       16231271                                                       200250                   20060501               79.98000336     No MI                                                               2.25
       16231272                                                       170900                   20060501               89.98999786     Radian Guaranty                                                     2.25
       16231273                                                       471000                   20060501               79.16000366     No MI                                                               2.25
       16231274                                                       282400                   20060501                        80     No MI                                                               2.25
       16231275                                                       544000                   20060601                        80     No MI                                                               2.25
       16231276                                                       572000                   20060601                        80     No MI                                                               2.25
       16231277                                                       160000                   20060401                        80     No MI                                                               2.25
       16231278                                                       558750                   20060401                        75     No MI                                                               2.25
       16231280                                                       188000                   20060601                        80     No MI                                                               2.25
       16231281                                                       417000                   20060401               78.37999725     No MI                                                               2.25
       16231282                                                       523000                   20060501               67.91999817     No MI                                                               2.25
       16231283                                                       525600                   20060601                        80     No MI                                                               2.25
       16231284                                                       650000                   20060501               70.80999756     No MI                                                               2.25
       16231285                                                       475000                   20060401               60.90000153     No MI                                                               2.25
       16231286                                                       556700                   20060501               79.98000336     No MI                                                               2.25
       16231287                                                       460000                   20060501                        80     No MI                                                               2.25
       16231288                                                       459500                   20060601               83.16999817     Radian Guaranty                                                     2.25
       16231228                                                       308800                   20060401                        80     No MI                                                               2.25
       16231229                                                       264000                   20060401                        80     No MI                                                               2.25
       16231230                                                       565000                   20060501               64.56999969     No MI                                                               2.25
       16231231                                                       537600                   20060601                        80     No MI                                                               2.25
       16231232                                                       422000                   20060601               78.15000153     No MI                                                               2.25
       16231233                                                       492000                   20060401                        80     No MI                                                               2.25
       16231234                                                       672000                   20060401                        80     No MI                                                               2.25
       16231235                                                       110000                   20060401               24.44000053     No MI                                                               2.25
       16231236                                                       456000                   20060501                        80     No MI                                                               2.25
       16231237                                                       516000                   20060501               63.70000076     No MI                                                               2.25
       16231238                                                       637450                   20060601                        75     No MI                                                               2.25
       16231239                                                       212000                   20060501                        80     No MI                                                               2.25
       16231240                                                       960000                   20060501                        80     No MI                                                               2.25
       16231241                                                       162000                   20060501               42.08000183     No MI                                                               2.25
       16231242                                                       188000                   20060401                        80     No MI                                                               2.25
       16231243                                                       128800                   20060501                        80     No MI                                                               2.25
       16231244                                                       200000                   20060501                        80     No MI                                                               2.25
       16231245                                                       430400                   20060601                        80     No MI                                                               2.25
       16231246                                                       500000                   20060701               73.52999878     No MI                                                               2.25
       16231247                                                       336000                   20060401                        64     No MI                                                               2.25
       16231248                                                       160000                   20060501               46.77999878     No MI                                                               2.25
       16231250                                                       749250                   20060501                        75     No MI                                                               2.25
       16231252                                                       440000                   20060501                     68.75     No MI                                                               2.25
       16231253                                                       359100                   20060501               79.98000336     No MI                                                               2.25
       16231217                                                       526000                   20060201               74.61000061     No MI                                                               2.25
       16231218                                                       472000                   20060501                        80     No MI                                                               2.25
       16231219                                                       510000                   20060601               38.72000122     No MI                                                               2.25
       16231220                                                       575000                   20060601               78.23000336     No MI                                                               2.25
       16231221                                                       670000                   20060401               54.68999863     No MI                                                               2.25
       16231222                                                       284950                   20060601               65.51000214     No MI                                                               2.25
       16231223                                                       424000                   20060501                        80     No MI                                                               2.25
       16231224                                                       620000                   20060601               79.48999786     No MI                                                               2.25
       16231225                                                       448000                   20060601               79.29000092     No MI                                                               2.25
       16231226                                                       218400                   20060501                        80     No MI                                                               2.25
       16231227                                                       650000                   20060601               77.37999725     No MI                                                               2.25
       16592923                                                       600000                   20060901               28.56999969     No MI                                  100000000000000000           2.25
       16592924                                                       752000                   20060901               70.94000244     No MI                                  100000000000000000           2.25
       16592925                                                       495000                   20060901                        50     No MI                                  100000000000000000           2.25
       16592926                                                       502500                   20060901                        75     No MI                                  100000000000000000           2.25
       16592927                                                      1694000                   20060901                        70     No MI                                  100000000000000000           2.25
       16592928                                                       520000                   20060901               77.04000092     No MI                                  100000000000000000           2.75
       16592929                                                       315000                   20060901               75.90000153     No MI                                  100000000000000000           2.25
       16592930                                                       504000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592931                                                       591000                   20061001               79.33000183     No MI                                  100000000000000000           2.25
       16592932                                                       700000                   20060901               71.79000092     No MI                                  100000000000000000           2.25
       16592933                                                       552000                   20060901               79.41999817     No MI                                  100000000000000000           2.25
       16592934                                                       739000                   20060901               64.26000214     No MI                                  100000000000000000           2.25
       16592882                                                       512000                   20060901               77.69000244     No MI                                  100000000000000000           2.25
       16592883                                                       690000                   20060901               72.62999725     No MI                                  100000000000000000           2.25
       16592884                                                       535200                   20060901                        80     No MI                                  100000000000000000           2.25
       16592885                                                       329600                   20060901                        80     No MI                                  100000000000000000           2.25
       16592886                                                       220000                   20060801                        80     No MI                                  100000000000000000           2.75
       16592887                                                       480000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592888                                                       460500                   20061001                        80     No MI                                  100000000000000000           2.25
       16592889                                                       564000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592890                                                       577600                   20060901                        80     No MI                                  100000000000000000           2.25
       16592891                                                       584000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592892                                                       299000                   20060901               72.93000031     No MI                                  100000000000000000           2.25
       16592893                                                       480000                   20060901               70.58999634     No MI                                  100000000000000000           2.25
       16592894                                                       440000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592895                                                       441000                   20060901                     78.75     No MI                                  100000000000000000           2.25
       16592896                                                       492000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592897                                                       637500                   20060901               45.54000092     No MI                                  100000000000000000           2.25
       16592898                                                       451000                   20060901               62.63999939     No MI                                  100000000000000000           2.25
       16592899                                                       314200                   20061001                        80     No MI                                  100000000000000000           2.25
       16592900                                                       604400                   20060901               79.98999786     No MI                                  100000000000000000           2.25
       16592901                                                       452000                   20060901               70.95999908     No MI                                  100000000000000000           2.25
       16592902                                                       260000                   20060901               79.51000214     No MI                                  100000000000000000           2.25
       16592903                                                       650000                   20060901               68.41999817     No MI                                  100000000000000000           2.25
       16592904                                                       493800                   20060901               75.97000122     No MI                                  100000000000000000           2.25
       16592905                                                       458400                   20060901                        80     No MI                                  100000000000000000           2.25
       16592906                                                       375000                   20060901               69.44000244     No MI                                  100000000000000000           2.25
       16592907                                                       555800                   20060901                        70     No MI                                  100000000000000000           2.25
       16592908                                                       152800                   20060901                        80     No MI                                  100000000000000000           2.25
       16592909                                                       479000                   20060901               79.83000183     No MI                                  100000000000000000           2.25
       16592910                                                       506400                   20060901                        80     No MI                                  100000000000000000           2.25
       16592911                                                       500000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592912                                                       862500                   20060901               74.68000031     No MI                                  100000000000000000           2.25
       16592913                                                       593600                   20061001                        80     No MI                                  100000000000000000           2.25
       16592914                                                       463600                   20061001               79.98999786     No MI                                  100000000000000000           2.25
       16592916                                                       430000                   20060901               69.91999817     No MI                                  100000000000000000           2.25
       16592917                                                       440000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592918                                                       171200                   20060901                        80     No MI                                  100000000000000000           2.25
       16592919                                                       576800                   20060901                        80     No MI                                  100000000000000000           2.25
       16592920                                                       529500                   20060901               69.66999817     No MI                                  100000000000000000           2.25
       16592921                                                       660000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592922                                                       576000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592935                                                       310000                   20060901               73.62999725     No MI                                  100000000000000000           2.25
       16592936                                                       466000                   20061001               78.31999969     No MI                                  100000000000000000           2.25
       16592937                                                       475400                   20061001                        80     No MI                                  100000000000000000           2.25
       16592938                                                       508000                   20060901                        80     No MI                                  100000000000000000           2.25
       16592939                                                       432000                   20061001                        80     No MI                                  100000000000000000           2.25
       16592940                                                       414000                   20060901               71.87999725     No MI                                  100000000000000000           2.25
       16592941                                                       404500                   20060901               79.41000366     No MI                                  100000000000000000           2.25
       16592942                                                       448000                   20060901               74.66999817     No MI                                  100000000000000000           2.25
       16592943                                                       288000                   20060901               78.90000153     No MI                                  100000000000000000           2.25
       16592944                                                       525000                   20060901                        70     No MI                                  100000000000000000           2.25
       16592945                                                       498500                   20060901               79.76000214     No MI                                  100000000000000000           2.25
       16592946                                                      1000000                   20060901               76.91999817     No MI                                  100000000000000000           2.25
       16592947                                                       945000                   20060901                        75     No MI                                  100000000000000000           2.25
       16592948                                                       510000                   20060901               44.93000031     No MI                                  100000000000000000           2.75
       16592949                                                       492000                   20060901               79.61000061     No MI                                  100000000000000000           2.25
       16592950                                                       212000                   20061001                        80     No MI                                  100000000000000000           2.25
       16592951                                                       318600                   20061001                        80     No MI                                  100000000000000000           2.25
       16232930                                                       880000                   20050401               82.23999786     No MI                                  100000000000000000          1.875
       16232931                                                       147920                   20050901                        80     No MI                                  100000000000000000          1.875
       16232933                                                       527000                   20060301               79.84999847     No MI                                  100000000000000000           2.25
       16232934                                                       499749                   20060501                        80     No MI                                  100000000000000000           2.25
       16232935                                                       500000                   20060501                        50     No MI                         10008-560002331080                    2.25
       16232936                                                       320000                   20060601               34.79000092     No MI                                  100000000000000000           2.25
       16232937                                                       948000                   20060601                        80     No MI                                  100000000000000000           2.25
       16242606                                                       650000                   20060401               79.76000214     No MI                                                               2.75
       16242617                                                       639200                   20060301                        80     No MI                                                               2.75
       16242618                                                       424995                   20060301                        80     No MI                                                               2.75
       16242620                                                       644800                   20060601                        80     No MI                                                               2.75
       16242621                                                       578000                   20060301               69.93000031     No MI                                                               2.75
       16242623                                                       633750                   20060301                        75     No MI                                                               2.75
       16242625                                                       713300                   20060301               68.26000214     No MI                                                               2.75
       16242626                                                       600000                   20060401               71.43000031     No MI                                  100000000000000000           2.75
       16242627                                                       538000                   20060401                        80     No MI                                                               2.75
       16242629                                                       455000                   20060601               64.54000092     No MI                                                               2.75
       16242630                                                       600000                   20060301               57.13999939     No MI                                                               2.75
       16242634                                                       682880                   20060301               65.04000092     No MI                                                               2.75
       16242635                                                       604000                   20060501                        80     No MI                                                               2.75
       16242636                                                       456000                   20060601                        80     No MI                                                               2.75
       16242637                                                       665000                   20060501               78.23999786     No MI                                  100000000000000000           2.75
       16242638                                                       828000                   20060401                        60     No MI                                                               2.75
       16242639                                                       540000                   20060301                        80     No MI                                                               2.75
       16242641                                                       575290                   20060401                        75     No MI                                                               2.75
       16242642                                                       620720                   20060501               51.72999954     No MI                                                               2.75
       16242643                                                       500000                   20060401                        80     No MI                                                               2.75
       16242644                                                       452000                   20060601                        80     No MI                                                               2.75
       16242645                                                       825000                   20060601                        75     No MI                                                               2.75
       16242646                                                       475000                   20060401               64.62999725     No MI                                                               2.75
       16242647                                                       712000                   20060401               50.86000061     No MI                                                               2.75
       16242648                                                       557624                   20060501                        80     No MI                                                               2.75
       16242649                                                       481832                   20060301                        80     No MI                                                               2.75
       16242650                                                       703800                   20060401               76.08999634     No MI                                                               2.75
       16242653                                                       419300                   20060501               40.31999969     No MI                                                               2.75
       16242545                                                       430000                   20060401               78.18000031     No MI                                                               2.75
       16242547                                                       534500                   20060401               53.45000076     No MI                                  100000000000000000           2.75
       16242548                                                       472000                   20060401                        80     No MI                                                               2.75
       16242549                                                       459900                   20060401                        80     No MI                                  100000000000000000           2.75
       16242550                                                       510000                   20060401               75.55999756     No MI                                                               2.75
       16242552                                                       444000                   20060501                        80     No MI                                                               2.75
       16242554                                                       644000                   20060601                        70     No MI                                  100000000000000000           2.75
       16242555                                                       649900                   20060601               72.20999908     No MI                                  100000000000000000           2.75
       16242556                                                       483750                   20060301                        75     No MI                                                               2.75
       16242557                                                       637500                   20060401                        75     No MI                                                               2.75
       16242558                                                       606400                   20060401                        80     No MI                                                               2.75
       16242559                                                       480441                   20060501                        80     No MI                                                               2.75
       16242560                                                       604000                   20060601                        80     No MI                                                               2.75
       16242561                                                       436800                   20060601               69.88999939     No MI                                                               2.75
       16242562                                                       540000                   20060601                        80     No MI                                                               2.75
       16242564                                                       472000                   20060201                        80     No MI                                                               2.75
       16242569                                                       680000                   20060401               57.63000107     No MI                                                               2.75
       16242570                                                       552000                   20060401                        80     No MI                                                               2.75
       16242571                                                       500000                   20060401               74.06999969     No MI                                                               2.75
       16242572                                                       648750                   20060501                        75     No MI                                                               2.75
       16242574                                                       499999                   20060501               65.79000092     No MI                                  100000000000000000           2.75
       16242575                                                       638000                   20060601                     79.75     No MI                                  100000000000000000           2.75
       16242576                                                       437000                   20060501               54.97000122     No MI                                                               2.75
       16242578                                                       475000                   20060501               72.84999847     No MI                                                               2.75
       16242579                                                       455000                   20060501               56.88000107     No MI                                                               2.75
       16242583                                                       649990                   20060501               73.36000061     No MI                                                               2.75
       16242584                                                       600000                   20060501                        80     No MI                                                               2.75
       16242585                                                      1000000                   20060301               69.59999847     No MI                                  100000000000000000           2.75
       16242586                                                       456000                   20060301                        80     No MI                                                               2.75
       16242587                                                       463000                   20060301               7.349999905     No MI                                                               2.75
       16242588                                                       671250                   20060601                        75     No MI                                                               2.75
       16242589                                                       531000                   20060401               72.73999786     No MI                                                               2.75
       16242590                                                       556841                   20060501                        80     No MI                                                               2.75
       16242591                                                       554000                   20060301               65.09999847     No MI                                                               2.75
       16242592                                                       580000                   20060301               71.16999817     No MI                                                               2.75
       16242593                                                       680000                   20060401                        80     No MI                                                               2.75
       16242595                                                       464000                   20060401               79.86000061     No MI                                  100000000000000000           2.75
       16242596                                                       548000                   20060601                        80     No MI                                  100000000000000000           2.75
       16242597                                                       511500                   20060301                        75     No MI                                                               2.75
       16242599                                                       556000                   20060401                        80     No MI                                                               2.75
       16242600                                                      1000000                   20060601               60.81999969     No MI                                  100000000000000000           2.75
       16242603                                                       756000                   20060601                        70     No MI                                                               2.75
       16242604                                                       513750                   20060601                        75     No MI                                                               2.75
       16242605                                                       650000                   20060501               78.88999939     No MI                                                               2.75
       16242607                                                       600000                   20060301               72.29000092     No MI                                                               2.75
       16242608                                                       832000                   20060301               71.91000366     No MI                                                               2.75
       16242609                                                       532000                   20060601                        70     No MI                                                               2.75
       16242610                                                       464000                   20060301                        80     No MI                                  100000000000000000           2.75
       16242613                                                       470000                   20060501               66.86000061     No MI                                                               2.75
       16242614                                                       476000                   20060301                        85     Mortgage Guaranty In                                                2.75
       16242616                                                       543200                   20060501                        80     No MI                                                               2.75
       16242540                                                       450000                   20060301                      62.5     No MI                                                               2.75
       16242541                                                       447000                   20060301               79.94000244     No MI                                                               2.75
       16242542                                                       575000                   20060301               62.36000061     No MI                                                               2.75
       16242543                                                       996500                   20060301               73.80999756     No MI                                  100000000000000000           2.75

       LOAN_SEQ                     NEXT_RATE_ADJ_DATE1          MAX_RATE          MIN_RATE     PER_RATE_CAP             LIEN                BALLOON          IO_FLAG             IO_PERIOD
       16244517                                20110201              10.5               2.5                        1     First Lien                           Y                         120
       16244519                                20110401             11.75             1.875                        2     First Lien                           Y                         120
       16244520                                20110301             11.75             1.875                        2     First Lien                           Y                         120
       16244521                                20110401             11.25             1.875                        2     First Lien                           Y                         120
       16244522                                20110301             11.75             1.875                        2     First Lien                           Y                         120
       16244525                                20110401            12.125             1.875                        1     First Lien                           Y                         120
       16244526                                20110401            11.375             1.875                        1     First Lien                           Y                         120
       16244527                                20110401                12             1.875                        2     First Lien                           Y                         120
       16244528                                20110401             11.75             1.875                        1     First Lien                           N                           0
       16244529                                20110401            12.125             2.875                        2     First Lien                           Y                         120
       16244530                                20110401            11.375             1.875                        1     First Lien                           N                           0
       16244531                                20110501                12             1.875                        1     First Lien                           N                           0
       16244532                                20110401                11             1.875                        2     First Lien                           Y                         120
       16244533                                20110401             11.75             1.875                        2     First Lien                           N                           0
       16244534                                20110401            11.875             1.875                        1     First Lien                           N                           0
       16244535                                20110401             9.875             1.875                        1     First Lien                           Y                         120
       16244536                                20110401            10.625             1.875                        2     First Lien                           Y                         120
       16244537                                20110401            10.875             1.875                        2     First Lien                           Y                          60
       16244538                                20110301            10.625             1.875                        1     First Lien                           N                           0
       16244540                                20110401                11             1.875                        2     First Lien                           N                           0
       16244541                                20110401            11.375             3.625                        2     First Lien                           Y                          60
       16244542                                20110501            13.375             3.625                        1     First Lien                           N                           0
       16244543                                20110401            13.375             1.875                        1     First Lien                           N                           0
       16244544                                20110501              11.5             1.875                        1     First Lien                           Y                         120
       16369989                                20160701            11.625             3.625                        2     First Lien                           Y                         120
       16369992                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369996                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16370000                                20160701            12.625                 2                        2     First Lien                           Y                         120
       16370011                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16370030                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16370032                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16370050                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16370060                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16370067                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16370070                                20160701                11                 2                        2     First Lien                           Y                         120
       16370075                                20160701            12.125                 2                        2     First Lien                           Y                         120
       16370086                                20160701             11.75                 2                        2     First Lien                           N                           0
       16370128                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16370161                                20160701                11                 2                        2     First Lien                           Y                         120
       16370166                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16370177                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16370183                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16370189                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16370190                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369912                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369921                                20160701                11                 2                        2     First Lien                           Y                         120
       16369923                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369960                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369967                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369969                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16369972                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369753                                20160701             11.25                 2                        2     First Lien                           N                           0
       16369781                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369788                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369797                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369801                                20160701              11.5                 2                        2     First Lien                           N                           0
       16369802                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369830                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369874                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369899                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369911                                20160701              11.5                 2                        2     First Lien                           N                           0
       16369733                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369544                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369549                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369551                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369561                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369570                                20160701             11.25                 2                        2     First Lien                           N                           0
       16369573                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369580                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16369585                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16369587                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369604                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369606                                20160701             11.25                 2                        2     First Lien                           N                           0
       16369609                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369616                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16369626                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369648                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369652                                20160601            11.875                 2                        2     First Lien                           Y                         120
       16369654                                20160701            12.375                 2                        2     First Lien                           Y                         120
       16369667                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16369674                                20160701            11.625                 2                        2     First Lien                           N                           0
       16369690                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16369691                                20160701              11.5                 2                        2     First Lien                           N                           0
       16369700                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369703                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369721                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16368713                                20160201             10.75                 2                        2     First Lien                           Y                         120
       16368715                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16368716                                20160601              11.5                 2                        2     First Lien                           Y                         120
       16368719                                20160701            10.875                 2                        2     First Lien                           N                           0
       16368720                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16368780                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16368778                                20160601            11.625                 2                        2     First Lien                           Y                         120
       16370215                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16370246                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16370251                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16370263                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16370286                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16370288                                20160701            11.625                 2                        2     First Lien                           N                           0
       16369520                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16369010                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369050                                20160601             11.75                 2                        2     First Lien                           Y                         120
       16369055                                20160701                12                 2                        2     First Lien                           Y                         120
       16369056                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369070                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369074                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369088                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369099                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369157                                20160601              11.5                 2                        2     First Lien                           Y                         120
       16369164                                20160701                12                 2                        2     First Lien                           Y                         120
       16369189                                20160701            11.625                 2                        2     First Lien                           N                           0
       16369209                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369217                                20160501              11.5                 2                        2     First Lien                           N                           0
       16369225                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369226                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369229                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369247                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369257                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369267                                20160701            12.125                 2                        2     First Lien                           Y                         120
       16369290                                20160701            10.875                 2                        2     First Lien                           Y                         120
       16369300                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369350                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369358                                20160701            11.625                 2                        2     First Lien                           N                           0
       16369360                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16369364                                20160701             10.75                 2                        2     First Lien                           Y                         120
       16369370                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16369391                                20160701              11.5                 2                        2     First Lien                           N                           0
       16369393                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16369408                                20160601            11.625                 2                        2     First Lien                           Y                         120
       16369409                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369423                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369436                                20160701             11.25                 2                        2     First Lien                           N                           0
       16369442                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16369447                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16369454                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16369455                                20160701            11.375                 2                        2     First Lien                           N                           0
       16369456                                20160701                11                 2                        2     First Lien                           Y                         120
       16369468                                20160701            11.125                 2                        2     First Lien                           N                           0
       16369470                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16369471                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369487                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16369490                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16369501                                20160701             11.75                 2                        2     First Lien                           N                           0
       16369512                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16368798                                20160601             11.75                 2                        2     First Lien                           Y                         120
       16368817                                20160601              11.5                 2                        2     First Lien                           Y                         120
       16368827                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16368829                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16368849                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16368861                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16368863                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16368866                                20160601            10.875                 2                        2     First Lien                           Y                         120
       16368870                                20160701            10.125                 2                        2     First Lien                           Y                         120
       16368874                                20160701            10.875                 2                        2     First Lien                           N                           0
       16368882                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16368888                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16368902                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16368910                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16368912                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16368917                                20160601            11.625                 2                        2     First Lien                           Y                         120
       16368930                                20160601             11.75                 2                        2     First Lien                           Y                         120
       16368960                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16368965                                20160601             11.75                 2                        2     First Lien                           Y                         120
       16368971                                20160601             11.75                 2                        2     First Lien                           Y                         120
       16368978                                20160601            11.875                 2                        2     First Lien                           Y                         120
       16368985                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16368995                                20160701             11.25                 2                        2     First Lien                           Y                         120
       16573265                                20090801              12.5                 2                        2     First Lien                           Y                         120
       16573266                                20090701            12.875                 2                        2     First Lien                           Y                          36
       16573267                                20090801                12                 2                        2     First Lien                           Y                          36
       16573269                                20090701              12.5                 2                        2     First Lien                           N                           0
       16573270                                20090801            12.875                 2                        2     First Lien                           Y                          36
       16573271                                20090801                12                 2                        2     First Lien                           N                           0
       16573272                                20090701              13.5               2.5                        2     First Lien                           Y                          36
       16573274                                20090801                12                 2                        2     First Lien                           Y                          36
       16573275                                20090801                13                 2                        2     First Lien                           N                           0
       16573276                                20090801            11.875                 2                        2     First Lien                           Y                          36
       16573277                                20090801            12.625                 2                        2     First Lien                           Y                          36
       16573278                                20090801            11.875                 2                        2     First Lien                           Y                          36
       16573279                                20090601              13.5                 2                        2     First Lien                           Y                          36
       16573280                                20090901            12.625                 2                        2     First Lien                           N                           0
       16573281                                20090701            11.625                 2                        2     First Lien                           Y                         120
       16573282                                20090801             13.75                 2                        2     First Lien                           Y                         120
       16573283                                20090801            11.875                 2                        2     First Lien                           Y                         120
       16573284                                20090901            12.375                 2                        2     First Lien                           N                           0
       16573285                                20090801             12.25                 2                        2     First Lien                           Y                         120
       16573286                                20090801            12.875                 2                        2     First Lien                           N                           0
       16573287                                20090901              12.5                 2                        2     First Lien                           N                           0
       16573288                                20090901             12.75                 2                        2     First Lien                           N                           0
       16573289                                20090701             10.75                 2                        2     First Lien                           N                           0
       16598123                                20090801            11.625                 2                        2     First Lien                           Y                          36
       16598124                                20090801             12.25                 2                        2     First Lien                           N                           0
       16598125                                20090801            12.875                 2                        2     First Lien                           Y                          36
       16598127                                20090801             12.25                 2                        2     First Lien                           N                           0
       16598128                                20090901             12.75                 2                        2     First Lien                           Y                         120
       16598129                                20090901            11.875                 2                        2     First Lien                           N                           0
       16573219                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16573220                                20130801              11.5                 2                        2     First Lien                           Y                          84
       16573221                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16573222                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16573223                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16573224                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16573225                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16573226                                20130601             11.75                 2                        2     First Lien                           Y                         120
       16573227                                20130901                11                 2                        2     First Lien                           Y                         120
       16573228                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16573229                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16573230                                20130901                11                 2                        2     First Lien                           Y                         120
       16573231                                20130901            11.875                 2                        2     First Lien                           N                           0
       16573232                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16573233                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16573234                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16573235                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16573236                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16573237                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16573238                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16573239                                20130901             11.25                 2                        2     First Lien                           N                           0
       16573240                                20130901            12.125                 2                        2     First Lien                           Y                         120
       16573241                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16573242                                20130901            11.625                 2                        2     First Lien                           N                           0
       16558646                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558647                                20130801            11.875                 2                        2     First Lien                           N                           0
       16558648                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16558649                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16558650                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558652                                20130801            11.875                 2                        2     First Lien                           N                           0
       16558653                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558598                                20130701             11.75                 2                        2     First Lien                           Y                          84
       16558599                                20130701                11                 2                        2     First Lien                           Y                         120
       16558600                                20130701                12                 2                        2     First Lien                           Y                         120
       16558601                                20130701             11.25                 2                        2     First Lien                           Y                          84
       16558602                                20130601             11.75                 2                        2     First Lien                           Y                          84
       16558603                                20130701              11.5                 2                        2     First Lien                           Y                         120
       16558604                                20130701             11.25                 2                        2     First Lien                           Y                         120
       16558605                                20130701                12                 2                        2     First Lien                           Y                          84
       16558606                                20130701              11.5                 2                        2     First Lien                           Y                          84
       16558607                                20130601              11.5                 2                        2     First Lien                           Y                          84
       16558608                                20130801            12.375                 2                        2     First Lien                           Y                          84
       16558609                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16558610                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16558611                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16558612                                20130701            11.375                 2                        2     First Lien                           Y                         120
       16558613                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16558614                                20130801              11.5                 2                        2     First Lien                           Y                          84
       16558615                                20130801            11.125                 2                        2     First Lien                           Y                          84
       16558616                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558617                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558618                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16558619                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558620                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558621                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16558622                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16558623                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16558624                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16558625                                20130801              11.5                 2                        2     First Lien                           Y                          84
       16558626                                20130801            11.375                 2                        2     First Lien                           N                           0
       16558627                                20130801              10.5                 2                        2     First Lien                           Y                         120
       16558628                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558629                                20130801            11.375                 2                        2     First Lien                           N                           0
       16558630                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16558631                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16558632                                20130801                12                 2                        2     First Lien                           N                           0
       16558633                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558634                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558635                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16558636                                20130801             11.25                 2                        2     First Lien                           Y                         120
       16558637                                20130801                12                 2                        2     First Lien                           Y                         120
       16558638                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558639                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16558640                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16558641                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558642                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16558643                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16558644                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16558645                                20130801            11.375                 2                        2     First Lien                           N                           0
       16593653                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593654                                20160901            12.125                 2                        2     First Lien                           Y                         120
       16593655                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593656                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593608                                20160901              11.5                 2                        2     First Lien                           Y                         120
       16593609                                20160201             11.25                 2                        2     First Lien                           Y                         120
       16593610                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16593611                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593613                                20160801             12.25                 2                        2     First Lien                           Y                         120
       16593614                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16593615                                20160801                11                 2                        2     First Lien                           Y                         120
       16593616                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16593618                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16593619                                20160901             11.75                 2                        2     First Lien                           N                           0
       16593620                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16593621                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16593622                                20160901            11.875               2.5                        2     First Lien                           Y                         120
       16593623                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593624                                20160901            12.125                 2                        2     First Lien                           Y                         120
       16593625                                20160801                12                 2                        2     First Lien                           Y                         120
       16593626                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16593628                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593629                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593630                                20160901                12                 2                        2     First Lien                           Y                         120
       16593631                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593632                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16593633                                20160901              11.5                 2                        2     First Lien                           Y                         120
       16593634                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16593635                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593636                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593637                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16593638                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16593639                                20160901            11.375                 2                        2     First Lien                           N                           0
       16593640                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16593641                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593642                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16593643                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16593644                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16593645                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16593646                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16593647                                20160901              11.5                 2                        2     First Lien                           Y                         120
       16593648                                20160901              11.5                 2                        2     First Lien                           Y                         120
       16593650                                20160901             11.25                 2                        2     First Lien                           N                           0
       16593651                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16593652                                20160901            12.125                 2                        2     First Lien                           Y                         120
       16573257                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16573258                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16573259                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16573260                                20160901            11.625                 2                        2     First Lien                           Y                         120
       16573261                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16573262                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16573263                                20160901            11.375                 2                        2     First Lien                           N                           0
       16573264                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16573243                                20160901              11.5                 2                        2     First Lien                           Y                         120
       16573244                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16573245                                20160801            10.875                 2                        2     First Lien                           N                           0
       16573246                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16573247                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16573248                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16573249                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16573250                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16573252                                20160901            11.875               2.5                        2     First Lien                           Y                         120
       16573253                                20160901            11.875                 2                        2     First Lien                           Y                         120
       16573254                                20160901            11.375                 2                        2     First Lien                           Y                         120
       16573255                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16573256                                20160901             11.75                 2                        2     First Lien                           Y                         120
       16564115                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564116                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564117                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564118                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564119                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564120                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564121                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564122                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564123                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564124                                20160801                12                 2                        2     First Lien                           Y                         120
       16564125                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564081                                20160801              11.5             2.145                        2     First Lien                           Y                         120
       16564082                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564083                                20160801                11                 2                        2     First Lien                           Y                         120
       16564084                                20160801            11.125                 2                        2     First Lien                           N                           0
       16564063                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564064                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16564065                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564066                                20160701             11.75                 2                        2     First Lien                           Y                         120
       16564067                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564068                                20160801                12                 2                        2     First Lien                           Y                         120
       16564069                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16564070                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564071                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564072                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564073                                20160801             11.25                 2                        2     First Lien                           Y                         120
       16564074                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564075                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564076                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16564078                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564079                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564080                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564039                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564040                                20160601            11.125                 2                        2     First Lien                           N                           0
       16564041                                20160601              11.5                 2                        2     First Lien                           Y                         120
       16564042                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564043                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16564044                                20160701                12                 2                        2     First Lien                           Y                         120
       16564045                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16564046                                20160801                11                 2                        2     First Lien                           Y                         120
       16564047                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564048                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564049                                20160801            11.875                 2                        2     First Lien                           N                           0
       16564050                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564051                                20160401            10.875                 2                        2     First Lien                           Y                         120
       16564052                                20160801             11.25                 2                        2     First Lien                           Y                         120
       16564053                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564054                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564055                                20160701            11.375                 2                        2     First Lien                           Y                         120
       16564056                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564057                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564058                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564059                                20160701              11.5                 2                        2     First Lien                           Y                         120
       16564060                                20160701            11.625                 2                        2     First Lien                           Y                         120
       16564061                                20160701            11.875                 2                        2     First Lien                           Y                         120
       16564062                                20160801             11.25                 2                        2     First Lien                           N                           0
       16564091                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564092                                20160801             11.25                 2                        2     First Lien                           Y                         120
       16564093                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564094                                20160801                12                 2                        2     First Lien                           Y                         120
       16564095                                20160801            11.375                 2                        2     First Lien                           Y                         120
       16564096                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564097                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564098                                20160801            11.375                 2                        2     First Lien                           N                           0
       16564099                                20160701            11.125                 2                        2     First Lien                           Y                         120
       16564100                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564101                                20160801             11.25                 2                        2     First Lien                           Y                         120
       16564102                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564103                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564104                                20160801             11.75                 2                        2     First Lien                           Y                         120
       16564105                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564106                                20160801                12                 2                        2     First Lien                           Y                         120
       16564107                                20160801            12.125                 2                        2     First Lien                           Y                         120
       16564108                                20160801            11.375                 2                        2     First Lien                           Y                         120
       16564110                                20160801            11.875                 2                        2     First Lien                           N                           0
       16564111                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564112                                20160801            11.875                 2                        2     First Lien                           Y                         120
       16564113                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564114                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16564085                                20160701            11.625                 2                        2     First Lien                           N                           0
       16564086                                20160801            11.375                 2                        2     First Lien                           Y                         120
       16564087                                20160801              11.5                 2                        2     First Lien                           N                           0
       16564088                                20160801            11.625                 2                        2     First Lien                           Y                         120
       16564089                                20160801              11.5                 2                        2     First Lien                           Y                         120
       16633710                                20110801            11.875                 2                        2     First Lien                           Y                         120
       16647980                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647982                                20111001                11                 2                        2     First Lien                           Y                         120
       16647983                                20111001                11                 2                        2     First Lien                           Y                         120
       16647984                                20111001            10.625                 2                        2     First Lien                           Y                         120
       16647985                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647986                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647987                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647988                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647989                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647990                                20111001            11.875                 2                        2     First Lien                           Y                         120
       16647917                                20111001                11                 2                        2     First Lien                           Y                         120
       16647918                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647919                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647920                                20111001            10.375              2.17                        2     First Lien                           Y                         120
       16647921                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16647922                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647923                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647924                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647925                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647926                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647927                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647928                                20111001                11                 2                        2     First Lien                           Y                         120
       16647929                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16647930                                20110901             11.75                 2                        2     First Lien                           N                           0
       16647931                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647932                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647933                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16647934                                20111001              10.5                 2                        2     First Lien                           Y                         120
       16647935                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647936                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647937                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647939                                20111001            10.625                 2                        2     First Lien                           Y                         120
       16647940                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647941                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647942                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647943                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647944                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647945                                20111001                12                 2                        2     First Lien                           Y                         120
       16647946                                20111001             10.25                 2                        2     First Lien                           Y                         120
       16647947                                20111001                11                 2                        2     First Lien                           Y                         120
       16647948                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647949                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647950                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647951                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647952                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647953                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16647954                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647955                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647956                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647957                                20111001             11.25                 2                        2     First Lien                           N                           0
       16647958                                20111001                11                 2                        2     First Lien                           Y                         120
       16647959                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647960                                20111001                11                 2                        2     First Lien                           Y                         120
       16647961                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647962                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647963                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647964                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16647965                                20111001            11.375                 2                        2     First Lien                           N                           0
       16647966                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647967                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647968                                20111001            11.375                 2                        2     First Lien                           N                           0
       16647969                                20111001             10.25                 2                        2     First Lien                           Y                         120
       16647970                                20111001            10.625                 2                        2     First Lien                           Y                         120
       16647971                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647972                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647973                                20111001              10.5                 2                        2     First Lien                           Y                         120
       16647974                                20111001             9.875                 2                        2     First Lien                           Y                         120
       16647975                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647976                                20111001            10.375             2.135                        2     First Lien                           Y                         120
       16647977                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647978                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647979                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647900                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647901                                20110901                11                 2                        2     First Lien                           Y                         120
       16647902                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647903                                20111001            11.875                 2                        2     First Lien                           Y                         120
       16647904                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647905                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647906                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647907                                20111001            11.875                 2                        2     First Lien                           Y                         120
       16647908                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647909                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16647910                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647911                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647912                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647913                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16647914                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647915                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647916                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16633750                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16633913                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633751                                20110901              11.5                 2                        2     First Lien                           N                           0
       16633914                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633752                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16633753                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16633915                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16633916                                20110901              10.5                 2                        2     First Lien                           Y                         120
       16633754                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16633917                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633755                                20110901              11.5                 2                        2     First Lien                           Y                          60
       16633918                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633756                                20110901            11.125                 2                        2     First Lien                           Y                          60
       16633919                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633757                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16633758                                20110801              11.5                 2                        2     First Lien                           Y                         120
       16633759                                20110901            11.375                 2                        2     First Lien                           Y                          60
       16633920                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633921                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16633760                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16633922                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633761                                20110901              11.5                 2                        2     First Lien                           Y                          60
       16633923                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633762                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16633924                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633763                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16633925                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633764                                20110901            11.375                 2                        2     First Lien                           N                           0
       16633926                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633765                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16633927                                20110901                11                 2                        2     First Lien                           N                           0
       16633766                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16633928                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633929                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633768                                20110601             11.25                 2                        2     First Lien                           N                           0
       16633769                                20110901              11.5                 2                        2     First Lien                           Y                          60
       16633930                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633931                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633932                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633770                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633771                                20110801              11.5                 2                        1     First Lien                           Y                         120
       16633933                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16633934                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633772                                20110901              11.5                 2                        2     First Lien                           Y                          60
       16633773                                20110901              8.99                 2                        2     First Lien                           Y                          60
       16633935                                20111001             12.25                 2                        2     First Lien                           Y                         120
       16633774                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16633936                                20111001             10.25                 2                        2     First Lien                           Y                         120
       16633937                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16633938                                20110901            10.625                 2                        2     First Lien                           Y                         120
       16633776                                20110801             12.25                 2                        2     First Lien                           Y                          60
       16633939                                20110901             10.75                 2                        2     First Lien                           Y                         120
       16633777                                20110801            11.625                 2                        2     First Lien                           Y                          60
       16633778                                20110901              10.5                 2                        2     First Lien                           Y                          60
       16633940                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633941                                20110901                11                 2                        2     First Lien                           Y                         120
       16633780                                20110901              8.99                 2                        2     First Lien                           Y                          60
       16633943                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633781                                20110901              8.99                 2                        2     First Lien                           Y                          60
       16633782                                20110901              8.99                 2                        2     First Lien                           Y                          60
       16633944                                20111001                11                 2                        2     First Lien                           Y                         120
       16633945                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16633783                                20111001            10.875                 2                        2     First Lien                           N                           0
       16633784                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633946                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16633947                                20110901            11.375                 2                        2     First Lien                           N                           0
       16633785                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16633786                                20110601            11.875                 2                        2     First Lien                           Y                          60
       16633948                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16633787                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633949                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16633788                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633789                                20110901            10.625                 2                        2     First Lien                           Y                         120
       16633790                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633791                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633792                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633793                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633794                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633795                                20111001            10.625                 2                        2     First Lien                           Y                         120
       16633796                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633797                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633798                                20110901                12                 2                        2     First Lien                           N                           0
       16633799                                20110901            11.375                 2                        2     First Lien                           N                           0
       16633709                                20110701             11.25                 2                        2     First Lien                           N                           0
       16633712                                20110701            11.375                 2                        2     First Lien                           Y                          60
       16633713                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633714                                20110801              11.5                 2                        2     First Lien                           Y                         120
       16633715                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633716                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16633717                                20110701              11.5                 2                        2     First Lien                           Y                          60
       16633718                                20110801             11.25                 2                        2     First Lien                           N                           0
       16633719                                20110801              10.5                 2                        2     First Lien                           Y                          60
       16633720                                20110801             10.75                 2                        2     First Lien                           Y                         120
       16633721                                20110901                11                 2                        2     First Lien                           Y                          60
       16633722                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633723                                20110801            11.875                 2                        2     First Lien                           Y                         120
       16633724                                20110701              11.5                 2                        2     First Lien                           Y                          60
       16633725                                20110801              11.5                 2                        2     First Lien                           Y                          60
       16633726                                20110801            10.625                 2                        2     First Lien                           Y                          60
       16647891                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647892                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647893                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647895                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16647896                                20111001            11.625                 2                        2     First Lien                           N                           0
       16647897                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16647898                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647899                                20111001            11.625              2.13                        2     First Lien                           N                           0
       16647835                                20111001                11                 2                        2     First Lien                           Y                         120
       16647836                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16647837                                20110601              11.5                 2                        2     First Lien                           Y                          60
       16647838                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647839                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647840                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16647841                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16647844                                20110901            11.375                 2                        2     First Lien                           Y                          60
       16647846                                20110901            12.125                 2                        2     First Lien                           Y                          60
       16647848                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16647849                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16647850                                20110901            11.125                 2                        2     First Lien                           Y                          60
       16647851                                20110701              11.5                 2                        2     First Lien                           Y                         120
       16647852                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16647853                                20110901             11.25                 2                        2     First Lien                           N                           0
       16647854                                20110901             12.25                 2                        2     First Lien                           Y                          60
       16647855                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16647856                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16647857                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16647858                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16647859                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16647860                                20110901            11.375                 2                        2     First Lien                           Y                          60
       16647861                                20110901              11.5                 2                        2     First Lien                           Y                          60
       16647862                                20110901            11.125                 2                        2     First Lien                           Y                          60
       16647864                                20110901            11.375                 2                        2     First Lien                           Y                          60
       16647865                                20110901            11.375                 2                        2     First Lien                           Y                          60
       16647866                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16647867                                20110901            11.875                 2                        2     First Lien                           Y                          60
       16647868                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16647869                                20110901             11.75                 2                        2     First Lien                           N                           0
       16647870                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16647871                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16647873                                20111001            11.125                 2                        2     First Lien                           Y                          60
       16647874                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16647875                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16647876                                20110901             11.25                 2                        2     First Lien                           Y                          60
       16647877                                20110801              11.5                 2                        2     First Lien                           Y                         120
       16647878                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647880                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16647881                                20111001            11.875                 2                        2     First Lien                           Y                         120
       16647882                                20110701            11.125                 2                        2     First Lien                           Y                         120
       16647883                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16647884                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16647885                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16647886                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16647887                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647888                                20110901                11                 2                        2     First Lien                           N                           0
       16647889                                20110701            11.375                 2                        2     First Lien                           Y                          60
       16647890                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16633881                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633882                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633883                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633884                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633885                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633886                                20110901            10.375                 2                        2     First Lien                           Y                         120
       16633887                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633888                                20110901             12.25                 2                        2     First Lien                           Y                         120
       16633889                                20110901            10.625             2.135                        2     First Lien                           Y                         120
       16633890                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633891                                20110901             11.75                 2                        2     First Lien                           N                           0
       16633892                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633893                                20110901            11.125                 2                        2     First Lien                           N                           0
       16633894                                20110901                12                 2                        2     First Lien                           Y                         120
       16633895                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633896                                20110901            10.125                 2                        2     First Lien                           Y                         120
       16633897                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633898                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633899                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633900                                20110901             10.75                 2                        2     First Lien                           Y                         120
       16633901                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633740                                20110901             11.75                 2                        2     First Lien                           Y                          60
       16633902                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633741                                20110801             11.75                 2                        2     First Lien                           Y                          60
       16633903                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16633904                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633742                                20110801            11.375                 2                        2     First Lien                           Y                          60
       16633905                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633743                                20110701            12.375                 2                        2     First Lien                           Y                         120
       16633744                                20110901            12.375                 2                        2     First Lien                           Y                         120
       16633906                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16633907                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633745                                20110801             10.25                 2                        2     First Lien                           Y                         120
       16633908                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633746                                20110801              11.5                 2                        2     First Lien                           Y                          60
       16633909                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633747                                20110801              10.5                 2                        2     First Lien                           Y                          60
       16633748                                20110901             12.25                 2                        2     First Lien                           Y                          60
       16633749                                20110801            11.875                 2                        2     First Lien                           Y                          60
       16648000                                20111001            11.125                 2                        2     First Lien                           N                           0
       16648002                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16648003                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16633910                                20110901                12                 2                        2     First Lien                           Y                         120
       16633911                                20111001                11                 2                        2     First Lien                           Y                         120
       16633912                                20110901                11                 2                        2     First Lien                           Y                         120
       16633850                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633851                                20110901                11                 2                        2     First Lien                           Y                         120
       16633852                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633853                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633854                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633855                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633856                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633857                                20110901             10.75                 2                        2     First Lien                           Y                         120
       16633858                                20110901                12                 2                        2     First Lien                           Y                         120
       16633859                                20110901            11.625             2.235                        2     First Lien                           Y                         120
       16633860                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633861                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16633862                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16633863                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633864                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633865                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633866                                20110901            10.375                 2                        2     First Lien                           Y                         120
       16633867                                20110901             10.75                 2                        2     First Lien                           Y                         120
       16633868                                20110901            12.125                 2                        2     First Lien                           Y                         120
       16633869                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633870                                20110901            11.375                 2                        2     First Lien                           N                           0
       16633871                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633872                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633873                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16633874                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633875                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633876                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633877                                20110901             10.75                 2                        2     First Lien                           Y                         120
       16633878                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633879                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633880                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633711                                20110901            17.375                 2                        2     First Lien                           Y                         120
       16633831                                20111001              11.5              0.75                        2     First Lien                           Y                         120
       16633727                                20110801            11.375                 2                        2     First Lien                           Y                          60
       16633728                                20110801            11.625                 2                        2     First Lien                           N                           0
       16633729                                20110801            11.875                 2                        2     First Lien                           Y                         120
       16633730                                20110801            11.125                 2                        2     First Lien                           Y                          60
       16633731                                20110801             11.75                 2                        2     First Lien                           Y                          60
       16633732                                20110801             10.75                 2                        2     First Lien                           Y                          60
       16633733                                20110901            11.625                 2                        2     First Lien                           Y                          60
       16633734                                20110901            10.875                 2                        2     First Lien                           Y                          60
       16633735                                20110801             11.75                 2                        2     First Lien                           N                           0
       16633736                                20110901             12.25                 2                        2     First Lien                           Y                          60
       16633737                                20110701            11.625                 2                        2     First Lien                           Y                          60
       16633738                                20110801            11.125                 2                        2     First Lien                           N                           0
       16633739                                20110901             12.25                 2                        2     First Lien                           N                           0
       16633843                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633844                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633845                                20110901                11                 2                        2     First Lien                           Y                         120
       16633846                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633847                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633848                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633849                                20110901                11                 2                        2     First Lien                           Y                         120
       16633838                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633839                                20110901              12.5                 2                        2     First Lien                           Y                         120
       16633840                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633841                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633842                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633821                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633822                                20110901            11.875             2.275                        2     First Lien                           Y                         120
       16633823                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633824                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633825                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633826                                20110901                11                 2                        2     First Lien                           N                           0
       16633827                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633828                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633829                                20110901                12                 2                        2     First Lien                           N                           0
       16633830                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633832                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633833                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633834                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633835                                20110901            11.875                 2                        2     First Lien                           N                           0
       16633836                                20110901            11.125                 2                        2     First Lien                           Y                         120
       16633837                                20110901            10.875                 2                        2     First Lien                           N                           0
       16633817                                20110901            11.875                 2                        2     First Lien                           Y                         120
       16633818                                20110901                10                 2                        2     First Lien                           Y                         120
       16633819                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633820                                20110901                11                 2                        2     First Lien                           Y                         120
       16633815                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633816                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633814                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16633804                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633805                                20110901            11.875                 2                        2     First Lien                           N                           0
       16633806                                20110901             11.25                 2                        2     First Lien                           N                           0
       16633807                                20110901            10.875                 2                        2     First Lien                           Y                         120
       16633808                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633809                                20110901            11.625                 2                        2     First Lien                           Y                         120
       16633810                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633811                                20110901             11.25                 2                        2     First Lien                           Y                         120
       16633812                                20110901                12                 2                        2     First Lien                           Y                         120
       16633813                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633800                                20110901            11.375                 2                        2     First Lien                           Y                         120
       16633801                                20110901              11.5                 2                        2     First Lien                           Y                         120
       16633802                                20110901             11.75                 2                        2     First Lien                           Y                         120
       16633803                                20110901              10.5                 2                        2     First Lien                           Y                         120
       16647991                                20111001                11                 2                        2     First Lien                           N                           0
       16647992                                20111001             10.75                 2                        2     First Lien                           Y                         120
       16647993                                20111001             11.25                 2                        2     First Lien                           Y                         120
       16647994                                20111001            10.875                 2                        2     First Lien                           Y                         120
       16647995                                20111001            11.375                 2                        2     First Lien                           Y                         120
       16647996                                20111001              11.5                 2                        2     First Lien                           Y                         120
       16647997                                20111001            11.625                 2                        2     First Lien                           Y                         120
       16647998                                20111001             11.75                 2                        2     First Lien                           Y                         120
       16647999                                20111001            11.125                 2                        2     First Lien                           Y                         120
       16634866                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16634871                                20130901             16.25                 2                        2     First Lien                           Y                         120
       16635203                                20130901            11.375                 2                        2     First Lien                           N                           0
       16635204                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635042                                20130901            10.125                 2                        2     First Lien                           Y                         120
       16635205                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635044                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635208                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635048                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635049                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635210                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635211                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635050                                20130801             11.25                 2                        2     First Lien                           Y                         120
       16635213                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635052                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635215                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16635216                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635218                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635056                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635057                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635059                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635001                                20130901                12                 2                        2     First Lien                           Y                         120
       16635002                                20130901            11.625                 2                        2     First Lien                           Y                          84
       16635005                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16635006                                20130901              11.5                 2                        2     First Lien                           Y                          84
       16635007                                20130801            11.375                 2                        1     First Lien                           Y                         120
       16635009                                20130801            11.625                 2                        2     First Lien                           N                           0
       16635010                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16635012                                20130901            11.375                 2                        2     First Lien                           Y                          84
       16635014                                20130901            11.875                 2                        2     First Lien                           Y                          84
       16635020                                20130701             10.99                 2                        2     First Lien                           N                           0
       16635024                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635025                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635026                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635027                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635028                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16635029                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635030                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635031                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16635033                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635038                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635039                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635200                                20130901                11                 2                        2     First Lien                           Y                         120
       16635201                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635202                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635040                                20130901            10.875                 2                        2     First Lien                           Y                         120
       16167018                                20130201            13.125                 2                        2     First Lien                           Y                         120
       16634855                                20130801            10.625                 2                        2     First Lien                           N                           0
       16634856                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16634859                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16634860                                20130901             10.75                 2                        2     First Lien                           Y                         120
       16634861                                20130901              9.75                 2                        2     First Lien                           Y                         120
       16634863                                20130701                12                 2                        2     First Lien                           Y                          84
       16634865                                20130701            10.875                 2                        2     First Lien                           N                           0
       16634868                                20130701            10.875                 2                        2     First Lien                           N                           0
       16634869                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16634870                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16634872                                20130401            12.625                 2                        2     First Lien                           Y                         120
       16634873                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16634874                                20130401            12.375                 2                        2     First Lien                           N                           0
       16634877                                20130401             12.25                 2                        2     First Lien                           Y                         120
       16634880                                20130501            12.375                 2                        2     First Lien                           Y                         120
       16634883                                20130601            12.375                 2                        2     First Lien                           Y                         120
       16634884                                20130701            12.125                 2                        2     First Lien                           Y                         120
       16634886                                20130701             11.75                 2                        2     First Lien                           N                           0
       16634888                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16634890                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16634893                                20130901             11.75                 2                        2     First Lien                           N                           0
       16634895                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635159                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635162                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635163                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635165                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635167                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635168                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635169                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635170                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635171                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635174                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635175                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635176                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635178                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635184                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635143                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635306                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635145                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635146                                20130901            11.625                 2                        2     First Lien                           N                           0
       16635147                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635149                                20130901              12.5                 2                        2     First Lien                           Y                         120
       16635313                                20130901             10.75                 2                        2     First Lien                           Y                         120
       16635151                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635153                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635138                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635139                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635140                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635141                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635120                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635121                                20130901                11                 2                        2     First Lien                           Y                         120
       16635123                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635124                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635126                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16635128                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635129                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635132                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635133                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635135                                20130901                12                 2                        2     First Lien                           Y                         120
       16635102                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16635103                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635105                                20130901                12                 2                        2     First Lien                           Y                         120
       16635106                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635107                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635110                                20130901             11.25                 2                        2     First Lien                           N                           0
       16635112                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635113                                20131001                11                 2                        2     First Lien                           Y                         120
       16635114                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635116                                20130901                12                 2                        2     First Lien                           Y                         120
       16635118                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635119                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16634998                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16634986                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16634987                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16634990                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16634994                                20130901            11.125                 2                        2     First Lien                           Y                          84
       16634995                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16634996                                20130901             11.75              1.75                        2     First Lien                           Y                          84
       16634975                                20130901              11.5                 2                        2     First Lien                           N                           0
       16634977                                20130901            11.625                 2                        2     First Lien                           Y                          84
       16634979                                20130901              11.5                 2                        2     First Lien                           Y                          84
       16634980                                20130901            11.625                 2                        2     First Lien                           N                           0
       16634981                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16634951                                20130701              11.5                 2                        2     First Lien                           Y                         120
       16634956                                20130901             11.25                 2                        2     First Lien                           Y                          84
       16634960                                20130801            13.375                 2                        2     First Lien                           Y                         120
       16634963                                20130801            12.125                 2                        2     First Lien                           N                           0
       16634964                                20130701              12.5                 2                        2     First Lien                           Y                         120
       16634965                                20130801            11.125                 2                        2     First Lien                           Y                         120
       16634968                                20130901              11.5                 2                        2     First Lien                           Y                          84
       16634970                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16634971                                20130801                12                 2                        2     First Lien                           Y                          84
       16634935                                20130901            11.375                 2                        2     First Lien                           Y                          84
       16634939                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16634940                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16634942                                20130801             12.75                 2                        2     First Lien                           N                           0
       16634944                                20130701            11.625                 2                        2     First Lien                           Y                          84
       16634946                                20130801             12.75                 2                        2     First Lien                           Y                         120
       16634948                                20130401             10.75                 2                        2     First Lien                           Y                         120
       16634949                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16634950                                20130801            11.625                 2                        2     First Lien                           Y                          84
       16634904                                20130601            11.375                 2                        2     First Lien                           Y                          84
       16634906                                20130901                11                 2                        2     First Lien                           Y                          84
       16634914                                20130801             10.75              2.25                        2     First Lien                           N                           0
       16634917                                20130801              11.5                 2                        2     First Lien                           Y                          84
       16634919                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16634921                                20130701            12.625                 2                        2     First Lien                           Y                         120
       16634922                                20130801             11.75                 2                        2     First Lien                           Y                         120
       16634926                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16634929                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16634930                                20130801            12.875                 2                        2     First Lien                           Y                         120
       16634932                                20130701            12.125                 2                        2     First Lien                           Y                          84
       16635185                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635186                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635188                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635191                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635192                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635193                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635194                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16634900                                20130901            11.375                 2                        2     First Lien                           N                           0
       16634901                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635292                                20130901             10.75                 2                        2     First Lien                           Y                         120
       16635293                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635278                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635271                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635262                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635263                                20130901                11                 2                        2     First Lien                           Y                         120
       16635267                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16635268                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635094                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635095                                20130901              11.5                 2                        2     First Lien                           N                           0
       16635258                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635259                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635097                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635098                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635260                                20130901            10.375                 2                        2     First Lien                           Y                         120
       16635071                                20130901            11.625                 2                        2     First Lien                           N                           0
       16635234                                20130901                11                 2                        2     First Lien                           Y                         120
       16635072                                20130901                11                 2                        2     First Lien                           Y                         120
       16635073                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16635236                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635074                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635237                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635238                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635076                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635239                                20130901            10.625                 2                        2     First Lien                           Y                         120
       16635078                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635079                                20130901            11.625                 2                        2     First Lien                           N                           0
       16635240                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635242                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635243                                20130901            11.375                 2                        2     First Lien                           N                           0
       16635083                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635085                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635248                                20130901            11.125                 2                        2     First Lien                           N                           0
       16635086                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16635087                                20130901                11                 2                        2     First Lien                           Y                         120
       16635088                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635089                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635250                                20130901              11.5                 2                        2     First Lien                           N                           0
       16635252                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635253                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635254                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635093                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16635231                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635232                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16635220                                20130901                11                 2                        2     First Lien                           Y                         120
       16635222                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635060                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635224                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635062                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16635063                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635226                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16635227                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16635228                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16635229                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635067                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16635068                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639196                                20130901            11.125                 2                        2     First Lien                           Y                          84
       16639197                                20130901            11.125                 2                        2     First Lien                           Y                          84
       16639198                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639199                                20130801              11.5                 2                        2     First Lien                           Y                         120
       16639190                                20130801                12                 2                        2     First Lien                           Y                         120
       16639191                                20130901            11.625                 2                        2     First Lien                           Y                          84
       16639192                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16639193                                20130801            11.625                 2                        2     First Lien                           Y                         120
       16639194                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16639195                                20130901                12                 2                        2     First Lien                           Y                          84
       16639309                                20130901            11.375                 2                        2     First Lien                           N                           0
       16639311                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639312                                20130901                11                 2                        2     First Lien                           Y                         120
       16639313                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639314                                20130901             10.75                 2                        2     First Lien                           Y                         120
       16639315                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16639316                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639317                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639318                                20130901                11                 2                        2     First Lien                           N                           0
       16639319                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639320                                20130901                12                 2                        2     First Lien                           N                           0
       16639321                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639322                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639323                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639324                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639325                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639326                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639327                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639328                                20130801            11.625                 2                        2     First Lien                           N                           0
       16639329                                20130801                11               2.5                        2     First Lien                           Y                          84
       16639330                                20130601              11.5                 2                        2     First Lien                           N                           0
       16639331                                20130601            12.125                 2                        2     First Lien                           Y                         120
       16639178                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16639179                                20130701             12.75                 2                        2     First Lien                           Y                         120
       16639180                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16639181                                20130801            11.375                 2                        2     First Lien                           Y                          84
       16639182                                20130801            11.625                 2                        2     First Lien                           Y                          84
       16639183                                20130901             11.75                 2                        2     First Lien                           Y                          84
       16639184                                20130901            12.125                 2                        2     First Lien                           N                           0
       16639185                                20130801            12.875                 2                        2     First Lien                           Y                         120
       16639186                                20130801            11.875                 2                        2     First Lien                           Y                          84
       16639187                                20130801            11.125                 2                        2     First Lien                           Y                         120
       16639188                                20130801             10.75                 2                        2     First Lien                           Y                          84
       16639189                                20130901            11.375                 2                        2     First Lien                           Y                          84
       16639300                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639301                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639302                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639303                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639304                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639305                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639307                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639308                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639294                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639295                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16639296                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639297                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639298                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639299                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639290                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639291                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639292                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639293                                20130901            11.125                 2                        2     First Lien                           N                           0
       16639278                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639279                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639280                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639281                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639282                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639283                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639284                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639285                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639286                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16639287                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16639288                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639289                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639268                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639269                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639270                                20130901                12                 2                        2     First Lien                           Y                         120
       16639271                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639272                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639273                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639274                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639275                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639276                                20130901            11.625                 2                        2     First Lien                           N                           0
       16639277                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639244                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639245                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639246                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639247                                20130901            11.375                 2                        2     First Lien                           N                           0
       16639248                                20130901            11.375                 2                        2     First Lien                           N                           0
       16639249                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639250                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639251                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639252                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639253                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639254                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639256                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639257                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639258                                20130901                12                 2                        2     First Lien                           Y                         120
       16639259                                20130901            11.125                 2                        2     First Lien                           N                           0
       16639260                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639261                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639262                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639263                                20130901            11.125                 2                        2     First Lien                           Y                         120
       16639264                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639265                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639266                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639267                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639228                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16639229                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639230                                20130801             11.25                 2                        2     First Lien                           Y                          84
       16639231                                20130901             11.25                 2                        2     First Lien                           Y                         120
       16639232                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639233                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639234                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639235                                20130801            11.375                 2                        2     First Lien                           Y                         120
       16639236                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639237                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639238                                20130901              10.5                 2                        2     First Lien                           N                           0
       16639239                                20130901              11.5                 2                        2     First Lien                           N                           0
       16639240                                20130901            11.375                 2                        2     First Lien                           N                           0
       16639241                                20130901            11.375                 2                        2     First Lien                           N                           0
       16639242                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639243                                20130901             11.75                 2                        2     First Lien                           N                           0
       16639200                                20130901            10.875                 2                        2     First Lien                           Y                          84
       16639201                                20130801            11.875                 2                        2     First Lien                           Y                         120
       16639202                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639203                                20130801                12                 2                        2     First Lien                           Y                          84
       16639204                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639205                                20130801              11.5                 2                        2     First Lien                           Y                          84
       16639206                                20130901             11.75                 2                        2     First Lien                           Y                         120
       16639207                                20130901            11.625                 2                        2     First Lien                           Y                          84
       16639208                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16639209                                20130901                11                 2                        2     First Lien                           N                           0
       16639210                                20130901              11.5                 2                        2     First Lien                           Y                          84
       16639211                                20130901            11.875                 2                        2     First Lien                           Y                          84
       16639212                                20130901            12.375                 2                        2     First Lien                           Y                          84
       16639213                                20130901            11.375                 2                        2     First Lien                           Y                         120
       16639214                                20130901            11.625                 2                        2     First Lien                           Y                         120
       16639215                                20130901            11.625                 2                        2     First Lien                           N                           0
       16639216                                20130901            11.375                 2                        2     First Lien                           Y                          84
       16639217                                20130901              11.5                 2                        2     First Lien                           Y                          84
       16639218                                20130801            12.125                 2                        2     First Lien                           Y                          84
       16639219                                20130801             11.75                 2                        2     First Lien                           Y                          84
       16639220                                20130901            11.875                 2                        2     First Lien                           Y                         120
       16639221                                20130901            11.625                 2                        2     First Lien                           Y                          84
       16639222                                20130801                12                 2                        2     First Lien                           Y                         120
       16639223                                20130901            11.375                 2                        2     First Lien                           Y                          84
       16639224                                20130801             9.625                 2                        2     First Lien                           Y                          84
       16639225                                20130501             11.75                 2                        2     First Lien                           Y                          84
       16639226                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16639227                                20130901              11.5                 2                        2     First Lien                           Y                         120
       16356725                                20110401            13.625                 2                        2     First Lien                           Y                         120
       16356726                                20130401            13.625             1.295                        2     First Lien                           Y                         120
       16356727                                20110401              13.5             1.295                        2     First Lien                           Y                         120
       16356728                                20130501             13.25             1.195                        2     First Lien                           Y                         120
       16356729                                20130401                13             1.395                        2     First Lien                           Y                         120
       16356730                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356731                                20110401             12.25             1.395                        2     First Lien                           Y                         120
       16356732                                20110401            14.375             1.875                        0     First Lien                           Y                         120
       16356733                                20130501            12.875             1.875                        2     First Lien                           Y                         120
       16356734                                20130401            12.625             1.395                        2     First Lien                           Y                         120
       16356735                                20130501            12.375             1.395                        2     First Lien                           Y                         120
       16356736                                20160401            13.375             1.875                        2     First Lien                           Y                         120
       16356737                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16356738                                20130501                12             1.395                        2     First Lien                           Y                         120
       16356739                                20130401              13.5             1.875                        2     First Lien                           Y                         120
       16356740                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356741                                20130401             12.75             1.395                        2     First Lien                           Y                         120
       16356742                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356743                                20110401                13             1.395                        2     First Lien                           Y                         120
       16356744                                20110401            13.875             1.295                        2     First Lien                           Y                         120
       16356745                                20130501              12.5             1.195                        2     First Lien                           Y                         120
       16356746                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16356747                                20130401            12.125             1.525                        2     First Lien                           Y                         120
       16356748                                20130401            12.125             1.875                        2     First Lien                           Y                         120
       16356749                                20130501            13.125             1.875                        2     First Lien                           Y                         120
       16356750                                20130601            11.875             1.395                        2     First Lien                           Y                         120
       16356751                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16356752                                20110401                12             1.395                        2     First Lien                           Y                         120
       16356753                                20130401            13.875             1.875                        2     First Lien                           Y                         120
       16356754                                20110401                13             1.395                        2     First Lien                           Y                         120
       16356755                                20130501            13.125             1.295                        2     First Lien                           Y                         120
       16356756                                20110401                13             1.395                        2     First Lien                           Y                         120
       16356757                                20130501             11.75             1.395                        2     First Lien                           Y                         120
       16356758                                20130401              13.5             1.875                        2     First Lien                           Y                         120
       16356759                                20160401            13.375             1.395                        2     First Lien                           Y                         120
       16356760                                20130501             13.25             1.395                        2     First Lien                           Y                         120
       16356761                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356762                                20110501            14.125             1.395                        0     First Lien                           Y                         120
       16356763                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356764                                20130401              12.5             1.425                        2     First Lien                           Y                         120
       16356765                                20160601              13.5             1.525                        2     First Lien                           Y                         120
       16356766                                20130501            12.875             1.395                        2     First Lien                           Y                         120
       16356767                                20110401            13.375             1.395                        2     First Lien                           Y                         120
       16356768                                20130401                13             1.395                        2     First Lien                           Y                         120
       16356769                                20160401             12.25             1.395                        2     First Lien                           Y                         120
       16356770                                20110401            13.375             1.875                        2     First Lien                           Y                         120
       16356771                                20110601             12.25             1.295                        2     First Lien                           Y                         120
       16356772                                20130401                13             1.875                        2     First Lien                           Y                         120
       16356773                                20110401            13.625             1.395                        2     First Lien                           Y                         120
       16356774                                20130501            12.125             1.295                        2     First Lien                           Y                         120
       16356775                                20110501            12.375             1.875                        2     First Lien                           Y                         120
       16356777                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356778                                20130501            13.125             1.295                        2     First Lien                           Y                         120
       16356779                                20130501                13             1.395                        2     First Lien                           Y                         120
       16356780                                20130401            12.875             1.395                        2     First Lien                           Y                         120
       16356781                                20160501            13.125             1.295                        2     First Lien                           Y                         120
       16356782                                20130401            12.625             1.525                        2     First Lien                           Y                         120
       16356783                                20110501            13.625             1.395                        2     First Lien                           Y                         120
       16356784                                20110401             12.75             1.295                        2     First Lien                           Y                         120
       16356786                                20110401            12.125             1.395                        2     First Lien                           Y                         120
       16356787                                20110501             12.25             1.875                        2     First Lien                           Y                         120
       16356788                                20130501             12.25             1.875                        2     First Lien                           Y                         120
       16356789                                20130401                13             1.875                        2     First Lien                           Y                         120
       16356790                                20130401              13.5             1.295                        2     First Lien                           Y                         120
       16356791                                20130501            12.125             1.395                        2     First Lien                           Y                         120
       16356792                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16356793                                20160401             13.25             1.295                        2     First Lien                           Y                         120
       16356794                                20110401            13.625             1.395                        2     First Lien                           Y                         120
       16356795                                20160401             12.75             1.235                        2     First Lien                           Y                         120
       16356796                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356797                                20130401                12             1.295                        2     First Lien                           Y                         120
       16356798                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16356799                                20110401             11.75             1.515                        2     First Lien                           Y                         120
       16356800                                20090401                12             1.875                        2     First Lien                           Y                         120
       16356801                                20130501            12.875             1.875                        2     First Lien                           Y                         120
       16356802                                20130401            13.375             1.425                        2     First Lien                           Y                         120
       16356803                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356804                                20110501            13.875             1.395                        0     First Lien                           Y                         120
       16356805                                20130501            13.125             1.875                        2     First Lien                           Y                         120
       16356806                                20130401            12.875             1.395                        2     First Lien                           Y                         120
       16356807                                20110401            13.375             1.615                        2     First Lien                           Y                         120
       16356808                                20110401              12.5             1.425                        2     First Lien                           Y                         120
       16356809                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356810                                20110501             13.25             1.295                        2     First Lien                           Y                         120
       16356811                                20130501                13             1.395                        2     First Lien                           Y                         120
       16356812                                20110401            13.375             1.615                        2     First Lien                           Y                         120
       16356813                                20130501            13.125             1.295                        2     First Lien                           Y                         120
       16356814                                20090401            12.125             1.395                        2     First Lien                           Y                         120
       16356815                                20130501            13.625             1.875                        2     First Lien                           Y                         120
       16356819                                20130501                13             1.395                        2     First Lien                           Y                         120
       16356820                                20130601            13.375             1.295                        2     First Lien                           Y                         120
       16356821                                20110401             11.75             1.395                        2     First Lien                           Y                         120
       16356822                                20130501                14             1.875                        2     First Lien                           Y                         120
       16356823                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356824                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356825                                20130501                12             1.395                        2     First Lien                           Y                         120
       16356826                                20160501             14.25             1.875                        2     First Lien                           Y                         120
       16356827                                20160501            13.375             1.395                        2     First Lien                           Y                         120
       16356828                                20110501            13.375             1.515                        2     First Lien                           Y                         120
       16356829                                20130501             12.75             1.395                        2     First Lien                           Y                         120
       16356830                                20130601            13.125             1.395                        0     First Lien                           Y                         120
       16356831                                20160501            13.375             1.875                        2     First Lien                           Y                         120
       16356832                                20110501              13.5             1.395                        2     First Lien                           Y                         120
       16356833                                20130501                13             1.295                        2     First Lien                           Y                         120
       16356834                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16356835                                20160501             13.25             1.395                        2     First Lien                           Y                         120
       16356836                                20110401              13.5             1.395                        2     First Lien                           Y                         120
       16356837                                20130501                12             1.395                        2     First Lien                           Y                         120
       16356838                                20130501             12.75             1.875                        2     First Lien                           Y                         120
       16356839                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356840                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16356841                                20130501              13.5             1.295                        2     First Lien                           Y                         120
       16356842                                20130501            12.125             1.395                        2     First Lien                           Y                         120
       16356843                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356844                                20160601            13.375             1.395                        2     First Lien                           Y                         120
       16356845                                20130501                12             1.395                        2     First Lien                           Y                         120
       16356846                                20110601            13.875             1.875                        0     First Lien                           Y                         120
       16356847                                20110601            13.875             1.875                        0     First Lien                           Y                         120
       16356848                                20130601                13             1.875                        2     First Lien                           Y                         120
       16356849                                20130501             13.25             1.615                        2     First Lien                           Y                         120
       16356850                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16356851                                20130501            13.375             1.295                        2     First Lien                           Y                         120
       16356852                                20110501             12.25             1.395                        2     First Lien                           Y                         120
       16356853                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356854                                20110601             13.25             1.395                        0     First Lien                           Y                         120
       16356855                                20110701             12.75             1.295                        0     First Lien                           Y                         120
       16356856                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356857                                20130601            13.125             1.395                        2     First Lien                           Y                         120
       16356858                                20110601              12.5             1.395                        2     First Lien                           Y                         120
       16356859                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356860                                20110501              12.5             1.395                        2     First Lien                           Y                         120
       16356861                                20110501            12.875             1.395                        2     First Lien                           Y                         120
       16356862                                20110601             12.75             1.395                        2     First Lien                           Y                         120
       16356863                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356864                                20160501                13             1.395                        2     First Lien                           Y                         120
       16356865                                20160501              11.5             1.395                        2     First Lien                           Y                         120
       16356866                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356867                                20130501             13.25             1.365                        2     First Lien                           Y                         120
       16356868                                20110501             12.75             1.395                        2     First Lien                           Y                         120
       16356869                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356870                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356871                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16356872                                20130501            12.875             1.295                        2     First Lien                           Y                         120
       16356873                                20130601            12.125             1.395                        2     First Lien                           Y                         120
       16356874                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16356875                                20160501              13.5             1.875                        2     First Lien                           Y                         120
       16356876                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356877                                20130401            12.875             1.295                        2     First Lien                           Y                         120
       16356878                                20130501                13             1.395                        0     First Lien                           Y                         120
       16356879                                20130601            12.875             1.875                        2     First Lien                           Y                         120
       16356880                                20130501              12.5             1.395                        2     First Lien                           Y                         120
       16356881                                20110501             13.25             1.395                        2     First Lien                           Y                         120
       16356882                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356883                                20110501             12.75             1.395                        2     First Lien                           Y                         120
       16356884                                20110501              14.5             1.395                        0     First Lien                           Y                         120
       16357354                                20110701            12.875             1.875                        0     First Lien                           Y                         120
       16357355                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357356                                20130701            12.375             1.875                        0     First Lien                           Y                         120
       16357357                                20110701              13.5             1.875                        0     First Lien                           Y                         120
       16357338                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357339                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357340                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357341                                20090601            13.125             1.395                        2     First Lien                           Y                         120
       16357342                                20090601                12             1.875                        0     First Lien                           Y                         120
       16357343                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357344                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357345                                20160701            12.875             1.875                        2     First Lien                           Y                         120
       16357346                                20110701             12.25             1.395                        0     First Lien                           Y                         120
       16357347                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357348                                20090601             12.75             1.875                        2     First Lien                           Y                         120
       16357349                                20130701                12             1.875                        0     First Lien                           Y                         120
       16357350                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357351                                20130701            12.625             1.875                        2     First Lien                           Y                         120
       16357352                                20110701              13.5             1.875                        0     First Lien                           Y                         120
       16357353                                20090701             13.25             1.875                        0     First Lien                           Y                         120
       16357304                                20110601                13             1.875                        0     First Lien                           Y                         120
       16357305                                20110601            13.375             1.875                        0     First Lien                           Y                         120
       16357306                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357307                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357308                                20110601            13.375             1.875                        0     First Lien                           Y                         120
       16357310                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357312                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357313                                20130601             13.25             1.295                        2     First Lien                           Y                         120
       16357314                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357315                                20130601             13.75             1.395                        2     First Lien                           Y                         120
       16357316                                20130601            12.625             1.395                        2     First Lien                           Y                         120
       16357317                                20110601            13.875             1.875                        2     First Lien                           Y                         120
       16357318                                20090601            14.375             1.295                        0     First Lien                           Y                         120
       16357319                                20130701              12.5             1.875                        2     First Lien                           Y                         120
       16357320                                20090601            12.125             1.875                        0     First Lien                           Y                         120
       16357321                                20130601            14.625             1.875                        0     First Lien                           Y                         120
       16357322                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357323                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357324                                20160701             12.75             1.875                        2     First Lien                           Y                         120
       16357325                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16357326                                20110701                12             1.295                        2     First Lien                           Y                         120
       16357327                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357329                                20130701            13.625             1.875                        0     First Lien                           Y                         120
       16357330                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357332                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357333                                20110601             13.75             1.875                        0     First Lien                           Y                         120
       16357334                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357335                                20110601            14.125             1.875                        0     First Lien                           Y                         120
       16357336                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357337                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357263                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357264                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357265                                20130601            14.375             1.875                        0     First Lien                           Y                         120
       16357266                                20130701            12.125             1.875                        2     First Lien                           Y                         120
       16357267                                20110601                14             1.875                        0     First Lien                           Y                         120
       16357268                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357269                                20110701             12.25             1.875                        2     First Lien                           Y                         120
       16357270                                20110701              12.5             1.875                        2     First Lien                           Y                         120
       16357271                                20110701                12             1.875                        0     First Lien                           Y                         120
       16357273                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16357274                                20110601                12             1.395                        2     First Lien                           Y                         120
       16357275                                20110601            13.625             1.875                        2     First Lien                           Y                         120
       16357276                                20110601            12.875             1.195                        2     First Lien                           Y                         120
       16357277                                20110701            12.125             1.395                        2     First Lien                           Y                         120
       16357278                                20130701              12.5             1.875                        2     First Lien                           Y                         120
       16357279                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357280                                20130701                12             1.395                        2     First Lien                           Y                         120
       16357281                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357283                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357284                                20130601            12.375             1.295                        2     First Lien                           Y                         120
       16357285                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16357286                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357287                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16357288                                20110601              12.5             1.875                        2     First Lien                           Y                         120
       16357289                                20110601            13.625             1.875                        2     First Lien                           Y                         120
       16357290                                20130601            13.875             1.395                        0     First Lien                           Y                         120
       16357292                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357293                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357294                                20160601            13.375             1.875                        2     First Lien                           Y                         120
       16357295                                20160601             12.75             1.875                        2     First Lien                           Y                         120
       16357296                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357297                                20130601             14.25             1.875                        0     First Lien                           Y                         120
       16357298                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16357299                                20110601             13.25             1.395                        2     First Lien                           Y                         120
       16357300                                20110601             12.75             1.395                        2     First Lien                           Y                         120
       16357301                                20130601                14             1.875                        0     First Lien                           Y                         120
       16357302                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357303                                20110601            12.875             1.395                        2     First Lien                           Y                         120
       16357252                                20130701                12             1.395                        2     First Lien                           Y                         120
       16357253                                20160601            12.125             1.875                        2     First Lien                           Y                         120
       16357254                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357255                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16357256                                20160601            13.875             1.295                        2     First Lien                           Y                         120
       16357257                                20110701                12             1.295                        2     First Lien                           Y                         120
       16357258                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357259                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357260                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357261                                20110701            12.125             1.875                        2     First Lien                           Y                         120
       16357232                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16357233                                20130701             12.75             1.395                        2     First Lien                           Y                         120
       16357234                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357235                                20110701             12.75             1.875                        2     First Lien                           Y                         120
       16357236                                20090601             13.75             1.875                        0     First Lien                           Y                         120
       16357237                                20110601            11.875             1.875                        2     First Lien                           Y                         120
       16357238                                20160601                13             1.875                        2     First Lien                           Y                         120
       16357239                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357240                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357241                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357242                                20110701                12             1.395                        2     First Lien                           Y                         120
       16357243                                20110601                14             1.875                        0     First Lien                           Y                         120
       16357244                                20110601            13.625             1.875                        2     First Lien                           Y                         120
       16357245                                20110601             13.75             1.295                        2     First Lien                           Y                         120
       16357246                                20160601            13.625             1.395                        2     First Lien                           Y                         120
       16357247                                20090601             14.25             1.395                        0     First Lien                           Y                         120
       16357248                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357249                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357250                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357251                                20160701            12.375             1.875                        2     First Lien                           Y                         120
       16357212                                20130701              12.5             1.875                        2     First Lien                           Y                         120
       16357213                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357214                                20130601                13             1.425                        2     First Lien                           Y                         120
       16357215                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357216                                20110601                14             1.875                        2     First Lien                           Y                         120
       16357217                                20110701                12             1.395                        2     First Lien                           Y                         120
       16357218                                20110601              12.5             1.875                        2     First Lien                           Y                         120
       16357219                                20110601            13.375             1.875                        2     First Lien                           Y                         120
       16357220                                20130601            12.875             1.515                        2     First Lien                           Y                         120
       16357221                                20130601            12.875             1.395                        2     First Lien                           Y                         120
       16357222                                20130601              13.5             1.525                        0     First Lien                           Y                         120
       16357223                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357224                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357225                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357226                                20110601              13.5             1.525                        2     First Lien                           Y                         120
       16357227                                20090601            12.125             1.295                        2     First Lien                           Y                         120
       16357228                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357229                                20110601            12.625             1.875                        2     First Lien                           Y                         120
       16357230                                20130601            13.125             1.875                        2     First Lien                           Y                         120
       16357231                                20160701             12.75             1.395                        2     First Lien                           Y                         120
       16357643                                20130601             13.25             1.875                        0     First Lien                           Y                         120
       16357644                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357645                                20130601            13.375             1.875                        0     First Lien                           Y                         120
       16357646                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357647                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357648                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16357649                                20130601            14.625             1.395                        0     First Lien                           Y                         120
       16357650                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357651                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357652                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357653                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357655                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357656                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357657                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357658                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16357659                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357660                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357661                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357663                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357664                                20090701                12             1.875                        2     First Lien                           Y                         120
       16357665                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357666                                20130701            12.625             1.875                        0     First Lien                           Y                         120
       16357667                                20130601              13.5             1.875                        0     First Lien                           Y                         120
       16357668                                20110601             14.25             1.875                        0     First Lien                           Y                         120
       16357669                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357670                                20130601            13.125             1.875                        0     First Lien                           Y                         120
       16357671                                20090701            12.375             1.875                        0     First Lien                           Y                         120
       16357672                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357673                                20090701             12.75             1.875                        2     First Lien                           Y                         120
       16357674                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357675                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357676                                20090601                12             1.875                        0     First Lien                           Y                         120
       16357677                                20110701             12.75             1.875                        2     First Lien                           Y                         120
       16357678                                20110601            12.625             1.875                        2     First Lien                           Y                         120
       16357679                                20110701             12.25             1.875                        2     First Lien                           Y                         120
       16357680                                20110701             12.25             1.875                        0     First Lien                           Y                         120
       16357623                                20130601            12.875             1.875                        2     First Lien                           Y                         120
       16357624                                20110601              14.5             1.875                        0     First Lien                           Y                         120
       16357625                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357626                                20160601              13.5             1.395                        2     First Lien                           Y                         120
       16357627                                20110601            12.625             1.525                        2     First Lien                           Y                         120
       16357628                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357629                                20130601            13.375             1.875                        0     First Lien                           Y                         120
       16357630                                20090601             14.25             1.875                        0     First Lien                           Y                         120
       16357631                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357632                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16357633                                20110701                12             1.395                        2     First Lien                           Y                         120
       16357634                                20130601            13.125             1.875                        0     First Lien                           Y                         120
       16357635                                20130701              13.5             1.875                        2     First Lien                           Y                         120
       16357636                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357637                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357638                                20090601                13             1.875                        0     First Lien                           Y                         120
       16357639                                20130601             13.25             1.875                        0     First Lien                           Y                         120
       16357640                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357641                                20130601            13.875             1.875                        0     First Lien                           Y                         120
       16357642                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357583                                20090601                13             1.295                        0     First Lien                           Y                         120
       16357584                                20110601              12.5             1.875                        2     First Lien                           Y                         120
       16357585                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357587                                20160601            12.125             1.295                        2     First Lien                           Y                         120
       16357588                                20130601              12.5             1.875                        2     First Lien                           Y                         120
       16357590                                20110601            12.625             1.395                        2     First Lien                           Y                         120
       16357591                                20130601            13.875             1.875                        2     First Lien                           Y                         120
       16357592                                20160601              13.5             1.515                        2     First Lien                           Y                         120
       16357593                                20130601            13.875             1.365                        2     First Lien                           Y                         120
       16357594                                20130601                13             1.295                        0     First Lien                           Y                         120
       16357595                                20110601             12.25             1.875                        2     First Lien                           Y                         120
       16357596                                20130601                12             1.875                        0     First Lien                           Y                         120
       16357597                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357599                                20130601            12.125             1.395                        2     First Lien                           Y                         120
       16357600                                20110601            13.625             1.875                        2     First Lien                           Y                         120
       16357601                                20110601             13.25             1.395                        2     First Lien                           Y                         120
       16357602                                20130601            13.125             1.395                        2     First Lien                           Y                         120
       16357603                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16357604                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357605                                20130601            13.375             1.525                        2     First Lien                           Y                         120
       16357606                                20130601            12.875             1.395                        0     First Lien                           Y                         120
       16357607                                20130601            12.375             1.875                        2     First Lien                           Y                         120
       16357608                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16357609                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357610                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357611                                20130701            13.125             1.875                        2     First Lien                           Y                         120
       16357612                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357613                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357614                                20130601            12.875             1.875                        0     First Lien                           Y                         120
       16357616                                20130701            12.625             1.875                        2     First Lien                           Y                         120
       16357617                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357618                                20110601            12.625             1.395                        2     First Lien                           Y                         120
       16357619                                20110601            13.125             1.395                        2     First Lien                           Y                         120
       16357620                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357621                                20110701            13.375             1.425                        2     First Lien                           Y                         120
       16357622                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357581                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357582                                20160601              12.5             1.875                        2     First Lien                           Y                         120
       16357579                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357577                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357578                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357571                                20130701             13.25             1.875                        2     First Lien                           Y                         120
       16357572                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357573                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357574                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357575                                20160601              12.5             1.295                        2     First Lien                           Y                         120
       16357576                                20130601            13.875             1.875                        2     First Lien                           Y                         120
       16357567                                20130601            12.875             1.295                        2     First Lien                           Y                         120
       16357568                                20130601            12.375             1.875                        2     First Lien                           Y                         120
       16357569                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357570                                20130601              13.5             1.875                        2     First Lien                           Y                         120
       16357561                                20160601            13.375             1.515                        2     First Lien                           Y                         120
       16357562                                20130601            12.125             1.395                        2     First Lien                           Y                         120
       16357563                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357564                                20130601            12.875             1.395                        2     First Lien                           Y                         120
       16357565                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357566                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357549                                20130601              13.5             1.295                        2     First Lien                           Y                         120
       16357550                                20110701            12.375             1.395                        2     First Lien                           Y                         120
       16357551                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357552                                20130601             12.25             1.875                        2     First Lien                           Y                         120
       16357553                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357554                                20160601            13.125             1.295                        2     First Lien                           Y                         120
       16357555                                20130601            12.125             1.395                        2     First Lien                           Y                         120
       16357556                                20160601            12.625             1.875                        2     First Lien                           Y                         120
       16357557                                20160601             11.75             1.875                        2     First Lien                           Y                         120
       16357558                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357559                                20110601            12.125             1.295                        2     First Lien                           Y                         120
       16357560                                20130601            13.875             1.875                        0     First Lien                           Y                         120
       16357543                                20110601            12.375             1.875                        2     First Lien                           Y                         120
       16357544                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357545                                20110701                12             1.295                        2     First Lien                           Y                         120
       16357546                                20110601              12.5             1.875                        2     First Lien                           Y                         120
       16357547                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357548                                20130601                12             1.395                        2     First Lien                           Y                         120
       16357539                                20160501            12.625             1.875                        2     First Lien                           Y                         120
       16357540                                20130601              12.5             1.525                        2     First Lien                           Y                         120
       16357541                                20110701            12.875             1.875                        2     First Lien                           Y                         120
       16357542                                20110501            13.125             1.875                        2     First Lien                           Y                         120
       16357535                                20160601            12.625             1.295                        2     First Lien                           Y                         120
       16357536                                20110501            12.375             1.875                        2     First Lien                           Y                         120
       16357537                                20130601            12.625             1.295                        2     First Lien                           Y                         120
       16357538                                20130601            12.125             1.875                        2     First Lien                           Y                         120
       16357531                                20110501                13             1.875                        2     First Lien                           Y                         120
       16357532                                20130701                12             1.295                        2     First Lien                           Y                         120
       16357533                                20160601             12.25             1.875                        2     First Lien                           Y                         120
       16357534                                20110601            12.125             1.875                        2     First Lien                           Y                         120
       16357500                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16357501                                20130501             12.25             1.395                        2     First Lien                           Y                         120
       16357502                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16357503                                20130501              13.5             1.295                        2     First Lien                           Y                         120
       16357504                                20130501              13.5             1.295                        2     First Lien                           Y                         120
       16357505                                20130501              12.5             1.395                        2     First Lien                           Y                         120
       16357506                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357507                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16357508                                20160601                12             1.395                        2     First Lien                           Y                         120
       16357509                                20110501            13.125             1.875                        2     First Lien                           Y                         120
       16357510                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16357511                                20110501             13.25             1.365                        2     First Lien                           Y                         120
       16357512                                20130501            12.125             1.395                        2     First Lien                           Y                         120
       16357513                                20110501            13.375             1.875                        2     First Lien                           Y                         120
       16357514                                20130501             12.25             1.235                        2     First Lien                           Y                         120
       16357515                                20130501            12.875             1.875                        2     First Lien                           Y                         120
       16357516                                20130501            12.125             1.295                        2     First Lien                           Y                         120
       16357517                                20110501             12.25             1.875                        2     First Lien                           Y                         120
       16357518                                20110601              13.5             1.295                        2     First Lien                           Y                         120
       16357519                                20110601            13.375             1.395                        2     First Lien                           Y                         120
       16357520                                20130501            12.625             1.395                        2     First Lien                           Y                         120
       16357521                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357522                                20110501            11.875             1.525                        2     First Lien                           Y                         120
       16357523                                20130601            12.625             1.875                        2     First Lien                           Y                         120
       16357524                                20160601             13.25             1.875                        2     First Lien                           Y                         120
       16357525                                20130501            13.625             1.395                        2     First Lien                           Y                         120
       16357526                                20110601                13             1.295                        0     First Lien                           Y                         120
       16357527                                20110601              14.5             1.875                        0     First Lien                           Y                         120
       16357528                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16357529                                20130601            12.375             1.395                        2     First Lien                           Y                         120
       16357530                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357152                                20090601            11.875             1.395                        2     First Lien                           Y                         120
       16357153                                20110601              14.5             1.875                        0     First Lien                           Y                         120
       16357154                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357155                                20130601             13.75             1.395                        2     First Lien                           Y                         120
       16357156                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357157                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357158                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357159                                20130601             13.75             1.395                        2     First Lien                           Y                         120
       16357160                                20130601              13.5             1.295                        2     First Lien                           Y                         120
       16357161                                20130601            14.625             1.395                        0     First Lien                           Y                         120
       16357162                                20130601            12.125             1.875                        2     First Lien                           Y                         120
       16357163                                20110601            13.375             1.875                        2     First Lien                           Y                         120
       16357164                                20130601             12.75             1.395                        2     First Lien                           Y                         120
       16357166                                20160701              12.5             1.395                        2     First Lien                           Y                         120
       16357167                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357168                                20160601            12.875             1.395                        2     First Lien                           Y                         120
       16357169                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357170                                20160601             13.25             1.295                        2     First Lien                           Y                         120
       16357171                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357172                                20090601             13.25             1.425                        0     First Lien                           Y                         120
       16357173                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357174                                20110601            13.875             1.875                        2     First Lien                           Y                         120
       16357175                                20110601            14.375             1.295                        0     First Lien                           Y                         120
       16357176                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357177                                20130601            14.125             1.875                        0     First Lien                           Y                         120
       16357178                                20130601            14.125             1.875                        0     First Lien                           Y                         120
       16357179                                20130601            13.125             1.875                        2     First Lien                           Y                         120
       16357180                                20110601            12.875             1.395                        2     First Lien                           Y                         120
       16357181                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357183                                20130701            13.375             1.875                        2     First Lien                           Y                         120
       16357184                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357185                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357186                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16357187                                20090701                13             1.295                        0     First Lien                           Y                         120
       16357188                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357189                                20130601             13.75             1.395                        2     First Lien                           Y                         120
       16357190                                20110601            13.125             1.395                        2     First Lien                           Y                         120
       16357191                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357192                                20110601            13.125             1.295                        0     First Lien                           Y                         120
       16357193                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357194                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357195                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357196                                20130601            13.875             1.875                        0     First Lien                           Y                         120
       16357197                                20130701             13.25             1.875                        2     First Lien                           Y                         120
       16357198                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357199                                20130701                12             1.395                        2     First Lien                           Y                         120
       16357200                                20130601              13.5             1.875                        2     First Lien                           Y                         120
       16357201                                20110601            13.875             1.295                        2     First Lien                           Y                         120
       16357202                                20130601             13.75             1.295                        2     First Lien                           Y                         120
       16357203                                20130601             13.25             1.395                        0     First Lien                           Y                         120
       16357204                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357205                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16357206                                20130601            13.375             1.195                        2     First Lien                           Y                         120
       16357207                                20160701                13             1.875                        2     First Lien                           Y                         120
       16357208                                20130601            13.875             1.875                        0     First Lien                           Y                         120
       16357209                                20130601            14.625             1.875                        0     First Lien                           Y                         120
       16357210                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357211                                20130601            12.125             1.295                        2     First Lien                           Y                         120
       16357136                                20110701             12.25             1.875                        2     First Lien                           Y                         120
       16357137                                20090601            13.875             1.875                        0     First Lien                           Y                         120
       16357138                                20130601            13.375             1.875                        2     First Lien                           Y                         120
       16357139                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16357140                                20110601            13.125             1.295                        2     First Lien                           Y                         120
       16357141                                20110601            12.625             1.395                        2     First Lien                           Y                         120
       16357142                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16357143                                20130601            13.375             1.875                        0     First Lien                           Y                         120
       16357144                                20130601            13.125             1.875                        2     First Lien                           Y                         120
       16357145                                20130601              12.5             1.295                        2     First Lien                           Y                         120
       16357146                                20130601              12.5             1.875                        2     First Lien                           Y                         120
       16357148                                20110601             13.25             1.395                        2     First Lien                           Y                         120
       16357149                                20130601            12.375             1.395                        2     First Lien                           Y                         120
       16357150                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357151                                20130601              12.5             1.425                        2     First Lien                           Y                         120
       16357110                                20110601                13             1.875                        0     First Lien                           Y                         120
       16357111                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16357112                                20110601             13.25             1.395                        2     First Lien                           Y                         120
       16357113                                20110601            13.125             1.295                        2     First Lien                           Y                         120
       16357114                                20130601              12.5             1.875                        2     First Lien                           Y                         120
       16357115                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16357116                                20130601             13.25             1.395                        2     First Lien                           Y                         120
       16357117                                20130601                13             1.395                        2     First Lien                           Y                         120
       16357118                                20130501             12.25             1.395                        2     First Lien                           Y                         120
       16357119                                20130601            13.125             1.875                        0     First Lien                           Y                         120
       16357120                                20110701            12.375             1.875                        2     First Lien                           Y                         120
       16357122                                20110701            13.125             1.295                        2     First Lien                           Y                         120
       16357124                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357125                                20110701             13.75             1.395                        2     First Lien                           Y                         120
       16357126                                20130601                13             1.195                        0     First Lien                           Y                         120
       16357127                                20110601              12.5             1.875                        2     First Lien                           Y                         120
       16357128                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16357129                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357130                                20110601            13.375             1.395                        2     First Lien                           Y                         120
       16357131                                20110601            12.625             1.395                        2     First Lien                           Y                         120
       16357132                                20110601            13.625             1.875                        2     First Lien                           Y                         120
       16357133                                20090701            13.375             1.395                        2     First Lien                           Y                         120
       16357134                                20110701            13.375             1.875                        2     First Lien                           Y                         120
       16357135                                20130601             13.25             1.425                        2     First Lien                           Y                         120
       16357100                                20160601             12.75             1.395                        2     First Lien                           Y                         120
       16357101                                20130601            12.875             1.875                        2     First Lien                           Y                         120
       16357102                                20090601            12.625             1.875                        2     First Lien                           Y                         120
       16357103                                20160601             13.25             1.875                        2     First Lien                           Y                         120
       16357104                                20110601              14.5             1.525                        0     First Lien                           Y                         120
       16357105                                20130601            12.375             1.875                        2     First Lien                           Y                         120
       16357106                                20130601            12.875             1.875                        2     First Lien                           Y                         120
       16357107                                20130601            12.875             1.875                        2     First Lien                           Y                         120
       16357108                                20130701            12.875             1.875                        2     First Lien                           Y                         120
       16357109                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357088                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16357089                                20110601              13.5             1.365                        2     First Lien                           Y                         120
       16357090                                20130701            13.375             1.875                        2     First Lien                           Y                         120
       16357092                                20090601                13             1.295                        0     First Lien                           Y                         120
       16357093                                20130701             12.25             1.875                        2     First Lien                           Y                         120
       16357094                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357095                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357096                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357097                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16357098                                20130601            13.125             1.295                        2     First Lien                           Y                         120
       16357099                                20130601            13.625             1.395                        0     First Lien                           Y                         120
       16357062                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357063                                20130601                13             1.875                        0     First Lien                           Y                         120
       16357064                                20090501             13.25             1.875                        2     First Lien                           Y                         120
       16357066                                20130701            12.375             1.295                        2     First Lien                           Y                         120
       16357067                                20130601              13.5             1.875                        2     First Lien                           Y                         120
       16357068                                20130601            12.875             1.395                        2     First Lien                           Y                         120
       16357069                                20130701            13.125             1.395                        2     First Lien                           Y                         120
       16357070                                20090601              13.5             1.395                        2     First Lien                           Y                         120
       16357071                                20110601            12.875             1.875                        2     First Lien                           Y                         120
       16357072                                20130601            13.125             1.395                        2     First Lien                           Y                         120
       16357073                                20130601            13.375             1.295                        2     First Lien                           Y                         120
       16357074                                20130701             12.25             1.395                        0     First Lien                           Y                         120
       16357075                                20130601            12.375             1.875                        2     First Lien                           Y                         120
       16357076                                20130601            13.125             1.875                        2     First Lien                           Y                         120
       16357077                                20130601            12.875             1.295                        2     First Lien                           Y                         120
       16357078                                20130601              12.5             1.395                        2     First Lien                           Y                         120
       16357079                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16357080                                20130601              12.5             1.395                        2     First Lien                           Y                         120
       16357081                                20130701              12.5             1.875                        2     First Lien                           Y                         120
       16357082                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357083                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357085                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16357086                                20130601            13.375             1.295                        0     First Lien                           Y                         120
       16357087                                20130701             13.25             1.875                        2     First Lien                           Y                         120
       16356998                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16356999                                20110601            12.875             1.395                        2     First Lien                           Y                         120
       16357000                                20130501              12.5             1.395                        2     First Lien                           Y                         120
       16357001                                20130601            12.125             1.875                        2     First Lien                           Y                         120
       16357002                                20130601            13.125             1.875                        2     First Lien                           Y                         120
       16357003                                20130601            13.375             1.875                        0     First Lien                           Y                         120
       16357004                                20090601              12.5             1.875                        2     First Lien                           Y                         120
       16357005                                20110501             12.25             1.875                        2     First Lien                           Y                         120
       16357006                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16357007                                20130601              13.5             1.515                        2     First Lien                           Y                         120
       16357008                                20130501            13.625             1.395                        2     First Lien                           Y                         120
       16357009                                20130501              13.5             1.195                        2     First Lien                           Y                         120
       16357011                                20130501            13.125             1.875                        2     First Lien                           Y                         120
       16357012                                20110601            13.375             1.395                        2     First Lien                           Y                         120
       16357013                                20090601                13             1.875                        0     First Lien                           Y                         120
       16356923                                20110601             12.87             1.875                        2     First Lien                           Y                         120
       16356924                                20110501             13.75             1.875                        2     First Lien                           Y                         120
       16356925                                20130501            11.875             1.365                        2     First Lien                           Y                         120
       16356926                                20110501            11.875             1.875                        2     First Lien                           Y                         120
       16356927                                20130501            13.375             1.875                        2     First Lien                           Y                         120
       16356928                                20130501            13.375             1.295                        2     First Lien                           Y                         120
       16356929                                20130601            13.625             1.395                        2     First Lien                           Y                         120
       16356930                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16356931                                20110501            13.125             1.295                        2     First Lien                           Y                         120
       16356932                                20110601              14.5             1.395                        0     First Lien                           Y                         120
       16357014                                20090501                13             1.875                        0     First Lien                           Y                         120
       16357015                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16357016                                20130601            13.375             1.395                        0     First Lien                           Y                         120
       16357017                                20160601            11.625             1.875                        2     First Lien                           Y                         120
       16357018                                20130501                13             1.875                        2     First Lien                           Y                         120
       16357019                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16357020                                20130601             12.25             1.615                        2     First Lien                           Y                         120
       16357021                                20130601              13.5             1.875                        2     First Lien                           Y                         120
       16357022                                20110501            12.875             1.395                        2     First Lien                           Y                         120
       16357023                                20130701                12             1.285                        2     First Lien                           Y                         120
       16357024                                20130701             12.75             1.875                        2     First Lien                           Y                         120
       16357025                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357026                                20130601            13.625             1.295                        2     First Lien                           Y                         120
       16357027                                20130601            13.125             1.395                        2     First Lien                           Y                         120
       16357028                                20130601             13.25             1.395                        2     First Lien                           Y                         120
       16357029                                20130601            12.125             1.395                        2     First Lien                           Y                         120
       16356933                                20110501            11.875             1.485                        2     First Lien                           Y                         120
       16356934                                20110501              12.5             1.875                        2     First Lien                           Y                         120
       16356935                                20160501            13.625             1.875                        2     First Lien                           Y                         120
       16356936                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16356937                                20110501                12             1.395                        2     First Lien                           Y                         120
       16356938                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16356939                                20110501            12.875             1.295                        2     First Lien                           Y                         120
       16356940                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356941                                20090501            12.125             1.395                        2     First Lien                           Y                         120
       16356942                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356943                                20130601            13.125             1.395                        2     First Lien                           Y                         120
       16356944                                20130601             13.25             1.395                        2     First Lien                           Y                         120
       16356945                                20090501                13             1.395                        0     First Lien                           Y                         120
       16356946                                20110501              13.5             1.875                        2     First Lien                           Y                         120
       16356947                                20110601            11.875             1.295                        2     First Lien                           Y                         120
       16356948                                20110501                13             1.875                        2     First Lien                           Y                         120
       16356949                                20110501             13.25             1.425                        2     First Lien                           Y                         120
       16356950                                20090501                12             1.395                        2     First Lien                           Y                         120
       16356951                                20160501            13.875             1.875                        2     First Lien                           Y                         120
       16356952                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356953                                20130501             12.75             1.395                        2     First Lien                           Y                         120
       16356954                                20130601            13.125             1.395                        0     First Lien                           Y                         120
       16356955                                20160501             13.75             1.875                        2     First Lien                           Y                         120
       16356956                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356957                                20130501            12.625             1.395                        2     First Lien                           Y                         120
       16356958                                20130501            13.125             1.295                        2     First Lien                           Y                         120
       16356959                                20160601             12.75             1.395                        2     First Lien                           Y                         120
       16356960                                20110501            12.625             1.875                        2     First Lien                           Y                         120
       16356961                                20130601            14.125             1.395                        2     First Lien                           Y                         120
       16356962                                20110701                12             1.395                        2     First Lien                           Y                         120
       16356963                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16356964                                20160601            13.875             1.395                        2     First Lien                           Y                         120
       16356965                                20110601             13.75             1.395                        2     First Lien                           Y                         120
       16356966                                20130501                13             1.395                        2     First Lien                           Y                         120
       16356967                                20110601              13.5             1.395                        2     First Lien                           Y                         120
       16356968                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16356969                                20110501            13.375             1.875                        2     First Lien                           Y                         120
       16356970                                20130501            13.625             1.395                        2     First Lien                           Y                         120
       16356971                                20110501            13.875             1.295                        2     First Lien                           Y                         120
       16356972                                20130501            13.375             1.295                        2     First Lien                           Y                         120
       16356973                                20130701                12             1.395                        2     First Lien                           Y                         120
       16356974                                20160601             12.25             1.875                        2     First Lien                           Y                         120
       16356975                                20110601             12.75             1.875                        2     First Lien                           Y                         120
       16356976                                20130501            13.625             1.295                        2     First Lien                           Y                         120
       16356977                                20130601            12.125             1.295                        2     First Lien                           Y                         120
       16356978                                20110601              13.5             1.875                        2     First Lien                           Y                         120
       16356979                                20110601            12.375             1.395                        2     First Lien                           Y                         120
       16356980                                20110601            13.375             1.875                        2     First Lien                           Y                         120
       16356981                                20110501            12.625             1.395                        2     First Lien                           Y                         120
       16356982                                20130601             13.75             1.875                        2     First Lien                           Y                         120
       16356983                                20110601              14.5             1.395                        0     First Lien                           Y                         120
       16356984                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16356985                                20160701                12             1.515                        2     First Lien                           Y                         120
       16356986                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16356987                                20110501              13.5             1.515                        2     First Lien                           Y                         120
       16356988                                20130701                12             1.195                        2     First Lien                           Y                         120
       16356989                                20110701                12             1.875                        2     First Lien                           Y                         120
       16356990                                20160501              13.5             1.875                        2     First Lien                           Y                         120
       16356991                                20090501             13.25             1.515                        2     First Lien                           Y                         120
       16356992                                20110501            12.875             1.875                        2     First Lien                           Y                         120
       16356994                                20130601            13.375             1.395                        0     First Lien                           Y                         120
       16356995                                20090501             12.75             1.875                        2     First Lien                           Y                         120
       16356996                                20110601                12             1.875                        2     First Lien                           Y                         120
       16356997                                20110501              13.5             1.875                        2     First Lien                           Y                         120
       16357030                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16357031                                20110601            12.125             1.295                        2     First Lien                           Y                         120
       16357032                                20130701                12             1.875                        2     First Lien                           Y                         120
       16357033                                20160601             12.75             1.875                        2     First Lien                           Y                         120
       16357034                                20130601            11.875             1.395                        2     First Lien                           Y                         120
       16357035                                20160601              13.5             1.875                        2     First Lien                           Y                         120
       16357036                                20130701              12.5             1.395                        2     First Lien                           Y                         120
       16357037                                20160601             13.75             1.875                        2     First Lien                           Y                         120
       16357038                                20130601             12.75             1.295                        2     First Lien                           Y                         120
       16357039                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357040                                20130601            13.375             1.395                        2     First Lien                           Y                         120
       16357041                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357042                                20130601             13.75             1.875                        0     First Lien                           Y                         120
       16357043                                20130501                13             1.875                        2     First Lien                           Y                         120
       16357044                                20160601            13.625             1.395                        2     First Lien                           Y                         120
       16357045                                20110501            13.375             1.395                        2     First Lien                           Y                         120
       16357046                                20130501            13.625             1.195                        2     First Lien                           Y                         120
       16357047                                20090501                12             1.425                        2     First Lien                           Y                         120
       16357048                                20110601                13             1.875                        2     First Lien                           Y                         120
       16357049                                20110501            13.875             1.875                        2     First Lien                           Y                         120
       16357050                                20130701                12             1.365                        2     First Lien                           Y                         120
       16357051                                20130601            13.625             1.875                        2     First Lien                           Y                         120
       16357052                                20110701            12.375             1.525                        2     First Lien                           Y                         120
       16357053                                20110601            13.125             1.875                        2     First Lien                           Y                         120
       16357054                                20110601            13.625             1.295                        2     First Lien                           Y                         120
       16357055                                20110601            13.625             1.295                        2     First Lien                           Y                         120
       16357056                                20110601              12.5             1.295                        2     First Lien                           Y                         120
       16357057                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357058                                20130601            14.625             1.525                        0     First Lien                           Y                         120
       16357059                                20160601             12.25             1.875                        2     First Lien                           Y                         120
       16357060                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16357061                                20110601            12.875             1.425                        2     First Lien                           Y                         120
       16356897                                20160601            13.875             1.395                        2     First Lien                           Y                         120
       16356898                                20130501            13.125             1.525                        2     First Lien                           Y                         120
       16356899                                20110701                12             1.395                        2     First Lien                           Y                         120
       16356900                                20110601             13.25             1.875                        2     First Lien                           Y                         120
       16356901                                20110501             13.25             1.395                        2     First Lien                           Y                         120
       16356902                                20110501                13             1.295                        0     First Lien                           Y                         120
       16356903                                20110501              13.5             1.875                        2     First Lien                           Y                         120
       16356904                                20160501             12.25             1.395                        2     First Lien                           Y                         120
       16356905                                20130701            12.125             1.875                        2     First Lien                           Y                         120
       16356906                                20130601                13             1.875                        2     First Lien                           Y                         120
       16356907                                20110601            12.875             1.395                        2     First Lien                           Y                         120
       16356908                                20110501              13.5             1.875                        2     First Lien                           Y                         120
       16356909                                20110601             13.25             1.295                        2     First Lien                           Y                         120
       16356910                                20110501                13             1.395                        2     First Lien                           Y                         120
       16356911                                20130501             13.25             1.395                        2     First Lien                           Y                         120
       16356912                                20160501            13.875             1.395                        2     First Lien                           Y                         120
       16356913                                20160501            13.375             1.395                        2     First Lien                           Y                         120
       16356914                                20130701                12             1.395                        2     First Lien                           Y                         120
       16356915                                20130601                14             1.875                        2     First Lien                           Y                         120
       16356916                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16356917                                20130501              12.5             1.875                        2     First Lien                           Y                         120
       16356918                                20110501                13             1.875                        2     First Lien                           Y                         120
       16356920                                20090601            12.125             1.395                        2     First Lien                           Y                         120
       16356921                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16356922                                20160501             13.25             1.395                        2     First Lien                           Y                         120
       16356885                                20110501              13.5             1.295                        2     First Lien                           Y                         120
       16356886                                20110501              13.5             1.395                        2     First Lien                           Y                         120
       16356887                                20130501            12.125             1.395                        2     First Lien                           Y                         120
       16356888                                20130501            12.875             1.875                        2     First Lien                           Y                         120
       16356889                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16356890                                20130501            12.625             1.295                        2     First Lien                           Y                         120
       16356891                                20130601             12.25             1.875                        2     First Lien                           Y                         120
       16356892                                20130501             13.75             1.875                        2     First Lien                           Y                         120
       16356893                                20110501             13.25             1.295                        2     First Lien                           Y                         120
       16356894                                20130501              12.5             1.365                        2     First Lien                           Y                         120
       16356895                                20130701            12.625             1.295                        2     First Lien                           Y                         120
       16356896                                20130601                12             1.875                        2     First Lien                           Y                         120
       16356713                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356714                                20130401             11.75             1.395                        2     First Lien                           Y                         120
       16356715                                20110401             13.25             1.875                        2     First Lien                           Y                         120
       16356716                                20130401              13.5             1.395                        2     First Lien                           Y                         120
       16356717                                20110401              13.5             1.295                        2     First Lien                           Y                         120
       16356718                                20130401            13.125             1.195                        2     First Lien                           Y                         120
       16356719                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356720                                20090601            13.875             1.525                        0     First Lien                           Y                         120
       16356721                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356722                                20130501            12.625             1.395                        2     First Lien                           Y                         120
       16356723                                20130401            12.125             1.395                        2     First Lien                           Y                         120
       16356724                                20130501            13.625             1.875                        2     First Lien                           Y                         120
       16356683                                20130401            12.125             1.295                        2     First Lien                           Y                         120
       16356684                                20130501            13.375             1.875                        2     First Lien                           Y                         120
       16356685                                20130401              12.5             1.425                        2     First Lien                           Y                         120
       16356686                                20110401                13             1.395                        2     First Lien                           Y                         120
       16356687                                20160401              13.5             1.295                        2     First Lien                           Y                         120
       16356688                                20110601             13.75             1.295                        2     First Lien                           Y                         120
       16356689                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356690                                20130401             12.25             1.395                        2     First Lien                           Y                         120
       16356691                                20130501            12.125             1.875                        2     First Lien                           Y                         120
       16356692                                20130401            12.875             1.875                        2     First Lien                           Y                         120
       16356693                                20130501              12.5             1.295                        2     First Lien                           Y                         120
       16356694                                20130401            13.125             1.615                        2     First Lien                           Y                         120
       16356695                                20160501            13.625             1.295                        2     First Lien                           Y                         120
       16356696                                20130401              13.5             1.395                        2     First Lien                           Y                         120
       16356697                                20130401            11.875             1.295                        2     First Lien                           Y                         120
       16356698                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356699                                20130401            12.875             1.395                        2     First Lien                           Y                         120
       16356700                                20160401            13.125             1.395                        2     First Lien                           Y                         120
       16356701                                20110501            11.875             1.395                        2     First Lien                           Y                         120
       16356702                                20110401                13             1.875                        2     First Lien                           Y                         120
       16356703                                20110401                13             1.395                        2     First Lien                           Y                         120
       16356704                                20110401             12.25             1.295                        2     First Lien                           Y                         120
       16356705                                20110401             13.25             1.395                        2     First Lien                           Y                         120
       16356706                                20130701             12.75             1.395                        2     First Lien                           Y                         120
       16356707                                20110401             13.75             1.875                        0     First Lien                           Y                         120
       16356708                                20110701             12.25             1.875                        2     First Lien                           Y                         120
       16356709                                20130401                12             1.875                        2     First Lien                           Y                         120
       16356710                                20130401                13             1.875                        2     First Lien                           Y                         120
       16356711                                20130401              13.5             1.395                        2     First Lien                           Y                         120
       16356712                                20110501              13.5             1.395                        2     First Lien                           Y                         120
       16356641                                20130401            13.375             1.195                        2     First Lien                           Y                         120
       16356642                                20160401              12.5             1.295                        2     First Lien                           Y                         120
       16356643                                20130401             12.25             1.875                        2     First Lien                           Y                         120
       16356644                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356645                                20090501            12.125             1.295                        2     First Lien                           Y                         120
       16356646                                20130401                12             1.875                        2     First Lien                           Y                         120
       16356647                                20110401            13.375             1.875                        2     First Lien                           Y                         120
       16356648                                20130401            12.875             1.235                        2     First Lien                           Y                         120
       16356649                                20110401            13.375             1.395                        2     First Lien                           Y                         120
       16356650                                20110401                13             1.235                        2     First Lien                           Y                         120
       16356651                                20130401                12             1.395                        2     First Lien                           Y                         120
       16356652                                20130401              13.5             1.875                        2     First Lien                           Y                         120
       16356653                                20110401             13.25             1.295                        2     First Lien                           Y                         120
       16356654                                20110401                13             1.295                        0     First Lien                           Y                         120
       16356655                                20110501             12.25             1.875                        2     First Lien                           Y                         120
       16356656                                20130601              13.5             1.875                        2     First Lien                           Y                         120
       16356657                                20130401            12.125             1.395                        2     First Lien                           Y                         120
       16356658                                20130401                13             1.875                        2     First Lien                           Y                         120
       16356659                                20130401                13             1.395                        2     First Lien                           Y                         120
       16356660                                20130401            12.875             1.395                        2     First Lien                           Y                         120
       16356661                                20130501            12.125             1.395                        2     First Lien                           Y                         120
       16356662                                20130401             12.25             1.875                        2     First Lien                           Y                         120
       16356663                                20160501              12.5             1.395                        2     First Lien                           Y                         120
       16356664                                20130401            12.875             1.875                        2     First Lien                           Y                         120
       16356665                                20110501            13.625             1.525                        2     First Lien                           Y                         120
       16356666                                20130501                13             1.295                        2     First Lien                           Y                         120
       16356667                                20130401              12.5             1.395                        2     First Lien                           Y                         120
       16356668                                20130401            12.625             1.875                        2     First Lien                           Y                         120
       16356670                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356671                                20130401             13.25             1.395                        2     First Lien                           Y                         120
       16356672                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356673                                20090601            12.875             1.295                        2     First Lien                           Y                         120
       16356674                                20160501            12.875             1.875                        2     First Lien                           Y                         120
       16356675                                20130401              13.5             1.875                        2     First Lien                           Y                         120
       16356676                                20130401            12.875             1.295                        2     First Lien                           Y                         120
       16356677                                20130401                13             1.395                        2     First Lien                           Y                         120
       16356678                                20090601            14.375             1.295                        0     First Lien                           Y                         120
       16356679                                20110401            12.125             1.875                        2     First Lien                           Y                         120
       16356680                                20110401             13.25             1.875                        2     First Lien                           Y                         120
       16356681                                20130401             12.25             1.295                        2     First Lien                           Y                         120
       16356682                                20130401                13             1.875                        0     First Lien                           Y                         120
       16356474                                20160101            11.875             1.875                        2     First Lien                           Y                         120
       16356475                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356476                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356477                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356478                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356479                                20110101                12             1.875                        0     First Lien                           Y                         120
       16356480                                20110101             11.75             1.875                        2     First Lien                           Y                         120
       16356481                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356482                                20130101             12.25             1.875                        2     First Lien                           Y                         120
       16356483                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356484                                20130101                12             1.875                        2     First Lien                           Y                         120
       16356485                                20160101                12             1.875                        0     First Lien                           Y                         120
       16356486                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356487                                20160101                13             1.875                        0     First Lien                           Y                         120
       16356488                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356489                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356490                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356491                                20160101            11.875             1.875                        2     First Lien                           Y                         120
       16356492                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356493                                20130101            12.125             1.875                        0     First Lien                           Y                         120
       16356494                                20130401             13.25             1.875                        2     First Lien                           Y                         120
       16356495                                20110101            11.875             1.395                        2     First Lien                           Y                         120
       16356625                                20130401             12.75             1.875                        2     First Lien                           Y                         120
       16356626                                20130401              12.5             1.395                        2     First Lien                           Y                         120
       16356627                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356628                                20130401             13.25             1.395                        2     First Lien                           Y                         120
       16356629                                20130401            13.375             1.295                        2     First Lien                           Y                         120
       16356630                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356631                                20130401             12.25             1.395                        2     First Lien                           Y                         120
       16356632                                20160501             13.25             1.875                        2     First Lien                           Y                         120
       16356633                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16356634                                20130401             13.25             1.195                        2     First Lien                           Y                         120
       16356635                                20110401                12             1.295                        2     First Lien                           Y                         120
       16356636                                20110401            13.375             1.875                        2     First Lien                           Y                         120
       16356637                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16356638                                20130401                12             1.295                        2     First Lien                           Y                         120
       16356639                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356640                                20130401                13             1.395                        2     First Lien                           Y                         120
       16356496                                20090101                13             1.525                        0     First Lien                           Y                         120
       16356497                                20110101            12.125             1.875                        2     First Lien                           Y                         120
       16356498                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356499                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356500                                20130101             12.75             1.395                        2     First Lien                           Y                         120
       16356501                                20110101             11.75             1.395                        0     First Lien                           Y                         120
       16356502                                20110101             11.75             1.875                        0     First Lien                           Y                         120
       16356503                                20130101            12.625             1.875                        2     First Lien                           Y                         120
       16356504                                20090101              12.5             1.875                        2     First Lien                           Y                         120
       16356505                                20160101              12.5             1.875                        0     First Lien                           Y                         120
       16356506                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356507                                20130101                13             1.875                        2     First Lien                           Y                         120
       16356508                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356509                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356510                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356511                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16356512                                20110101                13             1.395                        0     First Lien                           Y                         120
       16356513                                20090101            12.625             1.875                        2     First Lien                           Y                         120
       16356514                                20130701                12             1.875                        2     First Lien                           Y                         120
       16356515                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356516                                20110101            11.875             1.875                        0     First Lien                           Y                         120
       16356517                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356518                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356519                                20110401             13.25             1.875                        2     First Lien                           Y                         120
       16356520                                20130201                13             1.395                        0     First Lien                           Y                         120
       16356521                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356522                                20130501            12.625             1.875                        2     First Lien                           Y                         120
       16356523                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356524                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356525                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356527                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356528                                20110501            12.625             1.395                        2     First Lien                           Y                         120
       16356529                                20110201            14.125             1.395                        0     First Lien                           Y                         120
       16356530                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356531                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356532                                20130401            12.625             1.875                        2     First Lien                           Y                         120
       16356533                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356534                                20130301                13             1.875                        0     First Lien                           Y                         120
       16356535                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356536                                20130201             12.25             1.875                        0     First Lien                           Y                         120
       16356537                                20110201                12             1.875                        0     First Lien                           Y                         120
       16356538                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356539                                20130501              13.5             1.875                        2     First Lien                           Y                         120
       16356541                                20130501            13.625             1.395                        2     First Lien                           Y                         120
       16356542                                20130501              13.5             1.295                        2     First Lien                           Y                         120
       16356543                                20130601            13.875             1.295                        2     First Lien                           Y                         120
       16356544                                20090201                13             1.235                        0     First Lien                           Y                         120
       16356545                                20130501                14             1.875                        2     First Lien                           Y                         120
       16356546                                20130401            13.375             1.365                        2     First Lien                           Y                         120
       16356547                                20110601             13.75             1.295                        2     First Lien                           Y                         120
       16356548                                20130501             13.25             1.295                        2     First Lien                           Y                         120
       16356549                                20110201                13             1.295                        0     First Lien                           Y                         120
       16356550                                20110601              13.5             1.395                        2     First Lien                           Y                         120
       16356551                                20090601                13             1.395                        0     First Lien                           Y                         120
       16356552                                20130401             13.25             1.875                        2     First Lien                           Y                         120
       16356553                                20110401            13.375             1.395                        2     First Lien                           Y                         120
       16356554                                20090401             12.25             1.395                        2     First Lien                           Y                         120
       16356555                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16356556                                20110601                13             1.395                        2     First Lien                           Y                         120
       16356558                                20110701             12.75             1.875                        2     First Lien                           Y                         120
       16356559                                20130401                12             1.875                        2     First Lien                           Y                         120
       16356560                                20130501            13.625             1.875                        2     First Lien                           Y                         120
       16356561                                20130601              12.5             1.395                        2     First Lien                           Y                         120
       16356562                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16356563                                20130601             13.75             1.295                        2     First Lien                           Y                         120
       16356564                                20130401            13.125             1.395                        2     First Lien                           Y                         120
       16356565                                20130401             12.75             1.395                        2     First Lien                           Y                         120
       16356566                                20130601             13.75             1.395                        2     First Lien                           Y                         120
       16356567                                20130501            12.875             1.295                        2     First Lien                           Y                         120
       16356568                                20130401            12.125             1.395                        2     First Lien                           Y                         120
       16356569                                20110501            12.875             1.875                        2     First Lien                           Y                         120
       16356570                                20130401            12.875             1.295                        2     First Lien                           Y                         120
       16356571                                20110601            13.625             1.395                        2     First Lien                           Y                         120
       16356572                                20110601             13.75             1.395                        2     First Lien                           Y                         120
       16356573                                20130401                12             1.295                        2     First Lien                           Y                         120
       16356574                                20110601             13.75             1.875                        2     First Lien                           Y                         120
       16356575                                20130501            13.375             1.295                        2     First Lien                           Y                         120
       16356576                                20130501            12.375             1.395                        2     First Lien                           Y                         120
       16356577                                20130501            13.625             1.875                        2     First Lien                           Y                         120
       16356578                                20130401            12.125             1.395                        2     First Lien                           Y                         120
       16356579                                20110401             11.75             1.875                        2     First Lien                           Y                         120
       16356580                                20130401             13.25             1.875                        2     First Lien                           Y                         120
       16356581                                20130501             12.75             1.395                        2     First Lien                           Y                         120
       16356582                                20090501            11.875             1.875                        2     First Lien                           Y                         120
       16356583                                20130501            13.375             1.875                        2     First Lien                           Y                         120
       16356584                                20110501            13.125             1.395                        2     First Lien                           Y                         120
       16356585                                20110401                13             1.515                        2     First Lien                           Y                         120
       16356586                                20110601             13.25             1.395                        2     First Lien                           Y                         120
       16356587                                20110401             13.25             1.295                        2     First Lien                           Y                         120
       16356588                                20130601             13.25             1.295                        2     First Lien                           Y                         120
       16356589                                20090401            12.125             1.395                        2     First Lien                           Y                         120
       16356590                                20160601            12.375             1.875                        2     First Lien                           Y                         120
       16356591                                20110401             12.75             1.875                        2     First Lien                           Y                         120
       16356592                                20110501             13.75             1.395                        0     First Lien                           Y                         120
       16356593                                20130401            12.375             1.875                        2     First Lien                           Y                         120
       16356594                                20130401             12.75             1.875                        2     First Lien                           Y                         120
       16356595                                20130501            13.625             1.395                        2     First Lien                           Y                         120
       16356596                                20130401             13.25             1.295                        2     First Lien                           Y                         120
       16356597                                20130401             11.75             1.425                        2     First Lien                           Y                         120
       16356598                                20130401                12             1.875                        2     First Lien                           Y                         120
       16356599                                20160401             12.75             1.875                        2     First Lien                           Y                         120
       16356600                                20130501                12             1.395                        2     First Lien                           Y                         120
       16356601                                20130401            12.875             1.875                        2     First Lien                           Y                         120
       16356602                                20130601             12.25             1.395                        2     First Lien                           Y                         120
       16356603                                20130501            13.125             1.875                        2     First Lien                           Y                         120
       16356604                                20090401            11.875             1.295                        2     First Lien                           Y                         120
       16356605                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16356606                                20130601            12.875             1.395                        2     First Lien                           Y                         120
       16356607                                20130601                13             1.525                        2     First Lien                           Y                         120
       16356608                                20110701                12             1.395                        2     First Lien                           Y                         120
       16356609                                20130401             13.25             1.875                        2     First Lien                           Y                         120
       16356610                                20130401              13.5             1.395                        2     First Lien                           Y                         120
       16356611                                20130601            12.375             1.295                        2     First Lien                           Y                         120
       16356612                                20130601             13.25             1.875                        2     First Lien                           Y                         120
       16356613                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16356614                                20130401             13.25             1.395                        2     First Lien                           Y                         120
       16356615                                20130601             12.75             1.395                        2     First Lien                           Y                         120
       16356616                                20130401                13             1.875                        2     First Lien                           Y                         120
       16356617                                20130601             12.75             1.525                        2     First Lien                           Y                         120
       16356618                                20160401            12.875             1.875                        2     First Lien                           Y                         120
       16356619                                20130401              13.5             1.875                        2     First Lien                           Y                         120
       16356620                                20130401            13.375             1.395                        2     First Lien                           Y                         120
       16356621                                20130401             13.25             1.295                        2     First Lien                           Y                         120
       16356622                                20130401            12.875             1.395                        2     First Lien                           Y                         120
       16356623                                20130501            12.125             1.525                        2     First Lien                           Y                         120
       16356624                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356253                                20130601            12.625             1.295                        2     First Lien                           Y                         120
       16356254                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356256                                20130501                13             1.875                        0     First Lien                           Y                         120
       16356257                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356258                                20130701            12.875             1.875                        2     First Lien                           Y                         120
       16356260                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356261                                20110601            12.125             1.875                        2     First Lien                           Y                         120
       16356262                                20130701                12             1.875                        2     First Lien                           Y                         120
       16356263                                20110701            12.875             1.875                        0     First Lien                           Y                         120
       16356264                                20130601            13.375             1.875                        0     First Lien                           Y                         120
       16356265                                20110401                13             1.875                        0     First Lien                           Y                         120
       16356266                                20110501                13             1.875                        2     First Lien                           Y                         120
       16356267                                20151101                13             1.395                        0     First Lien                           Y                         120
       16356268                                20110401            11.625             1.875                        2     First Lien                           Y                         120
       16356269                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356270                                20110401                13             1.875                        0     First Lien                           Y                         120
       16356271                                20130401            12.875             1.875                        2     First Lien                           Y                         120
       16356272                                20110401            11.375             1.395                        2     First Lien                           Y                         120
       16356273                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356274                                20110601                13             1.875                        2     First Lien                           Y                         120
       16356275                                20090601            12.625             1.395                        2     First Lien                           Y                         120
       16356276                                20110501            11.625             1.875                        2     First Lien                           Y                         120
       16356277                                20130501            12.875             1.875                        2     First Lien                           Y                         120
       16356278                                20130501              12.5             1.875                        2     First Lien                           Y                         120
       16356279                                20110101                13             1.525                        0     First Lien                           Y                         120
       16356280                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356281                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356282                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356283                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356284                                20130701            12.875             1.875                        2     First Lien                           Y                         120
       16356285                                20130601            13.875             1.875                        2     First Lien                           Y                         120
       16356286                                20110501            12.875             1.365                        2     First Lien                           Y                         120
       16356287                                20101201                13             1.395                        0     First Lien                           Y                         120
       16356288                                20100901                13             1.875                        0     First Lien                           Y                         120
       16356289                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356290                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356291                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356292                                20101201              13.5             1.875                        0     First Lien                           Y                         120
       16356293                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356294                                20081001                13             1.875                        0     First Lien                           Y                         120
       16356222                                20130101             12.25             1.875                        2     First Lien                           Y                         120
       16356223                                20160101            12.625             1.875                        2     First Lien                           Y                         120
       16356224                                20130401            12.125             1.875                        2     First Lien                           Y                         120
       16356225                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356226                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356227                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356228                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16356229                                20130201                13             1.395                        0     First Lien                           Y                         120
       16356230                                20130401            12.125             1.875                        2     First Lien                           Y                         120
       16356231                                20110101            13.625             1.875                        0     First Lien                           Y                         120
       16356232                                20081201                13             1.875                        0     First Lien                           Y                         120
       16356234                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356235                                20090401            12.375             1.875                        2     First Lien                           Y                         120
       16356236                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356237                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356238                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356239                                20110501            11.875             1.295                        2     First Lien                           Y                         120
       16356240                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356241                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356242                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356243                                20130501             12.25             1.875                        2     First Lien                           Y                         120
       16356244                                20110701                12             1.875                        2     First Lien                           Y                         120
       16356246                                20090601            12.625             1.875                        2     First Lien                           Y                         120
       16356250                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356251                                20090701             12.25             1.875                        0     First Lien                           Y                         120
       16356252                                20110501                12             1.875                        2     First Lien                           Y                         120
       16356373                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356374                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356375                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356376                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16356377                                20110101            11.875             1.395                        0     First Lien                           Y                         120
       16356378                                20110301             11.75             1.875                        0     First Lien                           Y                         120
       16356379                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356380                                20110501            11.875             1.875                        2     First Lien                           Y                         120
       16356381                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356382                                20130601                13             1.875                        2     First Lien                           Y                         120
       16356383                                20130101                13             1.235                        0     First Lien                           Y                         120
       16356384                                20130101            12.125             1.875                        2     First Lien                           Y                         120
       16356385                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356386                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356387                                20130101            12.125             1.875                        0     First Lien                           Y                         120
       16356389                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356390                                20110401                13             1.875                        0     First Lien                           Y                         120
       16356391                                20110101            12.125             1.875                        0     First Lien                           Y                         120
       16356392                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356393                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356394                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356395                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356396                                20160201                13             1.875                        0     First Lien                           Y                         120
       16356397                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356398                                20130701                12             1.875                        2     First Lien                           Y                         120
       16356399                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356400                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356401                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356402                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356403                                20130601             12.25             1.875                        2     First Lien                           Y                         120
       16356404                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356405                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356406                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356407                                20160101                13             1.875                        0     First Lien                           Y                         120
       16356408                                20130601             12.75             1.875                        2     First Lien                           Y                         120
       16356409                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356410                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356411                                20110101                12             1.875                        0     First Lien                           Y                         120
       16356412                                20130501                13             1.875                        0     First Lien                           Y                         120
       16356413                                20160201                13             1.425                        0     First Lien                           Y                         120
       16356414                                20110101             13.25             1.875                        0     First Lien                           Y                         120
       16356415                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356416                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356417                                20110101            11.875             1.875                        0     First Lien                           Y                         120
       16356419                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356420                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356421                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356422                                20130601             13.25             1.875                        0     First Lien                           Y                         120
       16356423                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356424                                20110201             13.75             1.875                        0     First Lien                           Y                         120
       16356425                                20130101            12.125             1.875                        0     First Lien                           Y                         120
       16356426                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356427                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356428                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356429                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356430                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356431                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356432                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356433                                20160101             12.25             1.875                        2     First Lien                           Y                         120
       16356434                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356435                                20110101                13             1.395                        0     First Lien                           Y                         120
       16356436                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356437                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356438                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356439                                20160101                13             1.875                        0     First Lien                           Y                         120
       16356440                                20110101             11.75             1.875                        0     First Lien                           Y                         120
       16356441                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356442                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356443                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356444                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356445                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356446                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356447                                20160101                13             1.875                        0     First Lien                           Y                         120
       16356448                                20130101            12.625             1.875                        2     First Lien                           Y                         120
       16356449                                20130101            13.125             1.875                        0     First Lien                           Y                         120
       16356450                                20110101            11.875             1.875                        0     First Lien                           Y                         120
       16356451                                20110101             11.75             1.875                        0     First Lien                           Y                         120
       16356452                                20090101                13             1.875                        0     First Lien                           Y                         120
       16356453                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356454                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356455                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356456                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356457                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356458                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356459                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356460                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356461                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356462                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356463                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356464                                20090101            11.875             1.875                        0     First Lien                           Y                         120
       16356465                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356466                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356467                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356468                                20110101            11.875             1.395                        2     First Lien                           Y                         120
       16356469                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356470                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356471                                20130101             12.75             1.875                        2     First Lien                           Y                         120
       16356472                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356473                                20110201                12             1.875                        0     First Lien                           Y                         120
       16356327                                20130401                12             1.875                        0     First Lien                           Y                         120
       16356328                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356330                                20081201                13             1.875                        0     First Lien                           Y                         120
       16356331                                20110501             13.25             1.875                        2     First Lien                           Y                         120
       16356332                                20101201                13             1.525                        0     First Lien                           Y                         120
       16356333                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356334                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356335                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356336                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356337                                20151101                13             1.875                        0     First Lien                           Y                         120
       16356338                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356339                                20081201            11.625             1.875                        0     First Lien                           Y                         120
       16356340                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356357                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356359                                20110401                12             1.875                        2     First Lien                           Y                         120
       16356360                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356361                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356362                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356363                                20130201                13             1.875                        0     First Lien                           Y                         120
       16356364                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356365                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356366                                20110101            11.875             1.875                        0     First Lien                           Y                         120
       16356367                                20110101            11.875             1.875                        0     First Lien                           Y                         120
       16356368                                20151201                13             1.875                        0     First Lien                           Y                         120
       16356369                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356371                                20130101                13             1.295                        0     First Lien                           Y                         120
       16356372                                20110101                12             1.395                        2     First Lien                           Y                         120
       16356343                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356344                                20101201            11.875             1.875                        0     First Lien                           Y                         120
       16356345                                20160201                13             1.875                        0     First Lien                           Y                         120
       16356346                                20130401            13.375             1.875                        2     First Lien                           Y                         120
       16356347                                20081201                13             1.295                        0     First Lien                           Y                         120
       16356348                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356349                                20151201            11.875             1.875                        0     First Lien                           Y                         120
       16356351                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356352                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356353                                20130601                12             1.875                        2     First Lien                           Y                         120
       16356354                                20130401            12.125             1.875                        0     First Lien                           Y                         120
       16356355                                20081201              11.5             1.395                        0     First Lien                           Y                         120
       16356356                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356295                                20130101                13             1.875                        0     First Lien                           Y                         120
       16356296                                20081201                13             1.875                        0     First Lien                           Y                         120
       16356297                                20130601                14             1.875                        2     First Lien                           Y                         120
       16356298                                20101201                13             1.365                        0     First Lien                           Y                         120
       16356299                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356300                                20090201                13             1.875                        0     First Lien                           Y                         120
       16356301                                20151101                13             1.875                        0     First Lien                           Y                         120
       16356302                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356303                                20110601              13.5             1.875                        0     First Lien                           Y                         120
       16356304                                20130701             12.25             1.875                        2     First Lien                           Y                         120
       16356305                                20081101              11.5             1.875                        0     First Lien                           Y                         120
       16356306                                20121201                13             1.875                        0     First Lien                           Y                         120
       16356307                                20081201                13             1.875                        0     First Lien                           Y                         120
       16356308                                20110101                13             1.875                        0     First Lien                           Y                         120
       16356309                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356310                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356311                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356312                                20130501                13             1.875                        2     First Lien                           Y                         120
       16356313                                20110201                13             1.425                        0     First Lien                           Y                         120
       16356314                                20110201                13             1.875                        0     First Lien                           Y                         120
       16356315                                20101201            11.875             1.395                        0     First Lien                           Y                         120
       16356317                                20081201                13             1.875                        0     First Lien                           Y                         120
       16356319                                20130201            12.125             1.425                        0     First Lien                           Y                         120
       16356320                                20101201             11.75             1.875                        0     First Lien                           Y                         120
       16356321                                20101201            14.125             1.875                        0     First Lien                           Y                         120
       16356322                                20081101                13             1.875                        0     First Lien                           Y                         120
       16356323                                20151101                13             1.875                        0     First Lien                           Y                         120
       16356324                                20101201                13             1.875                        0     First Lien                           Y                         120
       16356325                                20110501            12.875             1.875                        2     First Lien                           Y                         120
       16356326                                20151101                13             1.425                        0     First Lien                           Y                         120
       16357495                                20110501              13.5             1.875                        2     First Lien                           Y                         120
       16357496                                20160601              12.5             1.235                        2     First Lien                           Y                         120
       16357497                                20130501             13.25             1.875                        2     First Lien                           Y                         120
       16357498                                20130501            13.375             1.395                        2     First Lien                           Y                         120
       16357445                                20130401              12.5             1.395                        2     First Lien                           Y                         120
       16357446                                20160501                12             1.295                        2     First Lien                           Y                         120
       16357447                                20130401             13.25             1.875                        2     First Lien                           Y                         120
       16357448                                20130401            11.875             1.395                        2     First Lien                           Y                         120
       16357449                                20160401            13.125             1.875                        2     First Lien                           Y                         120
       16357450                                20130501             12.25             1.395                        2     First Lien                           Y                         120
       16357451                                20160501            13.375             1.875                        2     First Lien                           Y                         120
       16357452                                20130501            12.875             1.295                        2     First Lien                           Y                         120
       16357453                                20130401            12.125             1.875                        2     First Lien                           Y                         120
       16357454                                20130401            13.125             1.875                        2     First Lien                           Y                         120
       16357455                                20130401             12.75             1.395                        2     First Lien                           Y                         120
       16357456                                20130401             13.25             1.615                        2     First Lien                           Y                         120
       16357457                                20130401              12.5             1.425                        2     First Lien                           Y                         120
       16357458                                20160401             13.25             1.395                        2     First Lien                           Y                         120
       16357459                                20160701                12             1.395                        2     First Lien                           Y                         120
       16357460                                20130501            13.625             1.875                        2     First Lien                           Y                         120
       16357461                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16357462                                20130501            13.125             1.395                        2     First Lien                           Y                         120
       16357463                                20130501                12             1.395                        2     First Lien                           Y                         120
       16357464                                20130501            13.375             1.875                        2     First Lien                           Y                         120
       16357465                                20130601              13.5             1.395                        2     First Lien                           Y                         120
       16357466                                20130501            12.875             1.395                        2     First Lien                           Y                         120
       16357467                                20130501                12             1.365                        2     First Lien                           Y                         120
       16357468                                20130601                13             1.875                        2     First Lien                           Y                         120
       16357469                                20130401            13.125             1.295                        2     First Lien                           Y                         120
       16357470                                20110501              13.5             1.395                        2     First Lien                           Y                         120
       16357471                                20160401            13.125             1.295                        2     First Lien                           Y                         120
       16357472                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16357473                                20160401            12.625             1.295                        2     First Lien                           Y                         120
       16357474                                20130501             11.75             1.515                        2     First Lien                           Y                         120
       16357475                                20160401                13             1.875                        2     First Lien                           Y                         120
       16357476                                20130701                12             1.425                        2     First Lien                           Y                         120
       16357477                                20090501            12.625             1.875                        2     First Lien                           Y                         120
       16357478                                20160601             13.25             1.875                        2     First Lien                           Y                         120
       16357479                                20130501              12.5             1.395                        2     First Lien                           Y                         120
       16357480                                20130501              13.5             1.395                        2     First Lien                           Y                         120
       16357481                                20130601             13.25             1.295                        2     First Lien                           Y                         120
       16357482                                20160501                13             1.295                        2     First Lien                           Y                         120
       16357483                                20110501              13.5             1.395                        2     First Lien                           Y                         120
       16357484                                20130601             13.25             1.295                        2     First Lien                           Y                         120
       16357485                                20110601            12.875             1.395                        2     First Lien                           Y                         120
       16357486                                20130501            13.375             1.875                        2     First Lien                           Y                         120
       16357487                                20110501            13.125             1.295                        2     First Lien                           Y                         120
       16357488                                20130501            13.125             1.295                        2     First Lien                           Y                         120
       16357489                                20130501                13             1.295                        0     First Lien                           Y                         120
       16357490                                20160501                13             1.875                        2     First Lien                           Y                         120
       16357491                                20130501              11.5             1.395                        2     First Lien                           Y                         120
       16357492                                20160501            13.625             1.875                        2     First Lien                           Y                         120
       16357493                                20130501            12.625             1.395                        2     First Lien                           Y                         120
       16357494                                20130501            12.625             1.875                        2     First Lien                           Y                         120
       16357358                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357359                                20110701                12             1.875                        2     First Lien                           Y                         120
       16357360                                20110701            12.625             1.875                        2     First Lien                           Y                         120
       16357361                                20110701              13.5             1.875                        0     First Lien                           Y                         120
       16357362                                20160701                12             1.875                        2     First Lien                           Y                         120
       16357363                                20110101                13             1.875                        0     First Lien                           Y                         120
       16357364                                20110601            12.125             1.875                        2     First Lien                           Y                         120
       16357365                                20130601            11.875             1.875                        2     First Lien                           Y                         120
       16357366                                20160101                13             1.875                        0     First Lien                           Y                         120
       16357367                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357368                                20110101                13             1.875                        0     First Lien                           Y                         120
       16357369                                20130401            12.375             1.875                        2     First Lien                           Y                         120
       16357370                                20110501                13             1.875                        0     First Lien                           Y                         120
       16357371                                20130201                13             1.875                        0     First Lien                           Y                         120
       16357372                                20130401                13             1.875                        0     First Lien                           Y                         120
       16357373                                20130201                13             1.395                        0     First Lien                           Y                         120
       16357374                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357375                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357376                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357377                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357378                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357379                                20101201             11.75             1.875                        0     First Lien                           Y                         120
       16357380                                20151101                13             1.875                        0     First Lien                           Y                         120
       16357381                                20081101            11.875             1.875                        0     First Lien                           Y                         120
       16357382                                20101201            11.875             1.875                        0     First Lien                           Y                         120
       16357383                                20101201            11.875             1.875                        0     First Lien                           Y                         120
       16357384                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357385                                20081201                13             1.875                        0     First Lien                           Y                         120
       16357386                                20130201                13             1.875                        0     First Lien                           Y                         120
       16357387                                20130401                12             1.875                        2     First Lien                           Y                         120
       16357388                                20130401            12.125             1.875                        2     First Lien                           Y                         120
       16357389                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357390                                20151201            11.625             1.875                        0     First Lien                           Y                         120
       16357391                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357392                                20151201                13             1.875                        0     First Lien                           Y                         120
       16357393                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357394                                20151201                13             1.295                        0     First Lien                           Y                         120
       16357395                                20121201             12.75             1.875                        0     First Lien                           Y                         120
       16357396                                20101201                13             1.295                        0     First Lien                           Y                         120
       16357397                                20081201                13             1.395                        0     First Lien                           Y                         120
       16357398                                20121201                13             1.875                        0     First Lien                           Y                         120
       16357400                                20110401            12.625             1.875                        2     First Lien                           Y                         120
       16357401                                20160201                13             1.515                        0     First Lien                           Y                         120
       16357402                                20081201              11.5             1.875                        0     First Lien                           Y                         120
       16357403                                20130101                13             1.875                        0     First Lien                           Y                         120
       16357404                                20110501                13             1.875                        0     First Lien                           Y                         120
       16357405                                20160201                13             1.875                        0     First Lien                           Y                         120
       16357406                                20110201                13             1.875                        0     First Lien                           Y                         120
       16357407                                20130101                13             1.875                        0     First Lien                           Y                         120
       16357408                                20110201            11.875             1.875                        0     First Lien                           Y                         120
       16357409                                20130601            12.125             1.875                        2     First Lien                           Y                         120
       16357410                                20110101                13             1.875                        0     First Lien                           Y                         120
       16357411                                20130101            12.125             1.875                        0     First Lien                           Y                         120
       16357412                                20130101                13             1.875                        0     First Lien                           Y                         120
       16357413                                20130101                13             1.875                        0     First Lien                           Y                         120
       16357414                                20090101                13             1.875                        0     First Lien                           Y                         120
       16357415                                20110101                13             1.875                        0     First Lien                           Y                         120
       16357416                                20130201                13             1.875                        0     First Lien                           Y                         120
       16357417                                20110101                12             1.875                        0     First Lien                           Y                         120
       16357418                                20160101                13             1.875                        0     First Lien                           Y                         120
       16357419                                20110101                13             1.875                        0     First Lien                           Y                         120
       16357420                                20090101                12             1.875                        2     First Lien                           Y                         120
       16357421                                20110201                13             1.875                        0     First Lien                           Y                         120
       16357422                                20160101                13             1.875                        0     First Lien                           Y                         120
       16357423                                20130201                13             1.875                        0     First Lien                           Y                         120
       16357424                                20090201                13             1.875                        0     First Lien                           Y                         120
       16357425                                20130201                13             1.875                        0     First Lien                           Y                         120
       16357426                                20110201                13             1.875                        0     First Lien                           Y                         120
       16357427                                20110401             12.75             1.875                        2     First Lien                           Y                         120
       16357428                                20110401             12.75             1.295                        2     First Lien                           Y                         120
       16357430                                20110501             13.75             1.395                        2     First Lien                           Y                         120
       16357431                                20130601            13.375             1.195                        2     First Lien                           Y                         120
       16357432                                20130501             13.75             1.395                        2     First Lien                           Y                         120
       16357433                                20130501            12.625             1.395                        2     First Lien                           Y                         120
       16357434                                20130401             13.25             1.395                        2     First Lien                           Y                         120
       16357435                                20110401             13.25             1.295                        2     First Lien                           Y                         120
       16357436                                20160401            12.375             1.395                        2     First Lien                           Y                         120
       16357437                                20160601              12.5             1.875                        2     First Lien                           Y                         120
       16357438                                20130401                12             1.875                        2     First Lien                           Y                         120
       16357439                                20110401             13.75             1.875                        0     First Lien                           Y                         120
       16357440                                20130401            12.375             1.875                        2     First Lien                           Y                         120
       16357441                                20110401            13.125             1.875                        0     First Lien                           Y                         120
       16357442                                20160401             13.25             1.875                        2     First Lien                           Y                         120
       16357443                                20160401            12.875             1.395                        2     First Lien                           Y                         120
       16357444                                20130401             13.25             1.395                        2     First Lien                           Y                         120
       16231295                                20110501            10.125             1.395                        2     First Lien                           Y                          60
       16231296                                20110301             11.75             1.875                        2     First Lien                           Y                          60
       16231297                                20110301            11.875             1.875                        2     First Lien                           Y                          60
       16231298                                20110301            10.875             1.875                        2     First Lien                           Y                          60
       16231299                                20110301            10.875             1.875                        2     First Lien                           Y                          60
       16231300                                20110301                11             1.875                        2     First Lien                           Y                          60
       16231301                                20110401            10.375             1.875                        2     First Lien                           Y                          60
       16231302                                20110401             9.875             1.875                        2     First Lien                           Y                          60
       16231303                                20110401             11.25             1.875                        2     First Lien                           Y                          60
       16231304                                20110501             11.75             1.875                        2     First Lien                           Y                          60
       16231305                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231306                                20110401               9.5             1.875                        2     First Lien                           Y                          60
       16231307                                20110501              11.5             1.875                        2     First Lien                           Y                          60
       16231308                                20110501            10.625             1.875                        2     First Lien                           Y                          60
       16231309                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231289                                20110501            11.625             1.875                        2     First Lien                           Y                          60
       16231290                                20110501                11             1.875                        2     First Lien                           Y                          60
       16231291                                20110301             10.75             1.875                        2     First Lien                           Y                          60
       16231292                                20110301                11             1.875                        2     First Lien                           Y                          60
       16231293                                20110301                11             1.875                        2     First Lien                           Y                          60
       16231294                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231254                                20110401            11.625             1.875                        2     First Lien                           Y                          60
       16231255                                20110401            10.875             1.875                        2     First Lien                           Y                          60
       16231256                                20110401            11.125             1.875                        2     First Lien                           Y                          60
       16231257                                20110401            10.625             1.875                        2     First Lien                           Y                          60
       16231258                                20110501             10.75             1.875                        2     First Lien                           Y                          60
       16231259                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231260                                20110501              11.5             1.875                        2     First Lien                           Y                          60
       16231261                                20110401                11             1.875                        2     First Lien                           Y                          60
       16231262                                20110401             11.25             1.875                        2     First Lien                           Y                          60
       16231264                                20110501             10.25             1.875                        2     First Lien                           Y                          60
       16231265                                20110301            10.875             1.875                        2     First Lien                           Y                          60
       16231266                                20110501             11.25             1.875                        2     First Lien                           Y                          60
       16231267                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231268                                20110301              10.5             1.875                        2     First Lien                           Y                          60
       16231269                                20110301            10.375             1.875                        2     First Lien                           Y                          60
       16231270                                20110301            10.375             1.875                        2     First Lien                           Y                          60
       16231271                                20110401             11.75             1.875                        2     First Lien                           Y                          60
       16231272                                20110401                11             1.875                        2     First Lien                           Y                          60
       16231273                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231274                                20110401                11             1.875                        2     First Lien                           Y                          60
       16231275                                20110501             10.25             1.875                        2     First Lien                           Y                          60
       16231276                                20110501            10.625             1.875                        2     First Lien                           Y                          60
       16231277                                20110301              11.5             1.875                        2     First Lien                           Y                          60
       16231278                                20110301             11.25             1.875                        2     First Lien                           Y                          60
       16231280                                20110501              11.5             1.875                        2     First Lien                           Y                          60
       16231281                                20110301            10.875             1.875                        2     First Lien                           Y                          60
       16231282                                20110401                11             1.875                        2     First Lien                           Y                          60
       16231283                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231284                                20110401            10.625             1.875                        2     First Lien                           Y                          60
       16231285                                20110301            10.625             1.875                        2     First Lien                           Y                          60
       16231286                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231287                                20110401             11.25             1.875                        2     First Lien                           Y                          60
       16231288                                20110501            11.375             1.875                        2     First Lien                           Y                          60
       16231228                                20110301             11.25             1.875                        2     First Lien                           Y                          60
       16231229                                20110301              11.5             1.875                        2     First Lien                           Y                          60
       16231230                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231231                                20110501                11             1.875                        2     First Lien                           Y                          60
       16231232                                20110501            10.875             1.875                        2     First Lien                           Y                          60
       16231233                                20110301             10.25             1.875                        2     First Lien                           Y                          60
       16231234                                20110301            11.125             1.875                        2     First Lien                           Y                          60
       16231235                                20110301              11.5             1.875                        2     First Lien                           Y                          60
       16231236                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231237                                20110401            10.875             1.875                        2     First Lien                           Y                          60
       16231238                                20110501              10.5             1.875                        2     First Lien                           Y                          60
       16231239                                20110401              11.5             1.875                        2     First Lien                           Y                          60
       16231240                                20110401            11.625             1.875                        2     First Lien                           Y                          60
       16231241                                20110401            11.375             1.875                        2     First Lien                           Y                          60
       16231242                                20110301             11.25             1.875                        2     First Lien                           Y                          60
       16231243                                20110401            10.125             1.875                        2     First Lien                           Y                          60
       16231244                                20110401            11.875             1.875                        2     First Lien                           Y                          60
       16231245                                20110501            11.375             1.875                        2     First Lien                           Y                          60
       16231246                                20110601             11.75             1.875                        2     First Lien                           Y                          60
       16231247                                20110301             11.25             1.875                        2     First Lien                           Y                          60
       16231248                                20110401                11             1.875                        2     First Lien                           Y                          60
       16231250                                20110401                10             1.875                        2     First Lien                           Y                          60
       16231252                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231253                                20110401            10.875             1.875                        2     First Lien                           Y                          60
       16231217                                20110101            11.375             1.875                        2     First Lien                           Y                         120
       16231218                                20110401            10.125             1.875                        2     First Lien                           Y                          60
       16231219                                20110501             10.75             1.875                        2     First Lien                           Y                          60
       16231220                                20110501              10.5             1.875                        2     First Lien                           Y                          60
       16231221                                20110301            10.875             1.875                        2     First Lien                           Y                          60
       16231222                                20110501            11.125             1.875                        2     First Lien                           Y                          60
       16231223                                20110401              10.5             1.875                        2     First Lien                           Y                          60
       16231224                                20110501              10.5             1.875                        2     First Lien                           Y                          60
       16231225                                20110501                11             1.875                        2     First Lien                           Y                          60
       16231226                                20110401              11.5             1.875                        2     First Lien                           Y                          60
       16231227                                20110501                11             1.875                        2     First Lien                           Y                          60
       16592923                                20110801              11.5             1.875                        2     First Lien                           N                           0
       16592924                                20110801                11             1.875                        2     First Lien                           N                           0
       16592925                                20110801                11             1.875                        2     First Lien                           N                           0
       16592926                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592927                                20110801             10.75             1.875                        2     First Lien                           Y                          60
       16592928                                20110801              11.5             1.875                        2     First Lien                           N                           0
       16592929                                20110801             11.75             2.375                        2     First Lien                           Y                          60
       16592930                                20110801              11.5             1.875                        2     First Lien                           Y                          60
       16592931                                20110901            11.125             1.875                        2     First Lien                           N                           0
       16592932                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592933                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592934                                20110801            10.875             1.875                        2     First Lien                           N                           0
       16592882                                20110801            11.125             1.875                        2     First Lien                           Y                          60
       16592883                                20110801             10.75             1.875                        2     First Lien                           N                           0
       16592884                                20110801             10.75             1.875                        2     First Lien                           Y                          60
       16592885                                20110801             10.75             1.875                        2     First Lien                           Y                          60
       16592886                                20110701            11.625             1.875                        2     First Lien                           N                           0
       16592887                                20110801            11.125             2.375                        2     First Lien                           N                           0
       16592888                                20110901              10.5             1.875                        2     First Lien                           Y                          60
       16592889                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592890                                20110801             10.25             1.875                        2     First Lien                           N                           0
       16592891                                20110801            10.625             1.875                        2     First Lien                           Y                          60
       16592892                                20110801              11.5             1.875                        2     First Lien                           Y                          60
       16592893                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592894                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592895                                20110801              11.5             1.875                        2     First Lien                           Y                          60
       16592896                                20110801             11.25             1.875                        2     First Lien                           N                           0
       16592897                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592898                                20110801            10.875             1.875                        2     First Lien                           Y                          60
       16592899                                20110901                11             1.875                        2     First Lien                           Y                          60
       16592900                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592901                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592902                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592903                                20110801              10.5             1.875                        2     First Lien                           Y                          60
       16592904                                20110801             10.75             1.875                        2     First Lien                           Y                          60
       16592905                                20110801            11.125             1.875                        2     First Lien                           Y                          60
       16592906                                20110801              11.5             1.875                        2     First Lien                           Y                          60
       16592907                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592908                                20110801             11.25             1.875                        2     First Lien                           N                           0
       16592909                                20110801            10.125             1.875                        2     First Lien                           Y                          60
       16592910                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592911                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592912                                20110801            11.625             1.875                        2     First Lien                           Y                          60
       16592913                                20110901            11.125             1.875                        2     First Lien                           Y                          60
       16592914                                20110901            11.375             1.875                        2     First Lien                           Y                          60
       16592916                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592917                                20110801            11.125             1.875                        2     First Lien                           N                           0
       16592918                                20110801            11.125             1.875                        2     First Lien                           N                           0
       16592919                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592920                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592921                                20110801                11             1.875                        2     First Lien                           N                           0
       16592922                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592935                                20110801             10.75             1.875                        2     First Lien                           Y                          60
       16592936                                20110901             11.25             1.875                        2     First Lien                           Y                          60
       16592937                                20110901                11             1.875                        2     First Lien                           Y                          60
       16592938                                20110801            11.125             1.875                        2     First Lien                           Y                          60
       16592939                                20110901            11.125             1.875                        2     First Lien                           Y                          60
       16592940                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592941                                20110801                11             1.875                        2     First Lien                           Y                          60
       16592942                                20110801            11.375             1.875                        2     First Lien                           Y                          60
       16592943                                20110801            11.875             1.875                        2     First Lien                           N                           0
       16592944                                20110801             11.75             1.875                        2     First Lien                           Y                          60
       16592945                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592946                                20110801            10.125             1.875                        2     First Lien                           Y                          60
       16592947                                20110801             11.25             1.875                        2     First Lien                           Y                          60
       16592948                                20110801                11             1.875                        2     First Lien                           N                           0
       16592949                                20110801              11.5             2.375                        2     First Lien                           Y                          60
       16592950                                20110901            10.875             1.875                        2     First Lien                           Y                          60
       16592951                                20110901            11.375             1.875                        2     First Lien                           Y                          60
       16232930                                20120301            10.375               1.5                        2     First Lien                           Y                         120
       16232931                                20100801              10.5               1.5                        2     First Lien                           Y                         120
       16232933                                20110201              10.5               1.5                        2     First Lien                           Y                         120
       16232934                                20160401                11             1.875                        2     First Lien                           N                           0
       16232935                                20090401              12.5             1.875                        2     First Lien                           Y                         120
       16232936                                20160501             11.25             1.875                        2     First Lien                           Y                         120
       16232937                                20110501            11.125             1.875                        2     First Lien                           Y                         120
       16242606                                20090301                13             1.875                        2     First Lien                           Y                         120
       16242617                                20090201            11.875               2.5                        2     First Lien                           Y                         120
       16242618                                20090201            12.125               2.5                        2     First Lien                           Y                         120
       16242620                                20090501            12.125               2.5                        2     First Lien                           Y                         120
       16242621                                20110201            11.375               2.5                        2     First Lien                           N                           0
       16242623                                20110201                11               2.5                        2     First Lien                           Y                         120
       16242625                                20110201            11.625               2.5                        2     First Lien                           Y                         120
       16242626                                20110301             11.25               2.5                        2     First Lien                           N                           0
       16242627                                20090301                12               2.5                        2     First Lien                           Y                         120
       16242629                                20110501            11.125               2.5                        2     First Lien                           Y                         120
       16242630                                20130201            10.625               2.5                        2     First Lien                           Y                         120
       16242634                                20110201             11.75               2.5                        2     First Lien                           Y                         120
       16242635                                20110401              11.5               2.5                        2     First Lien                           Y                         120
       16242636                                20110501            12.125               2.5                        2     First Lien                           Y                         120
       16242637                                20110401            11.125               2.5                        2     First Lien                           Y                         120
       16242638                                20090301                12               2.5                        2     First Lien                           Y                         120
       16242639                                20130201              11.5               2.5                        2     First Lien                           Y                         120
       16242641                                20130301            11.625               2.5                        2     First Lien                           Y                         120
       16242642                                20110401              11.5               2.5                        2     First Lien                           Y                         120
       16242643                                20090301             12.75               2.5                        2     First Lien                           Y                         120
       16242644                                20090501            12.375               2.5                        2     First Lien                           Y                         120
       16242645                                20110501             11.25               2.5                        2     First Lien                           N                           0
       16242646                                20130301             11.25               2.5                        2     First Lien                           Y                         120
       16242647                                20090301            11.625               2.5                        2     First Lien                           Y                         120
       16242648                                20110401             11.75               2.5                        2     First Lien                           Y                         120
       16242649                                20090201             11.75               2.5                        2     First Lien                           N                           0
       16242650                                20090301            12.375               2.5                        2     First Lien                           Y                         120
       16242653                                20090401             11.75               2.5                        2     First Lien                           N                           0
       16242545                                20110301             10.75               2.5                        2     First Lien                           Y                         120
       16242547                                20110301            11.375               2.5                        2     First Lien                           Y                         120
       16242548                                20090301             11.75               2.5                        2     First Lien                           Y                         120
       16242549                                20130301            10.625               2.5                        2     First Lien                           Y                         120
       16242550                                20090301            11.625               2.5                        2     First Lien                           N                           0
       16242552                                20090401             12.25               2.5                        2     First Lien                           Y                         120
       16242554                                20130501             10.75               2.5                        2     First Lien                           Y                         120
       16242555                                20090501             12.75               2.5                        2     First Lien                           N                           0
       16242556                                20090201            11.875               2.5                        2     First Lien                           N                           0
       16242557                                20110301            10.875               2.5                        2     First Lien                           Y                         120
       16242558                                20130301            10.875               2.5                        2     First Lien                           N                           0
       16242559                                20110401             10.75               2.5                        2     First Lien                           Y                         120
       16242560                                20110501            11.125               2.5                        2     First Lien                           N                           0
       16242561                                20110501            10.875               2.5                        2     First Lien                           N                           0
       16242562                                20110501            10.875               2.5                        2     First Lien                           Y                         120
       16242564                                20090101             12.75               2.5                        2     First Lien                           Y                         120
       16242569                                20090301             12.25               2.5                        2     First Lien                           Y                         120
       16242570                                20110301             10.25               2.5                        2     First Lien                           Y                         120
       16242571                                20130301            11.375               2.5                        2     First Lien                           Y                         120
       16242572                                20090401            12.125               2.5                        2     First Lien                           Y                         120
       16242574                                20090401            12.625               2.5                        2     First Lien                           Y                         120
       16242575                                20110501            10.875               2.5                        2     First Lien                           Y                          60
       16242576                                20090401            12.625               2.5                        2     First Lien                           N                           0
       16242578                                20090401              12.5               2.5                        2     First Lien                           N                           0
       16242579                                20090401             11.75               2.5                        2     First Lien                           N                           0
       16242583                                20090401            13.125               2.5                        2     First Lien                           Y                         120
       16242584                                20090401            12.875               2.5                        2     First Lien                           Y                         120
       16242585                                20130201              11.5               2.5                        2     First Lien                           Y                         120
       16242586                                20090201            12.125               2.5                        2     First Lien                           Y                         120
       16242587                                20090201             12.25               2.5                        2     First Lien                           Y                         120
       16242588                                20130501            11.375               2.5                        2     First Lien                           Y                         120
       16242589                                20130301            11.375               2.5                        2     First Lien                           Y                         120
       16242590                                20090401             12.75               2.5                        2     First Lien                           Y                         120
       16242591                                20110201              11.5               2.5                        2     First Lien                           Y                         120
       16242592                                20090201              12.5               2.5                        2     First Lien                           N                           0
       16242593                                20130301              11.5               2.5                        2     First Lien                           Y                         120
       16242595                                20110301            12.375               2.5                        2     First Lien                           Y                         120
       16242596                                20160501            11.625               2.5                        2     First Lien                           Y                          60
       16242597                                20130201              11.5               2.5                        2     First Lien                           N                           0
       16242599                                20130301             11.25               2.5                        2     First Lien                           Y                         120
       16242600                                20090501            12.375               2.5                        2     First Lien                           Y                         120
       16242603                                20110501            12.375               2.5                        2     First Lien                           Y                         120
       16242604                                20110501            11.625               2.5                        2     First Lien                           Y                         120
       16242605                                20110401             10.75               2.5                        2     First Lien                           Y                         120
       16242607                                20110201            11.125               2.5                        2     First Lien                           Y                         120
       16242608                                20090201            11.875               2.5                        2     First Lien                           Y                         120
       16242609                                20110501                11               2.5                        2     First Lien                           Y                         120
       16242610                                20110201            10.875               2.5                        2     First Lien                           Y                         120
       16242613                                20090401             12.25               2.5                        2     First Lien                           Y                         120
       16242614                                20110201              11.5               2.5                        2     First Lien                           Y                         120
       16242616                                20110401             10.75               2.5                        2     First Lien                           N                           0
       16242540                                20090201                12               2.5                        2     First Lien                           Y                         120
       16242541                                20090201                12               2.5                        2     First Lien                           Y                         120
       16242542                                20110201             10.75               2.5                        2     First Lien                           Y                         120
       16242543                                20090201            11.875               2.5                        2     First Lien                           Y                         120

       LOAN_SEQ          PREPAY          AMORT_TERM1             PORTFOLIO
       16244517          Prepay                          360     ALT1
       16244519          No_PP                           360     ALT1
       16244520          No_PP                           360     ALT1
       16244521          No_PP                           360     ALT1
       16244522          No_PP                           360     ALT1
       16244525          No_PP                           360     ALT1
       16244526          Prepay                          360     ALT1
       16244527          No_PP                           360     ALT1
       16244528          Prepay                          360     ALT1
       16244529          No_PP                           360     ALT1
       16244530          Prepay                          360     ALT1
       16244531          No_PP                           360     ALT1
       16244532          No_PP                           360     ALT1
       16244533          No_PP                           360     ALT1
       16244534          No_PP                           360     ALT1
       16244535          No_PP                           360     ALT1
       16244536          No_PP                           360     ALT1
       16244537          No_PP                           360     ALT1
       16244538          Prepay                          360     ALT1
       16244540          No_PP                           360     ALT1
       16244541          No_PP                           360     ALT1
       16244542          No_PP                           360     ALT1
       16244543          Prepay                          360     ALT1
       16244544          Prepay                          360     ALT1
       16369989          No_PP                           360     MADN
       16369992          No_PP                           360     MADN
       16369996          No_PP                           360     MADN
       16370000          Prepay                          360     MADN
       16370011          Prepay                          360     MADN
       16370030          Prepay                          360     MADN
       16370032          Prepay                          360     ADN1
       16370050          No_PP                           360     MADN
       16370060          No_PP                           360     MADN
       16370067          Prepay                          360     MADN
       16370070          No_PP                           360     MADN
       16370075          Prepay                          360     MADN
       16370086          Prepay                          360     MADN
       16370128          Prepay                          360     MADN
       16370161          No_PP                           360     MADN
       16370166          No_PP                           360     MADN
       16370177          No_PP                           360     MADN
       16370183          No_PP                           360     MADN
       16370189          Prepay                          360     MADN
       16370190          Prepay                          360     MADN
       16369912          Prepay                          360     MADN
       16369921          Prepay                          360     MADN
       16369923          No_PP                           360     MADN
       16369960          Prepay                          360     MADN
       16369967          Prepay                          360     MADN
       16369969          Prepay                          360     MADN
       16369972          No_PP                           360     MADN
       16369753          Prepay                          360     MADN
       16369781          Prepay                          360     MADN
       16369788          Prepay                          360     MADN
       16369797          No_PP                           360     MADN
       16369801          Prepay                          360     MADN
       16369802          Prepay                          360     MADN
       16369830          Prepay                          360     MADN
       16369874          Prepay                          360     MADN
       16369899          Prepay                          360     MADN
       16369911          Prepay                          360     MADN
       16369733          Prepay                          360     MADN
       16369544          Prepay                          360     MADN
       16369549          Prepay                          360     MADN
       16369551          Prepay                          360     ADN1
       16369561          Prepay                          360     MADN
       16369570          No_PP                           360     MADN
       16369573          No_PP                           360     MADN
       16369580          Prepay                          360     MADN
       16369585          No_PP                           360     MADN
       16369587          No_PP                           360     MADN
       16369604          No_PP                           360     MADN
       16369606          No_PP                           360     MADN
       16369609          Prepay                          360     MADN
       16369616          Prepay                          360     MADN
       16369626          Prepay                          360     MADN
       16369648          Prepay                          360     MADN
       16369652          Prepay                          360     MADN
       16369654          No_PP                           360     MADN
       16369667          No_PP                           360     MADN
       16369674          No_PP                           360     MADN
       16369690          Prepay                          360     MADN
       16369691          Prepay                          360     MADN
       16369700          Prepay                          360     MADN
       16369703          Prepay                          360     MADN
       16369721          Prepay                          360     MADN
       16368713          Prepay                          360     ADN1
       16368715          No_PP                           360     MADN
       16368716          No_PP                           360     MADN
       16368719          Prepay                          360     MADN
       16368720          Prepay                          360     MADN
       16368780          No_PP                           360     MADN
       16368778          No_PP                           360     ADN1
       16370215          Prepay                          360     MADN
       16370246          No_PP                           360     MADN
       16370251          No_PP                           360     MADN
       16370263          Prepay                          360     MADN
       16370286          No_PP                           360     MADN
       16370288          No_PP                           360     MADN
       16369520          Prepay                          360     MADN
       16369010          No_PP                           360     MADN
       16369050          No_PP                           360     MADN
       16369055          No_PP                           360     MADN
       16369056          No_PP                           360     MADN
       16369070          No_PP                           360     MADN
       16369074          Prepay                          360     MADN
       16369088          No_PP                           360     MADN
       16369099          No_PP                           360     MADN
       16369157          No_PP                           360     ADN1
       16369164          No_PP                           360     MADN
       16369189          No_PP                           360     MADN
       16369209          Prepay                          360     MADN
       16369217          Prepay                          360     ADN1
       16369225          No_PP                           360     MADN
       16369226          No_PP                           360     MADN
       16369229          No_PP                           360     MADN
       16369247          No_PP                           360     MADN
       16369257          Prepay                          360     MADN
       16369267          No_PP                           360     MADN
       16369290          No_PP                           360     MADN
       16369300          No_PP                           360     MADN
       16369350          Prepay                          360     MADN
       16369358          Prepay                          360     MADN
       16369360          No_PP                           360     MADN
       16369364          Prepay                          360     MADN
       16369370          Prepay                          360     MADN
       16369391          Prepay                          360     MADN
       16369393          Prepay                          360     MADN
       16369408          No_PP                           360     MADN
       16369409          No_PP                           360     MADN
       16369423          Prepay                          360     MADN
       16369436          Prepay                          360     MADN
       16369442          Prepay                          360     MADN
       16369447          Prepay                          360     MADN
       16369454          Prepay                          360     MADN
       16369455          Prepay                          360     MADN
       16369456          No_PP                           360     MADN
       16369468          Prepay                          360     MADN
       16369470          No_PP                           360     MADN
       16369471          Prepay                          360     MADN
       16369487          No_PP                           360     MADN
       16369490          Prepay                          360     MADN
       16369501          Prepay                          360     MADN
       16369512          Prepay                          360     MADN
       16368798          No_PP                           360     MADN
       16368817          No_PP                           360     MADN
       16368827          No_PP                           360     ADN1
       16368829          No_PP                           360     MADN
       16368849          No_PP                           360     MADN
       16368861          No_PP                           360     MADN
       16368863          Prepay                          360     MADN
       16368866          Prepay                          360     MADN
       16368870          No_PP                           360     MADN
       16368874          No_PP                           360     MADN
       16368882          No_PP                           360     MADN
       16368888          Prepay                          360     MADN
       16368902          Prepay                          360     MADN
       16368910          No_PP                           360     ADN1
       16368912          Prepay                          360     MADN
       16368917          No_PP                           360     MADN
       16368930          No_PP                           360     MADN
       16368960          No_PP                           360     MADN
       16368965          No_PP                           360     MADN
       16368971          No_PP                           360     MADN
       16368978          No_PP                           360     MADN
       16368985          No_PP                           360     MADN
       16368995          Prepay                          360     MADN
       16573265          Prepay                          360     MADN
       16573266          No_PP                           360     MADN
       16573267          Prepay                          360     MADN
       16573269          No_PP                           360     MADN
       16573270          No_PP                           360     MADN
       16573271          No_PP                           360     MADN
       16573272          No_PP                           360     MADN
       16573274          No_PP                           360     MADN
       16573275          No_PP                           360     MADN
       16573276          No_PP                           360     MADN
       16573277          No_PP                           360     MADN
       16573278          No_PP                           360     MADN
       16573279          No_PP                           360     MADN
       16573280          No_PP                           360     MADN
       16573281          No_PP                           360     MADN
       16573282          Prepay                          360     MADN
       16573283          No_PP                           360     MADN
       16573284          Prepay                          360     MADN
       16573285          Prepay                          360     MADN
       16573286          Prepay                          360     MADN
       16573287          No_PP                           360     MADN
       16573288          No_PP                           360     MADN
       16573289          No_PP                           360     MADN
       16598123          Prepay                          360     MADN
       16598124          No_PP                           360     MADN
       16598125          No_PP                           360     MADN
       16598127          No_PP                           360     MADN
       16598128          No_PP                           360     MADN
       16598129          No_PP                           360     MADN
       16573219          No_PP                           360     MADN
       16573220          No_PP                           360     MADN
       16573221          No_PP                           360     MADN
       16573222          No_PP                           360     MADN
       16573223          No_PP                           360     MADN
       16573224          No_PP                           360     MADN
       16573225          Prepay                          360     MADN
       16573226          No_PP                           360     MADN
       16573227          Prepay                          360     MADN
       16573228          No_PP                           360     MADN
       16573229          No_PP                           360     MADN
       16573230          Prepay                          360     ADN1
       16573231          Prepay                          360     MADN
       16573232          Prepay                          360     MADN
       16573233          Prepay                          360     MADN
       16573234          No_PP                           360     MADN
       16573235          Prepay                          360     MADN
       16573236          No_PP                           360     MADN
       16573237          No_PP                           360     MADN
       16573238          No_PP                           360     MADN
       16573239          No_PP                           360     MADN
       16573240          No_PP                           360     MADN
       16573241          No_PP                           360     MADN
       16573242          No_PP                           360     MADN
       16558646          No_PP                           360     MADN
       16558647          Prepay                          360     MADN
       16558648          Prepay                          360     MADN
       16558649          Prepay                          360     MADN
       16558650          Prepay                          360     ADN1
       16558652          No_PP                           360     MADN
       16558653          No_PP                           360     MADN
       16558598          No_PP                           360     MADN
       16558599          No_PP                           360     MADN
       16558600          No_PP                           360     MADN
       16558601          No_PP                           360     MADN
       16558602          No_PP                           360     MADN
       16558603          No_PP                           360     MADN
       16558604          No_PP                           360     MADN
       16558605          No_PP                           360     MADN
       16558606          No_PP                           360     MADN
       16558607          Prepay                          360     MADN
       16558608          No_PP                           360     MADN
       16558609          No_PP                           360     MADN
       16558610          No_PP                           360     MADN
       16558611          No_PP                           360     MADN
       16558612          No_PP                           360     MADN
       16558613          No_PP                           360     MADN
       16558614          No_PP                           360     MADN
       16558615          No_PP                           360     MADN
       16558616          No_PP                           360     MADN
       16558617          Prepay                          360     MADN
       16558618          Prepay                          360     MADN
       16558619          No_PP                           360     MADN
       16558620          No_PP                           360     MADN
       16558621          No_PP                           360     ADN1
       16558622          No_PP                           360     MADN
       16558623          No_PP                           360     MADN
       16558624          No_PP                           360     MADN
       16558625          No_PP                           360     MADN
       16558626          Prepay                          360     MADN
       16558627          No_PP                           360     MADN
       16558628          No_PP                           360     MADN
       16558629          No_PP                           360     MADN
       16558630          Prepay                          360     MADN
       16558631          No_PP                           360     MADN
       16558632          Prepay                          360     MADN
       16558633          No_PP                           360     MADN
       16558634          Prepay                          360     MADN
       16558635          Prepay                          360     MADN
       16558636          No_PP                           360     MADN
       16558637          No_PP                           360     MADN
       16558638          No_PP                           360     MADN
       16558639          No_PP                           360     MADN
       16558640          No_PP                           360     MADN
       16558641          Prepay                          360     MADN
       16558642          Prepay                          360     MADN
       16558643          Prepay                          360     MADN
       16558644          No_PP                           360     MADN
       16558645          Prepay                          360     MADN
       16593653          No_PP                           360     MADN
       16593654          No_PP                           360     ADN1
       16593655          No_PP                           360     MADN
       16593656          No_PP                           360     MADN
       16593608          Prepay                          360     MADN
       16593609          No_PP                           360     ADN1
       16593610          Prepay                          360     MADN
       16593611          No_PP                           360     MADN
       16593613          No_PP                           360     MADN
       16593614          Prepay                          360     MADN
       16593615          No_PP                           360     MADN
       16593616          No_PP                           360     MADN
       16593618          No_PP                           360     MADN
       16593619          No_PP                           360     MADN
       16593620          No_PP                           360     MADN
       16593621          No_PP                           360     MADN
       16593622          No_PP                           360     MADN
       16593623          No_PP                           360     MADN
       16593624          No_PP                           360     MADN
       16593625          No_PP                           360     MADN
       16593626          Prepay                          360     MADN
       16593628          Prepay                          360     MADN
       16593629          Prepay                          360     MADN
       16593630          Prepay                          360     MADN
       16593631          Prepay                          360     MADN
       16593632          Prepay                          360     MADN
       16593633          Prepay                          360     MADN
       16593634          No_PP                           360     MADN
       16593635          No_PP                           360     MADN
       16593636          No_PP                           360     MADN
       16593637          Prepay                          360     MADN
       16593638          No_PP                           360     MADN
       16593639          Prepay                          360     MADN
       16593640          Prepay                          360     MADN
       16593641          Prepay                          360     MADN
       16593642          Prepay                          360     MADN
       16593643          No_PP                           360     MADN
       16593644          Prepay                          360     MADN
       16593645          Prepay                          360     MADN
       16593646          No_PP                           360     MADN
       16593647          No_PP                           360     ADN1
       16593648          No_PP                           360     MADN
       16593650          Prepay                          360     MADN
       16593651          Prepay                          360     MADN
       16593652          No_PP                           360     MADN
       16573257          No_PP                           360     MADN
       16573258          No_PP                           360     MADN
       16573259          Prepay                          360     MADN
       16573260          No_PP                           360     MADN
       16573261          Prepay                          360     MADN
       16573262          No_PP                           360     MADN
       16573263          Prepay                          360     MADN
       16573264          No_PP                           360     MADN
       16573243          Prepay                          360     MADN
       16573244          No_PP                           360     MADN
       16573245          No_PP                           360     MADN
       16573246          No_PP                           360     MADN
       16573247          No_PP                           360     MADN
       16573248          No_PP                           360     MADN
       16573249          No_PP                           360     MADN
       16573250          Prepay                          360     MADN
       16573252          No_PP                           360     MADN
       16573253          Prepay                          360     MADN
       16573254          Prepay                          360     MADN
       16573255          No_PP                           360     MADN
       16573256          Prepay                          360     MADN
       16564115          No_PP                           360     MADN
       16564116          Prepay                          360     MADN
       16564117          Prepay                          360     MADN
       16564118          Prepay                          360     MADN
       16564119          No_PP                           360     MADN
       16564120          Prepay                          360     MADN
       16564121          Prepay                          360     MADN
       16564122          Prepay                          360     ADN1
       16564123          No_PP                           360     MADN
       16564124          No_PP                           360     MADN
       16564125          No_PP                           360     MADN
       16564081          Prepay                          360     MADN
       16564082          Prepay                          360     MADN
       16564083          Prepay                          360     MADN
       16564084          No_PP                           360     MADN
       16564063          No_PP                           360     MADN
       16564064          No_PP                           360     MADN
       16564065          No_PP                           360     MADN
       16564066          Prepay                          360     MADN
       16564067          No_PP                           360     MADN
       16564068          No_PP                           360     ADN1
       16564069          No_PP                           360     MADN
       16564070          No_PP                           360     MADN
       16564071          Prepay                          360     MADN
       16564072          Prepay                          360     MADN
       16564073          No_PP                           360     MADN
       16564074          Prepay                          360     MADN
       16564075          Prepay                          360     MADN
       16564076          Prepay                          360     MADN
       16564078          No_PP                           360     MADN
       16564079          No_PP                           360     MADN
       16564080          Prepay                          360     MADN
       16564039          No_PP                           360     MADN
       16564040          No_PP                           360     MADN
       16564041          No_PP                           360     MADN
       16564042          No_PP                           360     MADN
       16564043          No_PP                           360     MADN
       16564044          No_PP                           360     MADN
       16564045          No_PP                           360     MADN
       16564046          Prepay                          360     MADN
       16564047          No_PP                           360     ADN1
       16564048          Prepay                          360     MADN
       16564049          Prepay                          360     ADN1
       16564050          No_PP                           360     MADN
       16564051          Prepay                          360     ADN1
       16564052          No_PP                           360     MADN
       16564053          Prepay                          360     MADN
       16564054          No_PP                           360     MADN
       16564055          No_PP                           360     MADN
       16564056          No_PP                           360     MADN
       16564057          No_PP                           360     MADN
       16564058          Prepay                          360     MADN
       16564059          No_PP                           360     MADN
       16564060          No_PP                           360     MADN
       16564061          No_PP                           360     MADN
       16564062          Prepay                          360     MADN
       16564091          Prepay                          360     MADN
       16564092          Prepay                          360     MADN
       16564093          No_PP                           360     MADN
       16564094          Prepay                          360     MADN
       16564095          Prepay                          360     MADN
       16564096          Prepay                          360     MADN
       16564097          Prepay                          360     MADN
       16564098          No_PP                           360     ADN1
       16564099          No_PP                           360     MADN
       16564100          Prepay                          360     MADN
       16564101          Prepay                          360     MADN
       16564102          No_PP                           360     MADN
       16564103          Prepay                          360     MADN
       16564104          Prepay                          360     MADN
       16564105          No_PP                           360     MADN
       16564106          Prepay                          360     MADN
       16564107          No_PP                           360     ADN1
       16564108          Prepay                          360     MADN
       16564110          Prepay                          360     ADN1
       16564111          Prepay                          360     MADN
       16564112          Prepay                          360     MADN
       16564113          Prepay                          360     MADN
       16564114          No_PP                           360     MADN
       16564085          Prepay                          360     MADN
       16564086          Prepay                          360     MADN
       16564087          Prepay                          360     MADN
       16564088          Prepay                          360     MADN
       16564089          No_PP                           360     MADN
       16633710          Prepay                          360     ADN1
       16647980          No_PP                           360     ADN1
       16647982          Prepay                          360     ADN1
       16647983          No_PP                           360     ADN1
       16647984          No_PP                           360     ADN1
       16647985          Prepay                          360     ADN1
       16647986          No_PP                           360     ADN1
       16647987          No_PP                           360     ADN1
       16647988          No_PP                           360     ADN1
       16647989          No_PP                           360     ADN1
       16647990          No_PP                           360     ADN1
       16647917          No_PP                           360     ADN1
       16647918          Prepay                          360     ADN1
       16647919          No_PP                           360     ADN1
       16647920          Prepay                          360     ADN1
       16647921          Prepay                          360     ADN1
       16647922          Prepay                          360     ADN1
       16647923          Prepay                          360     ADN1
       16647924          Prepay                          360     ADN1
       16647925          Prepay                          360     ADN1
       16647926          No_PP                           360     ADN1
       16647927          Prepay                          360     ADN1
       16647928          Prepay                          360     ADN1
       16647929          Prepay                          360     ADN1
       16647930          No_PP                           360     ADN1
       16647931          Prepay                          360     ADN1
       16647932          No_PP                           360     ADN1
       16647933          No_PP                           360     ADN1
       16647934          No_PP                           360     ADN1
       16647935          No_PP                           360     ADN1
       16647936          Prepay                          360     ADN1
       16647937          No_PP                           360     ADN1
       16647939          Prepay                          360     ADN1
       16647940          No_PP                           360     ADN1
       16647941          Prepay                          360     ADN1
       16647942          Prepay                          360     ADN1
       16647943          Prepay                          360     ADN1
       16647944          No_PP                           360     ADN1
       16647945          No_PP                           360     ADN1
       16647946          No_PP                           360     ADN1
       16647947          Prepay                          360     ADN1
       16647948          No_PP                           360     ADN1
       16647949          No_PP                           360     ADN1
       16647950          Prepay                          360     ADN1
       16647951          Prepay                          360     ADN1
       16647952          Prepay                          360     ADN1
       16647953          Prepay                          360     ADN1
       16647954          No_PP                           360     ADN1
       16647955          No_PP                           360     ADN1
       16647956          No_PP                           360     ADN1
       16647957          Prepay                          360     ADN1
       16647958          No_PP                           360     ADN1
       16647959          No_PP                           360     ADN1
       16647960          No_PP                           360     ADN1
       16647961          No_PP                           360     ADN1
       16647962          No_PP                           360     ADN1
       16647963          Prepay                          360     ADN1
       16647964          No_PP                           360     ADN1
       16647965          No_PP                           360     ADN1
       16647966          No_PP                           360     ADN1
       16647967          No_PP                           360     ADN1
       16647968          No_PP                           360     ADN1
       16647969          Prepay                          360     ADN1
       16647970          No_PP                           360     ADN1
       16647971          Prepay                          360     ADN1
       16647972          No_PP                           360     ADN1
       16647973          Prepay                          360     ADN1
       16647974          No_PP                           360     ADN1
       16647975          No_PP                           360     ADN1
       16647976          Prepay                          360     ADN1
       16647977          No_PP                           360     ADN1
       16647978          Prepay                          360     ADN1
       16647979          Prepay                          360     ADN1
       16647900          No_PP                           360     ADN1
       16647901          No_PP                           360     ADN1
       16647902          No_PP                           360     ADN1
       16647903          No_PP                           360     ADN1
       16647904          No_PP                           360     ADN1
       16647905          No_PP                           360     ADN1
       16647906          No_PP                           360     ADN1
       16647907          No_PP                           360     ADN1
       16647908          Prepay                          360     ADN1
       16647909          No_PP                           360     ADN1
       16647910          No_PP                           360     ADN1
       16647911          No_PP                           360     ADN1
       16647912          Prepay                          360     ADN1
       16647913          Prepay                          360     ADN1
       16647914          No_PP                           360     ADN1
       16647915          No_PP                           360     ADN1
       16647916          Prepay                          360     ADN1
       16633750          No_PP                           360     ADN1
       16633913          No_PP                           360     ADN1
       16633751          No_PP                           360     ADN1
       16633914          No_PP                           360     ADN1
       16633752          Prepay                          360     ADN1
       16633753          No_PP                           360     ADN1
       16633915          No_PP                           360     ADN1
       16633916          No_PP                           360     ADN1
       16633754          No_PP                           360     ADN1
       16633917          No_PP                           360     ADN1
       16633755          No_PP                           360     ADN1
       16633918          No_PP                           360     ADN1
       16633756          No_PP                           360     ADN1
       16633919          No_PP                           360     ADN1
       16633757          No_PP                           360     ADN1
       16633758          No_PP                           360     ADN1
       16633759          No_PP                           360     ADN1
       16633920          No_PP                           360     ADN1
       16633921          No_PP                           360     ADN1
       16633760          No_PP                           360     ADN1
       16633922          No_PP                           360     ADN1
       16633761          No_PP                           360     ADN1
       16633923          No_PP                           360     ADN1
       16633762          Prepay                          360     ADN1
       16633924          No_PP                           360     ADN1
       16633763          No_PP                           360     ADN1
       16633925          No_PP                           360     ADN1
       16633764          No_PP                           360     ADN1
       16633926          No_PP                           360     ADN1
       16633765          No_PP                           360     ADN1
       16633927          No_PP                           360     ADN1
       16633766          No_PP                           360     ADN1
       16633928          No_PP                           360     ADN1
       16633929          Prepay                          360     ADN1
       16633768          No_PP                           360     ADN1
       16633769          Prepay                          360     ADN1
       16633930          No_PP                           360     ADN1
       16633931          No_PP                           360     ADN1
       16633932          No_PP                           360     ADN1
       16633770          No_PP                           360     ADN1
       16633771          No_PP                           360     ADN1
       16633933          No_PP                           360     ADN1
       16633934          No_PP                           360     ADN1
       16633772          No_PP                           360     ADN1
       16633773          No_PP                           360     ADN1
       16633935          No_PP                           360     ADN1
       16633774          No_PP                           360     ADN1
       16633936          No_PP                           360     ADN1
       16633937          No_PP                           360     ADN1
       16633938          No_PP                           360     ADN1
       16633776          No_PP                           360     ADN1
       16633939          No_PP                           360     ADN1
       16633777          No_PP                           360     ADN1
       16633778          No_PP                           360     ADN1
       16633940          No_PP                           360     ADN1
       16633941          No_PP                           360     ADN1
       16633780          No_PP                           360     ADN1
       16633943          No_PP                           360     ADN1
       16633781          No_PP                           360     ADN1
       16633782          No_PP                           360     ADN1
       16633944          No_PP                           360     ADN1
       16633945          No_PP                           360     ADN1
       16633783          No_PP                           360     ADN1
       16633784          No_PP                           360     ADN1
       16633946          No_PP                           360     ADN1
       16633947          Prepay                          360     ADN1
       16633785          No_PP                           360     ADN1
       16633786          No_PP                           360     ADN1
       16633948          No_PP                           360     ADN1
       16633787          Prepay                          360     ADN1
       16633949          No_PP                           360     ADN1
       16633788          No_PP                           360     ADN1
       16633789          No_PP                           360     ADN1
       16633790          Prepay                          360     ADN1
       16633791          No_PP                           360     ADN1
       16633792          No_PP                           360     ADN1
       16633793          No_PP                           360     ADN1
       16633794          Prepay                          360     ADN1
       16633795          Prepay                          360     ADN1
       16633796          Prepay                          360     ADN1
       16633797          No_PP                           360     ADN1
       16633798          Prepay                          360     ADN1
       16633799          No_PP                           360     ADN1
       16633709          No_PP                           360     ADN1
       16633712          No_PP                           360     ADN1
       16633713          Prepay                          360     ADN1
       16633714          No_PP                           360     ADN1
       16633715          No_PP                           360     ADN1
       16633716          No_PP                           360     ADN1
       16633717          No_PP                           360     ADN1
       16633718          No_PP                           360     ADN1
       16633719          No_PP                           360     ADN1
       16633720          No_PP                           360     ADN1
       16633721          No_PP                           360     ADN1
       16633722          No_PP                           360     ADN1
       16633723          No_PP                           360     ADN1
       16633724          No_PP                           360     ADN1
       16633725          No_PP                           360     ADN1
       16633726          No_PP                           360     ADN1
       16647891          Prepay                          360     ADN1
       16647892          Prepay                          360     ADN1
       16647893          Prepay                          360     ADN1
       16647895          Prepay                          360     ADN1
       16647896          No_PP                           360     ADN1
       16647897          No_PP                           360     ADN1
       16647898          Prepay                          360     ADN1
       16647899          No_PP                           360     ADN1
       16647835          No_PP                           360     ADN1
       16647836          No_PP                           360     ADN1
       16647837          No_PP                           360     ADN1
       16647838          No_PP                           360     ADN1
       16647839          No_PP                           360     ADN1
       16647840          No_PP                           360     ADN1
       16647841          No_PP                           360     ADN1
       16647844          No_PP                           360     ADN1
       16647846          No_PP                           360     ADN1
       16647848          No_PP                           360     ADN1
       16647849          No_PP                           360     ADN1
       16647850          No_PP                           360     ADN1
       16647851          No_PP                           360     ADN1
       16647852          No_PP                           360     ADN1
       16647853          No_PP                           360     ADN1
       16647854          No_PP                           360     ADN1
       16647855          No_PP                           360     ADN1
       16647856          No_PP                           360     ADN1
       16647857          No_PP                           360     ADN1
       16647858          No_PP                           360     ADN1
       16647859          No_PP                           360     ADN1
       16647860          No_PP                           360     ADN1
       16647861          Prepay                          360     ADN1
       16647862          No_PP                           360     ADN1
       16647864          No_PP                           360     ADN1
       16647865          No_PP                           360     ADN1
       16647866          No_PP                           360     ADN1
       16647867          No_PP                           360     ADN1
       16647868          No_PP                           360     ADN1
       16647869          No_PP                           360     ADN1
       16647870          No_PP                           360     ADN1
       16647871          No_PP                           360     ADN1
       16647873          No_PP                           360     ADN1
       16647874          No_PP                           360     ADN1
       16647875          No_PP                           360     ADN1
       16647876          No_PP                           360     ADN1
       16647877          No_PP                           360     ADN1
       16647878          No_PP                           360     ADN1
       16647880          No_PP                           360     ADN1
       16647881          No_PP                           360     ADN1
       16647882          No_PP                           360     ADN1
       16647883          Prepay                          360     ADN1
       16647884          No_PP                           360     ADN1
       16647885          No_PP                           360     ADN1
       16647886          No_PP                           360     ADN1
       16647887          No_PP                           360     ADN1
       16647888          Prepay                          360     ADN1
       16647889          No_PP                           360     ADN1
       16647890          Prepay                          360     ADN1
       16633881          No_PP                           360     ADN1
       16633882          No_PP                           360     ADN1
       16633883          No_PP                           360     ADN1
       16633884          Prepay                          360     ADN1
       16633885          No_PP                           360     ADN1
       16633886          No_PP                           360     ADN1
       16633887          No_PP                           360     ADN1
       16633888          No_PP                           360     ADN1
       16633889          Prepay                          360     ADN1
       16633890          No_PP                           360     ADN1
       16633891          No_PP                           360     ADN1
       16633892          No_PP                           360     ADN1
       16633893          No_PP                           360     ADN1
       16633894          Prepay                          360     ADN1
       16633895          Prepay                          360     ADN1
       16633896          No_PP                           360     ADN1
       16633897          No_PP                           360     ADN1
       16633898          No_PP                           360     ADN1
       16633899          No_PP                           360     ADN1
       16633900          Prepay                          360     ADN1
       16633901          No_PP                           360     ADN1
       16633740          No_PP                           360     ADN1
       16633902          No_PP                           360     ADN1
       16633741          No_PP                           360     ADN1
       16633903          Prepay                          360     ADN1
       16633904          Prepay                          360     ADN1
       16633742          No_PP                           360     ADN1
       16633905          No_PP                           360     ADN1
       16633743          Prepay                          360     ADN1
       16633744          No_PP                           360     ADN1
       16633906          No_PP                           360     ADN1
       16633907          Prepay                          360     ADN1
       16633745          No_PP                           360     ADN1
       16633908          No_PP                           360     ADN1
       16633746          Prepay                          360     ADN1
       16633909          No_PP                           360     ADN1
       16633747          No_PP                           360     ADN1
       16633748          No_PP                           360     ADN1
       16633749          No_PP                           360     ADN1
       16648000          No_PP                           360     ADN1
       16648002          Prepay                          360     ADN1
       16648003          No_PP                           360     ADN1
       16633910          Prepay                          360     ADN1
       16633911          Prepay                          360     ADN1
       16633912          Prepay                          360     ADN1
       16633850          Prepay                          360     ADN1
       16633851          Prepay                          360     ADN1
       16633852          No_PP                           360     ADN1
       16633853          Prepay                          360     ADN1
       16633854          No_PP                           360     ADN1
       16633855          Prepay                          360     ADN1
       16633856          No_PP                           360     ADN1
       16633857          No_PP                           360     ADN1
       16633858          Prepay                          360     ADN1
       16633859          No_PP                           360     ADN1
       16633860          No_PP                           360     ADN1
       16633861          No_PP                           360     ADN1
       16633862          Prepay                          360     ADN1
       16633863          No_PP                           360     ADN1
       16633864          No_PP                           360     ADN1
       16633865          No_PP                           360     ADN1
       16633866          No_PP                           360     ADN1
       16633867          No_PP                           360     ADN1
       16633868          No_PP                           360     ADN1
       16633869          No_PP                           360     ADN1
       16633870          No_PP                           360     ADN1
       16633871          Prepay                          360     ADN1
       16633872          No_PP                           360     ADN1
       16633873          No_PP                           360     ADN1
       16633874          No_PP                           360     ADN1
       16633875          No_PP                           360     ADN1
       16633876          Prepay                          360     ADN1
       16633877          No_PP                           360     ADN1
       16633878          No_PP                           360     ADN1
       16633879          Prepay                          360     ADN1
       16633880          Prepay                          360     ADN1
       16633711          No_PP                           360     ADN1
       16633831          No_PP                           360     ADN1
       16633727          No_PP                           360     ADN1
       16633728          No_PP                           360     ADN1
       16633729          No_PP                           360     ADN1
       16633730          No_PP                           360     ADN1
       16633731          No_PP                           360     ADN1
       16633732          No_PP                           360     ADN1
       16633733          No_PP                           360     ADN1
       16633734          No_PP                           360     ADN1
       16633735          No_PP                           360     ADN1
       16633736          No_PP                           360     ADN1
       16633737          Prepay                          360     ADN1
       16633738          No_PP                           360     ADN1
       16633739          No_PP                           360     ADN1
       16633843          No_PP                           360     ADN1
       16633844          Prepay                          360     ADN1
       16633845          Prepay                          360     ADN1
       16633846          No_PP                           360     ADN1
       16633847          Prepay                          360     ADN1
       16633848          Prepay                          360     ADN1
       16633849          No_PP                           360     ADN1
       16633838          No_PP                           360     ADN1
       16633839          No_PP                           360     ADN1
       16633840          Prepay                          360     ADN1
       16633841          Prepay                          360     ADN1
       16633842          Prepay                          360     ADN1
       16633821          No_PP                           360     ADN1
       16633822          No_PP                           360     ADN1
       16633823          No_PP                           360     ADN1
       16633824          No_PP                           360     ADN1
       16633825          No_PP                           360     ADN1
       16633826          No_PP                           360     ADN1
       16633827          No_PP                           360     ADN1
       16633828          Prepay                          360     ADN1
       16633829          No_PP                           360     ADN1
       16633830          No_PP                           360     ADN1
       16633832          Prepay                          360     ADN1
       16633833          Prepay                          360     ADN1
       16633834          Prepay                          360     ADN1
       16633835          Prepay                          360     ADN1
       16633836          No_PP                           360     ADN1
       16633837          No_PP                           360     ADN1
       16633817          Prepay                          360     ADN1
       16633818          No_PP                           360     ADN1
       16633819          No_PP                           360     ADN1
       16633820          Prepay                          360     ADN1
       16633815          Prepay                          360     ADN1
       16633816          Prepay                          360     ADN1
       16633814          No_PP                           360     ADN1
       16633804          Prepay                          360     ADN1
       16633805          No_PP                           360     ADN1
       16633806          No_PP                           360     ADN1
       16633807          No_PP                           360     ADN1
       16633808          Prepay                          360     ADN1
       16633809          Prepay                          360     ADN1
       16633810          Prepay                          360     ADN1
       16633811          Prepay                          360     ADN1
       16633812          No_PP                           360     ADN1
       16633813          No_PP                           360     ADN1
       16633800          No_PP                           360     ADN1
       16633801          No_PP                           360     ADN1
       16633802          No_PP                           360     ADN1
       16633803          Prepay                          360     ADN1
       16647991          No_PP                           360     ADN1
       16647992          No_PP                           360     ADN1
       16647993          No_PP                           360     ADN1
       16647994          No_PP                           360     ADN1
       16647995          No_PP                           360     ADN1
       16647996          No_PP                           360     ADN1
       16647997          No_PP                           360     ADN1
       16647998          No_PP                           360     ADN1
       16647999          No_PP                           360     ADN1
       16634866          No_PP                           360     ADN1
       16634871          No_PP                           360     ADN1
       16635203          Prepay                          360     ADN1
       16635204          No_PP                           360     ADN1
       16635042          No_PP                           360     ADN1
       16635205          No_PP                           360     ADN1
       16635044          No_PP                           360     ADN1
       16635208          No_PP                           360     ADN1
       16635048          No_PP                           360     ADN1
       16635049          No_PP                           360     ADN1
       16635210          Prepay                          360     ADN1
       16635211          No_PP                           360     ADN1
       16635050          Prepay                          360     ADN1
       16635213          No_PP                           360     ADN1
       16635052          No_PP                           360     ADN1
       16635215          No_PP                           360     ADN1
       16635216          Prepay                          360     ADN1
       16635218          Prepay                          360     ADN1
       16635056          No_PP                           360     ADN1
       16635057          Prepay                          360     ADN1
       16635059          No_PP                           360     ADN1
       16635001          No_PP                           360     ADN1
       16635002          No_PP                           360     ADN1
       16635005          No_PP                           360     ADN1
       16635006          No_PP                           360     ADN1
       16635007          No_PP                           360     ADN1
       16635009          No_PP                           360     ADN1
       16635010          No_PP                           360     ADN1
       16635012          No_PP                           360     ADN1
       16635014          No_PP                           360     ADN1
       16635020          No_PP                           360     ADN1
       16635024          No_PP                           360     ADN1
       16635025          No_PP                           360     ADN1
       16635026          Prepay                          360     ADN1
       16635027          No_PP                           360     ADN1
       16635028          No_PP                           360     ADN1
       16635029          No_PP                           360     ADN1
       16635030          No_PP                           360     ADN1
       16635031          Prepay                          360     ADN1
       16635033          No_PP                           360     ADN1
       16635038          Prepay                          360     ADN1
       16635039          Prepay                          360     ADN1
       16635200          No_PP                           360     ADN1
       16635201          No_PP                           360     ADN1
       16635202          Prepay                          360     ADN1
       16635040          Prepay                          360     ADN1
       16167018          Prepay                          360     ADN1
       16634855          No_PP                           360     ADN1
       16634856          Prepay                          360     ADN1
       16634859          No_PP                           360     ADN1
       16634860          No_PP                           360     ADN1
       16634861          No_PP                           360     ADN1
       16634863          No_PP                           360     ADN1
       16634865          No_PP                           360     ADN1
       16634868          No_PP                           360     ADN1
       16634869          No_PP                           360     ADN1
       16634870          Prepay                          360     ADN1
       16634872          No_PP                           360     ADN1
       16634873          No_PP                           360     ADN1
       16634874          No_PP                           360     ADN1
       16634877          No_PP                           360     ADN1
       16634880          No_PP                           360     ADN1
       16634883          No_PP                           360     ADN1
       16634884          Prepay                          360     ADN1
       16634886          No_PP                           360     ADN1
       16634888          Prepay                          360     ADN1
       16634890          Prepay                          360     ADN1
       16634893          Prepay                          360     ADN1
       16634895          Prepay                          360     ADN1
       16635159          No_PP                           360     ADN1
       16635162          No_PP                           360     ADN1
       16635163          No_PP                           360     ADN1
       16635165          Prepay                          360     ADN1
       16635167          No_PP                           360     ADN1
       16635168          Prepay                          360     ADN1
       16635169          Prepay                          360     ADN1
       16635170          Prepay                          360     ADN1
       16635171          No_PP                           360     ADN1
       16635174          Prepay                          360     ADN1
       16635175          No_PP                           360     ADN1
       16635176          No_PP                           360     ADN1
       16635178          Prepay                          360     ADN1
       16635184          No_PP                           360     ADN1
       16635143          No_PP                           360     ADN1
       16635306          Prepay                          360     ADN1
       16635145          No_PP                           360     ADN1
       16635146          No_PP                           360     ADN1
       16635147          Prepay                          360     ADN1
       16635149          No_PP                           360     ADN1
       16635313          No_PP                           360     ADN1
       16635151          No_PP                           360     ADN1
       16635153          No_PP                           360     ADN1
       16635138          Prepay                          360     ADN1
       16635139          No_PP                           360     ADN1
       16635140          Prepay                          360     ADN1
       16635141          No_PP                           360     ADN1
       16635120          Prepay                          360     ADN1
       16635121          Prepay                          360     ADN1
       16635123          Prepay                          360     ADN1
       16635124          No_PP                           360     ADN1
       16635126          No_PP                           360     ADN1
       16635128          No_PP                           360     ADN1
       16635129          Prepay                          360     ADN1
       16635132          No_PP                           360     ADN1
       16635133          No_PP                           360     ADN1
       16635135          No_PP                           360     ADN1
       16635102          Prepay                          360     ADN1
       16635103          Prepay                          360     ADN1
       16635105          No_PP                           360     ADN1
       16635106          No_PP                           360     ADN1
       16635107          No_PP                           360     ADN1
       16635110          No_PP                           360     ADN1
       16635112          No_PP                           360     ADN1
       16635113          Prepay                          360     ADN1
       16635114          No_PP                           360     ADN1
       16635116          Prepay                          360     ADN1
       16635118          Prepay                          360     ADN1
       16635119          Prepay                          360     ADN1
       16634998          No_PP                           360     ADN1
       16634986          Prepay                          360     ADN1
       16634987          No_PP                           360     ADN1
       16634990          No_PP                           360     ADN1
       16634994          No_PP                           360     ADN1
       16634995          No_PP                           360     ADN1
       16634996          No_PP                           360     ADN1
       16634975          No_PP                           360     ADN1
       16634977          Prepay                          360     ADN1
       16634979          No_PP                           360     ADN1
       16634980          No_PP                           360     ADN1
       16634981          No_PP                           360     ADN1
       16634951          No_PP                           360     ADN1
       16634956          No_PP                           360     ADN1
       16634960          Prepay                          360     ADN1
       16634963          No_PP                           360     ADN1
       16634964          No_PP                           360     ADN1
       16634965          Prepay                          360     ADN1
       16634968          No_PP                           360     ADN1
       16634970          No_PP                           360     ADN1
       16634971          No_PP                           360     ADN1
       16634935          No_PP                           360     ADN1
       16634939          No_PP                           360     ADN1
       16634940          No_PP                           360     ADN1
       16634942          No_PP                           360     ADN1
       16634944          Prepay                          360     ADN1
       16634946          No_PP                           360     ADN1
       16634948          No_PP                           360     ADN1
       16634949          No_PP                           360     ADN1
       16634950          No_PP                           360     ADN1
       16634904          No_PP                           360     ADN1
       16634906          No_PP                           360     ADN1
       16634914          No_PP                           360     ADN1
       16634917          Prepay                          360     ADN1
       16634919          No_PP                           360     ADN1
       16634921          No_PP                           360     ADN1
       16634922          No_PP                           360     ADN1
       16634926          No_PP                           360     ADN1
       16634929          No_PP                           360     ADN1
       16634930          No_PP                           360     ADN1
       16634932          No_PP                           360     ADN1
       16635185          Prepay                          360     ADN1
       16635186          No_PP                           360     ADN1
       16635188          No_PP                           360     ADN1
       16635191          No_PP                           360     ADN1
       16635192          No_PP                           360     ADN1
       16635193          Prepay                          360     ADN1
       16635194          Prepay                          360     ADN1
       16634900          Prepay                          360     ADN1
       16634901          No_PP                           360     ADN1
       16635292          No_PP                           360     ADN1
       16635293          Prepay                          360     ADN1
       16635278          No_PP                           360     ADN1
       16635271          Prepay                          360     ADN1
       16635262          No_PP                           360     ADN1
       16635263          No_PP                           360     ADN1
       16635267          Prepay                          360     ADN1
       16635268          Prepay                          360     ADN1
       16635094          No_PP                           360     ADN1
       16635095          Prepay                          360     ADN1
       16635258          No_PP                           360     ADN1
       16635259          Prepay                          360     ADN1
       16635097          No_PP                           360     ADN1
       16635098          Prepay                          360     ADN1
       16635260          Prepay                          360     ADN1
       16635071          No_PP                           360     ADN1
       16635234          No_PP                           360     ADN1
       16635072          Prepay                          360     ADN1
       16635073          No_PP                           360     ADN1
       16635236          No_PP                           360     ADN1
       16635074          Prepay                          360     ADN1
       16635237          Prepay                          360     ADN1
       16635238          Prepay                          360     ADN1
       16635076          No_PP                           360     ADN1
       16635239          No_PP                           360     ADN1
       16635078          No_PP                           360     ADN1
       16635079          No_PP                           360     ADN1
       16635240          Prepay                          360     ADN1
       16635242          No_PP                           360     ADN1
       16635243          No_PP                           360     ADN1
       16635083          Prepay                          360     ADN1
       16635085          No_PP                           360     ADN1
       16635248          Prepay                          360     ADN1
       16635086          No_PP                           360     ADN1
       16635087          No_PP                           360     ADN1
       16635088          No_PP                           360     ADN1
       16635089          No_PP                           360     ADN1
       16635250          Prepay                          360     ADN1
       16635252          No_PP                           360     ADN1
       16635253          No_PP                           360     ADN1
       16635254          No_PP                           360     ADN1
       16635093          No_PP                           360     ADN1
       16635231          No_PP                           360     ADN1
       16635232          No_PP                           360     ADN1
       16635220          Prepay                          360     ADN1
       16635222          Prepay                          360     ADN1
       16635060          No_PP                           360     ADN1
       16635224          No_PP                           360     ADN1
       16635062          Prepay                          360     ADN1
       16635063          No_PP                           360     ADN1
       16635226          No_PP                           360     ADN1
       16635227          Prepay                          360     ADN1
       16635228          Prepay                          360     ADN1
       16635229          No_PP                           360     ADN1
       16635067          No_PP                           360     ADN1
       16635068          Prepay                          360     ADN1
       16639196          No_PP                           360     ADN1
       16639197          No_PP                           360     ADN1
       16639198          No_PP                           360     ADN1
       16639199          No_PP                           360     ADN1
       16639190          Prepay                          360     ADN1
       16639191          No_PP                           360     ADN1
       16639192          No_PP                           360     ADN1
       16639193          Prepay                          360     ADN1
       16639194          No_PP                           360     ADN1
       16639195          No_PP                           360     ADN1
       16639309          Prepay                          360     ADN1
       16639311          No_PP                           360     ADN1
       16639312          No_PP                           360     ADN1
       16639313          Prepay                          360     ADN1
       16639314          No_PP                           360     ADN1
       16639315          No_PP                           360     ADN1
       16639316          No_PP                           360     ADN1
       16639317          Prepay                          360     ADN1
       16639318          No_PP                           360     ADN1
       16639319          No_PP                           360     ADN1
       16639320          No_PP                           360     ADN1
       16639321          No_PP                           360     ADN1
       16639322          No_PP                           360     ADN1
       16639323          No_PP                           360     ADN1
       16639324          No_PP                           360     ADN1
       16639325          No_PP                           360     ADN1
       16639326          No_PP                           360     ADN1
       16639327          Prepay                          360     ADN1
       16639328          No_PP                           360     ADN1
       16639329          No_PP                           360     ADN1
       16639330          No_PP                           360     ADN1
       16639331          Prepay                          360     ADN1
       16639178          No_PP                           360     ADN1
       16639179          Prepay                          360     ADN1
       16639180          No_PP                           360     ADN1
       16639181          No_PP                           360     ADN1
       16639182          No_PP                           360     ADN1
       16639183          No_PP                           360     ADN1
       16639184          No_PP                           360     ADN1
       16639185          No_PP                           360     ADN1
       16639186          No_PP                           360     ADN1
       16639187          No_PP                           360     ADN1
       16639188          No_PP                           360     ADN1
       16639189          No_PP                           360     ADN1
       16639300          Prepay                          360     ADN1
       16639301          Prepay                          360     ADN1
       16639302          No_PP                           360     ADN1
       16639303          Prepay                          360     ADN1
       16639304          Prepay                          360     ADN1
       16639305          No_PP                           360     ADN1
       16639307          Prepay                          360     ADN1
       16639308          No_PP                           360     ADN1
       16639294          Prepay                          360     ADN1
       16639295          Prepay                          360     ADN1
       16639296          Prepay                          360     ADN1
       16639297          Prepay                          360     ADN1
       16639298          No_PP                           360     ADN1
       16639299          No_PP                           360     ADN1
       16639290          No_PP                           360     ADN1
       16639291          No_PP                           360     ADN1
       16639292          No_PP                           360     ADN1
       16639293          No_PP                           360     ADN1
       16639278          Prepay                          360     ADN1
       16639279          No_PP                           360     ADN1
       16639280          No_PP                           360     ADN1
       16639281          No_PP                           360     ADN1
       16639282          Prepay                          360     ADN1
       16639283          No_PP                           360     ADN1
       16639284          No_PP                           360     ADN1
       16639285          No_PP                           360     ADN1
       16639286          No_PP                           360     ADN1
       16639287          No_PP                           360     ADN1
       16639288          No_PP                           360     ADN1
       16639289          No_PP                           360     ADN1
       16639268          No_PP                           360     ADN1
       16639269          No_PP                           360     ADN1
       16639270          No_PP                           360     ADN1
       16639271          No_PP                           360     ADN1
       16639272          Prepay                          360     ADN1
       16639273          No_PP                           360     ADN1
       16639274          No_PP                           360     ADN1
       16639275          Prepay                          360     ADN1
       16639276          No_PP                           360     ADN1
       16639277          Prepay                          360     ADN1
       16639244          No_PP                           360     ADN1
       16639245          No_PP                           360     ADN1
       16639246          No_PP                           360     ADN1
       16639247          No_PP                           360     ADN1
       16639248          No_PP                           360     ADN1
       16639249          Prepay                          360     ADN1
       16639250          Prepay                          360     ADN1
       16639251          Prepay                          360     ADN1
       16639252          No_PP                           360     ADN1
       16639253          No_PP                           360     ADN1
       16639254          Prepay                          360     ADN1
       16639256          Prepay                          360     ADN1
       16639257          Prepay                          360     ADN1
       16639258          No_PP                           360     ADN1
       16639259          No_PP                           360     ADN1
       16639260          Prepay                          360     ADN1
       16639261          Prepay                          360     ADN1
       16639262          No_PP                           360     ADN1
       16639263          Prepay                          360     ADN1
       16639264          No_PP                           360     ADN1
       16639265          Prepay                          360     ADN1
       16639266          Prepay                          360     ADN1
       16639267          Prepay                          360     ADN1
       16639228          No_PP                           360     ADN1
       16639229          No_PP                           360     ADN1
       16639230          Prepay                          360     ADN1
       16639231          No_PP                           360     ADN1
       16639232          No_PP                           360     ADN1
       16639233          Prepay                          360     ADN1
       16639234          Prepay                          360     ADN1
       16639235          Prepay                          360     ADN1
       16639236          No_PP                           360     ADN1
       16639237          Prepay                          360     ADN1
       16639238          No_PP                           360     ADN1
       16639239          Prepay                          360     ADN1
       16639240          No_PP                           360     ADN1
       16639241          No_PP                           360     ADN1
       16639242          No_PP                           360     ADN1
       16639243          No_PP                           360     ADN1
       16639200          No_PP                           360     ADN1
       16639201          Prepay                          360     ADN1
       16639202          No_PP                           360     ADN1
       16639203          No_PP                           360     ADN1
       16639204          No_PP                           360     ADN1
       16639205          No_PP                           360     ADN1
       16639206          No_PP                           360     ADN1
       16639207          No_PP                           360     ADN1
       16639208          No_PP                           360     ADN1
       16639209          No_PP                           360     ADN1
       16639210          No_PP                           360     ADN1
       16639211          No_PP                           360     ADN1
       16639212          No_PP                           360     ADN1
       16639213          Prepay                          360     ADN1
       16639214          No_PP                           360     ADN1
       16639215          No_PP                           360     ADN1
       16639216          No_PP                           360     ADN1
       16639217          No_PP                           360     ADN1
       16639218          No_PP                           360     ADN1
       16639219          No_PP                           360     ADN1
       16639220          No_PP                           360     ADN1
       16639221          No_PP                           360     ADN1
       16639222          No_PP                           360     ADN1
       16639223          No_PP                           360     ADN1
       16639224          No_PP                           360     ADN1
       16639225          Prepay                          360     ADN1
       16639226          No_PP                           360     ADN1
       16639227          No_PP                           360     ADN1
       16356725          No_PP                           360     ADN1
       16356726          No_PP                           360     ADN1
       16356727          No_PP                           360     ADN1
       16356728          No_PP                           360     ADN1
       16356729          No_PP                           360     ADN1
       16356730          No_PP                           360     ADN1
       16356731          No_PP                           360     ADN1
       16356732          No_PP                           360     ADN1
       16356733          No_PP                           360     ADN1
       16356734          No_PP                           360     ADN1
       16356735          No_PP                           360     ADN1
       16356736          No_PP                           360     ADN1
       16356737          No_PP                           360     ADN1
       16356738          No_PP                           360     ADN1
       16356739          No_PP                           360     ADN1
       16356740          No_PP                           360     ADN1
       16356741          No_PP                           360     ADN1
       16356742          No_PP                           360     ADN1
       16356743          No_PP                           360     ADN1
       16356744          No_PP                           360     ADN1
       16356745          No_PP                           360     ADN1
       16356746          No_PP                           360     ADN1
       16356747          No_PP                           360     ADN1
       16356748          No_PP                           360     ADN1
       16356749          No_PP                           360     ADN1
       16356750          No_PP                           360     ADN1
       16356751          No_PP                           360     ADN1
       16356752          No_PP                           360     ADN1
       16356753          No_PP                           360     ADN1
       16356754          No_PP                           360     ADN1
       16356755          No_PP                           360     ADN1
       16356756          No_PP                           360     ADN1
       16356757          No_PP                           360     ADN1
       16356758          No_PP                           360     ADN1
       16356759          No_PP                           360     ADN1
       16356760          No_PP                           360     ADN1
       16356761          No_PP                           360     ADN1
       16356762          No_PP                           360     ADN1
       16356763          No_PP                           360     ADN1
       16356764          No_PP                           360     ADN1
       16356765          No_PP                           360     ADN1
       16356766          No_PP                           360     ADN1
       16356767          No_PP                           360     ADN1
       16356768          No_PP                           360     ADN1
       16356769          No_PP                           360     ADN1
       16356770          No_PP                           360     ADN1
       16356771          No_PP                           360     ADN1
       16356772          No_PP                           360     ADN1
       16356773          No_PP                           360     ADN1
       16356774          No_PP                           360     ADN1
       16356775          No_PP                           360     ADN1
       16356777          No_PP                           360     ADN1
       16356778          No_PP                           360     ADN1
       16356779          No_PP                           360     ADN1
       16356780          No_PP                           360     ADN1
       16356781          No_PP                           360     ADN1
       16356782          No_PP                           360     ADN1
       16356783          No_PP                           360     ADN1
       16356784          No_PP                           360     ADN1
       16356786          No_PP                           360     ADN1
       16356787          No_PP                           360     ADN1
       16356788          No_PP                           360     ADN1
       16356789          No_PP                           360     ADN1
       16356790          No_PP                           360     ADN1
       16356791          No_PP                           360     ADN1
       16356792          No_PP                           360     ADN1
       16356793          No_PP                           360     ADN1
       16356794          No_PP                           360     ADN1
       16356795          No_PP                           360     ADN1
       16356796          No_PP                           360     ADN1
       16356797          No_PP                           360     ADN1
       16356798          No_PP                           360     ADN1
       16356799          No_PP                           360     ADN1
       16356800          No_PP                           360     ADN1
       16356801          No_PP                           360     ADN1
       16356802          No_PP                           360     ADN1
       16356803          No_PP                           360     ADN1
       16356804          No_PP                           360     ADN1
       16356805          No_PP                           360     ADN1
       16356806          No_PP                           360     ADN1
       16356807          No_PP                           360     ADN1
       16356808          No_PP                           360     ADN1
       16356809          No_PP                           360     ADN1
       16356810          No_PP                           360     ADN1
       16356811          No_PP                           360     ADN1
       16356812          No_PP                           360     ADN1
       16356813          No_PP                           360     ADN1
       16356814          No_PP                           360     ADN1
       16356815          No_PP                           360     ADN1
       16356819          No_PP                           360     ADN1
       16356820          No_PP                           360     ADN1
       16356821          No_PP                           360     ADN1
       16356822          No_PP                           360     ADN1
       16356823          No_PP                           360     ADN1
       16356824          No_PP                           360     ADN1
       16356825          No_PP                           360     ADN1
       16356826          No_PP                           360     ADN1
       16356827          No_PP                           360     ADN1
       16356828          No_PP                           360     ADN1
       16356829          No_PP                           360     ADN1
       16356830          No_PP                           360     ADN1
       16356831          No_PP                           360     ADN1
       16356832          No_PP                           360     ADN1
       16356833          No_PP                           360     ADN1
       16356834          No_PP                           360     ADN1
       16356835          No_PP                           360     ADN1
       16356836          No_PP                           360     ADN1
       16356837          No_PP                           360     ADN1
       16356838          No_PP                           360     ADN1
       16356839          No_PP                           360     ADN1
       16356840          No_PP                           360     ADN1
       16356841          No_PP                           360     ADN1
       16356842          No_PP                           360     ADN1
       16356843          No_PP                           360     ADN1
       16356844          No_PP                           360     ADN1
       16356845          No_PP                           360     ADN1
       16356846          No_PP                           360     ADN1
       16356847          No_PP                           360     ADN1
       16356848          No_PP                           360     ADN1
       16356849          No_PP                           360     ADN1
       16356850          No_PP                           360     ADN1
       16356851          No_PP                           360     ADN1
       16356852          No_PP                           360     ADN1
       16356853          No_PP                           360     ADN1
       16356854          No_PP                           360     ADN1
       16356855          No_PP                           360     ADN1
       16356856          No_PP                           360     ADN1
       16356857          No_PP                           360     ADN1
       16356858          No_PP                           360     ADN1
       16356859          No_PP                           360     ADN1
       16356860          No_PP                           360     ADN1
       16356861          No_PP                           360     ADN1
       16356862          No_PP                           360     ADN1
       16356863          No_PP                           360     ADN1
       16356864          No_PP                           360     ADN1
       16356865          No_PP                           360     ADN1
       16356866          No_PP                           360     ADN1
       16356867          No_PP                           360     ADN1
       16356868          No_PP                           360     ADN1
       16356869          No_PP                           360     ADN1
       16356870          No_PP                           360     ADN1
       16356871          No_PP                           360     ADN1
       16356872          No_PP                           360     ADN1
       16356873          No_PP                           360     ADN1
       16356874          No_PP                           360     ADN1
       16356875          No_PP                           360     ADN1
       16356876          No_PP                           360     ADN1
       16356877          No_PP                           360     ADN1
       16356878          No_PP                           360     ADN1
       16356879          No_PP                           360     ADN1
       16356880          No_PP                           360     ADN1
       16356881          No_PP                           360     ADN1
       16356882          No_PP                           360     ADN1
       16356883          No_PP                           360     ADN1
       16356884          No_PP                           360     ADN1
       16357354          No_PP                           360     ADN1
       16357355          No_PP                           360     ADN1
       16357356          No_PP                           360     ADN1
       16357357          No_PP                           360     ADN1
       16357338          No_PP                           360     ADN1
       16357339          No_PP                           360     ADN1
       16357340          No_PP                           360     ADN1
       16357341          No_PP                           360     ADN1
       16357342          No_PP                           360     ADN1
       16357343          No_PP                           360     ADN1
       16357344          No_PP                           360     ADN1
       16357345          No_PP                           360     ADN1
       16357346          No_PP                           360     ADN1
       16357347          No_PP                           360     ADN1
       16357348          No_PP                           360     ADN1
       16357349          No_PP                           360     ADN1
       16357350          No_PP                           360     ADN1
       16357351          No_PP                           360     ADN1
       16357352          No_PP                           360     ADN1
       16357353          No_PP                           360     ADN1
       16357304          No_PP                           360     ADN1
       16357305          No_PP                           360     ADN1
       16357306          No_PP                           360     ADN1
       16357307          No_PP                           360     ADN1
       16357308          No_PP                           360     ADN1
       16357310          No_PP                           360     ADN1
       16357312          No_PP                           360     ADN1
       16357313          No_PP                           360     ADN1
       16357314          No_PP                           360     ADN1
       16357315          No_PP                           360     ADN1
       16357316          No_PP                           360     ADN1
       16357317          No_PP                           360     ADN1
       16357318          No_PP                           360     ADN1
       16357319          No_PP                           360     ADN1
       16357320          No_PP                           360     ADN1
       16357321          No_PP                           360     ADN1
       16357322          No_PP                           360     ADN1
       16357323          No_PP                           360     ADN1
       16357324          No_PP                           360     ADN1
       16357325          No_PP                           360     ADN1
       16357326          No_PP                           360     ADN1
       16357327          No_PP                           360     ADN1
       16357329          No_PP                           360     ADN1
       16357330          No_PP                           360     ADN1
       16357332          No_PP                           360     ADN1
       16357333          No_PP                           360     ADN1
       16357334          No_PP                           360     ADN1
       16357335          No_PP                           360     ADN1
       16357336          No_PP                           360     ADN1
       16357337          No_PP                           360     ADN1
       16357263          No_PP                           360     ADN1
       16357264          No_PP                           360     ADN1
       16357265          No_PP                           360     ADN1
       16357266          No_PP                           360     ADN1
       16357267          No_PP                           360     ADN1
       16357268          No_PP                           360     ADN1
       16357269          No_PP                           360     ADN1
       16357270          No_PP                           360     ADN1
       16357271          No_PP                           360     ADN1
       16357273          No_PP                           360     ADN1
       16357274          No_PP                           360     ADN1
       16357275          No_PP                           360     ADN1
       16357276          No_PP                           360     ADN1
       16357277          No_PP                           360     ADN1
       16357278          No_PP                           360     ADN1
       16357279          No_PP                           360     ADN1
       16357280          No_PP                           360     ADN1
       16357281          No_PP                           360     ADN1
       16357283          No_PP                           360     ADN1
       16357284          No_PP                           360     ADN1
       16357285          No_PP                           360     ADN1
       16357286          No_PP                           360     ADN1
       16357287          No_PP                           360     ADN1
       16357288          No_PP                           360     ADN1
       16357289          No_PP                           360     ADN1
       16357290          No_PP                           360     ADN1
       16357292          No_PP                           360     ADN1
       16357293          No_PP                           360     ADN1
       16357294          No_PP                           360     ADN1
       16357295          No_PP                           360     ADN1
       16357296          No_PP                           360     ADN1
       16357297          No_PP                           360     ADN1
       16357298          No_PP                           360     ADN1
       16357299          No_PP                           360     ADN1
       16357300          No_PP                           360     ADN1
       16357301          No_PP                           360     ADN1
       16357302          No_PP                           360     ADN1
       16357303          No_PP                           360     ADN1
       16357252          No_PP                           360     ADN1
       16357253          No_PP                           360     ADN1
       16357254          No_PP                           360     ADN1
       16357255          No_PP                           360     ADN1
       16357256          No_PP                           360     ADN1
       16357257          No_PP                           360     ADN1
       16357258          No_PP                           360     ADN1
       16357259          No_PP                           360     ADN1
       16357260          No_PP                           360     ADN1
       16357261          No_PP                           360     ADN1
       16357232          No_PP                           360     ADN1
       16357233          No_PP                           360     ADN1
       16357234          No_PP                           360     ADN1
       16357235          No_PP                           360     ADN1
       16357236          No_PP                           360     ADN1
       16357237          No_PP                           360     ADN1
       16357238          No_PP                           360     ADN1
       16357239          No_PP                           360     ADN1
       16357240          No_PP                           360     ADN1
       16357241          No_PP                           360     ADN1
       16357242          No_PP                           360     ADN1
       16357243          No_PP                           360     ADN1
       16357244          No_PP                           360     ADN1
       16357245          No_PP                           360     ADN1
       16357246          No_PP                           360     ADN1
       16357247          No_PP                           360     ADN1
       16357248          No_PP                           360     ADN1
       16357249          No_PP                           360     ADN1
       16357250          No_PP                           360     ADN1
       16357251          No_PP                           360     ADN1
       16357212          No_PP                           360     ADN1
       16357213          No_PP                           360     ADN1
       16357214          No_PP                           360     ADN1
       16357215          No_PP                           360     ADN1
       16357216          No_PP                           360     ADN1
       16357217          No_PP                           360     ADN1
       16357218          No_PP                           360     ADN1
       16357219          No_PP                           360     ADN1
       16357220          No_PP                           360     ADN1
       16357221          No_PP                           360     ADN1
       16357222          No_PP                           360     ADN1
       16357223          No_PP                           360     ADN1
       16357224          No_PP                           360     ADN1
       16357225          No_PP                           360     ADN1
       16357226          No_PP                           360     ADN1
       16357227          No_PP                           360     ADN1
       16357228          No_PP                           360     ADN1
       16357229          No_PP                           360     ADN1
       16357230          No_PP                           360     ADN1
       16357231          No_PP                           360     ADN1
       16357643          No_PP                           360     ADN1
       16357644          No_PP                           360     ADN1
       16357645          No_PP                           360     ADN1
       16357646          No_PP                           360     ADN1
       16357647          No_PP                           360     ADN1
       16357648          No_PP                           360     ADN1
       16357649          No_PP                           360     ADN1
       16357650          No_PP                           360     ADN1
       16357651          No_PP                           360     ADN1
       16357652          No_PP                           360     ADN1
       16357653          No_PP                           360     ADN1
       16357655          No_PP                           360     ADN1
       16357656          No_PP                           360     ADN1
       16357657          No_PP                           360     ADN1
       16357658          No_PP                           360     ADN1
       16357659          No_PP                           360     ADN1
       16357660          No_PP                           360     ADN1
       16357661          No_PP                           360     ADN1
       16357663          No_PP                           360     ADN1
       16357664          No_PP                           360     ADN1
       16357665          No_PP                           360     ADN1
       16357666          No_PP                           360     ADN1
       16357667          No_PP                           360     ADN1
       16357668          No_PP                           360     ADN1
       16357669          No_PP                           360     ADN1
       16357670          No_PP                           360     ADN1
       16357671          No_PP                           360     ADN1
       16357672          No_PP                           360     ADN1
       16357673          No_PP                           360     ADN1
       16357674          No_PP                           360     ADN1
       16357675          No_PP                           360     ADN1
       16357676          No_PP                           360     ADN1
       16357677          No_PP                           360     ADN1
       16357678          No_PP                           360     ADN1
       16357679          No_PP                           360     ADN1
       16357680          No_PP                           360     ADN1
       16357623          No_PP                           360     ADN1
       16357624          No_PP                           360     ADN1
       16357625          No_PP                           360     ADN1
       16357626          No_PP                           360     ADN1
       16357627          No_PP                           360     ADN1
       16357628          No_PP                           360     ADN1
       16357629          No_PP                           360     ADN1
       16357630          No_PP                           360     ADN1
       16357631          No_PP                           360     ADN1
       16357632          No_PP                           360     ADN1
       16357633          No_PP                           360     ADN1
       16357634          No_PP                           360     ADN1
       16357635          No_PP                           360     ADN1
       16357636          No_PP                           360     ADN1
       16357637          No_PP                           360     ADN1
       16357638          No_PP                           360     ADN1
       16357639          No_PP                           360     ADN1
       16357640          No_PP                           360     ADN1
       16357641          No_PP                           360     ADN1
       16357642          No_PP                           360     ADN1
       16357583          No_PP                           360     ADN1
       16357584          No_PP                           360     ADN1
       16357585          No_PP                           360     ADN1
       16357587          No_PP                           360     ADN1
       16357588          No_PP                           360     ADN1
       16357590          No_PP                           360     ADN1
       16357591          No_PP                           360     ADN1
       16357592          No_PP                           360     ADN1
       16357593          No_PP                           360     ADN1
       16357594          No_PP                           360     ADN1
       16357595          No_PP                           360     ADN1
       16357596          No_PP                           360     ADN1
       16357597          No_PP                           360     ADN1
       16357599          No_PP                           360     ADN1
       16357600          No_PP                           360     ADN1
       16357601          No_PP                           360     ADN1
       16357602          No_PP                           360     ADN1
       16357603          No_PP                           360     ADN1
       16357604          No_PP                           360     ADN1
       16357605          No_PP                           360     ADN1
       16357606          No_PP                           360     ADN1
       16357607          No_PP                           360     ADN1
       16357608          No_PP                           360     ADN1
       16357609          No_PP                           360     ADN1
       16357610          No_PP                           360     ADN1
       16357611          No_PP                           360     ADN1
       16357612          No_PP                           360     ADN1
       16357613          No_PP                           360     ADN1
       16357614          No_PP                           360     ADN1
       16357616          No_PP                           360     ADN1
       16357617          No_PP                           360     ADN1
       16357618          No_PP                           360     ADN1
       16357619          No_PP                           360     ADN1
       16357620          No_PP                           360     ADN1
       16357621          No_PP                           360     ADN1
       16357622          No_PP                           360     ADN1
       16357581          No_PP                           360     ADN1
       16357582          No_PP                           360     ADN1
       16357579          No_PP                           360     ADN1
       16357577          No_PP                           360     ADN1
       16357578          No_PP                           360     ADN1
       16357571          No_PP                           360     ADN1
       16357572          No_PP                           360     ADN1
       16357573          No_PP                           360     ADN1
       16357574          No_PP                           360     ADN1
       16357575          No_PP                           360     ADN1
       16357576          No_PP                           360     ADN1
       16357567          No_PP                           360     ADN1
       16357568          No_PP                           360     ADN1
       16357569          No_PP                           360     ADN1
       16357570          No_PP                           360     ADN1
       16357561          No_PP                           360     ADN1
       16357562          No_PP                           360     ADN1
       16357563          No_PP                           360     ADN1
       16357564          No_PP                           360     ADN1
       16357565          No_PP                           360     ADN1
       16357566          No_PP                           360     ADN1
       16357549          No_PP                           360     ADN1
       16357550          No_PP                           360     ADN1
       16357551          No_PP                           360     ADN1
       16357552          No_PP                           360     ADN1
       16357553          No_PP                           360     ADN1
       16357554          No_PP                           360     ADN1
       16357555          No_PP                           360     ADN1
       16357556          No_PP                           360     ADN1
       16357557          No_PP                           360     ADN1
       16357558          No_PP                           360     ADN1
       16357559          No_PP                           360     ADN1
       16357560          No_PP                           360     ADN1
       16357543          No_PP                           360     ADN1
       16357544          No_PP                           360     ADN1
       16357545          No_PP                           360     ADN1
       16357546          No_PP                           360     ADN1
       16357547          No_PP                           360     ADN1
       16357548          No_PP                           360     ADN1
       16357539          No_PP                           360     ADN1
       16357540          No_PP                           360     ADN1
       16357541          No_PP                           360     ADN1
       16357542          No_PP                           360     ADN1
       16357535          No_PP                           360     ADN1
       16357536          No_PP                           360     ADN1
       16357537          No_PP                           360     ADN1
       16357538          No_PP                           360     ADN1
       16357531          No_PP                           360     ADN1
       16357532          No_PP                           360     ADN1
       16357533          No_PP                           360     ADN1
       16357534          No_PP                           360     ADN1
       16357500          No_PP                           360     ADN1
       16357501          No_PP                           360     ADN1
       16357502          No_PP                           360     ADN1
       16357503          No_PP                           360     ADN1
       16357504          No_PP                           360     ADN1
       16357505          No_PP                           360     ADN1
       16357506          No_PP                           360     ADN1
       16357507          No_PP                           360     ADN1
       16357508          No_PP                           360     ADN1
       16357509          No_PP                           360     ADN1
       16357510          No_PP                           360     ADN1
       16357511          No_PP                           360     ADN1
       16357512          No_PP                           360     ADN1
       16357513          No_PP                           360     ADN1
       16357514          No_PP                           360     ADN1
       16357515          No_PP                           360     ADN1
       16357516          No_PP                           360     ADN1
       16357517          No_PP                           360     ADN1
       16357518          No_PP                           360     ADN1
       16357519          No_PP                           360     ADN1
       16357520          No_PP                           360     ADN1
       16357521          No_PP                           360     ADN1
       16357522          No_PP                           360     ADN1
       16357523          No_PP                           360     ADN1
       16357524          No_PP                           360     ADN1
       16357525          No_PP                           360     ADN1
       16357526          No_PP                           360     ADN1
       16357527          No_PP                           360     ADN1
       16357528          No_PP                           360     ADN1
       16357529          No_PP                           360     ADN1
       16357530          No_PP                           360     ADN1
       16357152          No_PP                           360     ADN1
       16357153          No_PP                           360     ADN1
       16357154          No_PP                           360     ADN1
       16357155          No_PP                           360     ADN1
       16357156          No_PP                           360     ADN1
       16357157          No_PP                           360     ADN1
       16357158          No_PP                           360     ADN1
       16357159          No_PP                           360     ADN1
       16357160          No_PP                           360     ADN1
       16357161          No_PP                           360     ADN1
       16357162          No_PP                           360     ADN1
       16357163          No_PP                           360     ADN1
       16357164          No_PP                           360     ADN1
       16357166          No_PP                           360     ADN1
       16357167          No_PP                           360     ADN1
       16357168          No_PP                           360     ADN1
       16357169          No_PP                           360     ADN1
       16357170          No_PP                           360     ADN1
       16357171          No_PP                           360     ADN1
       16357172          No_PP                           360     ADN1
       16357173          No_PP                           360     ADN1
       16357174          No_PP                           360     ADN1
       16357175          No_PP                           360     ADN1
       16357176          No_PP                           360     ADN1
       16357177          No_PP                           360     ADN1
       16357178          No_PP                           360     ADN1
       16357179          No_PP                           360     ADN1
       16357180          No_PP                           360     ADN1
       16357181          No_PP                           360     ADN1
       16357183          No_PP                           360     ADN1
       16357184          No_PP                           360     ADN1
       16357185          No_PP                           360     ADN1
       16357186          No_PP                           360     ADN1
       16357187          No_PP                           360     ADN1
       16357188          No_PP                           360     ADN1
       16357189          No_PP                           360     ADN1
       16357190          No_PP                           360     ADN1
       16357191          No_PP                           360     ADN1
       16357192          No_PP                           360     ADN1
       16357193          No_PP                           360     ADN1
       16357194          No_PP                           360     ADN1
       16357195          No_PP                           360     ADN1
       16357196          No_PP                           360     ADN1
       16357197          No_PP                           360     ADN1
       16357198          No_PP                           360     ADN1
       16357199          No_PP                           360     ADN1
       16357200          No_PP                           360     ADN1
       16357201          No_PP                           360     ADN1
       16357202          No_PP                           360     ADN1
       16357203          No_PP                           360     ADN1
       16357204          No_PP                           360     ADN1
       16357205          No_PP                           360     ADN1
       16357206          No_PP                           360     ADN1
       16357207          No_PP                           360     ADN1
       16357208          No_PP                           360     ADN1
       16357209          No_PP                           360     ADN1
       16357210          No_PP                           360     ADN1
       16357211          No_PP                           360     ADN1
       16357136          No_PP                           360     ADN1
       16357137          No_PP                           360     ADN1
       16357138          No_PP                           360     ADN1
       16357139          No_PP                           360     ADN1
       16357140          No_PP                           360     ADN1
       16357141          No_PP                           360     ADN1
       16357142          No_PP                           360     ADN1
       16357143          No_PP                           360     ADN1
       16357144          No_PP                           360     ADN1
       16357145          No_PP                           360     ADN1
       16357146          No_PP                           360     ADN1
       16357148          No_PP                           360     ADN1
       16357149          No_PP                           360     ADN1
       16357150          No_PP                           360     ADN1
       16357151          No_PP                           360     ADN1
       16357110          No_PP                           360     ADN1
       16357111          No_PP                           360     ADN1
       16357112          No_PP                           360     ADN1
       16357113          No_PP                           360     ADN1
       16357114          No_PP                           360     ADN1
       16357115          No_PP                           360     ADN1
       16357116          No_PP                           360     ADN1
       16357117          No_PP                           360     ADN1
       16357118          No_PP                           360     ADN1
       16357119          No_PP                           360     ADN1
       16357120          No_PP                           360     ADN1
       16357122          No_PP                           360     ADN1
       16357124          No_PP                           360     ADN1
       16357125          No_PP                           360     ADN1
       16357126          No_PP                           360     ADN1
       16357127          No_PP                           360     ADN1
       16357128          No_PP                           360     ADN1
       16357129          No_PP                           360     ADN1
       16357130          No_PP                           360     ADN1
       16357131          No_PP                           360     ADN1
       16357132          No_PP                           360     ADN1
       16357133          No_PP                           360     ADN1
       16357134          No_PP                           360     ADN1
       16357135          No_PP                           360     ADN1
       16357100          No_PP                           360     ADN1
       16357101          No_PP                           360     ADN1
       16357102          No_PP                           360     ADN1
       16357103          No_PP                           360     ADN1
       16357104          No_PP                           360     ADN1
       16357105          No_PP                           360     ADN1
       16357106          No_PP                           360     ADN1
       16357107          No_PP                           360     ADN1
       16357108          No_PP                           360     ADN1
       16357109          No_PP                           360     ADN1
       16357088          No_PP                           360     ADN1
       16357089          No_PP                           360     ADN1
       16357090          No_PP                           360     ADN1
       16357092          No_PP                           360     ADN1
       16357093          No_PP                           360     ADN1
       16357094          No_PP                           360     ADN1
       16357095          No_PP                           360     ADN1
       16357096          No_PP                           360     ADN1
       16357097          No_PP                           360     ADN1
       16357098          No_PP                           360     ADN1
       16357099          No_PP                           360     ADN1
       16357062          No_PP                           360     ADN1
       16357063          No_PP                           360     ADN1
       16357064          No_PP                           360     ADN1
       16357066          No_PP                           360     ADN1
       16357067          No_PP                           360     ADN1
       16357068          No_PP                           360     ADN1
       16357069          No_PP                           360     ADN1
       16357070          No_PP                           360     ADN1
       16357071          No_PP                           360     ADN1
       16357072          No_PP                           360     ADN1
       16357073          No_PP                           360     ADN1
       16357074          No_PP                           360     ADN1
       16357075          No_PP                           360     ADN1
       16357076          No_PP                           360     ADN1
       16357077          No_PP                           360     ADN1
       16357078          No_PP                           360     ADN1
       16357079          No_PP                           360     ADN1
       16357080          No_PP                           360     ADN1
       16357081          No_PP                           360     ADN1
       16357082          No_PP                           360     ADN1
       16357083          No_PP                           360     ADN1
       16357085          No_PP                           360     ADN1
       16357086          No_PP                           360     ADN1
       16357087          No_PP                           360     ADN1
       16356998          No_PP                           360     ADN1
       16356999          No_PP                           360     ADN1
       16357000          No_PP                           360     ADN1
       16357001          No_PP                           360     ADN1
       16357002          No_PP                           360     ADN1
       16357003          No_PP                           360     ADN1
       16357004          No_PP                           360     ADN1
       16357005          No_PP                           360     ADN1
       16357006          No_PP                           360     ADN1
       16357007          No_PP                           360     ADN1
       16357008          No_PP                           360     ADN1
       16357009          No_PP                           360     ADN1
       16357011          No_PP                           360     ADN1
       16357012          No_PP                           360     ADN1
       16357013          No_PP                           360     ADN1
       16356923          No_PP                           360     ADN1
       16356924          No_PP                           360     ADN1
       16356925          No_PP                           360     ADN1
       16356926          No_PP                           360     ADN1
       16356927          No_PP                           360     ADN1
       16356928          No_PP                           360     ADN1
       16356929          No_PP                           360     ADN1
       16356930          No_PP                           360     ADN1
       16356931          No_PP                           360     ADN1
       16356932          No_PP                           360     ADN1
       16357014          No_PP                           360     ADN1
       16357015          No_PP                           360     ADN1
       16357016          No_PP                           360     ADN1
       16357017          No_PP                           360     ADN1
       16357018          No_PP                           360     ADN1
       16357019          No_PP                           360     ADN1
       16357020          No_PP                           360     ADN1
       16357021          No_PP                           360     ADN1
       16357022          No_PP                           360     ADN1
       16357023          No_PP                           360     ADN1
       16357024          No_PP                           360     ADN1
       16357025          No_PP                           360     ADN1
       16357026          No_PP                           360     ADN1
       16357027          No_PP                           360     ADN1
       16357028          No_PP                           360     ADN1
       16357029          No_PP                           360     ADN1
       16356933          No_PP                           360     ADN1
       16356934          No_PP                           360     ADN1
       16356935          No_PP                           360     ADN1
       16356936          No_PP                           360     ADN1
       16356937          No_PP                           360     ADN1
       16356938          No_PP                           360     ADN1
       16356939          No_PP                           360     ADN1
       16356940          No_PP                           360     ADN1
       16356941          No_PP                           360     ADN1
       16356942          No_PP                           360     ADN1
       16356943          No_PP                           360     ADN1
       16356944          No_PP                           360     ADN1
       16356945          No_PP                           360     ADN1
       16356946          No_PP                           360     ADN1
       16356947          No_PP                           360     ADN1
       16356948          No_PP                           360     ADN1
       16356949          No_PP                           360     ADN1
       16356950          No_PP                           360     ADN1
       16356951          No_PP                           360     ADN1
       16356952          No_PP                           360     ADN1
       16356953          No_PP                           360     ADN1
       16356954          No_PP                           360     ADN1
       16356955          No_PP                           360     ADN1
       16356956          No_PP                           360     ADN1
       16356957          No_PP                           360     ADN1
       16356958          No_PP                           360     ADN1
       16356959          No_PP                           360     ADN1
       16356960          No_PP                           360     ADN1
       16356961          No_PP                           360     ADN1
       16356962          No_PP                           360     ADN1
       16356963          No_PP                           360     ADN1
       16356964          No_PP                           360     ADN1
       16356965          No_PP                           360     ADN1
       16356966          No_PP                           360     ADN1
       16356967          No_PP                           360     ADN1
       16356968          No_PP                           360     ADN1
       16356969          No_PP                           360     ADN1
       16356970          No_PP                           360     ADN1
       16356971          No_PP                           360     ADN1
       16356972          No_PP                           360     ADN1
       16356973          No_PP                           360     ADN1
       16356974          No_PP                           360     ADN1
       16356975          No_PP                           360     ADN1
       16356976          No_PP                           360     ADN1
       16356977          No_PP                           360     ADN1
       16356978          No_PP                           360     ADN1
       16356979          No_PP                           360     ADN1
       16356980          No_PP                           360     ADN1
       16356981          No_PP                           360     ADN1
       16356982          No_PP                           360     ADN1
       16356983          No_PP                           360     ADN1
       16356984          No_PP                           360     ADN1
       16356985          No_PP                           360     ADN1
       16356986          No_PP                           360     ADN1
       16356987          No_PP                           360     ADN1
       16356988          No_PP                           360     ADN1
       16356989          No_PP                           360     ADN1
       16356990          No_PP                           360     ADN1
       16356991          No_PP                           360     ADN1
       16356992          No_PP                           360     ADN1
       16356994          No_PP                           360     ADN1
       16356995          No_PP                           360     ADN1
       16356996          No_PP                           360     ADN1
       16356997          No_PP                           360     ADN1
       16357030          No_PP                           360     ADN1
       16357031          No_PP                           360     ADN1
       16357032          No_PP                           360     ADN1
       16357033          No_PP                           360     ADN1
       16357034          No_PP                           360     ADN1
       16357035          No_PP                           360     ADN1
       16357036          No_PP                           360     ADN1
       16357037          No_PP                           360     ADN1
       16357038          No_PP                           360     ADN1
       16357039          No_PP                           360     ADN1
       16357040          No_PP                           360     ADN1
       16357041          No_PP                           360     ADN1
       16357042          No_PP                           360     ADN1
       16357043          No_PP                           360     ADN1
       16357044          No_PP                           360     ADN1
       16357045          No_PP                           360     ADN1
       16357046          No_PP                           360     ADN1
       16357047          No_PP                           360     ADN1
       16357048          No_PP                           360     ADN1
       16357049          No_PP                           360     ADN1
       16357050          No_PP                           360     ADN1
       16357051          No_PP                           360     ADN1
       16357052          No_PP                           360     ADN1
       16357053          No_PP                           360     ADN1
       16357054          No_PP                           360     ADN1
       16357055          No_PP                           360     ADN1
       16357056          No_PP                           360     ADN1
       16357057          No_PP                           360     ADN1
       16357058          No_PP                           360     ADN1
       16357059          No_PP                           360     ADN1
       16357060          No_PP                           360     ADN1
       16357061          No_PP                           360     ADN1
       16356897          No_PP                           360     ADN1
       16356898          No_PP                           360     ADN1
       16356899          No_PP                           360     ADN1
       16356900          No_PP                           360     ADN1
       16356901          No_PP                           360     ADN1
       16356902          No_PP                           360     ADN1
       16356903          No_PP                           360     ADN1
       16356904          No_PP                           360     ADN1
       16356905          No_PP                           360     ADN1
       16356906          No_PP                           360     ADN1
       16356907          No_PP                           360     ADN1
       16356908          No_PP                           360     ADN1
       16356909          No_PP                           360     ADN1
       16356910          No_PP                           360     ADN1
       16356911          No_PP                           360     ADN1
       16356912          No_PP                           360     ADN1
       16356913          No_PP                           360     ADN1
       16356914          No_PP                           360     ADN1
       16356915          No_PP                           360     ADN1
       16356916          No_PP                           360     ADN1
       16356917          No_PP                           360     ADN1
       16356918          No_PP                           360     ADN1
       16356920          No_PP                           360     ADN1
       16356921          No_PP                           360     ADN1
       16356922          No_PP                           360     ADN1
       16356885          No_PP                           360     ADN1
       16356886          No_PP                           360     ADN1
       16356887          No_PP                           360     ADN1
       16356888          No_PP                           360     ADN1
       16356889          No_PP                           360     ADN1
       16356890          No_PP                           360     ADN1
       16356891          No_PP                           360     ADN1
       16356892          No_PP                           360     ADN1
       16356893          No_PP                           360     ADN1
       16356894          No_PP                           360     ADN1
       16356895          No_PP                           360     ADN1
       16356896          No_PP                           360     ADN1
       16356713          No_PP                           360     ADN1
       16356714          No_PP                           360     ADN1
       16356715          No_PP                           360     ADN1
       16356716          No_PP                           360     ADN1
       16356717          No_PP                           360     ADN1
       16356718          No_PP                           360     ADN1
       16356719          No_PP                           360     ADN1
       16356720          No_PP                           360     ADN1
       16356721          No_PP                           360     ADN1
       16356722          No_PP                           360     ADN1
       16356723          No_PP                           360     ADN1
       16356724          No_PP                           360     ADN1
       16356683          No_PP                           360     ADN1
       16356684          No_PP                           360     ADN1
       16356685          No_PP                           360     ADN1
       16356686          No_PP                           360     ADN1
       16356687          No_PP                           360     ADN1
       16356688          No_PP                           360     ADN1
       16356689          No_PP                           360     ADN1
       16356690          No_PP                           360     ADN1
       16356691          No_PP                           360     ADN1
       16356692          No_PP                           360     ADN1
       16356693          No_PP                           360     ADN1
       16356694          No_PP                           360     ADN1
       16356695          No_PP                           360     ADN1
       16356696          No_PP                           360     ADN1
       16356697          No_PP                           360     ADN1
       16356698          No_PP                           360     ADN1
       16356699          No_PP                           360     ADN1
       16356700          No_PP                           360     ADN1
       16356701          No_PP                           360     ADN1
       16356702          No_PP                           360     ADN1
       16356703          No_PP                           360     ADN1
       16356704          No_PP                           360     ADN1
       16356705          No_PP                           360     ADN1
       16356706          No_PP                           360     ADN1
       16356707          No_PP                           360     ADN1
       16356708          No_PP                           360     ADN1
       16356709          No_PP                           360     ADN1
       16356710          No_PP                           360     ADN1
       16356711          No_PP                           360     ADN1
       16356712          No_PP                           360     ADN1
       16356641          No_PP                           360     ADN1
       16356642          No_PP                           360     ADN1
       16356643          No_PP                           360     ADN1
       16356644          No_PP                           360     ADN1
       16356645          No_PP                           360     ADN1
       16356646          No_PP                           360     ADN1
       16356647          No_PP                           360     ADN1
       16356648          No_PP                           360     ADN1
       16356649          No_PP                           360     ADN1
       16356650          No_PP                           360     ADN1
       16356651          No_PP                           360     ADN1
       16356652          No_PP                           360     ADN1
       16356653          No_PP                           360     ADN1
       16356654          No_PP                           360     ADN1
       16356655          No_PP                           360     ADN1
       16356656          No_PP                           360     ADN1
       16356657          No_PP                           360     ADN1
       16356658          No_PP                           360     ADN1
       16356659          No_PP                           360     ADN1
       16356660          No_PP                           360     ADN1
       16356661          No_PP                           360     ADN1
       16356662          No_PP                           360     ADN1
       16356663          No_PP                           360     ADN1
       16356664          No_PP                           360     ADN1
       16356665          No_PP                           360     ADN1
       16356666          No_PP                           360     ADN1
       16356667          No_PP                           360     ADN1
       16356668          No_PP                           360     ADN1
       16356670          No_PP                           360     ADN1
       16356671          No_PP                           360     ADN1
       16356672          No_PP                           360     ADN1
       16356673          No_PP                           360     ADN1
       16356674          No_PP                           360     ADN1
       16356675          No_PP                           360     ADN1
       16356676          No_PP                           360     ADN1
       16356677          No_PP                           360     ADN1
       16356678          No_PP                           360     ADN1
       16356679          No_PP                           360     ADN1
       16356680          No_PP                           360     ADN1
       16356681          No_PP                           360     ADN1
       16356682          No_PP                           360     ADN1
       16356474          No_PP                           360     ADN1
       16356475          No_PP                           360     ADN1
       16356476          No_PP                           360     ADN1
       16356477          No_PP                           360     ADN1
       16356478          No_PP                           360     ADN1
       16356479          No_PP                           360     ADN1
       16356480          No_PP                           360     ADN1
       16356481          No_PP                           360     ADN1
       16356482          No_PP                           360     ADN1
       16356483          No_PP                           360     ADN1
       16356484          No_PP                           360     ADN1
       16356485          No_PP                           360     ADN1
       16356486          No_PP                           360     ADN1
       16356487          No_PP                           360     ADN1
       16356488          No_PP                           360     ADN1
       16356489          No_PP                           360     ADN1
       16356490          No_PP                           360     ADN1
       16356491          No_PP                           360     ADN1
       16356492          No_PP                           360     ADN1
       16356493          No_PP                           360     ADN1
       16356494          No_PP                           360     ADN1
       16356495          No_PP                           360     ADN1
       16356625          No_PP                           360     ADN1
       16356626          No_PP                           360     ADN1
       16356627          No_PP                           360     ADN1
       16356628          No_PP                           360     ADN1
       16356629          No_PP                           360     ADN1
       16356630          No_PP                           360     ADN1
       16356631          No_PP                           360     ADN1
       16356632          No_PP                           360     ADN1
       16356633          No_PP                           360     ADN1
       16356634          No_PP                           360     ADN1
       16356635          No_PP                           360     ADN1
       16356636          No_PP                           360     ADN1
       16356637          No_PP                           360     ADN1
       16356638          No_PP                           360     ADN1
       16356639          No_PP                           360     ADN1
       16356640          No_PP                           360     ADN1
       16356496          No_PP                           360     ADN1
       16356497          No_PP                           360     ADN1
       16356498          No_PP                           360     ADN1
       16356499          No_PP                           360     ADN1
       16356500          No_PP                           360     ADN1
       16356501          No_PP                           360     ADN1
       16356502          No_PP                           360     ADN1
       16356503          No_PP                           360     ADN1
       16356504          No_PP                           360     ADN1
       16356505          No_PP                           360     ADN1
       16356506          No_PP                           360     ADN1
       16356507          No_PP                           360     ADN1
       16356508          No_PP                           360     ADN1
       16356509          No_PP                           360     ADN1
       16356510          No_PP                           360     ADN1
       16356511          No_PP                           360     ADN1
       16356512          No_PP                           360     ADN1
       16356513          No_PP                           360     ADN1
       16356514          No_PP                           360     ADN1
       16356515          No_PP                           360     ADN1
       16356516          No_PP                           360     ADN1
       16356517          No_PP                           360     ADN1
       16356518          No_PP                           360     ADN1
       16356519          No_PP                           360     ADN1
       16356520          No_PP                           360     ADN1
       16356521          No_PP                           360     ADN1
       16356522          No_PP                           360     ADN1
       16356523          No_PP                           360     ADN1
       16356524          No_PP                           360     ADN1
       16356525          No_PP                           360     ADN1
       16356527          No_PP                           360     ADN1
       16356528          No_PP                           360     ADN1
       16356529          No_PP                           360     ADN1
       16356530          No_PP                           360     ADN1
       16356531          No_PP                           360     ADN1
       16356532          No_PP                           360     ADN1
       16356533          No_PP                           360     ADN1
       16356534          No_PP                           360     ADN1
       16356535          No_PP                           360     ADN1
       16356536          No_PP                           360     ADN1
       16356537          No_PP                           360     ADN1
       16356538          No_PP                           360     ADN1
       16356539          No_PP                           360     ADN1
       16356541          No_PP                           360     ADN1
       16356542          No_PP                           360     ADN1
       16356543          No_PP                           360     ADN1
       16356544          No_PP                           360     ADN1
       16356545          No_PP                           360     ADN1
       16356546          No_PP                           360     ADN1
       16356547          No_PP                           360     ADN1
       16356548          No_PP                           360     ADN1
       16356549          No_PP                           360     ADN1
       16356550          No_PP                           360     ADN1
       16356551          No_PP                           360     ADN1
       16356552          No_PP                           360     ADN1
       16356553          No_PP                           360     ADN1
       16356554          No_PP                           360     ADN1
       16356555          No_PP                           360     ADN1
       16356556          No_PP                           360     ADN1
       16356558          No_PP                           360     ADN1
       16356559          No_PP                           360     ADN1
       16356560          No_PP                           360     ADN1
       16356561          No_PP                           360     ADN1
       16356562          No_PP                           360     ADN1
       16356563          No_PP                           360     ADN1
       16356564          No_PP                           360     ADN1
       16356565          No_PP                           360     ADN1
       16356566          No_PP                           360     ADN1
       16356567          No_PP                           360     ADN1
       16356568          No_PP                           360     ADN1
       16356569          No_PP                           360     ADN1
       16356570          No_PP                           360     ADN1
       16356571          No_PP                           360     ADN1
       16356572          No_PP                           360     ADN1
       16356573          No_PP                           360     ADN1
       16356574          No_PP                           360     ADN1
       16356575          No_PP                           360     ADN1
       16356576          No_PP                           360     ADN1
       16356577          No_PP                           360     ADN1
       16356578          No_PP                           360     ADN1
       16356579          No_PP                           360     ADN1
       16356580          No_PP                           360     ADN1
       16356581          No_PP                           360     ADN1
       16356582          No_PP                           360     ADN1
       16356583          No_PP                           360     ADN1
       16356584          No_PP                           360     ADN1
       16356585          No_PP                           360     ADN1
       16356586          No_PP                           360     ADN1
       16356587          No_PP                           360     ADN1
       16356588          No_PP                           360     ADN1
       16356589          No_PP                           360     ADN1
       16356590          No_PP                           360     ADN1
       16356591          No_PP                           360     ADN1
       16356592          No_PP                           360     ADN1
       16356593          No_PP                           360     ADN1
       16356594          No_PP                           360     ADN1
       16356595          No_PP                           360     ADN1
       16356596          No_PP                           360     ADN1
       16356597          No_PP                           360     ADN1
       16356598          No_PP                           360     ADN1
       16356599          No_PP                           360     ADN1
       16356600          No_PP                           360     ADN1
       16356601          No_PP                           360     ADN1
       16356602          No_PP                           360     ADN1
       16356603          No_PP                           360     ADN1
       16356604          No_PP                           360     ADN1
       16356605          No_PP                           360     ADN1
       16356606          No_PP                           360     ADN1
       16356607          No_PP                           360     ADN1
       16356608          No_PP                           360     ADN1
       16356609          No_PP                           360     ADN1
       16356610          No_PP                           360     ADN1
       16356611          No_PP                           360     ADN1
       16356612          No_PP                           360     ADN1
       16356613          No_PP                           360     ADN1
       16356614          No_PP                           360     ADN1
       16356615          No_PP                           360     ADN1
       16356616          No_PP                           360     ADN1
       16356617          No_PP                           360     ADN1
       16356618          No_PP                           360     ADN1
       16356619          No_PP                           360     ADN1
       16356620          No_PP                           360     ADN1
       16356621          No_PP                           360     ADN1
       16356622          No_PP                           360     ADN1
       16356623          No_PP                           360     ADN1
       16356624          No_PP                           360     ADN1
       16356253          No_PP                           360     ADN1
       16356254          No_PP                           360     ADN1
       16356256          No_PP                           360     ADN1
       16356257          No_PP                           360     ADN1
       16356258          No_PP                           360     ADN1
       16356260          No_PP                           360     ADN1
       16356261          No_PP                           360     ADN1
       16356262          No_PP                           360     ADN1
       16356263          No_PP                           360     ADN1
       16356264          No_PP                           360     ADN1
       16356265          No_PP                           360     ADN1
       16356266          No_PP                           360     ADN1
       16356267          No_PP                           360     ADN1
       16356268          No_PP                           360     ADN1
       16356269          No_PP                           360     ADN1
       16356270          No_PP                           360     ADN1
       16356271          No_PP                           360     ADN1
       16356272          No_PP                           360     ADN1
       16356273          No_PP                           360     ADN1
       16356274          No_PP                           360     ADN1
       16356275          No_PP                           360     ADN1
       16356276          No_PP                           360     ADN1
       16356277          No_PP                           360     ADN1
       16356278          No_PP                           360     ADN1
       16356279          No_PP                           360     ADN1
       16356280          No_PP                           360     ADN1
       16356281          No_PP                           360     ADN1
       16356282          No_PP                           360     ADN1
       16356283          No_PP                           360     ADN1
       16356284          No_PP                           360     ADN1
       16356285          No_PP                           360     ADN1
       16356286          No_PP                           360     ADN1
       16356287          No_PP                           360     ADN1
       16356288          No_PP                           360     ADN1
       16356289          No_PP                           360     ADN1
       16356290          No_PP                           360     ADN1
       16356291          No_PP                           360     ADN1
       16356292          No_PP                           360     ADN1
       16356293          No_PP                           360     ADN1
       16356294          No_PP                           360     ADN1
       16356222          No_PP                           360     ADN1
       16356223          No_PP                           360     ADN1
       16356224          No_PP                           360     ADN1
       16356225          No_PP                           360     ADN1
       16356226          No_PP                           360     ADN1
       16356227          No_PP                           360     ADN1
       16356228          No_PP                           360     ADN1
       16356229          No_PP                           360     ADN1
       16356230          No_PP                           360     ADN1
       16356231          No_PP                           360     ADN1
       16356232          No_PP                           360     ADN1
       16356234          No_PP                           360     ADN1
       16356235          No_PP                           360     ADN1
       16356236          No_PP                           360     ADN1
       16356237          No_PP                           360     ADN1
       16356238          No_PP                           360     ADN1
       16356239          No_PP                           360     ADN1
       16356240          No_PP                           360     ADN1
       16356241          No_PP                           360     ADN1
       16356242          No_PP                           360     ADN1
       16356243          No_PP                           360     ADN1
       16356244          No_PP                           360     ADN1
       16356246          No_PP                           360     ADN1
       16356250          No_PP                           360     ADN1
       16356251          No_PP                           360     ADN1
       16356252          No_PP                           360     ADN1
       16356373          No_PP                           360     ADN1
       16356374          No_PP                           360     ADN1
       16356375          No_PP                           360     ADN1
       16356376          No_PP                           360     ADN1
       16356377          No_PP                           360     ADN1
       16356378          No_PP                           360     ADN1
       16356379          No_PP                           360     ADN1
       16356380          No_PP                           360     ADN1
       16356381          No_PP                           360     ADN1
       16356382          No_PP                           360     ADN1
       16356383          No_PP                           360     ADN1
       16356384          No_PP                           360     ADN1
       16356385          No_PP                           360     ADN1
       16356386          No_PP                           360     ADN1
       16356387          No_PP                           360     ADN1
       16356389          No_PP                           360     ADN1
       16356390          No_PP                           360     ADN1
       16356391          No_PP                           360     ADN1
       16356392          No_PP                           360     ADN1
       16356393          No_PP                           360     ADN1
       16356394          No_PP                           360     ADN1
       16356395          No_PP                           360     ADN1
       16356396          No_PP                           360     ADN1
       16356397          No_PP                           360     ADN1
       16356398          No_PP                           360     ADN1
       16356399          No_PP                           360     ADN1
       16356400          No_PP                           360     ADN1
       16356401          No_PP                           360     ADN1
       16356402          No_PP                           360     ADN1
       16356403          No_PP                           360     ADN1
       16356404          No_PP                           360     ADN1
       16356405          No_PP                           360     ADN1
       16356406          No_PP                           360     ADN1
       16356407          No_PP                           360     ADN1
       16356408          No_PP                           360     ADN1
       16356409          No_PP                           360     ADN1
       16356410          No_PP                           360     ADN1
       16356411          No_PP                           360     ADN1
       16356412          No_PP                           360     ADN1
       16356413          No_PP                           360     ADN1
       16356414          No_PP                           360     ADN1
       16356415          No_PP                           360     ADN1
       16356416          No_PP                           360     ADN1
       16356417          No_PP                           360     ADN1
       16356419          No_PP                           360     ADN1
       16356420          No_PP                           360     ADN1
       16356421          No_PP                           360     ADN1
       16356422          No_PP                           360     ADN1
       16356423          No_PP                           360     ADN1
       16356424          No_PP                           360     ADN1
       16356425          No_PP                           360     ADN1
       16356426          No_PP                           360     ADN1
       16356427          No_PP                           360     ADN1
       16356428          No_PP                           360     ADN1
       16356429          No_PP                           360     ADN1
       16356430          No_PP                           360     ADN1
       16356431          No_PP                           360     ADN1
       16356432          No_PP                           360     ADN1
       16356433          No_PP                           360     ADN1
       16356434          No_PP                           360     ADN1
       16356435          No_PP                           360     ADN1
       16356436          No_PP                           360     ADN1
       16356437          No_PP                           360     ADN1
       16356438          No_PP                           360     ADN1
       16356439          No_PP                           360     ADN1
       16356440          No_PP                           360     ADN1
       16356441          No_PP                           360     ADN1
       16356442          No_PP                           360     ADN1
       16356443          No_PP                           360     ADN1
       16356444          No_PP                           360     ADN1
       16356445          No_PP                           360     ADN1
       16356446          No_PP                           360     ADN1
       16356447          No_PP                           360     ADN1
       16356448          No_PP                           360     ADN1
       16356449          No_PP                           360     ADN1
       16356450          No_PP                           360     ADN1
       16356451          No_PP                           360     ADN1
       16356452          No_PP                           360     ADN1
       16356453          No_PP                           360     ADN1
       16356454          No_PP                           360     ADN1
       16356455          No_PP                           360     ADN1
       16356456          No_PP                           360     ADN1
       16356457          No_PP                           360     ADN1
       16356458          No_PP                           360     ADN1
       16356459          No_PP                           360     ADN1
       16356460          No_PP                           360     ADN1
       16356461          No_PP                           360     ADN1
       16356462          No_PP                           360     ADN1
       16356463          No_PP                           360     ADN1
       16356464          No_PP                           360     ADN1
       16356465          No_PP                           360     ADN1
       16356466          No_PP                           360     ADN1
       16356467          No_PP                           360     ADN1
       16356468          No_PP                           360     ADN1
       16356469          No_PP                           360     ADN1
       16356470          No_PP                           360     ADN1
       16356471          No_PP                           360     ADN1
       16356472          No_PP                           360     ADN1
       16356473          No_PP                           360     ADN1
       16356327          No_PP                           360     ADN1
       16356328          No_PP                           360     ADN1
       16356330          No_PP                           360     ADN1
       16356331          No_PP                           360     ADN1
       16356332          No_PP                           360     ADN1
       16356333          No_PP                           360     ADN1
       16356334          No_PP                           360     ADN1
       16356335          No_PP                           360     ADN1
       16356336          No_PP                           360     ADN1
       16356337          No_PP                           360     ADN1
       16356338          No_PP                           360     ADN1
       16356339          No_PP                           360     ADN1
       16356340          No_PP                           360     ADN1
       16356357          No_PP                           360     ADN1
       16356359          No_PP                           360     ADN1
       16356360          No_PP                           360     ADN1
       16356361          No_PP                           360     ADN1
       16356362          No_PP                           360     ADN1
       16356363          No_PP                           360     ADN1
       16356364          No_PP                           360     ADN1
       16356365          No_PP                           360     ADN1
       16356366          No_PP                           360     ADN1
       16356367          No_PP                           360     ADN1
       16356368          No_PP                           360     ADN1
       16356369          No_PP                           360     ADN1
       16356371          No_PP                           360     ADN1
       16356372          No_PP                           360     ADN1
       16356343          No_PP                           360     ADN1
       16356344          No_PP                           360     ADN1
       16356345          No_PP                           360     ADN1
       16356346          No_PP                           360     ADN1
       16356347          No_PP                           360     ADN1
       16356348          No_PP                           360     ADN1
       16356349          No_PP                           360     ADN1
       16356351          No_PP                           360     ADN1
       16356352          No_PP                           360     ADN1
       16356353          No_PP                           360     ADN1
       16356354          No_PP                           360     ADN1
       16356355          No_PP                           360     ADN1
       16356356          No_PP                           360     ADN1
       16356295          No_PP                           360     ADN1
       16356296          No_PP                           360     ADN1
       16356297          No_PP                           360     ADN1
       16356298          No_PP                           360     ADN1
       16356299          No_PP                           360     ADN1
       16356300          No_PP                           360     ADN1
       16356301          No_PP                           360     ADN1
       16356302          No_PP                           360     ADN1
       16356303          No_PP                           360     ADN1
       16356304          No_PP                           360     ADN1
       16356305          No_PP                           360     ADN1
       16356306          No_PP                           360     ADN1
       16356307          No_PP                           360     ADN1
       16356308          No_PP                           360     ADN1
       16356309          No_PP                           360     ADN1
       16356310          No_PP                           360     ADN1
       16356311          No_PP                           360     ADN1
       16356312          No_PP                           360     ADN1
       16356313          No_PP                           360     ADN1
       16356314          No_PP                           360     ADN1
       16356315          No_PP                           360     ADN1
       16356317          No_PP                           360     ADN1
       16356319          No_PP                           360     ADN1
       16356320          No_PP                           360     ADN1
       16356321          No_PP                           360     ADN1
       16356322          No_PP                           360     ADN1
       16356323          No_PP                           360     ADN1
       16356324          No_PP                           360     ADN1
       16356325          No_PP                           360     ADN1
       16356326          No_PP                           360     ADN1
       16357495          No_PP                           360     ADN1
       16357496          No_PP                           360     ADN1
       16357497          No_PP                           360     ADN1
       16357498          No_PP                           360     ADN1
       16357445          No_PP                           360     ADN1
       16357446          No_PP                           360     ADN1
       16357447          No_PP                           360     ADN1
       16357448          No_PP                           360     ADN1
       16357449          No_PP                           360     ADN1
       16357450          No_PP                           360     ADN1
       16357451          No_PP                           360     ADN1
       16357452          No_PP                           360     ADN1
       16357453          No_PP                           360     ADN1
       16357454          No_PP                           360     ADN1
       16357455          No_PP                           360     ADN1
       16357456          No_PP                           360     ADN1
       16357457          No_PP                           360     ADN1
       16357458          No_PP                           360     ADN1
       16357459          No_PP                           360     ADN1
       16357460          No_PP                           360     ADN1
       16357461          No_PP                           360     ADN1
       16357462          No_PP                           360     ADN1
       16357463          No_PP                           360     ADN1
       16357464          No_PP                           360     ADN1
       16357465          No_PP                           360     ADN1
       16357466          No_PP                           360     ADN1
       16357467          No_PP                           360     ADN1
       16357468          No_PP                           360     ADN1
       16357469          No_PP                           360     ADN1
       16357470          No_PP                           360     ADN1
       16357471          No_PP                           360     ADN1
       16357472          No_PP                           360     ADN1
       16357473          No_PP                           360     ADN1
       16357474          No_PP                           360     ADN1
       16357475          No_PP                           360     ADN1
       16357476          No_PP                           360     ADN1
       16357477          No_PP                           360     ADN1
       16357478          No_PP                           360     ADN1
       16357479          No_PP                           360     ADN1
       16357480          No_PP                           360     ADN1
       16357481          No_PP                           360     ADN1
       16357482          No_PP                           360     ADN1
       16357483          No_PP                           360     ADN1
       16357484          No_PP                           360     ADN1
       16357485          No_PP                           360     ADN1
       16357486          No_PP                           360     ADN1
       16357487          No_PP                           360     ADN1
       16357488          No_PP                           360     ADN1
       16357489          No_PP                           360     ADN1
       16357490          No_PP                           360     ADN1
       16357491          No_PP                           360     ADN1
       16357492          No_PP                           360     ADN1
       16357493          No_PP                           360     ADN1
       16357494          No_PP                           360     ADN1
       16357358          No_PP                           360     ADN1
       16357359          No_PP                           360     ADN1
       16357360          No_PP                           360     ADN1
       16357361          No_PP                           360     ADN1
       16357362          No_PP                           360     ADN1
       16357363          No_PP                           360     ADN1
       16357364          No_PP                           360     ADN1
       16357365          No_PP                           360     ADN1
       16357366          No_PP                           360     ADN1
       16357367          No_PP                           360     ADN1
       16357368          No_PP                           360     ADN1
       16357369          No_PP                           360     ADN1
       16357370          No_PP                           360     ADN1
       16357371          No_PP                           360     ADN1
       16357372          No_PP                           360     ADN1
       16357373          No_PP                           360     ADN1
       16357374          No_PP                           360     ADN1
       16357375          No_PP                           360     ADN1
       16357376          No_PP                           360     ADN1
       16357377          No_PP                           360     ADN1
       16357378          No_PP                           360     ADN1
       16357379          No_PP                           360     ADN1
       16357380          No_PP                           360     ADN1
       16357381          No_PP                           360     ADN1
       16357382          No_PP                           360     ADN1
       16357383          No_PP                           360     ADN1
       16357384          No_PP                           360     ADN1
       16357385          No_PP                           360     ADN1
       16357386          No_PP                           360     ADN1
       16357387          No_PP                           360     ADN1
       16357388          No_PP                           360     ADN1
       16357389          No_PP                           360     ADN1
       16357390          No_PP                           360     ADN1
       16357391          No_PP                           360     ADN1
       16357392          No_PP                           360     ADN1
       16357393          No_PP                           360     ADN1
       16357394          No_PP                           360     ADN1
       16357395          No_PP                           360     ADN1
       16357396          No_PP                           360     ADN1
       16357397          No_PP                           360     ADN1
       16357398          No_PP                           360     ADN1
       16357400          No_PP                           360     ADN1
       16357401          No_PP                           360     ADN1
       16357402          No_PP                           360     ADN1
       16357403          No_PP                           360     ADN1
       16357404          No_PP                           360     ADN1
       16357405          No_PP                           360     ADN1
       16357406          No_PP                           360     ADN1
       16357407          No_PP                           360     ADN1
       16357408          No_PP                           360     ADN1
       16357409          No_PP                           360     ADN1
       16357410          No_PP                           360     ADN1
       16357411          No_PP                           360     ADN1
       16357412          No_PP                           360     ADN1
       16357413          No_PP                           360     ADN1
       16357414          No_PP                           360     ADN1
       16357415          No_PP                           360     ADN1
       16357416          No_PP                           360     ADN1
       16357417          No_PP                           360     ADN1
       16357418          No_PP                           360     ADN1
       16357419          No_PP                           360     ADN1
       16357420          No_PP                           360     ADN1
       16357421          No_PP                           360     ADN1
       16357422          No_PP                           360     ADN1
       16357423          No_PP                           360     ADN1
       16357424          No_PP                           360     ADN1
       16357425          No_PP                           360     ADN1
       16357426          No_PP                           360     ADN1
       16357427          No_PP                           360     ADN1
       16357428          No_PP                           360     ADN1
       16357430          No_PP                           360     ADN1
       16357431          No_PP                           360     ADN1
       16357432          No_PP                           360     ADN1
       16357433          No_PP                           360     ADN1
       16357434          No_PP                           360     ADN1
       16357435          No_PP                           360     ADN1
       16357436          No_PP                           360     ADN1
       16357437          No_PP                           360     ADN1
       16357438          No_PP                           360     ADN1
       16357439          No_PP                           360     ADN1
       16357440          No_PP                           360     ADN1
       16357441          No_PP                           360     ADN1
       16357442          No_PP                           360     ADN1
       16357443          No_PP                           360     ADN1
       16357444          No_PP                           360     ADN1
       16231295          No_PP                           360     ADN1
       16231296          No_PP                           360     ADN1
       16231297          No_PP                           360     ADN1
       16231298          No_PP                           360     MADN
       16231299          No_PP                           360     ADN1
       16231300          No_PP                           360     ADN1
       16231301          No_PP                           360     MADN
       16231302          No_PP                           360     ADN1
       16231303          No_PP                           360     ADN1
       16231304          No_PP                           360     MADN
       16231305          No_PP                           360     ADN1
       16231306          No_PP                           360     ADN1
       16231307          No_PP                           360     MADN
       16231308          No_PP                           360     MADN
       16231309          No_PP                           360     MADN
       16231289          No_PP                           360     ADN1
       16231290          No_PP                           360     MADN
       16231291          No_PP                           360     ADN1
       16231292          No_PP                           360     MADN
       16231293          No_PP                           360     MADN
       16231294          No_PP                           360     MADN
       16231254          No_PP                           360     ADN1
       16231255          No_PP                           360     MADN
       16231256          No_PP                           360     MADN
       16231257          No_PP                           360     ADN1
       16231258          No_PP                           360     MADN
       16231259          No_PP                           360     MADN
       16231260          No_PP                           360     MADN
       16231261          No_PP                           360     MADN
       16231262          No_PP                           360     MADN
       16231264          No_PP                           360     MADN
       16231265          No_PP                           360     ADN1
       16231266          No_PP                           360     MADN
       16231267          No_PP                           360     MADN
       16231268          No_PP                           360     ADN1
       16231269          No_PP                           360     ADN1
       16231270          No_PP                           360     ADN1
       16231271          No_PP                           360     ADN1
       16231272          No_PP                           360     ADN1
       16231273          No_PP                           360     MADN
       16231274          No_PP                           360     MADN
       16231275          No_PP                           360     MADN
       16231276          No_PP                           360     MADN
       16231277          No_PP                           360     ADN1
       16231278          No_PP                           360     MADN
       16231280          No_PP                           360     MADN
       16231281          No_PP                           360     ADN1
       16231282          No_PP                           360     ADN1
       16231283          No_PP                           360     MADN
       16231284          No_PP                           360     ADN1
       16231285          No_PP                           360     MADN
       16231286          No_PP                           360     MADN
       16231287          No_PP                           360     MADN
       16231288          No_PP                           360     ADN1
       16231228          No_PP                           360     ADN1
       16231229          No_PP                           360     MADN
       16231230          No_PP                           360     MADN
       16231231          No_PP                           360     ADN1
       16231232          No_PP                           360     MADN
       16231233          No_PP                           360     ADN1
       16231234          No_PP                           360     ADN1
       16231235          No_PP                           360     ADN1
       16231236          No_PP                           360     MADN
       16231237          No_PP                           360     MADN
       16231238          No_PP                           360     MADN
       16231239          No_PP                           360     MADN
       16231240          No_PP                           360     ADN1
       16231241          No_PP                           360     MADN
       16231242          No_PP                           360     ADN1
       16231243          No_PP                           360     MADN
       16231244          No_PP                           360     MADN
       16231245          No_PP                           360     ADN1
       16231246          No_PP                           360     MADN
       16231247          No_PP                           360     ADN1
       16231248          No_PP                           360     MADN
       16231250          No_PP                           360     MADN
       16231252          No_PP                           360     ADN1
       16231253          No_PP                           360     ADN1
       16231217          No_PP                           360     ADN1
       16231218          No_PP                           360     ADN1
       16231219          No_PP                           360     MADN
       16231220          No_PP                           360     ADN1
       16231221          No_PP                           360     ADN1
       16231222          No_PP                           360     MADN
       16231223          No_PP                           360     MADN
       16231224          No_PP                           360     MADN
       16231225          No_PP                           360     ADN1
       16231226          No_PP                           360     MADN
       16231227          No_PP                           360     MADN
       16592923          No_PP                           360     ADN1
       16592924          No_PP                           360     ADN1
       16592925          No_PP                           360     ADN1
       16592926          No_PP                           360     ADN1
       16592927          No_PP                           360     ADN1
       16592928          No_PP                           360     ADN1
       16592929          No_PP                           360     ADN1
       16592930          No_PP                           360     ADN1
       16592931          No_PP                           360     ADN1
       16592932          No_PP                           360     ADN1
       16592933          No_PP                           360     ADN1
       16592934          No_PP                           360     ADN1
       16592882          No_PP                           360     ADN1
       16592883          No_PP                           360     ADN1
       16592884          No_PP                           360     ADN1
       16592885          No_PP                           360     ADN1
       16592886          No_PP                           360     ADN1
       16592887          No_PP                           360     ADN1
       16592888          No_PP                           360     ADN1
       16592889          No_PP                           360     ADN1
       16592890          No_PP                           360     ADN1
       16592891          No_PP                           360     ADN1
       16592892          No_PP                           360     ADN1
       16592893          No_PP                           360     ADN1
       16592894          No_PP                           360     ADN1
       16592895          No_PP                           360     ADN1
       16592896          No_PP                           360     ADN1
       16592897          No_PP                           360     ADN1
       16592898          No_PP                           360     ADN1
       16592899          No_PP                           360     ADN1
       16592900          No_PP                           360     ADN1
       16592901          No_PP                           360     ADN1
       16592902          No_PP                           360     ADN1
       16592903          No_PP                           360     ADN1
       16592904          No_PP                           360     ADN1
       16592905          No_PP                           360     ADN1
       16592906          No_PP                           360     ADN1
       16592907          No_PP                           360     ADN1
       16592908          No_PP                           360     ADN1
       16592909          No_PP                           360     ADN1
       16592910          No_PP                           360     ADN1
       16592911          No_PP                           360     ADN1
       16592912          No_PP                           360     ADN1
       16592913          No_PP                           360     ADN1
       16592914          No_PP                           360     ADN1
       16592916          No_PP                           360     ADN1
       16592917          No_PP                           360     ADN1
       16592918          No_PP                           360     ADN1
       16592919          No_PP                           360     ADN1
       16592920          No_PP                           360     ADN1
       16592921          No_PP                           360     ADN1
       16592922          No_PP                           360     ADN1
       16592935          No_PP                           360     ADN1
       16592936          No_PP                           360     ADN1
       16592937          No_PP                           360     ADN1
       16592938          No_PP                           360     ADN1
       16592939          No_PP                           360     ADN1
       16592940          No_PP                           360     ADN1
       16592941          No_PP                           360     ADN1
       16592942          No_PP                           360     ADN1
       16592943          No_PP                           360     ADN1
       16592944          No_PP                           360     ADN1
       16592945          No_PP                           360     ADN1
       16592946          No_PP                           360     ADN1
       16592947          No_PP                           360     ADN1
       16592948          No_PP                           360     ADN1
       16592949          No_PP                           360     ADN1
       16592950          No_PP                           360     ADN1
       16592951          No_PP                           360     ADN1
       16232930          No_PP                           360     ALT1
       16232931          No_PP                           360     ALT1
       16232933          No_PP                           360     ALT1
       16232934          No_PP                           360     ALT1
       16232935          No_PP                           360     ALT1
       16232936          No_PP                           360     ALT1
       16232937          No_PP                           360     ALT1
       16242606          No_PP                           360     ADN1
       16242617          No_PP                           360     ADN1
       16242618          No_PP                           360     ADN1
       16242620          No_PP                           360     ADN1
       16242621          No_PP                           360     ADN1
       16242623          No_PP                           360     ADN1
       16242625          No_PP                           360     ADN1
       16242626          No_PP                           360     ADN1
       16242627          No_PP                           360     ADN1
       16242629          No_PP                           360     ADN1
       16242630          No_PP                           360     ADN1
       16242634          No_PP                           360     ADN1
       16242635          No_PP                           360     ADN1
       16242636          No_PP                           360     ADN1
       16242637          No_PP                           360     ADN1
       16242638          No_PP                           360     ADN1
       16242639          No_PP                           360     ADN1
       16242641          No_PP                           360     ADN1
       16242642          No_PP                           360     ADN1
       16242643          No_PP                           360     ADN1
       16242644          No_PP                           360     ADN1
       16242645          No_PP                           360     ADN1
       16242646          No_PP                           360     ADN1
       16242647          No_PP                           360     ADN1
       16242648          No_PP                           360     ADN1
       16242649          No_PP                           360     ADN1
       16242650          No_PP                           360     ADN1
       16242653          No_PP                           360     ADN1
       16242545          No_PP                           360     ADN1
       16242547          No_PP                           360     ADN1
       16242548          No_PP                           360     ADN1
       16242549          No_PP                           360     ADN1
       16242550          No_PP                           360     ADN1
       16242552          No_PP                           360     ADN1
       16242554          No_PP                           360     ADN1
       16242555          No_PP                           360     ADN1
       16242556          No_PP                           360     ADN1
       16242557          No_PP                           360     ADN1
       16242558          No_PP                           360     ADN1
       16242559          No_PP                           360     ADN1
       16242560          No_PP                           360     ADN1
       16242561          No_PP                           360     ADN1
       16242562          No_PP                           360     ADN1
       16242564          No_PP                           360     ADN1
       16242569          No_PP                           360     ADN1
       16242570          No_PP                           360     ADN1
       16242571          No_PP                           360     ADN1
       16242572          No_PP                           360     ADN1
       16242574          No_PP                           360     ADN1
       16242575          No_PP                           360     ADN1
       16242576          No_PP                           360     ADN1
       16242578          No_PP                           360     ADN1
       16242579          No_PP                           260     ADN1
       16242583          No_PP                           360     ADN1
       16242584          No_PP                           360     ADN1
       16242585          No_PP                           360     ADN1
       16242586          No_PP                           360     ADN1
       16242587          No_PP                           360     ADN1
       16242588          No_PP                           360     ADN1
       16242589          No_PP                           360     ADN1
       16242590          No_PP                           360     ADN1
       16242591          No_PP                           360     ADN1
       16242592          No_PP                           360     ADN1
       16242593          No_PP                           360     ADN1
       16242595          No_PP                           360     ADN1
       16242596          No_PP                           360     ADN1
       16242597          No_PP                           360     ADN1
       16242599          No_PP                           360     ADN1
       16242600          No_PP                           360     ADN1
       16242603          No_PP                           360     ADN1
       16242604          No_PP                           360     ADN1
       16242605          No_PP                           360     ADN1
       16242607          No_PP                           360     ADN1
       16242608          No_PP                           360     ADN1
       16242609          No_PP                           360     ADN1
       16242610          No_PP                           360     ADN1
       16242613          No_PP                           360     ADN1
       16242614          No_PP                           360     ADN1
       16242616          No_PP                           360     ADN1
       16242540          No_PP                           360     ADN1
       16242541          No_PP                           360     ADN1
       16242542          No_PP                           360     ADN1
       16242543          No_PP                           360     ADN1

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      C

     

    [RESERVED]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

    EXHIBIT
      D-1

    REQUEST
      FOR RELEASE OF DOCUMENTS

     

    
      	
              To:

            	
              Wells
                Fargo Bank, N.A.

            

    

    1015
      10th
      Avenue
      S.E.

    Minneapolis,
      MN 55414-0031

    Attn:
      Inventory Control

     

    
      	
              RE:

            	
              Custodial
                Agreement, dated as of

            

    

    September
      29, 2006, among SAMI II,

    Wells
      Fargo Bank, N.A., as Master Servicer

    and
      Securities Administrator, 

    Wells
      Fargo Bank, N.A., as Custodian,

    and
      Citibank, N.A., as Trustee 

     

    In
      connection with the administration of the Mortgage Loans held by you pursuant
      to
      the above-captioned Custodial 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
      D-2

    REQUEST
      FOR RELEASE OF DOCUMENTS

     

    
      	
              To:

            	
              Treasury
                Bank, A Division of Countrywide Bank
                N.A.

            

    

    4100
      E.
      Los Angeles Avenue

    Simi
      Valley, California 93063

    Facsimile:
      (805) 577-6069

    

    
      	
              RE:

            	
              Custodial
                Agreement, dated as of

            

    

    September
      29, 2006, among SAMI II,

    Wells
      Fargo Bank, N.A., as Master Servicer

    and
      Securities Administrator, 

    Treasury
      Bank, A Division of Countrywide Bank, N.A., as custodian,

    and
      Citibank, N.A., as Trustee 

     

    In
      connection with the administration of the Mortgage Loans held by you pursuant
      to
      the above-captioned Custodial 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 2006-4 Class
      R-I,
      Class R-II 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
                2006-4
                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 Citibank, N.A. (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 September 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 Citibank,
      N.A., 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

     

    [SELLER][Date]

     

    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
                2006-4
                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 Act;
                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

            

    

     

    
      
        

      

      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. 

       

    

    
 

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    
      	 	 	
              (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 September 1, 2006, among Structured Asset
      Mortgage Investments II Inc., Wells Fargo Bank, N.A., EMC Mortgage Corporation
      and Citibank, N.A., 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.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    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-1

     

    FORM
      OF
      WELLS FARGO CUSTODIAL AGREEMENT

    CUSTODIAL
      AGREEMENT

     

    THIS
      CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the
“Agreement’), dated as of September 29, 2006, by and among CITIBANK, N.A., 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
      September 1, 2006, relating to the issuance of Bear Stearns ARM Trust 2006-4,
      Mortgage Pass-Through Certificates, Series 2006-4 (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 Depositor and the
      Trustee an Initial Certification in the form annexed hereto as Exhibit One
      evidencing receipt (subject to any exceptions noted therein) of a Mortgage
      File
      for each of the Mortgage Loans listed on 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 Trustee or 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-Wells Fargo" (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, the Master Servicer and the Securities Administrator a report
      (in form and substance reasonably satisfactory to the Depositor) regarding
      the
      Custodian’s assessment of compliance with the Applicable Servicing Criteria as
      set forth in Exhibit Four 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 the
      Securities Administrator 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 hereto; and

     

    (b) deliver
      to the Depositor, the Master Servicer and the Securities Administrator, a report
      of a registered public accounting firm reasonably acceptable to the Master
      Servicer, the Depositor and the Securities Administrator 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:

               

              388
                Greenwich Street, 14th Floor

              New
                York, New York 10013

               

               

              Attention:

              Telecopy:

              Confirmation:

            	
              CITIBANK
                N.A., not individually but solely as Trustee

               

               

              By:________________________________     

              Name: 

              Title:
                

            
	 	 
	
              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 NEW YORK

            	
              )

            
	 	
              )ss.:

            
	
              COUNTY
                OF NEW YORK

            	
              )

            
	 	 

    

    On
      the
      29th
      day of
      September 2006 before me, a notary public in and for said State, personally
      appeared ______________, known to me to be a _________ of Citibank, 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 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
      29th
      day of
      September 2006 before me, a notary public in and for said State, personally
      appeared Stacey M. Taylor, known to me to be a Vice President 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
      29th
      day of
      September 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., 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 MINNESOTA

            	
              )

            
	 	
              )ss.:

            
	
              COUNTY
                OF HENNEPIN

            	
              )

            
	 	 

    

    On
      the
      29th
      day of
      September 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

     

    September
      29, 2006

     

    
      	
              Citibank,
                N.A.

              388
                Greenwich Street, 14th Floor

              New
                York, New York 10013

            	
              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 2006-4, Mortgage Pass-Through Certificates, Series
      2006-4

    

    
      	 	
              Re:

            	
              Custodial
                Agreement, dated as of September 29, 2006, by and among EMC Mortgage
                Corporation, Citibank, N.A., Structured Asset Mortgage Investments
                II Inc.
                and Wells Fargo Bank, N.A. relating to Bear Stearns ARM Trust 2006-4,
                Mortgage Pass-Through
                Certificates, Series 2006-4 

            
	 	 	 

    

    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__

     

    
      	
              Citibank,
                N.A.

              388
                Greenwich Street, 14th Floor

              New
                York, New York 10013

            	
              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 2006-4, Mortgage Pass-Through Certificates, Series
      2006-4

    

    
      	 	
              Re:

            	
              Custodial
                Agreement, dated as of September 29, 2006, by and among EMC Mortgage
                Corporation, Citibank, N.A., Structured Asset Mortgage Investments
                II Inc.
                and Wells Fargo Bank, N.A. relating to Bear Stearns ARM Trust 2006-4,
                Mortgage Pass-Through
                Certificates, Series 2006-4 

            
	 	 	 

    

    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__

     

    
      	
              Citibank,
                N.A.

              388
                Greenwich Street, 14th Floor

              New
                York, New York 10013

            	
              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 2006-4, Mortgage Pass-Through Certificates, Series
      2006-4

    

    
      	 	
              Re:

            	
              Custodial
                Agreement, dated as of September 29, 2006, by and among EMC Mortgage
                Corporation, Citibank, N.A., Structured Asset Mortgage Investments
                II Inc.
                and Wells Fargo Bank, N.A. relating to Bear Stearns ARM Trust 2006-4,
                Mortgage Pass-Through
                Certificates, Series 2006-4 

            
	 	 	 

    

    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
      FOUR

    

    SERVICING
      CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

    

    The
      assessment of compliance to be delivered by the Custodian shall address, at
      a
      minimum, the criteria identified below as “Applicable Servicing
      Criteria”:

    

    
      	
              Servicing
                Criteria

            	
              Applicable
                Servicing Criteria

            
	
              Reference

            	
              Criteria

            	 
	 	
              General
                Servicing Considerations

            	 
	
              1122(d)(1)(i)

            	
              Policies
                and procedures are instituted to monitor any performance or other
                triggers
                and events of default in accordance with the transaction
                agreements

            	 
	
              1122(d)(1)(ii)

            	
              If
                any material servicing activities are outsourced to third parties,
                policies and procedures are instituted to monitor the third party’s
                performance and compliance with such servicing activities

            	 
	
              1122(d)(1)(iii)

            	
              Any
                requirements in the transaction agreements to maintain a back-up
                servicer
                for the pool assets are maintained.

            	 
	
              1122(d)(1)(iv)

            	
              A
                fidelity bond and errors and omissions policy is in effect on the
                party
                participating in the servicing function throughout the reporting
                period in
                the amount of coverage required by and otherwise in accordance with
                the
                terms of the transaction agreements.

            	 
	 	
              Cash
                Collection and Administration

            	 
	
              1122(d)(2)(i)

            	
              Payments
                on pool assets are deposited into the appropriate custodial bank
                accounts
                and related bank clearing accounts no more than two business days
                following receipt, or such other number of days specified in the
                transaction agreements.

            	 
	
              1122(d)(2)(ii)

            	
              Disbursements
                made via wire transfer on behalf of an obligor or to an investor
                are made
                only by authorized personnel.

            	 
	
              1122(d)(2)(iii)

            	
              Advances
                of funds or guarantees regarding collections, cash flows or distributions,
                and any interest or other fees charged for such advances are made,
                reviewed and approved as specified in the transaction
                agreements.

            	 
	
              1122(d)(2)(iv)

            	
              The
                related accounts for the transaction, such as cash reserve accounts
                or
                accounts established as a form of overcollateralization, are separately
                maintained (e.g., with respect to commingling of cash) as set forth
                in the
                transaction agreements.

            	 
	
              1122(d)(2)(v)

            	
              Each
                custodial account is maintained at a federally insured depository
                institution as set forth in the transaction agreements. For purposes
                of
                this criterion, “federally insured depository institutions” with respect
                to a foreign financial institution means a foreign financial institution
                that meets the requirements of Rule 13k-1(b)(1) of the Securities
                Exchange
                Act.

            	 

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              1122(d)(2)(vi)

            	
              Unissued
                checks are safeguarded so as to prevent unauthorized
                access.

            	 
	
              1122(d)(2)(vii)

            	
              Reconciliations
                are prepared on a monthly basis for all asset-backed securities related
                bank accounts, including custodial accounts and related bank clearing
                accounts. These reconciliations are (A) mathematically accurate;
                (B)
                prepared within 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
                reconciliations; and (D) contain explanations for reconciling items,
                These
                reconciling items are resolved within 90 calendar days of their original
                identification, or such other number of days specified in the transaction
                agreements.

            	 
	 	
              Investor
                Remittances and Reporting

            	 
	
              1122(d)(3)(i)

            	
              Reports
                to investors, including those to be filed with the Commission, are
                maintained in accordance with the transaction agreements and applicable
                Commission requirements. Specifically, such reports (A) are prepared
                in
                accordance with timeframes and other terms set forth in the transaction
                agreements, (B) provide information calculated in accordance with
                the
                terms specified in the transaction agreements; (C) are filed with
                the
                Commission as required by its rules and regulations; and (D) agree
                with
                investors; or the trustee’s records as to the total unpaid principal
                balance and number of pool assets serviced by the
                servicer.

            	 
	
              1122(d)(3)(ii)

            	
              Amounts
                due to investors are allocated and remitted in accordance with timeframes,
                distribution priority and other terms set forth in the transaction
                agreements.

            	 
	
              1122(d)(3)(iii)

            	
              Disbursements
                made to an investor are posted within two business days to the servicer’s
                investor records, or such other number of days specified in the
                transaction agreements.

            	 

    

    
      	
              1122(d)(3)(iv)

            	
              Amounts
                remitted to investors per the investor reports agree with cancelled
                checks, or other form of payment, or custodial bank
                statements.

            	 
	 	
              Pool
                Asset Administration

            	 
	
              1122(d)(4)(i)

            	
              Collateral
                or security on pool assets is maintained as required by the transaction
                agreements or related asset pool documents.

            	
              √
                

            
	
              1122(d)(4)(ii)

            	
              Pool
                assets and related documents are safeguarded as required by the
                transaction agreements.

            	
              √
                

            
	
              1122(d)(4)(iii)

            	
              Any
                additions, removals or substitutions to the asset pool are made,
                reviewed
                and approved in accordance with any conditions or requirements in
                the
                transaction agreements

            	 
	
              1122(d)(4)(iv)

            	
              Payments
                on pool assets, including any payoffs, made in accordance with the
                related
                pool asset documents are posted to the servicer’s obligor records
                maintained no more than two business days after receipt, or such
                other
                number of days specified in the transaction agreements, and allocated
                to
                principal, interest or other items (e.g., escrow) in accordance with
                the
                related pool asset documents.

            	 
	
              1122(d)(4)(v)

            	
              The
                servicer’s records regarding the pool assets agree with the servicer’s
                records with respect to an obligor’s unpaid principal
                balance.

            	 
	
              1122(d)(4)(vi)

            	
              Changes
                with respect to the terms or status of an obligor’s pool asset (e.g., loan
                modifications or re-agings) are made, reviewed and approved by authorized
                personnel in accordance with the transaction agreements and related
                pool
                asset documents.

            	 
	
              1122(d)(4)(vii)

            	
              Loss
                mitigation of recovery actions (e.g., forbearance plans, modifications
                and
                deed in lieu of foreclosure, foreclosures and repossessions, as
                applicable) are initiated, conducted and concluded in accordance
                with the
                timeframes or other requirements established by the transaction
                documents.

            	 
	
              1122(d)(4)(viii)

            	
              Records
                documenting collection efforts are maintained during the period a
                pool
                asset is delinquent in accordance with the transaction agreements.,
                Such
                records are maintained in at least a monthly basis, or such other
                period
                specified in the transaction agreements, and describe the entity’s
                activities in monitoring delinquent pool assets including, for example,
                phone calls, letters and payment rescheduling plans in cases where
                delinquency is deemed temporary (e.g., illness or
                unemployment).

            	 
	
              1122(d)(4)(ix)

            	
              Adjustments
                to interest rates or rates of return for pool assets with variable
                rates
                are computed based on the related pool asset documents.

            	 
	
              1122(d)(4)(x)

            	
              Regarding
                any funds held in trust for an obligor (such as escrow accounts);
                (A) such
                funds are analyzed, in accordance with the obligor’s pool asset documents,
                on at least an annual basis, or such other period specified in the
                transaction agreements; (B) interest on such funds is paid, or credited,
                to obligors in accordance with applicable pool asset documents and
                state
                laws; and (C) such funds are returned to the obligor within 3- calendar
                days of full repayment of the related pool asset, or such other number
                of
                days specified in the transaction agreements.

            	 
	
              1122(d)(4)(xi)

            	
              Payments
                made on behalf of an obligor (such as tax ore insurance payments)
                are made
                on or before the related penalty or expiration dates, as indicated
                on the
                appropriate bills or notices for such payments, provided that such
                support
                has been received by the service at least 30 calendar days prior
                to these
                dates, or such other number of days specified in the transaction
                agreements.

            	 

    

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    
      	
              1122(d)(4)(xii)

            	
              Any
                late payment penalties in connection with any payment to be made
                on behalf
                of an obligor are paid from the servicer’s funds and not charged to the
                obligor, unless the late payment was due to the obligor’s error or
                omission.

            	 
	
              1122(d)(4)(xiii)

            	
              Disbursements
                made on behalf of an obligor are posted within two business days
                to the
                obligor’s records maintained by the servicer, or such other number of days
                specified in the transaction agreements.

            	 
	
              1122(d)(4)(xiv)

            	
              Delinquencies,
                charge-offs and uncollectible funds are recognized and recorded in
                accordance with the transaction agreements.

            	 
	
              1122(d)(4)(xv)

            	
              Any
                external enhancement or other support, identified in item 1114(a)(1)
                through (3) or item 1115 of Regulation AB, is maintained as set forth
                in
                the transaction agreements.

            	 

    

    

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    EXHIBIT
      G-2

     

    FORM
      OF
      TREASURY BANK CUSTODIAL AGREEMENT

     

    CUSTODIAL
      AGREEMENT

     

    THIS
      CUSTODIAL AGREEMENT (as amended and supplemented from time to time, the
“Agreement”), dated as of September 29, 2006, by and among CITIBANK, N.A., as
      trustee (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, NATIONAL ASSOCIATION, 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” or the
“Securities Administrator,” as applicable) and TREASURY BANK, A DIVISION OF
      COUNTRYWIDE 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 Securities Administrator, the Trustee
      and EMC Mortgage Corporation (the “Seller”) have entered into a Pooling and
      Servicing Agreement, dated as of September 1, 2006, relating to the issuance
      of
      Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through Certificates, Series 2006-4
      (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 relating to the
      mortgage loans (herein referred to as the “Mortgage Loans”) listed on Schedule I
      hereto (the “Mortgage Loan Schedule”) delivered by (i) the Depositor or the
      Master Servicer under the Pooling and Servicing Agreement and (ii) 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, the Securities Administrator 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 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 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 relating to the Mortgage Loans 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, at the direction of the
      Depositor (in written or electronic format), 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 Depositor and the
      Trustee an Initial Certification in the form annexed hereto as Exhibit One
      evidencing receipt (subject to any exceptions noted therein) of a Mortgage
      File
      for each of the Mortgage Loans.

     

    (b) Within
      90
      days of the Closing Date (or, with respect to any Substitute Mortgage Loans,
      within 5 Business Days after the receipt by the Trustee or the Custodian
      thereof), 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 relating to the Mortgage Loans, and
      shall execute and 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 (or, with respect to any Substitute
      Mortgage Loans, within 5 Business Days after the receipt by the Trustee or
      the
      Custodian thereof), the Custodian shall review the Mortgage Files relating
      to
      the Mortgage Loans as provided in Section 2.02 of the Pooling and Servicing
      Agreement and execute and deliver to the Depositor and the Trustee a Final
      Certification in the form annexed hereto as Exhibit Three evidencing the
      completeness of such Mortgage Files.

     

    (d) In
      reviewing the Mortgage Files relating to the Mortgage Loans 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 requesting party with a list of all of the documents
      missing from the Mortgage Loans then contained in 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 Master Servicer, the applicable Servicer
      and the Trustee.

     

    Section
      2.5. Custodian
      to Cooperate: Release of Mortgage Files.
      Upon
      receipt of written notice from the Master Servicer or the Trustee that the
      Seller has repurchased a Mortgage Loan pursuant to Article II of the Pooling
      and
      Servicing Agreement, and that the Repurchase Price therefor has been deposited
      in the Distribution Account, and a Request for Release (as defined below),
      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-2 to the Pooling and Servicing Agreement
      signed by an officer of the related 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 such Servicer upon request, as such
      list
      may from time to time be amended (each, a “Servicing Officer”) 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 to
      promptly release to such 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, which documents the Custodian will review to the
      extent provided in Article II of the Pooling and Servicing
      Agreement.

     

    From
      time
      to time as is appropriate for the servicing or foreclosure of any Mortgage
      Loan,
      including, for this purpose, collection under any Primary Mortgage Insurance
      Policy, the related Servicer shall (or if the related Servicer does not, then
      the Master Servicer may) deliver to the Custodian a Request for Release signed
      by a Servicing Officer requesting that possession of all of the related Mortgage
      File be released to such 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 related Mortgage Loan under any of the Insurance
      Policies. Upon receipt of the foregoing, the Custodian shall deliver such
      Mortgage File to the related Servicer. All Mortgage Files so released to the
      related Servicer shall be held by it in trust for the Trustee for the use and
      benefit of all present and future Certificateholders. The related Servicer
      shall
      cause each Mortgage File or any document therein so released to be returned
      to
      the Custodian when the need therefor by such Servicer no longer exists, unless
      (i) such Mortgage Loan has been liquidated and the Liquidation Proceeds relating
      to the related Mortgage Loan have been deposited in the Distribution Account
      or
      (ii) such 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 related 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 or the Master Servicer is required to deliver to the
      Custodian a Request for Release, such Servicer or the Master Servicer shall
      deliver two copies of the Request for Release if delivered in hard copy or
      such
      Servicer or the Master 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 such Request for Release.
      In connection with any Request for Release of a Mortgage File because of a
      repurchase of a Mortgage Loan, the assignment of mortgage and the related
      Mortgage Note shall be returned to the related Servicer or the Master Servicer,
      as applicable, for execution and endorsement, respectively, pursuant to a power
      of attorney from the Trustee and for delivery to the Seller. If the related
      Servicer or the Master Servicer does not have a power of attorney from the
      Trustee to execute the applicable assignment and to endorse the related Mortgage
      Note, such Request for Release shall be accompanied by an assignment of
      mortgage, without recourse, executed by the Trustee to the Seller and the
      related Mortgage Note shall be endorsed without recourse by the Trustee (if
      not
      in blank) and be returned to the related Servicer or the Master Servicer, as
      applicable, for delivery 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, or by the related Servicer
      or the Master Servicer pursuant to a power of attorney from 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 and if the related Servicer
      or
      the Master Servicer does not have a power of attorney from the Trustee to
      execute the applicable certificate of satisfaction or similar instrument, 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 or the Master Servicer, as
      applicable.

     

    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 agreement, substitution of liability agreement or sale
      of
      servicing agreement has been completed by forwarding to the Custodian the
      original of such assumption agreement, substitution of liability agreement
      or
      sale of servicing 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 and other documents constituting each Mortgage
      File relating to the Mortgage Loans which are delivered to the Custodian, the
      Custodian is exclusively the bailee and agent of the Trustee and has no
      instructions to hold any Mortgage Note or Mortgage File for the benefit of
      any
      person other than the Trustee and the Certificateholders and undertakes to
      perform such duties and only such duties as are specifically set forth in this
      Agreement. Except upon compliance with the provisions of Section 2.5 of this
      Agreement with respect to any Mortgage Loan, no Mortgage Note, Mortgage or
      Mortgage File shall be delivered by the Custodian to the Depositor, the Seller,
      any Servicer 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. Custodian’s
      Fees and Expenses.
      The
      Depositor covenants and agrees to cause the Seller to pay 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 [pursuant to a letter agreement
      between the Custodian and the Seller]. In addition, the Seller 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 notice of resignation, the Trustee shall either
      take
      custody of the Mortgage Files itself and give prompt notice thereof to the
      Depositor, the Master Servicer, the Servicers 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 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 any
      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 (provided such Person shall satisfy the requirements set forth in
      Section 3.7), 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, and any successor Custodian hereunder shall
      represent, that it is a depository institution subject to supervision or
      examination by a federal or state authority, has a combined capital and surplus
      of at least $15,000,000 and is qualified to do business in the jurisdictions
      in
      which it will hold any Mortgage File.

     

    Section
      3.8. Duties
      and Obligations of the Custodian.
      

     

    (a) The
      Custodian shall be under no duty or obligation to inspect, review or examine
      the
      Mortgage Files to determine that the contents thereof are appropriate for the
      represented purpose or that they have been actually recorded or that they are
      other than what they purport to be on their face. 

     

    (b) The
      Custodian shall not be responsible or liable for, and makes no representation
      or
      warranty with respect to, the validity, adequacy or perfection or any lien
      upon
      or security interest in the Mortgage Files. 

     

    (c) Any
      other
      provision of this Agreement to the contrary notwithstanding, the Custodian
      shall
      have no notice, and shall not be bound by any of the terms and conditions of
      any
      other document or agreement executed or delivered in connection with, or
      intended to control any part of, the transactions anticipated by or referred
      to
      in this Agreement unless the Custodian is a signatory party to that document
      or
      agreement. 

     

    (d) The
      Custodian may rely on and shall be protected in acting in good faith upon any
      certificate, instrument, opinion, notice, magnetic tape, letter, telegram or
      other document, or any security, delivered to it and in good faith believed
      by
      it to be genuine and to have been signed by the proper party or parties; but
      in
      the case of any loan document or other request, instruction, document or
      certificate which by any provision hereof is specifically required to be
      furnished to the Custodian, the Custodian shall be under a duty to examine
      the
      same to determine whether or not it conforms prima facie to the requirements
      of
      this Custodial Agreement.

     

    (e) The
      Custodian shall not be liable for any error of judgment, or for any act done
      or
      step taken or omitted by it, in good faith, or for any mistake of fact or law,
      or for anything that it may do or refrain from doing in connection therewith,
      except in the case of its negligent performance or omission. 

     

    (f) The
      Custodian shall have no obligation to verify the receipt of any such documents
      the existence of which was not made known to the Custodian by the Mortgage
      Files. 

     

    (g)
       The
      Custodian shall not be responsible for delays or failures in performance
      resulting from acts beyond its control. Such acts shall include, but not be
      limited to, acts of God, strikes, lockouts, riots, acts of war or terrorism,
      epidemics, nationalization, expropriation, currency restrictions, governmental
      regulations superimposed after the fact, fire, communication line failures,
      power failures, earthquakes or other disasters.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    

     

    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, the Master Servicer and the Securities
      Administrator with the provisions of Regulation AB and related rules and
      regulations of the Commission. The Depositor, the Master Servicer and the
      Securities Administrator 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 the Custodian agrees to comply with requests
      made
      by the Depositor, the Master Servicer and the Securities Administrator in good
      faith for delivery of information under these provisions on the basis of
      evolving interpretations of Regulation AB to the extent reasonably practicable,
      unless otherwise advised in writing by counsel. The Custodian shall cooperate
      reasonably with the Depositor, the Master Servicer and the Securities
      Administrator to deliver to the Depositor and the Master Servicer (including
      any
      of their respective 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, the Master Servicer
      and
      the Securities Administrator to permit the Depositor, the Master Servicer and
      the Securities Administrator 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 with respect
      to
      the Custodian set forth in the Prospectus Supplement under the caption
“Description of the Certificates—The Custodians—Treasury Bank” (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; (ii) there are no material legal or governmental proceedings pending
      (or known to be contemplated) against it that would affect or interfere with
      the
      performance of its obligations hereunder; and (iii) there are no affiliations,
      relationships or transactions relating to the Custodian with respect to the
      Depositor or any sponsor, issuing entity, servicer (other than Countrywide
      Home
      Loan Servicing LP), 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
      Pooling and Servicing Agreement, as identified by the Depositor to the Custodian
      in writing as of the Closing Date (each, a “Transaction Party”) that would
      affect or interfere with the performance of its obligations hereunder and have
      not been previously disclosed to the Depositor and the Trustee.

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

     

    (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 (1) 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, the
      Securities Administrator and the Master Servicer in writing of any material
      litigation or governmental proceedings pending against the Custodian (including
      any such proceedings known to be contemplated by the governmental authorities)
      that would be material to Certificateholders, and (b) provide to the Depositor,
      Securities Administrator and the Master Servicer 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, the Securities Administrator
      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 in which a Form 10-K is required to be
      filed with respect to the Trust, the Custodian shall:

     

    (a) deliver
      to the Depositor, the Master Servicer and the Securities Administrator a report
      (in form and substance reasonably satisfactory to the Depositor) regarding
      the
      Custodian’s assessment of compliance with the Applicable Servicing Criteria as
      set forth in Exhibit Four 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 the
      Securities Administrator 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 hereto; and

     

    (b) deliver
      to the Depositor, the Master Servicer and the Securities Administrator, a report
      of a registered public accounting firm reasonably acceptable to the Master
      Servicer, the Depositor and the Securities Administrator 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, the
      Master Servicer, the Securities Administrator 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
      (each, an “Indemnified Party”), 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
      the
      Custodian Disclosure and 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. 

     

    (b) In
      the
      case of any failure of performance described in clause (ii) of Section 4.5(a),
      the Custodian shall promptly reimburse the Depositor, the Securities
      Administrator and the Master Servicer for all costs reasonably incurred by
      the
      Depositor and the Master Servicer, respectively, in order to obtain the
      information, report, certification, accountants’ letter or other material not
      delivered as required by the Custodian.

     

    (c) 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.

     

    If
      the
      indemnification provided for herein is unavailable or insufficient to hold
      harmless any Indemnified Party, then the Custodian 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 Custodian on the other. 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 DEEMED A CONTRACT MADE UNDER THE LAWS OF THE STATE OF NEW
      YORK AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH AND GOVERNED BY
      THE
      LAWS OF THE STATE OF NEW YORK WITHOUT REFERENCE TO ITS CONFLICT OF LAWS RULES
      (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW, WHICH SHALL
      APPLY HERETO).

     

    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 on direction by the Trustee, but only upon direction accompanied
      by an Opinion of Counsel reasonably satisfactory to the Depositor to the effect
      that the failure to effect such recordation is likely to materially and
      adversely affect the interests of the Certificateholders.

     

    For
      the
      purpose of facilitating the recordation of this Agreement as herein provided
      and
      for other purposes, this Agreement may be executed simultaneously in any number
      of counterparts, each of which counterparts shall be deemed to be an original,
      and such counterparts shall constitute but one and the same
      instrument.

     

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

     

    [Signature
      page follows]

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    IN
      WITNESS WHEREOF, this Agreement is executed as of the date first above
      written.

     

    
      
        	 	 	 
	Address:	
                CITIBANK,
                  N.A.,

              
	 	
                
                  as
                    Trustee

                

              
	388
                Greenwich
                Street, 14th Floor	
                 

              
	New York, New York 10013	 	 
	Attention:
                Structured Finance Agency & Trust 	By:  	 
	BSARM
                2006-4	Name:	 
	Telecopy:
                (212) 816-5527	
                Title:

              	 
	 	
                 

              

      

       

      
        
          	 	 	 
	Address:	
                  STRUCTURED
                    ASSET MORTGAGE 

                
	 	
                  
                    INVESTMENTS
                      II INC.

                  

                
	383 Madison Avenue	 	 
	New
                  York, New York
                  10179	By:  	 
                  
	 	Name:	Baron
                  Silverstein
	 	
                  Title:

                	Vice
                  President
	 	
                   

                
	 	 

        

         

        
          
            	 	 	 
	Address:	
                    
                      WELLS
                        FARGO BANK, NATIONAL
                        ASSOCIATION, 

                    

                  
	 	
                    
                      as
                        Master Servicer and as Securities Administrator

                    

                  
	9062 Old Annapolis Road	 	 
	Columbia,
                    Maryland
                    21045	By:  	 
                    
	 	Name:	Stacey
                    Taylor
	 	
                    Title:

                  	Assistant
                    Vice President
	 	
                     

                  

          

           

          
            
              	 	 	 
	Address:	
                      TREASURY
                        BANK, A DIVISION OF COUNTRYWIDE BANK N.A., 

                    
	 	
                      
                        as
                          Custodian

                      

                    
	4100
                      E. Los
                      Angeles Avenue 	
                       

                    
	Simi Valley, California 93063
	 	 
	Attention:
                      Teresita Que 	By:  	 
	Telephone:
                      (805) 577-6028 	Name:	 
	Facsimile:
                      (805) 577-6069	
                      Title:

                    	 
	 	
                       

                    

            

             

          

        

      

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    

    

      

      
        	
                STATE
                  OF NEW YORK

              	
                )

              
	 	
                )ss:

              
	
                COUNTY
                  OF NEW YORK

              	
                )

              
	 	 

      

      On
        the
        29th
        day of
        September 2006 before me, a notary public in and for said State, personally
        appeared _____________________, known to me to be an _____________________
        of
        Citibank, N.A., a national banking association organized under the laws of
        the
        United States of America, 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 MARYLAND

              	
                )

              
	 	
                )
                  ss:

              
	
                COUNTY
                  OF HOWARD

              	
                )

              
	 	 

      

      On
        the
        29th
        day of
        September 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,
        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 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
        29th
        day of
        September 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., 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 CALIFORNIA

              	
                )

              
	 	
                )
                  ss:

              
	
                COUNTY
                  OF ___________

              	
                )

              
	 	 

      

      On
        the
        29th
        day of
        September 2006 before me, a notary public in and for said State, personally
        appeared ______________, known to me to be a __________________ of Treasury
        Bank, a division of Countrywide 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]

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        1

       

      Mortgage
        Loans

       

      [Provided
        upon Request]

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        ONE

       

      FORM
        OF
        CUSTODIAN INITIAL CERTIFICATION

       

      September
        29, 2006

       

      Citibank,
        N.A.

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013

      

      Structured
        Asset Mortgage Investments II Inc.

      383
        Park
        Avenue

      New
        York,
        New York 10179

       

      

      Attention:
        Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through Certificates, Series
        2006-4

      

      
        	 	
                Re:

              	
                Custodial
                  Agreement, dated as of September 29, 2006, by and among Citibank,
                  N.A.,
                  Structured Asset Mortgage Investments II Inc., Wells Fargo Bank,
                  National
                  Association and Treasury Bank, a division of Countrywide Bank N.A.
                  relating to Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through
                  Certificates, Series 2006-4

              

      

       

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.3 of the above-captioned Custodial Agreement, and
        subject to Section 2.02 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 (other than
        with
        respect to clause (b)(v) thereof, for which no review has been made) 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.

       

      TREASURY
        BANK, A DIVISION OF

      COUNTRYWIDE
        BANK N.A.

       

      By:______________________________________

      Name: 

      Title: 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        A TO EXHIBIT ONE

       

      Exceptions

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        TWO

       

      FORM
        OF
        CUSTODIAN INTERIM CERTIFICATION

       

      _________
        ___, 200__

       

      Citibank,
        N.A.

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013

      Attn:
        Structured Finance—Agency & Trust, BSARM 2006-4

      

      Structured
        Asset Mortgage Investments II Inc.

      383
        Park
        Avenue

      New
        York,
        New York 10179

       

      

      Attention:
        Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through Certificates, Series
        2006-4

      

       

      
        	 	
                Re:

              	
                Custodial
                  Agreement, dated as of September 29, 2006, by and among Citibank,
                  N.A.,
                  Structured Asset Mortgage Investments II Inc., Wells Fargo Bank,
                  National
                  Association and Treasury Bank, a division of Countrywide Bank N.A.
                  relating to Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through
                  Certificates, Series 2006-4

              
	 	 	 

      

      Ladies
        and Gentlemen:

      In
        accordance with Section 2.3 of the above-captioned Custodial 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 (other than with respect to clause (b)(v) thereof, for which no
        review
        has been made) 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 related 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.

       

      TREASURY
        BANK, A DIVISION OF

      COUNTRYWIDE
        BANK N.A.

       

      By: ___________________________

      Name:

      Title:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        A TO EXHIBIT TWO

       

      Exceptions

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        THREE

       

      FORM
        OF
        CUSTODIAN FINAL CERTIFICATION

       

      __________
        ____, 200__

       

      Citibank,
        N.A. 

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013

      Attn:
        Structured Finance—Agency & Trust, BSARM 2006-4

      

      Structured
        Asset Mortgage Investments II Inc.

      383
        Park
        Avenue

      New
        York,
        New York 10179

       

      

      Attention:
        Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through Certificates, Series
        2006-4

      
        	 	 	 
	 	
                Re:

              	
                Custodial
                  Agreement, dated as of September 29, 2006, by and among Citibank,
                  N.A.,
                  Structured Asset Mortgage Investments II Inc., Wells Fargo Bank,
                  National
                  Association and Treasury Bank, a division of Countrywide Bank N.A.
                  relating to Bear Stearns ARM Trust 2006-4, Mortgage Pass-Through
                  Certificates, Series
                  2006-4

              
	 	 	 

      

      Ladies
        and Gentlemen:

       

      In
        accordance with Section 2.3 of the above-captioned Custodial 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 (other than with respect to clause (b)(v) thereof, for which no
        review
        has been made) 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 an original of each document related thereto required
        to
        be recorded has been returned from the related recording office with evidence
        of
        recording thereon, or a certified copy has been obtained from the related
        recording office, with any exceptions listed in Schedule A attached
        hereto.

       

      Capitalized
        words and phrases used herein shall have the respective meanings assigned
        to
        them in the above-captioned Custodial Agreement.

      
         

        TREASURY
          BANK, A DIVISION OF

        COUNTRYWIDE
          BANK N.A.

         

        By:______________________________________

        Name: 

        Title: 

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        A TO EXHIBIT THREE

       

      Exceptions

       

      EXHIBIT
        FOUR

       

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

       

      The
        assessment of compliance to be delivered by the Custodian shall address,
        at a
        minimum, the criteria identified as below as “Applicable Servicing
        Criteria”;

       

      

        

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Servicing
                    Criteria

                
	
                  Reference

                	
                  Criteria

                	 
	 	
                  General
                    Servicing Considerations

                	 
	
                  1122(d)(1)(i)

                	
                  Policies
                    and procedures are instituted to monitor any performance or other
                    triggers
                    and events of default in accordance with the transaction
                    agreements

                	 
	
                  1122(d)(1)(ii)

                	
                  If
                    any material servicing activities are outsourced to third parties,
                    policies and procedures are instituted to monitor the third party’s
                    performance and compliance with such servicing activities

                	 
	
                  1122(d)(1)(iii)

                	
                  Any
                    requirements in the transaction agreements to maintain a back-up
                    servicer
                    for the pool assets are maintained.

                	 
	
                  1122(d)(1)(iv)

                	
                  A
                    fidelity bond and errors and omissions policy is in effect on
                    the party
                    participating in the servicing function throughout the reporting
                    period in
                    the amount of coverage required by and otherwise in accordance
                    with the
                    terms of the transaction agreements.

                	 
	 	
                   

                  Cash
                    Collection and Administration

                	 
	
                  1122(d)(2)(i)

                	
                  Payments
                    on pool assets are deposited into the appropriate custodial bank
                    accounts
                    and related bank clearing accounts no more than two business
                    days
                    following receipt and identification, or such other number of
                    days
                    specified in the transaction agreements.

                	 
	
                  1122(d)(2)(ii)

                	
                  Disbursements
                    made via wire transfer on behalf of an obligor or to an investor
                    are made
                    only by authorized personnel.

                	 
	
                  1122(d)(2)(iii)

                	
                  Advances
                    of funds or guarantees regarding collections, cash flows or distributions,
                    and any interest or other fees charged for such advances are
                    made,
                    reviewed and approved as specified in the transaction
                    agreements.

                	 
	
                  1122(d)(2)(iv)

                	
                  The
                    related accounts for the transaction, such as cash reserve accounts
                    or
                    accounts established as a form of overcollateralization, are
                    separately
                    maintained (e.g., with respect to commingling of cash) as set
                    forth in the
                    transaction agreements.

                	 
	
                  1122(d)(2)(v)

                	
                  Each
                    custodial account is maintained at a federally insured depository
                    institution as set forth in the transaction agreements. For purposes
                    of
                    this criterion, “federally insured depository institutions” with respect
                    to a foreign financial institution means a foreign financial
                    institution
                    that meets the requirements of Rule 13k-1(b)(1) of the Securities
                    Exchange
                    Act.

                	 
	
                  1122(d)(2)(vi)

                	
                  Unissued
                    checks are safeguarded so as to prevent unauthorized
                    access.

                	 
	
                  1122(d)(2)(vii)

                	
                  Reconciliations
                    are prepared on a monthly basis for all asset-backed securities
                    related
                    bank accounts, including custodial accounts and related bank
                    clearing
                    accounts. These reconciliations are (A) mathematically accurate;
                    (B)
                    prepared within 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
                    reconciliations; and (D) contain explanations for reconciling
                    items, These
                    reconciling items are resolved within 90 calendar days of their
                    original
                    identification, or such other number of days specified in the
                    transaction
                    agreements.

                	 
	 	
                   

                  Investor
                    Remittances and Reporting

                	 
	
                  1122(d)(3)(i)

                	
                  Reports
                    to investors, including those to be filed with the Commission,
                    are
                    maintained in accordance with the transaction agreements and
                    applicable
                    Commission requirements. Specifically, such reports (A) are prepared
                    in
                    accordance with timeframes and other terms set forth in the transaction
                    agreements, (B) provide information calculated in accordance
                    with the
                    terms specified in the transaction agreements; (C) are filed
                    with the
                    Commission as required by its rules and regulations; and (D)
                    agree with
                    investors; or the trustee’s records as to the total unpaid principal
                    balance and number of pool assets serviced by the
                    servicer.

                	 
	
                  1122(d)(3)(ii)

                	
                  Amounts
                    due to investors are allocated and remitted in accordance with
                    timeframes,
                    distribution priority and other terms set forth in the transaction
                    agreements.

                	 
	
                  1122(d)(3)(iii)

                	
                  Disbursements
                    made to an investor are posted within two business days to the
                    servicer’s
                    investor records, or such other number of days specified in the
                    transaction agreements.

                	 
	
                  1122(d)(3)(iv)

                	
                  Amounts
                    remitted to investors per the investor reports agree with cancelled
                    checks, or other form of payment, or custodial bank
                    statements.

                	 
	 	
                   

                  Pool
                    Asset Administration

                	 
	
                  1122(d)(4)(i)

                	
                  Collateral
                    or security on pool assets is maintained as required by the transaction
                    agreements or related asset pool documents.

                	
                  √

                
	
                  1122(d)(4)(ii)

                	
                  Pool
                    assets and related documents are safeguarded as required by the
                    transaction agreements.

                	
                  √

                
	
                  1122(d)(4)(iii)

                	
                  Any
                    additions, removals or substitutions to the asset pool are made,
                    reviewed
                    and approved in accordance with any conditions or requirements
                    in the
                    transaction agreements

                	 
	
                  1122(d)(4)(iv)

                	
                  Payments
                    on pool assets, including any payoffs, made in accordance with
                    the related
                    pool asset documents are posted to the servicer’s obligor records
                    maintained no more than two business days after receipt, or such
                    other
                    number of days specified in the transaction agreements, and allocated
                    to
                    principal, interest or other items (e.g., escrow) in accordance
                    with the
                    related pool asset documents.

                	 
	
                  1122(d)(4)(v)

                	
                  The
                    servicer’s records regarding the pool assets agree with the servicer’s
                    records with respect to an obligor’s unpaid principal
                    balance.

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  1122(d)(4)(vi)

                	
                  Changes
                    with respect to the terms or status of an obligor’s pool asset (e.g., loan
                    modifications or re-agings) are made, reviewed and approved by
                    authorized
                    personnel in accordance with the transaction agreements and related
                    pool
                    asset documents.

                	 
	
                  1122(d)(4)(vii)

                	
                  Loss
                    mitigation of recovery actions (e.g., forbearance plans, modifications
                    and
                    deed in lieu of foreclosure, foreclosures and repossessions,
                    as
                    applicable) are initiated, conducted and concluded in accordance
                    with the
                    timeframes or other requirements established by the transaction
                    documents.

                	 
	
                  1122(d)(4)(viii)

                	
                  Records
                    documenting collection efforts are maintained during the period
                    a pool
                    asset is delinquent in accordance with the transaction agreements.,
                    Such
                    records are maintained in at least a monthly basis, or such other
                    period
                    specified in the transaction agreements, and describe the entity’s
                    activities in monitoring delinquent pool assets including, for
                    example,
                    phone calls, letters and payment rescheduling plans in cases
                    where
                    delinquency is deemed temporary (e.g., illness or
                    unemployment).

                	 
	
                  1122(d)(4)(ix)

                	
                  Adjustments
                    to interest rates or rates of return for pool assets with variable
                    rates
                    are computed based on the related pool asset documents.

                	 
	
                  1122(d)(4)(x)

                	
                  Regarding
                    any funds held in trust for an obligor (such as escrow accounts);
                    (A) such
                    funds are analyzed, in accordance with the obligor’s pool asset documents,
                    on at least an annual basis, or such other period specified in
                    the
                    transaction agreements; (B) interest on such funds is paid, or
                    credited,
                    to obligors in accordance with applicable pool asset documents
                    and state
                    laws; and (C) such funds are returned to the obligor within 3-
                    calendar
                    days of full repayment of the related pool asset, or such other
                    number of
                    days specified in the transaction agreements.

                	 
	
                  1122(d)(4)(xi)

                	
                  Payments
                    made on behalf of an obligor (such as tax ore insurance payments)
                    are made
                    on or before the related penalty or expiration dates, as indicated
                    on the
                    appropriate bills or notices for such payments, provided that
                    such support
                    has been received by the service at least 30 calendar days prior
                    to these
                    dates, or such other number of days specified in the transaction
                    agreements.

                	 
	
                  1122(d)(4)(xii)

                	
                  Any
                    late payment penalties in connection with any payment to be made
                    on behalf
                    of an obligor are paid from the servicer’s funds and not charged to the
                    obligor, unless the late payment was due to the obligor’s error or
                    omission.

                	 
	
                  1122(d)(4)(xiii)

                	
                  Disbursements
                    made on behalf of an obligor are posted within two business days
                    to the
                    obligor’s records maintained by the servicer, or such other number of
                    days
                    specified in the transaction agreements.

                	 
	
                  1122(d)(4)(xiv)

                	
                  Delinquencies,
                    charge-offs and uncollectible funds are recognized and recorded
                    in
                    accordance with the transaction agreements.

                	 
	
                  1122(d)(4)(xv)

                	
                  Any
                    external enhancement or other support, identified in item 1114(a)(1)
                    through (3) or item 1115 of Regulation AB, is maintained as set
                    forth in
                    the transaction agreements.

                	 

        

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H-1

       

      COUNTRYWIDE
        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

      
        	
                 

              	 	Page
	
                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.

              	
                13

              
	
                Section
                  2.02

              	
                Books
                  and Records; Transfers of Mortgage Loans.

              	
                14

              
	
                Section
                  2.03

              	
                Delivery
                  of Documents.

              	
                15

              
	
                 

                ARTICLE
                  III

              
	 	 	 
	
                REPRESENTATIONS
                  AND WARRANTIES;

              
	
                REMEDIES
                  AND BREACH

                 

              
	
                Section
                  3.01

              	
                Company
                  Representations and Warranties.

              	
                16

              
	
                Section
                  3.02

              	
                Representations
                  and Warranties Regarding Individual Mortgage Loans.

              	
                18

              
	
                Section
                  3.03

              	
                Remedies
                  for Breach of Representations and Warranties.

              	
                28

              
	
                Section
                  3.04

              	
                Indemnification.

              	
                29

              
	
                Section
                  3.05

              	
                Repurchase
                  Upon Conversion.

              	
                30

              
	
                Section
                  3.06

              	
                Restrictions
                  and Requirements Applicable in the Event

              	 
	
                 

              	
                
                  that
                    a Mortgage Loan is Acquired by a REMIC

                

              	
                30

              
	
                Section
                  3.07

              	
                Review
                  of Mortgage Loans

              	
                31

              
	
                 

                ARTICLE
                  IV

              
	 	 	 
	
                ADMINISTRATION
                  AND SERVICING OF MORTGAGE LOANS

                 

              
	
                Section
                  4.01

              	
                Company
                  to Act as Servicer.

              	
                32

              
	
                Section
                  4.02

              	
                Liquidation
                  of Mortgage Loans.

              	
                34

              
	
                Section
                  4.03

              	
                Collection
                  of Mortgage Loan Payments.

              	
                35

              
	
                Section
                  4.04

              	
                Establishment
                  of and Deposits to Custodial Account.

              	
                35

              
	
                Section
                  4.05

              	
                Permitted
                  Withdrawals From Custodial Account.

              	
                37

              
	
                Section
                  4.06

              	
                Establishment
                  of and Deposits to Escrow Account.

              	
                38

              
	
                Section
                  4.07

              	
                Permitted
                  Withdrawals From Escrow Account.

              	
                38

              
	
                Section
                  4.08

              	
                Payment
                  of Taxes, Insurance and Other Charges.

              	
                39

              

      

       

      
        
          
          

        

        
          -i-

          
            

          

        

        
          
          

        

      

      
        	 	 	 
	
                Section
                  4.09

              	
                Protection
                  of Accounts.

              	
                39

              
	
                Section
                  4.10

              	
                Maintenance
                  of Hazard Insurance.

              	
                40

              
	
                Section
                  4.11

              	
                Maintenance
                  of Mortgage Impairment Insurance.

              	
                42

              
	
                Section
                  4.12

              	
                Maintenance
                  of Fidelity Bond and Errors and Omissions Insurance.

              	
                42

              
	
                Section
                  4.13

              	
                Inspections.

              	
                42

              
	
                Section
                  4.14

              	
                Restoration
                  of Mortgaged Property.

              	
                43

              
	
                Section
                  4.15

              	
                Maintenance
                  of PMI and LPMI Policy; Claims.

              	
                43

              
	
                Section
                  4.16

              	
                Title,
                  Management and Disposition of REO Property.

              	
                45

              
	
                Section
                  4.17

              	
                Real
                  Estate Owned Reports.

              	
                46

              
	
                Section
                  4.18

              	
                Liquidation
                  Reports.

              	
                46

              
	
                Section
                  4.19

              	
                Reports
                  of Foreclosures and Abandonments of Mortgaged Property.

              	
                46

              
	
                Section
                  4.20

              	
                Notification
                  of Adjustments.

              	
                46

              
	
                 

                ARTICLE
                  V

              
	 	 	 
	
                PAYMENTS
                  TO PURCHASER

                 

              
	
                Section
                  5.01

              	
                Remittances.

              	
                47

              
	
                Section
                  5.02

              	
                Statements
                  to Purchaser.

              	
                47

              
	
                Section
                  5.03

              	
                Monthly
                  Advances by Company.

              	
                48

              
	
                 

                ARTICLE
                  VI

              
	 	 	 
	
                GENERAL
                  SERVICING PROCEDURES

                 

              
	
                Section
                  6.01

              	
                Transfers
                  of Mortgaged Property.

              	
                48

              
	
                Section
                  6.02

              	
                Satisfaction
                  of Mortgages and Release of Mortgage Files.

              	
                49

              
	
                Section
                  6.03

              	
                Servicing
                  Compensation.

              	
                50

              
	
                Section
                  6.04

              	
                Annual
                  Statement as to Compliance.

              	
                50

              
	
                Section
                  6.05

              	
                Annual
                  Independent Public Accountants’ Servicing Report.

              	
                51

              
	
                Section
                  6.06

              	
                Right
                  to Examine Company Records.

              	
                51

              
	
                 

                ARTICLE
                  VII

              
	 	 	 
	
                AGENCY
                  TRANSFER; PASS-THROUGH TRANSFER

                 

              
	
                Section
                  7.01

              	
                Removal
                  of Mortgage Loans from Inclusion Under this Agreement 

                Upon
                  an Agency Transfer, or a Pass-Through Transfer on One or 

                More
                  Reconstitution
                  Dates.

              	
                 

                51

              
	
                Section
                  7.02

              	
                Purchaser’s
                  Repurchase and Indemnification Obligations.

              	
                52

              
	
                 

                ARTICLE
                  VIII

              
	 	 	 
	
                COMPANY
                  TO COOPERATE

                 

              
	
                Section
                  8.01

              	
                Provision
                  of Information.

              	
                53

              
	
                Section
                  8.02

              	
                Financial
                  Statements; Servicing Facility.

              	
                53

              

      

      
        
          
          

        

        
          -ii-

          
            

          

        

        
          
          

        

      

      

       

      ARTICLE
        IX

       

      THE
        COMPANY

       

      
        	
                Section
                  9.01

              	
                Indemnification;
                  Third Party Claims.

              	
                54

              
	
                Section
                  9.02

              	
                Merger
                  or Consolidation of the Company.

              	
                54

              
	
                Section
                  9.03

              	
                Limitation
                  on Liability of Company and Others.

              	
                55

              
	
                Section
                  9.04

              	
                Limitation
                  on Resignation and Assignment by Company.

              	
                55

              

      

       

      ARTICLE
        X

       

      DEFAULT

       

      
        	
                Section
                  10.01

              	
                Events
                  of Default.

              	
                56

              
	
                Section
                  10.02

              	
                Waiver
                  of Defaults.

              	
                57

              

      

       

      ARTICLE
        XI

       

      TERMINATION

       

      
        	
                Section
                  11.01

              	
                Termination.

              	
                57

              
	
                Section
                  11.02

              	
                Termination
                  Without Cause.

              	
                58

              

      

       

      ARTICLE
        XII

       

      MISCELLANEOUS
        PROVISIONS

       

      
        	
                Section
                  12.01

              	
                Successor
                  to Company.

              	
                58

              
	
                Section
                  12.02

              	
                Amendment.

              	
                59

              
	
                Section
                  12.03

              	
                Governing
                  Law.

              	
                59

              
	
                Section
                  12.04

              	
                Duration
                  of Agreement.

              	
                59

              
	
                Section
                  12.05

              	
                Notices.

              	
                59

              
	
                Section
                  12.06

              	
                Severability
                  of Provisions.

              	
                60

              
	
                Section
                  12.07

              	
                Relationship
                  of Parties.

              	
                60

              
	
                Section
                  12.08

              	
                Execution;
                  Successors and Assigns.

              	
                60

              
	
                Section
                  12.09

              	
                Recordation
                  of Assignments of Mortgage.

              	
                60

              
	
                Section
                  12.10

              	
                Assignment
                  by Purchaser.

              	
                61

              
	
                Section
                  12.11

              	
                No
                  Personal Solicitation.

              	
                61

              

      

       

      
        
          
          

        

        
          -iii-

          
            

          

        

        
          
          

        

      

      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

              

      

      

       

      
        
          
          

        

        
          -iv-

          
            

          

        

        
          
          

        

         

      

      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”).

       

      WITNESSETH:

       

      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
        I

       

      DEFINITIONS

       

      Whenever
        used herein, the following words and phrases, unless the context 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.

       

      Agency
        Transfer:
        The
        sale or transfer by Purchaser of some or all of the Mortgage Loans to Fannie
        Mae
        under its Cash Purchase Program or its MBS Swap Program (Special Servicing
        Option) or to Freddie Mac under its Freddie Mac Cash Program or Gold PC Program,
        retaining the Company as “servicer thereunder”.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

       

      Agreement:
        This
        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:
        The
        value set forth in an appraisal made in connection with the origination of
        the
        related Mortgage Loan as the value of the Mortgaged Property. 

       

      Approved
        Flood Certification Provider:
        Any
        provider acceptable to Fannie Mae and Freddie Mac.

       

      Assignment
        and Conveyance:
        An
        Assignment and Conveyance in the form of Exhibit
        6
        to the
        Mortgage Loan Purchase Agreement dated as of the date hereof, by and between
        the
        Seller and the Purchaser.

       

      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.

       

      BIF:
        The
        Bank Insurance Fund, or any successor thereto.

       

      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 State of New York or California are authorized
        or
        obligated by law or executive order to be closed.

       

      Closing
        Date:
        The
        date set forth on the related Confirmation on which the Purchaser from time
        to
        time shall purchase and the Company from time to time shall sell, the Mortgage
        Loans listed on the related Mortgage Loan Schedule.

       

      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.

       

      Company:
        Countrywide Home Loans, Inc., or its successor in interest or assigns, or
        any
        successor to the Company under this Agreement appointed as herein
        provided.

       

      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. 

       

      Confirmation:
        The
        trade confirmation letter between the parties hereto which relates to the
        Mortgage Loans on the related Closing Date.

       

      Convertible
        Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the Mortgagor is permitted to convert the Mortgage Loan
        to a
        fixed-rate mortgage loan at any time between the first anniversary and the
        fifth
        anniversary of the origination of the mortgage loan.

      
        
          
          

        

        
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      Custodial
        Account:
        The
        separate account or accounts created and maintained pursuant to Section
        4.04.

       

      Custodial
        Agreement:
        That
        certain Custodial Agreement, dated as of November 23,1999 by and between
        the
        Purchaser and Wells Fargo Bank Minnesota, N.A.

       

      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:
        The
        date set forth on the related Confirmation.

       

      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.

       

      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 related Remittance Date.

       

      Disqualified
        Organization:
        An
        organization defined as such in Section 860E(e) of the Code.

       

      Due
        Date:
        The day
        of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive
        of any days of grace. With respect to the Mortgage Loans for which payment
        from
        the Mortgagor is due on a day other than the first day of the month, such
        Mortgage Loans will be treated as if the Monthly Payment is due on the first
        day
        of the month of such Due Date.

       

      Due
        Period:
        With
        respect to each Remittance Date, the prior calendar month.

       

      Eligible
        Investments:
        Any one
        or more of the obligations and securities listed below which investment provides
        for a date of maturity not later than the Determination Date in each
        month:

       

      (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; and

       

      (ii) federal
        funds, demand and time deposits in, certificates of deposits of, or bankers’
acceptances issued by, any depository institution or trust company incorporated
        or organized 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, so long as at the time of such investment or contractual commitment
        providing for such investment the commercial paper or other short-term debt
        obligations of such depository institution or trust company (or, in the case
        of
        a depository institution or trust company which is the principal subsidiary
        of a
        holding company, the commercial paper or other short-term debt obligations
        of
        such holding company) are rated “P-1” by Moody’s Investors Service, Inc. and the
        long-term debt obligations of such holding company) are rated “P-1” by Moody’s
        Investors Service, Inc. and the long-term debt obligations of such depository
        institution or trust company (or, in the case of a depository institution
        or
        trust company which is the principal subsidiary of a holding company, the
        long-term debt obligations of such holding company) are rated at least “Aa” by
        Moody’s Investors Service, Inc.;

      
        
          
          

        

        
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      (iii) investments
        and securities otherwise acceptable to Fannie Mae and Freddie Mac.

       

      provided,
        however,
        that no
        such instrument shall be an Eligible Investment if such instrument evidences
        either (i) a right to receive only interest payments with respect to the
        obligations underlying such instrument, or (ii) both principal and interest
        payments derived from obligations underlying such instrument and the principal
        and interest payments with respect to such instrument provide a yield to
        maturity of greater than 120% of the yield to maturity at par of such underlying
        obligations.

       

      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.

       

      Fannie
        Mae:
        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:
        A
        fidelity bond to be maintained by the Company pursuant to Section
        4.12.

       

      First
        Remittance Date:
        As
        stated in the related Mortgage Loan Purchase Agreement.

      
        
          
          

        

        
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      5/1
        ARM Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is fixed for the
        first
        five (5) years of the term of the related Mortgage Loan and which thereafter
        is
        converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except
        that
        the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment
        Date for the related Mortgage Loan.

       

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

       

      GEMICO:
        General
        Electric Mortgage Insurance Corporation or any successor thereto.

       

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

       

      Index:
        With
        respect to any individual Treasury Rate Mortgage Loan, and with respect to
        any
        individual 10/1 ARM Mortgage Loan, 5/1 ARM Mortgage Loan or 3/1 ARM Mortgage
        Loan commencing from and after the 120th Monthly Payment, sixtieth Monthly
        Payment, or the thirty-sixth Monthly Payment thereof, respectively, Index
        shall
        mean a rate per annum equal to the weekly average yield on U.S. Treasury
        securities adjusted to a constant maturity of one year as published by the
        Federal Reserve Board in statistical release No. H 15 (519) or any similar
        publication as available 45 days prior to the Interest Rate Adjustment Date.
        With respect to any individual LIBOR Mortgage Loan, Index shall mean a rate
        per
        annum equal to the average of interbank offered rates for twelve month U.S.
        dollar denominated deposits in the London market as determined as set forth
        in
        the related Mortgage Note. With respect to any individual CD Mortgage Loan,
        Index shall mean a rate per annum equal to the weekly average yield on
        certificates of deposit adjusted to a constant maturity of six months as
        published by the Federal Reserve Board in statistical release No. H 15 (519)
        or
        similar publication as available 45 days prior to the Interest Rate Adjustment
        Date.

       

      Initial
        Rate Cap:
        With
        respect to each Mortgage Loan and the initial Interest Rate Adjustment Date
        therefor, a number of percentage points per annum that is set forth in the
        related Mortgage Loan Schedule and in the related Mortgage Note, which is
        the
        maximum amount by which the Mortgage Interest Rate for such Mortgage Loan
        may
        increase or decrease from the Mortgage Interest Rate in effect immediately
        prior
        to such Interest Rate Adjustment Date.

       

      Insurance
        Proceeds:
        With
        respect to each Mortgage Loan, proceeds of insurance policies insuring the
        Mortgage Loan or the related Mortgaged Property.

       

      Interest
        Rate Adjustment Date:
        The
        date on which an adjustment to the Mortgage Interest Rate on a Mortgage Note
        becomes effective.

       

      LIBOR
        Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is adjusted annually
        based upon the rate per annum equal to the average of interbank offered rates
        for twelve month U.S. dollar denominated deposits in the London market as
        published in The Wall Street Journal.

      
        
          
          

        

        
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      Lifetime
        Mortgage Interest Rate Cap:
        With
        respect to each Mortgage Loan, the absolute maximum Mortgage Interest Rate
        payable, above which the Mortgage Interest Rate cannot be adjusted. The Mortgage
        Interest Rate during the term of a Mortgage Loan shall not at any time exceed
        the Mortgage Interest Rate at the time of origination of such Mortgage Loan
        by
        more than 5% per

       

      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 Stated Principal Balance of
        the
        Mortgage Loan as of the related Cut-off Date (unless otherwise indicated)
        to the
        lesser of (a) the Appraised Value of the Mortgaged Property and (b) if the
        Mortgage Loan was made to finance the acquisition of the related Mortgaged
        Property, the purchase price of the Mortgaged Property, expressed as a
        percentage.

       

      LPMI
        Loan: A
        Mortgage Loan with a LPMI Policy.

       

      LPMI
        Policy: A
        policy
        of primary mortgage guaranty insurance issued by another Qualified Insurer
        pursuant to which the related premium is to be paid by the Servicer of the
        related Mortgage Loan from payments of interest made by the Mortgagor in
        an
        amount as is set forth in the related Confirmation and related Mortgage Loan
        Schedule.

       

      LPMI
        Fee:
        With
        respect to each LPMI Loan, the portion of the Mortgage Interest Rate as set
        forth on the related Mortgage Loan Schedule (which shall be payable solely
        from
        the interest portion of Monthly Payments, Insurance Proceeds, Condemnation
        Proceeds or Liquidation Proceeds), which, during such period prior to the
        required cancellation of the LPMI Policy, shall be used to pay the premium
        due
        on the related LPMI Policy.

       

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

       

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

       

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

       

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

       

      Monthly
        Advance:
        The
        portion of Monthly Payment 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.

      
        
          
          

        

        
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      Monthly
        Payment:
        The
        scheduled monthly payment of principal and interest 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.

       

      Mortgage
        File:
        The
        items pertaining to a particular Mortgage Loan referred to in Exhibit
        B
        annexed
        hereto, and any additional documents required to be added to the Mortgage
        File
        pursuant to this Agreement.

       

      Mortgage
        Impairment Insurance Policy:
        A
        mortgage impairment or blanket hazard insurance policy as described in Section
        4.11.

       

      Mortgage
        Interest Rate:
        The
        annual rate at which Interest accrues on any Mortgage Loan as adjusted from
        time
        to time in accordance with the provisions of the related Mortgage Note and
        in
        compliance with the related Initial Rate Cap, Lifetime Mortgage Interest
        Rate
        Cap and Periodic Rate Cap, if any, of the related Mortgage Note.

       

      Mortgage
        Loan:
        An
        individual Convertible
        or Non-Convertible, Treasury Rate, LIBOR, 5/1 ARM, or 3/1 ARM 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 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:
        The
        documents listed in Exhibit
        C
        hereto.

       

      Mortgage
        Loan Package:
        A pool
        of Mortgage Loans sold to the Purchaser by the Company on a Closing Date.
        

       

      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 (i) the
        Servicing Fee Rate and (ii) with respect to LPMI Loans, the LPMI
        Fee.

       

      Mortgage
        Loan Schedule:
        With
        respect to each Mortgage Loan Package, a schedule of Mortgage Loans annexed
        hereto as Annex A, such schedule setting forth the following information
        with
        respect to each Mortgage Loan: (1) the Company’s Mortgage Loan identifying
        number; (2) the Mortgagor’s name; (3) the street address of the Mortgaged
        Property including the city, state and zip code; (4) a code indicating whether
        the Mortgaged Property is owner-occupied a second home, or an investment
        property; (5) the number and type of residential units constituting the
        Mortgaged Property; (6) the original months to maturity; (7) the Loan-to-Value
        Ratio at origination; (8) the Mortgage Interest Rate as of the Cut-off Date;
        (9)
        the date on which the initial Monthly Payment was due on the Mortgage Loan;
        (10)
        the stated maturity date; (11) the amount of the Monthly Payment as of the
        Cut-off Date; (12) the last payment date on which a payment was actually
        applied
        to the outstanding principal balance; (13) the original principal amount
        of the
        Mortgage Loan; (14) the 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 whether or not collected; (15) a code indicating
        the
        purpose of the loan (i.e., purchase, rate and term refinance, equity take-out
        refinance); (16) a code indicating the documentation style (i.e. full,
        alternative or reduced); (17) the Interest Rate Adjustment Date; (18) the
        Gross
        Margin; (19) the lifetime maximum Mortgage Interest Rate under the terms
        of the
        Mortgage Note; (20) the date the Mortgage Loan was originated; (21) the Periodic
        Rate Cap; (22) a code indicating the company providing private mortgage
        insurance; (23) a code indicating if the Mortgage Loan is convertible; (24)
        the
        Servicing Fee Rate; (25) the LPMI Fee, if any; and (26) the Initial Rate
        Cap.
        With respect to the Mortgage Loans in the aggregate, the Mortgage Loan Schedule
        shall set forth the following information, as of the Cut-off Date: (1) the
        number of Mortgage Loans; (2) the current aggregate outstanding principal
        balance of the Mortgage Loans; (3) the weighted average Mortgage Interest
        Rate
        of the Mortgage Loans; and (4) the weighted average maturity of the Mortgage
        Loans. The Mortgage Loan Schedule may consist of multiple reports that
        collectively set forth all of the required information. 

      
        
          
          

        

        
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      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.

       

      Mortgagor:
        The
        obligor on a Mortgage Note.

       

      Non-Convertible
        Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which does
        not
        contain a provision whereby the Mortgagor may convert the Mortgage Loan to
        a
        fixed-rate mortgage loan.

       

      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 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, provided that any Opinion of Counsel relating
        to
        compliance with the REMIC Provisions, must be an opinion of counsel who (i)
        is
        in fact independent of the Company and any master servicer of the Mortgage
        Loans, (ii) does not have any material direct or indirect financial interest
        in
        the Company or any master servicer of the Mortgage Loans or in an affiliate
        of
        either and (iii) is not connected with the Company or any master servicer
        of the
        Mortgage Loans as an officer, employee, director or person performing similar
        functions.

       

      Pass-Through
        Transfer:
        The
        sale or transfer of some or all of the Mortgage Loans to a trust to be formed
        as
        part of a publicly-issued and/or privately placed, rated or unrated, mortgage
        pass-through transaction, retaining the Company as “servicer” (with or without a
        master servicer) thereunder. 

      
        
          
          

        

        
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      Periodic
        Rate Cap:
        With
        respect to each Mortgage Loan, the provision of each Mortgage Note which
        provides for an absolute maximum amount by which the Mortgage Interest Rate
        therein may increase or decrease on an Interest Rate Adjustment Date above
        the
        Mortgage Interest Rate previously in effect, equal to the rate set forth
        on the
        Mortgage Loan Schedule per adjustment. 

       

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

       

      PMI:
        PMI
        Mortgage Insurance Co., or any successor thereto.

       

      PMI
        Policy:
        A
        policy of primary mortgage guaranty insurance issued by a Qualified Insurer,
        as
        required by this Agreement with respect to certain Mortgage Loans.

       

      Pool
        Insurer:
        Any of
        GEMICO, PMI or UGI.

       

      Prepayment
        Interest Shortfall Amount:
        With
        respect to any Mortgage Loan that was subject to a Principal Prepayment in
        full
        or in part during any Due Period, which Principal Prepayment was applied
        to such
        Mortgage Loan prior to such Mortgage Loan’s Due Date in such Due Period, the
        amount of interest (net the related Servicing Fee) that would have accrued
        on
        the amount of such Principal Prepayment during the period commencing on the
        date
        as of which such Principal Prepayment was applied to such Mortgage Loan and
        ending on the day immediately preceding such Due Date, inclusive.

       

      Prime
        Rate:
        The
        prime rate announced to be in effect from time to time, as published as the
        average rate in the “Money Rates” section of 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.

       

      Purchaser:
        EMC
        Mortgage Corporation or its successor in interest or any successor to the
        Purchaser under this Agreement as herein provided.

       

      Qualified
        Depository:
        A
        depository the accounts of which are insured by the FDIC through the BIF
        or the
        SAIF or the debt obligations of which are rated AA (or the equivalent rating
        category) or better by national recognized statistical rating
        organization.

      
        
          
          

        

        
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      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 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) have a Gross Margin not less than
        that
        of the Deleted Mortgage Loan; (v) comply with each representation and warranty
        set forth in Sections 3.01 and 3.02; (v) use the same Index for determining
        the
        Mortgage Interest Rate as the Deleted Mortgage Loan; (vi) have the same
        provision with respect to convertibility as the Deleted Mortgage Loan; and
        (viii) be a REMIC Eligible Mortgage Loan.

       

      Rating
        Agency:
        Any of
        Fitch, Moody’s or Standard & Poor’s or their respective successors designed
        by the Purchaser.

       

      Reconstitution
        Agreements:
        The
        agreement or agreements entered into by the Purchaser, the Company, Fannie
        Mae
        or Freddie Mac or certain third parties on the Reconstitution Date(s) with
        respect to any or all of the Mortgage Loans serviced hereunder, in connection
        with a Pass-Through Transfer or an Agency Transfer as set forth in Section
        7.01,
        including, but not limited to, (i) a Fannie Mae Mortgage Selling and Servicing
        Contract, a Pool Purchase Contract, and any and all servicing agreements
        and
        tri-party agreements reasonably required by Fannie Mae with respect to a
        Fannie
        Mae Transfer, (ii) a Purchase Contract and all purchase documents associated
        therewith as set forth in the Freddie Mac Sellers’ & Servicers’ Guide, and
        any and all servicing agreements and tri-party agreements reasonably required
        by
        Freddie Mac with respect to a Freddie Mac Transfer, and (iii) a Pooling and
        Servicing Agreement and/or a subservicing/master servicing agreement and
        related
        custodial/trust agreement and related documents with respect to a Pass-Through
        Transfer. Such agreement or agreements shall prescribe the rights and
        obligations of the Company in servicing the related Mortgage Loans and shall
        provide for servicing compensation to the Company (calculated on a weighted
        average basis for all the related Mortgage Loans as of the Reconstitution
        Date),
        net of any guarantee fees due Fannie Mae or Freddie Mac, if applicable, at
        least
        equal to the Servicing Fee due the Company in accordance with this Agreement
        or
        the servicing fee required pursuant to the Reconstitution Agreement. The
        form of
        relevant Reconstitution Agreement to be entered into by the Purchaser and/or
        master servicer or trustee and the Company with respect to Pass-Through
        Transfers shall be reasonably satisfactory in form and substance to the
        Purchaser and the Company, shall not material increase the Company’s obligations
        or diminish the Company’s rights hereunder and the representations and
        warranties and servicing provisions contained therein shall be substantially
        similar to those contained in this Agreement, unless otherwise mutually agreed
        by the parties.

      
        
          
          

        

        
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      Reconstitution
        Date:
        The
        date or dates on which any or all of the Mortgage Loans serviced under this
        Agreement shall be removed from this Agreement and reconstituted as part
        of an
        Agency Transfer or a Pass-Through Transfer pursuant to Section 7.01 hereof.
        On
        such date or dates, the Mortgage Loans transferred shall cease to be covered
        by
        this Agreement and the Company’s servicing responsibilities shall cease under
        this Agreement with respect to the related transferred Mortgage
        Loans.

       

      Record
        Date:
        The
        close of business of the last Business Day of the month preceding the month
        of
        the related Remittance Date.

       

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

       

      REMIC
        Documents:
        The
        document or documents creating and governing the administration of a
        REMIC.

       

      REMIC
        Eligible Mortgage Loan:
        A
        Mortgage Loan held by a REMIC which satisfies and/or complies with all
        applicable REMIC Provisions.

       

      REMIC
        Provisions:
        Provisions of the federal income tax law relating to a REMIC, which appear
        at
        Section 860A through 86OG 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 (or if such 18th day is not a Business Day, the first Business Day
        immediately following) of any month, beginning with the First Remittance
        Date.

       

      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 Purchasers through
        foreclosure or by deed in lieu of foreclosure, as described in Section
        4.16.

       

      Repurchase
        Price:
        With
        respect to any Mortgage Loan, 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 to the date of repurchase, 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.

       

      SAIF:
        The
        Savings Association Insurance Fund, or any successor thereto.

      
        
          
          

        

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

       

      Servicing
        Advances:
        All
        customary, reasonable and necessary “out of pocket” costs and expenses other
        than Monthly Advances (including reasonable attorneys’ 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 without limitation, foreclosures, (c) the management
        and
        liquidation of any REO Property and (d) compliance with the obligations under
        Section 4.08.

       

      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 computed. 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:
        0.25%
        per annum with respect to the period prior to the initial Interest Adjustment
        Date and, for the 5/1 7/1 and 10/1 ARM Loans 0.375% thereafter.

       

      Servicing
        File:
        With
        respect to each Mortgage Loan, the file retained by the Company consisting
        of
        originals of all documents in the Mortgage File which are not delivered to
        the
        Custodian and copies of the Mortgage Loan Documents listed in Exhibit
        B
        the
        originals of which are delivered to the Custodian pursuant to Section
        2.01.

       

      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.

       

      7/1
        ARM Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is fixed for the
        first
        seven (7) years of the term of the related Mortgage Loan and which thereafter
        is
        converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except
        that
        the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment
        Date for the related Mortgage Loan.

       

      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.

       

      Subservicer:
        Any
        Subservicer which is subservicing the Mortgage Loans pursuant to a Subservicing
        Agreement. Any subservicer shall meet the qualifications set forth in Section
        4.01.

      
        
          
          

        

        
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      Subservicing
        Agreement:
        An
        agreement between the Company and a Subservicer for the servicing of the
        Mortgage Loans. 

       

      10/1
        ARM Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is fixed for the
        first
        ten (10) years of the term of the related Mortgage Loan and which thereafter
        is
        converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage Loan except
        that
        the Periodic Rate Cap does not apply to the initial Interest Rate Adjustment
        Date for the related Mortgage Loan.

       

      3/1
        ARM Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is fixed for the
        first
        three (3) years of the term of the related Mortgage Loan and which thereafter
        is
        converted to a Treasury Rate Mortgage Loan or a LIBOR Mortgage
        Loan.

       

      Treasury
        Rate Mortgage Loan:
        Any
        individual Mortgage Loan purchased pursuant to this Agreement which contains
        a
        provision whereby the interest rate on such Mortgage Loan is adjusted based
        upon
        the weekly average yield on U.S. Treasury securities.

       

      Underwriting
        Guidelines:
        The
        underwriting guidelines of the Company with respect to mortgage loans similar
        to
        the Mortgage Loans, attached hereto as Exhibit
        H.
        

       

      UGI:
        United
        Guaranty Residential Insurance Company or any successor thereto.

       

      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.

              

      

       

      The
        Company, on each Closing Date, does hereby sell, transfer, assign, set over
        and
        convey to the Purchaser, without recourse, but subject to the terms of this
        Agreement, all the right, title and interest of the Company in and to the
        Mortgage Loans in the related Mortgage Loan Package, excluding the right
        to
        service the Mortgage Loans which the Company expressly retains. Pursuant
        to
        Section 2.03, the Company has delivered the Mortgage Loan Documents for each
        Mortgage Loan in the Mortgage Loan Package to the Custodian.

       

      The
        contents of each 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 Mortgage File and the originals of the documents in each
        Mortgage File not delivered to the Custodian. The possession of each 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 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. Each Servicing File shall be segregated from the other books and
        records of the Company and shall be marked appropriately to reflect clearly
        the
        sale of the related Mortgage Loan to the Purchaser. 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, 3.05, 3.07,
        or
        6.02.

      
        
          
          

        

        
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                Section
                  2.02

              	
                Books
                  and Records; Transfers of Mortgage Loans.

              

      

       

      From
        and
        after the sale of the Mortgage Loans to the Purchaser all rights arising
        out of
        the Mortgage Loans in a Mortgage Loan Package including but not limited to
        all
        funds received on or in connection with the Mortgage Loan, shall be received
        and
        held by the Company in trust for the benefit of the Purchaser as owner of
        the
        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 the Mortgage Loans.

       

      The
        sale
        of each Mortgage Loan in a Mortgage Loan Package 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 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 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 a Mortgage Loan and
        thereafter in accordance with applicable laws and regulations.

      
        
          
          

        

        
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      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, provided,
        however,
        that
        (i) the transferee will not be deemed to be a Purchaser hereunder binding
        upon
        the Company unless such transferee shall agree in writing to be bound by
        the
        terms of this Agreement and an original counterpart of the instrument of
        transfer and an assignment and assumption of this Agreement in the form of
        Exhibit
        G
        hereto
        executed by the transferee shall have been delivered to the Company, and
        (ii)
        with respect to each Mortgage Loan Package, in no event shall there be more
        than
        five Persons at any given time having the status of “Purchaser” hereunder. 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. Purchaser shall not to transfer to any assignee any pool
        of
        Mortgage Loans with a aggregate outstanding principal balance of less than
        $10,000,000 without the consent of the Company; provided, however, if the
        Company fails to consent to the transfer of a pool of Mortgage Loans as
        contemplated in this sentence, Purchaser shall have the right to purchase
        the
        servicing rights associated with such Mortgage Loans at a price to mutually
        agreed to by Purchaser and Company, exercising good faith.

       

      
        	 	
                Section
                  2.03

              	
                Delivery
                  of Documents.

              

      

       

      On
        or
        before the date which is agreed upon by the Purchaser and the Company in
        the
        related Confirmation, the Company shall deliver and release to the Custodian
        those Mortgage Loan Documents as required by this Agreement with respect
        to each
        Mortgage Loan in the related Mortgage Loan Package a list of which is attached
        to the related Assignment and Conveyance.

       

      On
        or
        prior to the related Closing Date, the Custodian shall certify its receipt
        of
        all such Mortgage Loan Documents 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 Company shall be responsible
        for maintaining the Custodial Agreement for the benefit of the Purchaser.
        Purchaser shall pay all fees and expenses of the Custodian.

       

      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
        one
        week 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 180
        days
        of its submission for recordation.

       

      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.

      
        
          
          

        

        
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      On
        or
        prior to the date which is three Business Days prior to the related Closing
        Date, the Company shall deliver to the Purchaser the related Mortgage Loan
        Schedule.

       

      ARTICLE
        III

       

      REPRESENTATIONS
        AND WARRANTIES;

      REMEDIES
        AND BREACH

       

      
        	 	
                Section
                  3.01

              	
                Company
                  Representations and Warranties.

              

      

       

      The
        Company represents and warrants to the Purchaser that as of each Closing
        Date:

       

      (a) Due
        Organization and Authority.
        The
        Company is a corporation duly organized, validly existing and in good standing
        under the laws of the State of New York 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
        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 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 corporate 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, 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, conditions or provisions of the Company’s charter 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 an acceleration under any of the foregoing, 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;

      
        
          
          

        

        
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      (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, as calculated at
        the
        Servicing Fee Rate, 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 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 to the best of
        the
        Company’s knowledge 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 taken in
        connection with the obligations of the Company 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 the adjustable rate one- to four-family
        mortgage loans in the Company’s 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;

      
        
          
          

        

        
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      (j) Pool
        Characteristics.
        With
        respect to each Mortgage Loan Package, the Mortgage Loan characteristics
        set
        forth on Exhibit 2 to the related Assignment and Conveyance are true and
        complete.

       

      (k) 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;

       

      (l) 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;

       

      (m) Financial
        Statements.
        There
        has been no change in the business, operations, financial condition, properties
        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;

       

      (n) 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 connection with
        the
        sale of the Mortgage Loans;

       

      (o) Origination.
        The
        Company’s decision to originate any mortgage loan or to deny any mortgage loan
        application is an independent decision based upon Company’s Underwriting
        Guidelines, and is in no way made as a result of Purchaser’s decision to
        purchase, or not to purchase, or the price Purchaser may offer to pay for,
        any
        such mortgage loan, if originated; and

       

      (p) MERS.
        The
        Company is a member of MERS in good standing, and will comply in all material
        respects with the rules and procedures of MERS in connection with the servicing
        of the MERS Mortgage Loans for as long as such Mortgage Loans are registered
        with MERS;

       

      
        	 	
                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 each Mortgage Loan Schedule is complete, true and
        correct in all material respects;

       

      (b) Payments
        Current.
        All
        payments required to be made up to the related Closing Date for the Mortgage
        Loan under the terms of the Mortgage Note have been made and credited. No
        payment required under the Mortgage Loan has been more than 30 days delinquent
        at any time in the twelve months prior to the related Closing Date. The first
        Monthly Payment shall be made with respect to the Mortgage Loan on its Due
        Date
        or within the grace period, all in accordance with the terms of the related
        Mortgage Note;

      
        
          
          

        

        
          -18-

          
            

          

        

        
          
          

        

      

       

      

       

      (c) No
        Outstanding Charges.
        There
        are no defaults in complying with the terms of the Mortgages, and all taxes,
        governmental assessments, insurance premiums, water, sewer and municipal
        charges, leasehold payments or ground rents 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 Company has not advanced funds,
        or
        induced, solicited or knowingly received any advance of funds by a party
        other
        than the Mortgagor, directly or indirectly, for the payment of any amount
        required 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 greater, 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 is part of the Mortgage Loan
        File
        delivered to the Custodian and the terms of which are reflected in the related
        Mortgage Loan Schedule;

       

      (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, and no Mortgagor was a debtor
        in
        any state or federal bankruptcy or insolvency proceeding at the time the
        Mortgage Loan was originated;

      
        
          
          

        

        
          -19-

          
            

          

        

        
          
          

        

      

       

      

       

      (f) Hazard
        Insurance.
        Pursuant to the terms of the Mortgage, all buildings or other improvements
        upon
        the Mortgaged Property are insured by a generally acceptable insurer against
        loss by fire, hazards of extended coverage 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. If upon
        origination of the Mortgage Loan, the Mortgaged Property was in an area
        identified in the Federal Register 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 Flood Insurance Administration is in effect which policy conforms
        to
        the requirements of Section 4.10. 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 the 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. Where
        required by state law or regulation, the Mortgagor has been given an opportunity
        to choose the carrier of the required hazard insurance, provided the policy
        is
        not a “master” or “blanket” hazard insurance policy covering the common
        facilities of a planned unit development. 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 engaged in, and has no knowledge of the Mortgagor’s or any Subservicer’s
        having engaged in, any act or omission which would impair the coverage of
        any
        such policy, the benefits of the endorsement provided for herein, or the
        validity and binding effect of either, including without limitation, no unlawful
        fee, unlawful commission, unlawful kickback or other unlawful compensation
        or
        value of any kind has been or will be received, retained or realized by any
        attorney, firm or other person or entity, and no such unlawful items have
        been
        received, retained or realized by the Company;

       

      (g) 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 protection, equal credit opportunity or disclosure 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;

       

      (h) 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.
        The
        Company has not 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, nor has the Company waived any default resulting from any action
        or
        inaction by the Mortgagor;

       

      (i) Location
        and Type of Mortgaged Property.
        The
        Mortgaged Property is a fee simple property 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 an individual
        condominium unit in a low-rise condominium project, or an individual unit
        in a
        planned unit development, provided, however, that any condominium project
        or
        planned unit development shall conform with the Company’s Underwriting
        Guidelines regarding such dwellings, and no residence or dwelling is a mobile
        home or a manufactured dwelling. No portion of the Mortgaged Property is
        used
        for commercial purposes; 

      
        
          
          

        

        
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      (j) Valid
        First Lien.
        The
        Mortgage is a valid, subsisting, enforceable and perfected first lien on
        the
        Mortgaged Property, including all buildings and improvements on the Mortgaged
        Property, 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 to otherwise considered in the appraisal made for the originator
        of the Mortgage Loan or (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. The Mortgaged Property was not, as of the date
        of
        origination of the Mortgage Loan, subject to a mortgage, deed of trust, deed
        to
        secured debt or other security instrument creating a lien subordinate to
        the
        lien of the Mortgage;

       

      (k) Validity
        of Mortgage Documents.
        The
        Mortgage Note and the Mortgage 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 and any other related
        agreement had legal capacity to enter into the Mortgage Loan and to execute
        and
        deliver the Mortgage Note and the Mortgage and any other related agreement,
        and
        the Mortgage Note and the Mortgage have been duly and properly executed by
        such
        parties. No fraud was committed by the Company, or to the Company's knowledge
        by
        any other person including the Mortgagor, in connection with the origination
        or
        servicing of the Mortgage Loan. The Company has reviewed all of the documents
        constituting the Servicing File and has made such inquiries as it deems
        necessary to make and confirm the accuracy of the representations set forth
        herein; 

       

      (l) Full
        Disbursement of Proceeds.
        The
        Mortgage Loan has been closed and the proceeds of the Mortgage Loan have
        been
        fully disbursed and there is no requirement for future advances 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 were paid, and the Mortgagor is not entitled
        to
        any refund of any amounts paid or due under the Mortgage Note or
        Mortgage;

      
        
          
          

        

        
          -21-

          
            

          

        

        
          
          

        

      

       

      

       

      (m) Ownership.
        The
        Company is the sole owner of record and holder of the Mortgage Loan. The
        Mortgage Loan is not assigned or pledged, and the Company has good and
        marketable title thereto, and has full right to transfer and sell the Mortgage
        Loan therein to the Purchaser free and clear of any encumbrance, equity,
        participation interest, lien, pledge, charge, claim or security interest,
        and
        has full right and authority subject to no interest or participation of,
        or
        agreement with, any other party, to sell and assign each Mortgage Loan pursuant
        to this Agreement;

       

      (n) Doing
        Business.
        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;

       

      (o) LTV,
        PMI Policy.
        Any
        Mortgage Loan with an LTV over 80% has a PMI Policy insuring, as to payment
        defaults, the excess LTV over 71% (or such other percentage as stated in
        the
        related Confirmation) of the Appraised Value until the LTV of such Mortgage
        Loan
        is reduced to 80%. All provisions of such PMI Policy have been and are being
        complied with, such policy is in full force and effect, and all premiums
        due
        thereunder have been paid. No action, inaction, or event has occurred and
        no
        state of facts exists that has, or will result in the exclusion from, denial
        of,
        or defense to coverage. Any Mortgage Loan subject to a PMI Policy obligates
        the
        Mortgagor thereunder to maintain the PMI Policy and to pay all premiums and
        charges in connection therewith; provided, that, with respect to LPMI Loans,
        the
        Company is obligated thereunder to maintain the 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 Mortgage Loan Schedule is net of any insurance
        premium excluded any premium for the LPMI Policy;

       

      (p) Title
        Insurance.
        The
        Mortgage Loan is covered by either (i) an attorney’s opinion of title and
        abstract of title the form and substance of which is acceptable to mortgage
        lending institutions making mortgage loans in the area where the Mortgaged
        Property is located or (ii) 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 (or to the extent that a Mortgage Note provides for negative amortization,
        the maximum amount of negative amortization in accordance with the Mortgage),
        and 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 and Monthly Payment, subject only to the exceptions
        contained in clauses (1), (2) and (3) of paragraph (j) of this Section 3.02.
        Where required by state law or regulation, the Mortgagor has been given the
        opportunity to choose the carrier of the required mortgage title insurance.
        Additionally, such lender’s title insurance policy affirmatively insures ingress
        and egress, and against encroachments by or upon the Mortgaged Property or
        any
        interest therein. 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 including without limitation, no
        unlawful fee, commission, kickback or other unlawful compensation or value
        of
        any kind has been or will be received, retained or realized by any attorney,
        firm or other person or entity, and no such unlawful items have been received,
        retained or realized by the Company;

      
        
          
          

        

        
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      (q) 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;

       

      (r) 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;

       

      (s) Location
        of Improvements; No Encroachments.
        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;

       

      (t) Origination;
        Payment Terms.
        The
        Mortgage Loan was originated by either i) the Company, which is a FNMA-approved,
        FHLMC-approved and HUD-approved mortgage banker, or ii) an entity that is
        a
        FNMA-approved, FHLMC-approved and HUD-approved mortgage banker, or a savings
        and
        loan association, a savings bank, a commercial bank or similar banking
        institution which is supervised and examined by a Federal or state authority.
        The interest rate on the related Mortgage Note is adjusted annually in the
        case
        of Treasury Rate Mortgage Loans and LIBOR Mortgage Loans on each Interest
        Rate
        Adjustment Date to equal the Index plus the Gross Margin, subject to the
        Initial
        Rate Cap, Periodic Rate Cap and the Lifetime Mortgage Interest Rate Cap as
        set
        forth in the Mortgage Note. The Mortgage Interest Rate for a 5/1 ARM Mortgage
        Loan and a 3/1 ARM Mortgage Loan is adjusted annually commencing from and
        after
        the sixtieth Monthly Payment and the thirty-sixth Monthly Payment, respectively,
        in the same manner as a Treasury Rate Mortgage Loan and LIBOR Mortgage Loan,
        provided, however, that the Periodic Rate Cap does not apply to the initial
        Interest Rate Adjustment Date for such 5/1 ARM Mortgage Loan (the Initial
        Rate
        Cap does apply). The Mortgage Note is payable each month in monthly installments
        of principal and interest, with interest in arrears, and requires Monthly
        Payments sufficient to amortize the original principal balance of the Mortgage
        Loan over a term of no more than 30 years. Each Convertible Mortgage Loan
        contains a provision whereby the Mortgagor is permitted to convert the Mortgage
        Loan to a fixed-rate mortgage loan at any time between the first and fifth
        anniversary of the origination of the Mortgage Loan. No Mortgage Loan has
        a
        provision for negative amortization; 

      
        
          
          

        

        
          -23-

          
            

          

        

        
          
          

        

      

       

      

       

      (u) 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. Upon default by a
        Mortgagor on a Mortgage Loan and foreclosure on, or trustee’s sale of, the
        Mortgaged Property pursuant to the proper procedures, the holder of the Mortgage
        Loan will be able to deliver good and merchantable title to the Mortgaged
        Property. 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;

       

      (v) Conformance
        with Underwriting Guidelines.
        The
        Mortgage Loan was underwritten in accordance with the Company’s Underwriting
        Guidelines in effect at the time the Mortgage Loan was originated.;

       

      (w) Occupancy
        of the Mortgaged Property.
        As of
        the related Closing Date 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 and fire underwriting certificates, have been made
        or
        obtained from the appropriate authorities. The Mortgagor represented at the
        time
        of origination of the Mortgage Loan that the Mortgagor would occupy the
        Mortgaged Property as the Mortgagor’s primary residence;

       

      (x) No
        Additional Collateral.
        The
        Mortgage Note is not and has not been secured by any collateral except the
        lien
        of the corresponding Mortgage and the security interest of any applicable
        security agreement or chattel mortgage referred to in (j) 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 Purchasers 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, 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) Delivery
        of Mortgage Documents.
        The
        Mortgage Note, the Mortgage, the Assignment of Mortgage and any other documents
        required to be delivered for the Mortgage Loan by the Company under this
        Agreement as set forth in Exhibit
        C
        attached
        hereto have been delivered to the Custodian. The Company is in possession
        of a
        complete, true and accurate Mortgage File in compliance with Exhibit
        B,
        except
        for such documents the originals of which have been delivered to the
        Custodian;

      
        
          
          

        

        
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      (bb) Condominiums/Planned
        Unit Developments.
        If the
        Mortgaged Property is a condominium unit or a planned unit development (other
        than a de minimus planned unit development) such condominium or planned unit
        development project meets Company’s Underwriting Guidelines with respect to such
        condominium or planned unit development;

       

      (cc) Transfer
        of Mortgage Loans.
        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;

       

      (dd) Due
        on
        Sale.
        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 Mortgagor thereunder;

       

      (ee) No
        Buydown Provisions; No Graduated Payments or Contingent
        Interests.
        The
        Mortgage Loan does not contain provisions pursuant to which Monthly Payments
        are
        paid or partially paid with funds deposited in any separate account established
        by the Company, the Mortgagor or anyone on behalf of the Mortgagor, or paid
        by
        any source other than the Mortgagor nor does it contain any other similar
        provisions currently in effect which may constitute a “buydown” provision. 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;

       

      (ff) 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. 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;

       

      (gg) Mortgaged
        Property Undamaged.
        There
        is no proceeding pending or, to the best of the Company’s knowledge, threatened
        for the total or partial condemnation of the Mortgaged Property. 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; and

       

      (hh) Collection
        Practices; Escrow Deposits.
        The
        origination, servicing and collection practices used with respect to the
        Mortgage Loan have been in accordance with Accepted Servicing Practices,
        and
        have been in all respects in compliance with all applicable laws and
        regulations. 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. An escrow of funds is not prohibited by applicable
        law
        and has been established in an amount sufficient to pay for every item which
        remains unpaid and which has been assessed but is not yet due and payable.
        No
        escrow deposits or Escrow Payments or other charges or payments due the Company
        have been capitalized under the Mortgage or the Mortgage Note. All
        Mortgage Interest Rate adjustments have been made in strict compliance with
        state and federal law and the terms of the related Mortgage Note. Any interest
        required to be paid pursuant to state and local law has been properly paid
        and
        credited;

      
        
          
          

        

        
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      (ii) Appraisal.
        The
        Mortgage File contains an appraisal of the related Mortgage Property signed
        prior to the approval of the Mortgage Loan application by a qualified appraiser,
        duly appointed by the Company, 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 appraiser both satisfy the requirements of Fannie
        Mae, Freddie Mac or Title XI of the Federal Institutions Reform, Recovery,
        and Enforcement Act of 1989 and the regulations promulgated thereunder, all
        as
        in effect on the date the Mortgage Loan was originated;

       

      (jj) Soldiers’
        and Sailors’ 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 Soldiers’ and Sailors’
Civil Relief Act of 1940;

       

      (kk) Environmental
        Matters.
        The
        Mortgaged Property is free from any and all toxic or hazardous substances
        and
        there exists no violation of any local, state or federal environmental law,
        rule
        or regulation. To the best of the Company’s knowledge, 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 consisting a prerequisite to use and enjoyment of said
        property; 

       

      (ll) No
        Construction Loans.
        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;

       

      (mm) Insurance.
        The
        Company has caused or will cause to be performed any and all acts required
        to
        preserve the rights and remedies of the Purchaser in any insurance policies
        applicable to the Mortgage Loans including, without limitation, any necessary
        notifications of insurers, assignments of policies or interests therein,
        and
        establishments of coinsured, joint loss payee and mortgagee rights in favor
        of
        the Purchaser; No action, inaction, or event has occurred and no state of
        fact
        exists or has existed that has resulted or will result in the exclusion from,
        denial of, or defense to coverage under any applicable pool insurance policy,
        special hazard insurance policy, PMI 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 Company or any designee of the Company or any corporation
        in
        which the Company or any officer, director, or employee had a financial interest
        at the time of placement of such insurance;

      
        
          
          

        

        
          -26-

          
            

          

        

        
          
          

        

      

       

      

       

      (nn) Regarding
        the Mortgagor.
        The
        Mortgagor is one or more natural persons and/or trustees for an Illinois
        land
        trust or a trustee under a “living trust” and such “living trust” is in
        compliance with Fannie Mae guidelines for such trusts.

       

      (oo) Predatory
        Lending Regulations; High Cost Loans.
        None of
        the Mortgage Loans are classified as (a) “high cost” loans under the Home
        Ownership and Equity Protection Act of 1994 or (b) “high cost,” “threshold,” or
“predatory” loans under any other applicable state, federal or local
        law.

       

      (pp) Simple
        Interest Mortgage Loans.
        None of
        the Mortgage Loans are simple interest Mortgage Loans.

       

      (qq)  Single
        Premium Credit Life Insurance.
        None of
        the proceeds of the Mortgage Loan were used to finance single-premium credit
        life insurance policies.

       

      (rr)  Tax
        Service Contract
        The
        Company has obtained a life of loan, transferable real estate Tax Service
        Contract on each Mortgage Loan and such contract is assignable without penalty,
        premium or cost to the Purchaser;

       

      (ss)  Flood
        Certification Contract.
        The
        Company has obtained a life of loan, transferable flood certification contract
        with a Approved Flood Certification Provider for each Mortgage Loan and such
        contract is assignable without penalty, premium or cost to the
        Purchaser;

       

      (tt)  FICO
        Scores.
        Each
        Mortgage Loan has a non-zero FICO score; 

       

      (uu) Prepayment
        Fee.
        With
        respect to each Mortgage Loan that has a prepayment fee feature, each such
        prepayment fee is enforceable and will be enforced by the Company, and each
        prepayment penalty in permitted pursuant to federal, state and local law.
        No
        Mortgage Loan will impose a prepayment penalty for a term in excess of five
        years from the date such Mortgage Loan was originated. Except as otherwise
        set
        forth in the related Mortgage Loan Schedule, with respect to each Mortgage
        Loan
        that contains a prepayment fee, such prepayment fee 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;
        and

       

      (vv) Recordation.
        Each
        original Mortgage was recorded and, except for those Mortgage Loans subject
        to
        the MERS identification system, all subsequent assignments of the original
        Mortgage (other than the assignment to the Purchaser) have been recorded
        in the
        appropriate jurisdictions wherein such recordation is necessary to perfect
        the
        lien thereof as against creditors of the Company, or is in the process of
        being
        recorded;

       

      (ww) Leaseholds. If
        the
        Mortgaged Property is subject to a ground lease or any other type of leasehold
        interest, the ground lease or other leasehold interest exceeds the remaining
        term of the related Mortgage Loan.

      
        
          
          

        

        
          -27-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                Section
                  3.03

              	
                Remedies
                  for Breach of Representations and Warranties.

              

      

       

      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 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 (in the
        case
        of any of the foregoing, a “Breach”),
        the
        party discovering such Breach shall give prompt written notice to the other.
        

       

      With
        respect to those representations and warranties which are made to the best
        of
        the Company’s knowledge, if it is discovered by the Company or the Purchaser
        that the substance of such representation and warranty is inaccurate and
        such
        inaccuracy materially and adversely affects the value of the related Mortgage
        Loan or the interest of the Purchaser (or which materially and adversely
        affects
        the value of a Mortgage Loan or the interests of the Purchaser in the related
        Mortgage Loan in the case of a representation and warranty relating to a
        particular Mortgage Loan), notwithstanding the Company’s lack of knowledge with
        respect to the substance of such representation and warranty, such inaccuracy
        shall be deemed a breach of the applicable representation and
        warranty.

       

      Within
        60
        days of the earlier of either discovery by or notice to the Company of any
        Breach of a representation or warranty, 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 and subject to Section
        3.06, 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 60 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 and subject to Section 3.06, 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, 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. 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.

      
        
          
          

        

        
          -28-

          
            

          

        

        
          
          

        

      

       

      

       

      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. 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. For the month of substitution, 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.

       

      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) failure 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.

       

      
        	 	
                Section
                  3.04

              	
                Indemnification.

              

      

       

      The
        Company agrees to indemnify the Purchaser 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
        Purchaser may sustain in any way related any assertion based on, grounded
        upon
        resulting from a Breach of any of the Company’s representations and warranties
        contained herein. In addition to the obligations of the Company set forth
        in
        this Section 3.04, the Purchaser may pursue any and all remedies otherwise
        available at law or in equity, including, but not limited to, the right to
        seek
        damages. The provisions of this Section 3.04 shall survive termination of
        this
        Agreement.

      
        
          
          

        

        
          -29-

          
            

          

        

        
          
          

        

      

       

      

       

      It
        is
        understood and agreed that the obligations of the Company set forth in Sections
        3.03 and 3.04 to cure, substitute for or repurchase a defective Mortgage
        Loan
        and to indemnify the Purchaser constitute the sole remedies of the Purchaser
        respecting a Breach of the foregoing representations and
        warranties.

       

      

       

      
        	 	
                Section
                  3.05

              	
                Repurchase
                  Upon Conversion.

              

      

      

      In
        the
        event the Mortgagor under any Convertible Mortgage Loan elects to convert
        said
        Mortgage Loan to a fixed rate mortgage loan, as provided in the related Mortgage
        Note, then the Company shall repurchase the related Mortgage Loan in the
        month
        the conversion takes place and in the manner prescribed in Section 3.04 at
        the
        Repurchase Price.

       

      
        	 	
                Section
                  3.06

              	
                Restrictions
                  and Requirements Applicable in the Event

                that
                  a Mortgage Loan is Acquired by a
                  REMIC

              

      

       

      In
        the
        event that any Mortgage Loan is held by a REMIC, notwithstanding any contrary
        provision of this Agreement, the following provisions shall be applicable
        to
        such Mortgage Loan:

       

      
        	 	
                (A)

              	
                Repurchase
                  of Mortgage Loans.

              

      

       

      With
        respect to any Mortgage Loan that is not in default or as to which no default
        is
        imminent, no repurchase or substitution pursuant to Subsection 3.03, 3.05,
        3.07
        or 7.02 shall be made, unless, if so required by the applicable REMIC Documents
        the Company has obtained an Opinion of Counsel to the effect that such
        repurchase will not (i) result in the imposition of taxes on “prohibited
        transactions” of such REMIC (as defined in Section 860F of the Code) or
        otherwise subject the REMIC to tax, or (ii) cause the REMIC to fail to qualify
        as a REMIC at any time.

       

      
        	 	
                (B)

              	
                General
                  Servicing Obligations.

              

      

       

      The
        Company shall sell any REO Property within two years after its acquisition
        by
        the REMIC unless (i) the Company applies for an extension of such two-year
        period from the Internal Revenue Service pursuant to the REMIC Provisions
        and
        Code Section 856(e)(3), in which event such REO Property shall be sold within
        the applicable extension period, or (ii) the Company obtains for the Purchaser
        an Opinion of Counsel, addressed to the Purchaser and the Company, to the
        effect
        that the holding by the REMIC of such REO Property subsequent to such two
        year
        period will not result in the imposition of taxes on “prohibited transactions”
as defined in Section 860F of the Code or cause the REMIC to fail to qualify
        as
        a REMIC under the REMIC Provisions or comparable provisions of relevant state
        laws at any time. The Company shall manage, conserve, protect and operate
        each
        REO Property for the Purchaser solely for the purpose of its prompt disposition
        and sale in a manner which does not cause such REO Property to fail to qualify
        as “foreclosure property” within the meaning of Section 860G(a)(8) or result in
        the receipt by the REMIC of any “income from non-permitted assets” within the
        meaning of Section 860F(a)(2)(B) of the Code or any “net income from foreclosure
        property” which is subject to taxation under Section 860G(a)(1) of the Code.
        Pursuant to its efforts to sell such REO Property, the Company shall either
        itself or through an agent selected by the Company protect and conserve such
        REO
        Property in the same manner and to such extent as is customary in the locality
        where such REO Property is located and may, incident to its conservation
        and
        protection of the interests of the Purchaser, rent the same, or any part
        thereof, as the Company deems to be in the best interest of the Company and
        the
        Purchaser for the period prior to the sale of such REO Property; provided,
        however, that any rent received or accrued with respect to such REO Property
        qualifies as “rents from real property” as defined in Section 856(d) of the
        Code.

      
        
          
          

        

        
          -30-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                (C)

              	
                Additional
                  Covenants.

              

      

       

      In
        addition to the provision set forth in this Section 3.06, if a REMIC election
        is
        made with respect to the arrangement under which any of the Mortgage Loans
        or
        REO Properties are held, then, with respect to such Mortgage Loans and/or
        REO
        Properties, and notwithstanding the terms of this Agreement, 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 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 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.

       

      If
        a
        REMIC election is made with respect to the arrangement under which any Mortgage
        Loans or REO Properties are held, the Company shall amend this Agreement
        such
        that it will meet all Rating Agency requirements.

       

      
        	 	
                Section
                  3.07

              	
                Review
                  of Mortgage Loans

              

      

       

      From
        the
        related Closing Date until the date 15 days after the related Closing Date,
        the
        Purchaser shall have the right to review the Mortgage Files and obtain BPOs
        and
        other property evaluations on the Mortgaged Properties relating to the Mortgage
        Loans purchased on the related Closing Date, with the results of such BPO
        or
        property evaluation reviews to be communicated to the Company for a period
        up to
        15 days after the related Closing Date. In addition, the Purchaser shall
        have
        the right to reject any Mortgage Loan which in the Purchaser’s sole
        determination (i) fails to conform to the Underwriting Guidelines, (ii) the
        value of the Mortgaged Property pursuant to any BPO or property evaluation
        varies by more than plus or minus 15% from the lesser of (A) the original
        appraised value of the Mortgage Property or (B) the purchase price of the
        Mortgaged Property as of the date of origination (a “Value
        Issue”),
        (iii)
        the Mortgage Loan is underwritten without verification of the Borrower’s income
        and assets and there is no credit report and credit score or (iv) the Purchaser
        deems the Mortgage Loan not to be an acceptable credit risk. The Company
        shall
        repurchase the rejected Mortgage Loan in the manner prescribed in Section
        3.03
        upon receipt of notice from the Purchaser of the rejection of such Mortgage
        Loan; provided, that, in the event that the Purchaser rejects a Mortgage
        Loan
        due to a Value Issue, the Company may submit to the Purchaser an additional
        property evaluation for purposes of demonstrating that the Mortgage Loan
        does
        not have a Value Issue. If the Purchaser and the Company fail to resolve
        such
        Value Issue within two weeks of the Purchaser presenting such Value Issue
        to the
        Company, then Company shall have the right to promptly (a) substitute such
        Mortgage Loan with a Qualified Substitute Mortgage Loan meeting all the terms
        hereof, or (b) repurchase such Mortgage Loan in the manner prescribed in
        Section
        3.03. Any rejected Mortgage Loan shall be removed from the terms of this
        Agreement. The Company shall make available all files required by Purchaser
        in
        order to complete its review, including capturing all CRA/HMDA required data
        fields. Any review performed by the Purchaser prior to the related Closing
        Date
        does not limit the Purchaser’s rights or the Company’s obligations under this
        section. To the extent that the Purchaser’s review discloses that the Mortgage
        Loans do not conform to the Underwriting Guidelines or the terms set forth
        in
        the Purchaser Price and Terms Letter, the Purchaser may in its sole discretion
        increase its due diligence review and obtain additional BPO’s or other property
        evaluations. The additional review may be for any reason including but not
        limited to credit quality, property valuations, and data
        integrity.

      
        
          
          

        

        
          -31-

          
            

          

        

        
          
          

        

      

       

      

       

      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.

       

      

      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.

      
        
          
          

        

        
          -32-

          
            

          

        

        
          
          

        

      

      

       

      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.

      
        
          
          

        

        
          -33-

          
            

          

        

        
          
          

        

      

       

      

       

      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.

      
        
          
          

        

        
          -34-

          
            

          

        

        
          
          

        

      

       

      

       

      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):

      
        
          
          

        

        
          -35-

          
            

          

        

        
          
          

        

      

       

      

       

      (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.

      
        
          
          

        

        
          -36-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                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.

      
        
          
          

        

        
          -37-

          
            

          

        

        
          
          

        

      

       

      

       

      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;

      
        
          
          

        

        
          -38-

          
            

          

        

        
          
          

        

      

       

      

       

      (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.

      
        
          
          

        

        
          -39-

          
            

          

        

        
          
          

        

      

       

      

       

      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.

      
        
          
          

        

        
          -40-

          
            

          

        

        
          
          

        

      

       

      

       

      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.

      
        
          
          

        

        
          -41-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                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.

      
        
          
          

        

        
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                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.

      
        
          
          

        

        
          -43-

          
            

          

        

        
          
          

        

      

       

      

       

      (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.

      
        
          
          

        

        
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                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. 

      
        
          
          

        

        
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      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.

      
        
          
          

        

        
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      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

      
        
          
          

        

        
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      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.

      
        
          
          

        

        
          -48-

          
            

          

        

        
          
          

        

      

       

      

       

      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.

      
        
          
          

        

        
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                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.

      
        
          
          

        

        
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                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.

       

      ARTICLE
        VII

       

      AGENCY
        TRANSFER; PASS-THROUGH TRANSFER

       

      
        	 	
                Section
                  7.01

              	
                Removal
                  of Mortgage Loans from Inclusion Under this Agreement Upon an Agency
                  Transfer, or a Pass-Through Transfer on One or More Reconstitution
                  Dates.

              

      

       

      The
        Purchaser and the Company agree that with respect to any Pass-Through Transfer,
        Whole Loan Transfer or Agency Transfers, as applicable, the Company shall
        cooperate with the Purchaser in effecting such transfers and shall negotiate
        in
        good faith and execute any Reconstitution Agreement required to effectuate
        the
        foregoing; provided that, such Reconstitution Agreement shall not materially
        increase the Company’s obligations or liabilities hereunder, nor diminish any of
        the Company’s rights, and provide to any master servicer or the trustee, as
        applicable, and/or the Purchaser any and all publicly available 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, trustee or a master servicer shall reasonable request as to
        the
        related Mortgage Loans. Purchaser shall reimburse Company for any and all
        costs
        or expenses incurred by Company (i) in obtaining “accountant comfort letters”
with respect to information supplied in response to Purchaser requests, (ii)
        in
        connection with any due diligence performed in connection with a Pass-Through
        or
        Whole Loan Transfer or (iii) making the Mortgage Loan Documents or Servicing
        Files available to parties participating in a Pass-Through or Whole Loan
        Transfer, including without limitation, shipping costs. Such information
        may be
        included in any disclosure document prepared in connection with the Pass-Through
        Transfer, Whole Loan Transfer or Agency Transfer, as applicable; provided,
        however, that Company shall indemnify the Purchaser against any liability
        arising from any material omissions or misstatements in any information supplied
        by the Company and included in a disclosure document; and provided, further,
        that the Purchaser shall indemnify the Company against any liability arising
        from any information included in a disclosure document that was not supplied
        by
        the Company. The Company shall execute any Reconstitution Agreements required
        within a reasonable period of time after receipt of such agreements which
        time
        shall be sufficient for the Company and the Company’s counsel to review such
        agreements. Company shall use its Best Efforts to complete such review within
        ten (10) Business Days after mutual agreement as to the terms thereof, but
        such
        time shall not exceed fifteen (15) Business Days after mutual agreement as
        to
        the terms thereof.

      
        
          
          

        

        
          -51-

          
            

          

        

        
          
          

        

      

       

      

       

      The
        Company shall not be required to restate any representations and warranties
        as
        of the date of any Pass-Through Transfer, Whole Loan Transfer or Agency
        Transfers other than the representations and warranties set forth in Section
        3.01 (provided, that the Company shall not be required to restate the
        representation and warranty set forth in Section 3.01(j)).

       

      In
        the
        event of any Agency Transfer, Pass-Through or Whole Loan Transfer, the Company
        shall have no obligation to pay any custodial fees charged by the
        Agency.

       

      
        	 	
                Section
                  7.02

              	
                Purchaser’s
                  Repurchase and Indemnification
                  Obligations.

              

      

       

      Upon
        receipt by the Company of notice from Fannie Mae, Freddie Mac or the trustee
        of
        a breach of any Purchaser representation or warranty contained in any
        Reconstitution Agreement or a request by Fannie Mae, Freddie Mac or the trustee,
        as the case may be, for the repurchase of any Mortgage Loan transferred to
        Fannie Mae or Freddie Mac pursuant to an Agency Transfer or to a trustee
        pursuant to a Pass-Through Transfer, the Company shall promptly notify the
        Purchaser of same and shall, at the direction of the Purchaser, use its best
        efforts to cure and correct any such breach and to satisfy the requests or
        concerns of Fannie Mae, Freddie Mac, or the trustee related to such deficiencies
        of the related Mortgage Loans transferred to Fannie Mae, Freddie Mac, or
        the
        trustee.

       

      The
        Purchaser shall repurchase from the Company any Mortgage Loan transferred
        to
        Fannie Mae or Freddie Mac pursuant to an Agency Transfer or to a trustee
        pursuant to a Pass-Through Transfer with respect to which the Company has
        been
        required by Fannie Mae, Freddie Mac, or the trustee to repurchase due to
        a
        breach of a representation or warranty made by the Purchaser with respect
        to the
        Mortgage Loans, or the servicing thereof prior to the transfer date to Fannie
        Mae, Freddie Mac, or the trustee in any Reconstitution Agreement and not
        due to
        a breach of the Company’s representations or obligations thereunder or pursuant
        to this Agreement. The repurchase price to be paid by the Purchaser to the
        Company shall equal that repurchase price paid by the Company to Fannie Mae,
        Freddie Mac, or the third party purchaser plus all reasonable costs and expenses
        borne by the Company in connection with the cure of said breach of a
        representation or warranty made by the Purchaser and in connection with the
        repurchase of such Mortgage Loan from Fannie Mae, Freddie Mac, or the trustee,
        including, but not limited to, reasonable and necessary attorneys’
fees.

      
        
          
          

        

        
          -52-

          
            

          

        

        
          
          

        

      

       

      

       

      At
        the
        time of repurchase, the Custodian and the Company shall arrange for the
        reassignment of the repurchased Mortgage Loan to the Purchaser according
        to the
        Purchaser’s instructions and the delivery to the Custodian of any documents held
        by Fannie Mae, Freddie Mac, or the trustee with respect to the repurchased
        Mortgage Loan pursuant to the related Reconstitution Agreement. In the event
        of
        a repurchase, the Company shall, simultaneously with such reassignment, give
        written notice to the Purchaser that such repurchase has taken place, and
        amend
        the related Mortgage Loan Schedule to reflect the addition of the repurchased
        Mortgage Loan to this Agreement. In connection with any such addition, the
        Company and the Purchaser shall be deemed to have made as to such repurchased
        Mortgage Loan the representations and warranties set forth in this
        Agreement.

       

      ARTICLE
        VIII

       

      COMPANY
        TO COOPERATE

       

      
        	 	
                Section
                  8.01

              	
                Provision
                  of Information.

              

      

       

      During
        the term of this Agreement and provided such request will cause the Company
        to
        violate any applicable law or statute, 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, whether or not provided for herein, as shall be necessary, reasonable,
        or
        appropriate with respect to the Purchaser, any regulatory requirement pertaining
        to the Purchaser or the purposes of this Agreement. All such reports, documents
        or information shall be provided by and in accordance with all reasonable
        instructions and directions which the Purchaser may give. Purchaser shall
        pay
        any costs related to any special reports.

       

      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
                  8.02

              	
                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 five 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). If it has not already done so, the Company shall furnish
        promptly to the Purchaser copies of the statement specified above. Unless
        requested the Purchaser, the Company shall not be required to deliver any
        documents which are publicly available on EDGAR.

       

      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 or those of any Subservicer for the purpose
        of satisfying such prospective Purchaser that the Company and any Subservicer
        have the ability to service the Mortgage Loans as provided in this
        Agreement.

      
        
          
          

        

        
          -53-

          
            

          

        

        
          
          

        

      

       

      

       

      ARTICLE
        IX

       

      THE
        COMPANY

       

      
        	 	
                Section
                  9.01

              	
                Indemnification;
                  Third Party Claims.

              

      

       

      The
        Company shall indemnify the Purchaser and hold it harmless against any and
        all
        claims, losses, damages, penalties, fines, and forfeitures, including, but
        not
        limited to 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 (a) perform its duties and service
        the
        Mortgage Loans in strict compliance with the terms of this Agreement or any
        Reconstitution Agreement entered into pursuant to Section 7.01, and/or (b)
        comply with applicable law. The Company immediately shall notify the Purchaser
        if a claim is made by a third party with respect to this Agreement or any
        Reconstitution Agreement or the Mortgage Loans, shall promptly notify Fannie
        Mae, Freddie Mac, or the trustee with respect to any claim made by a third
        party
        with respect to any Reconstitution Agreement, 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 in the amount of $5,000 or less, 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 (a) service and administer the Mortgage Loans
        in
        strict compliance with the terms of this Agreement or any Reconstitution
        Agreement, and/or (b) comply with applicable law.

       

      
        	 	
                Section
                  9.02

              	
                Merger
                  or Consolidation of the Company.

              

      

       

      The
        Company shall keep in full effect its existence, rights and franchises as
        a
        corporation, and shall 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 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 (i) having a net worth of not less
        than
        $25,000,000, (ii) whose deposits are insured by the FDIC through the BIF
        or the
        SAIF, and (iii) which is a Fannie Mae-approved company in good
        standing.

      
        
          
          

        

        
          -54-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                Section
                  9.03

              	
                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 liability which would otherwise be imposed by reason of any breach of
        the
        terms and conditions of 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
                  9.04

              	
                Limitation
                  on Resignation and Assignment by Company.

              

      

       

      The
        Purchaser has entered into this Agreement with the Company and subsequent
        Purchasers 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 hereunder or
        delegate its rights or duties hereunder or any portion hereof (to other than
        a
        Subservicer) or sell or otherwise dispose of all or substantially all of
        its
        property or assets without the prior written consent of the Purchaser, which
        consent shall be granted or withheld in the sole discretion of the Purchaser;
        provided, however, that the Company may assign its right and obligations
        hereunder to any entity that is directly or indirectly owned or controlled
        by
        the Company and the Company guarantees the performance by such entity of
        all
        obligations hereunder.

       

      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 9.04, in the event that
        the
        Company either shall assign this Agreement or the servicing responsibilities
        hereunder or delegate its duties hereunder or any portion thereof (to other
        than
        a Subservicer) 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.

      
        
          
          

        

        
          -55-

          
            

          

        

        
          
          

        

      

       

      

       

      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
        three 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 which continues unremedied for a period of 30 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

       

      (iii) failure
        by the Company to maintain its license to do business in any jurisdiction
        where
        the Mortgage Property is located if such license is necessary for the Company
        to
        legally service the related Mortgage Loan; 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 decree 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 for three Business Days; or

      
        
          
          

        

        
          -56-

          
            

          

        

        
          
          

        

      

       

      

       

      (vii) the
        Company ceases to meet the qualifications of a Fannie Mae lender or servicer;
        or

       

      (viii) the
        Company fails to maintain a minimum net worth of $25,000,000; or

       

      (ix) the
        Company attempts to assign its right to servicing compensation hereunder
        or the
        Company attempts, without the consent of the Purchaser, 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 (to other than a Subservicer) in violation
        of
        Section 9.04.

       

      In
        each
        and every such case, so long as an Event of Default shall not have been
        remedied, in addition to whatsoever 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 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, 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 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.

              

      

      
        
          
          

        

        
          -57-

          
            

          

        

        
          
          

        

      

       

      

      

       

      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.

       

      In
        the
        event the Purchaser terminates the Company without cause with respect to
        some or
        all of the Mortgage Loans, the Purchaser shall be required to pay to the
        Company
        a Termination Fee in an amount equal to 2.0% of the outstanding principal
        balance of the terminated Mortgage Loans as of the date of such
        termination.

       

      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 9.04, 10.01, 11.01 (ii) or pursuant to Section 11.02
        after
        the 90 day period has expired, 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
        clauses (i) through (iii) of Section 9.02 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 Sections 3.03, 3.04,
        3.05
        and 3.07, it being understood and agreed that the provisions of such Sections
        3.01, 3.02, 3.03, 3.04, 3.05 and 3.07 shall be applicable to the Company
        notwithstanding any such sale, assignment, resignation or termination of
        the
        Company, or the termination of this Agreement.

      
        
          
          

        

        
          -58-

          
            

          

        

        
          
          

        

      

       

      

       

      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 subsections (f), (h), (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
        9.04, 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 and Escrow Account and all Mortgage 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 the Company and the Purchaser
        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.

       

      
        	 	
                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:

      
        
          
          

        

        
          -59-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	
              	(i)	
                if
                  to the Company:

              

      

       

      Countrywide
        Home Loans, Inc.,

      4500
        Park
        Grenada

      Calabasas,
        CA 91302

      Attention:
        David Spector

       

      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 Drive, Suite 200

      Irving,
        Texas 75014-1358

      Attention:
        Ralene Ruyle

       

      
        	 	
                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 accordance with Section
        14
        of the Purchase Agreement.

      
        
          
          

        

        
          -60-

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                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 and Assumption Agreement substantially
        in
        the form of Exhibit
        G
        hereto.
        Upon such assignment of rights and assumption of obligations, the assignee
        or
        designee shall accede to the rights and obligations hereunder of the Purchaser
        with respect to such Mortgage Loans and the Purchaser as assignor shall be
        released from all obligations hereunder with respect to such Mortgage Loans
        from
        and after the date of such assignment and assumption. All references to the
        Purchaser in this Agreement shall be deemed to include its assignee or
        designee.

       

      
        	 	
                Section
                  12.11

              	
                No
                  Personal Solicitation.

              

      

      

      From
        and
        after the related Closing Date, the Company 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 or independent mortgage brokerage
        companies on the Company’s behalf, to personally, by telephone or mail, solicit
        the Mortgagor under any Mortgage Loan for the purpose of refinancing such
        Mortgage Loan; provided, that the Company may solicit any Mortgagor for whom
        the
        Company has received a request for verification of mortgage, a request for
        demand for payoff, a mortgagor initiated written or verbal communication
        indicating a desire to prepay the related Mortgage Loan, or the mortgagor
        initiates a title search, provided further, it is understood and agreed that
        promotions undertaken by the Company or any of its affiliates which (i) concern
        optional insurance products or other additional projects, (ii) are directed
        to
        the general public at large, including, without limitation, mass mailings
        based
        on commercially acquired mailing lists, newspaper, radio and television
        advertisements, (iii) are directed to mortgagors who have a specific type
        of
        mortgage (i.e., balloon Mortgage Loans, LIBOR Mortgage Loans, etc.) or (iv)
        directed to those mortgagors whose mortgages fall within specific interest
        rate
        ranges shall not constitute solicitation under this Section 12.11 nor is
        the
        Company prohibited from responding to unsolicited requests or inquiries made
        by
        a Mortgagor or an agent of a Mortgagor. Notwithstanding the foregoing, the
        following solicitations, if undertaken by the Company or any affiliate of
        the
        Company, shall not be prohibited under this Section 12.11: (i) solicitations
        that are directed to the general public at large, including, without limitation,
        mass mailings based on commercially acquired mailing lists and newspaper,
        radio,
        television and other mass media advertisements; (ii) borrower messages included
        on, and statement inserts provided with, the monthly statements sent to
        Mortgagors; provided, however, that similar messages and inserts are sent
        to the
        borrowers of other mortgage loans serviced by the Company.

       

      
        
          
          

        

        
          -61-

          
            

          

        

        
          
          

        

      

      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

              	
                )

              
	 	
                )
                  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

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

      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.

              

      

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                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.

              

      

      
        
          
          

        

        
          B-2

          
            

          

        

        
          
          

        

      

       

      

       

      
        	 	
                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.

      

      
        
          
          

        

        
          B-3

          
            

          

        

        
          
          

        

      

      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.

      

       

      
        
          
          

        

        
          C-4-1

          
            

          

        

        
          
          

        

      

      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:________________________________    

              

      

      

      
        
          
          

        

        
          D-1-1

          
            

          

        

        
          
          

        

      

       

      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___________________________________  

              

      

      
 

      
        
          
          

        

        
          D-2-1

          
            

          

        

        
          
          

        

      

       

      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___________________________________

              

      

      

      
        
          
          

        

        
          D-2-2

          
            

          

        

        
          
          

        

      

      

      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:__________________________________

              

      

      

      

      
        
          
          

        

        
          E-1-1

          
            

          

        

        
          
          

        

      

      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___________________________________  

                

        

         

      

      

      
        
          
          

        

        
          E-2-1

          
            

          

        

        
          
          

        

      

       

      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___________________________________

                

        

      

      

       

      
        
          
          

        

        
          E-2-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        F

       

      MONTHLY
        REMITTANCE ADVICE

      

      

      
        
          
          

        

        
          F-1

          
            

          

        

        
          
          

        

      

       

      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.

      
        
          
          

        

        
          G-1

          
            

          

        

        
          
          

        

      

       

      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

      

       

      
        
          
          

        

        
          G-1

          
            

          

        

        
          
          

        

      

      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:
                   

              	
                 

              

      

       

      

      
        
          
          

        

        
          G-1

          
            

          

        

        
          
          

        

      

      This
        AMENDMENT No. 2 (the “Amendment”) is made this 1st
        day of
        September, 2004, by and between EMC Mortgage Corporation (the “Purchaser”) and
        Countrywide Home Loans, Inc. (the “Company”), to the Seller’s Warranties and
        Servicing Agreement dated as of September 1, 2002 (the “SWS Agreement”), by and
        between the Purchaser and the Company.

       

      WHEREAS,
        the Purchaser and the Company desire to amend the SWS Agreement as set forth
        herein.

       

      NOW,
        THEREFORE, for good and valuable consideration, the receipt and sufficiency
        of
        which are hereby acknowledged, the parties hereto hereby agrees as
        follows:

       

      SECTION
        1.  Defined
        Terms.
        Unless
        otherwise amended by the terms of this Amendment, terms used in this Amendment
        shall have the meanings assigned in the SWS Agreement.

       

      SECTION
        2.  Amendment.
        Effective as of September 1, 2004 the SWS Agreement is hereby amended as
        follows:

       

      (a) The
        following definition of Qualified Depository is modified by adding the word
        “fully” to it and now reads as follows:

       

      Qualified
        Depository:
        A
        depository the accounts of which are fully insured by the FDIC through BIF
        or
        SAIF or the debt obligations of which are rated AA (or the equivalent rating
        category) or better by a national recognized statistical rating
        organization.

       

      (b) The
        following definition is added to Article I of the SWS Agreement:

       

      Master
        Servicer:
        Wells
        Fargo Bank, National Association, or its successors in interest.

       

      (c) 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, California, Texas, Maryland or Minnesota, or (iii) a day on which
        banks in the States of New York, California, Texas, Maryland or Minnesota
        are
        authorized or obligated by law or executive order to be closed.

       

      (d) Clause
        (d) of Section 3.01 of the SWS Agreement is deleted in its entirety and replaced
        with the following:

       

      (d) Ability
        to Service.
        The
        Company is an approved 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 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) Section
        3.02(oo) of the SWS Agreement is hereby deleted in its entirety and replaced
        with the following:

       

      
        	 	
                (oo)

              	
                No
                  HOEPA or “High Cost” Loans.
                  No Mortgage Loan is classified as a “high cost” mortgage loan under the
                  Home Ownership and Equity Protection Act of 1994, as amended, nor
                  is any
                  Mortgage Loan a “high cost home,” “covered,” “high risk home” or
                  “predatory” loan under any applicable state, federal or local law (or a
                  similarly classified loan using different terminology under a law
                  imposing
                  heightened regulatory scrutiny or additional legal liability for
                  residential mortgage loans having high interest rates, points and/or
                  fees)
                  or any other statute or regulation providing assignee liability
                  to holders
                  of such mortgage loans.

              

      

       

      (f) The
        following representations and warranties are added to Section 3.02 of the
        SWS
        Agreement:

       

      
        	 	
                (xx)

              	
                No
                  Mortgage Loan originated on or after October 1, 2002 through March
                  6, 2003
                  is secured by Mortgaged Property located in the State of
                  Georgia;

              

      

       

      
        	 	
                (yy)

              	
                No
                  Mortgage Loan originated on or after March 7, 2003 is a “high cost home
                  loan” as defined under the Georgia Fair Lending
                  Act;

              

      

       

      
        	 	
                (zz)

              	
                With
                  respect to each Mortgage Loan, accurate and complete information
                  regarding
                  the borrower credit files related to such Mortgage Loan has been
                  furnished
                  on a monthly basis to credit reporting agencies in compliance with
                  the
                  provisions of the Fair Credit Reporting Act, 15 U.S.C. § 1681 et seq., and
                  the applicable implementing
                  regulations.

              

      

       

      (g) The
        following shall be added as the second sentence of the third paragraph of
        Section 4.01 of the SWS Agreement:

       

      In
        addition, the Company 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, 15 U.S.C. § 1681 et seq.,
        and the applicable implementing regulations, on a monthly basis.

       

      (h) Section
        6.04 of the SWS Agreement is deleted in its entirety and replaced with the
        following:

       

      Section
        6.04  Annual
        Statement as to Compliance.

       

      The
        Company will deliver to the Master Servicer on or before March 15 of each
        year,
        beginning with March 15, 2005 an Officer’s Certificate in a form acceptable for
        filing with the Securities and Exchange Commission as an exhibit to a Form
        10-K
        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, (ii) the Company has fully complied with the servicing
        provisions of this Agreement and (iii) to the best of such officer’s knowledge,
        based on such review, the Company 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. (“Annual Statement of
        Compliance”)

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

       

      (i) Section
        6.05 of the SWS Agreement is deleted in its entirety and replaced with the
        following:

       

      Section
        6.05  Annual
        Independent Certified Public Accountants’ Servicing Report.

       

      On
        or
        before March 15 of each year, beginning with March 15, 2005, 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 the Master Servicer in a form acceptable for filing with the Securities
        and
        Exchange Commission as an exhibit to a Form 10-K to the effect that such
        firm
        has examined certain documents and records relating to the servicing of mortgage
        loans by the Company generally that include a sampling of the Mortgage Loans,
        the provisions of Article II and Article IV of this Agreement have been complied
        with and, on the basis of such an examination conducted substantially in
        accordance with the Uniform Single Attestation Program for Mortgage Bankers,
        such servicing has been conducted in compliance with this Agreement, 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. (“Annual Independent
        Public Accountant’s Servicing Report”)

       

      (j) The
        following is added as Section 6.07 of the SWS Agreement:

       

      Section
        6.07  Annual
        Certification.

       

      (a) For
        so
        long as (1) the Mortgage Loans are being master serviced by the Master Servicer
        and (2) the Master Servicer is required by Section 302 of the Sarbanes-Oxley
        Act
        of 2002 to provide an annual certification, by March 15th of each year,
        beginning with March 15, 2005 (or if not a Business Day, the immediately
        preceding Business Day), an officer of the Company shall execute and deliver
        an
        Officer’s Certificate to the Master Servicer for the benefit of such Master
        Servicer and its officers, directors and affiliates, certifying as to the
        following matters:

       

      (i) 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 to the Master Servicer 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 last day of the period
        covered by such statements or reports;

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

       

      (ii) Based
        on
        my knowledge, the servicing information required to be provided to the Master
        Servicer by the Company under this Servicing Agreement has been provided
        to the
        Master Servicer;

       

      (iii) I
        am
        responsible for reviewing the activities performed by the Company under the
        Servicing Agreement and based upon my knowledge and the review required by
        this
        Servicing Agreement, and except as disclosed in the Annual Statement of
        Compliance or the Annual Independent Public Accountant’s Servicing Report
        submitted to the Master Servicer, the Servicer has, as of the last day of
        the
        period covered by the Annual Statement of Compliance, fulfilled its obligations
        under this Servicing Agreement; and

       

      (iv) I
        have
        disclosed to the Master Servicer all significant deficiencies relating to
        the
        Company’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 Servicing
        Agreement.

       

      (b) The
        Company shall indemnify and hold harmless the Master Servicer 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 Company or any of its officers, directors, agents or affiliates of its
        obligations under this Section 6.07 or the negligence, bad faith or willful
        misconduct of the Company in connection therewith. If the indemnification
        provided for herein is unavailable in whole or in part for any reason, then
        the
        Company agrees that it shall contribute to the amount paid or payable by
        the
        Master Servicer as a result of the losses, claims, damages or liabilities
        of the
        Master Servicer in such proportion as is appropriate to reflect the relative
        fault of the Company, in connection with a breach of the Company’s obligations
        under this Section 6.07 or the Company’s negligence, bad faith or willful
        misconduct in connection therewith.

       

      (k) Section
        10.01 is hereby modified by adding the word “or” at the end of clause (ix)
        thereof and inserting the following as clause (x):

       

      (x) failure
        by the Company to duly perform, within the required time period, its obligations
        under Section 6.04, 6.05 or 6.07 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 Company by
        any
        party to this Servicing Agreement or by any master servicer responsible for
        master servicing the Mortgage Loans pursuant to a securitization of such
        Mortgage Loans.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

       

      (l) Section
        12.03 of the SWS 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
        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.

       

      SECTION
        3. Effect
        of Amendment.
        Upon
        execution of this Amendment, the SWS Agreement shall be, and be deemed to
        be,
        modified and amended in accordance herewith and the respective rights,
        limitations, obligations, duties, liabilities and immunities of the Purchaser
        and the Company shall hereafter be determined, exercised and enforced subject
        in
        all respects to such modifications and amendments, and all the terms and
        conditions of this Amendment shall be deemed to be part of the terms and
        conditions of the SWS Agreement for any and all purposes. Except as modified
        and
        expressly amended by this Amendment, the SWS Agreement is in all respects
        ratified and confirmed, and all the terms, provisions and conditions thereof
        shall be and remain in full force and effect.

       

      SECTION
        4. Binding
        Effect.
        The
        provisions of this Amendment shall be binding upon and inure to the benefit
        of
        the respective successors and assigns of the parties hereto, and all such
        provisions shall inure to the benefit of the Purchaser and the
        Company.

       

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

       

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

       

      SECTION
        7.  Execution
        in Counterparts. This
        Amendment may be executed by the parties hereto in several counterparts,
        each of
        which shall be executed by the parties hereto and be deemed an original and
        all
        of which shall constitute together by one and the same agreement.

       

      SECTION
        8.  Governing
        Law. THIS
        AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
        NEW
        YORK, WITHOUT REFERENCE TO CONFLICT OF LAW PRINCIPLES, AND THE OBLIGATIONS,
        RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
        WITH THE LAWS OF THE STATE OF NEW YORK.

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, the parties have caused this Amendment to the SWS Agreement
        to
        be executed by their respective officers thereunto duly authorized as of
        the day
        and year first above written.

       

      
        	 	
                EMC
                  MORTGAGE CORPORATION

                 

                 

              
	 	
                By: _________________________________

              
	 	
                Name: _______________________________

              
	 	
                Title:
                   ________________________________

                 

                 

              
	 	
                COUNTRYWIDE
                  HOME LOANS, INC.

                 

                 

              
	 	
                By: _________________________________

              
	 	
                Name: _______________________________

              
	 	
                Title:
                   ________________________________

              

      

      

      

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      This
        AMENDMENT No. 3 (the “Amendment”) is made this 1st
        day of
        May, 2005, by and between EMC Mortgage Corporation (the “Purchaser”) and
        Countrywide Home Loans, Inc. (the “Company”), to the Seller’s Warranties and
        Servicing Agreement dated as of September 1, 2002 (the “SWS Agreement”), by and
        between the Purchaser and the Company.

       

      WHEREAS,
        the Purchaser and the Company desire to amend the SWS Agreement as set forth
        herein.

       

      NOW,
        THEREFORE, for good and valuable consideration, the receipt and sufficiency
        of
        which are hereby acknowledged, the parties hereto hereby agrees as
        follows:

       

      SECTION
        1.  Defined
        Terms.
        Unless
        otherwise amended by the terms of this Amendment, terms used in this Amendment
        shall have the meanings assigned in the SWS Agreement.

       

      SECTION
        2.  Amendment.
        Effective as of May 1, 2005 the SWS Agreement is hereby amended as
        follows:

       

      (a) The
        following representation and warranty is added to Section 3.02 of the SWS
        Agreement:

       

      
        	 	
                (aaa)

              	
                Any
                  Mortgage Loan with a Mortgaged Property in the State of Illinois
                  complies
                  with the Illinois Interest Act.

              

      

       

      SECTION
        3. Effect
        of Amendment.
        Upon
        execution of this Amendment, the SWS Agreement shall be, and be deemed to
        be,
        modified and amended in accordance herewith and the respective rights,
        limitations, obligations, duties, liabilities and immunities of the Purchaser
        and the Company shall hereafter be determined, exercised and enforced subject
        in
        all respects to such modifications and amendments, and all the terms and
        conditions of this Amendment shall be deemed to be part of the terms and
        conditions of the SWS Agreement for any and all purposes. Except as modified
        and
        expressly amended by this Amendment, the SWS Agreement is in all respects
        ratified and confirmed, and all the terms, provisions and conditions thereof
        shall be and remain in full force and effect.

       

      SECTION
        4. Binding
        Effect.
        The
        provisions of this Amendment shall be binding upon and inure to the benefit
        of
        the respective successors and assigns of the parties hereto, and all such
        provisions shall inure to the benefit of the Purchaser and the
        Company.

       

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

       

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

       

      SECTION
        7.  Execution
        in Counterparts. This
        Amendment may be executed by the parties hereto in several counterparts,
        each of
        which shall be executed by the parties hereto and be deemed an original and
        all
        of which shall constitute together by one and the same agreement.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      SECTION
        8.  Governing
        Law. THIS
        AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
        NEW
        YORK, WITHOUT REFERENCE TO CONFLICT OF LAW PRINCIPLES, AND THE OBLIGATIONS,
        RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE
        WITH THE LAWS OF THE STATE OF NEW YORK.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, the parties have caused this Amendment to the SWS Agreement
        to
        be executed by their respective officers thereunto duly authorized as of
        the day
        and year first above written.

       

      
        	 	
                EMC
                  MORTGAGE CORPORATION

                 

                 

              
	 	
                By: _________________________________

              
	 	
                Name: _______________________________

              
	 	
                Title:
                   ________________________________

                 

                 

              
	 	
                COUNTRYWIDE
                  HOME LOANS, INC.

                 

                 

              
	 	
                By: __________________________________

              
	 	
                Name: ________________________________

              
	 	
                Title:
                   _________________________________

              

      

      

      

      
        
          
          

        

        
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      AMENDMENT
        REG AB

      TO
        THE
        MASTER MORTGAGE LOAN PURCHASEAND SERVICING AGREEMENT

       

      This
        is
        Amendment Reg AB (“Amendment
        Reg AB”),
        dated
        as of January 1, 2006, by and between EMC Mortgage Corporation (the
“Purchaser”), and
        Countrywide Home Loans, Inc. (the “Company”)
        to
        that certain Seller’s Warranties and Servicing Agreement dated as of September
        1, 2002 by and between the Company and the Purchaser (as amended, modified
        or
        supplemented, the “Existing
        Agreement”).

       

      W
        I T N E
        S S E T H

       

      WHEREAS,
        the Company and the Purchaser have agreed, subject to the terms and conditions
        of this Amendment Reg AB that the Existing Agreement be amended to reflect
        agreed upon revisions to the terms of the Existing Agreement.

       

      Accordingly,
        the Company and the Purchaser hereby agree, in consideration of the mutual
        premises and mutual obligations set forth herein, that the Existing Agreement
        is
        hereby amended as follows:

      

      1.          Capitalized
        terms used herein but not otherwise defined shall have the meanings set forth
        in
        the Existing Agreement. The Existing Agreement is hereby amended by adding
        the
        following definitions in their proper alphabetical order:

      

      Commission:
        The
        United States Securities and Exchange Commission.

      

      Company
        Information:
        As
        defined in Section 2(g)(i)(A)(1).

      

      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 documents.

      

      Qualified
        Correspondent:
        Any
        Person from which the Company purchased Mortgage Loans, provided that the
        following conditions are satisfied: (i) such Mortgage Loans were either (x)
        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 or (y) individually re-underwritten
        by the Company to the Designated Guidelines at the time such Mortgage Loans
        were
        acquired by the Company; (ii) 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
        (iii)
        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 either Persons from which it purchased mortgage loans properly
        applied the underwriting criteria designated by the Company or the Mortgage
        Loans purchased by the Company substantially comply with the Designated
        Guidelines.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      Reconstitution:
        Any
        Securitization Transaction or Whole Loan Transfer.

      

      Reconstitution
        Agreement:
        An
        agreement or agreements entered into by the Company and the Purchaser and/or
        certain third parties in connection with a Reconstitution with respect to
        any or
        all of the Mortgage Loans serviced under the Agreement.

      

      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 subject to Regulation AB 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, rated
        or
        unrated mortgage-backed securities or (2) an issuance of publicly offered,
        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(c)(iii).

      

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

      

      Static
        Pool Information:
        Static
        pool information as described in Item 1105 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 Company or a
        Subservicer.

       

      
        
          
          

        

        
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      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;
        provided, however, that the term “Subservicer” shall not include any master
        servicer other than the Company, or any special servicer engaged at the request
        of a Depositor, Purchaser or investor in a Securitization Transaction, nor
        any
“back-up servicer” or trustee performing servicing functions on behalf of a
        Securitization Transaction engaged at the request of a Depositor, Purchaser,
        or
        investor in a Securitization Transaction.

      

      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 of some or all of the Mortgage Loans, other than a
        Securitization Transaction.

      

      2.         
        The
        Purchaser and the Company agree that the Existing Agreement is hereby amended
        by
        adding the following provisions:

      

      (a)        Intent
        of the Parties; Reasonableness.

      

      The
        Purchaser and the Company acknowledge and agree that the purpose of Article
        2 of
        this Agreement 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. Although Regulation AB is applicable by its terms only to offerings
        of asset-backed securities that are registered under the Securities Act,
        the
        parties acknowledges that investors in privately offered securities may require
        that the Purchaser or any Depositor provide comparable disclosure in
        unregistered offerings. The parties agree over time to negotiate in good
        faith
        with respect to the provision of comparable disclosure in private offerings.
        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. The Company agrees to negotiate in good faith with
        the
        Purchaser or any Depositor with regard to any reasonable requests 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 to permit the Purchaser or such
        Depositor to comply with the provisions of Regulation AB, together with such
        disclosures relating to the Company, and any parties or items identified
        in
        writing by the Purchaser, including, any Subservicer, any Third-Party Originator
        and the Mortgage Loans, or the servicing of the Mortgage Loans necessary
        in
        order to effect such compliance, in the Purchaser’s or Depositor’s reasonable
        determination. 

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      The
        Purchaser agrees that it will cooperate with the Company and provide sufficient
        and timely notice of any information requirements pertaining to a Securitization
        Transaction. The Purchaser will make all reasonable efforts to limit requests
        for information, reports or any other materials to items the Purchaser
        reasonably believes is required for compliance with Regulation AB, and shall
        not
        request information which is not required for such compliance.

      

      (b)        Additional
        Representations and Warranties of the Company.

      

      (i) The
        Company shall be deemed to represent to the Purchaser and to any Depositor,
        as
        of the date on which information is first provided to the Purchaser or any
        Depositor under Section 2(c) 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 could 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 by the related
        Depositor of a type described in Item 1119 of Regulation AB.

      

      (ii) If
        so
        requested by the Purchaser or any Depositor on any date following the
        date
        on which information is first provided to the Purchaser or any Depositor
        under
        Section 2(c),
        the
        Company shall, within five Business Days following such request, confirm
        in
        writing the accuracy of the representations and warranties set forth in
        paragraph (i) 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.

      

      (c)        Information
        to Be Provided by the Company.

      

      In
        connection with any Securitization Transaction the Company shall (1) within
        five
        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 reasonably required
        for
        compliance with Regulation AB, the information and materials specified in
        paragraphs (i), (ii), (iii) and (vi) of this Section 2(c), and (2) as promptly
        as practicable following notice to or discovery by the Company, provide to
        the
        Purchaser and any Depositor (as required by Regulation AB) the information
        specified in paragraph (iv) of this Section.

       

      
        
          
          

        

        
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      (i) If
        so
        requested by the Purchaser or any Depositor, the Company shall provide such
        information regarding (x) the Company, as originator of the Mortgage Loans
        (including as an acquirer of Mortgage Loans from a Qualified Correspondent,
        if
        applicable), or (y) as applicable, each Third-Party Originator, and (z) as
        applicable, each Subservicer, as is requested for the purpose of compliance
        with
        Items 1103(a)(1), 1105 (subject to paragraph (b) below), 1110, 1117 and 1119
        of
        Regulation AB. Such information shall include, at a minimum:

      

      (A)        the
        originator’s form of organization;

      

      (B)        to
        the
        extent material, 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; if material,
        information regarding the size and composition of the originator’s origination
        portfolio; and information that may be material 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
        brief
        description of any material legal or governmental proceedings pending (or
        known
        to be contemplated by a governmental authority) against the Company, each
        Third-Party Originator, if applicable, and each Subservicer; and 

      

      (D)        a
        description of any affiliation or relationship between the Company, each
        Third-Party Originator, if applicable, 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 or in the related
        Reconstitution Agreement within five Business Days 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.

       

      
        
          
          

        

        
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      (ii)        If
        so
        requested by the Purchaser or any Depositor, and required by Regulation AB
        or as
        otherwise agreed upon by the Company, the Purchaser and/or the 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 (a) the Company, if the Company is an originator
        of Mortgage Loans (including as an acquirer of Mortgage Loans from a Qualified
        Correspondent, if applicable), and/or (b) as applicable, each Third-Party
        Originator. Such Static Pool Information shall be prepared by the Company
        (or,
        if applicable, the 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, as applicable) 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.

      

      Promptly
        following notice or discovery of a material error (as determined in Company’s
        sole discretion), 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), 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 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), agreed-upon procedures letters
        of
        certified public accountants 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, if applicable, 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 shall be limited to any
        Sponsor, any Depositor, any broker dealer acting as underwriter, placement
        agent
        or initial purchaser with respect to a Securitization Transaction or any
        other
        party that is reasonably and customarily entitled to receive such statements
        and
        letters in 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.

       

      
        
          
          

        

        
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      (iii)        If
        reasonably 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 reasonably requested for the
        purpose of compliance with Item 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 reasonable determination 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;

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

       

      (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)        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, if applicable, any Third-Party Originator to)
        (a)
        provide notice within two (2) Business Days to the Purchaser, any Master
        Servicer and any Depositor in writing of (1) any merger, consolidation or
        sale
        of substantially all of the assets of the Company, (2) 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 the Agreement or any Reconstitution Agreement
        that qualifies as an “entry into a material definitive agreement” under Item
        1.01 of the form 8-K, and (b) provide prompt notice to the Purchaser, the
        Master
        Servicer and the Depositor of (1) any Event of Default under the terms of
        the
        Agreement or any Reconstitution Agreement to the extent not known by such
        Purchaser, Master Servicer or Depositor, and (2) any material litigation
        or
        governmental proceedings involving the Company, any Subservicer or any Third
        Party Originator.

       

      
        
          
          

        

        
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      (v)        To
        the
        extent the Purchaser or any Depositor does not itself have an affiliation
        or
        relationship required to be disclosed under Item 1119 of Regulation AB that
        develops following the closing date of a Securitization Transaction, the
        Company
        shall provide to the Purchaser and any Depositor a description of any such
        affiliation or relationship involving the Company, any Subservicer or any
        Third-Party Originator no later than 15 calendar days prior to the date the
        Depositor is required to file its Form 10-K disclosing such affiliation or
        relationship. For purposes of the foregoing, the Company (1) shall be entitled
        to assume that the parties to the Securitization Transaction with whom
        affiliations or relations must be disclosed are the same as on the closing
        date
        if it provides a written request (which may be by e-mail) to the Depositor
        or
        Master Servicer, as applicable, requesting such confirmation and either obtains
        such confirmation or receives no response within three (3) Business Days,
        (2)
        shall not be obligated to disclose any affiliations or relationships that
        may
        develop after the closing date for the Securitization Transaction with any
        parties not identified to the Company pursuant to clause (D) of paragraph
        (i) of
        this Section 2(c), and (3) shall be entitled to rely upon any written
        identification of parties provided by the Depositor, the Purchaser or any
        master
        servicer.

      

      (v)        As
        a
        condition to the succession to the Company or any Subservicer as servicer
        or
        subservicer under this Agreement or any applicable Reconstitution Agreement
        related thereto 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 and any Depositor of such succession or appointment and (y) in
        writing, all information reasonably requested by the Purchaser 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.

      

      (vi)        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, the Company shall, to the extent
        the
        Company 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 Mortgage Loan 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 Mortgage Loan representations or warranties or transaction covenants
        under the Existing Agreement, as amended herein (Item 1121(a)(12) of Regulation
        AB): and 

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      (c)        information
        regarding any Mortgage Loan 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).

      

      (vii)        In
        addition to such information as the Company, as servicer, is obligated to
        provide pursuant to other provisions of this Agreement, if reasonably requested
        by the Purchaser or any Depositor, the Company shall provide such information
        which is available to the Company, regarding the servicing of the Mortgage
        Loans
        as is reasonably required to facilitate preparation of distribution reports
        in
        accordance with Item 1121 of Regulation AB.

      

      (d)        Servicer
        Compliance Statement.

      

      On
        or
        before March 5 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 (i) a review of the Company’s servicing activities
        during the immediately preceding calendar year (or applicable portion thereof)
        and of its performance under the servicing provisions of this 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 servicing 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.

      

      (e)        Report
        on Assessment of Compliance and Attestation.

      

      (i)        On
        or
        before March 5 of each calendar year, commencing in 2007, the Company
        shall:

      

      (A)        deliver
        to the Purchaser 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 applicable Servicing Criteria specified on a certification
        substantially in the form of Exhibit A hereto (wherein “investor” shall mean the
        Master Servicer) delivered to the Purchaser concurrently with the execution
        of
        this Agreement;

      

      (B)        deliver
        to the Purchaser 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;

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

      (C)        if
        required by Regulation AB, cause each Subservicer and each Subcontractor
        determined by the Company pursuant to Section 2(f)(ii) to be “participating in
        the servicing function” within the meaning of Item 1122 of Regulation AB (each,
        a “Participating Entity”), 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 2(e)(i); and

      

      (D)        deliver
        or, if required by Regulation AB, cause each Subservicer and Subcontractor
        described in Section 2(e)(i)(C) above to deliver to the Purchaser, Depositor
        or
        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, signed by the appropriate officer of the Company, in the form
        attached hereto as Exhibit B; provided that such certification delivered
        by the
        Company may not be filed as an exhibit to, or included in, any filing with
        the
        Commission.

      

      The
        Company acknowledges that the party identified in clause (i)(D) 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. Neither the
        Purchaser nor any Depositor will request deliver of a certification under
        clause
        (D) above unless the Purchaser, Depositor or any other Person is required
        under
        the Exchange Act to file an annual report on Form 10-K with respect to an
        issuing entity whose asset pool includes Mortgage Loans.

      

      (ii)        Each
        assessment of compliance provided by a Subservicer pursuant to Section
        2(e)(i)(A) shall address each of the applicable Servicing Criteria specified
        on
        a certification substantially in the form of Exhibit A hereto delivered to
        the
        Purchaser concurrently with the execution of this Agreement or, in the case
        of a
        Subservicer subsequently appointed as such, on or prior to the date of such
        appointment. An assessment of compliance provided by a Participating Entity
        pursuant to Section 2(e)(i)(C) need not address any elements of the Servicing
        Criteria other than those specified by the Company pursuant to Section
        2(f).

      

      (iii)        If
        reasonably requested by the Purchaser or any Depositor, the Company shall
        provide to the Purchaser, any Master Servicer or any Depositor, evidence
        of the
        authorization of the person signing any certification or statement pursuant
        to
        Section 2(d) or 2(e) of this Agreement.

      

      (f)        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 this Agreement
        or any related Reconstitution Agreement unless the Company complies with
        the
        provisions of paragraph (i) of this Subsection (f). 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 related Reconstitution Agreement unless the Company complies with
        the
        provisions of paragraph (ii) of this Subsection (f).

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

      (i)        It
        shall
        not be necessary for the Company to seek the consent of the Purchaser or
        any
        Depositor to the utilization of any Subservicer. If required by Regulation
        AB,
        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(b), 2(c)(iii), 2(c)(v),
        2(d),
        and 2(e) of this Agreement , and to provide the information required with
        respect to such Subservicer under Section 2(c)(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 2(d), any assessment of
        compliance and attestation required to be delivered by such Subservicer under
        Section 2(e) and any certification required to be delivered to the Person
        that
        will be responsible for signing the Sarbanes Certification under Section
        2(e) as
        and when required to be delivered.

      

      (ii)        It
        shall
        not be necessary for the Company to seek the consent of the Purchaser or
        any
        Depositor to the utilization of any Subcontractor. If required by Regulation
        AB,
        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 of the role and function of each
        Subcontractor utilized by the Company or any Subservicer, specifying (A)
        the
        identity of each such Subcontractor, (B) which (if any) of such Subcontractors
        are Participating Entities, and (C) which elements of the Servicing Criteria
        will be addressed in assessments of compliance provided by each Participating
        Entity identified pursuant to clause (B) of this paragraph.

      

      The
        Company shall cause any such Participating Entity used by the Company (or
        by any
        Subservicer) for the benefit of the Purchaser and any Depositor to comply
        with
        the provisions of Section 2(e) of this Agreement. The Company shall be
        responsible for obtaining from each Participating Entity and delivering to
        the
        Purchaser and any Depositor any assessment of compliance and attestation
        and
        certificate required to be delivered by such Participating Entity under Section
        2(e), in each case as and when required to be delivered.

      

      (g)        Indemnification;
        Remedies.
        

      

      (i)        The
        Company
        shall
        indemnify the Purchaser and each of the following parties participating
        in a Securitization Transaction: each
        sponsor and issuing entity; each Person responsible for the 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 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 and employees 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:

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      (A)(1)        any
        untrue statement of a material fact contained or alleged to be contained
        in
any
        written information, written report, certification or other material
        provided
under
        this Amendment Reg AB
        by or on
        behalf of the Company,
        or provided under this Amendment Reg AB by or on behalf of any Subservicer,
        Participating Entity or, if applicable, Third-Party Originator (collectively,
        the “Company Information”),
        or (2)
        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 (2) 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;

      

      (B)        any
        failure by the Company, any Subservicer, any Participating Entity or any
        Third-Party
        Originator to deliver any information, report, certification, accountants’
letter or other material when and as required under this Amendment Reg AB,
        including any failure by the Company to identify pursuant to Section 2(f)(ii)
        any Participating Entity; or

      

      (C)        any
        breach by the Company of a representation or warranty set forth in Section
        2(b)(i) or in a writing furnished pursuant to Section 2(b)(ii) 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(b)(ii) to the extent made as of a date subsequent to such closing
        date.

      

      In
        the
        case of any failure of performance described in clause (i)(B) of this Section,
        the Company shall promptly reimburse the Purchaser, any Depositor, as
        applicable, and each Person responsible for the 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 Participating Entity or any Third-Party
        Originator.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      

      (ii)      
         (A)        Any
        failure by the Company, any Subservicer, any Participating Entity or any
        Third-Party
        Originator to deliver any information, report, certification, accountants’
letter or other material when and as required under this Amendment Reg AB
        ,
        which continues unremedied for three Business Days after receipt by the Company
        and the applicable Subservicer, Subcontractor, or Third-Party Originator
        of
        written notice of such failure from the Purchaser or Depositor shall, except
        as
        provided in clause (B) of this paragraph, 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
        related thereto without payment (notwithstanding anything in this Agreement
        or
        any applicable Reconstitution Agreement related thereto to the contrary)
        of any
        compensation to the Company (and if the Company 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);
provided,
        however
        it is
        understood that the Company shall retain any rights pursuant to which it
        may be
        entitled to receive reimbursement for unreimbursed Monthly Advances and
        Servicing Advances made by the Company under this Agreement and/or any
        applicable Reconstitution Agreement. Notwithstanding anything to the contrary
        set forth herein, 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.

      

      (B)        Any
        failure by the Company, any Subservicer or any Participating Entity to
        deliver any information, report, certification or accountants’ letter required
        under Regulation AB when and as required under Section 2(d) or 2(e), including
        any failure by the Company to identify a Participating Entity, 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 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 to the contrary) of any compensation to the Company; provided, however
        it is
        understood that the Company shall retain any rights pursuant to which it
        may be
        entitled to receive reimbursement for unreimbursed Monthly Advances and
        Servicing Advances made by the Company under this Agreement and/or any
        applicable Reconstitution Agreement. Notwithstanding anything to the contrary
        set forth herein, 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.

      

      (C)        The
        Company shall promptly reimburse the Purchaser (or any affected 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 Company, 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.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      

      (iii)        The
        Purchaser agrees to indemnify and hold harmless the Company, any Subservicer,
        any Participating Entity, and, if applicable, any Third-Party Originator,
        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 and employees of each of
        the
        foregoing 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
any
        untrue statement or alleged untrue statement of any material fact contained
        in
        any filing with the Commission with respect to a Securitization Transaction
        or
        the omission or alleged omission to state in any filing with the Commission
        with
        respect to a Securitization Transaction
        a
        material fact required to be stated or necessary to be stated in order to
        make
        the statements therein, in the light of the circumstances under which they
        were
        made, not misleading,
        in each
        case to the extent, but only to the extent, that such untrue statement, alleged
        untrue statement, omission, or alleged omission relates to any filing with
        the
        Commission with respect to a Securitization Transaction other than the Company
        Information.

      

      (iv)        If
        the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless the indemnified party, then the indemnifying party 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 uncured 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 indemnifying party on the
        other.

      

      (v)        This
        indemnification shall survive the termination of this Amendment Reg AB or
        the
        termination of any party to this Amendment Reg AB.

      

      3.        Notwithstanding
        any other provision of this Amendment Reg AB, the Company shall seek the
        consent
        of the Purchaser for the utilization of all Subservicers and Participating
        Entities, when required by and in accordance with the terms of the Existing
        Agreement.

       

      4.        The
        Existing Agreement is hereby amended by adding the Exhibits attached hereto
        as
        Exhibit A and Exhibit B to the end thereto. References in this Amendment
        Reg AB
        to “this Agreement” or words of similar import (including indirect references to
        the Agreement) shall be deemed to be references to the Existing Agreement
        as
        amended by this Amendment Reg AB. Except as expressly amended and modified
        by
        this Amendment Reg AB, the Agreement shall continue to be, and shall remain,
        in
        full force and effect in accordance with its terms. In the event of a conflict
        between this Amendment Reg AB and any other document or agreement, including
        without limitation the Existing Agreement, this Amendment Reg AB shall
        control.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

       

      5.        All
        notification pursuant to Section 2(c)(iv) 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

      

      All
        notification pursuant to Section 2(c)(iv)(4) 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

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      

      All
        notifications to any Master Servicer, to the extent such “Master Servicer” is
        Wells Fargo, should be sent to:

      

      UPS/FedEx
        Delivery: 

      

      9062
        Old
        Annapolis Road

      Columbia,
        MD 21045

      Attention:
        Corporate Trust Group, [Insert Deal Name]

      

      USPS
        Delivery: 

      

      P.O.
        Box
        98

      Columbia,
        MD 21046

      Attention:
        Corporate Trust Group, [Insert Deal Name]

       

      6.        This
        Amendment Reg AB shall be governed by and construed in accordance with the
        laws
        of the State of New York without reference to its conflict of laws provisions
        (other than Section 5-1401 of the General Obligation Law), and the obligations,
        rights and remedies of the parties hereunder shall be determined accordance
        with
        such laws.

       

      7.        This
        Amendment Reg AB may be executed in one or more counterparts and by different
        parties hereto on separate counterparts, each of which, when so executed,
        shall
        constitute one and the same agreement. This Amendment Reg AB will become
        effective as of the date first mentioned above. This
        Amendment Reg AB shall bind and inure to the benefit of and be enforceable
        by
        the Company and the Purchaser and the respective permitted successors and
        assigns of the Company and the successors and assigns of the
        Purchaser.

      

       

      [Signature
        Page Follows]

      
        
          
            

          

          
          

        

        
          17

          
            

          

        

        
          
          

          
          

        

      

       

      IN
        WITNESS WHEREOF, the 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 
	 	 	 
	 	 	Purchaser 
	 	 	 
	 	 	By:__________________ 
	 	 	Name:________________ 
	 	 	Title:_________________ 
	 	 	 
	 	 	COUNTRYWIDE HOME LOANS,
                INC. 
	 	 	 
	 	 	Company 
	 	 	 
	 	 	By:__________________ 
	 	 	Name:________________ 
	 	 	Title:_________________ 

      

       

      
        Signature
          page to Amendment Reg AB

      

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        A

      

      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 applicable criteria identified 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

              

      

       

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

       

      
        	
                 Servicing
                  Criteria 

              	 
	
                 Reference

              	
                 Criteria

              	
                 Applicable
                  Servicing Criteria

              
	
                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

              

      

       

      
        
          
          

        

        
          A-2

          
            

          

        

        
          
          

        

      

       

       

      
        	
                 Servicing
                  Criteria 

              	 
	
                 Reference

              	
                 Criteria

              	
                 Applicable
                  Servicing Criteria

              
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's mortgage loans
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	
                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

              

      

      
        
          A-

          
          

        

        
          A-3

          
            

          

        

        
          
          

        

      

      

      
        	
                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: ____________________ 
	 	 	 
	 	 	 

      

       

       

      

       

      
        
          
          

        

        
          A-4

          
            

          

        

        
          
          

        

      

        

      EXHIBIT
        B

       

      FORM
        OF
        ANNUAL CERTIFICATION

       

      
        	Re:        
                 	
                The
                  [ ] agreement dated as of [ ],
                  200[ ] (the “Agreement”), among [IDENTIFY
                  PARTIES]

              

      

       

      I,
        ________________________________, the _______________________ of Countrywide
        Home Loans, Inc., certify to [the Purchaser], [the Depositor], [Master
        Servicer], [Securities Administrator] or [Trustee], and its officers, with
        the
        knowledge and intent that they will rely upon this certification,
        that:

       

      (1)        I
        have
        reviewed the servicer compliance statement of the Company provided in accordance
        with Item 1123 of Regulation AB (the “Compliance Statement”), the report on
        assessment of the Company’s compliance with the servicing criteria set forth in
        Item 1122(d) of Regulation AB (the “Servicing Criteria”), provided in accordance
        with Rules 13a-18 and 15d-18 under Securities Exchange Act of 1934, as amended
        (the “Exchange Act”) and Item 1122 of Regulation AB (the “Servicing
        Assessment”), the registered public accounting firm’s attestation report
        provided in accordance with Rules 13a-18 and 15d-18 under the Exchange Act
        and
        Section 1122(b) of Regulation AB (the “Attestation
        Report”), and all servicing reports, officer’s certificates and other
        information relating to the servicing of the Mortgage Loans by the Company
        during 200[ ] that were delivered by the Company to the [Depositor] [Master
        Servicer] [Securities Administrator] or [Trustee] pursuant to the Agreement
        (collectively, the “Company Servicing Information”);

       

      (2)        Based
        on
        my knowledge, the Company Servicing Information, taken as a whole, does not
        contain any untrue statement of a material fact or omit to state a material
        fact
        necessary to make the statements made, in the light of the circumstances
        under
        which such statements were made, not misleading with respect to the period
        of
        time covered by the Company Servicing Information;

       

      (3)        Based
        on
        my knowledge, all of the Company Servicing Information required to be provided
        by the Company under the Agreement has been provided to the [Depositor] [Master
        Servicer] [Securities Administrator] or [Trustee];

       

      (4)        I
        am
        responsible for reviewing the activities performed by the Company as servicer
        under the Agreement, and based on my knowledge and the compliance review
        conducted in preparing the Compliance Statement and except as disclosed in
        the
        Compliance Statement, the Servicing Assessment or the Attestation Report,
        the
        Company has fulfilled its obligations under the Agreement; and

       

      

      [Intentionally
        Left Blank]

       

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

       

      (5)        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 each Subservicer and Participating Entity
        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
        H-2

       

      EMC
        MORTGAGE CORPORATION SERVICING AGREEMENT

       

      
 

      

      ______________________________________________________________________________

      

      

      

      

      

      

      STRUCTURED
        ASSET MORTGAGE INVESTMENTS II INC.

      Owner

      

      and

      

      EMC
        MORTGAGE CORPORATION

      Servicer

      

      

      

      

      SERVICING
        AGREEMENT

      

      Dated
        as
        of September 1, 2006

      

      

      

      

      

      _________________________________________________________________

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBITS

      

      

      Exhibit
        A Mortgage
        Loan Schedule

      

      Exhibit
        B Custodial
        Account Letter Agreement

      

      Exhibit
        C Escrow
        Account Letter Agreement

      

      Exhibit
        D Form
        of
        Request for Release

      

      Exhibit
        E Reporting
        Data for Monthly Report

      

      Exhibit
        F Reporting
        Data for Defaulted Loans

      

      Exhibit
        G Form
        of
        Owner Certification

      

      Exhibit
        H Summary
        of Regulation AB Servicing Criteria

      

      Exhibit
        I Summary
        of Applicable Regulation AB Requirements

      

      Exhibit
        J Servicing
        Criteria to be Addressed in Assessment of Compliance

      

      Exhibit
        K Reporting
        Data for Realized Losses and Gains

      

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      THIS
        IS A
        SERVICING AGREEMENT, dated as of September 1, 2006, and is executed between
        Structured Asset Mortgage Investments II Inc. (the "Owner") and EMC 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:
        The
        procedures, including prudent collection and loan administration procedures,
        and
        the standard of care (i) employed by prudent mortgage servicers which service
        mortgage loans of the same type as the Mortgage Loans in the jurisdictions
        in
        which the related Mortgage Properties are located or (ii) in accordance with
        the
        Fannie Mae Guide or Freddie Mac Guide, subject to any variances negotiated
        with
        Fannie Mae or
        Freddie Mac and
        subject to the express provisions of this Agreement. Such standard of care
        shall
        not be lower than that the Servicer customarily employs and exercises in
        servicing and administering similar mortgage loans for its own account and
        shall
        be in full compliance with all federal, state, and local laws, ordinances,
        rules
        and regulations.

      

      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 may permit
        conversion to fixed interest rates.

      

      Business
        Day:
        Any day
        other than (i) a Saturday or Sunday, or (ii) a legal holiday in the States
        of
        Maryland, Minnesota, New York or the jurisdiction in which the Servicer conducts
        its servicing activities, or (iii) a day on which banks in the States of
        Maryland, Minnesota, New York or the jurisdiction in which the Servicer conducts
        its servicing activities are authorized or obligated by law or executive
        order
        to be closed.

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      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
        or SEC:
        The
        Securities and Exchange Commission.

      

      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:
        One or
        more demand account or accounts created and maintained pursuant to Section
        4.04
        which shall be entitled "EMC Custodial Account in trust for Owner of Whole
        Loan
        Mortgages and various Mortgagors" established at a Qualified Depository,
        each of
        which accounts shall be held by such Qualified Depository in a fiduciary
        capacity, separate and apart from its funds and general assets.

      

      Custodian:
        Wells
        Fargo Bank, National Association, or such other custodian as Owner shall
        designate. 

      

      Cut-off
        Date:
        The
        open of business on September 1, 2006.

      

      Delinquent:
        As
        defined in the related pooling and servicing agreement.

      

      Depositor:
        The
        depositor, as such term is defined in Regulation AB, with respect to any
        Pass-Through Transfer.

      

      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 each 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.

      

      Escrow
        Account:
        The
        separate trust account or accounts created and maintained pursuant to Section
        4.06 which shall be entitled "Escrow Account, in trust for Structured Asset
        Mortgage Investment II Inc., 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.

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      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.

      

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

      

      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.

      

      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:
        Amounts, other than Insurance Proceeds and Condemnation Proceeds, 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.

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      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.

      

      Master
        Servicer:
        Wells
        Fargo Bank, National Association, its successors in interest and assigns,
        or any
        successor thereto designated by the Owner.

      

      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.

      

      Mortgagor:
        The
        obligor on a Mortgage Note. 

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      Net
        Liquidation Proceeds:
        As to
        any Mortgage Loan, Liquidation Proceeds net of unreimbursed Servicing Advances,
        Servicing Fees and Monthly Advances and expenses incurred by the Servicer
        in
        connection with the liquidation of the Mortgage Loan and the related Mortgaged
        Property.

      

      Nonrecoverable
        Advance:
        Any
        advance previously made by the Servicer pursuant to Section 5.03 or any
        Servicing Advance proposed to be made by the Servicer in respect of a Mortgage
        Loan or REO Property which, in the good faith judgment of the Servicer, may
        not
        be ultimately recoverable by the Servicer from Liquidation Proceeds or Insurance
        Proceeds on such Mortgage Loan or REO Property as provided herein. The
        determination by the Servicer that it has made a Nonrecoverable Advance,
        or that
        a proposed advance may constitute 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.

      

      Officer's
        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.

      

      Owner:
        Structured Asset Mortgage Investments II Inc., its successors in interest
        and
        assigns (including the Trustee in connection with a Pass-Through
        Transfer).

      

      Partial
        Principal Prepayment:
        A
        Principal Prepayment by a Mortgagor of a partial principal balance of a Mortgage
        Loan.

      

      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.

      

      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 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;

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (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 (including any Trustee or the
        Master Servicer) 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
        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 (including
        any
        Trustee or the Master Servicer) 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 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 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; 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 (including
        money market or common trust funds for which any Trustee or the Master Servicer
        or any affiliate thereof acts as a manager or an advisor) and which money
        market
        funds are rated in one of the two highest rating categories by each Rating
        Agency;

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

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

      

      Prepayment
        Interest Excess:
        With
        respect to any Remittance Date, for each Mortgage Loan that was the subject
        of a
        Principal Prepayment in full or in part during the portion of the related
        Prepayment Period occurring between the first day of the calendar month in
        which
        such Remittance Date occurs and the Determination Date of the calendar month
        in
        which such Remittance Date occurs, an amount equal to interest (to the extent
        received) at the applicable Mortgage Loan Remittance Rate on the amount of
        such
        Principal Prepayment for the number of days commencing on the first day of
        the
        calendar month in which such Remittance Date occurs and ending on the last
        date
        through which interest is collected from the related Mortgagor.

      

      Prepayment
        Interest Shortfall:
        With
        respect to any Remittance Date, for each such Mortgage Loan that was the
        subject
        of a Principal Prepayment during the portion of the related Prepayment Period
        occurring between the first day of the related Prepayment Period and the
        last
        day of the calendar month preceding the month in which such Remittance Date
        occurs, an amount equal to interest (to be paid by the Servicer out of its
        own
        funds without reimbursement therefor) at the applicable Mortgage Loan Remittance
        Rate on the amount of such Principal Prepayment for the number of days
        commencing on the date on which the prepayment is applied and ending on the
        last
        day of the calendar month preceding such Remittance Date. 

      

      Prepayment
        Period:
        As to
        any Distribution Date and each Principal Payment in full, the period commencing
        on the 16th day of the month prior to the month in which the related
        Distribution Date occurs (or with respect to the first Distribution Date,
        the
        period commencing on the Cut-off Date) and ending on the 15th day of the
        month
        in which such Distribution Date occurs. With respect to any Distribution
        Date
        and each partial Principal Prepayment, the calendar month prior to the month
        of
        such Distribution 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
        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.

      

      
        
          
          

        

        
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      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, (b) a depository, the accounts of which are insured by the FDIC
        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 either of Moody’s Investors
        Service, Inc. or Fitch, Inc., or (c) a depository, the short-term debt
        obligations, or other short-term deposits of which are rated at least ‘A-2’ and
        the long-term unsecured debt obligations of which are rated at least ‘AA-’ by
        Standard & Poor's Ratings Service, a division of The McGraw Hill Companies
        Inc.

      

      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. 

      

      Rating
        Agency:
        Standard & Poor's Ratings Service, a division of The McGraw Hill Companies
        Inc., and Moody's Investors Service, Inc.

      

      Reconstitution
        Agreement: Any
        agreement involving any Pass-Through Transfer or Whole Loan
        Transfer.

      

      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.

      

      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 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
        Remittance Date shall be the 23rd day of any month, or if such 23rd day is
        not a
        Business Day, the first Business Day immediately preceding such 23rd
        day.

      

      
        
          
          

        

        
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      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.

      

      Sarbanes
        Certification:
        A
        certification required pursuant to The
        Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission
        promulgated thereunder (including any interpretations or amendments thereof
        by
        the Commission’s staff).

      

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

      

      Securities
        Administrator:
        The
        securities administrator with respect to any Pass-Through Transfer.

      

      Servicer:
        EMC
        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 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
        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 H for convenience of
        reference only. In the event of a conflict or inconsistency between the terms
        of
        Exhibit H 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, the Servicer and any Person that will be
        responsible for signing any Sarbanes Certification with respect to a
        Pass-Through Transfer in response to evolving interpretations of Regulation
        AB
        and incorporated into a revised Exhibit H).

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      Servicing
        Fee:
        With
        respect to each Mortgage Loan, the amount of the annual servicing 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 the 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 from the interest portion 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 0.375%.

      

      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 and received
        or for which a Monthly Advance has been made, minus (ii) all amounts previously
        distributed to the Owner with respect to the Mortgage Loan representing
        Principal Prepayments.

      

      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.

      

      Trustee:
        The
        Person appointed as trustee in connection with any Pass-Through
        Transfer.

      

      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.
        

      

      The
        Servicer does hereby agree to service the Mortgage Loans in accordance with
        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.

      

      
        
          
          

        

        
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      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) during the time the Owner retains ownership of a Mortgage
        Loan and thereafter in accordance with applicable laws and
        regulations.

      

      
        
          
          

        

        
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      Section
        2.04.  Transfer
        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 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 within
        4
        week(s) of 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 within 4 week(s) 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 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.

      

      ARTICLE
        III

      REPRESENTATIONS
        AND WARRANTIES OF THE SERVICER

      

      The
        Servicer represents, warrants and covenants to the Owner that as of the date
        hereof or as of such date specifically provided herein:

      

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      (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 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 Servicer'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
        Servicer is an approved seller/servicer of residential mortgage loans for
        Fannie
        Mae and Freddie Mac. 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;

      

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      (g)
        As of
        the date of each Pass-Through Transfer, and except as has been otherwise
        disclosed to the Owner, the Master Servicer and any Depositor, or disclosed
        in
        any public filing: (1) no default or servicing related performance trigger
        has
        occurred as to any other Pass-Through Transfer due to any act or failure
        to act
        of the Servicer; (2) no material noncompliance with applicable servicing
        criteria as to any other Pass-Through Transfer has occurred, been disclosed
        or
        reported by the Servicer; (3) the Servicer has not been terminated as servicer
        in a residential mortgage loan Pass-Through Transfer, 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 for similar
        loans have 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 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;

      

      (h)
        If so
        requested by the Owner, the Master Servicer or any Depositor on any date,
        the
        Servicer shall, within five Business Days following such request, confirm
        in
        writing the accuracy of the representations and warranties set forth in clause
        (g) of this Article 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;

      

      (i)
        Notwithstanding anything to the contrary in the Agreement, the Servicer shall
        (or shall cause each Subservicer) (i) immediately notify the Owner, the 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 (g) of this Article (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 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 Owner and any Depositor a description of
        such
        proceedings, affiliations or relationships; 

      

      (j)
        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, the 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 Owner, the Master Servicer
        and any Depositor of such succession or appointment and (y) in writing and
        in
        form and substance reasonably satisfactory to the Owner, the Master Servicer
        and
        such Depositor, all information reasonably requested by the Owner, the 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;
        and

      

      
        
          
          

        

        
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      (k)
         Servicer
        has
        delivered to the Owner and the Master Servicer financial statements of its
        parent, for its last two complete fiscal years. All such financial information
        fairly presents the pertinent results of operations and financial position
        for
        the period identified and has been prepared in accordance with GAAP consistently
        applied throughout the periods involved, except as set forth in the notes
        thereto. There has been no change in the servicing policies and procedures,
        business, operations, financial condition, properties or assets of the Servicer
        since the date of the Servicer’s financial information that would have a
        material adverse effect on its ability to perform its obligations under this
        Agreement.

      

      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. 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.
        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 may, at its option, 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.

      

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      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 with respect
        to any
        Mortgage Loan that is not in default or if default is not reasonably forseeable,
        unless the Servicer has provided   to the  Owner  a
        certification addressed to the  Owner, based on the advice of counsel
        or certified public accountants that have a national reputation with respect
        to
        taxation of REMICs that a modification of such Mortgage Loan will not result
        in
        the imposition of taxes on or disqualify from REMIC status any
        of  the REMICs and 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), change the final maturity date
        on
        such Mortgage Loan or waive a prepayment penalty or charge. 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
        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
        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 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.

      

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      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 date hereof until the date each Mortgage Loan ceases to be subject
        to
        this Agreement, the Servicer will proceed with 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.

      

      The
        Servicer 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 Servicer, maximize recovery
        of total proceeds taking into account the value of such Prepayment Charge
        and
        the related Mortgage Loan.

      

      Section
        4.03.  Realization
        Upon Defaulted Mortgage Loans.
        

      

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      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. In
        determining the delinquency status of any Mortgage Loan, the Servicer will
        apply
        the definition of Delinquent as such term is defined under the related pooling
        and servicing agreement. 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 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
        as provided 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). Custodial Accounts will
        be
        reconciled within 45 days. 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,
        out of the Servicer's own funds, with no right to reimbursement
        therefor.

      

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      The
        Servicer shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Custodial Account or Accounts no later than 48 hours after receipt and
        identification of funds and retain therein the following payments and
        collections:

      

      (i) all
        payments on account of principal, including Principal Prepayments and penalties,
        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
        Net
        Liquidation 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 Section 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, and all Prepayment Interest Excess
        need
        not be deposited by the Servicer in the Custodial Account. 

      

      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:

      

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      (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 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) the Servicing Fee from that portion of any payment
        recovery attributable to interest on a particular Mortgage Loan;

      

      (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
        reimburse itself as provided in Section 8.03 hereof;

      

      (viii) to
        remove
        funds inadvertently placed in the Custodial Account in error by the Servicer;
        and

      

      (ix) 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.

      

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      The
        Servicer shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Escrow Account or Accounts no later than 48 hours 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. Except as provided
        in Section 4.07, the Servicer shall be entitled to retain any interest paid
        on
        funds deposited in an Escrow Account by the Qualified Depository.

      

      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.

      

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      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 when 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 an amount
        for
        which Fannie Mae no longer requires such insurance to be maintained. 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.

      

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

      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. If any one of the
        investment ratings of a Qualified Depository holding funds or Eligible
        Investments in the Custodial Account or Escrow Account is downgraded by the
        issuing rating agency, the Servicer shall, within three (3) Business Days
        of
        receipt of notice of the downgrading, transfer all such accounts, funds and
        Permitted Investments to a different Qualified Depository in accordance with
        this Agreement.

      

      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.

      

      
        
          
          

        

        
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      Section
        4.11 Maintenance
        of Mortgage Impairment Insurance Policy.

      

      In
        the
        event that the Servicer shall obtain and maintain a mortgage impairment or
        blanket policy issued by an issuer that has a Best rating of A:VI insuring
        against hazard losses on all of Mortgaged Properties securing 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, the Servicer shall conclusively be deemed
        to
        have satisfied its obligations as set forth in Section 4.10, it being understood
        and agreed that such policy may contain a deductible clause, in which case
        the
        Servicer shall, in the event that there shall not have been maintained on
        the
        related Mortgaged Property or REO Property a policy complying with Section
        4.10,
        and there shall have been one or more losses which would have been covered
        by
        such policy, deposit in the Custodial Account the amount not otherwise payable
        under the blanket policy because of such deductible clause. In connection
        with
        its activities as Servicer of the Mortgage Loans, the Servicer agrees to
        prepare
        and present, on behalf of the Owner, claims under any such blanket policy
        in a
        timely fashion in accordance with the terms of such policy. Upon request
        of the
        Owner, the Servicer shall cause to be delivered to the Owner 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 thirty (30)
        days
        prior written notice to the Owner.

      

      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 that would meet the requirements of Fannie Mae or Freddie Mac 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.

      

      
        
          
          

        

        
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      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 assume the responsibility for marketing each 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 (at the Servicer's
        expense) 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, the Servicer
        shall report monthly to the Owner as to progress being made in selling such
        REO
        Property.

      

      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 or managed 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.

      

      
        
          
          

        

        
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      The
        Servicer shall deposit or cause to be deposited, on a daily basis in each
        Custodial Account all revenues received with respect to the related REO Property
        and shall withdraw therefrom 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 hereof. The Servicer
        shall maintain separate records with respect to each REO Property identifying
        all deposits and withdrawals from the Custodial Account for each REO
        Property.

      

      The
        Servicer shall furnish to the Owner on each Remittance Date, an operating
        statement for each REO Property covering the operation of each REO Property
        for
        the previous month. Such operating statement shall be accompanied by such
        other
        information as the Owner shall reasonably request.

      

      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.

      

      Section
        4.14. 
        Notification
        of Adjustments.

      

      With
        respect to each Mortgage Loan, the Servicer shall adjust the Mortgage Interest
        Rate on the related Interest Rate Adjustment Date in compliance with
        requirements of applicable law and the related Mortgage and Mortgage Note.
        The
        Servicer 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. The Servicer shall promptly, upon
        written request therefor, deliver to the Owner 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 Servicer
        or
        the receipt of notice from the Owner that the Servicer has failed to adjust
        a
        Mortgage Interest Rate in accordance with the terms of the related Mortgage
        Note
        and Mortgage, the Servicer shall immediately deposit in the Custodial Account
        from its own funds the amount of any interest loss or deferral caused to
        the
        Owner thereby.

      

      
        
          
          

        

        
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      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 last day of the
        calendar month preceding the Determination Date, net of charges against or
        withdrawals from the Custodial Account pursuant to Section 4.05, except (a)
        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 (b) Full Principal Prepayments received after the 15th day
        of
        the month in which a Remittance Date occurs shall be remitted to the Owner
        on
        the next following Remittance Date, 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 remitted
        to
        the Owner 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. 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 and the Master Servicer.

      

      The
        Servicer shall furnish to the Owner and the Master Serivcer an individual
        Mortgage Loan accounting report (a ”Report”), as of the last Business Day of
        each month and the end of the related Prepayment Period, as applicable, 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 and the Master Servicer no later than the
        tenth
        calendar day of the month of the related Remittance Date (or, with respect
        to
        information as to Full Principal Prepayments and prepayment penalties no
        later
        than one (1) Business Day after the end of each Prepayment Period), a report
        in
        an Excel (or compatible) electronic format, in such format as may be mutually
        agreed upon by both the Owner and the Servicer, and which shall provide the
        information required to be contained in the monthly statements to
        certificateholders as specified in the related pooling and servicing Agreement,
        to the extent applicable to the Servicer. 

      

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      In
        addition, the Servicer shall provide to the Master Servicer and 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
        Regulation AB, as amended from time to time, as determined by the Owner in
        its
        sole discretion. 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 the Master Servicer, Exhibit F with respect to defaulted
        mortgage loans and Exhibit K, 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 or the Master Servicer pursuant to any applicable law with respect
        to the
        Mortgage Loans and the transactions contemplated hereby. In addition, the
        Servicer shall provide the Owner and the Master Servicer with such information
        concerning the Mortgage Loans as is necessary for the Owner and
        the
        Master Servicer
        to
        prepare its federal income tax return as Owner and the Master Servicer 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 and the Master Servicer
        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 the Amount Held for Future Distribution (as defined
        below) then on deposit in the Custodial Account. 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 Principal
        Prepayments received or made in the month of such Remittance Date, and (ii)
        payments which represent early receipt of scheduled payments of principal
        and
        interest due on a date or dates subsequent to the related Due Date.

      

      
        
          
          

        

        
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      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, 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.

      

      
        
          
          

        

        
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      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. 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 one Business Day 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, 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.

      

      
        
          
          

        

        
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      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; Annual Certification.

      

      (a) The
        Servicer will deliver to the Owner and the Master Servicer, 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 the Servicer during the preceding calendar
        year and of 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, 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. Copies of such statement shall be provided by the
        Servicer to the Owner upon request and by the Owner to any Person identified
        as
        a prospective purchaser of the Mortgage Loans. In the event that the Servicer
        has delegated any servicing responsibilities with respect to the Mortgage
        Loans
        to a Subservicer, the Servicer shall deliver an Annual Statement of Compliance
        of the Subservicer as described above as to each Subservicer as and when
        required with respect to the Servicer.

      

      (b) With
        respect to the Mortgage Loans, by March 15th of each calendar year beginning
        in
        2007, an officer of the Servicer shall execute and deliver an Officer’s
        Certificate (an “Annual Certification”) to the Owner, the Master Servicer, the
        Securities Administrator, 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 G. In the event that the Servicer has delegated any servicing
        responsibilities with respect to the Mortgage Loans to a Subservicer or a
        Subcontractor, to the extent such Subcontractor is “participating in the
        servicing function” pursuant to Item 1122 of Regulation AB, the Servicer shall
        deliver an Annual Certification as to each such Subservicer and Subcontractor,
        as and when required with respect to the Servicer.

      

      
        
          
          

        

        
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      The
        Servicer shall indemnify and hold harmless the Master Servicer 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 Section 6.04 or Section 6.09 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 Master Servicer, then the Servicer agrees that it shall contribute
        to the amount paid or payable by the Master Servicer as a result of the losses,
        claims, damages or liabilities of the Master Servicer in such proportion
        as is
        appropriate to reflect the relative fault of the Master Servicer on the one
        hand
        and the Servicer on the other in connection with a breach of the Servicer’s
        obligations under this Section 6.04 or Section 6.09 or the Servicer’s
        negligence, bad faith or willful misconduct in connection
        therewith.

      

      Upon
        request by the Owner or the Master Servicer, the Servicer will deliver to
        such
        requesting party a copy of the audited (if such financial statements are
        available, otherwise unaudited) financial statements of the Servicer for
        the
        most recent fiscal year of the Servicer.

      

      Section
        6.05. [Reserved]

      

      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 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 or state government 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.

      

      
        
          
          

        

        
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      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 Servicer offers, including refinances or (ii) providing financing of
        home
        equity loans to Mortgagors at the Mortgagor's request.

      

      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 service or administer, the Mortgage Loans in
        accordance with all applicable requirements of the Servicing
        Criteria.

      

      With
        respect to the Mortgage Loans, the Servicer shall deliver to the Owner or
        its
        designee, the Master Servicer, the Securities Administrator, and any Depositor
        on or before March 15th of each calendar year beginning in 2007, a report
        (an
“Assessment of Compliance”) 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, which as of the date hereof,
        require a report by an authorized officer of the Servicer that contains the
        following:

      

      (a) A
        statement by such officer of its responsibility for assessing compliance
        with
        the Servicing Criteria applicable to the Servicer;

      

      (b) A
        statement by such officer that such officer used the Servicing Criteria to
        assess compliance with the Servicing Criteria applicable to the
        Servicer;

      

      (c) An
        assessment by such officer of the Servicer’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
        it
        performs with respect to asset-backed securities transactions taken as a
        whole
        involving the Servicer, that are backed by the same asset type as the Mortgage
        Loans;

      

      
        
          
          

        

        
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      (d) A
        statement that a registered public accounting firm has issued an attestation
        report on the Servicer’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 Servicer, which statement shall be based on the activities it performs
        with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Servicer, 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 J hereto.

      

      With
        respect to the Mortgage Loans, on or before March 15th of each calendar year
        beginning in 2007, the Servicer shall furnish to the Owner or its designee,
        the
        Master Servicer, the Securities Administrator and any Depositor a report
        (an
“Attestation Report”) by a registered public accounting firm that attests to,
        and reports on, the Assessment of Compliance made by the 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 Company Accounting Oversight Board. 

      

      The
        Servicer shall cause each Subservicer, and each Subcontractor determined
        by the
        Servicer pursuant to Section 11.15 to be “participating in the servicing
        function” within the meaning of Item 1122 of Regulation AB, to deliver to the
        Owner, the Master Servicer, the Securities Administrator and any Depositor
        an
        assessment of compliance and accountants’ attestation as and when provided in
        Section 6.09.

      

      Section
        6.10. Intent
        of the Parties; Reasonableness.

      

      The
        Owner
        and the Servicer acknowledge and agree that a purpose of clause (g) of Article
        III, 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, the
        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 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.

      

      
        
          
          

        

        
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      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 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, its successors and assigns, any agent
        of
        the Owner, and the Master Servicer, and hold each of such Persons 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 such Person 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 or other indemnified Person 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 such other Indemnified Person and with counsel reasonably
        satisfactory to the Owner and such Person) 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
        such other indemnified Person in respect of such claim but failure to so
        notify
        the Owner and such other indemnified Person 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 and such other indemnified Person
        unless such settlement includes an unconditional release of the Owner and
        such
        other indemnified Person from all liability that is the subject matter of
        such
        claim. The provisions of this Section 8.01 shall survive termination of this
        Agreement.

      

      
        
          
          

        

        
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      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, 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 gross 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 Custodial Account
        pursuant to Section 4.05.

      

      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.

      

      
        
          
          

        

        
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      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 $25,000,000
        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 one (1)
        Business Day 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 (other than those described in clause (ix) hereof),
        the
        breach of which has a material adverse effect and which continue unremedied
        for
        a period of thirty 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

      

      
        
          
          

        

        
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      (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 date hereof) 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;
        or

      

      (viii) the
        Servicer ceases to be qualified to transact business in any jurisdiction
        where
        it is currently so qualified, but only to the extent such non-qualification
        materially and adversely affects the Servicer's ability to perform its
        obligations hereunder; or

      

      (ix) failure
        by the Servicer to duly perform, within the required time period, its
        obligations under Section 6.04, 6.09 or any of clauses (v) through (viii)
        of
        Section 10.02;

      

      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 (and if the Servicer is servicing
        any of
        the Mortgage Loans in a Pass-Through Transfer, appoint a successor servicer
        reasonably acceptable to the Master Servicer for such Pass-Through Transfer)
        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.

      

      
        
          
          

        

        
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      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, if the
        termination and/or transfer of servicing is for cause related to a servicer
        default. 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.

      

      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. 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:

      

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

      (a) one
        or
        more third party purchasers in one or more in whole loan transfers (each,
        a
        "Whole Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more Pass-Through
        Transfers.

      

      The
        Servicer agrees to execute in connection with any agreements among the Owner,
        the Servicer, and any servicer in connection with a Whole Loan Transfer,
        an
        assignment, assumption and recognition agreement, or, at Owner’s request, a
        seller's warranties and servicing agreement or a participation and servicing
        agreement or similar agreement in form and substance reasonably acceptable
        to
        the parties, and in connection with a Pass-Through Transfer, a pooling and
        servicing agreement in form and substance reasonably acceptable to the parties.
        It is understood that any such Reconstitution Agreements will not contain
        any
        greater obligations on the part of Servicer than are contained in this
        Agreement. 

      

      With
        respect to each Whole Loan Transfer and each Pass-Through Transfer entered
        into
        by the Owner, the Servicer agrees (1) to cooperate fully with the Owner and
        any
        prospective purchaser with respect to all reasonable requests and due diligence
        procedures; (2) to execute, deliver and perform all Reconstitution Agreements
        required by the Owner; (3) to restate the representations and warranties
        set
        forth in this Agreement as of the settlement or closing date in connection
        with
        such Reconstitution (each, a "Reconstitution Date"). 

      

      In
        addition, the Servicer shall provide to such servicer or issuer, as the case
        may
        be, and any other participants in such Reconstitution: 

      

      (i) any
        and
        all information and appropriate verification of information which may be
        reasonably available to the Servicer, whether through letters of its auditors
        and counsel or otherwise, as the Owner or any such other participant shall
        request upon reasonable demand; 

      

      (ii) such
        additional representations, warranties, covenants, opinions of counsel, letters
        from auditors, and certificates of public officials or officers of the Servicer
        as are reasonably agreed upon by the Servicer and the Owner or any such other
        participant;

      

      (iii) within
        5
        Business Days after request by the Owner, the information with respect to
        the
        Servicer (as servicer) as required by Item 1108(b) and (c) of Regulation
        AB, a
        summary of the requirements of which as of the date hereof is attached hereto
        as
        Exhibit I for convenience of reference only, as determined by Owner in its
        sole
        discretion. In the event that the Servicer has delegated any servicing
        responsibilities with respect to the Mortgage Loans to a Subservicer, the
        Servicer shall provide the information required pursuant to this clause with
        respect to the Subservicer;

      

      (iv) within
        5
        Business Days after request by the Owner, 

      

      
        
          
          

        

        
          42

          
            

          

        

        
          
          

        

      

      (a)
        information regarding any legal proceedings pending (or known to be
        contemplated) against the Servicer (as servicer) and each Subservicer as
        required by Item 1117 of Regulation AB, a summary of the requirements of
        which
        as of the date hereof is attached hereto as Exhibit I for convenience of
        reference only, as determined by Owner in its sole discretion,

      

      (b)
        information regarding affiliations with respect to the Servicer (as servicer)
        and each Subservicer as required by Item 1119(a) of Regulation AB, a summary
        of
        the requirements of which as of the date hereof is attached hereto as Exhibit
        I
        for convenience of reference only, as determined by Owner in its sole
        discretion, and

      

      

      (c)
        information regarding relationships and transactions with respect to the
        Servicer (as servicer) and each Subservicer as required by Item 1119(b) and
        (c)
        of Regulation AB, a summary of the requirements of which as of the date hereof
        is attached hereto as Exhibit I for convenience of reference only, as determined
        by Owner in its sole discretion;

      

      (v) for
        the
        purpose of satisfying the 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) provide prompt notice to the Owner, the Master
        Servicer and any Depositor in writing of (A) any material litigation or
        governmental proceedings involving 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 (D) of paragraph (a) of this Section (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; 

      

      (vi) 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, the 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 Owner and any Depositor
        of
        such succession or appointment and (y) in writing and in form and substance
        reasonably satisfactory to the Owner and such Depositor, all information
        reasonably requested by the Owner 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; 

      

      (vii) in
        addition to such information as the Servicer, 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 Pass-Through Transfer that includes any of the Mortgage Loans
        serviced by the Servicer or any Subservicer, the Servicer or such Subservicer,
        as applicable, shall, to the extent the Servicer 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):

      

      
        
          
          

        

        
          43

          
            

          

        

        
          
          

        

      

      (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

      

      (viii) the
        Servicer shall provide to the Owner, the 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 Servicer or any Subservicer or the Servicer or
        such
        Subservicer’s performance hereunder.

      

      In
        the
        event of a conflict or inconsistency between the terms of Exhibit I and the
        text
        of the applicable Item of Regulation AB as cited above, the text of Regulation
        AB, its adopting release and other public statements of the SEC shall
        control.

      

      The
        Servicer shall indemnify the Owner, each affiliate of the Owner, and each
        of the
        following parties participating in a Pass-Through Transfer: each issuing
        entity;
        each Person (including, but not limited to, the 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”), 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 this Section 10.02 by or on behalf of the Servicer,
        or
        provided under this Section 10.02, Sections 6.04 and 6.09 and by or on behalf
        of
        any Subservicer or Subcontractor (collectively, the “Servicer Information”), or
        (B) the omission or alleged omission to state in the Servicer Information
        a
        material fact required to be stated in the Servicer 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
        Servicer Information and not to any other information communicated in connection
        with a sale or purchase of securities, without regard to whether the Servicer
        Information or any portion thereof is presented together with or separately
        from
        such other information;

      

      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

      (ii)
        any
        breach by the Servicer of its obligations under this Section 10.02, including
        particularly any failure by the Servicer, any Subservicer or any Subcontractor
        to deliver any information, report, certification, accountants’ letter or other
        material when and as required under this Section 10.02, including any failure
        by
        the Servicer to identify pursuant to Section 11.15 any Subcontractor
“participating in the servicing function” within the meaning of Item 1122 of
        Regulation AB; 

      

      (iii)
        any
        breach by the Servicer of a representation or warranty set forth in Section
        Article III or in a writing furnished pursuant to clause (h) of Article III
        and
        made as of a date prior to the closing date of the related Pass-Through
        Transfer, to the extent that such breach is not cured by such closing date,
        or
        any breach by the Servicer of a representation or warranty in a writing
        furnished pursuant to clause (h) of Article III to the extent made as of
        a date
        subsequent to such closing date; or

      

      (iv)
        the
        negligence bad faith or willful misconduct of the Servicer in connection
        with
        its performance under this Section 10.02.

      

      If
        the
        indemnification provided for herein is unavailable or insufficient to hold
        harmless 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 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, for all costs reasonably
        incurred by each such party in order to obtain the information, report,
        certification, accountants’ letter or other material not delivered pursuant to
        this Section or Section 6.04 or Section 6.09 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.

      

      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.

      

      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

      Section
        10.03.  Master
        Servicer.
        

      

      The
        Servicer, including any successor servicer hereunder, shall be subject to
        the
        supervision of the Master Servicer, which Master Servicer shall be obligated
        to
        ensure that the Servicer services the Mortgage Loans in accordance with the
        provisions of this Agreement. The Master Servicer, acting on behalf of the
        Owner, shall have the same rights as the Owner to enforce the obligations
        of the
        Servicer under this Agreement. The Master Servicer shall be entitled to
        terminate the rights and obligations of the Servicer under this Agreement
        upon
        the failure of the Servicer to perform any of its obligations under this
        Agreement if such failure constitutes an Event of Default as provided in
        Article
        IX of this Agreement. Notwithstanding anything to the contrary, in no event
        shall the Master Servicer assume any of the obligations of the Owner under
        this
        Agreement.

      

      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.

      

      
        
          
          

        

        
          46

          
            

          

        

        
          
          

        

      

      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 Monthly
        Advances and 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.

      

      All
        reasonable costs and expenses incurred in connection with replacing the Servicer
        upon its resignation or the termination of the Servicer in accordance with
        the
        terms of this 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
        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 service to service the
        Mortgage Loans in accordance with this Agreement, shall be payable on demand
        by
        the resigning or terminated Servicer without any right of reimbursement
        therefor.

      

      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 Servicer 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.

      

      
        
          
          

        

        
          47

          
            

          

        

        
          
          

        

      

      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:

              

      

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

      Telecopier
        No.: (469) 759-4714

      

      
        	
              	(ii)	
                if
                  to the Owner:

              

      

      

      Bear,
        Stearns & Co. Inc.

      383
        Madison Ave.

      New
        York,
        New York 10179

      Attention:
        Global Credit Administration

      Telecopier
        No.: (212) 272-3751 

      

      

      
        	
              	(iii)	
                if
                  to the Master Servicer:

              

      

      

      Wells
        Fargo Bank, National Association

      P.O.
        Box
        98

      Columbia,
        Maryland 21046

      Attention:
        Master Servicing - Bear Stearns

       

      And
        for
        overnight delivery to:

      

      Wells
        Fargo Bank, National Association

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Master Servicing - Bear Stearns

      Telecopier
        No.: (410) 715-2380

      

      
        
          
          

        

        
          48

          
            

          

        

        
          
          

        

      

      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;

      

      
        
          
          

        

        
          49

          
            

          

        

        
          
          

        

      

      (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.  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
        11.12.  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.

      

      
        
          
          

        

        
          50

          
            

          

        

        
          
          

        

      

      Section
        11.13.  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 8.05, this Agreement shall inure
        to
        the benefit of and be binding upon the Servicer and the Owner and their
        respective successors and assigns.

      

      Section
        11.14.  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.

      

      Section
        11.15.  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 servicers 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. The Servicer must notify the Owner, the Master
        Servicer and any Depositor in writing of any affiliations or relationships
        that
        develop following the closing date between the Servicer or any Subservicer.
        

      

      (b) 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 clauses (g) and (j) of Article III, Sections
        6.04, 6.09 and 10.02 of this Agreement to the same extent as if such Subservicer
        were the Owner, and to provide the information required with respect to such
        Subservicer under Section 3.01(i) of this Agreement. The Servicer shall be
        responsible for obtaining from each Subservicer and delivering to the Owner,
        the
        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, any Annual Certification required under Section 6.04(b),
        any
        Additional Form 10-D Disclosure and any Form 8-K Disclosure Information,
        as and
        when required to be delivered.

      

      (c) The
        Servicer shall promptly upon request provide to the Owner, the 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, the
        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.

      

      
        
          
          

        

        
          51

          
            

          

        

        
          
          

        

      

      (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 6.07 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
        other
        certificates required to be delivered by such Subservicer and such Subcontractor
        under Section 6.09 (and any Annual Certification required under Section
        6.09(b)), in each case as and when required to be delivered.

      

      11.16. 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.

      

      

      
        
          
          

        

        
          52

          
            

          

        

        
          
          

        

      

      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.

       

      

      
        	 	 	 
	 	EMC MORTGAGE CORPORATION
	 	Servicer
	 	 
	 	 
	 	By: 
	 	 
	 	Name: 
	 	Title: 
	 	 
	 	 
	 	STRUCTURED ASSET MORTGAGE INVESTMENTS
                II
                INC.
	 	Owner
	 
 	 
 	 
 
	 	       	By:                                                                           
                
	 	 	 
	 	 	Name: 
	 	 	 
	 	Title:
	 	 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

      

      MORTGAGE
        LOAN SCHEDULE

      

       

       

      
 

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      CUSTODIAL
        ACCOUNT LETTER AGREEMENT

      (date)

      

      

      To:______________________

      _________________________

      _________________________

      (the
        "Depository")

      

      As
        "Servicer" under the Servicing Agreement, dated as of September 1, 2006,
        (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:_________________

      

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C

      

      ESCROW
        ACCOUNT LETTER AGREEMENT

      

      (date)

      

      To:___________________________

      ______________________________

      ______________________________

      (the
        "Depository")

      

      

      As
        "Servicer" under the Servicing Agreement, dated as of September 1, 2006 (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:_________________

      

      

      
        
          
          

        

        
          C-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        D

      

      REQUEST
        FOR RELEASE OF DOCUMENTS

      

      
        	
              	To:	
                Wells
                  Fargo Bank, National Association

              

      

      

      1015
        10th
        Avenue S.E.

      

      Mpls.,
        MN
        55414

      

      Attn:
        ________________

      

      

      
        	 	
                Re:

              	
                Custodial
                  Agreement dated as of November 30, 1999, between EMC Mortgage Corporation
                  and Wells Fargo Bank, National Association, as
                  Custodian

              

      

      

      In
        connection with the administration of the Mortgage Loans held by you as
        Custodian for the Owner pursuant to the above-captioned Custody Agreement,
        we
        request the release, and hereby acknowledge receipt, of the Custodian's 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

      

      _______  2. Foreclosure

      

      _______  3.
         Substitution

      

      _______  4. Other
        Liquidation (Repurchases, etc.)

      

      _______  5. Nonliquidation
        [Reason:_______________________________]

      

      Address
        to which Custodian should

      

      Deliver
        the Custodian's Mortgage File: 

      __________________________________________

      

      __________________________________________

      

      __________________________________________

      

      
        
          
          

        

        
          D-1

          
            

          

        

        
          
          

        

      

      

      

      By:_______________________________________

      (authorized
        signer)

      

      Issuer:_____________________________________

      

      Address:___________________________________

      ___________________________________

      

      Date:______________________________________

      

      

      

      Custodian

      

      Wells
        Fargo Bank, National Association

      

       

      Please
        acknowledge the execution of the above request by your signature and date
        below:

      

      

      
        	____________________________________
                	_________________
	Signature	Date

      

        

       

      Documents
        returned to Custodian:

      
        

        
          	____________________________________
                  	_________________
	Custodian	Date

        

          

      

       

      
        
          
          

        

        
          D-2

          
            

          

        

        
          
          

        

      

      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

              

      

       

      
        
          
          

        

        
          E-1

          
            

          

        

        
          
          

        

      

       

      
        	
                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

              

      

      

      
        
          
          

        

        
          E-2

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        F

      

      REPORTING
        DATA FOR DEFAULTED LOANS

      

      Standard
        File Layout - Delinquency Reporting

      

      
        	 	
                 

                (a) Column/Header
                  Name

              	 	 	
                 

                (b) Description

              	 	
                 

                (c) Decimal

              	
                 

                (d) Format
                  Comment

              
	
                 

              	
                 

              	 	
                 

              	
                 

              	 	
                 

              	
                 

              	
                 

              	
                 

              
	
                (e)

              	
                SERVICER_LOAN_NBR

              	 	
                (f)

              	
                A
                  unique number assigned to a loan by the Servicer. This may be different
                  than the LOAN_NBR

              	 	
                (g) 

              	
                 

              	
                (h)  

              	
                 

              
	
                 

              	
                 

              	 	
                 

              	
                 

              	 	
                 

              	
                 

              	
                 

              	
                 

              
	
                (i)

              	
                LOAN_NBR

              	 	(j)	
                A
                  unique identifier assigned to each loan by the originator.

              	 	
                (k) 

              	 	
                (l)  

              	 
	 	 	 	 	 	 	 	 	 	 
	(m)	
                CLIENT_NBR

              	 	(n)	
                Servicer
                  Client Number

              	 	
                (o) 

              	 	
                (p) 

              	 
	 	 	 	 	 	 	 	 	 	 
	(q)	
                SERV_INVESTOR_NBR

              	 	(r)	
                Contains
                  a unique number as assigned by an external servicer to identify
                  a group of
                  loans in their system.

              	 	
                (s) 

              	 	
                (t)  

              	 
	 	 	 	 	 	 	 	 	 	 
	(u)	
                BORROWER_FIRST_NAME

              	 	(v)	
                First
                  Name of the Borrower.

              	 	
                (w) 

              	 	
                (x) 

              	 
	 	 	 	 	 	 	 	 	
                 

              	 
	(y) 	
                BORROWER_LAST_NAME

              	 	(z)	
                Last
                  name of the borrower.

              	 	
                (aa) 

              	 	
                (bb) 

              	 
	 	 	 	 	 	 	 	 	 	 
	(cc)	
                PROP_ADDRESS

              	 	(dd)	
                Street
                  Name and Number of Property

              	 	
                (ee) 

              	 	
                (ff)  

              	 
	 	 	 	 	 	 	
                 

              	 	 	 
	(gg)	
                PROP_STATE

              	 	(hh)	
                The
                  state where the property located.

              	 	
                (ii) 

              	 	
                (jj)  

              	 
	 	 	 	 	 	 	
                 

              	 	 	 
	(kk)	
                PROP_ZIP

              	 	(ll)	
                Zip
                  code where the property is located.

              	 	
                (mm) 

              	 	
                (nn)  

              	 
	 	 	 	 	 	 	
                 

              	 	 	 
	(oo)	
                BORR_NEXT_PAY_DUE_DATE

              	 	(pp)	
                The
                  date that the borrower's next payment is due to the servicer at
                  the end of
                  processing cycle, as reported by Servicer.

              	 	
                (qq) 

              	 	
                (rr) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	 	 
	(ss)	
                LOAN_TYPE

              	 	(tt)	
                Loan
                  Type (i.e. FHA, VA, Conv)

              	 	
                (uu) 

              	 	
                (vv)  

              	 

      

       

       

      
        
          
          

        

        
          F-1

          
            

          

        

        
          
          

        

      

       

       

      
        	 	 	 	 	 	 	
                 

              	 	 	 
	(ww) 	
                BANKRUPTCY_FILED_DATE

              	 	(xx)	
                The
                  date a particular bankruptcy claim was filed.

              	 	
                (yy) 

              	 	
                (zz) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	 	 
	(aaa)	
                BANKRUPTCY_CHAPTER_CODE

              	 	(bbb)	
                The
                  chapter under which the bankruptcy was filed.

              	 	
                (ccc) 

              	 	
                (ddd)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(eee)	
                BANKRUPTCY_CASE_NBR

              	 	(fff)	
                The
                  case number assigned by the court to the bankruptcy
                  filing.

              	 	
                (ggg) 

              	 	
                (hhh)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	 (iii)	
                POST_PETITION_DUE_DATE

              	 	(jjj) 	
                The
                  payment due date once the bankruptcy has been approved by the
                  courts

              	 	
                (kkk) 

              	 	
                (lll) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	 	 
	(mmm)	
                BANKRUPTCY_DCHRG_DISM_DATE

              	 	(nnn)	
                The
                  Date The Loan Is Removed From Bankruptcy. Either by Dismissal,
                  Discharged
                  and/or a Motion For Relief Was Granted. 

              	 	
                (ooo) 

              	 	
                (ppp) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	 	 
	(qqq) 	
                LOSS_MIT_APPR_DATE

              	 	(rrr)	
                The
                  Date The Loss Mitigation Was Approved By The Servicer

              	 	
                (sss) 

              	 	
                (ttt) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(uuu)	
                LOSS_MIT_TYPE

              	 	(vvv)	
                The
                  Type Of Loss Mitigation Approved For A Loan Such As;

              	 	
                (www) 

              	 	
                (xxx) 

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(yyy)	
                LOSS_MIT_EST_COMP_DATE

              	 	(zzz)	
                The
                  Date The Loss Mitigation /Plan Is Scheduled To End/Close

              	 	
                (aaaa) 

              	 	
                (bbbb) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(cccc) 	
                LOSS_MIT_ACT_COMP_DATE

              	 	(dddd)	
                The
                  Date The Loss Mitigation Is Actually Completed

              	 	
                (eeee) 

              	 	
                (ffff) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(gggg)	
                FRCLSR_APPROVED_DATE

              	 	(hhhh)	
                The
                  date DA Admin sends a letter to the servicer with instructions
                  to begin
                  foreclosure proceedings.

              	 	
                (iiii) 

              	 	
                (jjjj) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(kkkk)	
                ATTORNEY_REFERRAL_DATE

              	 	(llll)	
                Date
                  File Was Referred To Attorney to Pursue Foreclosure

              	 	
                (mmmm) 

              	 	
                (nnnn) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(oooo)	
                FIRST_LEGAL_DATE

              	 	(pppp)	
                Notice
                  of 1st legal filed by an Attorney in a Foreclosure Action

              	 	
                (qqqq) 

              	 	
                (rrrr) 

              	MM/DD/YYYY

      

       

      
        
          
          

        

        
          F-2

          
            

          

        

        
          
          

        

      

       

       

      
        	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(ssss)	
                FRCLSR_SALE_EXPECTED_DATE

              	 	(tttt)	
                The
                  date by which a foreclosure sale is expected to occur.

              	 	
                (uuuu) 

              	 	
                (vvvv) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(wwww)	
                FRCLSR_SALE_DATE

              	 	(xxxx)	
                The
                  actual date of the foreclosure sale.

              	 	
                (yyyy) 

              	 	
                (zzzz) 

              	MM/DD/YYYY
	 	 	 	 	 	 	 	 	
                 

              	 
	(aaaaa) 	
                FRCLSR_SALE_AMT

              	 	(bbbbb) 	
                The
                  amount a property sold for at the foreclosure sale.

              	 	
                (ccccc) 

              	2	
                (ddddd) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(eeeee)	
                EVICTION_START_DATE

              	 	(fffff)	
                The
                  date the servicer initiates eviction of the borrower.

              	 	
                (ggggg) 

              	 	
                (hhhhh) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(iiiii) 	
                EVICTION_COMPLETED_DATE

              	 	(jjjjj)	
                The
                  date the court revokes legal possession of the property from the
                  borrower.

              	 	
                (kkkkk) 

              	 	
                (lllll) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(mmmmm)	
                LIST_PRICE

              	 	(nnnnn)	
                The
                  price at which an REO property is marketed.

              	 	
                (ooooo) 

              	2	
                (ppppp) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	 	 
	(qqqqq)	
                LIST_DATE

              	 	 (rrrrr)	
                The
                  date an REO property is listed at a particular price.

              	 	
                (sssss) 

              	 	
                (ttttt) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(uuuuu)	
                OFFER_AMT

              	 	(vvvvv)	
                The
                  dollar value of an offer for an REO property.

              	 	
                (wwwww) 

              	2	
                (xxxxx) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(yyyyy)	
                OFFER_DATE_TIME

              	 	(zzzzz)	
                The
                  date an offer is received by DA Admin or by the Servicer.

              	 	
                (aaaaaa) 

              	 	
                (bbbbbb) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(cccccc)	
                REO_CLOSING_DATE

              	 	(dddddd)	
                The
                  date the REO sale of the property is scheduled to close.

              	 	
                (eeeeee) 

              	 	
                (ffffff) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(gggggg)	
                REO_ACTUAL_CLOSING_DATE

              	 	(hhhhhh)	
                Actual
                  Date Of REO Sale

              	 	
                (iiiiii) 

              	 	
                (jjjjjj) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(kkkkkk)	
                OCCUPANT_CODE

              	 	 (llllll)	
                Classification
                  of how the property is occupied.

              	 	
                (mmmmmm) 

              	 	
                (nnnnnn)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(oooooo)	
                PROP_CONDITION_CODE

              	 	(pppppp)	
                A
                  code that indicates the condition of the property.

              	 	
                (qqqqqq) 

              	 	
                (rrrrrr)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(ssssss)	
                PROP_INSPECTION_DATE

              	 	(tttttt)	
                The
                  date a property inspection is performed.

              	 	
                (uuuuuu) 

              	 	
                (vvvvvv) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 

      

       

       

      
        
          
          

        

        
          F-3

          
            

          

        

        
          
          

        

      

       

      
        	(wwwwww)	
                APPRAISAL_DATE

              	 	(xxxxxx)	
                The
                  date the appraisal was done.

              	 	
                (yyyyyy) 

              	 	
                (zzzzzz) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(aaaaaaa)	
                CURR_PROP_VAL

              	 	(bbbbbbb)	
                The
                  current "as is" value of the property based on brokers price opinion
                  or
                  appraisal.

              	 	
                (ccccccc) 

              	2	
                (ddddddd)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(eeeeeee)	
                REPAIRED_PROP_VAL

              	 	(fffffff)	
                The
                  amount the property would be worth if repairs are completed pursuant
                  to a
                  broker's price opinion or appraisal.

              	 	
                (ggggggg) 

              	2	
                (hhhhhhh)  

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(iiiiiii) 	
                If
                  applicable:

              	 	(jjjjjjj) 	
                 

              	 	
                (kkkkkkk) 

              	 	
                (lllllll)  

              	 
	 	 	 	 	 	 	
                 

              	 	 	 
	(mmmmmmm)	
                DELINQ_STATUS_CODE

              	 	(nnnnnnn)	
                FNMA
                  Code Describing Status of Loan

              	 	
                (ooooooo) 

              	 	
                (ppppppp) 

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(qqqqqqq)	
                DELINQ_REASON_CODE

              	 	(rrrrrrr)	
                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.

              	 	
                (sssssss) 

              	 	
                (ttttttt) 

              	 
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(uuuuuuu)	
                MI_CLAIM_FILED_DATE

              	 	(vvvvvvv)	
                Date
                  Mortgage Insurance Claim Was Filed With Mortgage Insurance
                  Company.

              	 	
                (wwwwwww) 

              	 	
                (xxxxxxx) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(yyyyyyy)	
                MI_CLAIM_AMT

              	 	(zzzzzzz)	
                Amount
                  of Mortgage Insurance Claim Filed

              	 	
                (aaaaaaaa) 

              	 	
                (bbbbbbbb) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(cccccccc)	
                MI_CLAIM_PAID_DATE

              	 	(dddddddd)	
                Date
                  Mortgage Insurance Company Disbursed Claim Payment

              	 	
                (eeeeeeee) 

              	 	
                (ffffffff) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(gggggggg)	
                MI_CLAIM_AMT_PAID

              	 	(hhhhhhhh)	
                Amount
                  Mortgage Insurance Company Paid On Claim

              	 	
                (iiiiiiii) 

              	2	
                (jjjjjjjj) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(kkkkkkkk) 	
                POOL_CLAIM_FILED_DATE

              	 	(llllllll)	
                Date
                  Claim Was Filed With Pool Insurance Company

              	 	
                (mmmmmmmm) 

              	 	
                (nnnnnnnn) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 

      

       

       

      
        
          
          

        

        
          F-4

          
            

          

        

        
          
          

        

      

       

       

      
        	(oooooooo)	
                POOL_CLAIM_AMT

              	 	(pppppppp)	
                Amount
                  of Claim Filed With Pool Insurance Company

              	 	
                (qqqqqqqq)

              	 2	
                (rrrrrrrr) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(ssssssss) 	
                POOL_CLAIM_PAID_DATE

              	 	(tttttttt)	
                Date
                  Claim Was Settled and The Check Was Issued By The Pool
                  Insurer

              	 	
                (uuuuuuuu) 

              	 	
                (vvvvvvvv) 

              	MM/DD/YYYY
	 	 	 	 	 	 	 	 	
                 

              	 
	(wwwwwwww)	
                POOL_CLAIM_AMT_PAID

              	 	(xxxxxxxx)	
                Amount
                  Paid On Claim By Pool Insurance Company

              	 	
                (yyyyyyyy) 

              	2	
                (zzzzzzzz) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(aaaaaaaaa)	
                FHA_PART_A_CLAIM_FILED_DATE

              	 	(bbbbbbbbb)	
                Date
                  FHA Part A Claim Was Filed With HUD

              	 	
                (ccccccccc) 

              	 	
                (ddddddddd) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(eeeeeeeee)	
                FHA_PART_A_CLAIM_AMT

              	 	(fffffffff)	
                Amount
                  of FHA Part A Claim Filed

              	 	
                (ggggggggg) 

              	2	
                (hhhhhhhhh) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(iiiiiiiii) 	
                FHA_PART_A_CLAIM_PAID_DATE

              	 	(jjjjjjjjj)	
                Date
                  HUD Disbursed Part A Claim Payment

              	 	
                (kkkkkkkkk) 

              	 	
                (lllllllll) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(mmmmmmmmm)	
                FHA_PART_A_CLAIM_PAID_AMT

              	 	(nnnnnnnnn)	
                Amount
                  HUD Paid on Part A Claim

              	 	
                (ooooooooo) 

              	2	
                (ppppppppp) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(qqqqqqqqq)	
                FHA_PART_B_CLAIM_FILED_DATE

              	 	(rrrrrrrrr)	
                Date
                  FHA Part B Claim Was Filed With HUD

              	 	
                (sssssssss) 

              	 	
                (ttttttttt) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(uuuuuuuuu)	
                FHA_PART_B_CLAIM_AMT

              	 	(vvvvvvvvv) 	
                Amount
                  of FHA Part B Claim Filed

              	 	
                (wwwwwwwww) 

              	2	
                (xxxxxxxxx) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(yyyyyyyyy)	
                FHA_PART_B_CLAIM_PAID_DATE

              	 	(zzzzzzzzz)	
                Date
                  HUD Disbursed Part B Claim Payment

              	 	
                (aaaaaaaaaa) 

              	 	
                (bbbbbbbbbb) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(cccccccccc)	
                FHA_PART_B_CLAIM_PAID_AMT

              	 	(dddddddddd)	
                Amount
                  HUD Paid on Part B Claim

              	 	
                (eeeeeeeeee) 

              	2	
                (ffffffffff) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	 (gggggggggg)	
                VA_CLAIM_FILED_DATE

              	 	(hhhhhhhhhh) 	
                Date
                  VA Claim Was Filed With the Veterans Admin

              	 	
                (iiiiiiiiii) 

              	 	
                (jjjjjjjjjj) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	
                 

              	 
	(kkkkkkkkkk)	
                VA_CLAIM_PAID_DATE

              	 	(llllllllll) 	
                Date
                  Veterans Admin. Disbursed VA Claim Payment

              	 	
                (mmmmmmmmmm) 

              	 	
                (nnnnnnnnnn) 

              	MM/DD/YYYY
	 	 	 	 	 	 	
                 

              	 	 	 
	(oooooooooo)	
                VA_CLAIM_PAID_AMT

              	 	(pppppppppp)	
                Amount
                  Veterans Admin. Paid on VA Claim

              	 	
                (qqqqqqqqqq) 

              	2	
                (rrrrrrrrrr) 

              	No
                commas(,) or dollar signs ($)
	 	 	 	 	 	 	
                 

              	 	 	 

      

       

      
        
          
          

        

        
          F-5

          
            

          

        

        
          
          

        

      

      

      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: 

       

      
        
          
          

        

        
          F-6

          
            

          

        

        
          
          

        

      

      
 

      
        	
                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

              

      

      

       

      
        
          
          

        

        
          F-7

          
            

          

        

        
          
          

        

         

      

      EXHIBIT
        G

      

      FORM
        OF
        SERVICER 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.

      

      
        
          
          

        

        
          G-1

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        H

      

      SUMMARY
        OF REGULATION AB

      SERVICING
        CRITERIA

      

      NOTE:
        This Exhibit H is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit H and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

      

      Item
        1122(d)

      

      
        	 	
                (b)

              	
                General
                  servicing considerations.

              

      

      

      (1) Policies
        and procedures are instituted to monitor any performance or other triggers
        and
        events of default in accordance with the transaction agreements.

      

      (2) 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.

      

      (3) Any
        requirements in the transaction agreements to maintain a back-up servicer
        for
        the mortgage loans are maintained.

      

      (4) 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.

      

      
        	 	
                (c)

              	
                Cash
                  collection and administration.

              

      

      

      (1) 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.

      

      (2) Disbursements
        made via wire transfer on behalf of an obligor or
        to an
        investor are made only by authorized personnel.

      

      (3) 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.

      

      (4) 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.

      

      (5) 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.

      

      
        
          
          

        

        
          H-1

          
            

          

        

        
          
          

        

      

      (6) Unissued
        checks are safeguarded so as to prevent unauthorized access.

      

      (7) 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.

      

      
        	 	
                (d)

              	
                Investor
                  remittances and reporting.

              

      

      

      (1) 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.

      

      (2) Amounts
        due to investors are allocated and remitted in accordance with timeframes,
        distribution priority and other terms set forth in the transaction
        agreements.

      

      (3) 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.

      

      (4) Amounts
        remitted to investors per the investor reports agree with cancelled checks,
        or
        other form of payment, or custodial bank statements.

      

      
        	 	
                (e)

              	
                Mortgage
                  Loan administration.

              

      

      

      (1) Collateral
        or security on mortgage loans is maintained as required by the transaction
        agreements or related mortgage loan documents.

      

      (2) Mortgage
        loan and related documents are safeguarded as required by the transaction
        agreements.

      

      (3) 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.

      

      
        
          
          

        

        
          H-2

          
            

          

        

        
          
          

        

      

      (4) 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.

      

      (5) The
        Servicer’s records regarding the mortgage loans agree with the Servicer’s
        records with respect to an obligor’s unpaid principal balance.

      

      (6) 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 mortgage
        loan documents.

      

      (7) 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.

      

      (8) 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).

      

      (9) Adjustments
        to interest rates or rates of return for mortgage loans with variable rates
        are
        computed based on the related mortgage loan documents.

      

      (10) 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.

      

      (11) 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.

      

      (12) 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.

      

      
        
          
          

        

        
          H-3

          
            

          

        

        
          
          

        

      

      (13) 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.

      

      (14) Delinquencies,
        charge-offs and uncollectable accounts are recognized and recorded in accordance
        with the transaction agreements.

      

      (15) 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.

      

      
        
          
          

        

        
          H-4

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I

      

      SUMMARY
        OF APPLICABLE REGULATION AB REQUIREMENTS

      

      NOTE:
        This Exhibit I is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit I and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other public
        statements of the SEC shall control.

      

      Item
        1108(b) and (c)

      

      Provide
        the following information with respect to each servicer that will service,
        including interim service, 20% or more of the mortgage loans in any loan
        group
        in the securitization issued in the Pass-Through Transfer:

      

      -a
        description of the Owner’s form of organization;

      

      -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 mortgage loans of the type similar to
        the Mortgage Loans and information on factors related to the Servicer that
        may
        be material to any analysis of the servicing of the Mortgage Loans or the
        related asset-backed securities, as applicable, including whether 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, whether
        any
        material noncompliance with applicable servicing criteria as to any other
        securitization has been disclosed or reported by the Servicer, and the extent
        of
        outsourcing the Servicer uses;

      

      -a
        description of any material changes to the Servicer’s policies or procedures in
        the servicing function it will perform under this Agreement and any
        Reconstitution Agreements for mortgage loans of the type similar to the Mortgage
        Loans during the past three years;

      

      -information
        regarding the Servicer’s financial condition to the extent that there is a
        material risk that the effect on one or more aspects of servicing resulting
        from
        such financial condition could have a material impact on the performance
        of the
        securities issued in the Pass-Through Transfer, or on servicing of mortgage
        loans of the same asset type as the Mortgage Loans;

      

      -any
        special or unique factors involved in servicing loans of the same type as
        the
        Mortgage Loans, and the Servicer’s processes and procedures designed to address
        such factors;

      

      -statistical
        information regarding principal and interest advances made by the Servicer
        on
        the Mortgage Loans and the Servicer’s overall servicing portfolio for the past
        three years; and

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      -the
        Owner’s process for handling delinquencies, losses, bankruptcies and recoveries,
        such as through liquidation of REO Properties, foreclosure, sale of the Mortgage
        Loans or workouts.

      

      Item
        1117

      

      -describe
        any legal proceedings pending against the Servicer or against any of its
        property, including any proceedings known to be contemplated by governmental
        authorities, that may be material to the holders of the securities issued
        in the
        Pass-Through Transfer.

      

      Item
        1119(a)

       

      -describe
        any affiliations of the Servicer, each other originator of the Mortgage Loans
        and each Subservicer with the sponsor, depositor, issuing entity, trustee,
        any
        originator, any other servicer, any significant obligor, enhancement or support
        provider or any other material parties related to the Pass-Through
        Transfer.

      

      Item
        1119(b)

       

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        entered into outside of the ordinary course of business or on terms other
        than
        those obtained in an arm’s length transaction with an unrelated third party,
        apart from the Pass-Through Transfer, between the Servicer, each other
        originator of the Mortgage Loans and each Subservicer, or their respective
        affiliates, and the sponsor, depositor or issuing entity or their respective
        affiliates, that exists currently or has existed during the past two years,
        that
        may be material to the understanding of an investor in the securities issued
        in
        the Pass-Through Transfer.

      

      Item
        1119(c)

       

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        involving or relating to the Mortgage Loans or the Pass-Through Transfer,
        including the material terms and approximate dollar amount involved, between
        the
        Servicer, each other originator of the Mortgage Loans and each Subservicer,
        or
        their respective affiliates and the sponsor, depositor or issuing entity
        or
        their respective affiliates, that exists currently or has existed during
        the
        past two years.

      

      
        
          
          

        

        
          I-1

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        J

      

      SERVICING
        CRITERIA TO BE ADDRESSED IN ASSESSMENT OF COMPLIANCE

      

      SERVICING
        CRITERIA TO BE ADDRESSED

      IN
        ASSESSMENT OF COMPLIANCE

      (RMBS
        unless otherwise noted)

      

      Key:

      X
        -
        obligation

      

      

      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.

      

      

      

      
        	
                RegAB
                  Reference

              	
                Servicing
                  Criteria

              	
                Servicers

              

      

      

      
        	 	
                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 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

              
	 	
                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

              
	
                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 over collateralization, 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

              

      

       

       

      
        
          
          

        

        
          J-1

          
            

          

        

        
          
          

        

      

       

       

      
        	
                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 Pool Assets 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 pool assets is maintained as required by the transaction
                  agreements or related pool asset documents.

              	
                X

              
	
                1122(d)(4)(ii)

              	
                Pool
                  assets and related documents are safeguarded as required by the
                  transaction agreements

              	
                X

              
	
                1122(d)(4)(iii)

              	
                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements.

              	
                X

              
	
                1122(d)(4)(iv)

              	
                Payments
                  on pool assets, including any payoffs, made in accordance with
                  the related
                  pool asset documents are posted to the Servicer’s obligor records
                  maintained no more than two business days after receipt, or such
                  other
                  number of days specified in the transaction agreements, and allocated
                  to
                  principal, interest or other items (e.g., escrow) in accordance
                  with the
                  related pool asset documents.

              	
                X

              
	
                1122(d)(4)(v)

              	
                The
                  Servicer’s records regarding the pool assets agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	
                X

              
	
                1122(d)(4)(vi)

              	
                Changes
                  with respect to the terms or status of an obligor's pool assets
                  (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	
                X

              
	
                1122(d)(4)(vii)

              	
                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements.

              	
                X

              
	
                1122(d)(4)(viii)

              	
                Records
                  documenting collection efforts are maintained during the period
                  a pool
                  asset is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent pool assets including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	
                X

              
	
                1122(d)(4)(ix)

              	
                Adjustments
                  to interest rates or rates of return for pool assets with variable
                  rates
                  are computed based on the related pool asset documents.

              	
                X

              
	
                1122(d)(4)(x)

              	
                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s pool asset documents,
                  on at least an annual basis, or such other period specified in
                  the
                  transaction agreements; (B) interest on such funds is paid, or
                  credited,
                  to obligors in accordance with applicable pool asset documents
                  and state
                  laws; and (C) such funds are returned to the obligor within 30
                  calendar
                  days of full repayment of the related pool assets, or such other
                  number of
                  days specified in the transaction agreements.

              	
                X

              

      

       

       

      
        
          
          

        

        
          J-2

          
            

          

        

        
          
          

        

      

       

       

      
        	
                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 OWNER] [NAME OF
                SUBSERVICER]
	 	 
	 	 
	 	Date: _________________________
	 	 
	 	 
	 	By: _________________________
	 	 
	 	Name:
	 	Title: 

      

      
 

      
        
          
          

        

        
          J-3

          
            

          

        

        
          
          

        

      

       

      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 within 90 days of liquidation.
        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 periodof
        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.

      

      
        
          
          

        

        
          K-1

          
            

          

        

        
          
          

        

      

      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)

                

        

        
           

           

          
            
              
              

            

            
              K-2

              
                

              

            

            
              
              

            

          

           

        

        
          	
                  (18)

                	
                  Primary
                    Mortgage Insurance / Gov’t Insurance

                	
                  ________________

                	
                  (18a)
                    HUD Part A

                
	 	
                	
                  ________________
                    

                	(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

              
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H-3

       

      HOMEBANC
        SERVICING AGREEMENT

       

      

       

      
         

        

        

        EMC
          MORTGAGE CORPORATION 

        Purchaser,

        

        HOMEBANC
          MORTGAGE CORPORATION

        Company,

        

        PURCHASE,
          WARRANTIES AND SERVICING AGREEMENT

        Dated
          as
          of January 1, 2004

         

        

        

        (Fixed
          and Adjustable Rate Mortgage Loans)

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        TABLE
          OF CONTENTS

        

        ARTICLE
          I

        

          
            	
                    Section
                      1.01

                  	
                    Defined
                      Terms

                  	
                    2

                  
	 	 	 
	
                    ARTICLE
                      II

                  
	 	 	 
	
                    Section
                      2.01

                  	
                    Agreement
                      to Purchase

                  	
                    14

                  
	
                    Section
                      2.02

                  	
                    Purchase
                      Price

                  	
                    15

                  
	
                    Section
                      2.03

                  	
                    Servicing
                      of Mortgage Loans

                  	
                    15

                  
	
                    Section
                      2.04

                  	
                    Record
                      Title and Possession of Mortgage Files; Maintenance of Servicing
                      Files

                  	
                    15

                  
	
                    Section
                      2.05

                  	
                    Books
                      and Records

                  	
                    16

                  
	
                    Section
                      2.06

                  	
                    Transfer
                      of Mortgage Loans

                  	
                    17

                  
	
                    Section
                      2.07

                  	
                    Delivery
                      of Mortgage Loan Documents

                  	
                    17

                  
	
                    Section
                      2.08

                  	
                    Quality
                      Control Procedures

                  	
                    19

                  
	
                    Section
                      2.09

                  	
                    Near-term
                      Principal Prepayments; Near Term Payment Defaults

                  	
                    19

                  
	
                    Section
                      2.10

                  	
                    Modification
                      of Obligations.

                  	
                    19

                  
	 	 	 
	
                    ARTICLE
                      III

                  
	 	 	 
	
                    Section
                      3.01

                  	
                    Representations
                      and Warranties of the Company

                  	
                    21

                  
	
                    Section
                      3.02

                  	
                    Representations
                      and Warranties as to Individual Mortgage Loans

                  	
                    24

                  
	
                    Section
                      3.03

                  	
                    Repurchase;
                      Substitution

                  	
                    33

                  
	
                    Section
                      3.04

                  	
                    Representations
                      and Warranties of the Purchaser

                  	
                    35

                  
	 	 	 
	
                    ARTICLE
                      IV

                  
	 	 	 
	
                    Section
                      4.01

                  	
                    Company
                      to Act as Servicer

                  	
                    36

                  
	
                    Section
                      4.02

                  	
                    Collection
                      of Mortgage Loan Payments

                  	
                    39

                  
	
                    Section
                      4.03

                  	
                    Realization
                      Upon Defaulted Mortgage Loans

                  	
                    40

                  
	
                    Section
                      4.04

                  	
                    Establishment
                      of Custodial Accounts; Deposits in Custodial Accounts

                  	
                    41

                  
	
                    Section
                      4.05

                  	
                    Permitted
                      Withdrawals from the Custodial Account

                  	
                    42

                  
	
                    Section
                      4.06

                  	
                    Establishment
                      of Escrow Accounts; Deposits in Escrow Accounts

                  	
                    43

                  
	
                    Section
                      4.07

                  	
                    Permitted
                      Withdrawals From Escrow Account

                  	
                    44

                  
	
                    Section
                      4.08

                  	
                    Payment
                      of Taxes, Insurance and Other Charges; Maintenance of Primary
                      Mortgage
                      Insurance Policies; Collections Thereunder

                  	
                    45

                  

          

           

          
            
              
              

            

            
              ii

              
                

              

            

            
              
              

            

          

          
            	
                    Section
                      4.09

                  	
                    Transfer
                      of Accounts

                  	
                    46

                  
	
                    Section
                      4.10

                  	
                    Maintenance
                      of Hazard Insurance

                  	
                    46

                  
	
                    Section
                      4.11

                  	
                    Maintenance
                      of Mortgage Impairment Insurance Policy

                  	
                    47

                  
	
                    Section
                      4.12

                  	
                    Fidelity
                      Bond, Errors and Omissions Insurance

                  	
                    48

                  
	
                    Section
                      4.13

                  	
                    Title,
                      Management and Disposition of REO Property

                  	
                    48

                  
	
                    Section
                      4.14

                  	
                    Notification
                      of Maturity Date

                  	
                    50

                  
	 	 	 
	
                    ARTICLE
                      V

                  
	 	 	 
	
                    Section
                      5.01

                  	
                    Distributions

                  	
                    50

                  
	
                    Section
                      5.02

                  	
                    Statements
                      to the Purchaser

                  	
                    51

                  
	
                    Section
                      5.03

                  	
                    Monthly
                      Advances by the Company

                  	
                    53

                  
	
                    Section
                      5.04

                  	
                    Liquidation
                      Reports

                  	
                    53

                  
	 	 	 
	
                    ARTICLE
                      VI

                  
	 	 	 
	
                    Section
                      6.01

                  	
                    Assumption
                      Agreements

                  	
                    53

                  
	
                    Section
                      6.02

                  	
                    Satisfaction
                      of Mortgages and Release of Mortgage Files

                  	
                    54

                  
	
                    Section
                      6.03

                  	
                    Servicing
                      Compensation

                  	
                    55

                  
	
                    Section
                      6.04

                  	
                    Annual
                      Statement as to Compliance

                  	
                    56

                  
	
                    Section
                      6.05

                  	
                    Annual
                      Independent Certified Public Accountants’ Servicing Report

                  	
                    56

                  
	
                    Section
                      6.06

                  	
                    Purchaser’s
                      Right to Examine Company Records

                  	
                    56

                  
	
                    Section
                      6.07

                  	
                    Annual
                      Certification

                  	
                    61

                  
	 	 	 
	
                    ARTICLE
                      VII

                  
	 	 	 
	
                    Section
                      7.01

                  	
                    Company
                      Shall Provide Information as Reasonably Required

                  	
                    57

                  
	 	 	 
	
                    ARTICLE
                      VIII

                  
	 	 	 
	
                    Section
                      8.01

                  	
                    Indemnification;
                      Third Party Claims

                  	
                    58

                  
	
                    Section
                      8.02

                  	
                    Merger
                      or Consolidation of the Company

                  	
                    58

                  
	
                    Section
                      8.03

                  	
                    Limitation
                      on Liability of the Company and Others

                  	
                    59

                  
	
                    Section
                      8.04

                  	
                    Company
                      Not to Assign or Resign

                  	
                    59

                  
	
                    Section
                      8.05

                  	
                    No
                      Transfer of Servicing

                  	
                    59

                  

          

           

          
            
              
              

            

            
              iii

              
                

              

            

            
              
              

            

          

          
            	
                    ARTICLE
                      IX

                  
	 	 	 
	
                    Section
                      9.01

                  	
                    Events
                      of Default

                  	
                    61

                  
	
                    Section
                      9.02

                  	
                    Waiver
                      of Defaults

                  	
                    62

                  
	 	 	 
	
                    ARTICLE
                      X

                  
	 	 	 
	
                    Section
                      10.01

                  	
                    Termination

                  	
                    62

                  
	 	 	 
	
                    ARTICLE
                      XI

                  
	 	 	 
	
                    Section
                      11.01

                  	
                    Successor
                      to the Company

                  	
                    63

                  
	
                    Section
                      11.02

                  	
                    Amendment

                  	
                    64

                  
	
                    Section
                      11.03

                  	
                    Recordation
                      of Agreement

                  	
                    65

                  
	
                    Section
                      11.04

                  	
                    Governing
                      Law

                  	
                    65

                  
	
                    Section
                      11.05

                  	
                    Notices

                  	
                    65

                  
	
                    Section
                      11.06

                  	
                    Severability
                      of Provisions

                  	
                    66

                  
	
                    Section
                      11.07

                  	
                    Exhibits

                  	
                    66

                  
	
                    Section
                      11.08

                  	
                    General
                      Interpretive Principles

                  	
                    66

                  
	
                    Section
                      11.09

                  	
                    Reproduction
                      of Documents

                  	
                    67

                  
	
                    Section
                      11.10

                  	
                    Confidentiality
                      of Information

                  	
                    67

                  
	
                    Section
                      11.11

                  	
                    Recordation
                      of Assignment of Mortgage

                  	
                    67

                  
	
                    Section
                      11.12

                  	
                    Assignment
                      by Purchaser

                  	
                    68

                  
	
                    Section
                      11.13

                  	
                    No
                      Partnership

                  	
                    68

                  
	
                    Section
                      11.14

                  	
                    Execution:
                      Successors and Assigns

                  	
                    68

                  
	
                    Section
                      11.15

                  	
                    Entire
                      Agreement

                  	
                    68

                  
	
                    Section
                      11.16

                  	
                    No
                      Solicitation

                  	
                    68

                  
	
                    Section
                      11.17

                  	
                    Closing

                  	
                    69

                  
	
                    Section
                      11.18

                  	
                    Cooperation
                      of Company with Reconstitution

                  	
                    70

                  

          

        

         

        EXHIBITS

         

        
          	
                  A

                	
                  Contents
                    of Mortgage File

                
	
                  B

                	
                  Custodial
                    Account Letter Agreement

                
	
                  C

                	
                  Escrow
                    Account Letter Agreement

                
	
                  D

                	
                  Form
                    of Assignment, Assumption and Recognition Agreement

                
	
                  E

                	
                  Form
                    of Trial Balance

                
	
                  F

                	
                  [reserved]

                
	
                  G

                	
                  Request
                    for Release of Documents and Receipt

                
	
                  H

                	
                  Company’s
                    Underwriting Guidelines

                
	
                  I

                	
                  Form
                    of Term Sheet

                

        

        

        
          
            
            

          

          
            iv

            
              

            

          

          
            
            

          

        

      

      This
        is a
        Purchase, Warranties and Servicing Agreement, dated as of January 1, 2004
        and is
        executed between EMC MORTGAGE CORPORATION, as Purchaser, with offices located
        at
        Mac Arthur Ridge II, 909 Hidden Ridge Drive, Suite 200, Irving, Texas 75038
        (the
        "Purchaser"), and HomeBanc Mortgage Corporation, with its executive offices
        located at 2002 Summit Boulevard, Suite 100, Atlanta, GA 30319 (the
        "Company").

      

      W I T N E S S E T H
        :

      

      WHEREAS,
        the Purchaser has heretofore agreed to purchase from the Company and the
        Company
        has heretofore agreed to sell to the Purchaser, from time to time, certain
        Mortgage Loans on a servicing retained basis; 

      

      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 Mortgage Loan Schedule, which is annexed
        to
        the related Term Sheet; and

      

      WHEREAS,
        the Purchaser and the Company wish to prescribe the representations and
        warranties of the Company with respect to itself and the Mortgage Loans and
        the
        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 Purchaser and the Company 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) of prudent mortgage banking institutions which service
        mortgage loans of the same type as such Mortgage Loan in the jurisdiction
        where
        the related Mortgaged Property is located, and which are in accordance with
        Fannie Mae servicing practices and procedures, for MBS pool mortgages, as
        defined in the Fannie Mae Guides including future updates. 

      

      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.

      

      Agreement:
        This
        Purchase, Warranties and Servicing Agreement including all exhibits hereto,
        amendments hereof and supplements hereto.

      

      Appraised
        Value:
        With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the originator of the Mortgage Loan at the time of
        origination of the Mortgage Loan by an appraiser who met the requirements
        of the
        Company and Fannie Mae, or as determined by use of an AVM, provided, however,
        that the use of an AVM shall be permitted only upon the presentation by the
        Company to the Purchaser of an approval letter acceptable to the Purchaser
        from
        each of the Rating Agencies, which letters shall state that use of an AVM
        shall
        have no adverse effect in any material respect on the interests of any
        certificateholder of the related securitization.

      

      Assignment:
        An
        individual 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 of record the
        sale
        or transfer of the Mortgage Loan.

       

      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 State
        of
        New York or Georgia, or (iii) a day on which banks in the State of New York
        or
        Georgia are authorized or obligated by law or executive order to be
        closed.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Closing
        Date:
        With
        respect to any Mortgage Loan, the date stated on the related Term Sheet.
        

       

      Code: The
        Internal Revenue Code of 1986, or any successor statute thereto.

      

      Company:
        HomeBanc Mortgage Corporation their successors in interest and assigns, as
        permitted by this Agreement.

      

      Company's
        Officer's Certificate:
        A
        certificate signed by the Chairman of the Board, President, any Vice President
        or Treasurer of Company stating the date by which Company expects to receive
        any
        missing documents sent for recording from the applicable recording
        office.

      

      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.

      

      Confirmation:
        The
        trade confirmation letter between the Purchaser and the Company which relates
        to
        the Mortgage Loans.

      

      Co-op
        Lease:
        With
        respect to a Co-op Loan, the lease with respect to a dwelling unit occupied
        by
        the Mortgagor and relating to the stock allocated to the related dwelling
        unit.

      

      Co-op
        Loan:
        A
        Mortgage Loan secured by the pledge of stock allocated to a dwelling unit
        in a
        residential cooperative housing corporation and a collateral assignment of
        the
        related Co-op Lease.

      

      Current
        Appraised Value: With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the Company (by an appraiser who met the requirements
        of the
        Company and Fannie Mae), or through the use of an AVM, at the request of
        a
        Mortgagor for the purpose of canceling a Primary Mortgage Insurance Policy
        in
        accordance with federal, state and local laws and regulations or otherwise
        made
        at the request of the Company or Mortgagor. 

      

      Current
        LTV: The
        ratio
        of the Stated Principal Balance of a Mortgage Loan to the Current Appraised
        Value of the Mortgaged Property.

      

      Custodial
        Account:
        Each
        separate demand account or accounts created and maintained pursuant to Section
        4.04 which shall be entitled "HBMC Custodial Account, in trust for the
        Purchaser, Owner of Adjustable Rate Mortgage Loans" and shall be established
        in
        an Eligible Account, in the name of the Person that is the "Purchaser" with
        respect to the related Mortgage Loans.

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      Custodian:
        With
        respect to any Mortgage Loan, the entity stated on the related Term Sheet,
        and
        its successors and assigns, as custodian for the Purchaser. 

      

      Cut-off
        Date:
        With
        respect to any Mortgage Loan, the date stated on the related Term Sheet.
        

      

      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 related Remittance
        Date.

      

      Due
        Date:
        The day
        of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive
        of any days of grace, which is the first day of the month.

      

      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.

      

      Eligible
        Account:
        An
        account established and maintained: (i) within FDIC insured accounts created,
        maintained and monitored by the Company so that all funds deposited therein
        are
        fully insured, or (ii) as a trust account with the corporate trust department
        of
        a depository institution or trust company organized under the laws of the
        United
        States of America or any one of the states thereof or the District of Columbia
        which is not affiliated with the Company (or any sub-servicer) or (iii) with
        an
        entity which is an institution whose deposits are insured by the FDIC, the
        unsecured and uncollateralized long-term debt obligations of which shall
        be
        rated “A2” or higher by Standard & Poor’s and “A” or higher by Fitch, Inc.
        or one of the two highest short-term ratings by any applicable Rating Agency,
        and which is either (a) a federal savings association duly organized, validly
        existing and in good standing under the federal banking laws, (b) an institution
        duly organized, validly existing and in good standing under the applicable
        banking laws of any state, (c) a national banking association under the federal
        banking laws, or (d) a principal subsidiary of a bank holding company, or
        (iv)
        if ownership of the Mortgage Loans is evidenced by mortgaged-backed securities,
        the equivalent required ratings of each Rating Agency, and held such that
        the
        rights of the Purchaser and the owner of the Mortgage Loans shall be fully
        protected against the claims of any creditors of the Company (or any
        sub-servicer) and of any creditors or depositors of the institution in which
        such account is maintained or (v) in a separate non-trust account without
        FDIC
        or other insurance in an Eligible Institution. In the event that a Custodial
        Account is established pursuant to clause (iii), (iv) or (v) of the preceding
        sentence, the Company shall provide the Purchaser with written notice on
        the
        Business Day following the date on which the applicable institution fails
        to
        meet the applicable ratings requirements.

      

      Eligible
        Institution:
        An
        institution having (i) the highest short-term debt rating, and one of the
        two
        highest long-term debt ratings of each Rating Agency; or (ii) with respect
        to
        any Custodial Account, an unsecured long-term debt rating of at least one
        of the
        two highest unsecured long-term debt ratings of each Rating Agency.

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Equity
        Take-Out Refinanced Mortgage Loan:
        A
        Refinanced Mortgage Loan the proceeds of which were in excess of the outstanding
        principal balance of the existing mortgage loan as defined in the Fannie
        Mae
        Guide(s). 

      

      Escrow
        Account:
        Each
        separate trust account or accounts created and maintained pursuant to Section
        4.06 which shall be entitled "HBMC Escrow Account, in trust for the Purchaser,
        Owner of Adjustable Rate Mortgage Loans, and various Mortgagors" and shall
        be
        established in an Eligible Account, in the name of the Person that is the
        "Purchaser" with respect to the related Mortgage Loans.

      

      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: The
        Federal National Mortgage Association, or any successor thereto.

      

      Fannie
        Mae Guide(s):
        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.

      

      FHLMC:
        The
        Federal Home Loan Mortgage Corporation, or any successor thereto.

      

      FHLMC
        Guide:
        The
        FHLMC Single Family Seller/Servicer Guide and all amendments or additions
        thereto.

      

      Fidelity
        Bond:
        A
        fidelity bond to be maintained by the Company pursuant to Section
        4.12.

      

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

      

      GAAP:
        Generally accepted accounting principles, consistently applied.

      

      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 the interest rate thereon.

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      Initial
        Rate Cap: As
        to
        each adjustable rate Mortgage Loan, where applicable, the maximum increase
        or
        decrease in the Mortgage Interest Rate on the first Adjustment
        Date.

      

      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
        period prior to the first Adjustment Date.

       

      Lender
        Paid Mortgage Insurance Rate:
        The
        Lender Paid Mortgage Insurance Rate shall be a rate per annum equal to the
        percentage shown on the Mortgage Loan Schedule.

      

      Lender
        Primary Mortgage Insurance Policy:
        Any
        Primary Mortgage Insurance Policy for which premiums are paid by the Company.
        

      

      Lifetime
        Rate Cap:
        As to
        each adjustable rate Mortgage Loan, the maximum Mortgage Interest Rate over
        the
        term of such Mortgage Loan. 

      

      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.

      

      Loan-to-Value
        Ratio or LTV:
        With
        respect to any Mortgage Loan, the ratio of the original outstanding principal
        amount of the Mortgage Loan, to (i) the Appraised Value of the Mortgaged
        Property as of the Origination Date with respect to a Refinanced Mortgage
        Loan,
        and (ii) the lesser of the Appraised Value of the Mortgaged Property as of
        the
        Origination Date or the purchase price of the Mortgaged Property with respect
        to
        all other Mortgage Loans.

      

      Margin:
        With
        respect to each adjustable rate Mortgage 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, as set forth in the Mortgage
        Loan
        Schedule.

      

      Master
        Servicer:
        Wells
        Fargo Bank Minnesota, National Association, its successors in interest and
        assigns, or any successor thereto designated by the Purchaser.

       

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

       

      MERS
        Mortgage Loan:
        Any
        Mortgage Loan registered with MERS on the MERS® System.

       

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

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

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

       

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

      

      Monthly
        Advance:
        The
        aggregate of the advances made by the Company on any Remittance Date pursuant
        to
        Section 5.03.

      

      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 which is payable
        by a
        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
        File:
        The
        mortgage documents pertaining to a particular Mortgage Loan which are specified
        in Exhibit A hereto and any additional documents required to be added to
        the
        Mortgage File pursuant to this Agreement.

      

      Mortgage
        Impairment Insurance Policy:
        A
        mortgage impairment or blanket hazard insurance policy as required by Section
        4.11.

      

      Mortgage
        Interest Rate:
        The
        annual rate at which interest accrues on any Mortgage Loan, which may be
        adjusted from time to time for an adjustable rate Mortgage Loan, in accordance
        with the provisions of the related 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 attached to the related Term Sheet, which Mortgage
        Loan
        includes 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, excluding
        replaced or repurchased mortgage loans.

      

      Mortgage
        Loan Documents:
        The
        documents listed in
        Exhibit A.

      

      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 minus the Lender Paid Mortgage Insurance Rate.

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      Mortgage
        Loan Schedule:
        The
        schedule of Mortgage Loans annexed to the related Term Sheet, such schedule
        setting forth the following information with respect to each Mortgage Loan
        in
        the related Mortgage Loan Package:

      

      (1) the
        Company's Mortgage Loan identifying number;

      

      (2) the
        Mortgagor's first and last name;

      

      (3)
         the
        street address of the Mortgaged Property including the city, state and zip
        code;

      

      (4) a
        code
        indicating whether the Mortgaged Property is owner-occupied, a second home
        or an
        investor property;

      

      (5) the
        type
        of residential property constituting the Mortgaged Property;

      

      
        
          (6)
            the
            original months to maturity of the Mortgage Loan;

        

      

      

      (7) the
        remaining months to maturity from the related Cut-off Date, based on the
        original amortization schedule and, if different, the maturity expressed
        in the
        same manner but based on the actual amortization schedule;

      

      (8) the
        Sales
        Price, if applicable, Appraised Value and Loan-to-Value Ratio, at
        origination;

      

      (9) the
        Mortgage Interest Rate as of origination and as of the related Cut-off Date;
        with respect to each adjustable rate Mortgage Loan, the initial Adjustment
        Date,
        the next Adjustment Date immediately following the related Cut-off Date,
        the
        Index, the Margin, the Initial Rate Cap, if any, Periodic Rate Cap, if any,
        minimum Mortgage Interest Rate under the terms of the Mortgage Note and the
        Lifetime Rate Cap;

      

      (10) the
        Origination Date of the Mortgage Loan;

      

      (11) the
        stated maturity date;

      

      (12) the
        amount of the Monthly Payment at origination;

      

      (13) the
        amount of the Monthly Payment as of the related Cut-off Date;

      

      (14) the
        original principal amount of the Mortgage Loan; 

      

      (15) the
        scheduled Stated Principal Balance of the Mortgage Loan as of the close of
        business on the related Cut-off Date, after deduction of payments of principal
        due on or before the related Cut-off Date whether or not collected;

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      (16)
        a
        code indicating the purpose of the Mortgage Loan (i.e., purchase, rate and
        term
        refinance, equity take-out refinance); 

      

      (17)
        a
        code indicating the documentation style (i.e. full, alternative, etc.);

      

      (18) the
        number of times during the twelve (12) month period preceding the related
        Closing Date that any Monthly Payment has been received after the month of
        its
        scheduled due date;

      

      (19) the
        date
        on which the first payment is or was due; 

      

      
        
          (20)
            a
            code
            indicating whether or not the Mortgage Loan is the subject of a Primary
            Mortgage
            Insurance Policy and the name of the related insurance carrier;

        

      

      

      (21)
         a
        code
        indicating whether or not the Mortgage Loan is currently convertible and
        the
        conversion spread; 

      

      (22)
         the
        last
        Due Date on which a Monthly Payment was actually applied to the unpaid principal
        balance of the Mortgage Loan.

      

      (23)
         product
        type (i.e. fixed, adjustable, 3/1, 5/1, etc.); 

      

      
        
          (24)
            credit
            score and/or mortgage score, if applicable;

        

      

      

      
        
          (25)
            a
            code
            indicating whether or not the Mortgage Loan has a prepayment penalty
            and if so,
            the amount and term thereof; 

        

      

      

      (26) the
        Current Appraised Value of the Mortgage Loan and Current LTV, if applicable;
        

      

      (27) a
        code
        indicating whether the Mortgage Loan is a MERS Mortgage Loan and the MERS
        number, if applicable;
        and

      

      (28) a
        code
        indicating whether or not the Mortgage Loan is the subject of a Lender Primary
        Mortgage Insurance Policy and the name of the related insurance carrier and
        the
        Lender Paid Mortgage Insurance Rate; 

      

      With
        respect to the Mortgage Loans in the aggregate, the Mortgage Loan Schedule
        attached to the related Term Sheet shall set forth the following information,
        as
        of the related Cut-off Date:

      

      (1) the
        number of Mortgage Loans;

      

      (2) the
        current aggregate outstanding principal balance of the Mortgage
        Loans;

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      (3) the
        weighted average Mortgage Interest Rate of the Mortgage Loans; 

      

      (4) the
        weighted average maturity of the Mortgage Loans; and

      

      (5)
         the
        weighted average months to next Adjustment Date;

       

      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 or contiguous parcels of real estate bearing
        one
        legal description and tax assessment number and 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; except that with respect to real property located in
        jurisdictions in which the use of leasehold estates for residential properties
        is a widely-accepted practice, a leasehold estate of the Mortgage, the term
        of
        which is equal to or longer than the term of the Mortgage. 

      

      Mortgagor:
        The
        obligor on a Mortgage Note. 

      

      Net
        Liquidation Proceeds:
        As to
        any Mortgage Loan, Liquidation Proceeds net of unreimbursed Servicing Advances,
        Servicing Fees and Monthly Advances and expenses incurred by the Company
        in
        connection with the liquidation of the Mortgage Loan and the related Mortgaged
        Property.

      

      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 Purchaser
        and the Master Servicer 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 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 party on behalf
        of
        whom the opinion is being given, reasonably acceptable to the
        Purchaser.

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      Origination
        Date:
        The
        date on which a Mortgage Loan funded, which date shall not, in connection
        with a
        Refinanced Mortgage Loan, be the date of the funding of the debt being
        refinanced, but rather the closing of the debt currently outstanding under
        the
        terms of the Mortgage Loan Documents. 

      

      OTS:
        Office
        of Thrift Supervision, its successors and assigns.

      

      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 set forth in the related
        Mortgage Note and the related Mortgage Loan Schedule.

      

      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; 

      

      
        	 	
                (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
                  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 of all of the Mortgage Loans and Permitted
                  Investments;

              

      

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      
        	 	
                (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 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 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 or if such investment or security is
        purchased at a price greater than 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:
        With
        respect to any Remittance Date, for each Mortgage Loan that was the subject
        of a
        Principal Prepayment during the related Prepayment Period, an amount equal
        to
        the excess of one month’s interest at the applicable Mortgage Loan Remittance
        Rate on the amount of such Principal Prepayment over the amount of interest
        (adjusted to the Mortgage Loan Remittance Rate) actually paid by the related
        Mortgagor with respect to such Prepayment Period.

      

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

      

      Primary
        Mortgage Insurance Policy:
        Each
        primary policy of mortgage insurance represented to be in effect pursuant
        to
        Section 3.02(hh), or any replacement policy therefor obtained by the Company
        pursuant to Section 4.08.

      

      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 (Northeast Edition).

      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      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. 

       

      Purchase
        Price:
        As
        defined in Section 2.02.

      

      Purchaser:
        EMC
        Mortgage Corporation, its successors in interest and assigns.

      

      Qualified
        Appraiser:
        An
        appraiser, duly appointed by the Company, 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 such appraiser and the appraisal made by such appraiser
        both
        satisfy the requirements of Title XI of FIRREA and the regulations promulgated
        thereunder and the requirements of Fannie Mae, all as in effect on the date
        the
        Mortgage Loan was originated.

      

      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 or FHLMC. 

      

      Rating
        Agency:
        Standard & Poor's, Fitch, Inc. or, in the event that some or all of the
        ownership of the Mortgage Loans is evidenced by mortgage-backed securities,
        the
        nationally recognized rating agencies issuing ratings with respect to such
        securities, if any.

       

      Refinanced
        Mortgage Loan:
        A
        Mortgage Loan which was made to a Mortgagor who owned the Mortgaged Property
        prior to the origination of such Mortgage Loan and the proceeds of which
        were
        used in whole or part to satisfy an existing mortgage.

      

      REMIC:
        A "real
        estate mortgage investment conduit," as such term is 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 the related provisions and
        regulations promulgated thereunder, as the foregoing may be in effect from
        time
        to time.

      

      Remittance
        Date:
        The
        18th day of any month, beginning with the First Remittance Date, 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 Company of any REO Property.

      

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      REO
        Disposition Proceeds:
        Amounts
        received by the Company in connection with a related REO
        Disposition.

      

      REO
        Property:
        A
        Mortgaged Property acquired by the Company on behalf of the Purchaser as
        described in Section 4.13.

      

      Repurchase
        Price:
        With
        respect to any Mortgage Loan, a price equal to (i) the product of the greater
        of
        100% or the percentage of par as stated in the Confirmation multiplied by
        the
        Stated Principal
        Balance
        of such Mortgage Loan on the repurchase date, plus
        (ii)
        interest on such outstanding principal balance at the Mortgage Loan Remittance
        Rate from the last date through which interest has been paid and distributed
        to
        the Purchaser to the end of the month of repurchase, plus, (iii) third party
        expenses incurred in connection with the transfer of the Mortgage Loan being
        repurchased; 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.

      

      SAIF:
        The
        Savings Association Insurance Fund, or any successor thereto.

      

      Servicing
        Advances:
        All
        customary, reasonable and necessary "out of pocket" costs and expenses
        (including reasonable attorneys' 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, 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 Company specifies
        the
        Mortgage Loan(s) to which such expenses relate and, upon Purchaser’s request,
        provides documentation supporting such expense (which documentation would
        be
        acceptable to Fannie Mae), and provided further that any such enforcement,
        administrative or judicial proceeding does not arise out of a breach of any
        representation, warranty or covenant of the Company hereunder), (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, (e) any expenses reasonably
        sustained by the Company with respect to the liquidation of the Mortgaged
        Property in accordance with the terms of this Agreement and (f) compliance
        with
        the obligations under Section 4.08. 

      

      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 computed. The obligation
        of
        the Purchaser to pay the Servicing Fee is limited to, and the Servicing Fee
        is
        payable solely from, the interest portion of such Monthly Payment collected
        by
        the Company, or as otherwise provided under Section 4.05 and in accordance
        with
        the Fannie Mae Guide(s). 

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      Servicing
        Fee Rate:
        As set
        forth in the Term Sheet.

      

      Servicing
        File:
        With
        respect to each Mortgage Loan, the file retained by the Company, which may
        be in
        electronic media so long as original documents are not required for purposes
        of
        realization of Liquidation Proceeds, REO Disposition Proceeds, Condemnation
        Proceeds or Insurance Proceeds, consisting of all documents in the Mortgage
        File
        which are not delivered to the Purchaser and the Mortgage Loan Documents
        listed
        in Exhibit A, the originals of such Mortgage Loan Documents which are delivered
        to the Purchaser or its designee pursuant to Section 2.04.

      

      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 as of any date of determination, (i) the principal balance
        of
        such Mortgage Loan at the 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 Mortgage
        Loan representing payments or recoveries of principal or advances in lieu
        thereof.

      

      Subservicer:
        Any
        subservicer which is subservicing the Mortgage Loans pursuant to a Subservicing
        Agreement. Any subservicer shall meet the qualifications set forth in Section
        4.01.

      

      Subservicing
        Agreement:
        An
        agreement between the Company and a Subservicer, if any, for the servicing
        of
        the Mortgage Loans.

      

      Term
        Sheet:
        A
        supplemental agreement in the form attached hereto as Exhibit I which shall
        be
        executed and delivered by the Company and the Purchaser to provide for the
        sale
        and servicing pursuant to the terms of this Agreement of the Mortgage Loans
        listed on Schedule I attached thereto, which supplemental agreement shall
        contain certain specific information relating to such sale of such Mortgage
        Loans and may contain additional covenants relating to such sale of such
        Mortgage Loans.

      

      

      ARTICLE
        II

      

      PURCHASE
        OF MORTGAGE LOANS; SERVICING OF MORTGAGE LOANS;

      RECORD
        TITLE AND POSSESSION OF MORTGAGE FILES;

      BOOKS
        AND RECORDS; CUSTODIAL AGREEMENT;

      DELIVERY
        OF MORTGAGE LOAN DOCUMENTS

      

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      Section
        2.01 Agreement
        to Purchase.

      

      The
        Company agrees to sell and the Purchaser agrees to purchase the Mortgage
        Loans
        having an aggregate Stated Principal Balance on the related Cut-off Date
        set
        forth in the related Term Sheet in an amount as set forth in the Confirmation,
        or in such other amount as agreed by the Purchaser and the Company as evidenced
        by the actual aggregate Stated Principal Balance of the Mortgage Loans accepted
        by the Purchaser on the related Closing Date, with servicing retained by
        the
        Company. The Company shall deliver the related Mortgage Loan Schedule attached
        to the related Term Sheet for the Mortgage Loans to be purchased on the related
        Closing Date to the Purchaser at least two (2) Business Days prior to the
        related Closing Date. The Mortgage Loans shall be sold pursuant to this
        Agreement, and the related Term Sheet shall be executed and delivered on
        the
        related Closing Date.

      

      Section
        2.02 Purchase
        Price.

      

      The
        Purchase Price for each Mortgage Loan shall be the percentage of par as stated
        in the Confirmation (subject to adjustment as provided therein), multiplied
        by
        the Stated Principal Balance, as of the related Cut-off Date, of the Mortgage
        Loan listed on the related Mortgage Loan Schedule attached to the related
        Term
        Sheet, after application of scheduled payments of principal due on or before
        the
        related Cut-off Date whether or not collected. 

      

      In
        addition to the Purchase Price as described above, the Purchaser shall pay
        to
        the Company, at closing, accrued interest on the Stated Principal Balance
        of
        each Mortgage Loan as of the related Cut-off Date at the Mortgage Loan
        Remittance Rate of each Mortgage Loan from the related Cut-off Date through
        the
        day prior to the related Closing Date, inclusive.

      

      The
        Purchase Price plus accrued interest as set forth in the preceding paragraph
        shall be paid on the related Closing Date by wire transfer of immediately
        available funds.

      

      Purchaser
        shall be entitled to (1) all scheduled principal due after the related Cut-off
        Date, (2) all other recoveries of principal collected on or 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 Company or any successor
        servicer after the related Cut-off Date shall belong to the Company), and
        (3)
        all payments of interest on the Mortgage Loans net of applicable Servicing
        Fees
        (minus that portion of any such payment which is allocable to the period
        prior
        to the related Cut-off Date). The outstanding 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,
        together with any unscheduled principal prepayments collected prior to the
        related Cut-off Date; provided, however, that 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 shall be the property of the Purchaser. The Company 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 Company
        to the
        Purchaser.

      

      
        
          
          

        

        
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      Section
        2.03 Servicing
        of Mortgage Loans.

      

      Simultaneously
        with the execution and delivery of each Term Sheet, the Company does hereby
        agree to directly service the Mortgage Loans listed on the related Mortgage
        Loan
        Schedule attached to the related Term Sheet subject to the terms of this
        Agreement and the related Term Sheet. The rights of the Purchaser to receive
        payments with respect to the related Mortgage Loans shall be as set forth
        in
        this Agreement.

      

      Section
        2.04 Record
        Title and Possession of Mortgage Files;
        Maintenance of Servicing Files.

      

      As
        of the
        related Closing Date, the Company sold, transferred, assigned, set over and
        conveyed to the Purchaser, without recourse, and the Company hereby acknowledges
        that the Purchaser has, but subject to the terms of this Agreement and the
        related Term Sheet, all the right, title and interest of the Company in and
        to
        the Mortgage Loans. Company will deliver the Mortgage Files to the Custodian
        designated by Purchaser, on or before the related Closing Date, at the expense
        of the Company. The Company shall maintain a Servicing File, which shall
        contain
        all documents necessary to service the Mortgage Loans. The possession of
        each
        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. From the related
        Closing Date, the ownership of each Mortgage Loan, including the Mortgage
        Note,
        the Mortgage, the contents of the related Mortgage File and all rights,
        benefits, proceeds and obligations arising therefrom or in connection therewith,
        has been vested in the Purchaser. 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 Company shall be received
        and held by the Company in trust for the benefit of the Purchaser as the
        owner
        of the Mortgage Loans. Any portion of the Mortgage Files retained by the
        Company
        shall be appropriately identified in the Company's computer system to clearly
        reflect the ownership of the Mortgage Loans by the Purchaser. The Company
        shall
        release its custody of the contents of the Mortgage Files only in accordance
        with written instructions of the Purchaser, except when 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 or Loans with respect thereto
        pursuant to this Agreement and the related Term Sheet, such written instructions
        shall not be required.

      

      Section
        2.05  Books
        and Records.

      

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      The
        sale
        of each Mortgage Loan has been 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 the Mortgage Loans that shall be appropriately identified in
        the
        Company's computer system to clearly reflect the ownership of the 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 FHLMC,
        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 of any condominium project as required by Fannie Mae or
        FHLMC, 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 Company
        may be in the form of microfilm or microfiche.

      

      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 a Mortgage Loan and
        thereafter in accordance with applicable laws and regulations.

      

      In
        addition to the foregoing, Company shall provide to any supervisory agents
        or
        examiners that regulate Purchaser, including but not limited to, the OTS,
        the
        FDIC and other similar entities, access, during normal business hours, upon
        reasonable advance notice to Company and without charge to Company or such
        supervisory agents or examiners, to any documentation regarding the Mortgage
        Loans that may be required by any applicable regulator.

      

      Section
        2.06. Transfer
        of Mortgage Loans.

      

      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 any Mortgage Loan unless a notice of the transfer
        of such Mortgage Loan has been delivered to the Company in accordance with
        this
        Section 2.06 and the books and records of the Company 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, provided,
        however, that the transferee will not be deemed to be a Purchaser hereunder
        binding upon the Company unless such transferee shall agree in writing to
        be
        bound by the terms of this Agreement and an original counterpart of the
        instrument of transfer in an Assignment and Assumption of this Agreement
        substantially in the form of Exhibit D hereto executed by the transferee
        shall
        have been delivered to the Company. 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 the previous Purchaser shall be released from its obligations
        hereunder with respect to the Mortgage Loans sold or transferred. 

      

      
        
          
          

        

        
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      Section
        2.07 Delivery
        of Mortgage Loan Documents.

      

      The
        Company shall deliver and release to the Purchaser or its designee the Mortgage
        Loan Documents in accordance with the terms of this Agreement and the related
        Term Sheet. The documents enumerated as items (1), (2), (3), (4), (5), (6),
        (7),
        (8), (9) and (16) in Exhibit A hereto shall be delivered by the Company to
        the
        Purchaser or its designee no later than three (3) Business Days prior to
        the
        related Closing Date pursuant to a bailee letter agreement. All other documents
        in Exhibit A hereto, together with all other documents executed in connection
        with the Mortgage Loan that Company may have in its possession, shall be
        retained by the Company in trust for the Purchaser. If the Company cannot
        deliver the original recorded Mortgage Loan Documents or the original policy
        of
        title insurance, including riders and endorsements thereto, on the related
        Closing Date, the Company shall, promptly upon receipt thereof and in any
        case
        not later than one hundred twenty (120) days from the related Closing Date,
        deliver such original documents, including original recorded documents, to
        the
        Purchaser or its designee (unless the Company is delayed in making such delivery
        by reason of the fact that such documents shall not have been returned by
        the
        appropriate recording office). If delivery is not completed within one hundred
        twenty (120) 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, Company shall deliver such document to Purchaser, or its
        designee, within such time period as specified in a Company's Officer's
        Certificate. In the event that documents have not been received by the date
        specified in the Company's Officer's Certificate, a subsequent Company's
        Officer's Certificate shall be delivered by such date specified in the prior
        Company's Officer's Certificate, stating a revised date for receipt of
        documentation. The procedure shall be repeated until the documents have been
        received and delivered. If delivery is not completed within one hundred eighty
        (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 Company shall continue to use its best efforts to effect delivery
        as
        soon as possible thereafter, provided that if such documents are not delivered
        by the 270th day from the date of the related Closing Date, the Company shall
        repurchase the related Mortgage Loans at the Repurchase Price in accordance
        with
        Section 3.03 hereof. 

      

      For
        each
        Mortgage Loan that is not a MERS Mortgage Loan, the Company shall pay all
        initial recording fees, if any, for the assignments of mortgage and any other
        fees in connection with the transfer of all original documents to the Purchaser
        or its designee. Company shall prepare, in recordable form, all assignments
        of
        mortgage necessary to assign the Mortgage Loans to Purchaser, or its designee.
        Company shall be responsible for recording the assignments of mortgage.

      

      In
        addition, in connection with the assignment of any MERS Mortgage Loan, the
        Company agrees that it will cause, at its own expense, 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 of such Mortgage Loans. The Company further agrees that it
        will
        not alter the information referenced in this paragraph with respect to any
        Mortgage Loan during the term of this Agreement unless and until such Mortgage
        Loan is repurchased in accordance with the terms of this Agreement.

      

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      Company
        shall provide an original or duplicate original of the title insurance policy
        to
        Purchaser or its designee no later than ninety (90) days of the receipt of
        the
        recorded documents from the applicable recording office. 

      

      Any
        review by the Purchaser, or its designee, of the Mortgage Files shall in
        no way
        alter or reduce the Company's obligations hereunder.

      

      If
        the
        Purchaser or its designee discovers any defect with respect to a Mortgage
        File,
        the Purchaser shall, or shall cause its designee to, give written specification
        of such defect to the Company which may be given in the exception report
        or the
        certification delivered pursuant to this Section 2.07, or otherwise in writing
        and the Company shall cure or repurchase such Mortgage Loan in accordance
        with
        Section 3.03.

      

      The
        Company shall 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 Section 4.01 or 6.01 within
        one
        week of their execution; provided, however, that the Company shall provide
        the
        Purchaser, or its designee, with a certified true copy of any such document
        submitted for recordation within one week of its execution, and shall provide
        the original of any document submitted for recordation or a copy of such
        document certified to be a true and complete copy of the original within
        sixty
        (60) days of its submission for recordation.

      

      From
        time
        to time the Company may have a need for Mortgage Loan Documents to be released
        from Purchaser, or its designee. Purchaser shall, or shall cause its designee,
        upon the written request of the Company, within ten (10) Business Days, deliver
        to the Company, any requested documentation previously delivered to Purchaser
        as
        part of the Mortgage File, provided that such documentation is promptly returned
        to Purchaser, or its designee, when the Company no longer requires possession
        of
        the document, and provided that during the time that any such documentation
        is
        held by the Company, such possession is in trust for the benefit of Purchaser.
        Company shall indemnify Purchaser, and its designee, from and against any
        and
        all losses, claims, damages, penalties, fines, forfeitures, costs and expenses
        (including court costs and reasonable attorney's fees) resulting from or
        related
        to the loss, damage, or misplacement of any documentation delivered to Company
        pursuant to this paragraph.

      

      Section
        2.08 Quality
        Control Procedures.

      

      The
        Company 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 loan production
        and servicing activities. The program is to ensure that the Mortgage Loans
        are
        originated and 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.

      

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      Section
        2.09
        Near-term Principal Prepayments; Near Term Payment Defaults

      

      In
        the
        event any Principal Prepayment in full is made by a Mortgagor on or prior
        to
        three months after the related Closing Date, the Company shall remit to the
        Purchaser an amount equal to the excess, if any, of the Purchase Price
        Percentage over par multiplied by the amount of such Principal Prepayment.
        Such
        remittance shall be made by the Company to Purchaser no later than the third
        Business Day following receipt of such Principal Prepayment by the Company.
        

      

      In
        the
        event either of the first three (3) scheduled Monthly Payments which are
        due
        under any Mortgage Loan after the related Cut-off Date are not made during
        the
        month in which such Monthly Payments are due, then not later than five (5)
        Business Days after notice to the Company by Purchaser (and at Purchaser’s sole
        option), the Company, shall repurchase such Mortgage Loan from the Purchaser
        pursuant to the repurchase provisions contained in this Subsection
        3.03.

      

      Section
        2.10  Modification
        of Obligations.
        Purchaser may, without any notice to Company, extend, compromise, renew,
        release, change, modify, adjust or alter, by operation of law or otherwise,
        any
        of the obligations of the Mortgagors or other persons obligated under a Mortgage
        Loan without releasing or otherwise affecting the obligations of Company
        under
        this Agreement, or with respect to such Mortgage Loan, except to the extent
        Purchaser’s extension, compromise, release, change, modification, adjustment, or
        alteration affects Company’s ability to collect the Mortgage Loan or realize on
        the security of the Mortgage, but then only to the extent such action has
        such
        effect or reduces the Servicing Fee.

      

      
        
          
          

        

        
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      ARTICLE
        III

      

      REPRESENTATIONS
        AND WARRANTIES OF

      THE
        COMPANY; REPURCHASE; REVIEW OF MORTGAGE LOANS

      

      Section
        3.01 Representations
        and Warranties of the Company. 

      

      The
        Company represents, warrants and covenants to the Purchaser that, as of the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Company is a corporation, duly organized, validly existing and in good standing
        under the laws of the State of Delaware and has all licenses necessary to
        carry
        out its business as now being conducted, and is licensed and qualified to
        transact business in and is in good standing under the laws of each state
        in
        which any Mortgaged Property is located or is otherwise exempt under applicable
        law from such licensing or qualification or is otherwise not required under
        applicable law to effect such licensing or qualification and no demand for
        such
        licensing or qualification has been made upon such Company by any such state,
        and in any event such Company is in compliance with the laws of any 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
        Company has the full power and authority and legal right to hold, transfer
        and
        convey each Mortgage Loan, to sell each Mortgage Loan and to execute, deliver
        and perform, and to enter into and consummate all transactions contemplated
        by
        this Agreement and the related Term Sheet and to conduct its business as
        presently conducted, has duly authorized the execution, delivery and performance
        of this Agreement and the related Term Sheet and any agreements contemplated
        hereby, has duly executed and delivered this Agreement and the related Term
        Sheet, and any agreements contemplated hereby, and this Agreement and the
        related Term Sheet and each Assignment to the Purchaser and any agreements
        contemplated hereby, constitutes a legal, valid and binding obligation of
        the
        Company, enforceable against it in accordance with its terms, and all requisite
        corporate action has been taken by the Company to make this Agreement and
        the
        related Term Sheet and all agreements contemplated hereby valid and binding
        upon
        the Company in accordance with their terms; 

      

      (c)
        Neither the execution and delivery of this Agreement and the related Term
        Sheet,
        nor the origination or purchase of the Mortgage Loans by the Company, the
        sale
        of the Mortgage Loans to the Purchaser, the consummation of the transactions
        contemplated hereby, or the fulfillment of or compliance with the terms and
        conditions of this Agreement and the related Term Sheet will conflict with
        any
        of the terms, conditions or provisions of the Company's charter 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 Company 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 Company or its properties are subject, or impair the ability
        of the
        Purchaser to realize on the Mortgage Loans.

      

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      (d)
        There
        is no litigation, suit, proceeding or investigation pending or, to the best
        of
        Company’s knowledge, threatened, or any order or decree outstanding, with
        respect to the Company which, either in any one instance or in the aggregate,
        is
        reasonably likely to have a material adverse effect on the sale of the Mortgage
        Loans, the execution, delivery, performance or enforceability of this Agreement
        and the related Term Sheet, or which is reasonably likely to have a material
        adverse effect on the financial condition of the Company.

      

      (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 Company
        of
        or compliance by the Company with this Agreement or the related Term Sheet,
        or
        the sale of the Mortgage Loans and delivery of the Mortgage Files to the
        Purchaser or the consummation of the transactions contemplated by this Agreement
        or the related Term Sheet, except for consents, approvals, authorizations
        and
        orders which have been obtained;

      

      (f)
        The
        consummation of the transactions contemplated by this Agreement or the related
        Term Sheet is in the ordinary course of business of the Company and Company,
        and
        the transfer, assignment and conveyance of the Mortgage Notes and the Mortgages
        by the Company pursuant to this Agreement or the related Term Sheet are not
        subject to bulk transfer or any similar statutory provisions in effect in
        any
        applicable jurisdiction;

      

      (g)
        The
        origination and servicing practices used by the Company and any prior originator
        or servicer with respect to each Mortgage Note and Mortgage have been legal
        and
        in accordance with applicable laws and regulations and the Mortgage Loan
        Documents, and in all material respects proper and prudent in the mortgage
        origination and servicing business. Each Mortgage Loan has been serviced
        in all
        material respects with Accepted Servicing Practices. With respect to escrow
        deposits and payments that the Company, on behalf of an investor, is entitled
        to
        collect, all such payments are in the possession of, or under the control
        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
        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;

      

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      (h) The
        Company has no 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 such Mortgage Loan to
        become
        delinquent or adversely affect the value or the marketability of the Mortgage
        Loan. The Company did not select the Mortgage Loans sold to Purchaser based
        on
        any adverse selection of mortgage loans in its portfolio that met Purchaser’s
        purchase parameters for this transaction (as such parameters are set forth
        in
        the Confirmation), including without limitation, the location or condition
        of
        the Mortgaged Property, payment pattern of the borrower or any other factor
        that
        may adversely affect the expected cost of foreclosing, owning or holding
        the
        Mortgage Loans or related Mortgaged Property or collecting the insurance
        or
        guarantee proceeds related thereto; 

      

      (i) The
        Company will treat the sale of the Mortgage Loans to the Purchaser as a sale
        for
        reporting and accounting purposes and, to the extent appropriate, for federal
        income tax purposes; 

      

      (j) Company
        is an approved seller/servicer of residential mortgage loans for Fannie Mae,
        FHLMC and HUD, with such facilities, procedures and personnel necessary for
        the
        sound servicing of such mortgage loans. The Company is duly qualified, licensed,
        registered and otherwise authorized under all applicable federal, state and
        local laws, and regulations, if applicable, and is in good standing to sell
        mortgage loans to and service mortgage loans for Fannie Mae and FHLMC and
        no
        event has occurred which would make Company unable to comply with eligibility
        requirements or which would require notification to either Fannie Mae or
        FHLMC;

      

      (k) The
        Company does not believe, nor does it have any cause or reason to believe,
        that
        it cannot perform each and every covenant contained in this Agreement or
        the
        related Term Sheet. 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 with the intent to hinder, delay or defraud any of the
        Company's creditors;

      

      (l) No
        statement, tape, diskette, form, report or other document prepared by, or
        on
        behalf of, Company pursuant to this Agreement or the related Term Sheet or
        in
        connection with the transactions contemplated hereby, contains or will, as
        of
        the date such documentation is delivered by the Company, contain any statement
        that is or will be inaccurate or misleading in any material respect;

      

      (m)
         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. In the opinion of Company, the consideration received
        by
        Company upon the sale of the Mortgage Loans to Purchaser under this Agreement
        and the related Term Sheet constitutes fair consideration for the Mortgage
        Loans
        under current market conditions. 

      

      
        
          
          

        

        
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      (n)
         Company
        has delivered to the Purchaser financial statements of its parent, for its
        last
        two complete fiscal years. All such financial information fairly presents
        the
        pertinent results of operations and financial position for the period identified
        and has been prepared in accordance with GAAP consistently applied throughout
        the periods involved, except as set forth in the notes thereto. There has
        been
        no change in the business, operations, financial condition, properties or
        assets
        of the Company since the date of the Company’s financial information that would
        have a material adverse effect on its ability to perform its obligations
        under
        this Agreement;

      

      (o)
         The
        Company 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; 

      

      Section
        3.02 Representations
        and Warranties as to Individual
        Mortgage Loans.

      

      References
        in this Section to percentages of Mortgage Loans refer in each case to the
        percentage of the aggregate Stated Principal Balance of the Mortgage Loans
        as of
        the related Cut-off Date, based on the outstanding Stated Principal Balances
        of
        the Mortgage Loans as of the related Cut-off Date, and giving effect to
        scheduled Monthly Payments due on or prior to the related Cut-off Date, whether
        or not received. References to percentages of Mortgaged Properties refer,
        in
        each case, to the percentages of expected aggregate Stated Principal Balances
        of
        the related Mortgage Loans (determined as described in the preceding sentence).
        The Company hereby represents and warrants to the Purchaser, as to each Mortgage
        Loan, as of the related Closing Date as follows:

      

        
        (a)
The
        information set forth in the Mortgage Loan Schedule attached to the related
        Term
        Sheet is true, complete and correct in all material respects as of the related
        Cut-Off Date;

      

      (b) The
        Mortgage creates a valid, subsisting and enforceable first lien or a first
        priority ownership interest in an estate in fee simple in real property securing
        the related Mortgage Note subject to principles of equity, bankruptcy,
        insolvency and other laws of general application affecting the rights of
        creditors;

      

      (c)
        All
        payments due prior to the related Cut-off Date for such Mortgage Loan have
        been
        made as of the related Closing Date; the Mortgage Loan has not been dishonored;
        there are no material defaults under the terms of the Mortgage Loan; the
        Company
        has not advanced its own funds, or induced, solicited or knowingly received
        any
        advance of funds from a party other than the owner of the Mortgaged Property
        subject to the Mortgage, directly or indirectly, for the payment of any amount
        required by the Mortgage Loan. As of the related Closing Date, all of the
        Mortgage Loans will have an actual Interest Paid to Date of their related
        Cut-off Date(or later) and will be due for the scheduled monthly payment
        next
        succeeding the Cut-off Date (or later), as evidenced by a posting to Company's
        servicing collection system. No payment under any Mortgage Loan is delinquent
        as
        of the related Closing Date nor has any scheduled payment been delinquent
        at any
        time during the twelve (12) months prior to the month of the related Closing
        Date. For purposes of this paragraph, a Mortgage Loan will be deemed delinquent
        if any payment due thereunder was not paid by the Mortgagor in the month
        such
        payment was due;

      

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      (d)
         The
        origination and collection practices used by the Company with respect to
        each
        Mortgage Note and Mortgage have been in all respects legal, proper, prudent
        and
        customary in the mortgage origination and servicing industry. The Mortgage
        Loan
        has been serviced by the Company and any predecessor servicer in accordance
        with
        the terms of the Mortgage Note. With respect to escrow deposits and Escrow
        Payments, if any, all such payments are in the possession of, or under the
        control of, the Company and there exist no deficiencies in connection therewith
        for which customary arrangements for repayment thereof have not been made.
        No
        escrow deposits or Escrow Payments or other charges or payments due the Company
        have been capitalized under any Mortgage or the related Mortgage Note and
        no
        such escrow deposits or Escrow Payments are being held by the Company for
        any
        work on a Mortgaged Property which has not been completed;

      

      (e)
        The
        terms of the Mortgage Note and the Mortgage have not been impaired, waived,
        altered or modified in any respect, except by written instruments which have
        been recorded to the extent any such recordation is required by law, or,
        necessary to protect the interest of the Purchaser. No instrument of waiver,
        alteration or modification has been executed except in connection with a
        modification agreement and which modification agreement is part of the Mortgage
        File and the terms of which are reflected in the related Mortgage Loan Schedule,
        and no Mortgagor has been released, in whole or in part, from the terms thereof
        except in connection with an assumption agreement and which assumption agreement
        is part of the Mortgage File and the terms of which are reflected in the
        related
        Mortgage Loan Schedule; the substance of any such waiver, alteration or
        modification has been approved by the issuer of any related Primary Mortgage
        Insurance Policy, Lender Primary Mortgage Insurance Policy and title insurance
        policy, to the extent required by the related policies;

      

      (f)
        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 or
        the
        Mortgage, or the exercise of any right thereunder, render the Mortgage Note
        or
        Mortgage unenforceable, in whole or in part, or subject to any right of
        rescission, set-off, counterclaim or defense, including the defense of usury,
        and no such right of rescission, set-off, counterclaim or defense has been
        asserted with respect thereto; and as of the related Closing Date the Mortgagor
        was not a debtor in any state or federal bankruptcy or insolvency
        proceeding;

      

      (g)
        All
        buildings or other customarily insured improvements upon the Mortgaged Property
        are insured by an insurer acceptable under the Fannie Mae or FHLMC Guides,
        against loss by fire, hazards of extended coverage and such other hazards
        as are
        provided for in the Fannie Mae or FHLMC Guide, as well as all additional
        requirements set forth in Section 4.10 of this Agreement. All such standard
        hazard policies are in full force and effect and contain a standard mortgagee
        clause naming the Company and its successors in interest and assigns as loss
        payee and such clause is still in effect and all premiums due thereon have
        been
        paid. If required by the Flood Disaster Protection Act of 1973, as amended,
        the
        Mortgage Loan is covered by a flood insurance policy meeting the requirements
        of
        the current guidelines of the Federal Insurance Administration which policy
        conforms to Fannie Mae or FHLMC requirements and was issued by an insurer
        acceptable to Fannie Mae or FHLMC, as well as all additional requirements
        set
        forth in Section 4.10 of this Agreement. 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. Neither the Company (nor any prior
        originator or servicer of any of the Mortgage Loans) nor any Mortgagor has
        engaged in any act or omission which has impaired or would impair the coverage
        of any such policy, the benefits of the endorsement provided for herein,
        or the
        validity and binding effect of either;

      

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      (h)
        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 or disclosure laws applicable
        to the
        Mortgage Loan have been complied with in all material respects; none of the
        Mortgage Loans are classified as a (a) a “high cost” loan under the Home
        Ownership and Equity Protection Act of 1994 or (b) a “high cost”, “threshold”,
        or “predatory” loan under any other applicable state, federal or local law; the
        Company 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 Company's office during normal business hours upon reasonable
        advance notice;

      

      (i)
        The
        Mortgage has not been satisfied, canceled or subordinated, in whole or in
        part,
        or rescinded, 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.
        The
        Company has not 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, nor has the Company waived any default resulting from any action
        or
        inaction by the Mortgagor;

      

      (j) The
        Mortgage is a valid, subsisting, enforceable and perfected 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 affixed to such buildings, and all additions, alterations and
        replacements made at any time with respect to the foregoing securing the
        Mortgage Note's original principal balance subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors. The Mortgage and the Mortgage Note do not contain any
        evidence of any security interest or other interest or right thereto. Such
        lien
        is free and clear of all adverse claims, liens and encumbrances having priority
        over the first lien of the Mortgage subject only to (1) the lien of
        non-delinquent 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 which
        are
        acceptable to mortgage lending institutions generally and either (A) which
        are
        referred to in the lender’s title insurance policy delivered to the originator
        or otherwise considered in the appraisal made for the originator of the Mortgage
        Loan, or (B) which do not adversely affect the residential use or Appraised
        Value of the Mortgaged Property as set forth in such appraisal, and (3) 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, subsisting, enforceable and
        perfected first lien and first priority security interest on the property
        described therein, and the Company has the full right to sell and assign
        the
        same to the Purchaser;

      

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      (k)
        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 subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors, and the Company has taken all action necessary to transfer
        such rights of enforceability to the Purchaser. 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. The
        Mortgage Loan Documents are on forms acceptable to Fannie Mae and
        FHLMC.
        The
        Mortgage Note and the Mortgage have been duly and properly executed by such
        parties. No fraud, error, omission, misrepresentation, negligence or similar
        occurrence with respect to a Mortgage Loan has taken place on the part of
        Company or the Mortgagor, or, to the best of Company’s knowledge, information
        and belief, and after due inquiry, on the part of any other party involved
        in
        the origination or servicing of the Mortgage Loan. The proceeds of the Mortgage
        Loan have been fully disbursed and there is no requirement for future advances
        thereunder, and any and all requirements as to completion of any on-site
        or
        off-site improvements and as to disbursements of any escrow funds therefor
        have
        been complied with. All costs, fees and expenses incurred in making or closing
        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;

      

      (l)
        The
        Company is the sole owner and holder of the Mortgage Loan and the indebtedness
        evidenced by the Mortgage Note. Upon the sale of the Mortgage Loan to the
        Purchaser, the Company will retain the Mortgage File or any part thereof
        with
        respect thereto not delivered to the Purchaser or the Purchaser’s designee in
        trust only for the purpose of servicing and supervising the servicing of
        the
        Mortgage Loan. Immediately prior to the transfer and assignment to the
        Purchaser, the Mortgage Loan, including the Mortgage Note and the Mortgage,
        were
        not subject to an assignment, sale or pledge to any person other than Purchaser,
        and the Company had good and marketable title to and was the sole owner thereof
        and had full right to transfer and sell the Mortgage Loan to the Purchaser
        free
        and clear of any encumbrance, equity, lien, pledge, charge, claim or security
        interest and has the full right and authority subject to no interest or
        participation of, or agreement with, any other party, to sell and assign
        the
        Mortgage Loan pursuant to this Agreement and following the sale of the Mortgage
        Loan, the Purchaser will own such Mortgage Loan free and clear of any
        encumbrance, equity, participation interest, lien, pledge, charge, claim
        or
        security interest. The Company intends to relinquish all rights to possess,
        control and monitor the Mortgage Loan, except for the purposes of servicing
        the
        Mortgage Loan as set forth in this Agreement. After the related Closing Date,
        the Company will not have any right to modify or alter the terms of the sale
        of
        the Mortgage Loan and the Company will not have any obligation or right to
        repurchase the Mortgage Loan or substitute another Mortgage Loan, except
        as
        provided in this Agreement, or as otherwise agreed to by the Company and
        the
        Purchaser;

      

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      (m)
        Each
        Mortgage Loan is covered by an ALTA lender's title insurance policy or other
        generally acceptable form of policy or insurance acceptable to Fannie Mae
        or
        FHLMC (including adjustable rate endorsements), issued by a title insurer
        acceptable to Fannie Mae or FHLMC and qualified to do business in the
        jurisdiction where the Mortgaged Property is located, insuring (subject to
        the
        exceptions contained in (j)(1), (2) and (3) above) the Company, its successors
        and assigns, as to the first priority lien of the Mortgage in the original
        principal amount of the Mortgage Loan and 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 and Monthly
        Payment. Where required by state law or regulation, the Mortgagor has been
        given
        the opportunity to choose the carrier of the required mortgage title insurance.
        The Company, its successors and assigns, is the sole insured of such lender's
        title insurance policy, such title insurance policy has been duly and validly
        endorsed to the Purchaser or the assignment to the Purchaser of the Company's
        interest therein does not require the consent of or notification to the insurer
        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. No claims have been made under such lender's title insurance
        policy, and no prior holder or servicer of the related Mortgage, including
        the
        Company, nor any Mortgagor, has done, by act or omission, anything which
        would
        impair the coverage of such lender's title insurance policy;

      

      (n)
        There
        is no default, breach, violation or event of acceleration existing under
        the
        Mortgage or the related Mortgage Note and no event which, with the passage
        of
        time or with notice and the expiration of any grace or cure period, and to
        the
        knowledge of the Company, would constitute a default, breach, violation or
        event
        permitting acceleration; and neither the Company, nor any prior mortgagee
        has
        waived any default, breach, violation or event permitting
        acceleration;

      

      (o)
        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 law could give
        rise
        to such liens) affecting the related Mortgaged Property which are or may
        be
        liens prior to or equal to the lien of the related Mortgage;

      

      (p)
        All
        improvements subject to the Mortgage which were considered in determining
        the
        Appraised Value of the Mortgaged Property lie wholly within the boundaries
        and
        building restriction lines of the Mortgaged Property (and wholly within the
        project with respect to a condominium unit) and no improvements on adjoining
        properties encroach upon the Mortgaged Property except those which are insured
        against by the title insurance policy referred to in clause (m) above and
        all
        improvements on the property comply with all applicable zoning and subdivision
        laws and ordinances;

      

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      (q)
        Each
        Mortgage Loan was originated by or for the Company pursuant to, and conforms
        with, the Company’s underwriting guidelines attached as Exhibit H hereto. The
        Mortgage Loan bears interest at an adjustable rate (if applicable) as set
        forth
        in the related Mortgage Loan Schedule, and Monthly Payments under the Mortgage
        Note are due and payable on the first day of each month. The Mortgage contains
        the usual and enforceable provisions of the Company at the time of origination
        for the acceleration of the payment of the unpaid principal amount of the
        Mortgage Loan if the related Mortgaged Property is sold without the prior
        consent of the mortgagee thereunder;

      

      (r)
        The
        Mortgaged Property is not subject to any material damage. At origination
        of the
        Mortgage Loan there was not, since origination of the Mortgage Loan there
        has
        not been, and there currently is no proceeding pending for the total or partial
        condemnation of the Mortgaged Property. The Company has not received
        notification that any such proceedings are scheduled to commence at a future
        date;

      

      (s)
        The
        related 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, (1) in the case of a Mortgage designated as a deed of trust, by
        trustee's sale, and (2) otherwise by judicial foreclosure. There is no homestead
        or other exemption available to the Mortgagor which would interfere with
        the
        right to sell the Mortgaged Property at a trustee's sale or the right to
        foreclose the Mortgage;

      

      (t)
        If
        the Mortgage constitutes a deed of trust, a trustee, authorized and duly
        qualified if required under applicable law to act as such, has been properly
        designated and currently so serves and is named in the Mortgage, and no fees
        or
        expenses, except as may be required by local law, are or will become payable
        by
        the Purchaser to the trustee under the deed of trust, except in connection
        with
        a trustee's sale or attempted sale after default by the Mortgagor;

      

      (u)
        The
        Mortgage File contains an appraisal, if required, of the related Mortgaged
        Property signed prior to the final approval of the mortgage loan application
        by
        a Qualified Appraiser, approved by the Company, 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 appraiser both satisfy the requirements
        of
        Fannie Mae or FHLMC and Title XI of the Federal Institutions Reform, Recovery,
        and Enforcement Act of 1989 and the regulations promulgated thereunder, all
        as
        in effect on the date the Mortgage Loan was originated. The appraisal is
        in a
        form acceptable to Fannie Mae or FHLMC;

      

      (v)
        All
        parties which have had any interest in the Mortgage, whether as mortgagee,
        assignee, pledgee or otherwise, are (or, during the period in which they
        held
        and disposed of such interest, were) (A) in compliance with any and all
        applicable licensing requirements of the laws of the state wherein the Mortgaged
        Property is located, and (B) (1) organized under the laws of such state,
        or (2)
        qualified to do business in such state, or (3) federal savings and loan
        associations or national banks or a Federal Home Loan Bank or savings bank
        having principal offices in such state, or (4) not doing business in such
        state;

      

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      (w)
        The
        related Mortgage Note is not and has not been secured by any collateral except
        the lien of the corresponding Mortgage and the security interest of any
        applicable security agreement or chattel mortgage referred to above and such
        collateral does not serve as security for any other obligation;

      

      (x)
        The
        Mortgagor has received and has executed, where applicable, all disclosure
        materials required by applicable law with respect to the making of such mortgage
        loans;

      

      (y)
        The
        Mortgage Loan does not contain balloon or "graduated payment" features; No
        Mortgage Loan is subject to a buydown agreement or contains any buydown
        provision;

      

      (z)
        The
        Mortgagor is not in bankruptcy and, the Mortgagor is not insolvent and the
        Company has no knowledge of any circumstances or conditions 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 marketability of
        the
        Mortgage Loan;

      

      (aa)
        Each
        Mortgage Loan bears interest based upon a thirty (30) day month and a three
        hundred and sixty (360) day year. The Mortgage Loans have an original term
        to
        maturity of not more than thirty (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 Margin; provided, that the Mortgage
        Interest Rate, on each applicable Adjustment Date, will not increase by more
        than the Initial Rate Cap or Periodic Rate Cap, as applicable. Over the term
        of
        each adjustable rate Mortgage Loan, the Mortgage Interest Rate will not exceed
        such Mortgage Loan's Lifetime Rate Cap. Each 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 first 10 years from
        origination, and after the first 10 years from origination, 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 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.
        None
        of the Mortgage Loans contain a conversion feature which would cause the
        Mortgage Loan interest rate to convert to a fixed interest rate. None of
        the
        Mortgage Loans are considered agricultural loans; 

      

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      (bb)
        (INTENTIONALLY LEFT BLANK)

      

      (cc)
        (INTENTIONALLY LEFT BLANK)

      

      (dd)
        (INTENTIONALLY LEFT BLANK)

       

      (ee)
        (INTENTIONALLY LEFT BLANK) 

      

      (ff)
        (INTENTIONALLY LEFT BLANK)

      

      (gg)
        (INTENTIONALLY LEFT BLANK)

      

      (hh) In
        the
        event the Mortgage Loan had an LTV at origination greater than 80.00%, the
        excess of the principal balance of the Mortgage Loan over 75.0% of the Appraised
        Value of the Mortgaged Property with respect to a Refinanced Mortgage Loan,
        or
        the lesser of the Appraised Value or the purchase price of the Mortgaged
        Property with respect to a purchase money Mortgage Loan was insured as to
        payment defaults by a Primary Mortgage Insurance Policy issued by a Qualified
        Insurer. No Mortgage Loan has an LTV over 95%. 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.
        No
        Mortgage Loan requires payment of such premiums, in whole or in part, by
        the
        Purchaser. No action, inaction, or event has occurred and no state of facts
        known to the Company exists that has, or will result in the exclusion from,
        denial of, or defense to coverage. Any Mortgage Loan subject to a Primary
        Mortgage Insurance Policy obligates the Mortgagor thereunder to maintain
        the
        Primary Mortgage Insurance Policy, subject to state and federal law, and
        to pay
        all premiums and charges in connection therewith. No action has been taken
        or
        failed to be taken, on or prior to the Closing Date which has resulted or
        will
        result in an exclusion from, denial of, or defense to coverage under any
        Primary
        Mortgage Insurance Policy (including, without limitation, any exclusions,
        denials or defenses which would limit or reduce the availability of the timely
        payment of the full amount of the loss otherwise due thereunder to the insured)
        whether arising out of actions, representations, errors, omissions, negligence,
        or fraud of the Company or the Mortgagor, or for any other reason under such
        coverage. The mortgage interest rate for the Mortgage Loan as set forth on
        the
        related Mortgage Loan Schedule is net of any such insurance premium. Any
        Mortgage Loan subject to a Lender Primary Mortgage Insurance Policy obligates
        the Company to maintain the Lender Primary Insurance Policy and to pay all
        premiums and charges in connection therewith;

      

      (ii) The
        Assignment is in recordable form and is acceptable for recording under the
        laws
        of the jurisdiction in which the Mortgaged Property is located;

      

      
        
          
          

        

        
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      (jj) Unless
        otherwise indicated on the Mortgage Loan Schedule, none of the Mortgage Loans
        are secured by an interest in a leasehold estate. The Mortgaged Property
        is
        located in the state identified in the related Mortgage Loan Schedule and
        consists of a single parcel of real property or contiguous parcels bearing
        one
        legal description and tax assessment number with a detached single family
        residence erected thereon, or a townhouse, or a two-to-four family dwelling,
        or
        an individual condominium unit in a condominium project, or an individual
        unit
        in a planned unit development or a de minimis planned unit development,
        provided, however, that no residence or dwelling is a single parcel of real
        property with a manufactured home not affixed to a permanent foundation,
        or a
        mobile home. Any
        condominium unit or planned unit development conforms with the Company’s
        underwriting guidelines. As
        of the
        date of origination, no portion of any Mortgaged Property is used for commercial
        purposes, and since the Origination Date to the best of the Company’s knowledge,
        no portion of any Mortgaged Property has been, or currently is, used for
        commercial purposes;

      

      (kk) Monthly
        Payments on the Mortgage Loan commenced no more than sixty (60) days after
        the
        funds were disbursed in connection with the Mortgage Loan. The Mortgage Note
        is
        payable on the first day of each month in monthly installments of principal,
        if
        applicable, and interest, which installments are subject to change due to
        the
        adjustments to the Mortgage Interest Rate on each Adjustment Date, with interest
        calculated and payable in arrears;

      

      (ll) As
        of the
        Closing Date of the Mortgage Loan, the Mortgage Property was lawfully occupied
        under applicable law, and 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;

      

      (mm) There
        is
        no pending action or proceeding directly involving the Mortgaged Property
        in
        which compliance with any environmental law, rule or regulation is an issue;
        there is no violation of any environmental law, rule or regulation with respect
        to the Mortgaged Property; and the Company has not received any notice of
        any
        environmental hazard on the Mortgaged Property and 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) The
        Mortgagor has not notified the Company, and the Company has no knowledge
        of any
        relief requested or allowed to the Mortgagor under the Soldiers' and Sailors'
        Civil Relief Act of 1940;

      

      (oo)
         No
        Mortgage Loan is a construction or rehabilitation Mortgage Loan or was made
        to
        facilitate the trade-in or exchange of a Mortgaged Property;

      

      (pp) The
        Mortgagor for each Mortgage Loan is a natural person or an Illinois land
        trust
        or an inter vivos revocable trust acceptable to Fannie Mae and/or Freddie
        Mac;

      

      
        
          
          

        

        
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      (qq) None
        of
        the Mortgage Loans are Co-op Loans; 

      

      (rr)
         With
        respect to each Mortgage Loan that has a prepayment penalty feature, each
        such
        prepayment penalty is enforceable and will be enforced by the Company and
        each
        prepayment penalty is permitted pursuant to federal, state and local law.
        No
        Mortgage Loan will impose a prepayment penalty for a term in excess of five
        years from the date such Mortgage Loan was originated. Except as otherwise
        set
        forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan that
        contains a prepayment penalty, 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;

      

      (ss)
         With
        respect to each Mortgage Loan either (i) the fair market value of the Mortgaged
        Property securing such Mortgage Loan was at least equal to 80 percent of
        the
        original principal balance of such Mortgage Loan at the time such Mortgage
        Loan
        was originated or (ii) (a) the Mortgage Loan is only secured by the Mortgage
        Property and (b) substantially all of the proceeds of such Mortgage Loan
        were
        used to acquire or to improve or protect the Mortgage Property. For the purposes
        of the preceding sentence, if the Mortgage Loan has been significantly modified
        other than as a result of a default or a reasonable foreseeable default,
        the
        modified Mortgage Loan will be viewed as having been originated on the date
        of
        the modification;

      

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

      

      (uu)
        None
        of the Mortgage Loans are simple interest Mortgage Loans and none of the
        Mortgaged Properties are timeshares; 

      

      (vv)
        All
        of the terms of the Mortgage pertaining to interest rate adjustments, payment
        adjustments and adjustments of the outstanding principal balance are
        enforceable, all such adjustments have been properly made, including the
        mailing
        of required notices, and such adjustments do not and will not affect the
        priority of the Mortgage lien. With respect to each Mortgage Loan which has
        passed its initial Adjustment Date, Company has performed an audit of the
        Mortgage Loan to determine whether all interest rate adjustments have been
        made
        in accordance with the terms of the Mortgage Note and Mortgage; and

      

      (ww)
        Each
        Mortgage Note, each Mortgage, each Assignment and any other documents required
        pursuant to this Agreement to be delivered to the Purchaser or its designee,
        or
        its assignee for each Mortgage Loan, have been, on or before the related
        Closing
        Date, delivered to the Purchaser or its designee, or its assignee.

      

      Section
        3.03 Repurchase;
        Substitution.

      

      
        
          
          

        

        
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      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 and delivery
        of the Mortgage Loan Documents to the Purchaser, or its designee, and shall
        inure to the benefit of the Purchaser, notwithstanding any restrictive or
        qualified endorsement on any Mortgage Note or Assignment or the examination,
        or
        lack of examination, of any 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 in any Mortgage Loan, the party
        discovering such breach shall give prompt written notice to the other. The
        Company shall have a period of sixty (60) days from the earlier of its discovery
        or its receipt of notice of any such breach within which to correct or cure
        such
        breach. The Company hereby covenants and agrees that if any such breach is
        not
        corrected or cured within such sixty day period, the Company shall, at the
        Purchaser's option and not later than ninety (90) days of its discovery or
        its
        receipt of notice of such breach, repurchase such Mortgage Loan at the
        Repurchase Price or, with the Purchaser's prior consent and at Purchaser’s sole
        option, substitute a Mortgage Loan as provided below. In the event that any
        such
        breach shall involve any representation or warranty set forth in Section
        3.01,
        and such breach is not cured within sixty (60) days of the earlier of either
        discovery by or notice to the Company of such breach, all Mortgage Loans
        shall,
        at the option of the Purchaser, be repurchased by the Company at the Repurchase
        Price. Any such repurchase shall be accomplished by wire transfer of immediately
        available funds to Purchaser in the amount of the Repurchase Price.

      

      If
        the
        Company is required to repurchase any Mortgage Loan pursuant to this Section
        3.03, the Company may, with the Purchaser's prior consent and at Purchaser’s
        sole option, within ninety (90) days from the related Closing Date, remove
        such
        defective Mortgage Loan from the terms of this Agreement and substitute another
        mortgage loan for such defective Mortgage Loan, in lieu of repurchasing such
        defective Mortgage Loan. Any substitute Mortgage Loan is subject to Purchaser
        acceptability. Any substituted Loans will comply with the representations
        and
        warranties set forth in this Agreement as of the substitution date

      

      The
        Company shall amend the related Mortgage Loan Schedule to reflect the withdrawal
        of the removed Mortgage Loan from this Agreement and the substitution of
        such
        substitute Mortgage Loan therefor. Upon such amendment, the Purchaser shall
        review the Mortgage File delivered to it relating to the substitute Mortgage
        Loan. 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
        Purchaser 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 Company. The principal payment on a
        substitute Mortgage Loan due on the Due Date in the month of substitution
        shall
        be the property of the Company and the principal payment on the Mortgage
        Loan
        for which the substitution is made due on such date shall be the property
        of the
        Purchaser.

      

      
        
          
          

        

        
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      It
        is
        understood and agreed that the obligation of the Company set forth in this
        Section 3.03 to cure, repurchase or substitute for a defective Mortgage Loan,
        and to indemnify Purchaser pursuant to Section 8.01, constitute the sole
        remedies of the Purchaser respecting a breach of the foregoing representations
        and warranties. If the Company fails to repurchase or substitute for a defective
        Mortgage Loan in accordance with this Section 3.03, or fails to cure a defective
        Mortgage Loan to Purchaser's reasonable satisfaction in accordance with this
        Section 3.03, or to indemnify Purchaser pursuant to Section 8.01, that failure
        shall be an Event of Default and the Purchaser shall be entitled to pursue
        all
        remedies available in this Agreement as a result thereof. No provision of
        this
        paragraph shall affect the rights of the Purchaser to terminate this Agreement
        for cause, as set forth in Sections 10.01 and 11.01.

      

      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) the earlier of discovery of such breach by the
        Company or notice thereof by the Purchaser to the Company, (ii) failure 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 that any Mortgage Loan is held by a REMIC, notwithstanding any contrary
        provision of this Agreement, with respect to any Mortgage Loan that is not
        in
        default or as to which no default is imminent, no substitution pursuant to
        Subsection 3.03 shall be made after the applicable REMIC's "start up day"
        (as
        defined in Section 860G(a) (9) of the Code), unless the Company has obtained
        an
        Opinion of Counsel to the effect that such substitution will not (i) result
        in
        the imposition of taxes on "prohibited transactions" of such REMIC (as defined
        in Section 860F of the Code) or otherwise subject the REMIC to tax, or (ii)
        cause the REMIC to fail to qualify as a REMIC at any time.

      

      Section
        3.04 Representations
        and Warranties of the Purchaser.

       

      The
        Purchaser represents, warrants and convenants to the Company that, as of
        the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Purchaser is a corporation, dully organized validly existing and in good
        standing under the laws of the State of Delaware 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 except or not required under applicable
        law
        to effect such qualification or license;

      

      (b) The
        Purchaser has full power and authority to hold each Mortgage Loan, to purchase
        each Mortgage Loan pursuant to this Agreement and the related Term Sheet
        and to
        execute, deliver and perform, and to enter into and consummate all transactions
        contemplated by this Agreement and the related Term Sheet and to conduct
        its
        business as presently conducted, has duly authorized the execution, delivery
        and
        performance of this Agreement and the related Term Sheet, has duly executed
        and
        delivered this Agreement and the related Term Sheet;

      

      
        
          
          

        

        
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      (c) None
        of
        the execution and delivery of this Agreement and the related Term Sheet,
        the
        purchase of the Mortgage Loans, the consummation of the transactions
        contemplated hereby, or the fulfillment of or compliance with the terms and
        conditions of this Agreement and the related Term Sheet will conflict with
        any
        of the terms, conditions or provisions of the Purchaser’s charter 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 Purchaser
        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 Purchaser
        or
        its property is subject;

      

      (d) There
        is
        no litigation pending or to the best of the Purchaser’s knowledge, threatened
        with respect to the Purchaser which is reasonably likely to have a material
        adverse effect on the purchase of the related Mortgage Loans, the execution,
        delivery or enforceability of this Agreement and the related Term Sheet,
        or
        which is reasonably likely to have a material adverse effect on the financial
        condition of the Purchaser;

      

      (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 Purchaser
        of
        or compliance by the Purchaser with this Agreement and the related Term Sheet,
        the purchase of the Mortgage Loans or the consummation of the transactions
        contemplated by this Agreement and the related Term Sheet except for consents,
        approvals, authorizations and orders which have been obtained;

      

      (f) The
        consummation of the transactions contemplated by this Agreement and the related
        Term Sheet is in the ordinary course of business of the Purchaser;

      

      (h) The
        Purchaser will treat the purchase of the Mortgage Loans from the Company
        as a
        purchase for reporting, tax and accounting purposes; and

      

      (i) The
        Purchaser does not believe, nor does it have any cause or reason to believe,
        that it cannot perform each and every of its covenants contained in this
        Agreement and the related Term Sheet.

      

      The
        Purchaser shall indemnify the Company and hold it harmless against any claims,
        proceedings, losses, damages, penalties, fines, forfeitures, reasonable and
        necessary legal fees and related costs, judgments, and other costs and expenses
        resulting from a breach by the Purchaser of the representations and warranties
        contained in this Section 3.04. It is understood and agreed that the obligations
        of the Purchaser set forth in this Section 3.04 to indemnify the Seller as
        provided herein constitute the sole remedies of the Seller respecting a breach
        of the foregoing representations and warranties.

      

      
        
          
          

        

        
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      ARTICLE
        IV

      

      ADMINISTRATION
        AND SERVICING OF MORTGAGE LOANS

      

      Section
        4.01 Company
        to Act as Servicer.

      

      The
        Company, as independent contract servicer, shall service and administer the
        Mortgage Loans in accordance with this Agreement and with Accepted Servicing
        Practices, 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 Company may deem necessary or desirable and consistent
        with the terms of this Agreement and with Accepted Servicing Practices and
        exercise the same care that it customarily employs for its own account. Except
        as set forth in this Agreement, the Company shall service the Mortgage Loans
        in
        strict compliance with the servicing provisions of the Fannie Mae Guides
        (special servicing option), 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 mortgage
        impairment insurance, the maintenance of fidelity bond and errors and omissions
        insurance, inspections, the restoration of Mortgaged Property, the maintenance
        of Primary Mortgage Insurance Policies and Lender Primary Mortgage Insurance
        Policies, insurance claims, the title, management and disposition 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 Files, 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 the related Term Sheet and any of the servicing provisions
        of the Fannie Mae Guides, the provisions of this Agreement shall control
        and be
        binding upon the Purchaser and the Company. 

      

      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 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 unless 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 for more than ninety (90) days or
        forgive any 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 Purchaser and 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 4.04, 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 pursuant to
        Section 4.05. Without limiting the generality of the foregoing, the Company
        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. Notwithstanding
        anything herein to the contrary, the Company may not enter into a forbearance
        agreement or similar arrangement with respect to any Mortgage Loan which
        runs
        more than one hundred eighty (180) days after the first delinquent Due Date.
        Any
        such agreement shall be approved by Purchaser and, if required, by the Primary
        Mortgage Insurance Policy insurer and Lender Primary Mortgage Insurance Policy
        insurer, if required. 

      

      
        
          
          

        

        
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      Notwithstanding
        anything in this Agreement to the contrary, if any Mortgage Loan becomes
        subject
        to a Pass-Through Transfer, the Company (a) with respect to such Mortgage
        Loan,
        shall not permit any modification with respect to such Mortgage Loan that
        would
        change the Mortgage Interest Rate and (b) shall not (unless the Mortgagor
        is in
        default with respect to such 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 such 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) or (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 subject to a Pass-Through
        Transfer, which is not contemplated under the terms of this Agreement, the
        Company will obtain an Opinion of Counsel acceptable to the trustee in such
        Pass-Through Transfer 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 Company shall not take any such
        actions 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 any REMIC. The Company 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.

      

      In
        servicing and administering the Mortgage Loans, the Company shall employ
        Accepted Servicing Practices, giving due consideration to the Purchaser's
        reliance on the Company. Unless a different time period is stated in this
        Agreement or the related Term Sheet, Purchaser shall be deemed to have given
        consent in connection with a particular matter if Purchaser does not
        affirmatively grant or deny consent within five (5) Business Days from the
        date
        Purchaser receives a second written request for consent for such matter from
        Company as servicer. 

      

      
        
          
          

        

        
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      The
        Mortgage Loans may be subserviced by a Subservicer on behalf of the Company
        provided that the Subservicer is an entity that engages in the business of
        servicing loans, and in either case shall be authorized to transact business,
        and licensed to service mortgage loans, in the state or states where the
        related
        Mortgaged Properties it is to service are situated, if and to the extent
        required by applicable law to enable the Subservicer to perform its obligations
        hereunder and under the Subservicing Agreement, and in either case shall
        be a
        FHLMC or Fannie Mae approved mortgage 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 Fannie Mae or FHLMC,
        or
        which would require notification to Fannie Mae or FHLMC. In addition, each
        Subservicer will obtain and preserve its qualifications to do business as
        a
        foreign corporation and its licenses to service mortgage loans, in each
        jurisdiction in which such qualifications and/or licenses are or shall be
        necessary to protect the validity and enforceability of this Agreement, or
        any
        of the Mortgage Loans and to perform or cause to be performed its duties
        under
        the related Subservicing Agreement. 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.
        Company
        shall notify Purchaser promptly in writing upon the appointment of any
        Subservicer.

      

      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 4.13, 8.04, 9.01 or 10.01 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 effective as of the date
        of
        termination of the Company. 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. The Company will indemnify and hold Purchaser harmless from
        any
        loss, liability or expense arising out of its use of a Subservicer to perform
        any of its servicing duties, responsibilities and obligations
        hereunder.

      

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      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 Collection
        of Mortgage Loan Payments.

      

      Continuously
        from the date hereof until the date each Mortgage Loan ceases to be subject
        to
        this Agreement, the Company will proceed diligently 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, Accepted
        Servicing Practices, and the terms and provisions of any related Primary
        Mortgage Insurance Policy and Lender 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
        Company will take special care in ascertaining and estimating annual escrow
        payments, and all other charges that, as provided in the Mortgage, will become
        due and payable, so that the installments payable by the Mortgagors will
        be
        sufficient to pay such charges as and when they become due and
        payable.

      

      In
        no
        event will the Company waive its right to any prepayment penalty or premium
        without the prior written consent of Purchaser and Company will use diligent
        efforts to collect same when due except as otherwise provided in the prepayment
        penalty rider to the Mortgage. 

      

      Section
        4.03 Realization
        Upon Defaulted Mortgage

      

      
        
          
          

        

        
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      The
        Company shall use its best efforts, consistent with the procedures that the
        Company would use in servicing loans for its own account, consistent with
        Accepted Servicing Practices, any Primary Mortgage Insurance Policies and
        Lender
        Primary Mortgage Insurance Policies and the best interest of Purchaser, 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. Foreclosure or comparable proceedings
        shall
        be initiated within ninety (90) days of default for Mortgaged Properties
        for
        which no satisfactory arrangements can be made for collection of delinquent
        payments, subject to state and federal law and regulation. The Company shall
        use
        its best efforts to realize upon defaulted Mortgage Loans in such manner
        as will
        maximize the receipt of principal and interest by the Purchaser, taking into
        account, among other things, the timing of foreclosure proceedings. The
        foregoing is subject to the provisions that, in any case in which a Mortgaged
        Property shall have suffered damage, the Company 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 Purchaser after reimbursement
        to
        itself for such expenses, and (ii) that such expenses will be recoverable
        by the
        Company through Insurance Proceeds, Condemnation Proceeds, REO Disposition
        Proceeds or Liquidation Proceeds from the related Mortgaged Property, as
        contemplated in Section 4.05. Company shall obtain prior approval of Purchaser
        as to repair or restoration expenses in excess of ten thousand dollars
        ($10,000). The Company shall notify the Purchaser in writing of the commencement
        of foreclosure proceedings and not less than five (5) days prior to the
        acceptance or rejection of any offer of reinstatement. The Company shall
        be
        responsible for all costs and expenses incurred by it in any such proceedings
        or
        functions; provided, however, that it shall be entitled to reimbursement
        thereof
        from the related 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 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 at the
        Purchaser's expense. 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. 

      

      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any Mortgage Loan which
        becomes ninety (90) days or greater delinquent in payment of a scheduled
        Monthly
        Payment, without payment of any termination fee with respect thereto, provided
        that the Company shall on the date said termination takes effect be reimbursed
        for any unreimbursed advances of the Company's funds made pursuant to Section
        5.03 and any unreimbursed Servicing Advances and Servicing Fees in each case
        relating to the Mortgage Loan underlying such delinquent Mortgage Loan
        notwithstanding anything to the contrary set forth in Section 4.05. In the
        event
        of any such termination, the provisions of Section 11.01 hereof shall apply
        to
        said termination and the transfer of servicing responsibilities with respect
        to
        such delinquent Mortgage Loan to the Purchaser or its designee.

      

      
        
          
          

        

        
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      In
        the
        event that a Mortgage Loan becomes part of a REMIC, and becomes REO Property,
        such property shall be disposed of by the Company, with the consent of Purchaser
        as required pursuant to this Agreement, before the close of the third taxable
        year following the taxable year in which the Mortgage Loan became an REO
        Property, unless the Company provides to the trustee under such REMIC an
        opinion
        of counsel to the effect that the holding of such REO Property subsequent
        to the
        close of the third taxable year following the taxable year in which the Mortgage
        Loan became an REO Property, will not result in the imposition of taxes on
        "prohibited transactions" as defined in Section 860F of the Code, or cause
        the
        transaction to fail to qualify as a REMIC at any time that certificates are
        outstanding. Company shall manage, conserve, protect and operate each such
        REO
        Property for the certificateholders solely for the purpose of its prompt
        disposition and sale in a manner which does not cause such property to fail
        to
        qualify as "foreclosure property" within the meaning of Section 860F(a)(2)(E)
        of
        the Code, or any "net income from foreclosure property" which is subject
        to
        taxation under the REMIC provisions of the Code. Pursuant to its efforts
        to sell
        such property, the Company shall either itself or through an agent selected
        by
        Company, protect and conserve such property in the same manner and to such
        an
        extent as is customary in the locality where such property is located.
        Additionally, Company shall perform the tax withholding and reporting related
        to
        Sections 1445 and 6050J of the Code 

      

      Section
        4.04 Establishment
        of Custodial Accounts; Deposits inCustodial Accounts.

      

      The
        Company 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. The
        Custodial Account shall be an Eligible Account. Funds ,deposited in the
        Custodial Account shall at all times be insured by the FDIC up to the FDIC
        insurance limits, or must be invested in Permitted Investments for the benefit
        of the Purchaser. 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 letter agreement in the form shown in Exhibit
        B
        hereto. The original of such letter agreement shall be furnished to the
        Purchaser on the Closing Date, and upon the request of any subsequent
        Purchaser.

      

      The
        Company shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Custodial Account or Accounts no later than 48 hours after receipt of
        funds,
        and retain therein the following payments and collections received or made
        by it
        subsequent to the Cut-off Date, or received by it prior to the Cut-off Date
        but
        allocable to a period subsequent thereto, other than in respect of principal
        and
        interest on the Mortgage Loans due on or before the Cut-off Date:

      

      (i) all
        payments on account of principal, including Principal Prepayments and related
        penalties, on the Mortgage Loans;

      

      (ii)
        all
        payments on account of interest on the Mortgage Loans adjusted to the Mortgage
        Loan Remittance Rate;

      

      (iii)
        all
        Net Liquidation Proceeds;

      

      (iv)
        any
        amounts required to be deposited by the Company in connection with any REO
        Property pursuant to Section 4.13 and in connection therewith, the Company
        shall
        provide the Purchaser with written detail itemizing all of such
        amounts;

      

      
        
          
          

        

        
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      (v)
        all
        Insurance Proceeds including amounts required to be deposited pursuant to
        Sections 4.08, 4.10 and 4.11, 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 Accepted Servicing Practices,
        the
        Mortgage Loan Documents or applicable law;

      

      (vi)
        all
        Condemnation Proceeds affecting any Mortgaged Property which are not released
        to
        the Mortgagor in accordance with Accepted Servicing Practices, the loan
        documents or applicable law;

      

      (vii)
        any
        Monthly Advances;

      

      (viii)
        with respect to each full or partial Principal Prepayment, any Prepayment
        Interest Shortfalls, to the extent of the Company’s aggregate Servicing Fee
        received with respect to the related Prepayment Period;

      

      (ix)
        any
        amounts required to be deposited by the Company pursuant to Section 4.10
        in
        connection with the deductible clause in any blanket hazard insurance policy,
        such deposit shall be made from the Company's own funds, without reimbursement
        therefor; and

      

      (x)
        any
        amounts required to be deposited in the Custodial Account pursuant to Section
        4.01, 4.13 or 6.02.

      

      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 Company
        in
        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 (iv). The Purchaser shall not
        be
        responsible for any losses suffered with respect to investment of funds in
        the
        Custodial Account.

      

      Section
        4.05 Permitted
        Withdrawals From the Custodial Account.

      

      The
        Company may, from time to time, withdraw 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;

      

      
        
          
          

        

        
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      (ii)
        to
        reimburse itself for Monthly Advances, 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 collections (net of the related Servicing
        Fees) of principal and/or interest respecting which any such advance was
        made,
        it being understood that, in the case of such reimbursement, the Company's
        right
        thereto shall be prior to the rights of the Purchaser, except that, where
        the
        Company is required to repurchase a Mortgage Loan, pursuant to Section 3.03,
        the
        Company's right to such reimbursement shall be subsequent to the payment
        to the
        Purchaser of the Repurchase Price pursuant to such Section 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 any unpaid Servicing
        Fees(or REO administration fees described in Section 4.13), the Company's
        right
        to reimburse itself pursuant to this subclause (iii) with respect to any
        Mortgage Loan being limited to related proceeds from Liquidation Proceeds,
        Condemnation Proceeds and Insurance Proceeds in accordance with the relevant
        provisions of the Fannie Mae Guides or as otherwise set forth in this Agreement;
        any recovery shall be made upon liquidation of the REO Property; 

      

      (iv) to
        pay to
        itself as part of its 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), (b) the Servicing Fee from that portion of any payment
        or
        recovery as to interest with respect to a particular Mortgage Loan;

      

      (v) to
        pay to
        itself with respect to each Mortgage Loan that has been repurchased pursuant
        to
        Section 3.03 all amounts received thereon and not distributed as of the date
        on
        which the related repurchase price is determined,

      

      (vi) to
        transfer funds to another Eligible Account in accordance with Section 4.09
        hereof;

      

      (vii)to
        remove funds inadvertently placed in the Custodial Account by the Company;
        

      

      (vi) to
        clear
        and terminate the Custodial Account upon the termination of this Agreement;
        and

      

      (vii)
        to
        reimburse itself for any Nonrecoverable Advances.

      

      Section
        4.06 Establishment
        of Escrow Accounts; Deposits
        in Escrow Accounts.

      

      The
        Company 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. The Escrow Account shall be an Eligible Account. Funds
        deposited in each Escrow Account shall at all times be insured in a manner
        to
        provide maximum insurance under the insurance limitations of the FDIC, or
        must
        be invested in Permitted Investments. 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
        letter agreement in the form shown in Exhibit C. The original of such letter
        agreement shall be furnished to the Purchaser on the Closing Date, and upon
        request to any subsequent purchaser.

      

      
        
          
          

        

        
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      The
        Company shall deposit in a mortgage clearing account on a daily basis, and
        in
        the Escrow Account or Accounts no later than 48 hours 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 such items as 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
        Company shall make withdrawals from the Escrow Account only to effect such
        payments as are required under this Agreement, and for such other purposes
        as
        shall be as set forth or in accordance with Section 4.07. The Company shall
        be
        entitled to retain any interest paid on funds deposited in the Escrow Account
        by
        the depository institution to the extent permitted by law and, to the extent
        required by law, the Company shall pay interest on escrowed funds to the
        Mortgagor in accordance with applicable law.. The
        Purchaser shall not be responsible for any losses suffered with respect to
        investment of funds in the Escrow Account.

      

      Section
        4.07 Permitted
        Withdrawals From Escrow Account.

      

      Withdrawals
        from the Escrow Account may be made by Company only:

      

      (i) to
        effect
        timely payments of ground rents, taxes, assessments, water rates, Primary
        Mortgage Insurance Policy premiums, if applicable, fire and hazard insurance
        premiums, condominium assessments and comparable items;

      

      (ii) to
        reimburse Company for any Servicing Advance made by Company 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 accordance with the terms of this
        Agreement;

      

      
        
          
          

        

        
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      (v) for
        application to restoration or repair of the Mortgaged Property;

      

      (vi) to
        pay to
        the Company, or to the 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.
        As
        part of its servicing duties, the Company shall pay to the Mortgagors interest
        on funds in 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;
        and

      

      (viii)
        to
        pay to the Mortgagors or other parties Insurance Proceeds deposited in
        accordance with Section 4.06.

      

      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 Company 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 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 Company 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 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 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
        Company will maintain in full force and effect Primary Mortgage Insurance
        Policies or Lender 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 terminated only with the approval of Purchaser,
        or as required by applicable law or regulation. The Company will not cancel
        or
        refuse to renew any Primary Mortgage Insurance Policy or Lender Primary Mortgage
        Insurance Policy in effect on the Closing Date that is required to be kept
        in
        force under this Agreement unless a replacement Primary Mortgage Insurance
        Policy or Lender Primary Mortgage Insurance Policy for such canceled or
        nonrenewed policy is obtained from and maintained with a Qualified Insurer.
        The
        Company shall not take any action which would result in non-coverage under
        any
        applicable Primary Mortgage Insurance Policy or Lender Primary Mortgage
        Insurance 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 Primary Mortgage
        Insurance Policy or Lender 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 or Lender Primary Mortgage Insurance Policy. If such Primary Mortgage
        Insurance Policy or Lender Primary Mortgage Insurance Policy is terminated
        as a
        result of such assumption or substitution of liability, the Company shall
        obtain
        a replacement Primary Mortgage Insurance Policy or Lender Primary Mortgage
        Insurance Policy as provided above.

      

      
        
          
          

        

        
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      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
        Private Mortgage Insurance Policy in a timely fashion in accordance with
        the
        terms of such Primary Mortgage Insurance Policy or Lender 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 or Lender
        Primary
        Mortgage Insurance Policy respecting a defaulted Mortgage Loan. Pursuant
        to
        Section 4.04, any amounts collected by the Company under any Primary Mortgage
        Insurance Policy or Lender 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
        Company may transfer the Custodial Account or the Escrow Account to a different
        Eligible Account from time to time. Such transfer shall be made only upon
        obtaining the prior written consent of the Purchaser, which consent will
        not be
        unreasonably withheld.

      

      Section
        4.10 Maintenance
        of Hazard Insurance.

      

      The
        Company shall cause to be maintained for each Mortgage Loan fire and hazard
        insurance with extended coverage as is acceptable to Fannie Mae or FHLMC
        and
        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) an amount such that the proceeds thereof
        shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming
        a co-insurer. If required by the Flood Disaster Protection Act of 1973, as
        amended, each Mortgage Loan shall be covered by a flood insurance policy
        meeting
        the requirements of the current guidelines of the Federal Insurance
        Administration in effect with an insurance carrier acceptable to Fannie Mae
        or
        FHLMC, 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. 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. The Company shall also maintain on each 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, 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 Company 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 Accepted Servicing Practices, 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
        Company of the Mortgagor or maintained on property acquired in respect of
        the
        Mortgage Loan, other than pursuant to this Agreement, the Fannie Mae Guides
        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 Company
        and
        its successors and/or assigns and shall provide for at least thirty (30)
        days
        prior written notice of any cancellation, reduction in the amount or material
        change in coverage to the Company. 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 Qualified
        Insurers.

      

      
        
          
          

        

        
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      Section
        4.11 Maintenance
        of Mortgage Impairment Insurance
        Policy.

      

      In
        the
        event that the Company shall obtain and maintain a blanket policy issued
        by an
        insurer acceptable to Fannie Mae or FHLMC insuring against hazard losses
        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, it
        being
        understood and agreed that such policy may contain a deductible clause, in
        which
        case the Company shall, in the event that there shall not have been maintained
        on the related Mortgaged Property or REO Property a policy complying with
        Section 4.10, and there shall have been a loss which would have been covered
        by
        such policy, deposit in the Custodial Account the amount not otherwise payable
        under the blanket policy because of such deductible clause. In connection
        with
        its activities as servicer of the Mortgage Loans, the Company agrees to prepare
        and present, on behalf of the Purchaser, claims under any such blanket policy
        in
        a timely fashion in accordance with the terms of such policy. Upon request
        of
        the Purchaser, the Company shall cause to be delivered to the Purchaser a
        certified true copy of such policy and shall use its best efforts to obtain
        a
        statement from the insurer thereunder that such policy shall in no event
        be
        terminated or materially modified without thirty (30) days' prior written
        notice
        to the Purchaser.

      

      
        
          
          

        

        
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      Section
        4.12 Fidelity
        Bond, Errors and Omissions Insurance.

      

      The
        Company 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 Loan to handle funds, money, documents and papers
        relating to the Mortgage Loan. The Fidelity Bond 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 and fraud of such persons.
        The
        errors and omissions insurance shall protect and insure the Company against
        losses arising out of errors and omissions and negligent acts of such persons.
        Such errors and omissions insurance shall also protect and insure the Company
        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
        or errors and omissions insurance 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 at least equal to the
        corresponding amounts required by Fannie Mae in the Fannie Mae Guides. Upon
        request by the Purchaser, the Company shall deliver to the Purchaser 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 (30) days' prior
        written notice to the Purchaser. The Company shall notify the Purchaser within
        five (5) business days of receipt of notice that such Fidelity Bond or insurance
        policy will be, or has been, materially modified or terminated. The Purchaser
        (or any party having the status of Purchaser hereunder) and any subsidiary
        thereof and their 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. Upon request by Purchaser, Company shall provide
        Purchaser with an insurance certificate certifying coverage under this Section
        4.12, and will provide an update to such certificate upon request, or upon
        renewal or material modification of coverage.

      

      Section
        4.13 Title,
        Management and Disposition of REO Property.
        

      

      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 designee, or in the event the Purchaser or its
        designee 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
        an
        attorney duly licensed to practice law in the state where the REO Property
        is
        located. Any Person or Persons holding such title other than the Purchaser
        shall
        acknowledge in writing that such title is being held as nominee for the benefit
        of the Purchaser.

      

      
        
          
          

        

        
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      The
        Company shall notify the Purchaser in accordance with the Fannie Mae Guides
        of
        each acquisition of REO Property upon such acquisition (and, in any event,
        shall
        provide notice of the consummation of any foreclosure sale within three (3)
        Business Days of the date Company receives notice of such consummation),
        together with a copy of the drive by appraisal or brokers price opinion of
        the
        Mortgaged Property obtained in connection with such acquisition, and thereafter
        assume the responsibility for marketing such REO property in accordance with
        Accepted Servicing Practices. Thereafter, the Company shall continue to provide
        certain administrative services to the Purchaser relating to such REO Property
        as set forth in this Section 4.13. No Servicing Fee shall be assessed or
        otherwise accrue on any REO Property from and after the date on which it
        becomes
        an REO Property. 

      

      The
        Company shall, either itself or through an agent selected by the Company,
        and in
        accordance with the Fannie Mae Guides 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.
        The
        Company 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 required by the circumstances.
        The Company shall make or cause to be made a written report of each such
        inspection. Such reports shall be retained in the Mortgage File and copies
        thereof shall be forwarded by the Company to 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 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
        longer period than one (1) 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. No
        REO
        Property shall be marketed for less than the Appraised Value, without the
        prior
        consent of Purchaser. No REO Property shall be sold for less than ninety
        five
        percent (95%) of its Appraised Value, without the prior consent of Purchaser.
        All requests for reimbursement of Servicing Advances shall be in accordance
        with
        the Fannie Mae Guides. 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 (subject to the above
        conditions) only with the prior written consent of the Purchaser. Company
        shall
        provide monthly reports to Purchaser in reference to the status of the marketing
        of the REO Properties.

      

      
        
          
          

        

        
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      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any such REO Property without
        payment of any termination fee with respect thereto, provided that the Company
        shall on the date said termination takes effect be reimbursed for any
        unreimbursed advances of the Company's funds made pursuant to Section 5.03
        and
        any unreimbursed Servicing Advances and Servicing Fees in each case relating
        to
        the Mortgage Loan underlying such REO Property notwithstanding anything to
        the
        contrary set forth in Section 4.05. In the event of any such termination,
        the
        provisions of Section 11.01 hereof shall apply to said termination and the
        transfer of servicing responsibilities with respect to such REO Property
        to the
        Purchaser or its designee. Within five (5) Business Days of any such
        termination, the Company shall, if necessary convey such property to the
        Purchaser and shall further provide the Purchaser with the following information
        regarding the subject REO Property: the related drive by appraisal or brokers
        price opinion, and copies of any related Mortgage Impairment Insurance Policy
        claims. In addition, within five (5) Business Days, the Company shall provide
        the Purchaser with the following information regarding the subject REO Property:
        the related trustee’s deed upon sale and copies of any related hazard insurance
        claims, or repair bids.

      

      Section
        4.14 Notification
        of Maturity Date.

      

      With
        respect to each Mortgage Loan, the Company shall execute and deliver to the
        Mortgagor any and all necessary notices required under applicable law and
        the
        terms of the related Mortgage Note and Mortgage regarding the maturity date
        if
        required under applicable law.

      

      ARTICLE
        V

      

      PAYMENTS
        TO THE PURCHASER

      

      Section
        5.01 Distributions.

      

      On
        each
        Remittance Date, the Company shall distribute by wire transfer of immediately
        available funds to the Purchaser (i) all amounts credited to the Custodial
        Account as of the close of business on the preceding Determination Date,
        net of
        charges against or withdrawals from the Custodial Account pursuant to Section
        4.05, plus (ii) all Monthly Advances, if any, which the Company is obligated
        to
        distribute pursuant to Section 5.03, plus, (iii) interest at the Mortgage
        Loan
        Remittance Rate on any Principal Prepayment from the date of such Principal
        Prepayment through the end of the month for which disbursement is made provided
        that the Company’s obligation as to payment of such interest shall be limited to
        the Servicing Fee earned during the month of the distribution, minus (iv)
        any
        amounts attributable to Monthly Payments collected but due on a Due Date
        or
        Dates subsequent to the preceding Determination Date, which amounts shall
        be
        remitted on the Remittance Date next succeeding the Due Period for such amounts.
        It is understood that, by operation of Section 4.04, the remittance on the
        first
        Remittance Date with respect to Mortgage Loans purchased pursuant to the
        related
        Term Sheet is to include principal collected after the Cut-off Date through
        the
        preceding Determination Date plus interest, adjusted to the Mortgage Loan
        Remittance Rate collected through such Determination Date exclusive of any
        portion thereof allocable to the period prior to the Cut-off Date, with the
        adjustments specified in clauses (ii), (iii) and (iv) above.

      

      
        
          
          

        

        
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      With
        respect to any remittance received by the Purchaser after the Remittance
        Date,
        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
        two (2) 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.
        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. On each
        Remittance Date, the Company shall provide a remittance report detailing
        all
        amounts being remitted pursuant to this Section 5.01.

      

      Section
        5.02 Statements
        to the Purchaser.

      

      The
        Company shall furnish to Purchaser an individual loan accounting report,
        as of
        the last Business Day of each month, in the Company's assigned loan number
        order
        to document Mortgage Loan payment activity on an individual Mortgage Loan
        basis.
        With respect to each month, the corresponding individual loan accounting
        report
        shall be received by the Purchaser no later than the tenth calendar day of
        the
        following month on a disk or tape or other computer-readable format in such
        format as may be mutually agreed upon by both Purchaser and Company, and
        no
        later than the fifth Business Day of the following month in hard copy, and
        shall
        contain the following:

      

      (i)
        With
        respect to 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 Monthly Payment, the amount of such remittance allocable
        to
        interest;

      

      (iii)
        the
        amount of servicing compensation received by the Company during the prior
        distribution period;

      

      (iv)
        the
        aggregate Stated Principal Balance of the Mortgage Loans;

      

      (v)
        the
        aggregate of any expenses reimbursed to the Company during the prior
        distribution period pursuant to Section 4.05; 

      

      (vi)
        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

      

      The
        Company shall also provide a trial balance, sorted in Purchaser's assigned
        loan
        number order, in the form of Exhibit E hereto, with each such
        Report.

      

      
        
          
          

        

        
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      The
        Company shall prepare and file any and all information statements or other
        filings required to be delivered to any governmental taxing authority or
        to
        Purchaser pursuant to any applicable law with respect to the Mortgage Loans
        and
        the transactions contemplated hereby. In addition, the Company shall provide
        Purchaser with such information concerning the Mortgage Loans as is necessary
        for Purchaser to prepare its federal income tax return as Purchaser may
        reasonably request from time to time.

      

      In
        addition, not more than sixty (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.

      

      
        
          
          

        

        
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      Section
        5.03 Monthly
        Advances by the Company.

      

      Not
        later
        than the close of business on the Business Day preceding each Remittance
        Date,
        the Company shall deposit in the Custodial Account an amount equal to all
        payments not previously advanced by the Company, whether or not deferred
        pursuant to Section 4.01, of principal (due after the Cut-off Date) and interest
        not allocable to the period prior to the Cut-off Date, adjusted to the Mortgage
        Loan Remittance Rate, which were due on a Mortgage Loan and delinquent at
        the
        close of business on the related Determination Date; provided, however, that
        the
        Company may use the Amount Held for Future Distribution (as defined below)
        then
        on deposit in the Custodial Account to make such Monthly Advances. The Company
        shall deposit any portion of the Amount Held for Future Distribution used
        to pay
        Monthly Advances 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 Purchaser on such Remittance Date are less than the amount of payments
        required to be made to the Purchaser 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 Principal
        Prepayments received or made in the month of such Remittance Date, and (ii)
        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
        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 Remittance Date prior to the date on which
        the
        Mortgaged Property liquidates (including Insurance Proceeds, proceeds from
        the
        sale of REO Property or Condemnation Proceeds) with respect to the Mortgage
        Loan
        unless the Company deems such advance to be nonrecoverable. In such event,
        the
        Company shall deliver to the Purchaser an Officer's Certificate of the Company
        to the effect that an officer of the Company has reviewed the related Mortgage
        File and has made the reasonable determination that any additional advances
        are
        nonrecoverable. 

      

      Section
        5.04 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
        in a
        form mutually acceptable to Company and Purchaser. The Company shall also
        provide reports on the status of REO Property containing such information
        as
        Purchaser may reasonably require.

       

      ARTICLE
        VI

      

      GENERAL
        SERVICING PROCEDURES

      

      
        
          
          

        

        
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      Section
        6.01 Assumption
        Agreements.

      

      The
        Company will, to the extent it has actual knowledge of any conveyance or
        prospective conveyance by any Mortgagor of the 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
        Company 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 or Lender Primary Mortgage Insurance Policy, if any. If the Company
        reasonably believes it is unable under applicable law to enforce such
        "due-on-sale" clause, the Company 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 Company, with the prior consent of the Purchaser and 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 Company
        shall follow the underwriting practices and procedures of the Company. With
        respect to an assumption or substitution of liability, the Mortgage Interest
        Rate borne by the related Mortgage Note, the amount of the Monthly Payment
        and
        the maturity date may not be changed (except pursuant to the terms of the
        Mortgage Note). 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. The Company shall notify the Purchaser that any such
        substitution of liability or assumption agreement has been completed by
        forwarding to the Purchaser the original of any such substitution of liability
        or assumption agreement, which document shall be added to the related Mortgage
        File and shall, for all purposes, be considered a part of such Mortgage File
        to
        the same extent as all other documents and instruments constituting a part
        thereof. All fees collected by the Company for entering into an assumption
        or
        substitution of liability agreement shall belong to the Company.

      

      Notwithstanding
        the foregoing paragraphs of this Section or any other provision of this
        Agreement, the Company 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 Company 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.

      

      
        
          
          

        

        
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      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 will immediately notify the Purchaser by a
        certification, which certification shall include a statement to the effect
        that
        all amounts received or to be received in connection with such payment which
        are
        required to be deposited in the Custodial Account pursuant to Section 4.04
        have
        been or will be so deposited, of a Servicing Officer and shall request delivery
        to it of the portion of the Mortgage File held by the Purchaser. The Purchaser
        shall no later than five (5) Business Days after receipt of such certification
        and request, release or cause to be released to the Company, the related
        Mortgage Loan Documents and, upon its receipt of such documents, the Company
        shall promptly prepare and deliver to the Purchaser the requisite satisfaction
        or release. No later than five (5) Business Days following its receipt of
        such
        satisfaction or release, the Purchaser shall deliver, or cause to be delivered,
        to the Company the release or satisfaction properly executed by the owner
        of
        record of the applicable mortgage or its duly appointed attorney in fact.
        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 Company 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 Purchaser may have under the mortgage
        instruments, the Company, upon written demand, shall remit within two (2)
        Business Days to the Purchaser the then outstanding principal balance of
        the
        related Mortgage Loan by deposit thereof in the Custodial Account. The Company
        shall maintain the Fidelity Bond and errors and omissions insurance 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.

      

      From
        time
        to time and as appropriate for the servicing or foreclosure of the Mortgage
        Loan, including for the purpose of collection under any Primary Mortgage
        Insurance Policy or Lender Primary Mortgage Insurance Policy, the Purchaser
        shall, upon request of the Company and delivery to the Purchaser of a servicing
        receipt signed by a Servicing Officer, release the portion of the Mortgage
        File
        held by the Purchaser to the Company. Such servicing receipt shall obligate
        the
        Company to return the related Mortgage documents to the Purchaser when the
        need
        therefor by the Company 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 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 Company has delivered to the Purchaser 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. Upon receipt of a certificate of a Servicing Officer stating
        that
        such Mortgage Loan was liquidated, the servicing receipt shall be released
        by
        the Purchaser to the Company.

      

      
        
          
          

        

        
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      Section
        6.03 Servicing
        Compensation.

      

      As
        compensation for its services hereunder, the Company shall be entitled to
        withdraw from the Custodial Account (to the extent of interest payments
        collected on the Mortgage Loans) or to retain from interest payments collected
        on the Mortgage Loans, the amounts provided for as the Company's Servicing
        Fee,
        subject to payment of compensating interest on Principal Prepayments as capped
        by the Servicing Fee pursuant to Section 5.01 (iii). Additional servicing
        compensation in the form of assumption fees, as provided in Section 6.01,
        and
        late payment charges or otherwise shall be retained by the Company to the
        extent
        not required to be deposited in the Custodial Account. No Servicing Fee shall
        be
        payable in connection with partial Monthly Payments. 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 therefor
        except
        as specifically provided for.

      

      Section
        6.04 Annual
        Statement as to Compliance.

      

      The
        Company will deliver to the Purchaser and the Master Servicer not later February
        28 of each year beginning in February 2005, an Officers' Certificate stating,
        as
        to each signatory thereof, 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 officers' supervision, and (ii) to the best of such
        officers' knowledge, based on such review, the Company 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 of cure provisions thereof.
        Copies of such statement shall be provided by the Company to the Purchaser
        upon
        request.

      

      Section
        6.05 Annual
        Independent Certified Public Accountants'
        Servicing Report.

      

      On
        or before February 28 of each year beginning February 28, 2005
        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 the Purchaser to the effect that such firm has examined
        certain documents and records relating to the Company'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 the uniform single audit program for mortgage bankers, such
        firm is of the opinion that the Company'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. Copies of
        such
        statement shall be provided by the Company to the Purchaser and the Master
        Servicer. In addition, on an annual basis, Company shall provided Purchaser
        with
        copies of its audited financial statements. 

      

      
        
          
          

        

        
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      Section
        6.06 Purchaser's
        Right to Examine Company Records.

      

      The
        Purchaser shall have the right to examine and audit at its expense upon
        reasonable notice to the Company, 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 Company, or held by another
        for the Company or on its behalf or otherwise, which relates to the performance
        or observance by the Company of the terms, covenants or conditions of this
        Agreement.

      

      The
        Company shall provide to the Purchaser and any supervisory agents or examiners
        representing a state or federal governmental agency having jurisdiction over
        the
        Purchaser, including but not limited to OTS, FDIC and other similar entities,
        access to any documentation regarding the Mortgage Loans in the possession
        of
        the Company 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 Company, and in accordance with
        the
        federal government, FDIC, OTS, or any other similar regulations.

      

      Section
        6.07 Annual
        Certification.

      

      (a) For
        so
        long as the Mortgage Loans are being master serviced by the Master Servicer,
        by
        February 28th of each year (or if not a Business Day, the immediately preceding
        Business Day), or at any other time upon thirty (30) days written request,
        an
        officer of the Company shall execute and deliver an Officer’s Certificate to the
        Purchaser and the Master Servicer for the benefit of the Purchaser and the
        Master Servicer and their officers, directors and affiliates, certifying
        as to
        the following matters:

      

      (i) 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 to the Master Servicer 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;

      

      
        
          
          

        

        
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      (ii) The
        servicing information required to be provided to the Master Servicer by the
        Company under this Agreement has been provided to the Master
        Servicer;

      

      (iii) 
        I am
        responsible for reviewing the activities performed by the Company under the
        Agreement and based upon the review required by this Agreement, and except
        as
        disclosed in the Annual Statement of Compliance or the Annual Independent
        Public
        Accountant’s Servicing Report submitted to the Master Servicer, the Company has,
        as of the date of this certification fulfilled its obligations under this
        Agreement; and

      

      
        	 	
                (iv)

              	
                I
                  have disclosed to the Master Servicer all significant deficiencies
                  relating to the Company’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 Agreement.

              

      

       

      (b) The
        Company shall indemnify and hold harmless the Purchaser and Master Servicer
        and
        their 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 Company or any of its officers, directors, agents or affiliates of its
        obligations under this Section 6.07 or the negligence, bad faith or willful
        misconduct of the Company in connection therewith. If the indemnification
        provided for herein is unavailable or insufficient to hold harmless the
        Purchaser or Master Servicer, then the Company agrees that it shall contribute
        to the amount paid or payable by the Purchaser or Master Servicer as a result
        of
        the losses, claims, damages or liabilities of the Purchaser or Master Servicer
        in such proportion as is appropriate to reflect the relative fault of the
        Purchaser or Master Servicer on the one hand and the Company on the other
        in
        connection with a breach of the Company’s obligations under this Section 6.07 or
        the Company’s negligence, bad faith or willful misconduct in connection
        therewith.

      

      

      ARTICLE
        VII

      

      REPORTS
        TO BE PREPARED BY SERVICER

      

      Section
        7.01 Company
        Shall Provide Information as Reasonably
        Required.

      

      The
        Company shall furnish to the Purchaser during the term of this Agreement,
        such
        periodic, special or other reports, information or documentation, whether
        or not
        provided for herein, as shall be necessary, reasonable or appropriate in
        respect
        to the Purchaser, or otherwise in respect to the Mortgage Loans and the
        performance of the Company under this Agreement, including any reports,
        information or documentation reasonably required to comply with any regulations
        regarding any supervisory agents or examiners of the Purchaser all such reports
        or information to be as provided by and in accordance with such applicable
        instructions and directions as the Purchaser may reasonably request in relation
        to this Agreement or the performance of the Company under this Agreement.
        The
        Company 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 purpose and to carry out the terms of this
        Agreement.

      

      
        
          
          

        

        
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      In
        connection with marketing the Mortgage Loans, the Purchaser may make available
        to a prospective purchaser audited financial statements of the Company for
        the
        most recently completed two (2) fiscal years for which such statements are
        available, as well as a Consolidated Statement of Condition at the end of
        the
        last two (2) fiscal years covered by any Consolidated Statement of Operations.
        If it has not already done so, the Company shall furnish promptly to the
        Purchaser or a prospective purchaser copies of the statements specified
        above.

      

      The
        Company shall make reasonably available to the Purchaser or any prospective
        Purchaser a knowledgeable financial or accounting officer for the purpose
        of
        answering questions 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.

      

      
        
          
          

        

        
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      ARTICLE
        VIII

      

      THE
        SERVICER

      

      Section
        8.01 Indemnification;
        Third Party Claims.

      

      The
        Company agrees to indemnify the Purchaser and hold it harmless 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
        Purchaser may sustain in any way related to the failure of the Company to
        observe and perform its duties, obligations, covenants, and agreements to
        service the Mortgage Loans in compliance with the terms of this Agreement.
        The
        Company agrees to indemnify the Purchaser and hold it harmless 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
        Purchaser may sustain in any way related to the breach of a representation
        or
        warranty set forth in Sections 3.01 or 3.02 of this Agreement. The Company
        shall
        immediately notify the Purchaser if a claim is made by a third party against
        Company with respect to this Agreement or the Mortgage Loans, assume (with
        the
        consent of the Purchaser) the defense of any such claim and pay all expenses
        in
        connection therewith, including counsel fees, whether or not such claim is
        settled prior to judgment, 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 shall promptly reimburse
        the Company for all amounts advanced by it pursuant to the two preceding
        sentences except when the claim relates to the failure of the Company to
        service
        and administer the Mortgages in compliance with the terms of this Agreement,
        the
        breach of representation or warranty set forth in Sections 3.01 or 3.02,
        or the
        gross negligence, bad faith or willful misconduct of Company. The provisions
        of
        this Section 8.01 shall survive termination of this Agreement. Nothing herein
        shall be construed to impose any liability on the Company in the event it
        has,
        in good faith, complied with any instructions of Purchaser, which instructions
        are contrary to the terms and provisions of this agreement.

      

      Section
        8.02 Merger
        or Consolidation of the Company.

      

      The
        Company 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 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
        whether or not related to loan servicing, 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,
        or
        the parent company of such successor or surviving Person, shall be an
        institution (i) having a GAAP net worth not less than $25,000,000, (ii) which
        is
        a HUD-approved mortgagee whose primary business is in origination and servicing
        of first lien mortgage loans, and (iii) who is a Fannie Mae or FHLMC approved
        seller/servicer in good standing; provided, however, that if such successor
        or
        surviving Person does not have a GAAP net worth of at least $25,000,000,
        the
        parent company of such successor or surviving Person shall act as guarantor
        with
        respect to such successor’s obligations under this Agreement.

      

      
        
          
          

        

        
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      Section
        8.03 Limitation
        on Liability of the Company and Others.

      

      Neither
        the Company nor any of the 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 made in good faith; 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 compliance
        with any standard of care set forth in this Agreement, or any liability which
        would otherwise be imposed by reason of negligence, bad faith or willful
        misconduct, or any breach of the terms and conditions of this Agreement.
        The
        Company and any 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
        the
        Purchaser 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 reasonable opinion may involve it in any
        expenses 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 reasonable legal expenses and costs of such action
        and any liability resulting therefrom shall be expenses, costs and liabilities
        for which the Purchaser will be liable, and the Company shall be entitled
        to be
        reimbursed therefor from the Purchaser upon written demand.

      

      Section
        8.04 Company
        Not to Assign or Resign.

      

      The
        Company shall not assign this Agreement or 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 11.01.

      

      
        
          
          

        

        
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      Section
        8.05 No
        Transfer of Servicing.

      

      With
        respect to the retention of the Company to service the Mortgage Loans hereunder,
        the Company acknowledges that the Purchaser has acted in reliance upon the
        Company'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 Company 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, other than in the normal course of business, without
        the
        prior written approval of the Purchaser, which consent shall not be unreasonably
        withheld; provided that the Company may assign the Agreement and the servicing
        hereunder without the consent of Purchaser to an affiliate of the Company
        to
        which all servicing of the Company 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 Company, such affiliate
        have a GAAP net worth of at least $25,000,000 and (iii) such affiliate shall
        deliver to the Purchaser 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..

      

      Without
        in any way limiting the generality of this Section 8.05, in the event that
        the
        Company either shall assign this Agreement or the servicing responsibilities
        hereunder or delegate its duties hereunder or any portion thereof without
        (i)
        satisfying the requirements set forth herein or (ii) the prior written consent
        of the Purchaser, then the Purchaser shall have the right to terminate this
        Agreement, without any payment of any penalty or damages and without any
        liability whatsoever to the Company (other than with respect to accrued but
        unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third
        party. 

      

      
        
          
          

        

        
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      ARTICLE
        IX

      

      DEFAULT

      

      Section
        9.01 Events
        of Default.

      

      In
        case
        one or more of the following Events of Default by the Company shall occur
        and be
        continuing, that is to say:

      

      (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 one
        (1) Business Day; or

      

      (ii)
        failure on the part of 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 which continues unremedied for a period of thirty
        (30)
        days after the date on which written notice of such failure shall have been
        given to the Company by the Purchaser, and the remedial period provided for
        herein has expired; 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, marshalling 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 decree or order
        shall have remained in force undischarged or unstayed for a period of sixty
        (60)
        days; or

      

      (iv)
        the
        Company 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 Company
        or
        of or relating to all or substantially all of its property; or

      

      (v)
        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
        or
        reorganization statute, make an assignment for the benefit of its creditors,
        or
        voluntarily suspend payment of its obligations; or

      

      (vi)
        Company ceases to be approved by either Fannie Mae or FHLMC as a mortgage
        loan
        seller or servicer for more than thirty (30) days; or

      

      (vii)
        the
        Company attempts to assign its right to servicing compensation hereunder
        or the
        Company attempts, without the consent of the Purchaser, 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; or

      

      
        
          
          

        

        
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      (viii)
        the Company ceases to be (a) licensed to service first lien residential mortgage
        loans in any jurisdiction in which a Mortgaged Property is located and such
        licensing is required, and (b) qualified to transact business in any
        jurisdiction where it is currently so qualified, but only to the extent such
        non-qualification materially and adversely affects the Company's ability
        to
        perform its obligations hereunder; or

      

      (ix)
        the
        Company fails to meet the eligibility criteria set forth in the last sentence
        of
        Section 8.02; or

      

      (x) failure
        by the Company to duly perform, within the required time period, its obligations
        under Section 6.04, 6.05 or 6.07, which failure continues unremedied for
        a
        period of fifteen (15) 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 any party to this Agreement or by the Master Servicer.

      

      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 Company (except in the
        case
        of an Event of Default under clauses (iii), (iv) or (v) above, in which case,
        automatically and without notice) Company may, in addition to whatever rights
        the Purchaser may have under Sections 3.03 and 8.01 and at law or equity
        or to
        damages, including injunctive relief and specific performance, terminate
        all the
        rights and obligations of the Company under this Agreement and in and to
        the
        Mortgage Loans and the proceeds thereof without compensating the Company
        for the
        same. On or after the receipt by the Company of such written notice (or,
        in the
        case of an Event of Default under clauses (iii), (iv) or (v) above, in which
        case, automatically and without 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
        11.01. Upon written request from the Purchaser, the Company shall prepare,
        execute and deliver, any and all documents and other instruments, place in
        such
        successor'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 Company's
        sole
        expense. The Company agrees to 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 or Escrow Account or thereafter received
        with respect to the Mortgage Loans or any REO Property.

      

      Section
        9.02 Waiver
        of Defaults.

      

      The
        Purchaser may waive only by written notice any default by the Company 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.

      

      
        
          
          

        

        
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      ARTICLE
        X

      

      TERMINATION

      

      Section
        10.01 Termination.

       

      The
        respective obligations and responsibilities of the Company shall terminate
        upon:
        (i) the later of the final payment or other liquidation (or any advance with
        respect thereto) of the last Mortgage Loan and the disposition of all remaining
        REO Property and the remittance of all funds due hereunder; or (ii) by mutual
        consent of the Company and the Purchaser in writing; or (iii) termination
        with
        cause under the terms of this Agreement; or (iv) at the Purchaser’s option and
        upon written notice to the Company, if any Mortgage Loan becomes 90 days
        or
        greater delinquent in payment of a scheduled Monthly Payment, but solely
        with
        respect to such Mortgage Loan; or (v) at the Purchaser’s option and upon written
        notice to the Company, if the sum of all Mortgage Loans that are 90 days
        or
        greater delinquent in payment of a scheduled Monthly Payment, (including
        those
        Mortgage Loans subject to bankruptcy, currently in foreclosure and any REO
        Properties), exceeds 7% of the aggregate total principal amount of all Mortgage
        Loans serviced hereunder; provided, however, that the Purchaser shall not
        have
        the right to terminate the Company if such delinquencies, bankruptcies and
        REO
        properties are resulting from acts beyond the Company’s control, including, but
        not limited to, acts of God, strikes, lockouts, riots, acts of war or terrorism,
        epidemics, nationalization, expropriation, currency restrictions, communication
        line failures, power failures, earthquakes or other natural disasters. For
        termination in accordance with clause (iv) of this subsection, the Company
        shall
        be deemed to have been terminated with cause and the provisions of Section
        9.01
        shall apply with respect to such termination. For termination in accordance
        with
        clause (v) of this subsection, the Company shall remain as “Company” under this
        Agreement, however servicing shall transfer to the Purchaser or its designee
        as
        subservicer for the Company, in accordance with a subservicing agreement
        to be
        provided to the Company by the Purchaser, and the Purchaser shall be paid
        a
        subservicing fee of 10 basis points for such subservicing. Simultaneously
        with
        any such termination and the transfer of servicing hereunder, the Company
        shall
        be entitled to be reimbursed for any outstanding Servicing Advances and Monthly
        Advances. 

       

      ARTICLE
        XI

      

      MISCELLANEOUS
        PROVISIONS

      

      Section
        11.01 Successor
        to the Company.

      

      
        
          
          

        

        
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      Prior
        to
        termination of Company's responsibilities and duties under this Agreement
        pursuant to Sections 4.13, 8.04, 9.01, 10.01 (ii) or (iii), 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 hereof 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 the
        Purchaser 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 Company 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 Company of the representations and warranties made pursuant
        to
        Sections 3.01, 3.02 and 3.03 and the remedies available to the Purchaser
        thereunder and under Section 8.01, 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 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,
        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 this Agreement pursuant to Section 4.13, 8.04,
        9.01 or 10.01 shall not affect any claims that the Purchaser may have against
        the Company arising prior to any such termination or resignation.

      

      The
        Company shall promptly deliver to the successor the funds in the Custodial
        Account and the Escrow Account and the Mortgage Files and related documents
        and
        statements held by it hereunder and the Company shall account for all funds.
        The
        Company 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 Company. Within ten (10) Business Days of the execution
        and
        delivery of such instruments, the successor shall reimburse the Company for
        unrecovered Servicing Advances which the successor retains hereunder and
        which
        would otherwise have been recovered by the Company pursuant to this Agreement
        but for the appointment of the successor servicer.

      

      Upon
        a
        successor's acceptance of appointment as such, the Company shall notify by
        mail
        the Purchaser of such appointment.

      

      
        
          
          

        

        
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      Section
        11.02 Amendment.

      

      This
        Agreement may be amended from time to time by the Company and the Purchaser
        by
        written agreement signed by the Company and the Purchaser.

      

      
        
          
          

        

        
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      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 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 Company at the Company's
        expense on direction of the Purchaser accompanied by an opinion of counsel
        to
        the effect that such recordation materially and beneficially affects the
        interest of the Purchaser or is necessary for the administration or servicing
        of
        the Mortgage Loans.

      

      Section
        11.04 Governing
        Law.

      

      This
        Agreement and the related Term Sheet shall be governed by and construed in
        accordance with the laws of the State of New York except to the extent preempted
        by Federal law. 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 certified mail, return receipt requested, or transmitted by
        telex,
        telegraph or telecopier and confirmed by a similar mailed writing, as
        follows:

      

      (i) if
        to the
        Company:

       

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319 Attention: 

      Debra
        F.
        Watkins, EVP Capital Markets & Treasury

      Telecopier
        No.: (404) 705-2301

      

      With
        a
        copy to:

      

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319

      Attention:
        General Counsel

      Telecopier
        No.: (404) 303-4069

      

      
        
          
          

        

        
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      (ii)
        if
        to the Purchaser:

       

      EMC
        Mortgage Corporation 

      Mac
        Arthur Ridge II, 

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        Texas 75038

      Attention:
        Ms. Raylene Ruyle

      Telecopier
        No.: 

      

      With
        a
        copy to:

      

      Bear
        Stearns Mortgage Capital Corporation

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Michelle Sterling

      

      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
        11.06 Severability
        of Provisions.

      

      Any
        part,
        provision, representation or warranty of this Agreement and the related Term
        Sheet 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 that 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.

      

      
        
          
          

        

        
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      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; 

      

      (vi)
         the
        term
        "include" or "including" shall mean without limitation by reason of enumeration;
        and

      

      (vii)
         headings
        of the Articles and Sections in this Agreement are for reference purposes
        only
        and shall not be deemed to have any substantive effect.

      

      Section
        11.09 Reproduction
        of Documents.

      

      This
        Agreement and all documents relating thereto, 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.

      

      
        
          
          

        

        
          72

          
            

          

        

        
          
          

        

      

      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. 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 the Agreement, provided
        that each party may provide confidential information to its employees, agents
        and affiliates who have a need to know such information in order to effectuate
        the transaction, provided further that such information is identified as
        confidential non-public information. In addition, confidential information
        may
        be provided to a regulatory authority with supervisory power over Purchaser,
        provided such information is identified as confidential non-public
        information.

      

      Section
        11.11 Recordation
        of Assignments of Mortgage.

      

      For
        each
        Mortgage Loan that is not a MERS Mortgage Loan, to the extent permitted by
        applicable law, each of the Assignments 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 and 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
        11.12 Assignment.

      

      The
        Purchaser shall have the right, without the consent of the Company, 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 and Assumption Agreement
        substantially in the form of Exhibit D hereto and the assignee or designee
        shall
        accede to the rights and obligations hereunder of the Purchaser with respect
        to
        such Mortgage Loans. In no event shall Purchaser sell a partial interest
        in any
        Mortgage Loan without the written consent of Company, which consent shall
        not be
        unreasonably denied. All references to the Purchaser in this Agreement shall
        be
        deemed to include its assignee or designee. The Company shall have the right,
        only with the consent of the Purchaser or otherwise in accordance with this
        Agreement, to assign, in whole or in part, its interest under this Agreement
        with respect to some or all of the Mortgage Loans.

      

      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 Company
        shall
        be rendered as an independent contractor and not as agent for
        Purchaser.

      

      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 this Agreement shall inure to the benefit
        of
        and be binding upon the Company and the Purchaser and their respective
        successors and assigns.

      

      
        
          
          

        

        
          73

          
            

          

        

        
          
          

        

      

      Section
        11.15 Entire
        Agreement.

      

      The
        Company acknowledges that no representations, agreements or promises were
        made
        to the Company by the Purchaser or any of its employees other than those
        representations, agreements or promises specifically contained herein and
        in the
        Confirmation. The Confirmation and this Agreement and the related Term Sheet
        sets forth the entire understanding between the parties hereto; provided,
        however, only this Agreement and the related Term Sheet shall be binding
        upon
        all successors of both parties. In the event of any inconsistency between
        the
        Confirmation and this Agreement, this Agreement and the related Term Sheet
        shall
        control.

      

      Section
        11.16. No
        Solicitation.

      

      From
        and
        after the Closing Date, the Company agrees that it will not take any action
        or
        permit or cause any action to be taken by any of its agents or affiliates,
        to
        personally, by telephone or mail, solicit the borrower or obligor under any
        Mortgage Loan to refinance the Mortgage Loan, in whole or in part, without
        the
        prior written consent of the Purchaser. Notwithstanding the foregoing, it
        is
        understood and agreed that (i) promotions undertaken by the Company or any
        affiliate of the Company which are directed to the general public at large,
        or
        segments thereof, provided that no segment shall consist primarily of the
        Mortgage Loans, including, without limitation, mass mailing based on
        commercially acquired mailing lists, newspaper, radio and television
        advertisements and (ii) responses to unsolicited requests or inquiries made
        by a
        Mortgagor or an agent of a Mortgagor, shall not constitute solicitation under
        this Section 11.16. This Section 11.16 shall not be deemed to preclude the
        Company or any of its affiliates from soliciting any Mortgagor for any other
        financial products or services. The Company shall use its best efforts to
        prevent the sale of the name of any Mortgagor to any Person who is not an
        affiliate of the Company, other than as permitted by law.

      

      Section
        11.17. Closing.

      

      The
        closing for the purchase and sale of the Mortgage Loans shall take place
        on the
        related Closing Date. 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 for the Mortgage Loans to be purchased on the related Closing Date
        shall
        be subject to each of the following conditions:

      

      (a) at
        least
        one (1) Business Day prior to the related Closing Date, the Company shall
        deliver to the Purchaser a magnetic diskette, or transmit by modem, a listing
        on
        a loan-level basis of the information contained in the related Mortgage Loan
        Schedule attached to the related Term Sheet;

      

      
        
          
          

        

        
          74

          
            

          

        

        
          
          

        

      

      (b) all
        of
        the representations and warranties of the Company under this Agreement shall
        be
        materially true and correct as of the related Closing Date and no event shall
        have occurred which, with notice or the passage of time, would constitute
        a
        material default under this Agreement;

      

      (c) the
        Purchaser shall have received, or the Purchaser's attorneys shall have received
        in escrow, all documents required pursuant to this Agreement, the related
        Term
        Sheet, an opinion of counsel and an officer's certificate, all 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 terms
        hereof;

      

      (d) the
        Company shall have delivered and released to the Purchaser (or its designee)
        on
        or prior to the related Closing Date all documents required pursuant to the
        terms of this Agreement and the related Term Sheet; and

      

      (e) all
        other
        terms and conditions of this Agreement, the related Term Sheet and the
        Confirmation shall have been materially complied with.

      

      Subject
        to the foregoing conditions, the Purchaser shall pay to the Company on the
        related Closing Date the Purchase Price, plus accrued interest pursuant to
        Section 2.02 of this Agreement, by wire transfer of immediately available
        funds
        to the account designated by the Company.

      

      Section
        11.18. Cooperation
        of Company with a Reconstitution.

      

      The
        Company and the Purchaser 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 Purchaser's sole option, the Purchaser may
        effect
        a sale (each, a "Reconstitution") of some or all of the Mortgage Loans then
        subject to this Agreement, without recourse, to:

      

      (a) 
        one or
        more third party purchasers in one or more in whole loan transfers (each,
        a
        "Whole Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more pass-through
        transfers (each, a "Pass-Through Transfer").

      

      The
        Company agrees to execute in connection with any agreements among the Purchaser,
        the Company, and any servicer in connection with a Whole Loan Transfer, an
        Assignment, Assumption and Recognition Agreement substantially in the form
        of
        Exhibit D hereto, or, at Purchaser’s request, a seller's warranties and
        servicing agreement or a participation and servicing agreement or similar
        agreement in form and substance reasonably acceptable to the parties, and
        in
        connection with a Pass-Through Transfer, a pooling and servicing agreement
        in
        form and substance reasonably acceptable to the parties, (collectively the
        agreements referred to herein are designated, the "Reconstitution Agreements").
        It is understood that any such Reconstitution Agreements will not contain
        any
        greater obligations on the part of Company than are contained in this
        Agreement.

      

      
        
          
          

        

        
          75

          
            

          

        

        
          
          

        

      

      With
        respect to each Whole Loan Transfer and each Pass-Through Transfer entered
        into
        by the Purchaser, the Company agrees (1) to cooperate fully with the Purchaser
        and any prospective purchaser with respect to all reasonable requests and
        due
        diligence procedures; (2) to execute, deliver and perform all Reconstitution
        Agreements required by the Purchaser; (3) to restate the representations
        and
        warranties set forth in this Agreement as of the settlement or closing date
        in
        connection with such Reconstitution (each, a "Reconstitution Date"). In that
        connection, the Company shall provide to such servicer or issuer, as the
        case
        may be, and any other participants in such Reconstitution: (i) any and all
        information (including servicing portfolio information) and appropriate
        verification of information (including servicing portfolio information) which
        may be reasonably available to the Company, whether through letters of its
        auditors and counsel or otherwise, as the Purchaser or any such other
        participant shall request upon reasonable demand; and (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 agreed upon by the Company and the Purchaser or any such other
        participant. In connection with each Pass-Through Transfer, the Company agrees
        to provide reasonable and customary indemnification to the Purchaser and
        its
        affilates for disclosure contained in any offering document relating to the
        Company or its affilates, the Mortgage Loans and the underwriting standards
        of
        the Mortgage Loans. The Purchaser shall be responsible for the costs relating
        to
        the delivery of such information. All reasonable and customary costs, fees
        and
        expenses incurred by Company pursuant to this provision shall be reimbursed
        to
        it and be deemed a condition precedent to its execution of any Reconstitution
        Agreement(s).

       

      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.

       

      
        
          
          

        

        
          76

          
            

          

        

        
          
          

        

      

      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

      

      By:________________________

      Name:
        

      Title:
        

      

      HOMEBANC
        MORTGAGE CORPORATION

      Company

      

      By:
        _______________________

      Name:
        Debra F. Watkins

      Title:
        Executive Vice President

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        A

      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,
        and
        which shall be retained by the Company in the Servicing File or delivered
        to the
        Purchaser or its designee pursuant to Sections 2.04 and 2.05 of the Purchase,
        Warranties and Servicing Agreement.

      

      1.
        The
        original Mortgage Note endorsed "Pay to the order of
        ____________________________________________________, without recourse,"
        and
        signed via original signature in the name of the Company by an authorized
        officer, with all intervening endorsements showing a complete chain of title
        from the originator to the Company, together with any applicable riders.
        In no
        event may an endorsement be a facsimile endorsement. If the Mortgage Loan
        was
        acquired by the Company in a merger, the endorsement must be by "[Company],
        successor by merger to the [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 "[Company] formerly known as [previous name]".
        Mortgage Notes may be in the form of a lost note affidavit subject to Purchaser
        acceptability. 

      

      2.
        Except
        as provided below and for each Mortgage Loan that is not a MERS Mortgage
        Loan,
        the original Mortgage with evidence of recording thereon. If in connection
        with
        any Mortgage Loan that is not a MERS 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 Purchaser 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 title insurer insuring the Mortgage stating that such Mortgage has
        been
        delivered 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 Purchaser 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 with
        the
        recording information thereon certified by such public recording office to
        be a
        true and complete copy of the original recorded Mortgage. With respect to
        each
        MERS Mortgage Loan, the original Mortgage, noting the presence of the MIN
        of the
        Mortgage Loans and either language indicating that the Mortgage Loan is a
        MOM
        Loan or if the Mortgage Loan was not a MOM Loan at origination, the original
        Mortgage and the assignment thereof to MERS, with evidence of recording
        indicated thereon, or a copy of the Mortgage certified by the public recording
        office in which such Mortgage has been recorded;

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      3.
        The
        original or certified copy, certified by the Company, of the Primary Mortgage
        Insurance Policy, if required.

      

      4. In
        the
        case of each Mortgage Loan that is not a MERS Mortgage Loan, the original
        Assignment of Mortgage, from the Company to “Mortgage Electronic Registration
        Systems, Inc., its successors and assigns, as nominee for EMC Mortgage
        Corporation, its successors and assigns, P.O. Box 2026, Flint, Michigan
        48501-2026,” or otherwise in accordance with Purchaser's instructions, which
        assignment of mortgage shall, but for any blanks requested by Purchaser,
        be in
        form and substance acceptable for recording. If the Mortgage Loan was acquired
        or originated by the Company while doing business under another name, the
        Assignment must be by "[Company] formerly known as [previous name]". If the
        Mortgage Loan was acquired by the Company in a merger, the endorsement must
        be
        by "[Company], successor by merger to the [name of predecessor]". None of
        the
        Assignments are blanket assignments of mortgage;

      

      5. The
        original policy of title insurance, including riders and endorsements thereto,
        or if the policy has not yet been issued, a written commitment or interim
        binder
        or preliminary report of title issued by the title insurance or escrow
        company.

      

      6. In
        the
        case of each Mortgage Loan that is not a MERS Mortgage Loan, originals of
        all
        recorded intervening Assignments, or copies thereof, certified by the public
        recording office in which such Assignments have been recorded showing a complete
        chain of title from the originator to the Company, with evidence of recording
        thereon, or a copy thereof certified by the public recording office in which
        such Assignment has been recorded or, if the original Assignment has not
        been
        returned from the applicable public recording office, a true certified copy,
        certified by the Company.

      

      7. Originals,
        or copies thereof certified by the public recording office in which such
        documents have been recorded, of each assumption, extension, modification,
        written assurance or substitution agreements, if applicable, or if the original
        of such document has not been returned from the applicable public recording
        office, a true certified copy, certified by the Company. 

      

      8. If
        the
        Mortgage Note or Mortgage or any other material document or instrument relating
        to the Mortgage Loan has been signed by a person on behalf of the Mortgagor,
        the
        original or copy of power of attorney or other instrument that authorized
        and
        empowered such person to sign bearing evidence that such instrument has been
        recorded, if so required in the appropriate jurisdiction where the Mortgaged
        Property is located, or a copy thereof certified by the public recording
        office
        in which such instrument has been recorded or, if the original instrument
        has
        not been returned from the applicable public recording office, a true certified
        copy, certified by the Company.

      

      9. reserved.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      10. Mortgage
        Loan closing statement (Form HUD-1) and any other truth-in-lending or real
        estate settlement procedure forms required by law.

      

      11.
        Residential loan application.

      

      12. Uniform
        underwriter and transmittal summary (Fannie Mae Form 1008) or reasonable
        equivalent.

      

      13. Credit
        report on the mortgagor.

      

      14. Business
        credit report, if applicable.

      

      15. Residential
        appraisal report and attachments thereto.

      

      16. The
        original of any guarantee executed in connection with the Mortgage
        Note.

      

      17. Verification
        of employment and income except for Mortgage Loans originated under a limited
        documentation program, all in accordance with Company's underwriting
        guidelines.

      

      18. Verification
        of acceptable evidence of source and amount of down payment, in accordance
        with
        Company's underwriting guidelines.

      

      19. Photograph
        of the Mortgaged Property (may be part of appraisal).

      

      20. Survey
        of
        the Mortgaged Property, if any.

      

      21. Sales
        contract, if applicable.

      

      22. If
        available, termite report, structural engineer’s report, water portability and
        septic certification.

      

      23. Any
        original security agreement, chattel mortgage or equivalent executed in
        connection with the Mortgage.

      

      24. Name
        affidavit, if applicable.

      

      Notwithstanding
        anything to the contrary herein, Company may provide one certificate for
        all of
        the Mortgage Loans indicating that the documents were delivered for
        recording.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      CUSTODIAL
        ACCOUNT LETTER AGREEMENT

      

      ______________,
        2004

      

      
        	
                To:

              	
                [_______________________]
                  

              
	 	
                (the
                  "Depository")

              

      

      

      As
        "Company" under the Purchase, Warranties and Servicing Agreement, dated as
        of
        January 1, 2004 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
        "[______________________________________], in trust for the [Purchaser],
        Owner
        of Adjustable Rate Mortgage Loans". All deposits in the account shall be
        subject
        to withdrawal therefrom by order signed by the Company. 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.

      

      [___________________________]

      By:__________________________

      Name:________________________

      Title:_________________________

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C

      

      ESCROW
        ACCOUNT LETTER AGREEMENT

      _____________,
        2004

      
        

        
          	
                  To:

                	
                  [_______________________]
                    

                
	 	
                  (the
                    "Depository")

                

        

         

      

      As
        “Company” under the Purchase Warranties and Servicing Agreement, dated as of
        January 1, 2004 Adjustable Rate Mortgage Loans (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
        "[__________________________], in trust for the [Purchaser], Owner of Adjustable
        Rate Mortgage Loans, and various Mortgagors." All deposits in the account
        shall
        be subject to withdrawal therefrom by order signed by the Company. 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.

      

      [______________________]

      

      By:____________________________

      Name:__________________________

      Title:___________________________

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        D

      

      FORM
        OF
        PURCHASE, ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

      

      This
        is a
        Purchase, Assignment, Assumption and Recognition Agreement (this “PAAR
        Agreement”) made as of __________, 200__, among EMC Mortgage Corporation (the
“Assignor”), ___________________ (the “Assignee”), and HomeBanc Mortgage
        Corporation (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 the Purchase, Warranties
        and
        Servicing Agreement, dated as of _________, 200__, between Assignor and Company
        (the “Purchase Agreement”) shall be subject to the terms of this PAAR Agreement.
        Capitalized terms used herein but not defined shall have the meanings ascribed
        to them in the Purchase Agreement.

      

      Purchase,
        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 Purchase
        Agreement.

      

      2. Simultaneously
        with the execution hereof, (i) Assignee shall pay to Assignor the “Funding
        Amount” as set forth in that certain letter agreement, dated as of _________
        ____, between Assignee and Assignor (the “Confirmation”) and (ii) Assignor, at
        its expense, shall have caused to be delivered to Assignee or its designee
        the
        Mortgage File for each Assigned Loan in Assignor's or its custodian's
        possession, as set forth in the Purchase Agreement, along with, for each
        Assigned Loan, an endorsement of the Mortgage Note from the applicable Company,
        in blank, and an assignment of mortgage in recordable form from the applicable
        Company, in blank. Assignee shall pay the Funding Amount by wire transfer
        of
        immediately available funds to the account specified by Assignor. Assignee
        shall
        be entitled to all scheduled payments due on the Assigned Loans after
        ___________, 200__ and all unscheduled payments or other proceeds or other
        recoveries on the Assigned Loans received on and after _____________,
        200__.

      

      Representations,
        Warranties and Covenants

      

      3. 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 Purchase 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
        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 Purchase 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 Purchase 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 Purchase 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 PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (h) 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.

       

      4. 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
        acquire, own and purchase the Assigned Loans;

      

      (b) Assignee
        has full corporate power and authority to execute, deliver and perform its
        obligations under this PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and 

      

      (d) Assignee
        agrees to be bound as “Purchaser” by all of the terms, covenants and conditions
        of the Purchase Agreement with respect to the Assigned Loans, and from and
        after
        the date hereof, Assignee assumes for the benefit of each of Assignor and
        Company all of Assignor's obligations as “Purchaser” thereunder but solely with
        respect to such Assigned Loans.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      5. 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 Purchase 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
        Purchase Agreement;

      

      
        	 	
                (c)

              	
                Company
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this PAAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this PAAR 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 charter 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 PAAR 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 PAAR 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 Assignee in connection with the execution, delivery or
                  performance
                  by Company of this PAAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby;
                  and

              

      

      

      
        	 	
                (e)

              	
                Except
                  as otherwise disclosed, 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
                  the Company in Sections 3.01 and 3.02 of the Purchase Agreement
                  to be
                  untrue in any material respect.

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Recognition
        of Assignee

      

      6. From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans and will service the Assigned Loans in accordance with the Purchase
        Agreement. It is the intention of Assignor, Company and Assignee that this
        PAAR
        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, waiver, or otherwise alter any of the terms or
        provisions of the Purchase Agreement which amendment, modification, waiver
        or
        other alteration would in any way affect the Assigned Loans without the prior
        written consent of Assignee.

       

      Miscellaneous

      

      7. All
        demands, notices and communications related to the Assigned Loans, the Purchase
        Agreement and this PAAR 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,

      

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319

      Attention:
        Debra F. Watkins, EVP Capital Markets & Treasury

      Telecopier
        No.: (404) 705-2301

       

      With
        a copy to 

       

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319

      Attention:
        General Counsel

      Telecopier
        No.: (404) 303-4069

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                In
                  the case of Assignor,

              

      

      

      ____________________

      ____________________

      ____________________

      ____________________

      ____________________ 

      

      
        	
              	(c)	
                In
                  the case of Assignee,

              

      

      

      EMC
        Mortgage Corporation 

      Mac
        Arthur Ridge II 

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        Texas 75038

      Attention:
        Ms. Raylene Ruyle

      Telecopier
        No.: 

      

      with
        a
        copy to:

      

      Bear
        Stearns Mortgage Capital Corporation 

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Michelle Sterling

      

      8. Each
        party will pay any commissions it has incurred and the fees of its attorneys
        in
        connection with the negotiations for, documenting of and closing of the
        transactions contemplated by this PAAR Agreement. 

      

      9. This
        PAAR
        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.

      

      10. No
        term
        or provision of this PAAR 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.

      

      11. This
        PAAR
        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.

      

      12. This
        PAAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignment
        of
        the Purchase Agreement to the extent of the Assigned Loans by Assignor to
        Assignee and the termination of the Purchase Agreement.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      13. This
        PAAR
        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.

      

      14. In
        the
        event that any provision of this PAAR Agreement conflicts with any provision
        of
        the Purchase Agreement with respect to the Assigned Loans, the terms of this
        PAAR Agreement shall control. In the event that any provision of this PAAR
        Agreement conflicts with any provision of the Confirmation with respect to
        the
        Assigned Loans, the terms of this PAAR Agreement shall control. Notwithstanding
        anything to the contrary herein contained, the parties hereto understand
        and
        agree that no provision of the PAAR Agreement imposes upon the Company any
        duty
        or obligation greater than that referenced or otherwise recited in the Purchase
        Agreement.

      

      [Modification
        of Purchase Agreement

      

      
        	 	
                15.

              	
                The
                  Company and Assignor hereby amend the Purchase Agreement as
                  follows:

              

      

      

      (a) The
        following definitions are added to Section 1.01 of the Purchase
        Agreement:

      

      Securities
        Administrator: ________________________

      

      Supplemental
        PMI Insurer: ________________________

      

      Supplemental
        PMI Policy: The
        primary guarantee insurance policy of the Supplemental PMI Insurer attached
        hereto as Exhibit J, or any successor Supplemental PMI Policy given to the
        Servicer by the Assignee.

      

      Trustee:
         ________________________

      

      (b) The
        following definition is amended and restated:

      

      Insurance
        Proceeds: Proceeds
        of any Primary Mortgage Insurance Policy, the Supplemental PMI Policy, any
        title
        policy, any hazard insurance policy or any other insurance policy covering
        a
        Mortgage Loan or other related Mortgaged Property, including any amounts
        required to be deposited in the Custodial Account pursuant to Section 4.04,
        to
        the extent such proceeds are not to be applied to the restoration of the
        related
        Mortgaged Property or released to the Mortgagor in accordance with Accepted
        Servicing Practices.

      

      (c) The
        following are added as the fourth, fifth and sixth paragraphs of Section
        4.08:

      

      “In
        connection with its activities as servicer, the Company agrees to prepare
        and
        present, on behalf of itself and the Purchaser, claims to the Supplemental
        PMI
        Insurer with respect to the Supplemental PMI Policy and, in this regard,
        to take
        such action as shall be necessary to permit recovery under any Supplemental
        PMI
        Policy respecting a defaulted Mortgage Loan. Pursuant to Section 4.04, any
        amounts collected by the Company under any Supplemental PMI Policy shall
        be
        deposited in the Custodial Account, subject to withdrawal pursuant to Section
        4.05.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      In
        accordance with the Supplemental PMI Policy, the Company shall provide to
        the
        Supplemental PMI Insurer any required information regarding the Mortgage
        Loans.

      

      The
        Company shall provide to the [Securities Administrator] on a monthly basis
        via
        computer tape, or other mutually acceptable format, the unpaid principal
        balance, insurer certificate number, lender loan number, and premium due
        the
        Supplemental PMI Insurer for each Mortgage Loan covered by the Supplemental
        PMI
        Policy. In addition, the Company agrees to forward to the Purchaser and the
        [Securities Administrator] any statements or other reports given by the
        Supplemental PMI Insurer to the Servicer in connection with a claim under
        the
        Supplemental PMI Policy.”

      

      (d) Clause
        (vi) of Section 6.1 is amended to read as follows:

      

      “Company
        ceases to be approved by either Fannie Mae or FHLMC as a mortgage loan seller
        or
        servicer for more than thirty (30) days, or the Company fails to meet the
        servicer eligibility requirements of the Supplemental PMI Insurer;
        or”]

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this PAAR Agreement as
        of the
        day and year first above written.

      

      EMC
        MORTGAGE CORPORATION

      Assignor

      

      By:
        ______________________________

      Name:     

      Title:     

      

      

      _________________________________

      Assignee

      

      By:     

      Name:     

      Title:     

      

      

      HOMEBANC
        MORTGAGE CORPORATION

      Company

      

      By:______________________________

      Name:
        Debra F. Watkins

      Title:
        Executive Vice President

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        1

      

      ASSIGNED
        LOAN SCHEDULE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        2

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        E

      

      FORM
        OF
        TRIAL BALANCE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G

      

      REQUEST
        FOR RELEASE OF DOCUMENTS AND RECEIPT

      

      RE: Mortgage
        Loan #___________________________________

      BORROWER:_________________________________________

      PROPERTY:
        _________________________________________

      

      Pursuant
        to a Purchase, Warranties and Servicing Agreement (the "Agreement") between
        the
        Company and the Purchaser, the undersigned hereby certifies that he or she
        is an
        officer of the Company requesting release of the documents for the reason
        specified below. The undersigned further certifies that:

      

      (Check
        one of the items below)

      

      _____ On
        _________________, the above captioned mortgage loan was paid in full or
        that
        the Company has been notified that payment in full has been or will be escrowed.
        The Company hereby certifies that all amounts with respect to this loan which
        are required under the Agreement have been or will be deposited in the Custodial
        Account as required.

      

      _____ The
        above
        captioned loan is being repurchased pursuant to the terms of the Agreement.
        The
        Company hereby certifies that the repurchase price has been credited to the
        Custodial Account as required under the Agreement.

      

      _____ The
        above
        captioned loan is being placed in foreclosure and the original documents
        are
        required to proceed with the foreclosure action. The Company hereby certifies
        that the documents will be returned to the Purchaser in the event of
        reinstatement.

      

      _____ Other
        (explain)

      

      _______________________________________________________

      _______________________________________________________

      

      All
        capitalized terms used herein and not defined shall have the meanings assigned
        to them in the Agreement.

      

      Based
        on
        this certification and the indemnities provided for in the Agreement, please
        release to the Company all original mortgage documents in your possession
        relating to this loan.

      

      Dated:_________________

      

      By:________________________________

      Signature

      _______________________________

      Title

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Send
        documents to: _____________________________

      _____________________________________________

      _____________________________________________

      

      Acknowledgement:

      

      Purchaser
        hereby acknowledges that all original documents previously released on the
        above
        captioned mortgage loan have been returned and received by the
        Purchaser.

      

      

      Dated:________________

      

      By:________________________________

      Signature

      

      _______________________________

      Title

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H

      

      COMPANY’S
        UNDERWRITING GUIDELINES

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I

      

      TERM
        SHEET

      

      This
        TERM
        SHEET (the "Term Sheet") dated _____________, between HomeBanc Mortgage
        Corporation, a Delaware corporation, located at 2002 Summit Boulevard, Suite
        100, Atlanta, GA 30319 (the “Company”) and EMC Mortgage Corporation, a Delaware
        corporation, located at ______________ (the "Purchaser") is made pursuant
        to the
        terms and conditions of that certain Purchase, Warranties and Servicing
        Agreement (the "Agreement") dated as of January 1, 2004, between the Company
        and
        the Purchaser, the provisions of which are incorporated herein as if set
        forth
        in full herein, as such terms and conditions may be modified or supplemented
        hereby. All initially capitalized terms used herein unless otherwise defined
        shall have the meanings ascribed thereto in the Agreement. 

      

      The
        Purchaser hereby purchases from the Company and the Company hereby sells
        to the
        Purchaser, all of the Company’s right, title and interest in and to the Mortgage
        Loans described on the Mortgage Loan Schedule annexed hereto as Schedule
        I,
        pursuant to and in accordance with the terms and conditions set forth in
        the
        Agreement, as same may be supplemented or modified hereby. Hereinafter, the
        Company shall service the Mortgage Loans for the benefit of the Purchaser
        and
        all subsequent transferees of the Mortgage Loans pursuant to and in accordance
        with the terms and conditions set forth in the Agreement. 

      

      1. Definitions

      

      For
        purposes of the Mortgage Loans to be sold pursuant to this Term Sheet, the
        following terms shall have the following meanings:

      

      Aggregate
        Principal Balance

      (as
        of
        the Cut-Off Date):    

      

      Closing
        Date:    

      

      Custodian:    

      

      Cut-off
        Date:    

      

      Initial
        Weighted Average

      Mortgage
        Loan Remittance Rate:  

      

      Mortgage
        Loan:    

      

      Purchase
        Price Percentage:   

      

      Servicing
        Fee Rate:

         

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Additional
        Closing Conditions: 

      

      In
        addition to the conditions specified in the Agreement, the obligation of
        each of
        the Company and the Purchaser is subject to the fulfillment, on or prior
        to the
        applicable Closing Date, of the following additional conditions: [None].
        

      

      Additional
        Loan Documents: 

      

      In
        addition to the contents of the Mortgage File specified in the Agreement,
        the
        following documents shall be delivered with respect to the Mortgage Loans:
        [None]

      

      [Additional]
        [Modification] of Representations and Warranties:

       

      [In
        addition to the representations and warranties set forth in the Agreement,
        as of
        the date hereof, the Company makes the following additional representations
        and
        warranties with respect to the Mortgage Loans: [None]. [Notwithstanding anything
        to the contrary set forth in the Agreement, with respect to each Mortgage
        Loan
        to be sold on the Closing Date, the representation and warranty set forth
        in
        Section ______ of the Agreement shall be modified to read as
        follows:]

      

      Except
        as
        modified herein, Section ______ of the Agreement shall remain in full force
        and
        effect as of the date hereof.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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.

       

      

      HOMEBANC
        MORTGAGE CORPORATION

      

      

      By:
        ____________________________

      Name:
        __________________________

      Title:
        ___________________________

      

      

      

      EMC
        MORTGAGE CORPORATION

      

      

      By:
        ____________________________

      Name:
        __________________________

      Title:
        ___________________________

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        I

      

      MORTGAGE
        LOAN SCHEDULE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      AMENDED
        AND RESTATED AMENDMENT
        NUMBER ONE

      to
        the

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      

      Dated
        as
        of January 27, 2006

      

      among

      

      EMC
        MORTGAGE CORPORATION, 

      as
        Purchaser

      

      and

      

      HOMEBANC
        MORTGAGE CORPORATION,

      as
        Company

      

      This
        AMENDED AND RESTATED AMENDMENT NUMBER ONE (this “Amendment”) is made and entered
        into this 27th
        day of
        January, 2006, by and between EMC Mortgage Corporation, a Delaware corporation,
        as purchaser (the “Purchaser”) and HomeBanc Mortgage Corporation, as company
        (the “Company”) in connection with the Purchase, Warranties and Servicing
        Agreement, dated as of January 1, 2004, 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;
        

      

      WHEREAS,
        the Agreement provides that the Agreement may be amended from time to time
        by
        the Company and the Purchaser by written agreement signed by the Company
        and the
        Purchaser; 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. 

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      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 documents.

      

      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 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 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.

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      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
        M
        for
        convenience of reference only. In the event of a conflict or inconsistency
        between the terms of Exhibit
        M
        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
        M).

      

      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 Company or a Subservicer.
        

      

      Third-Party
        Originator:
        Each
        Person, other than a Qualified Correspondent, that originated Mortgage Loans
        acquired by the Company.

      

      3. Article
        I
        of the Agreement is hereby amended effective as of the date hereof by deleting
        in its entirety the definition of Subservicer in Section 1.01 and replacing
        it
        with the following:

      

      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.
        Any subservicer shall meet the qualifications set forth in Section
        4.01.

      

      4. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        revising Section 3.01(n) as follows (new text underlined):

      

      (n)
        Company
        has delivered to the Purchaser financial statements of its parent, for its
        last
        two complete fiscal years. All such financial information fairly presents
        the
        pertinent results of operations and financial position for the period identified
        and has been prepared in accordance with GAAP consistently applied throughout
        the periods involved, except as set forth in the notes thereto. There has
        been
        no change in the servicing
        policies and procedures,
        business, operations, financial condition, properties or assets of the Company
        since the date of the Company’s financial information that would have a material
        adverse effect on its ability to perform its obligations under this
        Agreement;

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      5.
        Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(p):

      

      (p)
        As
        of the
        date of each Pass-Through Transfer, and except as has been otherwise disclosed
        to the Purchaser: (1) the Company is not aware of 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 Company; (2)
        no
        material noncompliance with applicable servicing criteria as to any other
        securitization has been disclosed or reported by the Company; (3) 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; (4) no material changes to the Company’s
        servicing policies and procedures for similar loans has occurred in the
        preceding three years; (5) there are no aspects of the Company’s financial
        condition that could have a material adverse impact on the performance by
        the
        Company of its obligations hereunder; (6) there are no material legal
        proceedings pending, or known to be contemplated by governmental authorities,
        against the Company; and (7) there are no affiliations, relationships or
        transactions relating to the Company of a type that are described under Item
        1119 of Regulation AB.

      

      6. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(q):

      

      (q)
        If
        so
        requested by the Purchaser or any Depositor on any date, the Company shall,
        within five Business Days following such request, confirm in writing the
        accuracy of the representations and warranties set forth in Section 3.01(p)
        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.

      

      7. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(r):

      

      (r) Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        each Subservicer and Third-Party Originator to) (i) within 2 Business Days
        of
        the related event, 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, (B) any affiliations or relationships
        that develop following the closing date of a Pass-Through Transfer between
        the
        Company, any Subservicer or any Third-Party Originator and any of the parties
        specified in clause (7) of paragraph (p) of this Section (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 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.

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      All
        notification pursuant to this Section 3.01(r), other than those pursuant
        to
        Section 3.01(r)(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(r)(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

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      8. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(s):

      

      (s) 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 its reporting obligation
        under Item 6.02 of Form 8-K with respect to any class of asset-backed
        securities.

      

      9. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.02(xx):

      

      With
        respect to each Mortgage Loan, information regarding the borrower credit
        files
        related to such Mortgage Loan has been furnished to credit reporting agencies
        in
        compliance with the provisions of the Fair Credit Reporting Act and the
        applicable implementing regulations.

      

      10. Article
        IV of the Agreement is hereby amended effective as of the date hereof by
        adding
        this paragraph after the first sentence of Section 4.01:

      

      In
        addition, the Company 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.

      

      11. 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 Company will
        use
        delinquency recognition policies as described to and approved by the Purchaser,
        and shall revise these policies as requested by the Purchaser from time to
        time.

      

      12. 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 Purchaser.

      

      The
        Company shall furnish to the Purchaser an individual loan accounting report,
        as
        of
        the last
        Business Day of each month, in the Company's assigned loan number order to
        document Mortgage Loan payment activity on an individual Mortgage Loan basis.
        With respect to each month, the corresponding individual loan accounting
        report
        shall be received by the Purchaser no later than the fifth Business Day of
        the
        following month on a disk or tape or other computer-readable format in such
        format as may be mutually agreed upon by both Purchaser and Company, and
        no
        later than the fifth Business Day of the following month in hard copy, and
        shall
        contain the following:

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      (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 Company 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 Company in accordance with Section 4.04(viii) during the prior
        distribution period; 

      

      (viii) the
        beginning and ending balances of the Custodial Account and Escrow
        Account;

      

      (ix) the
        number of Mortgage Loans as of the first day of the distribution period and
        the
        last day of the distribution period; 

      

      (x) 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;

      

      (xi) with
        respect to each Mortgage Loan, the amount and severity of any realized loss
        following liquidation of such Mortgage Loan; 

      

      (xii) with
        respect to each Mortgage Loan, and in the aggregate for all Mortgage Loans,
        the
        amount of any Monthly Advances made by the Company during the prior distribution
        period; 

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (xiii) with
        respect to each Mortgage Loan, a description of any Servicing Advances made
        by
        the Company with respect to such Mortgage Loan including the amount, terms
        and
        general purpose of such Servicing Advances, and the aggregate amount of
        Servicing Advances for all Mortgage Loans during the prior distribution
        period;

      

      (xiv) with
        respect to each Mortgage Loan, a description of any Nonrecoverable Advances
        made
        by the Company 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;

      

      (xv) with
        respect to each Mortgage Loan, a description of any Monthly Advances, Servicing
        Advances and Nonrecoverable Advances reimbursed to the Company 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 Company for all Mortgage Loans during the prior distribution
        period pursuant to Section 4.05; 

      

      (xvi) 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;

      

      (xvii) 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;

      

      (xviii) with
        respect to each Mortgage Loan, the Stated Principal Balance of any substitute
        Mortgage Loan provided by the Company 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;

      

      (xix) with
        respect to each Mortgage Loan, the Stated Principal Balance of any Mortgage
        Loan
        that has been repurchased by the Company in accordance with Section 3.03
        herein.

      

      In
        addition, the Company shall provide to the Purchaser such other information
        known or available to the Company 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 Purchaser
        in
        its reasonable discretion. The Company shall also provide a monthly report,
        in
        the form of Exhibit
        E
        hereto,
        or such other form as is mutually acceptable to the Company, the Purchaser
        and
        any Master Servicer, Exhibit
        F
        with
        respect to defaulted mortgage loans and Exhibit
        P,
        with
        respect to realized losses and gains, with each such report. 

      

      The
        Company shall prepare and file any and all information statements or other
        filings required to be delivered to any governmental taxing authority or
        to
        Purchaser pursuant to any applicable law with respect to the Mortgage Loans
        and
        the transactions contemplated hereby. In addition, the Company shall provide
        Purchaser with such information concerning the Mortgage Loans as is necessary
        for Purchaser to prepare its federal income tax return as Purchaser may
        reasonably request from time to time.

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      In
        addition, not more than sixty (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.

      

      13. 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
        Company will deliver to the Purchaser, not later than March 1 of each calendar
        year beginning in 2007, an Officers’ Certificate acceptable to the Purchaser (an
“Annual Statement of Compliance”) stating, as to each signatory thereof, that
        (i) a review of the activities of the Company 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 Company 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. Copies of such statement shall be provided by the
        Company to the Purchaser upon request and by the Purchaser to any Person
        identified as a prospective purchaser of the Mortgage Loans. In the event
        that
        the Company has delegated any servicing responsibilities with respect to
        the
        Mortgage Loans to a Subservicer, the Company shall deliver an officer’s
        certificate (an "Annual Certification") of the Subservicer as described above
        as
        to each Subservicer as and when required with respect to the
        Company.

      

      (b) With
        respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
        by March 1 of each calendar year beginning in 2007, an officer of the Company
        shall execute and deliver an Annual Certification to the Purchaser, 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
        L.
        In the
        event that the Company has delegated any servicing responsibilities with
        respect
        to the Mortgage Loans to a Subservicer, the Company shall deliver an Annual
        Certification of the Subservicer as described above as to each Subservicer
        as
        and when required with respect to the Company.

      

      (c) If
        the
        Company cannot deliver the related Annual Statement of Compliance or Annual
        Certification by March 1 of such year, the Purchaser shall permit a cure
        period
        for the Company to deliver such Annual Statement of Compliance or Annual
        Certification, but in no event later than March 10th of such year.

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      Failure
        of the Company to timely comply with this Section 6.04 shall be deemed an
        Event
        of Default, automatically, without notice and without any further cure period,
        and Purchaser may, in addition to whatever rights the Purchaser may have
        under
        Sections 3.03 and 8.01 and at law or equity or to damages, including injunctive
        relief and specific performance, terminate all the rights and obligations
        of the
        Company under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Company 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 supercede any other provision in
        this
        Agreement or any other agreement to the contrary; 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.

      

      14. 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].

      

      15. Article
        VI of the Agreement is hereby amended effective as of the date hereof by
        deleting 6.07 in its entirety and replacing it with the following:

      

      Section
        6.07 Assessment
        of Compliance with Servicing Criteria.

      

      On
        and
        after January 1, 2006, the Company shall service and administer, and shall
        cause
        each subservicer to service 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 Company shall deliver to the Purchaser or its designee on or before March
        1
        of each calendar year beginning in 2007, a report (an “Assessment of
        Compliance”) reasonably satisfactory to the Purchaser regarding the Company’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,
        which as of the date hereof, require a report by an authorized officer of
        the
        Company that contains the following:

      

      (a) A
        statement by such officer of its responsibility for assessing compliance
        with
        the Servicing Criteria applicable to the Company;

      

      (b) A
        statement by such officer that such officer used the Servicing Criteria to
        assess compliance with the Servicing Criteria applicable to the
        Company;

      

      (c) An
        assessment by such officer of the Company’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
        it
        performs with respect to asset-backed securities transactions taken as a
        whole
        involving the Company, that are backed by the same asset type as the Mortgage
        Loans;

      

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      (d) A
        statement that a registered public accounting firm has issued an attestation
        report on the Company’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 Company, which statement shall be based on the activities it performs
        with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Company, 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 a
        certification substantially in the form of Exhibit O hereto delivered to
        the
        Purchaser concurrently with the execution of this Agreement.

      

      With
        respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
        on or before March 1 of each calendar year beginning in 2007, the Company
        shall
        furnish to the Purchaser or its designee a report (an “Attestation Report”) by a
        registered public accounting firm that attests to, and reports on, the
        Assessment of Compliance made by the Company, 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 Company Accounting Oversight Board. 

      

      The
        Company shall cause each Subservicer, and each Subcontractor determined by
        the
        Company 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
        Purchaser and any Depositor an assessment of compliance and accountants’
attestation as and when provided in Sections 6.07.

      

      If
        the
        Company cannot deliver the related Assessment of Compliance or Attestation
        Report by March 1 of such year, the Purchaser shall permit a cure period
        for the
        Company to deliver such Assessment of Compliance or Attestation Report, but
        in
        no event later than March 10th of such year.

      

      Failure
        of the Company to timely comply with this Section 6.07 shall be deemed an
        Event
        of Default, automatically, without notice and without any further cure period,
        and Purchaser may, in addition to whatever rights the Purchaser may have
        under
        Sections 3.03 and 8.01 and at law or equity or to damages, including injunctive
        relief and specific performance, terminate all the rights and obligations
        of the
        Company under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Company 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 supercede any other provision in
        this
        Agreement or any other agreement to the contrary.

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      16. Article
        VI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 6.08:

      

      Section
        6.08 Intent
        of the Parties; Reasonableness.

      

      The
        Purchaser and the Company acknowledge and agree that a purpose of Sections
        3.01(p), 5.02, 6.04, 6.05, 6.07 and 11.18 of this Agreement is to facilitate
        compliance by the Purchaser and any Depositor with the provisions of Regulation
        AB and related rules and regulations of the Commission. None of the Purchaser,
        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
        Company and Purchaser acknowledge 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 the
        Company 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 Pass-Through
        Transfer, 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.

      

      17. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        restating Section 11.18 in its entirety as follows:

      

      Section
        11.18. Cooperation
        of Company with a Reconstitution.

      

      The
        Company and the Purchaser 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 Purchaser's sole option, the Purchaser may
        effect
        a sale (each, a "Reconstitution") of some or all of the Mortgage Loans then
        subject to this Agreement, without recourse, to:

      

      (a) one
        or
        more third party purchasers in one or more whole loan transfers (each, a
        "Whole
        Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more Pass-Through
        Transfers.

      

      The
        Company agrees to execute in connection with any agreements among the Purchaser,
        the Company, and any servicer in connection with a Whole Loan Transfer, an
        Assignment, Assumption and Recognition Agreement substantially in the form
        of
        Exhibit D hereto, or, at Purchaser’s request, a seller's warranties and
        servicing agreement or a participation and servicing agreement or similar
        agreement in form and substance reasonably acceptable to the parties, and
        in
        connection with a Pass-Through Transfer, a pooling and servicing agreement
        in
        form and substance reasonably acceptable to the parties, (collectively the
        agreements referred to herein are designated, the “Reconstitution Agreements”).
        It is understood that any such Reconstitution Agreements will not contain
        any
        greater obligations on the part of Company than are contained in this Agreement.
        Notwithstanding anything to the contrary in this Section 11.18, the Company
        agrees that it is required to perform the obligations described in Exhibit
        K
        hereto.

      

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      With
        respect to each Whole Loan Transfer and each Pass-Through Transfer entered
        into
        by the Purchaser, the Company agrees (1) to cooperate fully with the Purchaser
        and any prospective purchaser with respect to all reasonable requests and
        due
        diligence procedures; (2) to execute, deliver and perform all Reconstitution
        Agreements required by the Purchaser; (3) to restate the representations
        and
        warranties set forth in this Agreement as of the settlement or closing date
        in
        connection with such Reconstitution (each, a "Reconstitution Date").

      

      In
        addition, the Company shall provide to such servicer or issuer, as the case
        may
        be, and any other participants in such Reconstitution: 

      

      (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 or any such other participant shall
        request upon reasonable demand; 

      

      (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 agreed upon by the Company and the Purchaser or any such
        other
        participant;

      

      (iii) within
        5
        Business Days after request by the Purchaser, the information with respect
        to
        the Company (as originator) and each Third-Party Originator of the Mortgage
        Loans as required under Item 1110(a) and (b) of Regulation AB, a summary
        of the
        requirements of which has of the date hereof is attached hereto as Exhibit
        N for
        convenience of reference only, as determined by Purchaser in its sole
        discretion. If requested by the Purchaser, this will include information
        about
        the applicable credit-granting or underwriting criteria;

      

      (iv) within
        5
        Business Days after request by the Purchaser, 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 (i) the Company, if the Company is an originator of Mortgage
        Loans
        (including as an acquirer of Mortgage Loans from a Qualified Correspondent),
        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)(1)-(3)
        and (c) 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;

      

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      (v) within
        5
        Business Days after request by the Purchaser, information with respect to
        the
        Company (as servicer) as required by Item 1108(b) and (c) of Regulation AB,
        a
        summary of the requirements of which as of the date hereof is attached hereto
        as
        Exhibit N for convenience of reference only, as determined by Purchaser in
        its
        sole discretion. In the event that the Company has delegated any servicing
        responsibilities with respect to the Mortgage Loans to a Subservicer, the
        Company shall provide the information required pursuant to this clause with
        respect to the Subservicer;

      

      (vi) within
        5
        Business Days after request by the Purchaser, 

      

      (a)
        information regarding any legal proceedings pending (or known to be
        contemplated) against the Company (as originator and as servicer) and each
        other
        originator of the Mortgage Loans and each Subservicer as required by Item
        1117
        of Regulation AB, a summary of the requirements of which as of the date hereof
        is attached hereto as Exhibit N for convenience of reference only, as determined
        by Purchaser in its sole discretion,

      

      (b)
        information regarding affiliations with respect to the Company (as originator
        and as servicer) and each other originator of the Mortgage Loans and each
        Subservicer as required by Item 1119(a) of Regulation AB, a summary of the
        requirements of which as of the date hereof is attached hereto as Exhibit
        N for
        convenience of reference only, as determined by Purchaser in its reasonable
        discretion, and

      

      (c)
        information regarding relationships and transactions with respect to the
        Company
        (as originator and as servicer) and each other originator of the Mortgage
        Loans
        and each Subservicer as required by Item 1119(b) and (c) of Regulation AB,
        a
        summary of the requirements of which as of the date hereof is attached hereto
        as
        Exhibit N for convenience of reference only, as determined by Purchaser in
        its
        reasonable discretion;

      

      (vii) if
        so
        requested by the Purchaser, 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, or to any financial information included in any
        other disclosure provided under this Section 11.18, 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 Pass-Through Transfer. 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; 

      

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      (viii)
        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) (i) 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 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 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; 

      

      (ix)
        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, 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 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
        its reporting obligation under Item 6.02 of Form 8-K with respect to any
        class
        of asset-backed securities; 

      

      (x)
        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):

      

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      (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 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

      

      (xi)
        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.

      

      In
        connection with clause (x)(C) above, the Purchaser shall inform the Company
        of
        any additions, substitutions or repurchases of Mortgage Loans included in
        a
        Securitization Transaction originated or serviced by the Company, promptly
        upon
        the occurrence of any such event.

      

      In
        the
        event of a conflict or inconsistency between the terms of Exhibit N and the
        text
        of the applicable Item of Regulation AB as cited above, the text of Regulation
        AB, its adopting release and other public statements of the SEC shall
        control.

      

      The
        Company shall indemnify the Purchaser, each affiliate of the Purchaser, 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"), 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:

      

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      (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 this Section 11.18 by or on behalf of the Company, or provided
        under this Section 11.18 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 this Section 11.18,
        including any failure by the Company to identify pursuant to Section 11.19
        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
        3.01
        or in a writing furnished pursuant to Section 3.01(q) and made as of a date
        prior to the closing date of the related Pass-Through Transfer, 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
        3.01(q) 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
        11.18.

        

      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 above, 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.

      

      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

          
            

          

        

        
          
          

        

      

      18. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 11.19:

      

      Section
        11.19. Use
        of
        Subservicers and Subcontractors.

      

      (a) 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 (b) of this Section. 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 (d) of this Section. 

      

      (b) 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 3.01(p), 3.01(s), 6.04, 6.07 and 11.18
        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
        3.01(r) of this Agreement. The Company shall be responsible for obtaining
        from
        each Subservicer and delivering to the Purchaser 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 6.07 and any Annual Certification
        required under Section 6.04(b) as and when required to be
        delivered.

      

      (c) The
        Company shall promptly upon request provide to the Purchaser and any Depositor
        (or any designee of the Depositor, such as an 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.

      

      (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 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 6.07 and 11.18 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 Report and the other certificates required to be delivered by
        such
        Subservicer and such Subcontractor under Section 6.07, in each case as and
        when
        required to be delivered.

      

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      19. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 11.20:

      

      Section
        11.20. 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.

      

      20. The
        Agreement is hereby amended 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

              

      

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

       

      
        	
                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 

              	
                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan. 

              	 	
                Action
                  Code Key:
15=Bankruptcy,
30=Foreclosure,
                  60=PIF,
63=Substitution,
65=Repurchase, 70=REO 

              	
                2 

              
	
                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

              

      

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      
        	
                DELINQ_P&I_ADVANCE_AMT

              	
                The
                  current outstanding principal and interest advances made by
                  Servicer.

              	
                2

              	
                No
                  commas(,) or dollar signs ($)

              	
                11

              

      

      

      21. The
        Agreement is hereby amended as of the date hereof by adding the following
        new
        Exhibit F:

      

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      EXHIBIT
        F

      

      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 ($)

              

      

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      
        	
                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 ($)

              

      

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

       

      
        	
                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

              

      

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

       

      
        	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

              

      

      

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

       

      
        	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

              

      

      

      22. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit K:

      

      EXHIBIT
        K

      

      COMPANY’S
        OBLIGATIONS IN CONNECTION 

      WITH
        A
        RECONSTITUTION

      

      • The
        Company shall (i) possess the ability to service to a securitization documents;
        (ii) service on a “Scheduled/Scheduled” reporting basis (advancing through the
        liquidation of an REO Property), (iii) make compensating interest payments
        on
        payoffs and curtailments and (iv) remit and report to a Master Servicer in
        format acceptable to such Master Servicer by the 10th calendar day of each
        month.

      

      • The
        Company shall provide an acceptable annual certification (officer’s certificate)
        to the Master Servicer (as required by the Sarbanes-Oxley Act of 2002) as
        well
        as any other annual certifications required under the securitization documents
        (i.e. the annual statement as to compliance/annual independent certified
        public
        accountants’ servicing report due by March 1 of each year).

      

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      • The
        Company shall allow for the Purchaser, the Master Servicer or their designee
        to
        perform a review of audited financials and net worth of the
        Company.

      

      • The
        Company shall provide a Uniform Single Attestation Program certificate and
        Management Assertion as requested by the Master Servicer or the
        Purchaser.

      

      • The
        Company shall provide information on each Custodial Account as requested
        by the
        Master Servicer or the Purchaser, and each Custodial Accounts shall comply
        with
        the requirements for such accounts as set forth in the securitization
        documents.

      

      • The
        Company shall maintain its servicing system in accordance with the requirements
        of the Master Servicer.

       

      

      23. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit L:

      

      EXHIBIT
        L

      

      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”);

      

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      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.

      

      24. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit M:

      

      EXHIBIT
        M

      

      SUMMARY
        OF REGULATION AB

      SERVICING
        CRITERIA

      

      NOTE:
        This Exhibit M is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit M and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

      

      Item
        1122(d)

       

      (a) General
        servicing considerations.

       

      (1)
        Policies
        and procedures are instituted to monitor any performance or other triggers
        and
        events of default in accordance with the transaction agreements.

       

      (2)
        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.

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      (3)
        Any
        requirements in the transaction agreements to maintain a back-up servicer
        for
        the mortgage loans are maintained.

       

      (4)
        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.

       

      (b) Cash
        collection and administration.

       

      (1) 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.

       

      (2) Disbursements
        made via wire transfer on behalf of an obligor or
        to an
        investor are made only by authorized personnel.

       

      (3) 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.

       

      (4) 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.

       

      (5) 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.

       

      (6) Unissued
        checks are safeguarded so as to prevent unauthorized access.

       

      (7) 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.

       

      (c) Investor
        remittances and reporting.

       

      (1) 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.

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      (2) Amounts
        due to investors are allocated and remitted in accordance with timeframes,
        distribution priority and other terms set forth in the transaction
        agreements.

       

      (3) 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.

       

      (4) Amounts
        remitted to investors per the investor reports agree with cancelled checks,
        or
        other form of payment, or custodial bank statements.

       

      (d) Mortgage
        Loan administration.

       

      (1)
        Collateral
        or security on mortgage loans is maintained as required by the transaction
        agreements or related mortgage loan documents.

       

      (2) Mortgage
        loan and related documents are safeguarded as required by the transaction
        agreements.

       

      (3) 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.

       

      (4) 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.

       

      (5) The
        Servicer’s records regarding the mortgage loans agree with the Servicer’s
        records with respect to an obligor’s unpaid principal balance.

       

      (6) 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 mortgage
        loan documents.

       

      (7) 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.

       

      (8) 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).

       

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      (9) Adjustments
        to interest rates or rates of return for mortgage loans with variable rates
        are
        computed based on the related mortgage loan documents.

       

      (10) 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.

       

      (11) 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.

       

      (12) 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.

       

      (13) 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.

       

      (14) Delinquencies,
        charge-offs and uncollectable accounts are recognized and recorded in accordance
        with the transaction agreements.

       

      (15) 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.

      

      25. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit N:

       

      EXHIBIT
        N

      

      SUMMARY
        OF APPLICABLE REGULATION AB REQUIREMENTS

      

      NOTE:
        This Exhibit N is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit N and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

       

      Item
        1105(a)(1)-(3) and (c)

      

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      -Provide
        static pool information with respect to mortgage loans that were originated
        or
        purchased by the Company and which are of the same type as the Mortgage
        Loans.

       

      -Provide
        static pool information regarding delinquencies, cumulative losses and
        prepayments for prior securitized pools of the Company.

       

      -If
        the
        Company has less than 3 years experience securitizing assets of the same
        type as
        the Mortgage Loans, provide the static pool information by vintage origination
        years regarding loans originated or purchased by the Company, instead of
        by
        prior securitized pool. A vintage origination year represents mortgage loans
        originated during the same year.

       

      -Such
        static pool information shall be for the prior five years, or for so long
        as the
        Company has been originating or purchasing (in the case of data by vintage
        origination year) or securitizing (in the case of data by prior securitized
        pools) such mortgage loans if for less than five years.

       

      -The
        static pool information for each vintage origination year or prior securitized
        pool, as applicable, shall be presented in monthly increments over the life
        of
        the mortgage loans included in the vintage origination year or prior securitized
        pool.

       

      -Provide
        summary information for the original characteristics of the prior securitized
        pools or vintage origination years, as applicable and material, including:
        number of pool assets, original pool balance, weighted average initial loan
        balance, weighted average mortgage rate, weighted average and minimum and
        maximum FICO, product type, loan purpose, weighted average and minimum and
        maximum LTV, distribution of loans by mortgage rate, and geographic
        concentrations of 5% or more.

       

      

      Item
        1108(b) and (c)

      

      Provide
        the following information with respect to each servicer that will service,
        including interim service, 20% or more of the mortgage loans in any loan
        group
        in the securitization issued in the Pass-Through Transfer: 

       

      -a
        description of the Company’s form of organization;

       

      -a
        description of how long the Company has been servicing residential mortgage
        loans; a general discussion of the Company’s experience in servicing assets of
        any type as well as a more detailed discussion of the Company’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 Company’s portfolio of mortgage loans of the type similar to
        the Mortgage Loans and information on factors related to the Company that
        may be
        material to any analysis of the servicing of the Mortgage Loans or the related
        asset-backed securities, as applicable, including whether any default or
        servicing related performance trigger has occurred as to any other
        securitization due to any act or failure to act of the Company, whether any
        material noncompliance with applicable servicing criteria as to any other
        securitization has been disclosed or reported by the Company, and the extent
        of
        outsourcing the Company uses;

       

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

      -a
        description of any material changes to the Company’s policies or procedures in
        the servicing function it will perform under this Agreement and any
        Reconstitution Agreements for mortgage loans of the type similar to the Mortgage
        Loans during the past three years;

       

      -information
        regarding the Company’s financial condition to the extent that there is a
        material risk that the effect on one or more aspects of servicing resulting
        from
        such financial condition could have a material impact on the performance
        of the
        securities issued in the Pass-Through Transfer, or on servicing of mortgage
        loans of the same asset type as the Mortgage Loans;

       

      -any
        special or unique factors involved in servicing loans of the same type as
        the
        Mortgage Loans, and the Company’s processes and procedures designed to address
        such factors;

       

      -statistical
        information regarding principal and interest advances made by the Company
        on the
        Mortgage Loans and the Company’s overall servicing portfolio for the past three
        years; and

       

      -the
        Company’s process for handling delinquencies, losses, bankruptcies and
        recoveries, such as through liquidation of REO Properties, foreclosure, sale
        of
        the Mortgage Loans or workouts.

       

      Item
        1110(a)

      

      -Identify
        any originator or group of affiliated originators that originated, or is
        expected to originate, 10% or more of the mortgage loans in any loan group
        in
        the securitization issued in the Pass-Through Transfer.

       

      

      Item
        1110(b)

      

      Provide
        the following information with respect to any originator or group of affiliated
        originators that originated, or is expected to originate, 20% or more of
        the
        mortgage loans in any loan group in the securitization issued in the
        Pass-Through Transfer:

       

      -the
        Company’s form of organization; and

       

      -a
        description of the Company’s origination program and how long the Company has
        been engaged in originating residential mortgage loans, which description
        must
        include a discussion of the Company’s experience in originating mortgage loans
        of the same type as the Mortgage Loans and information regarding the size
        and
        composition of the Company’s origination portfolio as well as information that
        may be material to an analysis of the performance of the Mortgage Loans,
        such as
        the Company’s credit-granting or underwriting criteria for mortgage loans of the
        same type as the Mortgage Loans.

       

      

      Item
        1117

      

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

      -describe
        any legal proceedings pending against the Company or against any of its
        property, including any proceedings known to be contemplated by governmental
        authorities, that may be material to the holders of the securities issued
        in the
        Pass-Through Transfer.

       

      

      Item
        1119(a)

      

      -describe
        any affiliations of the Company, each other originator of the Mortgage Loans
        and
        each Subservicer with the sponsor, depositor, issuing entity, trustee, any
        originator, any other servicer, any significant obligor, enhancement or support
        provider or any other material parties related to the Pass-Through
        Transfer.

       

      

      Item
        1119(b)

      

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        entered into outside of the ordinary course of business or on terms other
        than
        those obtained in an arm’s length transaction with an unrelated third party,
        apart from the Pass-Through Transfer, between the Company, each other originator
        of the Mortgage Loans and each Subservicer, or their respective affiliates,
        and
        the sponsor, depositor or issuing entity or their respective affiliates,
        that
        exists currently or has existed during the past two years, that may be material
        to the understanding of an investor in the securities issued in the Pass-Through
        Transfer.

       

       

      Item
        1119(c)

      

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        involving or relating to the Mortgage Loans or the Pass-Through Transfer,
        including the material terms and approximate dollar amount involved, between
        the
        Company, each other originator of the Mortgage Loans and each Subservicer,
        or
        their respective affiliates and the sponsor, depositor or issuing entity
        or
        their respective affiliates, that exists currently or has existed during
        the
        past two years.

       

      26. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit O:

      

      EXHIBIT
        O

      

      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

              

      

       

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
Servicing
                    Criteria

                
	
                  Reference

                	
                  Criteria

                	
                   

                

        

      

      
        	
                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

              

      

       

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

         

      

      
        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
Servicing
                    Criteria

                
	
                  Reference

                	
                  Criteria

                	
                   

                

        

      

      
        	
                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

              

      

       

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

       

      
        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
Servicing
                    Criteria

                
	
                  Reference

                	
                  Criteria

                	
                   

                

        

      

      
        	
                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: 

              

      

      

      27. The
        Agreement is hereby amended as of the date hereof by adding the following
        new
        Exhibit P:

      

      EXHIBIT
        P

      

      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.

              

      

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

       

      
        	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

              

      

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

      

       

      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	 	 	 
	 	 	 	________________ 	(18b) 
	 	HUD Part B	 	 	 
	 	(19) Pool
                Insurance Proceeds	 	________________ 	(19) 
	 	(20) Proceeds
                from Sale of Acquired Property	 	________________ 	(20)

      

       

      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

       

      
        	 	(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

              
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

      

      28. Except
        as
        amended above, the Agreement shall continue to be in full force and effect
        in
        accordance with its terms.

      

      29. 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]

      

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      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
                  Purchaser

              
	 
 	 
 	 
 
	 	By:  	 
	 	Name: 	
                
  
	 	Title: 	 

      

       

      
        	 	 	 
	 	
                HOMEBANC
                  MORTGAGE
                  CORPORATION,
as
                  Company

              
	 
 	 
 	 
 
	 	By:  	 
	 	Name: 	
                
 
	 	Title: 	 

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H-4

       

      PROVIDENT
        SERVICING AGREEMENT

       

      

       

      

       

      

      EMC
        MORTGAGE CORPORATION 

      Purchaser,

      

      PROVIDENT
        FUNDING ASSOCIATES, L.P.

      Company,

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      Dated
        as
        of May 1, 2006

      

      

      

      

      

      (Fixed
        and Adjustable Rate Mortgage Loans)

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      TABLE
        OF CONTENTS

      

      
        	
                ARTICLE
                  I

              
	 	 	 
	 	 	 
	
                Section
                  1.01

              	
                Defined
                  Terms

              	
                2

              
	 	 	 
	
                ARTICLE
                  II

              
	 	 	 
	
                Section
                  2.01

              	
                Agreement
                  to Purchase

              	
                14

              
	
                Section
                  2.02

              	
                Purchase
                  Price

              	
                15

              
	
                Section
                  2.03

              	
                Servicing
                  of Mortgage Loans

              	
                15

              
	
                Section
                  2.04

              	
                Record
                  Title and Possession of Mortgage Files; Maintenance of Servicing
                  Files

              	
                15

              
	
                Section
                  2.05

              	
                Books
                  and Records

              	
                16

              
	
                Section
                  2.06

              	
                Transfer
                  of Mortgage Loans

              	
                17

              
	
                Section
                  2.07

              	
                Delivery
                  of Mortgage Loan Documents

              	
                17

              
	
                Section
                  2.08

              	
                Quality
                  Control Procedures

              	
                19

              
	
                Section
                  2.09

              	
                Near-term
                  Principal Prepayments; Near Term Payment Defaults

              	
                19

              
	
                Section
                  2.10

              	
                Modification
                  of Obligations

              	
                19

              
	 	 	 
	
                ARTICLE
                  III

              
	 	 	 
	
                Section
                  3.01

              	
                Representations
                  and Warranties of the Company

              	
                21

              
	
                Section
                  3.02

              	
                Representations
                  and Warranties as to Individual Mortgage Loans

              	
                24

              
	
                Section
                  3.03

              	
                Repurchase

              	
                33

              
	
                Section
                  3.04

              	
                Representations
                  and Warranties of the Purchaser

              	
                35

              
	 	 	 
	
                ARTICLE
                  IV

              
	 	 	 
	
                Section
                  4.01

              	
                Company
                  to Act as Servicer

              	
                36

              
	
                Section
                  4.02

              	
                Collection
                  of Mortgage Loan Payments

              	
                39

              
	
                Section
                  4.03

              	
                Realization
                  Upon Defaulted Mortgage Loans

              	
                40

              
	
                Section
                  4.04

              	
                Establishment
                  of Custodial Accounts; Deposits in Custodial Accounts

              	
                41

              
	
                Section
                  4.05

              	
                Permitted
                  Withdrawals from the Custodial Account

              	
                42

              
	
                Section
                  4.06

              	
                Establishment
                  of Escrow Accounts; Deposits in Escrow Accounts

              	
                43

              
	
                Section
                  4.07

              	
                Permitted
                  Withdrawals From Escrow Account

              	
                44

              
	
                Section
                  4.08

              	
                Payment
                  of Taxes, Insurance and Other Charges; Maintenance of Primary Mortgage
                  Insurance Policies; Collections Thereunder

              	
                45

              

      

       

       

      
        
          
          

        

        
          ii

          
            

          

        

        
          
          

        

      

       

      
        	
                Section
                  4.09

              	
                Transfer
                  of Accounts

              	
                46

              
	
                Section
                  4.10

              	
                Maintenance
                  of Hazard Insurance

              	
                46

              
	
                Section
                  4.11

              	
                Maintenance
                  of Mortgage Impairment Insurance Policy

              	
                47

              
	
                Section
                  4.12

              	
                Fidelity
                  Bond, Errors and Omissions Insurance

              	
                48

              
	
                Section
                  4.13

              	
                Title,
                  Management and Disposition of REO Property

              	
                48

              
	
                Section
                  4.14

              	
                Notification
                  of Maturity Date

              	
                50

              
	 	 	 
	
                ARTICLE
                  V

              
	 	 	 
	
                Section
                  5.01

              	
                Distributions

              	
                50

              
	
                Section
                  5.02

              	
                Statements
                  to the Purchaser

              	
                51

              
	
                Section
                  5.03

              	
                Monthly
                  Advances by the Company

              	
                53

              
	
                Section
                  5.04

              	
                Liquidation
                  Reports

              	
                53

              
	 	 	 
	
                ARTICLE
                  VI

              
	 	 	 
	
                Section
                  6.01

              	
                Assumption
                  Agreements

              	
                53

              
	
                Section
                  6.02

              	
                Satisfaction
                  of Mortgages and Release of Mortgage Files

              	
                54

              
	
                Section
                  6.03

              	
                Servicing
                  Compensation

              	
                55

              
	
                Section
                  6.04

              	
                Annual
                  Statement as to Compliance

              	
                56

              
	
                Section
                  6.05

              	
                Annual
                  Independent Certified Public Accountants’ Servicing Report

              	
                56

              
	
                Section
                  6.06

              	
                Purchaser’s
                  Right to Examine Company Records

              	
                56

              
	 	 	 
	
                ARTICLE
                  VII

              
	 	 	 
	
                Section
                  7.01

              	
                Company
                  Shall Provide Information as Reasonably Required

              	
                57

              
	 	 	 
	
                ARTICLE
                  VIII

              
	 	 	 
	
                Section
                  8.01

              	
                Indemnification;
                  Third Party Claims

              	
                58

              
	
                Section
                  8.02

              	
                Merger
                  or Consolidation of the Company

              	
                58

              
	
                Section
                  8.03

              	
                Limitation
                  on Liability of the Company and Others

              	
                59

              
	
                Section
                  8.04

              	
                Company
                  Not to Assign or Resign

              	
                59

              
	
                Section
                  8.05

              	
                No
                  Transfer of Servicing

              	
                59

              

      

       

       

      
        
          
          

        

        
          iii

          
            

          

        

        
          
          

        

      

       

      
        	
                ARTICLE
                  IX

              
	 	 	 
	
                Section
                  9.01

              	
                Events
                  of Default

              	
                61

              
	
                Section
                  9.02

              	
                Waiver
                  of Defaults

              	
                62

              
	 	 	 
	
                ARTICLE
                  X

              
	 	 	 
	
                Section
                  10.01

              	
                Termination

              	
                62

              
	
                Section
                  10.02

              	
                Termination
                  without cause

              	
                63

              
	
                Section
                  10.03

              	
                Survival

              	
                63

              
	 	 	 
	
                ARTICLE
                  XI

              
	 	 	 
	
                Section
                  11.01

              	
                Successor
                  to the Company

              	
                63

              
	
                Section
                  11.02

              	
                Amendment

              	
                64

              
	
                Section
                  11.03

              	
                Recordation
                  of Agreement

              	
                65

              
	
                Section
                  11.04

              	
                Governing
                  Law

              	
                65

              
	
                Section
                  11.05

              	
                Notices

              	
                65

              
	
                Section
                  11.06

              	
                Severability
                  of Provisions

              	
                66

              
	
                Section
                  11.07

              	
                Exhibits

              	
                66

              
	
                Section
                  11.08

              	
                General
                  Interpretive Principles

              	
                66

              
	
                Section
                  11.09

              	
                Reproduction
                  of Documents

              	
                67

              
	
                Section
                  11.10

              	
                Confidentiality
                  of Information

              	
                67

              
	
                Section
                  11.11

              	
                Recordation
                  of Assignment of Mortgage

              	
                67

              
	
                Section
                  11.12

              	
                Assignment
                  by Purchaser

              	
                68

              
	
                Section
                  11.13

              	
                No
                  Partnership

              	
                68

              
	
                Section
                  11.14

              	
                Execution:
                  Successors and Assigns

              	
                68

              
	
                Section
                  11.15

              	
                Entire
                  Agreement

              	
                68

              
	
                Section
                  11.16

              	
                No
                  Solicitation

              	
                68

              
	
                Section
                  11.17

              	
                Closing

              	
                69

              
	
                Section
                  11.18

              	
                Cooperation
                  of Company with Reconstitution

              	
                70

              
	
                Section
                  11.19

              	
                Monthly
                  Reporting with Respect to a Reconstitution

              	 

      

      

      EXHIBITS

      
        	
                A

              	
                Contents
                  of Mortgage File

              
	
                B

              	
                Custodial
                  Account Letter Agreement

              
	
                C

              	
                Escrow
                  Account Letter Agreement

              
	
                D

              	
                Form
                  of Assignment, Assumption and Recognition Agreement

              
	
                E

              	
                Form
                  of Trial Balance

              
	
                F

              	
                [reserved]

              
	
                G

              	
                Request
                  for Release of Documents and Receipt

              
	
                H

              	
                Company’s
                  Underwriting Guidelines

              
	
                I

              	
                Form
                  of Term Sheet

              
	
                J

              	
                Reconstituted
                  Mortgage Loan Reporting

              

      

      

      
        
          
          

        

        
          iv

          
            

          

        

        
          
          

        

      

       

      This
        is a
        Purchase, Warranties and Servicing Agreement, dated as of May 1, 2006 and
        is
        executed between EMC MORTGAGE CORPORATION, as Purchaser, with offices located
        at
2780
        Lake
        Vista Drive, Lewisville, Texas 75067
        (the
        "Purchaser"), and PROVIDENT
        FUNDING ASSOCIATES, L.P.,
        with
        offices located at 1633
        Bayshore Hwy, Suite 155, Burlingame, California 94010
        (the
        "Company").

      

      WITNESSETH
        :

      

      WHEREAS,
        the Purchaser has heretofore agreed to purchase from the Company and the
        Company
        has heretofore agreed to sell to the Purchaser, from time to time, certain
        Mortgage Loans on a servicing retained basis; 

      

      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 Mortgage Loan Schedule, which is annexed
        to
        the related Term Sheet; and

      

      WHEREAS,
        the Purchaser and the Company wish to prescribe the representations and
        warranties of the Company with respect to itself and the Mortgage Loans and
        the
        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 Purchaser and the Company 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) of prudent mortgage banking institutions which service
        mortgage loans of the same type as such Mortgage Loan in the jurisdiction
        where
        the related Mortgaged Property is located, and which are in accordance with
        Fannie Mae servicing practices and procedures, for MBS pool mortgages, as
        defined in the Fannie Mae Guides including future updates. 

      

      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.

      

      Agreement:
        This
        Purchase, Warranties and Servicing Agreement including all exhibits hereto,
        amendments hereof and supplements hereto.

      

      Appraised
        Value:
        With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the originator of the Mortgage Loan at the time of
        origination of the Mortgage Loan by an appraiser who met the requirements
        of the
        Company and Fannie Mae. 

      

      Assignment:
        An
        individual 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 of record the
        sale
        or transfer of the Mortgage Loan.

       

      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 State
        of
        New York or State of California, or (iii) a day on which banks in the State
        of
        New York or or State of California are authorized or obligated by law or
        executive order to be closed.

      

      Closing
        Date:
        With
        respect to any Mortgage Loan, the date stated on the related Term Sheet.
        

       

      Code: The
        Internal Revenue Code of 1986, or any successor statute thereto.

      

      Commission
        or SEC:
        The
        Securities and Exchange Commission.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      

      Company:
         Provident
        Funding Associates, L.P.,
        its
        successors in interest and assigns, as permitted by this Agreement.

      

      Company's
        Officer's Certificate:
        A
        certificate signed by the Chairman of the Board, President, any Vice President
        or Treasurer of Company stating the date by which Company expects to receive
        any
        missing documents sent for recording from the applicable recording
        office.

      

      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.

      

      Confirmation:
        The
        trade confirmation letter between the Purchaser and the Company which relates
        to
        the Mortgage Loans.

      

      Consumer
        Information:
         Information
        including, but not limited to, all personal information about Mortgagors
        that is
        supplied to the Purchaser by or on behalf of the Company.

      

      Co-op
        Lease:
        With
        respect to a Co-op Loan, the lease with respect to a dwelling unit occupied
        by
        the Mortgagor and relating to the stock allocated to the related dwelling
        unit.

      

      Co-op
        Loan:
        A
        Mortgage Loan secured by the pledge of stock allocated to a dwelling unit
        in a
        residential cooperative housing corporation and a collateral assignment of
        the
        related Co-op Lease.

      

      Current
        Appraised Value: With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the Company (by an appraiser who met the requirements
        of the
        Company and Fannie Mae) at the request of a Mortgagor for the purpose of
        canceling a Primary Mortgage Insurance Policy in accordance with federal,
        state
        and local laws and regulations or otherwise made at the request of the Company
        or Mortgagor.

      

      Current
        LTV: The
        ratio
        of the Stated Principal Balance of a Mortgage Loan to the Current Appraised
        Value of the Mortgaged Property.

      

      Custodial
        Account:
        Each
        separate demand account or accounts created and maintained pursuant to Section
        4.04 which shall be entitled "Provident
        Funding Associates, L.P.,
        in
        trust for the [Purchaser], Owner of Mortgage Loans" and shall be established
        in
        an Eligible Account, in the name of the Person that is the "Purchaser" with
        respect to the related Mortgage Loans.

       

      Custodian:
        With
        respect to any Mortgage Loan, the entity stated on the related Term Sheet,
        and
        its successors and assigns, as custodian for the Purchaser.

      

      Cut-off
        Date:
        With
        respect to any Mortgage Loan, the date stated on the related Term Sheet.
        

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      

      Delinquency
        Recognition Policies:
        The
        generally accepted industry standard that defines the proper means of reporting
        delinquency status (such as MBA versus OTS reporting methodology) and the
        processing standard for addressing residential mortgage loans of the same
        type
        as the Mortgage Loans at various stages throughout default (such as Fannie
        Mae
        Guide or FHLMC Guide standards. 

      

      Depositor:
        The
        depositor, as such term is defined in Regulation AB, with respect to any
        Securitization Transaction.

      

      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 related Remittance
        Date.

      

      Due
        Date:
        The day
        of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive
        of any days of grace, which is the first day of the month.

      

      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.

      

      Eligible
        Account:
        An
        account established and maintained: (i) within FDIC insured accounts created,
        maintained and monitored by the Company so that all funds deposited therein
        are
        fully insured, or (ii) as a trust account with the corporate trust department
        of
        a depository institution or trust company organized under the laws of the
        United
        States of America or any one of the states thereof or the District of Columbia
        which is not affiliated with the Company (or any sub-servicer) or (iii) with
        an
        entity which is an institution whose deposits are insured by the FDIC, the
        unsecured and uncollateralized long-term debt obligations of which shall
        be
        rated “A2” or higher by Standard & Poor’s and “A” or higher by Fitch, Inc.
        or one of the two highest short-term ratings by any applicable Rating Agency,
        and which is either (a) a federal savings association duly organized, validly
        existing and in good standing under the federal banking laws, (b) an institution
        duly organized, validly existing and in good standing under the applicable
        banking laws of any state, (c) a national banking association under the federal
        banking laws, or (d) a principal subsidiary of a bank holding company, or
        (iv)
        if ownership of the Mortgage Loans is evidenced by mortgaged-backed securities,
        the equivalent required ratings of each Rating Agency, and held such that
        the
        rights of the Purchaser and the owner of the Mortgage Loans shall be fully
        protected against the claims of any creditors of the Company (or any
        sub-servicer) and of any creditors or depositors of the institution in which
        such account is maintained or (v) in a separate non-trust account without
        FDIC
        or other insurance in an Eligible Institution. In the event that a Custodial
        Account is established pursuant to clause (iii), (iv) or (v) of the preceding
        sentence, the Company shall provide the Purchaser with written notice on
        the
        Business Day following the date on which the applicable institution fails
        to
        meet the applicable ratings requirements.

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

      

      Eligible
        Institution:
        An
        institution having (i) the highest short-term debt rating, and one of the
        two
        highest long-term debt ratings of each Rating Agency; or (ii) with respect
        to
        any Custodial Account, an unsecured long-term debt rating of at least one
        of the
        two highest unsecured long-term debt ratings of each Rating Agency.

      

      Equity
        Take-Out Refinanced Mortgage Loan:
        A
        Refinanced Mortgage Loan the proceeds of which were in excess of the outstanding
        principal balance of the existing mortgage loan as defined in the Fannie
        Mae
        Guide(s). 

      

      Escrow
        Account:
        Each
        separate trust account or accounts created and maintained pursuant to Section
        4.06 which shall be entitled "Provident
        Funding Associates, L.P.,
        in
        trust for the [Purchaser], Owner of Adjustable Rate Mortgage Loans, and various
        Mortgagors" and shall be established in an Eligible Account, in the name
        of the
        Person that is the "Purchaser" with respect to the related Mortgage
        Loans.

      

      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.

      

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

      

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

      

      Fannie
        Mae Guide(s):
        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.

      

      FHLMC:
        The
        Federal Home Loan Mortgage Corporation, or any successor thereto.

      

      FHLMC
        Guide:
        The
        FHLMC Single Family Seller/Servicer Guide and all amendments or additions
        thereto.

      

      Fidelity
        Bond:
        A
        fidelity bond to be maintained by the Company pursuant to Section
        4.12.

      

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

      

      First
        Remittance Date:
        With
        respect to any Mortgage Loan, the Remittance Date occurring in the month
        following the month in which the related Closing Date occurs.

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      

      GAAP:
        Generally accepted accounting principles, consistently applied.

      

      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 the interest rate thereon.

      

      Initial
        Rate Cap: As
        to
        each adjustable rate Mortgage Loan, where applicable, the maximum increase
        or
        decrease in the Mortgage Interest Rate on the first Adjustment
        Date.

      

      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 over
        the
        term of such Mortgage Loan. 

      

      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.

      

      Loan-to-Value
        Ratio or LTV:
        With
        respect to any Mortgage Loan, the ratio of the original outstanding principal
        amount of the Mortgage Loan, to (i) the Appraised Value of the Mortgaged
        Property as of the Origination Date with respect to a Refinanced Mortgage
        Loan,
        and (ii) the lesser of the Appraised Value of the Mortgaged Property as of
        the
        Origination Date or the purchase price of the Mortgaged Property with respect
        to
        all other Mortgage Loans.

      

      Margin:
        With
        respect to each adjustable rate Mortgage 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, as set forth in the Mortgage
        Loan
        Schedule.

      

      Master
        Servicer:
        With
        respect to any Securitization Transaction, the “master servicer,” if any,
        identified in the related transaction documents.

      

      Monthly
        Advance:
        The
        aggregate of the advances made by the Company on any Remittance Date pursuant
        to
        Section 5.03.

      

      Monthly
        Payment:
        The
        scheduled monthly payment of principal and interest on a Mortgage Loan which
        is
        payable by a Mortgagor under the related Mortgage Note.

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

      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
        File:
        The
        mortgage documents pertaining to a particular Mortgage Loan which are specified
        in Exhibit A hereto and any additional documents required to be added to
        the
        Mortgage File pursuant to this Agreement.

      

      Mortgage
        Impairment Insurance Policy:
        A
        mortgage impairment or blanket hazard insurance policy as described in Section
        4.11.

      

      Mortgage
        Interest Rate:
        The
        annual rate at which interest accrues on any Mortgage Loan, which may be
        adjusted from time to time for an adjustable rate Mortgage Loan, in accordance
        with the provisions of the related 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 attached to the related Term Sheet, which Mortgage
        Loan
        includes 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, excluding
        replaced or repurchased mortgage loans.

      

      Mortgage
        Loan Documents:
        The
        documents listed in
        Exhibit A.

      

      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:
        The
        schedule of Mortgage Loans annexed to the related Term Sheet, such schedule
        setting forth the following information with respect to each Mortgage Loan
        in
        the related Mortgage Loan Package:

      

      (1) the
        Company's Mortgage Loan identifying number;

      

      (2) the
        Mortgagor's first and last name;

      

      (3)
         the
        street address of the Mortgaged Property including the city, state and zip
        code;

      

      (4) a
        code
        indicating whether the Mortgaged Property is owner-occupied, a second home
        or an
        investor property;

      

      (5) the
        type
        of residential property constituting the Mortgaged Property;

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

      
        
          (6)
            the
            original months to maturity of the Mortgage Loan;

        

      

      

      (7) the
        remaining months to maturity from the related Cut-off Date, based on the
        original amortization schedule and, if different, the maturity expressed
        in the
        same manner but based on the actual amortization schedule;

      

      (8) the
        Sales
        Price, if applicable, Appraised Value and Loan-to-Value Ratio, at
        origination;

      

      (9) the
        Mortgage Interest Rate as of origination and as of the related Cut-off Date;
        with respect to each adjustable rate Mortgage Loan, the initial Adjustment
        Date,
        the next Adjustment Date immediately following the related Cut-off Date,
        the
        Index, the Margin, the Initial Rate Cap, if any, Periodic Rate Cap, if any,
        minimum Mortgage Interest Rate under the terms of the Mortgage Note and the
        Lifetime Rate Cap;

      

      (10) the
        Origination Date of the Mortgage Loan;

      

      (11) the
        stated maturity date;

      

      (12) the
        amount of the Monthly Payment at origination;

      

      (13) the
        amount of the Monthly Payment as of the related Cut-off Date;

      

      (14) the
        original principal amount of the Mortgage Loan; 

      

      (15) the
        scheduled Stated Principal Balance of the Mortgage Loan as of the close of
        business on the related Cut-off Date, after deduction of payments of principal
        due on or before the related Cut-off Date whether or not collected;

      

      (16)
         a
        code
        indicating the purpose of the Mortgage Loan (i.e., purchase, rate and term
        refinance, equity take-out refinance); 

      

      (17)
         a
        code
        indicating the documentation style (i.e. full, alternative, etc.); 

      

      (18) the
        number of times during the twelve (12) month period preceding the related
        Closing Date that any Monthly Payment has been received after the month of
        its
        scheduled due date;

      

      (19) the
        date
        on which the first payment is or was due; 

      

      
        	 	
                (20)

              	
                a
                  code indicating whether or not the Mortgage Loan is the subject
                  of a
                  Primary Mortgage Insurance Policy and the name of the related insurance
                  carrier; 

              

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      (21)
         a
        code
        indicating whether or not the Mortgage Loan is currently convertible and
        the
        conversion spread; 

      

      (22)
         the
        last
        Due Date on which a Monthly Payment was actually applied to the unpaid principal
        balance of the Mortgage Loan.

      

      (23)
         product
        type (i.e. fixed, adjustable, 3/1, 5/1, etc.); 

      
 

      
        
          (24)
            credit
            score and/or mortgage score, if applicable;

        

      

      

      (25) a
        code
        indicating whether or not the Mortgage Loan is the subject of a Lender Primary
        Mortgage Insurance Policy and the name of the related insurance carrier and
        the
        Lender Paid Mortgage Insurance Rate; 

      

      (26) a
        code
        indicating whether or not the Mortgage Loan has a prepayment penalty and
        if so,
        the amount and term thereof;

      

      (27) the
        Current Appraised Value of the Mortgage Loan and Current LTV, if
        applicable;

      

      (28) whether
        such Mortgage Loan is a “Home Loan”, “Covered Home Loan”, “Manufactured Housing”
or “Home Improvement Loan” as defined in the
        New
        Jersey Home Ownership Security Act of 2002; and

      

      
        
          (29)
            whether
            the Mortgage Loan has a mandatory arbitration clause.

        

      

      

      With
        respect to the Mortgage Loans in the aggregate, the Mortgage Loan Schedule
        attached to the related Term Sheet shall set forth the following information,
        as
        of the related Cut-off Date:

      

      (1) the
        number of Mortgage Loans;

      

      (2) the
        current aggregate outstanding principal balance of the Mortgage
        Loans;

      

      (3) the
        weighted average Mortgage Interest Rate of the Mortgage Loans; 

      

      (4) the
        weighted average maturity of the Mortgage Loans; and

      

      (5)
         the
        weighted average months to next Adjustment Date;

       

      Mortgage
        Note:
        The
        note or other evidence of the indebtedness of a Mortgagor secured by a
        Mortgage.

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

      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; except
        that
        with respect to real property located in jurisdictions in which the use of
        leasehold estates for residential properties is a widely-accepted practice,
        a
        leasehold estate of the Mortgage, the term of which is equal to or longer
        than
        the term of the Mortgage. 

      

      Mortgagor:
        The
        obligor on a Mortgage Note. 

      

      Nonrecoverable
        Advance:
        Any
        portion of a Monthly Advance or Servicing Advance previously made or proposed
        to
        be made by the Company pursuant to this Agreement, that, in the good faith
        judgment of the Company, will not or, in the case of a proposed advance,
        would
        not, be ultimately recoverable by it from the related Mortgagor or the related
        Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds or otherwise
        with respect to the related Mortgage Loan.

      

      OCC:
        Office
        of the Comptroller of the Currency, or any successor thereto.

      

      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 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 party on behalf
        of
        whom the opinion is being given, reasonably acceptable to the
        Purchaser.

      

      Origination
        Date:
        The
        date on which a Mortgage Loan funded, which date shall not, in connection
        with a
        Refinanced Mortgage Loan, be the date of the funding of the debt being
        refinanced, but rather the closing of the debt currently outstanding under
        the
        terms of the Mortgage Loan Documents. 

      

      OTS:
        Office
        of Thrift Supervision, or any successor thereto.

      

      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 set forth in the related
        Mortgage Note and the related Mortgage Loan Schedule.

      

      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; 

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

      
        	 	
                (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
                  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 of all of the Mortgage Loans and 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 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. 

              

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

      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 or if such investment or security is
        purchased at a price greater than 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
        Charge:
        Any
        prepayment premium, penalty or charge payable by a Mortgagor in connection
        with
        any Principal Prepayment on a Mortgage Loan pursuant to the terms of the
        related
        Mortgage Note.

      

      Prepayment
        Interest Shortfall:
        With
        respect to any Remittance Date, for each Mortgage Loan that was the subject
        of a
        Principal Prepayment during the related Prepayment Period, an amount equal
        to
        the excess of one month’s interest at the applicable Mortgage Loan Remittance
        Rate on the amount of such Principal Prepayment over the amount of interest
        (adjusted to the Mortgage Loan Remittance Rate) actually paid by the related
        Mortgagor with respect to such Prepayment Period.

      

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

      

      Primary
        Mortgage Insurance Policy:
        Each
        primary policy of mortgage insurance represented to be in effect pursuant
        to
        Section 3.02(hh), or any replacement policy therefor obtained by the Company
        pursuant to Section 4.08.

      

      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 (Northeast Edition).

      

      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
        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.

      

      Purchase
        Price:
        As
        defined in Section 2.02.

      

      Purchaser:
        EMC
        Mortgage Corporation, its successors in interest and assigns.

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      

      Qualified
        Appraiser:
        An
        appraiser, duly appointed by the Company, who had no interest, direct or
        indirect in the related 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 such appraiser and the appraisal made by such
        appraiser both satisfy the requirements of Title XI of FIRREA and the
        regulations promulgated thereunder and the requirements of Fannie Mae, all
        as in
        effect on the date the Mortgage Loan was originated.

      

      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.

      

      Qualified
        Insurer:
        An
        insurance company duly qualified as such under the laws of the states in
        which
        the related Mortgaged Property is 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 or FHLMC. 

      

      Rating
        Agency:
        Standard & Poor's, Fitch, Inc. or, in the event that some or all of the
        ownership of the Mortgage Loans is evidenced by mortgage-backed securities,
        the
        nationally recognized rating agencies issuing ratings with respect to such
        securities, if any.

       

      Refinanced
        Mortgage Loan:
        A
        Mortgage Loan which was made to a Mortgagor who owned the Mortgaged Property
        prior to the origination of such Mortgage Loan and the proceeds of which
        were
        used in whole or part to satisfy an existing mortgage.

      

      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.

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      

      

      REMIC:
        A "real
        estate mortgage investment conduit," as such term is 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 the related provisions and
        regulations promulgated thereunder, as the foregoing may be in effect from
        time
        to time.

      

      Remittance
        Date:
        The
        18th day of any month, beginning with the First Remittance Date, 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 Company of any REO Property.

      

      REO
        Disposition Proceeds:
        Amounts
        received by the Company in connection with a related REO
        Disposition.

      

      REO
        Property:
        A
        Mortgaged Property acquired by the Company on behalf of the Purchaser as
        described in Section 4.13.

      

      Repurchase
        Price:
        With
        respect to any Mortgage Loan, a price equal to (i) the product of the greater
        of
        100% or the percentage of par as stated in the Confirmation multiplied by
        the
        Stated Principal
        Balance
        of such Mortgage Loan on the repurchase date, plus
        (ii)
        interest on such outstanding principal balance at the Mortgage Loan Remittance
        Rate from the last date through which interest has been paid and distributed
        to
        the Purchaser to the end of the month of repurchase, plus, (iii) third party
        expenses incurred in connection with the transfer of the Mortgage Loan being
        repurchased; 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.

      

      SAIF:
        The
        Savings Association Insurance Fund, or any successor thereto.

      

      Sales
        Price: With
        respect to any Mortgage Loan the proceeds of which were used by the Mortgagor
        to
        acquire the related Mortgaged Property, the amount paid by the related Mortgagor
        for such Mortgaged Property.

      

      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.

      
        
          
          

        

        
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      Servicing
        Advances:
        All
        customary, reasonable and necessary "out of pocket" costs and expenses
        (including reasonable attorneys' 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, 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 Company specifies
        the
        Mortgage Loan(s) to which such expenses relate and, upon Purchaser’s request,
        provides documentation supporting such expense (which documentation would
        be
        acceptable to Fannie Mae), and provided further that any such enforcement,
        administrative or judicial proceeding does not arise out of a breach of any
        representation, warranty or covenant of the Company hereunder), (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, (e) any expenses reasonably
        sustained by the Company with respect to the liquidation of the Mortgaged
        Property in accordance with the terms of this Agreement and (f) compliance
        with
        the obligations under Section 4.08.

      

      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
        M
        for
        convenience of reference only. In the event of a conflict or inconsistency
        between the terms of Exhibit
        M
        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
        M).

      

      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 computed. The obligation
        of
        the Purchaser to pay the Servicing Fee is limited to, and the Servicing Fee
        is
        payable solely from, the interest portion of such Monthly Payment collected
        by
        the Company, or as otherwise provided under Section 4.05 and in accordance
        with
        the Fannie Mae Guide(s). Any fee payable to the Company for administrative
        services related to any REO Property as described in Section 4.13 shall be
        payable from Liquidation Proceeds of the related REO Property.

      

       

      
        
          
          

        

        
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      Servicing
        Fee Rate:
        As set
        forth in the Term Sheet.

      

      Servicing
        File:
        With
        respect to each Mortgage Loan, the file retained by the Company consisting
        of
        originals of all documents in the Mortgage File which are not delivered to
        the
        Purchaser and copies of the Mortgage Loan Documents listed in Exhibit A,
        the
        originals of which are delivered to the Purchaser or its designee pursuant
        to
        Section 2.04.

      

      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 as of any date of determination, (i) the principal balance
        of
        such Mortgage Loan at the 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 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.

      

      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.
        Any subservicer shall meet the qualifications set forth in Section
        4.01.

      

      Subservicing
        Agreement:
        An
        agreement between the Company and a Subservicer, if any, for the servicing
        of
        the Mortgage Loans.

      

      Term
        Sheet:
        A
        supplemental agreement in the form attached hereto as Exhibit I which shall
        be
        executed and delivered by the Company and the Purchaser to provide for the
        sale
        and servicing pursuant to the terms of this Agreement of the Mortgage Loans
        listed on Schedule I attached thereto, which supplemental agreement shall
        contain certain specific information relating to such sale of such Mortgage
        Loans and may contain additional covenants relating to such sale of such
        Mortgage Loans.

      

      
        
          
          

        

        
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        Third-Party
          Originator:
          Each
          Person, other than a Qualified Correspondent, that originated Mortgage
          Loans
          acquired by the Company.

      

      

      ARTICLE
        II

      

      PURCHASE
        OF MORTGAGE LOANS; SERVICING OF MORTGAGE LOANS;

      RECORD
        TITLE AND POSSESSION OF MORTGAGE FILES;

      BOOKS
        AND RECORDS; CUSTODIAL AGREEMENT;

      DELIVERY
        OF MORTGAGE LOAN DOCUMENTS

      

      Section
        2.01 Agreement
        to Purchase.

      

      The
        Company agrees to sell and the Purchaser agrees to purchase the Mortgage
        Loans
        having an aggregate Stated Principal Balance on the related Cut-off Date
        set
        forth in the related Term Sheet in an amount as set forth in the Confirmation,
        or in such other amount as agreed by the Purchaser and the Company as evidenced
        by the actual aggregate Stated Principal Balance of the Mortgage Loans accepted
        by the Purchaser on the related Closing Date, with servicing retained by
        the
        Company. The Company shall deliver the related Mortgage Loan Schedule attached
        to the related Term Sheet for the Mortgage Loans to be purchased on the related
        Closing Date to the Purchaser at least two (2) Business Days prior to the
        related Closing Date. The Mortgage Loans shall be sold pursuant to this
        Agreement, and the related Term Sheet shall be executed and delivered on
        the
        related Closing Date.

      

      Section
        2.02 Purchase
        Price.

      

      The
        Purchase Price for each Mortgage Loan shall be the percentage of par as stated
        in the Confirmation (subject to adjustment as provided therein), multiplied
        by
        the Stated Principal Balance, as of the related Cut-off Date, of the Mortgage
        Loan listed on the related Mortgage Loan Schedule attached to the related
        Term
        Sheet, after application of scheduled payments of principal due on or before
        the
        related Cut-off Date whether or not collected. 

      

      In
        addition to the Purchase Price as described above, the Purchaser shall pay
        to
        the Company, at closing, accrued interest on the Stated Principal Balance
        of
        each Mortgage Loan as of the related Cut-off Date at the Mortgage Loan
        Remittance Rate of each Mortgage Loan from the related Cut-off Date through
        the
        day prior to the related Closing Date, inclusive.

      

      The
        Purchase Price plus accrued interest as set forth in the preceding paragraph
        shall be paid on the related Closing Date by wire transfer of immediately
        available funds.

      

      Purchaser
        shall be entitled to (1) all scheduled principal due after the related Cut-off
        Date, (2) all other recoveries of principal collected on or 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 Company or any successor
        servicer after the related Cut-off Date shall belong to the Company), and
        (3)
        all payments of interest on the Mortgage Loans net of applicable Servicing
        Fees
        (minus that portion of any such payment which is allocable to the period
        prior
        to the related Cut-off Date). The outstanding 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,
        together with any unscheduled principal prepayments collected prior to the
        related Cut-off Date; provided, however, that 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 shall be the property of the Purchaser. The Company 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 Company
        to the
        Purchaser.

      
        
          
          

        

        
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      Section
        2.03 Servicing
        of Mortgage Loans.

      

      Simultaneously
        with the execution and delivery of each Term Sheet, the Company does hereby
        agree to directly service the Mortgage Loans listed on the related Mortgage
        Loan
        Schedule attached to the related Term Sheet subject to the terms of this
        Agreement and the related Term Sheet. The rights of the Purchaser to receive
        payments with respect to the related Mortgage Loans shall be as set forth
        in
        this Agreement.

      

      Section
        2.04 Record
        Title and Possession of Mortgage Files; Maintenance of Servicing
        Files.

      

      As
        of the
        related Closing Date, the Company sold, transferred, assigned, set over and
        conveyed to the Purchaser, without recourse, on a servicing retained basis,
        and
        the Company hereby acknowledges that the Purchaser has, but subject to the
        terms
        of this Agreement and the related Term Sheet, all the right, title and interest
        of the Company in and to the Mortgage Loans. Company will deliver the Mortgage
        Files to the Custodian designated by Purchaser, on or before the related
        Closing
        Date, at the expense of the Company. The Company shall maintain a Servicing
        File
        consisting of a copy of the contents of each Mortgage File and the originals
        of
        the documents in each Mortgage File not delivered to the Purchaser. The
        Servicing File shall contain all documents necessary to service the Mortgage
        Loans. The possession of each 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.
        From the related Closing Date, the ownership of each Mortgage Loan, including
        the Mortgage Note, the Mortgage, the contents of the related Mortgage File
        and
        all rights, benefits, proceeds and obligations arising therefrom or in
        connection therewith, has been vested in the Purchaser. 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 Company
        shall be received and held by the Company in trust for the benefit of the
        Purchaser as the owner of the Mortgage Loans. Any portion of the Mortgage
        Files
        retained by the Company shall be appropriately identified in the Company's
        computer system to clearly reflect the ownership of the Mortgage Loans by
        the
        Purchaser. The Company shall release its custody of the contents of the Mortgage
        Files only in accordance with written instructions of the Purchaser, except
        when
        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
        or
        Loans with respect thereto pursuant to this Agreement and the related Term
        Sheet, such written instructions shall not be required.

      
        
          
          

        

        
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      Section
        2.05  Books
        and Records.

      

      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 the Mortgage Loans that shall be appropriately identified in
        the
        Company's computer system to clearly reflect the ownership of the 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 FHLMC,
        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 of any condominium project as required by Fannie Mae or
        FHLMC, 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 Company
        may be in the form of microfilm or microfiche.

      

      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 a Mortgage Loan and
        thereafter in accordance with applicable laws and regulations.

      

      In
        addition to the foregoing, Company shall provide to any supervisory agents
        or
        examiners that regulate Purchaser, including but not limited to, the OTS,
        the
        FDIC and other similar entities, access, during normal business hours, upon
        reasonable advance notice to Company and without cost to Company or such
        supervisory agents or examiners, to any documentation regarding the Mortgage
        Loans that may be required by any applicable regulator.

      

      Section
        2.06. Transfer
        of Mortgage Loans.

      

      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 any Mortgage Loan unless a notice of the transfer
        of such Mortgage Loan has been delivered to the Company in accordance with
        this
        Section 2.06 and the books and records of the Company 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, provided,
        however, that the transferee will not be deemed to be a Purchaser hereunder
        binding upon the Company unless such transferee shall agree in writing to
        be
        bound by the terms of this Agreement and an original counterpart of the
        instrument of transfer in an Assignment and Assumption of this Agreement
        substantially in the form of Exhibit D hereto executed by the transferee
        shall
        have been delivered to the Company. 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 the previous Purchaser shall be released from its obligations
        hereunder with respect to the Mortgage Loans sold or
        transferred.

      
        
          
          

        

        
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      Section
        2.07 Delivery
        of Mortgage Loan Documents.

      

      The
        Company shall deliver and release to the Purchaser or its designee the Mortgage
        Loan Documents in accordance with the terms of this Agreement and the related
        Term Sheet. The documents enumerated as items (1), (2), (3), (4), (5), (6),
        (7),
        (8), (9) and (16) in Exhibit A hereto shall be delivered by the Company to
        the
        Purchaser or its designee no later than three (3) Business Days prior to
        the
        related Closing Date pursuant to a bailee letter agreement. All other documents
        in Exhibit A hereto, together with all other documents executed in connection
        with the Mortgage Loan that Company may have in its possession, shall be
        retained by the Company in trust for the Purchaser. If the Company cannot
        deliver the original recorded Mortgage Loan Documents or the original policy
        of
        title insurance, including riders and endorsements thereto, on the related
        Closing Date, the Company shall, promptly upon receipt thereof and in any
        case
        not later than 120 days from the related Closing Date, deliver such original
        documents, including original recorded documents, to the Purchaser or its
        designee (unless the Company is delayed in making such delivery by reason
        of the
        fact that such documents shall not have been returned by the appropriate
        recording office). If delivery is not completed within 120 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, Company shall
        deliver such document to Purchaser, or its designee, within such time period
        as
        specified in a Company's Officer's Certificate. In the event that documents
        have
        not been received by the date specified in the Company's Officer's Certificate,
        a subsequent Company's Officer's Certificate shall be delivered by such date
        specified in the prior Company's Officer's Certificate, stating a revised
        date
        for receipt of documentation. The procedure shall be repeated until the
        documents have been received and delivered. 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 Company shall continue to use its best efforts to effect delivery as
        soon as
        possible thereafter, provided that if such documents are not delivered by
        the
        270th day from the date of the related Closing Date, the Company shall
        repurchase the related Mortgage Loans at the Repurchase Price in accordance
        with
        Section 3.03 hereof.

      

      The
        Company shall pay all initial recording fees, if any, for the assignments
        of
        mortgage and any other fees in connection with the transfer of all original
        documents to the Purchaser or its designee. Company shall prepare, in recordable
        form, all assignments of mortgage necessary to assign the Mortgage Loans
        to
        Purchaser, or its designee. Company shall be responsible for recording the
        assignments of mortgage.

      
        
          
          

        

        
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      Company
        shall provide an original or duplicate original of the title insurance policy
        to
        Purchaser or its designee within ninety (90) days of the receipt of the recorded
        documents (required for issuance of such policy) from the applicable recording
        office.

      

      Any
        review by the Purchaser, or its designee, of the Mortgage Files shall in
        no way
        alter or reduce the Company's obligations hereunder.

      

      If
        the
        Purchaser or its designee discovers any defect with respect to a Mortgage
        File,
        the Purchaser shall, or shall cause its designee to, give written specification
        of such defect to the Company which may be given in the exception report
        or the
        certification delivered pursuant to this Section 2.07, or otherwise in writing
        and the Company shall cure or repurchase such Mortgage Loan in accordance
        with
        Section 3.03.

      

      The
        Company shall 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 Section 4.01 or 6.01 within
        one
        week of their execution; provided, however, that the Company shall provide
        the
        Purchaser, or its designee, with a certified true copy of any such document
        submitted for recordation within one week 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 (60) days of its submission for
        recordation.

      

      From
        time
        to time the Company may have a need for Mortgage Loan Documents to be released
        from Purchaser, or its designee. Purchaser shall, or shall cause its designee,
        upon the written request of the Company, within ten (10) Business Days, deliver
        to the Company, any requested documentation previously delivered to Purchaser
        as
        part of the Mortgage File, provided that such documentation is promptly returned
        to Purchaser, or its designee, when the Company no longer requires possession
        of
        the document, and provided that during the time that any such documentation
        is
        held by the Company, such possession is in trust for the benefit of Purchaser.
        Company shall indemnify Purchaser, and its designee, from and against any
        and
        all losses, claims, damages, penalties, fines, forfeitures, costs and expenses
        (including court costs and reasonable attorney's fees) resulting from or
        related
        to the loss, damage, or misplacement of any documentation delivered to Company
        pursuant to this paragraph.

      

      Section
        2.08 Quality
        Control Procedures.

      

      The
        Company 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 loan production
        and servicing activities. The program is to ensure that the Mortgage Loans
        are
        originated and 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.

      
        
          
          

        

        
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      Section
        2.09
        Near-term Principal Prepayments; Near Term Payment Defaults

      

      In
        the
        event any Principal Prepayment is made by a Mortgagor on or prior to three
        months after the related Closing Date], the Company shall remit to the Purchaser
        an amount equal to the excess, if any, of the Purchase Price Percentage over
        par
        multiplied by the amount of such Principal Prepayment. Such remittance shall
        be
        made by the Company to Purchaser no later than the third Business Day following
        receipt of such Principal Prepayment by the Company.

      

      Unless
        otherwise set forth in the related Term Sheet, in the event either of the
        first
        three (3) scheduled Monthly Payments which are due under any Mortgage Loan
        after
        the related Cut-off Date are not made during the month in which such Monthly
        Payments are due, then not later than five (5) Business Days after notice
        to the
        Company by Purchaser (and at Purchaser’s sole option), the Company, shall
        repurchase such Mortgage Loan from the Purchaser pursuant to the repurchase
        provisions contained in this Subsection 3.03.

      

      

      Section
        2.10  Modification
        of Obligations. 

      

      Purchaser
        may, without any notice to Company, extend, compromise, renew, release, change,
        modify, adjust or alter, by operation of law or otherwise, any of the
        obligations of the Mortgagors or other persons obligated under a Mortgage
        Loan
        without releasing or otherwise affecting the obligations of Company under
        this
        Agreement, or with respect to such Mortgage Loan, except to the extent
        Purchaser’s extension, compromise, release, change, modification, adjustment, or
        alteration affects Company’s ability to collect the Mortgage Loan or realize on
        the security of the Mortgage, but then only to the extent such action has
        such
        effect.

      

      
        
          
          

        

        
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      ARTICLE
        III

      

      REPRESENTATIONS
        AND WARRANTIES OF

      THE
        COMPANY; REPURCHASE; REVIEW OF MORTGAGE LOANS

      

      Section
        3.01 Representations
        and Warranties of the Company. 

      

      The
        Company represents, warrants and covenants to the Purchaser that, as of the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Company is a corporation, duly organized, validly existing and in good standing
        under the laws of the State of California and has all licenses necessary
        to
        carry out its business as now being conducted, and is licensed and qualified
        to
        transact business in and is in good standing under the laws of each state
        in
        which any Mortgaged Property is located or is otherwise exempt under applicable
        law from such licensing or qualification or is otherwise not required under
        applicable law to effect such licensing or qualification and no demand for
        such
        licensing or qualification has been made upon such Company by any such state,
        and in any event such Company is in compliance with the laws of any 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
        Company has the full power and authority and legal right to hold, transfer
        and
        convey each Mortgage Loan, to sell each Mortgage Loan and to execute, deliver
        and perform, and to enter into and consummate all transactions contemplated
        by
        this Agreement and the related Term Sheet and to conduct its business as
        presently conducted, has duly authorized the execution, delivery and performance
        of this Agreement and the related Term Sheet and any agreements contemplated
        hereby, has duly executed and delivered this Agreement and the related Term
        Sheet, and any agreements contemplated hereby, and this Agreement and the
        related Term Sheet and each Assignment to the Purchaser and any agreements
        contemplated hereby, constitutes a legal, valid and binding obligation of
        the
        Company, enforceable against it in accordance with its terms, and all requisite
        corporate action has been taken by the Company to make this Agreement and
        the
        related Term Sheet and all agreements contemplated hereby valid and binding
        upon
        the Company in accordance with their terms; 

      

      (c)
        Neither the execution and delivery of this Agreement and the related Term
        Sheet,
        nor the origination or purchase of the Mortgage Loans by the Company, the
        sale
        of the Mortgage Loans to the Purchaser, the consummation of the transactions
        contemplated hereby, or the fulfillment of or compliance with the terms and
        conditions of this Agreement and the related Term Sheet will conflict with
        any
        of the terms, conditions or provisions of the Company's charter 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 Company 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 Company or its properties are subject, or impair the ability
        of the
        Purchaser to realize on the Mortgage Loans.

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      

      

      (d)
        There
        is no litigation, suit, proceeding or investigation pending or, to the best
        of
        Company’s knowledge, threatened, or any order or decree outstanding, with
        respect to the Company which, either in any one instance or in the aggregate,
        is
        reasonably likely to have a material adverse effect on the sale of the Mortgage
        Loans, the execution, delivery, performance or enforceability of this Agreement
        and the related Term Sheet, or which is reasonably likely to have a material
        adverse effect on the financial condition of the Company.

      

      (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 Company
        of
        or compliance by the Company with this Agreement or the related Term Sheet,
        or
        the sale of the Mortgage Loans and delivery of the Mortgage Files to the
        Purchaser or the consummation of the transactions contemplated by this Agreement
        or the related Term Sheet, except for consents, approvals, authorizations
        and
        orders which have been obtained;

      

      (f)
        The
        consummation of the transactions contemplated by this Agreement or the related
        Term Sheet is in the ordinary course of business of the Company and Company,
        and
        the transfer, assignment and conveyance of the Mortgage Notes and the Mortgages
        by the Company pursuant to this Agreement or the related Term Sheet are not
        subject to bulk transfer or any similar statutory provisions in effect in
        any
        applicable jurisdiction;

      

      (g)
        The
        origination and servicing practices used by the Company and any prior originator
        or servicer with respect to each Mortgage Note and Mortgage have been legal
        and
        in accordance with applicable laws and regulations and the Mortgage Loan
        Documents, and in all material respects proper and prudent in the mortgage
        origination and servicing business. Each Mortgage Loan has been serviced
        in all
        material respects with Accepted Servicing Practices. With respect to escrow
        deposits and payments that the Company, on behalf of an investor, is entitled
        to
        collect, all such payments are in the possession of, or under the control
        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
        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;

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

      

      (h)
        The
        Company used no selection procedures that identified the Mortgage Loans as
        being
        less desirable or valuable than other comparable mortgage loans in the Company's
        portfolio at the related Cut-off Date; 

      

      (i) The
        Company will treat the sale of the Mortgage Loans to the Purchaser as a sale
        for
        reporting and accounting purposes and, to the extent appropriate, for federal
        income tax purposes; 

      

      (j) Company
        is an approved seller/servicer of residential mortgage loans for Fannie Mae,
        FHLMC and HUD, with such facilities, procedures and personnel necessary for
        the
        sound servicing of such mortgage loans. The Company is duly qualified, licensed,
        registered and otherwise authorized under all applicable federal, state and
        local laws, and regulations, if applicable, meets the minimum capital
        requirements set forth by the OCC, and is in good standing to sell mortgage
        loans to and service mortgage loans for Fannie Mae and FHLMC and no event
        has
        occurred which would make Company unable to comply with eligibility requirements
        or which would require notification to either Fannie Mae or FHLMC; 

      

      (k) The
        Company does not believe, nor does it have any cause or reason to believe,
        that
        it cannot perform each and every covenant contained in this Agreement or
        the
        related Term Sheet. 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 with the intent to hinder, delay or defraud any of the
        Company's creditors;

      

      (l) No
        statement, tape, diskette, form, report or other document prepared by, or
        on
        behalf of, Company pursuant to this Agreement or the related Term Sheet or
        in
        connection with the transactions contemplated hereby, contains or will contain
        any statement that is or will be inaccurate or misleading in any material
        respect;

      

      (m)
         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. In the opinion of Company, the consideration received
        by
        Company upon the sale of the Mortgage Loans to Purchaser under this Agreement
        and the related Term Sheet constitutes fair consideration for the Mortgage
        Loans
        under current market conditions. 

      

      (n) Company
        has delivered to the Purchaser financial statements of its parent, for its
        last
        two complete fiscal years. All such financial information fairly presents
        the
        pertinent results of operations and financial position for the period identified
        and has been prepared in accordance with GAAP consistently applied throughout
        the periods involved, except as set forth in the notes thereto. There has
        been
        no change in the servicing policies and procedures, business, operations,
        financial condition, properties or assets of the Company since the date of
        the
        Company’s financial information that would have a material adverse effect on its
        ability to perform its obligations under this Agreement;

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      

      

      (o) The
        Company 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;

      

      (p) As
        of the
        date of each Securitization Transaction, and except as has been otherwise
        disclosed to the Purchaser, any Master Servicer and any Depositor: (1) no
        default or servicing related performance trigger has occurred as to any other
        securitization due to any act or failure to act of the Company; (2) no material
        noncompliance with applicable servicing criteria as to any other securitization
        has occurred, been disclosed or reported by the Company; (3) 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; (4) no material changes to the Company’s servicing policies and
        procedures for similar loans has occurred in the preceding three years; (5)
        there are no aspects of the Company’s financial condition that could have a
        material adverse impact on the performance by the Company of its obligations
        hereunder; (6) there are no legal proceedings pending, or known to be
        contemplated by governmental authorities, against the Company that could
        be
        material to investors in the securities issued in such Securitization
        Transaction; and (7) there are no affiliations, relationships or transactions
        relating to the Company of a type that are described under Item 1119 of
        Regulation AB;

      

      (q) If
        so
        requested by the Purchaser or any Depositor on any date, the Company shall,
        within five Business Days following such request, confirm in writing the
        accuracy of the representations and warranties set forth in Section 3.01(p)
        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; 

      

      (r) Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        each Subservicer and Third-Party Originator to) (i) immediately notify the
        Purchaser, any Master Servicer and any Depositor in writing of (A) any material
        litigation or governmental proceedings pending against 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 clause (7) of paragraph (p) 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 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.

      

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      
        All
          notification pursuant to this Section 3.01(r) should be sent by e-mail
          transmission to regABnotifications@bear.com,
          and
          additionally as specified below.

        

        All
          notification pursuant to this Section 3.01(r), other than those pursuant
          to
          Section 3.01(r)(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(r)(i)(A) should be sent to: 

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      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

      

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

       

      
 

      
        (s) 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, 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 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.

      

      Section
        3.02 Representations
        and Warranties as to Individual Mortgage Loans.

      

      References
        in this Section to percentages of Mortgage Loans refer in each case to the
        percentage of the aggregate Stated Principal Balance of the Mortgage Loans
        as of
        the related Cut-off Date, based on the outstanding Stated Principal Balances
        of
        the Mortgage Loans as of the related Cut-off Date, and giving effect to
        scheduled Monthly Payments due on or prior to the related Cut-off Date, whether
        or not received. References to percentages of Mortgaged Properties refer,
        in
        each case, to the percentages of expected aggregate Stated Principal Balances
        of
        the related Mortgage Loans (determined as described in the preceding sentence).
        The Company hereby represents and warrants to the Purchaser, as to each Mortgage
        Loan, as of the related Closing Date as follows:

      

        (a)
        The
        information set forth in the Mortgage Loan Schedule attached to the related
        Term
        Sheet is true, complete and correct in all material respects as of the related
        Cut-Off Date;

      

      (b) The
        Mortgage creates a valid, subsisting and enforceable first lien or a first
        priority ownership interest in an estate in fee simple in real property securing
        the related Mortgage Note subject to principles of equity, bankruptcy,
        insolvency and other laws of general application affecting the rights of
        creditors;

      

      (c)
        All
        payments due prior to the related Cut-off Date for such Mortgage Loan have
        been
        made as of the related Closing Date; the Mortgage Loan has not been dishonored;
        there are no material defaults under the terms of the Mortgage Loan; the
        Company
        has not advanced its own funds, or induced, solicited or knowingly received
        any
        advance of funds from a party other than the owner of the Mortgaged Property
        subject to the Mortgage, directly or indirectly, for the payment of any amount
        required by the Mortgage Loan. As of the related Closing Date, all of the
        Mortgage Loans will have an actual interest paid to date of their related
        Cut-off Date(or later) and will be due for the scheduled monthly payment
        next
        succeeding the Cut-off Date (or later), as evidenced by a posting to Company's
        servicing collection system. No payment under any Mortgage Loan is delinquent
        as
        of the related Closing Date nor has any scheduled payment been delinquent
        at any
        time during the twelve (12) months prior to the month of the related Closing
        Date. For purposes of this paragraph, a Mortgage Loan will be deemed delinquent
        if any payment due thereunder was not paid by the Mortgagor in the month
        such
        payment was due;

      

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      
        (d)
          There
          are no defaults by Company in complying with the terms of the Mortgage,
          and all
          taxes, governmental assessments, insurance premiums, water, sewer and municipal
          charges, leasehold payments or ground rents 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;

      

       

      (e)
        The
        terms of the Mortgage Note and the Mortgage have not been impaired, waived,
        altered or modified in any respect, except by written instruments which have
        been recorded to the extent any such recordation is required by law, or,
        necessary to protect the interest of the Purchaser. No instrument of waiver,
        alteration or modification has been executed except in connection with a
        modification agreement and which modification agreement is part of the Mortgage
        File and the terms of which are reflected in the related Mortgage Loan Schedule,
        and no Mortgagor has been released, in whole or in part, from the terms thereof
        except in connection with an assumption agreement and which assumption agreement
        is part of the Mortgage File and the terms of which are reflected in the
        related
        Mortgage Loan Schedule; the substance of any such waiver, alteration or
        modification has been approved by the issuer of any related Primary Mortgage
        Insurance Policy and title insurance policy, to the extent required by the
        related policies;

      

      (f)
        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 or
        the
        Mortgage, or the exercise of any right thereunder, render the Mortgage Note
        or
        Mortgage unenforceable, in whole or in part, or subject to any right of
        rescission, set-off, counterclaim or defense, including the defense of usury,
        and no such right of rescission, set-off, counterclaim or defense has been
        asserted with respect thereto; and as of the related Closing Date the Mortgagor
        was not a debtor in any state or federal bankruptcy or insolvency
        proceeding;

      

      (g)
        All
        buildings or other customarily insured improvements upon the Mortgaged Property
        are insured by a Qualified Insurer, against loss by fire, hazards of extended
        coverage and such other hazards as are provided for in the Fannie Mae or
        FHLMC
        Guide, as well as all additional requirements set forth in Section 4.10 of
        this
        Agreement. All such standard hazard policies are in full force and effect
        and
        contain a standard mortgagee clause naming the Company and its successors
        in
        interest and assigns as loss payee and such clause is still in effect and
        all
        premiums due thereon have been paid. If required by the Flood Disaster
        Protection Act of 1973, as amended, the Mortgage Loan is covered by a flood
        insurance policy meeting the requirements of the current guidelines of the
        Federal Insurance Administration which policy conforms to Fannie Mae or FHLMC
        requirements, as well as all additional requirements set forth in Section
        4.10
        of this Agreement. Such policy was issued by a Qualified Insurer. 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. Neither the Company (nor any prior originator or servicer of any
        of
        the Mortgage Loans) nor any Mortgagor has engaged in any act or omission
        which
        has impaired or would impair the coverage of any such policy, the benefits
        of
        the endorsement provided for herein, or the validity and binding effect of
        either;

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      

      (h)
        Each
Mortgage
        Loan complies with, and the Company has complied with, applicable local,
        state
        and federal laws, regulations and other requirements including, without
        limitation, usury, equal credit opportunity, real estate settlement procedures,
        the Federal Truth-In-Lending Act, disclosure laws and all predatory and abusive
        lending laws and consummation of the transactions contemplated hereby, including
        without limitation, the receipt of interest by the owner of such Mortgage
        Loan,
        will not involve the violation of any such laws, rules or regulations. None
        of
        the Mortgage Loans are (a) Mortgage Loans subject to 12 CFR Part 226.31,
        12 CFR
        Part 226.32 or 226.34 of Regulation Z, the regulation implementing TILA,
        which
        implements the Home Ownership and Equity Protection Act of 1994, as amended,
        or
        (b) except as may be provided in subparagraph (c) below, classified and/or
        defined, as a “high cost”, “threshold”, “predatory” “high risk home loan” or
“covered” loan (or a similarly classified loan using different terminology under
        a law imposing additional legal liability for mortgage loans having high
        interest rates, points and or/fees) under any other state, federal or local
        law
        including, but not limited to, the States of Georgia, New York, North Carolina,
        Arkansas, Kentucky or New Mexico, (c) Mortgage Loans subject to the New Jersey
        Home Ownership Security Act of 2002 (the “Act”), unless such Mortgage Loan is a
        (1) “Home Loan” as defined in the Act that is a first lien Mortgage Loan, which
        is not a “High Cost Home Loan” as defined in the Act or (2) “Covered Home Loan”
as defined in the Act that is a first lien purchase money Mortgage Loan,
        which
        is not a High Cost Home Loan under the Act, or (d) secured by Mortgaged Property
        in the Commonwealth of Massachusetts with a loan application date on or after
        November 7, 2004 that refinances a mortgage loan that is less than sixty
        (60)
        months old, unless such Mortgage Loan (1) is on an investment property, (ii)
        meets the requirements set forth in the Code of Massachusetts Regulation
        (“CMR”), 209 CMR 53.04(1)(b), or (iii) meets the requirements set forth in the
        209 CMR 53.04(1)(c). In addition to and notwithstanding anything to the contrary
        herein, no Mortgage Loan for which the Mortgaged Property is located in New
        Jersey is a Home Loan as defined in the Act that was made, arranged, or assigned
        by a person selling either a manufactured home or home improvements to the
        Mortgaged Property or was made by an originator to whom the Mortgagor was
        referred by any such seller. Each Mortgage Loan is being (and has been) serviced
        in accordance with Accepted Servicing Practices and applicable state and
        federal
        laws, including, without limitation, the Federal Truth-In-Lending Act and
        other
        consumer protection laws, real estate settlement procedures, usury, equal
        credit
        opportunity and disclosure laws. Company shall maintain in its possession,
        available for the Purchaser’s inspection, as appropriate, and shall deliver to
        the Purchaser or its designee upon demand, evidence of compliance with all
        such
requirements;
        

      

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      
        (i)
          The
          Mortgage has not been satisfied, canceled or subordinated, in whole or
          in part,
          or rescinded, 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.
          The
          Company has not 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, nor has the Company waived any default resulting from any action
          or
          inaction by the Mortgagor;

      

      

      (j) The
        Mortgage is a valid, subsisting, enforceable and perfected 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 affixed to such buildings, and all additions, alterations and
        replacements made at any time with respect to the foregoing securing the
        Mortgage Note's original principal balance subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors. The Mortgage and the Mortgage Note do not contain any
        evidence of any security interest or other interest or right thereto. Such
        lien
        is free and clear of all adverse claims, liens and encumbrances having priority
        over the first lien of the Mortgage subject only to (1) the lien of
        non-delinquent 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 which
        are
        acceptable to mortgage lending institutions generally and either (A) which
        are
        referred to in the lender’s title insurance policy delivered to the originator
        or otherwise considered in the appraisal made for the originator of the Mortgage
        Loan, or (B) which do not adversely affect the residential use or Appraised
        Value of the Mortgaged Property as set forth in such appraisal, and (3) 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, subsisting, enforceable and
        perfected first lien and first priority security interest on the property
        described therein, and the Company has the full right to sell and assign
        the
        same to the Purchaser;

      

      (k)
        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 subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors, and the Company has taken all action necessary to transfer
        such rights of enforceability to the Purchaser. 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. The Mortgage Loan
        Documents are on forms acceptable to Fannie Mae and FHLMC. The Mortgage Note
        and
        the Mortgage have been duly and properly executed by such parties. No fraud,
        error, omission, misrepresentation, negligence or similar occurrence with
        respect to a Mortgage Loan has taken place on the part of Company or the
        Mortgagor, or on the part of any other party involved in the origination
        or
        servicing of the Mortgage Loan. The proceeds of the Mortgage Loan have been
        fully disbursed and there is no requirement for future advances thereunder,
        and
        any and all requirements as to completion of any on-site or off-site
        improvements and as to disbursements of any escrow funds therefor have been
        complied with. All costs, fees and expenses incurred in making or closing
        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;

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      

      

      (l)
        The
        Company is the sole owner and holder of the Mortgage Loan and the indebtedness
        evidenced by the Mortgage Note. Upon the sale of the Mortgage Loan to the
        Purchaser, the Company will retain the Mortgage File or any part thereof
        with
        respect thereto not delivered to the Purchaser or the Purchaser’s designee in
        trust only for the purpose of servicing and supervising the servicing of
        the
        Mortgage Loan. Immediately prior to the transfer and assignment to the
        Purchaser, the Mortgage Loan, including the Mortgage Note and the Mortgage,
        were
        not subject to an assignment, sale or pledge to any person other than Purchaser,
        and the Company had good and marketable title to and was the sole owner thereof
        and had full right to transfer and sell the Mortgage Loan to the Purchaser
        free
        and clear of any encumbrance, equity, lien, pledge, charge, claim or security
        interest and has the full right and authority subject to no interest or
        participation of, or agreement with, any other party, to sell and assign
        the
        Mortgage Loan pursuant to this Agreement and following the sale of the Mortgage
        Loan, the Purchaser will own such Mortgage Loan free and clear of any
        encumbrance, equity, participation interest, lien, pledge, charge, claim
        or
        security interest. The Company intends to relinquish all rights to possess,
        control and monitor the Mortgage Loan, except for the purposes of servicing
        the
        Mortgage Loan as set forth in this Agreement. After the related Closing Date,
        the Company will not have any right to modify or alter the terms of the sale
        of
        the Mortgage Loan and the Company will not have any obligation or right to
        repurchase the Mortgage Loan or substitute another Mortgage Loan, except
        as
        provided in this Agreement, or as otherwise agreed to by the Company and
        the
        Purchaser;

      

      (m)
        Each
        Mortgage Loan is covered by an ALTA lender's title insurance policy or other
        generally acceptable form of policy or insurance acceptable to Fannie Mae
        or
        FHLMC (including adjustable rate endorsements), issued by a title insurer
        acceptable to Fannie Mae or FHLMC and qualified to do business in the
        jurisdiction where the Mortgaged Property is located, insuring (subject to
        the
        exceptions contained in (j)(1), (2) and (3) above) the Company, its successors
        and assigns, as to the first priority lien of the Mortgage in the original
        principal amount of the Mortgage Loan and 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 and Monthly
        Payment. Where required by state law or regulation, the Mortgagor has been
        given
        the opportunity to choose the carrier of the required mortgage title insurance.
        The Company, its successors and assigns, is the sole insured of such lender's
        title insurance policy, such title insurance policy has been duly and validly
        endorsed to the Purchaser or the assignment to the Purchaser of the Company's
        interest therein does not require the consent of or notification to the insurer
        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. No claims have been made under such lender's title insurance
        policy, and no prior holder or servicer of the related Mortgage, including
        the
        Company, nor any Mortgagor, has done, by act or omission, anything which
        would
        impair the coverage of such lender's title insurance policy;

      

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

      

      
        (n)
          There
          is no default, breach, violation or event of acceleration existing under
          the
          Mortgage or the related Mortgage Note and no event which, with the passage
          of
          time or with notice and the expiration of any grace or cure period, would
          constitute a default, breach, violation or event permitting acceleration;
          and
          neither the Company, nor any prior mortgagee has waived any default, breach,
          violation or event permitting acceleration;

      (o)
        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 law could give
        rise
        to such liens) affecting the related Mortgaged Property which are or may
        be
        liens prior to or equal to the lien of the related Mortgage;

      

      (p)
        All
        improvements subject to the Mortgage which were considered in determining
        the
        appraised value of the Mortgaged Property lie wholly within the boundaries
        and
        building restriction lines of the Mortgaged Property (and wholly within the
        project with respect to a condominium unit) and no improvements on adjoining
        properties encroach upon the Mortgaged Property except those which are insured
        against by the title insurance policy referred to in clause (m) above and
        all
        improvements on the property comply with all applicable zoning and subdivision
        laws and ordinances;

      

      (q)
        Each
        Mortgage Loan was originated by or for the Company pursuant to, and conforms
        with, the Company’s underwriting guidelines attached as Exhibit H hereto. The
        Mortgage Loan bears interest at an adjustable rate (if applicable) as set
        forth
        in the related Mortgage Loan Schedule, and Monthly Payments under the Mortgage
        Note are due and payable on the first day of each month. The Mortgage contains
        the usual and enforceable provisions of the Company at the time of origination
        for the acceleration of the payment of the unpaid principal amount of the
        Mortgage Loan if the related Mortgaged Property is sold without the prior
        consent of the mortgagee thereunder;

      

      (r)
        The
        Mortgaged Property is not subject to any material damage. At origination
        of the
        Mortgage Loan there was not, since origination of the Mortgage Loan there
        has
        not been, and there currently is no proceeding pending for the total or partial
        condemnation of the Mortgaged Property. The Company has not received
        notification that any such proceedings are scheduled to commence at a future
        date;

      

      (s)
        The
        related 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, (1) in the case of a Mortgage designated as a deed of trust, by
        trustee's sale, and (2) otherwise by judicial foreclosure. There is no homestead
        or other exemption available to the Mortgagor which would interfere with
        the
        right to sell the Mortgaged Property at a trustee's sale or the right to
        foreclose the Mortgage;

      

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

      
        (t)
          If
          the Mortgage constitutes a deed of trust, a trustee, authorized and duly
          qualified if required under applicable law to act as such, has been properly
          designated and currently so serves and is named in the Mortgage, and no
          fees or
          expenses, except as may be required by local law, are or will become payable
          by
          the Purchaser to the trustee under the deed of trust, except in connection
          with
          a trustee's sale or attempted sale after default by the Mortgagor;

        

        (u)
          The
          Mortgage File contains an appraisal of the related Mortgaged Property signed
          prior to the final approval of the mortgage loan application by a Qualified
          Appraiser, approved by the Company, 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 appraiser both satisfy the requirements of
          Fannie
          Mae or FHLMC and Title XI of the Federal Institutions Reform, Recovery,
          and
          Enforcement Act of 1989 and the regulations promulgated thereunder, all
          as in
          effect on the date the Mortgage Loan was originated. The appraisal is in
          a form
          acceptable to Fannie Mae or FHLMC;
 

      

      (v)
        All
        parties which have had any interest in the Mortgage, whether as mortgagee,
        assignee, pledgee or otherwise, are (or, during the period in which they
        held
        and disposed of such interest, were) (A) in compliance with any and all
        applicable licensing requirements of the laws of the state wherein the Mortgaged
        Property is located, and (B) (1) organized under the laws of such state,
        or (2)
        qualified to do business in such state, or (3) federal savings and loan
        associations or national banks or a Federal Home Loan Bank or savings bank
        having principal offices in such state, or (4) not doing business in such
        state;

      

      (w)
        The
        related Mortgage Note is not and has not been secured by any collateral except
        the lien of the corresponding Mortgage and the security interest of any
        applicable security agreement or chattel mortgage referred to above and such
        collateral does not serve as security for any other obligation;

      

      (x)
        The
        Mortgagor has received and has executed, where applicable, all disclosure
        materials required by applicable law with respect to the making of such mortgage
        loans;

      

      (y)
        The
        Mortgage Loan does not contain balloon or "graduated payment" features; No
        Mortgage Loan is subject to a buydown agreement or contains any buydown
        provision;

      

      (z)
        The
        Mortgagor is not in bankruptcy and, the Mortgagor is not insolvent and the
        Company has no knowledge of any circumstances or conditions 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 marketability of
        the
        Mortgage Loan;

      

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

      
        (aa)
          Each
          Mortgage Loan bears interest based upon a thirty (30) day month and a three
          hundred and sixty (360) day year. The Mortgage Loans have an original term
          to
          maturity of not more than thirty (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 Margin; provided, that the Mortgage
          Interest Rate, on each applicable Adjustment Date, will not increase by
          more
          than the Initial Rate Cap or Periodic Rate Cap, as applicable. Over the
          term of
          each adjustable rate Mortgage Loan, the Mortgage Interest Rate will not
          exceed
          such Mortgage Loan's Lifetime Rate Cap. None of the Mortgage Loans are
          “interest-only” Mortgage Loans or “negative amortization” Mortgage Loans. With
          respect to each adjustable rate Mortgage Loan, each Mort-gage Note requires
          a
          monthly payment which is suffi-cient (a) during the period prior to the
          first
          adjust-ment to the Mortgage Interest Rate, to fully amortize the original
          principal balance over the original term thereof and to pay interest at
          the
          related Mortgage Interest Rate, and (b) during the period following each
          Adjust-ment Date, 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. With respect to
          each
          adjustable rate Mortgage Loan, the Mortgage Note provides that when the
          Mortgage
          Interest Rate changes on an Adjustment Date, the then outstanding principal
          balance will be reamortized over the remaining life of the Mortgage Loan.
          No
          Mortgage Loan contains terms or provi-sions which would result in negative
          amortization. None of the Mortgage Loans contain a conversion feature which
          would cause the Mortgage Loan interest rate to convert to a fixed interest
          rate.
          None of the Mortgage Loans are considered agricultural loans; 
 

      

      (bb)
        (INTENTIONALLY LEFT BLANK)

      

      (cc)
        (INTENTIONALLY LEFT BLANK)

      

      (dd)
        (INTENTIONALLY LEFT BLANK)

       

      (ee)
        (INTENTIONALLY LEFT BLANK) 

      

      (ff)
        (INTENTIONALLY LEFT BLANK)

      

      (gg)
        (INTENTIONALLY LEFT BLANK)

      

      (hh) In
        the
        event the Mortgage Loan had an LTV at origination greater than 80.00%, the
        excess of the principal balance of the Mortgage Loan over 75.0% of the Appraised
        Value of the Mortgaged Property with respect to a Refinanced Mortgage Loan,
        or
        the lesser of the Appraised Value or the purchase price of the Mortgaged
        Property with respect to a purchase money Mortgage Loan was insured as to
        payment defaults by a Primary Mortgage Insurance Policy issued by a Qualified
        Insurer. No Mortgage Loan has an LTV over 95%. 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.
        No
        Mortgage Loan requires payment of such premiums, in whole or in part, by
        the
        Purchaser. No action, inaction, or event has occurred and no state of facts
        exists that has, or will result in the exclusion from, denial of, or defense
        to
        coverage. Any Mortgage Loan subject to a Primary Mortgage Insurance Policy
        obligates the Mortgagor thereunder to maintain the Primary Mortgage Insurance
        Policy, subject to state and federal law, and to pay all premiums and charges
        in
        connection therewith. No action has been taken or failed to be taken, on
        or
        prior to the Closing Date which has resulted or will result in an exclusion
        from, denial of, or defense to coverage under any Primary Mortgage Insurance
        Policy (including, without limitation, any exclusions, denials or defenses
        which
        would limit or reduce the availability of the timely payment of the full
        amount
        of the loss otherwise due thereunder to the insured) whether arising out
        of
        actions, representations, errors, omissions, negligence, or fraud of the
        Company
        or the Mortgagor, or for any other reason under such coverage; The mortgage
        interest rate for the Mortgage Loan as set forth on the related Mortgage
        Loan
        Schedule is net of any such insurance premium. None of the Mortgage Loans
        are
        subject to “lender-paid” mortgage insurance;

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

      

      

      (ii) The
        Assignment is in recordable form and is acceptable for recording under the
        laws
        of the jurisdiction in which the Mortgaged Property is located;

      

      (jj) None
        of
        the Mortgage Loans are secured by an interest in a leasehold estate. The
        Mortgaged Property is located in the state identified in the related Mortgage
        Loan Schedule and consists of a single parcel of real property with a detached
        single family residence erected thereon, or a townhouse, or a two-to four-family
        dwelling, or an individual condominium unit in a condominium project, or
        an
        individual unit in a planned unit development or a de minimis planned unit
        development, provided, however, that no residence or dwelling is a single
        parcel
        of real property with a manufactured home not affixed to a permanent foundation,
        or a mobile home. Any
        condominium unit or planned unit development conforms with the Company’s
        underwriting guidelines. As
        of the
        date of origination, no portion of any Mortgaged Property was used for
        commercial purposes, and since the Origination Date, no portion of any Mortgaged
        Property has been, or currently is, used for commercial purposes;

      

      (kk) Payments
        on the Mortgage Loan commenced no more than sixty (60) days after the funds
        were
        disbursed in connection with the Mortgage Loan. The Mortgage Note is payable
        on
        the first day of each month in monthly installments of principal and interest,
        which installments are subject to change due to the adjustments to the Mortgage
        Interest Rate on each Adjustment Date, with interest calculated and payable
        in
        arrears. Each of the Mortgage Loans will amortize fully by the stated maturity
        date, over an original term of not more than thirty years from commencement
        of
        amortization;

      

      (ll) As
        of the
        Closing Date of the Mortgage Loan, the Mortgage Property was lawfully occupied
        under applicable law, and 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;

      

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

      
        (mm) There
          is
          no pending action or proceeding directly involving the Mortgaged Property
          in
          which compliance with any environmental law, rule or regulation is an issue;
          there is no violation of any environmental law, rule or regulation with
          respect
          to the Mortgaged Property; and the Company has not received any notice
          of any
          environmental hazard on the Mortgaged Property and 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) The
          Mortgagor has not notified the Company, and the Company has no knowledge
          of any
          relief requested or allowed to the Mortgagor under the Soldiers' and Sailors'
          Civil Relief Act of 1940;

      (oo)
         No
        Mortgage Loan is a construction or rehabilitation Mortgage Loan or was made
        to
        facilitate the trade-in or exchange of a Mortgaged Property;

      

      (pp) The
        Mortgagor for each Mortgage Loan is a natural person;

      

      (qq) None
        of
        the Mortgage Loans are Co-op Loans; 

      

      (rr)
         With
        respect to each Mortgage Loan that has a prepayment penalty feature, each
        such
        prepayment penalty is enforceable and will be enforced by the Company and
        each
        prepayment penalty is permitted pursuant to federal, state and local law.
        No
        Mortgage Loan will impose a prepayment penalty for a term in excess of five
        years from the date such Mortgage Loan was originated. Except as otherwise
        set
        forth on the Mortgage Loan Schedule, with respect to each Mortgage Loan that
        contains a prepayment penalty, 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;

      

      (ss)
         With
        respect to each Mortgage Loan either (i) the fair market value of the Mortgaged
        Property securing such Mortgage Loan was at least equal to 80 percent of
        the
        original principal balance of such Mortgage Loan at the time such Mortgage
        Loan
        was originated or (ii) (a) the Mortgage Loan is only secured by the Mortgage
        Property and (b) substantially all of the proceeds of such Mortgage Loan
        were
        used to acquire or to improve or protect the Mortgage Property. For the purposes
        of the preceding sentence, if the Mortgage Loan has been significantly modified
        other than as a result of a default or a reasonable foreseeable default,
        the
        modified Mortgage Loan will be viewed as having been originated on the date
        of
        the modification;

      

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

      

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

      

      
        (uu)
          None
          of the Mortgage Loans are simple interest Mortgage Loans and none of the
          Mortgaged Properties are timeshares; 

        

        (vv)
          All
          of the terms of the Mortgage pertaining to interest rate adjustments, payment
          adjustments and adjustments of the outstanding principal balance are
          enforceable, all such adjustments have been properly made, including the
          mailing
          of required notices, and such adjustments do not and will not affect the
          priority of the Mortgage lien. With respect to each Mortgage Loan which
          has
          passed its initial Adjustment Date, Company has performed an audit of the
          Mortgage Loan to determine whether all interest rate adjustments have been
          made
          in accordance with the terms of the Mortgage Note and
          Mortgage;

      (ww)
        Each
        Mortgage Note, each Mortgage, each Assignment and any other documents required
        pursuant to this Agreement to be delivered to the Purchaser or its designee,
        or
        its assignee for each Mortgage Loan, have been, on or before the related
        Closing
        Date, delivered to the Purchaser or its designee, or its assignee;

      

      (xx)
        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;

      

      (yy)
        No
        proceeds from any Mortgage Loan were used to finance single premium credit
        insurance policies;

      

      (zz)
        No
        borrower was encouraged or required to select a Mortgage Loan product offered
        by
        the Mortgage Loan’s originator which is a higher cost product designed for less
        creditworthy borrowers, unless at the time of the Mortgage Loan’s origination,
        such borrower did not qualify taking into account credit history and
        debt-to-income ratios for a lower-cost credit product then offered by the
        Mortgage Loan’s originator or any affiliate of the Mortgage Loan’s originator.
        If, at the time of loan application, the borrower may have qualified for
        a
        lower-cost credit product then offered by any mortgage lending affiliate
        of the
        Mortgage Loan’s originator, the Mortgage Loan’s originator referred the
        borrower’s application to such affiliate for underwriting
        consideration;

      

      (aaa) 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;

       

      (bbb) With
        respect to any Mortgage Loan that contains a provision permitting imposition
        of
        a premium upon a prepayment prior to maturity: (i) prior to the loan’s
        origination, the borrower agreed to such premium in exchange for a monetary
        benefit, including but not limited to a rate or fee reduction, (ii) prior
        to the
        loan’s origination, the borrower was offered the option of obtaining a mortgage
        loan that did not require payment of such a premium, (iii) the prepayment
        premium is disclosed to the borrower in the loan documents pursuant to
        applicable state and federal law, and (iv) notwithstanding any state or federal
        law to the contrary, the Servicer shall not impose such prepayment premium
        in
        any instance when the mortgage debt is accelerated as the result of the
        borrower’s default in making the loan payments;

       

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

      
        (ccc) 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; 

      

       

      (ddd) The
        Company will
        transmit full-file credit reporting data for each Mortgage Loan pursuant
        to the
        Fannie Mae Selling Guide and that for each Mortgage Loan, the Company 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)
        Any
        Mortgage Loan with a Mortgaged Property in the State of Illinois complies
        with
        the Illinois Interest Act; 

      

      (fff)
        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;

       

      (ggg)
        No
        Mortgage Loan is secured by Mortgaged Property in the Commonwealth of
        Massachusetts with a loan application date on or after November 7, 2004 that
        refinances a mortgage loan that is less than sixty (60) months old, unless
        such
        Mortgage Loan (1) is on an investment property, (ii) meets the requirements
        set
        forth in the Code of Massachusetts Regulation (“CMR”), 209 CMR 53.04(1)(b), or
        (iii) meets the requirements set forth in the 209 CMR 53.04(1)(c); 

      

      (hhh) 
        For any Mortgage Loan with Mortgaged Property located in Texas which is a
        second
        lien and the interest rate is in excess of 10% where terms of the Mortgage
        Note
        contain a provision for which the Mortgagor may be entitled to prepaid interest
        upon payoff, no Mortgagor paid any administrative fees, points, or loan
        origination fees which would actually result in any prepaid interest being
        due
        the Mortgagor under the terms of the Mortgage Note;

       

      (iii)  
        The Company has complied with all applicable anti-money laundering laws and
        regulations, including without limitation the USA Patriot Act of 2001
        (collectively, the Anti-Money Laundering Laws").  The Company has
        established an anti-money laundering compliance program as required by the
        Anti-Money Laundering Laws and has conducted the requisite due diligence in
        connection with the origination of each Mortgage Loan for the purposes of
        the
        Anti-Money Laundering Laws.  The Company further represents that it
        takes reasonable efforts to determine whether any Mortgagor appears on any
        list of blocked or prohibited parties designated by the U.S. Department of
        Treasury; and

      

      
        
          
          

        

        
          39

          
            

          

        

        
          
          

        

      

      
        (jjj)
          With respect to each Mortgage Loan, information regarding the borrower
          credit
          files related to such Mortgage Loan has been furnished to credit reporting
          agencies in compliance with the provisions of the Fair Credit Reporting
          Act and
          the applicable implementing regulations.

        

        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 and delivery
        of the Mortgage Loan Documents to the Purchaser, or its designee, and shall
        inure to the benefit of the Purchaser, notwithstanding any restrictive or
        qualified endorsement on any Mortgage Note or Assignment or the examination,
        or
        lack of examination, of any 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 in any Mortgage Loan, the party
        discovering such breach shall give prompt written notice to the other. The
        Company shall have a period of sixty (60) days from the earlier of its discovery
        or its receipt of notice of any such breach within which to correct or cure
        such
        breach. The Company hereby covenants and agrees that if any such breach is
        not
        corrected or cured within such sixty day period, the Company shall, at the
        Purchaser's option and not later than ninety (90) days of its discovery or
        its
        receipt of notice of such breach, repurchase such Mortgage Loan at the
        Repurchase Price. In the event that any such breach shall involve any
        representation or warranty set forth in Section 3.01, and such breach is
        not
        cured within sixty (60) days of the earlier of either discovery by or notice
        to
        the Company of such breach, all Mortgage Loans shall, at the option of the
        Purchaser, be repurchased by the Company at the Repurchase Price. Any such
        repurchase shall be accomplished by wire transfer of immediately available
        funds
        to Purchaser in the amount of the Repurchase Price. Notwithstanding anything
        to
        the contrary contained herein, it is understood by the parties hereto that
        a
        breach of the representations made in Section 3.02 (h ),
        (xx),
        (yy), (zz), (aaa), (bbb), (ccc), (fff), (ggg) or (iii) will be deemed to
        materially and adversely affect the value of the related Mortgage Loan or
        the
        interest of Purchaser therein. 

      

      It
        is
        understood and agreed that the obligation of the Company set forth in this
        Section 3.03 to cure or repurchase for a defective Mortgage Loan, and to
        indemnify Purchaser pursuant to Section 8.01, constitute the sole remedies
        of
        the Purchaser respecting a breach of the foregoing representations and
        warranties. If the Company fails to repurchase a defective Mortgage Loan
        in
        accordance with this Section 3.03, or fails to cure a defective Mortgage
        Loan to
        Purchaser's reasonable satisfaction in accordance with this Section 3.03,
        or to
        indemnify Purchaser pursuant to Section 8.01, that failure shall be an Event
        of
        Default and the Purchaser shall be entitled to pursue all remedies available
        in
        this Agreement as a result thereof. No provision of this paragraph shall
        affect
        the rights of the Purchaser to terminate this Agreement for cause, as set
        forth
        in Sections 10.01 and 11.01.

      

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      

      
        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) the earlier of discovery of such breach by the
          Company or notice thereof by the Purchaser to the Company, (ii) failure
          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.

        

        Section
          3.04 Representations
          and Warranties of the Purchaser.

         

      

      The
        Purchaser represents, warrants and convenants to the Company that, as of
        the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Purchaser is a corporation, dully organized validly existing and in good
        standing under the laws of the State of Delaware 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 except or not required under applicable
        law
        to effect such qualification or license;

      

      (b) The
        Purchaser has full power and authority to hold each Mortgage Loan, to purchase
        each Mortgage Loan pursuant to this Agreement and the related Term Sheet
        and to
        execute, deliver and perform, and to enter into and consummate all transactions
        contemplated by this Agreement and the related Term Sheet and to conduct
        its
        business as presently conducted, has duly authorized the execution, delivery
        and
        performance of this Agreement and the related Term Sheet, has duly executed
        and
        delivered this Agreement and the related Term Sheet;

      

      (c) None
        of
        the execution and delivery of this Agreement and the related Term Sheet,
        the
        purchase of the Mortgage Loans, the consummation of the transactions
        contemplated hereby, or the fulfillment of or compliance with the terms and
        conditions of this Agreement and the related Term Sheet will conflict with
        any
        of the terms, conditions or provisions of the Purchaser’s charter 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 Purchaser
        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 Purchaser
        or
        its property is subject;

      

      (d) There
        is
        no litigation pending or to the best of the Purchaser’s knowledge, threatened
        with respect to the Purchaser which is reasonably likely to have a material
        adverse effect on the purchase of the related Mortgage Loans, the execution,
        delivery or enforceability of this Agreement and the related Term Sheet,
        or
        which is reasonably likely to have a material adverse effect on the financial
        condition of the Purchaser;

      

      
        
          
          

        

        
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        (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 Purchaser
          of
          or compliance by the Purchaser with this Agreement and the related Term
          Sheet,
          the purchase of the Mortgage Loans or the consummation of the transactions
          contemplated by this Agreement and the related Term Sheet except for consents,
          approvals, authorizations and orders which have been obtained;

        

        (f) The
          consummation of the transactions contemplated by this Agreement and the
          related
          Term Sheet is in the ordinary course of business of the Purchaser;

        
        

      

      (h) The
        Purchaser will treat the purchase of the Mortgage Loans from the Company
        as a
        purchase for reporting, tax and accounting purposes; and

      

      (i) The
        Purchaser does not believe, nor does it have any cause or reason to believe,
        that it cannot perform each and every of its covenants contained in this
        Agreement and the related Term Sheet.

      

      The
        Purchaser shall indemnify the Company and hold it harmless against any claims,
        proceedings, losses, damages, penalties, fines, forfeitures, reasonable and
        necessary legal fees and related costs, judgments, and other costs and expenses
        resulting from a breach by the Purchaser of the representations and warranties
        contained in this Section 3.04. It is understood and agreed that the obligations
        of the Purchaser set forth in this Section 3.04 to indemnify the Company
        as
        provided herein constitute the sole remedies of the Company respecting a
        breach
        of the foregoing representations and warranties.

      

      
        
          
          

        

        
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      ARTICLE
        IV

      

      ADMINISTRATION
        AND SERVICING OF MORTGAGE LOANS

      

      Section
        4.01 Company
        to Act as Servicer.

      

      The
        Company, as independent contract servicer, shall service and administer the
        Mortgage Loans in accordance with this Agreement and the related Term Sheet
        and
        with Accepted Servicing Practices, 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 Company may deem necessary or
        desirable and consistent with the terms of this Agreement and the related
        Term
        Sheet and with Accepted Servicing Practices and exercise the same care that
        it
        customarily employs for its own account. In addition, the Company 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. Except as set
        forth
        in this Agreement and the related Term Sheet, the Company shall service the
        Mortgage Loans in strict compliance with the servicing provisions of the
        Fannie
        Mae Guides (special servicing option), 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
        mortgage impairment insurance, 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, the
        title,
        management and disposition 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 Files, 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 the related Term Sheet
        and
        any of the servicing provisions of the Fannie Mae Guides, the provisions
        of this
        Agreement and the related Term Sheet shall control and be binding upon the
        Purchaser and the Company. 

      

      Consistent
        with the terms of this Agreement and the related Term Sheet, the Company
        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 Company's reasonable and prudent determination such waiver,
        modification, postponement or indulgence is not materially adverse to the
        Purchaser, provided, however, that unless 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 for more than ninety days or forgive any 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
        Purchaser and 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 4.04, 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 pursuant to Section 4.05. Without
        limiting the generality of the foregoing, the Company 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. Notwithstanding anything
        herein to the contrary, the Company may not enter into a forbearance agreement
        or similar arrangement with respect to any Mortgage Loan which runs more
        than
        180 days after the first delinquent Due Date. Any such agreement shall be
        approved by Purchaser and, if required, by the Primary Mortgage Insurance
        Policy
        insurer, if required. 

      
        
          
          

        

        
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      Notwithstanding
        anything in this Agreement to the contrary, if any Mortgage Loan becomes
        subject
        to a Securitization Transaction, the Company (a) with respect to such Mortgage
        Loan, shall not permit any modification with respect to such Mortgage Loan
        that
        would change the Mortgage Interest Rate and (b) shall not (unless the Mortgagor
        is in default with respect to such 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 such 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 subject to a Securitization
        Transaction, which is not contemplated under the terms of this Agreement,
        the
        Company will obtain an Opinion of Counsel acceptable to the trustee in such
        Securitization Transaction 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 Company shall not take any such
        actions 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 any REMIC. The Company 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.

      

      In
        servicing and administering the Mortgage Loans, the Company shall employ
        Accepted Servicing Practices, giving due consideration to the Purchaser's
        reliance on the Company. Unless a different time period is stated in this
        Agreement or the related Term Sheet, Purchaser shall be deemed to have given
        consent in connection with a particular matter if Purchaser does not
        affirmatively grant or deny consent within five (5) Business Days from the
        date
        Purchaser receives a second written request for consent for such matter from
        Company as servicer. 

      
        
          
          

        

        
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      The
        Mortgage Loans may be subserviced by a Subservicer on behalf of the Company
        provided that the Subservicer is an entity that engages in the business of
        servicing loans, and in either case shall be authorized to transact business,
        and licensed to service mortgage loans, in the state or states where the
        related
        Mortgaged Properties it is to service are situated, if and to the extent
        required by applicable law to enable the Subservicer to perform its obligations
        hereunder and under the Subservicing Agreement, and in either case shall
        be a
        FHLMC or Fannie Mae approved mortgage 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 Fannie Mae or FHLMC,
        or
        which would require notification to Fannie Mae or FHLMC. In addition, each
        Subservicer will obtain and preserve its qualifications to do business as
        a
        foreign corporation and its licenses to service mortgage loans, in each
        jurisdiction in which such qualifications and/or licenses are or shall be
        necessary to protect the validity and enforceability of this Agreement, or
        any
        of the Mortgage Loans and to perform or cause to be performed its duties
        under
        the related Subservicing Agreement. 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.
        Company
        shall notify Purchaser promptly in writing upon the appointment of any
        Subservicer.

      

      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 4.13, 8.04, 9.01 or 10.01 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 effective as of the date
        of
        termination of the Company. 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. The Company will indemnify and hold Purchaser harmless from
        any
        loss, liability or expense arising out of its use of a Subservicer to perform
        any of its servicing duties, responsibilities and obligations
        hereunder.

      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

      

      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 Collection
        of Mortgage Loan Payments.

      

      Continuously
        from the date hereof until the date each Mortgage Loan ceases to be subject
        to
        this Agreement, the Company will proceed diligently 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, Accepted
        Servicing Practices, and the terms and provisions of any 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 Company will take special care in ascertaining and
        estimating annual escrow payments, and all other charges that, as provided
        in
        the Mortgage, will become due and payable, so that the installments payable
        by
        the Mortgagors will be sufficient to pay such charges as and when they become
        due and payable.

      

      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.

      

      Section
        4.03 Realization
        Upon Defaulted Mortgage

      
        
          
          

        

        
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      The
        Company shall use its best efforts, consistent with the procedures that the
        Company would use in servicing loans for its own account, consistent with
        Accepted Servicing Practices, any Primary Mortgage Insurance Policies and
        the
        best interest of Purchaser, 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. In determining
        the
        delinquency status of any Mortgage Loan, the Company will use Delinquency
        Recognition Policies, and shall revise these policies as requested by the
        Purchaser from time to time. Foreclosure or comparable proceedings shall
        be
        initiated within ninety (90) days of default for Mortgaged Properties for
        which
        no satisfactory arrangements can be made for collection of delinquent payments,
        subject to state and federal law and regulation. The Company shall use its
        best
        efforts to realize upon defaulted Mortgage Loans in such manner as will maximize
        the receipt of principal and interest by the Purchaser, taking into account,
        among other things, the timing of foreclosure proceedings. The foregoing
        is
        subject to the provisions that, in any case in which a Mortgaged Property
        shall
        have suffered damage, the Company 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 Purchaser after reimbursement to itself
        for
        such expenses, and (ii) that such expenses will be recoverable by the Company
        through Insurance Proceeds or Liquidation Proceeds from the related Mortgaged
        Property, as contemplated in Section 4.05. Company shall obtain prior approval
        of Purchaser as to repair or restoration expenses in excess of ten thousand
        dollars ($10,000). The Company shall notify the Purchaser in writing of the
        commencement of foreclosure proceedings and not less than 5 days prior to
        the
        acceptance or rejection of any offer of reinstatement. The Company shall
        be
        responsible for all costs and expenses incurred by it in any such proceedings
        or
        functions; provided, however, that it shall be entitled to reimbursement
        thereof
        from the related 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 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 at the
        Purchaser's expense. 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. 

      

      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any Mortgage Loan which
        becomes ninety (90) days or greater delinquent in payment of a scheduled
        Monthly
        Payment, without payment of any termination fee with respect thereto, provided
        that the Company shall on the date said termination takes effect be reimbursed
        for any unreimbursed Monthly Advances of the Company's funds made pursuant
        to
        Section 5.03 and any unreimbursed Servicing Advances and Servicing Fees in
        each
        case relating to the Mortgage Loan underlying such delinquent Mortgage Loan
        notwithstanding anything to the contrary set forth in Section 4.05. In the
        event
        of any such termination, the provisions of Section 11.01 hereof shall apply
        to
        said termination and the transfer of servicing responsibilities with respect
        to
        such delinquent Mortgage Loan to the Purchaser or its designee.

      
        
          
          

        

        
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      In
        the
        event that a Mortgage Loan becomes part of a REMIC, and becomes REO Property,
        such property shall be disposed of by the Company, with the consent of Purchaser
        as required pursuant to this Agreement, before the close of the third taxable
        year following the taxable year in which the Mortgage Loan became an REO
        Property, unless the Company provides to the trustee under such REMIC an
        opinion
        of counsel to the effect that the holding of such REO Property subsequent
        to the
        close of the third taxable year following the taxable year in which the Mortgage
        Loan became an REO Property, will not result in the imposition of taxes on
        "prohibited transactions" as defined in Section 860F of the Code, or cause
        the
        transaction to fail to qualify as a REMIC at any time that certificates are
        outstanding. Company shall manage, conserve, protect and operate each such
        REO
        Property for the certificateholders solely for the purpose of its prompt
        disposition and sale in a manner which does not cause such property to fail
        to
        qualify as "foreclosure property" within the meaning of Section 860F(a)(2)(E)
        of
        the Code, or any "net income from foreclosure property" which is subject
        to
        taxation under the REMIC provisions of the Code. Pursuant to its efforts
        to sell
        such property, the Company shall either itself or through an agent selected
        by
        Company, protect and conserve such property in the same manner and to such
        an
        extent as is customary in the locality where such property is located.
        Additionally, Company shall perform the tax withholding and reporting related
        to
        Sections 1445 and 6050J of the Code.

      

      Section
        4.04 Establishment
        of Custodial Accounts; Deposits in Custodial Accounts.

      

      The
        Company 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. The
        Custodial Account shall be an Eligible Account. Funds shall be deposited
        in the
        Custodial Account within 24 hours of receipt, and shall at all times be insured
        by the FDIC up to the FDIC insurance limits, or must be invested in Permitted
        Investments for the benefit of the Purchaser. 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 letter agreement
        in
        the form shown in Exhibit B hereto. The original of such letter agreement
        shall
        be furnished to the Purchaser on the Closing Date, and upon the request of
        any
        subsequent Purchaser.

      

      The
        Company 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 Cut-off Date, or received by it prior to the Cut-off Date but allocable
        to a period subsequent thereto, other than in respect of principal and interest
        on the Mortgage Loans due on or before the Cut-off Date:

      

      (i) all
        payments on account of principal, including Principal Prepayments, on the
        Mortgage Loans;

      
        
          
          

        

        
          48

          
            

          

        

        
          
          

        

      

      

      (ii)
         all
        payments on account of interest on the Mortgage Loans adjusted to the Mortgage
        Loan Remittance Rate;

      

      (iii)
         all
        Liquidation Proceeds;

      

      (iv)
         any
        amounts required to be deposited by the Company in connection with any REO
        Property pursuant to Section 4.13 and in connection therewith, the Company
        shall
        provide the Purchaser with written detail itemizing all of such
        amounts;

      

      (v)
         all
        Insurance Proceeds including amounts required to be deposited pursuant to
        Sections 4.08, 4.10 and 4.11, 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 Accepted Servicing Practices,
        the
        Mortgage Loan Documents or applicable law;

      

      (vi)
         all
        Condemnation Proceeds affecting any Mortgaged Property which are not released
        to
        the Mortgagor in accordance with Accepted Servicing Practices, the loan
        documents or applicable law;

      

      (vii)
         any
        Monthly Advances;

      

      (viii)
         with
        respect to each full or partial Principal Prepayment, any Prepayment Interest
        Shortfalls, to the extent of the Company’s aggregate Servicing Fee received with
        respect to the related Prepayment Period;

      

      (ix)
         any
        amounts required to be deposited by the Company pursuant to Section 4.10
        in
        connection with the deductible clause in any blanket hazard insurance policy,
        such deposit shall be made from the Company's own funds, without reimbursement
        therefor; and

      

      (x)
         any
        amounts required to be deposited in the Custodial Account pursuant to Section
        4.01, 4.13 or 6.02.

      

      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 Company
        in
        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 (iv). The Purchaser shall not
        be
        responsible for any losses suffered with respect to investment of funds in
        the
        Custodial Account.

      

      

      Section
        4.05 Permitted
        Withdrawals From the Custodial Account.

      
        
          
          

        

        
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      The
        Company may, from time to time, withdraw 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, 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 collections (net of the related Servicing
        Fees) of principal and/or interest respecting which any such advance was
        made,
        it being understood that, in the case of such reimbursement, the Company's
        right
        thereto shall be prior to the rights of the Purchaser, except that, where
        the
        Company is required to repurchase a Mortgage Loan, pursuant to Section 3.03,
        the
        Company's right to such reimbursement shall be subsequent to the payment
        to the
        Purchaser of the Repurchase Price pursuant to such Section 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 any unpaid Servicing
        Fees(or REO administration fees described in Section 4.13), the Company's
        right
        to reimburse itself pursuant to this subclause (iii) with respect to any
        Mortgage Loan being limited to related proceeds from Liquidation Proceeds,
        Condemnation Proceeds and Insurance Proceeds in accordance with the relevant
        provisions of the Fannie Mae Guides or as otherwise set forth in this Agreement;
        any recovery shall be made upon liquidation of the REO Property; 

      

      (iv) to
        pay to
        itself as part of its 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) the Servicing Fee from that portion of any
        payment or recovery as to interest with respect to a particular Mortgage
        Loan;

      

      (v) to
        pay to
        itself with respect to each Mortgage Loan that has been repurchased pursuant
        to
        Section 3.03 all amounts received thereon and not distributed as of the date
        on
        which the related repurchase price is determined,

      

      (vi) to
        transfer funds to another Eligible Account in accordance with Section 4.09
        hereof;

      

      (vii) to
        remove
        funds inadvertently placed in the Custodial Account by the Company;

      

      (vi) to
        clear
        and terminate the Custodial Account upon the termination of this Agreement;
        and

      

      (vii) to
        reimburse itself for Nonrecoverable Advances to the extent not reimbursed
        pursuant to clause (ii) or clause (iii).

      
        
          
          

        

        
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      Section
        4.06 Establishment
        of Escrow Accounts; Deposits
        in Escrow Accounts.

      

      The
        Company 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. The Escrow Account shall be an Eligible Account. Funds
        deposited in each Escrow Account shall at all times be insured in a manner
        to
        provide maximum insurance under the insurance limitations of the FDIC, or
        must
        be invested in Permitted Investments. 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
        letter agreement in the form shown in Exhibit C. The original of such letter
        agreement shall be furnished to the Purchaser on the Closing Date, and upon
        request to any subsequent purchaser.

      

      The
        Company shall deposit in the Escrow Account or Accounts on a daily basis,
        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
        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
        Company shall make withdrawals from the Escrow Account only to effect such
        payments as are required under this Agreement, and for such other purposes
        as
        shall be as set forth or in accordance with 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 and, to the extent required by law, the Company
        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. The
        Purchaser shall not be responsible for any losses suffered with respect to
        investment of funds in the Escrow Account.

      

      

      Section
        4.07 Permitted
        Withdrawals From Escrow Account.

      

      Withdrawals
        from the Escrow Account may be made by Company only:

      

      (i) to
        effect
        timely payments of ground rents, taxes, assessments, water rates, Primary
        Mortgage Insurance Policy premiums, if applicable, fire and hazard insurance
        premiums, condominium assessments and comparable items;

      
        
          
          

        

        
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      (ii) to
        reimburse Company for any Servicing Advance made by Company 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 accordance with the terms of this
        Agreement;

      

      (v) for
        application to restoration or repair of the Mortgaged Property;

      

      (vi) to
        pay to
        the Company, or to the 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. As
        part
        of its servicing duties, the Company shall pay to the Mortgagors interest
        on
        funds in 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;
        and

      

      (viii)
         to
        pay to
        the Mortgagors or other parties Insurance Proceeds deposited in accordance
        with
        Section 4.06.

      

      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 Company 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 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 Company 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 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 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.

      
        
          
          

        

        
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      The
        Company 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 terminated
        only
        with the approval of Purchaser, or as required by applicable law or regulation.
        The Company will not cancel or refuse to renew any Primary Mortgage Insurance
        Policy in effect on the Closing Date 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 Company 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 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 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 Company shall obtain a
        replacement Primary Mortgage Insurance 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
        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 Company 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
        Company may transfer the Custodial Account or the Escrow Account to a different
        Eligible Account from time to time. Such transfer shall be made only upon
        obtaining the prior written consent of the Purchaser, which consent will
        not be
        unreasonably withheld.

      

      Section
        4.10 Maintenance
        of Hazard Insurance.

      

      The
        Company shall cause to be maintained for each Mortgage Loan fire and hazard
        insurance with extended coverage as is acceptable to Fannie Mae or FHLMC
        and
        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) an amount such that the proceeds thereof
        shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming
        a co-insurer. If required by the Flood Disaster Protection Act of 1973, as
        amended, each Mortgage Loan shall be covered by a flood insurance policy
        meeting
        the requirements of the current guidelines of the Federal Insurance
        Administration in effect with an insurance carrier acceptable to

      
        
          
          

        

        
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      Fannie
        Mae or FHLMC, 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. 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. The Company shall also maintain on
        each 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, 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 Company 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 Accepted Servicing Practices, 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 Company of the Mortgagor or maintained on property acquired
        in
        respect of the Mortgage Loan, other than pursuant to this Agreement, the
        Fannie
        Mae Guides 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 Company 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 Company. 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 Qualified
        Insurers.

      

      Section
        4.11 Maintenance
        of Mortgage Impairment Insurance Policy.

      

      In
        the
        event that the Company shall obtain and maintain a blanket policy issued
        by a
        Qualified Insurer insuring against hazard losses 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, it being understood and agreed
        that such policy may contain a deductible clause, in which case the Company
        shall, in the event that there shall not have been maintained on the related
        Mortgaged Property or REO Property a policy complying with Section 4.10,
        and
        there shall have been a loss which would have been covered by such policy,
        deposit in the Custodial Account the amount not otherwise payable under the
        blanket policy because of such deductible clause. In connection with its
        activities as servicer of the Mortgage Loans, the Company agrees to prepare
        and
        present, on behalf of the Purchaser, claims under any such blanket policy
        in a
        timely fashion in accordance with the terms of such policy. Upon request
        of the
        Purchaser, the Company shall cause to be delivered to the Purchaser a certified
        true copy of such policy and shall use its best efforts to obtain a statement
        from the insurer thereunder that such policy shall in no event be terminated
        or
        materially modified without thirty (30) days' prior written notice to the
        Purchaser.

      
        
          
          

        

        
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      Section
        4.12 Fidelity
        Bond, Errors and Omissions Insurance.

      

      The
        Company 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 Loan to handle funds, money, documents and papers
        relating to the Mortgage Loan. The Fidelity Bond 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 and fraud of such persons.
        The
        errors and omissions insurance shall protect and insure the Company against
        losses arising out of errors and omissions and negligent acts of such persons.
        Such errors and omissions insurance shall also protect and insure the Company
        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
        or errors and omissions insurance 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 at least equal to the
        corresponding amounts required by Fannie Mae in the Fannie Mae Guides. Upon
        request by the Purchaser, the Company shall deliver to the Purchaser 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 (30) days' prior
        written notice to the Purchaser. The Company shall notify the Purchaser within
        five (5) business days of receipt of notice that such Fidelity Bond or insurance
        policy will be, or has been, materially modified or terminated. The Purchaser
        (or any party having the status of Purchaser hereunder) and any subsidiary
        thereof and their 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. Upon request by Purchaser, Company shall provide
        Purchaser with an insurance certificate certifying coverage under this Section
        4.12, and will provide an update to such certificate upon request, or upon
        renewal or material modification of coverage.

      

      Section
        4.13 Title,
        Management and Disposition of REO Property.

      

      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 designee, or in the event the Purchaser or its
        designee 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
        an
        attorney duly licensed to practice law in the state where the REO Property
        is
        located. Any Person or Persons holding such title other than the Purchaser
        shall
        acknowledge in writing that such title is being held as nominee for the benefit
        of the Purchaser.

      
        
          
          

        

        
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      The
        Company shall notify the Purchaser in accordance with the Fannie Mae Guides
        of
        each acquisition of REO Property upon such acquisition (and, in any event,
        shall
        provide notice of the consummation of any foreclosure sale within three (3)
        Business Days of the date Company receives notice of such consummation),
        together with a copy of the drive by appraisal or brokers price opinion of
        the
        Mortgaged Property obtained in connection with such acquisition, and thereafter
        assume the responsibility for marketing such REO property in accordance with
        Accepted Servicing Practices. Thereafter, the Company shall continue to provide
        certain administrative services to the Purchaser relating to such REO Property
        as set forth in this Section 4.13. No Servicing Fee shall be assessed or
        otherwise accrue on any REO Property from and after the date on which it
        becomes
        an REO Property. 

      

      The
        Company shall, either itself or through an agent selected by the Company,
        and in
        accordance with the Fannie Mae Guides 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.
        The
        Company 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 required by the circumstances.
        The Company shall make or cause to be made a written report of each such
        inspection. Such reports shall be retained in the Mortgage File and copies
        thereof shall be forwarded by the Company to 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 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
        longer period than one (1) 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. No
        REO
        Property shall be marketed for less than the Appraised Value, without the
        prior
        consent of Purchaser. No REO Property shall be sold for less than ninety
        five
        percent (95%) of its Appraised Value, without the prior consent of Purchaser.
        All requests for reimbursement of Servicing Advances shall be in accordance
        with
        the Fannie Mae Guides. 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 (subject to the above
        conditions) only with the prior written consent of the Purchaser. Company
        shall
        provide monthly reports to Purchaser in reference to the status of the marketing
        of the REO Properties.

      
        
          
          

        

        
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      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any such REO Property without
        payment of any termination fee with respect thereto, provided that the Company
        shall on the date said termination takes effect be reimbursed for any
        unreimbursed advances of the Company's funds made pursuant to Section 5.03
        and
        any unreimbursed Servicing Advances and Servicing Fees in each case relating
        to
        the Mortgage Loan underlying such REO Property notwithstanding anything to
        the
        contrary set forth in Section 4.05. In the event of any such termination,
        the
        provisions of Section 11.01 hereof shall apply to said termination and the
        transfer of servicing responsibilities with respect to such REO Property
        to the
        Purchaser or its designee. Within five Business Days of any such termination,
        the Company shall, if necessary convey such property to the Purchaser and
        shall
        further provide the Purchaser with the following information regarding the
        subject REO Property: the related drive by appraisal or brokers price opinion,
        and copies of any related Mortgage Impairment Insurance Policy claims. In
        addition, within five Business Days, the Company shall provide the Purchaser
        with the following information and documents regarding the subject REO Property:
        the related trustee’s deed upon sale and copies of any related hazard insurance
        claims, or repair bids.

      

      Section
        4.14 Notification
        of Maturity Date.

      

      With
        respect to each Mortgage Loan, the Company shall execute and deliver to the
        Mortgagor any and all necessary notices required under applicable law and
        the
        terms of the related Mortgage Note and Mortgage regarding the maturity date
        if
        required under applicable law.

      

      ARTICLE
        V

      

      PAYMENTS
        TO THE PURCHASER

      

      Section
        5.01 Distributions.

      

      On
        each
        Remittance Date, the Company shall distribute by wire transfer of immediately
        available funds to the Purchaser (i) all amounts credited to the Custodial
        Account as of the close of business on the preceding Determination Date,
        net of
        charges against or withdrawals from the Custodial Account pursuant to Section
        4.05, plus (ii) all Monthly Advances, if any, which the Company is obligated
        to
        distribute pursuant to Section 5.03, plus, (iii) interest at the Mortgage
        Loan
        Remittance Rate on any Principal Prepayment from the date of such Principal
        Prepayment through the end of the month for which disbursement is made provided
        that the Company’s obligation as to payment of such interest shall be limited to
        the Servicing Fee earned during the month of the distribution, minus (iv)
        any
        amounts attributable to Monthly Payments collected but due on a Due Date or
        Dates subsequent to the preceding Determination 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 Remittance
        Date,
        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 (3) 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. 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. On each Remittance Date, the Company shall provide a remittance
        report detailing all amounts being remitted pursuant to this Section
        5.01.

      
        
          
          

        

        
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      Section
        5.02 Statements
        to the Purchaser.

      

      The
        Company shall furnish to Purchaser an individual loan accounting report,
        as of
        the last Business Day of each month, in the Company's assigned loan number
        order
        to document Mortgage Loan payment activity on an individual Mortgage Loan
        basis.
        With respect to each month, the corresponding individual loan accounting
        report
        shall be received by the Purchaser no later than the fifth Business Day of
        the
        following month on a disk or tape or other computer-readable format in such
        format as may be mutually agreed upon by both Purchaser and Company, and
        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 Company 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 beginning of the distribution
        period and the ending of the distribution period;

      

      (v) with
        respect to each Mortgage Loan, the current Mortgage Interest Rate;

      

      (vi) with
        respect to each Mortgage Loan for which liquidation and final distribution
        has
        occurred, the aggregate amount of any Insurance Proceeds, Condemnation Proceeds,
        Liquidation Proceeds and REO Disposition Proceeds received during the prior
        distribution period;

      

      
        
          
          

        

        
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        (vii) with
          respect to each Mortgage Loan, the amount of any Prepayment Interest Shortfalls
          paid by the Company in accordance with Section 4.04(viii) during the prior
          distribution period; 

        

        (viii) [RESERVED];
 
        

      (ix) the
        number of Mortgage Loans as of the beginning of the distribution period and
        the
        ending of the distribution period; 

      

      (x) with
        respect to each Mortgage Loan, the Stated Principal Balance of each Mortgage
        Loan that is (A)
        delinquent (exclusive of Mortgage Loans in foreclosure and bankruptcy) (1)
        30
        days delinquent, (2) 60 days delinquent and (3) 90 days or more delinquent;
        (B)
        in foreclosure and delinquent (1) 30 days delinquent, (2) 60 days delinquent
        and
        (3) 90 days or more delinquent; and (C) in bankruptcy and delinquent (1)
        30 days
        delinquent, (2) 60 days delinquent and (3) 90 days or more delinquent, in
        each
        case as of the close of business on the last day of the calendar month preceding
        such Distribution Date and separately identifying such information for the
        (1)
        first lien Mortgage Loans, (2) second lien Mortgage Loans, and (3) adjustable
        rate Mortgage Loans;

      

      (xi) with
        respect to each Mortgage Loan, the amount and severity of any realized loss
        following liquidation of such Mortgage Loan; 

      

      (xii) with
        respect to each Mortgage Loan, and in the aggregate for all Mortgage Loans,
        the
        amount of the month end Monthly Advance balances made by the Company during
        the
        prior distribution period; 

      

      (xiii) with
        respect to each Mortgage Loan, a description of any Servicing Advances made
        by
        the Company with respect to such Mortgage Loan including the amount, terms
        and
        general purpose of such Servicing Advances, and the aggregate amount of
        Servicing Advances for all Mortgage Loans during the prior distribution
        period;

      

      (xiv) with
        respect to each Mortgage Loan, a description of any Nonrecoverable Advances
        made
        by the Company 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;

      

      (xv) with
        respect to each Mortgage Loan, a description of any Monthly Advances, Servicing
        Advances and Nonrecoverable Advances reimbursed to the Company 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 Company for all Mortgage Loans during the prior distribution
        period pursuant to Section 4.05; 

      
        
          
          

        

        
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        (xvi) 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;

        

        (xvii) 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;

      (xviii) with
        respect to each Mortgage Loan, the Stated Principal Balance of any substitute
        Mortgage Loan provided by the Company 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;

      

      (xix) with
        respect to each Mortgage Loan, the Stated Principal Balance of any Mortgage
        Loan
        that has been repurchased by the Company in accordance with Section 3.03
        herein.

      

      In
        addition, the Company shall provide to the Purchaser such other information
        known or available to the Company that is necessary in order to provide the
        distribution and pool performance information as required under Regulation
        AB,
        as amended from time to time, as determined by the Purchaser in its sole
        discretion. The Company shall also provide a monthly report, in the form
        of
Exhibit
        E
        hereto,
        or such other form as is mutually acceptable to the Company, the Purchaser
        and
        any Master Servicer, Exhibit
        F
        with
        respect to defaulted mortgage loans and Exhibit
        P,
        with
        respect to realized losses and gains, with each such report. 

      

      The
        Company shall prepare and file any and all information statements or other
        filings required to be delivered to any governmental taxing authority or
        to
        Purchaser pursuant to any applicable law with respect to the Mortgage Loans
        and
        the transactions contemplated hereby. In addition, the Company shall provide
        Purchaser with such information concerning the Mortgage Loans as is necessary
        for Purchaser to prepare its federal income tax return as Purchaser may
        reasonably request from time to time.

      

      In
        addition, not more than sixty (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.

      

      Section
        5.03 Monthly
        Advances by the Company.

      

      Not
        later
        than the close of business on the Business Day 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 payments not
        previously advanced by the Company, whether or not deferred pursuant to Section
        4.01, of principal (due after the Cut-off Date) and interest not allocable
        to
        the period prior to the Cut-off Date, adjusted to the Mortgage Loan Remittance
        Rate, which were due on a Mortgage Loan and delinquent at the close of business
        on the related Determination Date.

      

      
        
          
          

        

        
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        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 Remittance Date prior to the date on
          which the
          Mortgaged Property liquidates (including Insurance Proceeds, proceeds from
          the
          sale of REO Property or Condemnation Proceeds) with respect to the Mortgage
          Loan
          unless the Company deems such advance to be a Nonrecoverable Advance. In
          such
          event, the Company shall deliver to the Purchaser an Officer's Certificate
          of
          the Company to the effect that an officer of the Company has reviewed the
          related Mortgage File and has made the reasonable determination that any
          additional advances are nonrecoverable. 
 

      Section
        5.04 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
        in a
        form mutually acceptable to Company and Purchaser. The Company shall also
        provide reports on the status of REO Property containing such information
        as
        Purchaser may reasonably require.

      

      Section
        5.05 Prepayment
        Interest Shortfalls.

      

      Not
        later
        than the close of business on the Business Day preceding each Remittance
        Date in
        the month following the related Prepayment Period, the Company shall deposit
        in
        the Custodial Account an amount equal to any Prepayment Interest Shortfalls
        with
        respect to such Prepayment Period, which in the aggregate shall not exceed
        the
        Company’s aggregate Servicing Fee received with respect to the related Due
        Period.

       

      ARTICLE
        VI

      

      GENERAL
        SERVICING PROCEDURES

      

      Section
        6.01 Assumption
        Agreements.

      

      The
        Company will, to the extent it has knowledge of any conveyance or prospective
        conveyance by any Mortgagor of the 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 Company
        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 Company reasonably believes it is unable under applicable law to enforce
        such "due-on-sale" clause, the Company, with the approval of the Purchaser,
        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 Company, with the prior consent
        of
        the Purchaser and 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.
        

      
        
          
          

        

        
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      In
        connection with any such assumption or substitution of liability, the Company
        shall follow the underwriting practices and procedures of the Company. With
        respect to an assumption or substitution of liability, the Mortgage Interest
        Rate borne by the related Mortgage Note, the amount of the Monthly Payment
        and
        the maturity date may not be changed (except pursuant to the terms of the
        Mortgage Note). 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. The Company shall notify the Purchaser that any such
        substitution of liability or assumption agreement has been completed by
        forwarding to the Purchaser the original of any such substitution of liability
        or assumption agreement, which document shall be added to the related Mortgage
        File and shall, for all purposes, be considered a part of such Mortgage File
        to
        the same extent as all other documents and instruments constituting a part
        thereof. All fees collected by the Company for entering into an assumption
        or
        substitution of liability agreement shall belong to the Company.

      

      Notwithstanding
        the foregoing paragraphs of this Section or any other provision of this
        Agreement, the Company 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 Company 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 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 will immediately notify the Purchaser by a
        certification, which certification shall include a statement to the effect
        that
        all amounts received or to be received in connection with such payment which
        are
        required to be deposited in the Custodial Account pursuant to Section 4.04
        have
        been or will be so deposited, of a Servicing Officer and shall request delivery
        to it of the portion of the Mortgage File held by the Purchaser. The Purchaser
        shall no later than five Business Days after receipt of such certification
        and
        request, release or cause to be released to the Company, the related Mortgage
        Loan Documents and, upon its receipt of such documents, the Company shall
        promptly prepare and deliver to the Purchaser the requisite satisfaction
        or
        release. No later than five (5) Business Days following its receipt of such
        satisfaction or release, the Purchaser shall deliver, or cause to be delivered,
        to the Company the release or satisfaction properly executed by the owner
        of
        record of the applicable mortgage or its duly appointed attorney in fact.
        No
        expense incurred in connection with any instrument of satisfaction or deed
        of
        reconveyance shall be chargeable to the Custodial Account.

      
        
          
          

        

        
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      In
        the
        event the Company 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 Purchaser may have under the mortgage
        instruments, the Company, upon written demand, shall remit within two (2)
        Business Days to the Purchaser the then outstanding principal balance of
        the
        related Mortgage Loan by deposit thereof in the Custodial Account. The Company
        shall maintain the Fidelity Bond and errors and omissions insurance 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.

      

      From
        time
        to time and as appropriate for the servicing or foreclosure of the Mortgage
        Loan, including for the purpose of collection under any Primary Mortgage
        Insurance Policy, the Purchaser shall, upon request of the Company and delivery
        to the Purchaser of a servicing receipt signed by a Servicing Officer, release
        the portion of the Mortgage File held by the Purchaser to the Company. Such
        servicing receipt shall obligate the Company to return the related Mortgage
        documents to the Purchaser when the need therefor by the Company 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 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 Company
        has delivered to the Purchaser 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. Upon
        receipt of a certificate of a Servicing Officer stating that such Mortgage
        Loan
        was liquidated, the servicing receipt shall be released by the Purchaser
        to the
        Company.

      

      Section
        6.03 Servicing
        Compensation.

      

      As
        compensation for its services hereunder, the Company shall be entitled to
        withdraw from the Custodial Account (to the extent of interest payments
        collected on the Mortgage Loans) or to retain from interest payments collected
        on the Mortgage Loans, the amounts provided for as the Company's Servicing
        Fee,
        subject to payment of compensating interest on Principal Prepayments as capped
        by the Servicing Fee pursuant to Section 5.01 (iii). Additional servicing
        compensation in the form of assumption fees, as provided in Section 6.01,
        and
        late payment charges or otherwise shall be retained by the Company to the
        extent
        not required to be deposited in the Custodial Account. No Servicing Fee shall
        be
        payable in connection with partial Monthly Payments. 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 therefor
        except
        as specifically provided for.

      

      
        
          
          

        

        
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        Section
          6.04 Annual
          Statement as to Compliance; Annual Certification.

        

        (a) The
          Company will deliver to the Purchaser and any Master Servicer, not later
          than
          March 1 of each calendar year beginning in 2007, an Officer’s Certificate
          acceptable to the Purchaser (an “Annual Statement of Compliance”) stating, as to
          each signatory thereof, that (i) a review of the activities of the Company
          during the preceding calendar year and of 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, the Company 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. Copies
          of
          such statement shall be provided by the Company to the Purchaser upon request
          and by the Purchaser to any Person identified as a prospective purchaser
          of the
          Mortgage Loans. In the event that the Company has delegated any servicing
          responsibilities with respect to the Mortgage Loans to a Subservicer, the
          Company shall deliver an Annual Statement of Compliance of the Subservicer
          as
          described above as to each Subservicer as and when required with respect
          to the
          Company.

      (b) With
        respect to any Mortgage Loans that are the subject of a Securitization
        Transaction, by March 1 of each calendar year beginning in 2007, an officer
        of
        the Company shall execute and deliver an officer’s certificate (an “Annual
        Certification”) to the Purchaser, 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
        L.
        In the
        event that the Company has delegated any servicing responsibilities with
        respect
        to the Mortgage Loans to a Subservicer, the Company shall deliver an Annual
        Certification of the Subservicer as described above as to each Subservicer
        as
        and when required with respect to the Company.

      

      (c) If
        the
        Company cannot deliver the related Annual Statement of Compliance and Annual
        Certification by March 1st
        of such
        year, the Purchaser, at its sole option, may permit a cure period for the
        Company to deliver such Annual Statement of Compliance and Annual Certification,
        but in no event later than March 10th of such year.

      

      Failure
        of the Company to timely comply with this Section 6.04 (including with respect
        to the cure timeframes required in this section) shall be deemed an Event
        of
        Default, automatically, without notice and without any cure period, unless
        otherwise agreed to by the Purchaser as set forth in 6.04(c), and Purchaser
        may,
        in addition to whatever rights the Purchaser may have under Sections 3.03
        and
        8.01 and at law or equity or to damages, including injunctive relief and
        specific performance, terminate all the rights and obligations of the Company
        under this Agreement and in and to the Mortgage Loans and the proceeds thereof
        without compensating the Company 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 supercede any other provision in this Agreement
        or any other agreement to the contrary.

      

      
        
          
          

        

        
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        Section
          6.05 [Reserved]

        

        Section
          6.06 Purchaser's
          Right to Examine Company Records.

      The
        Purchaser shall have the right to examine and audit upon reasonable notice
        to
        the Company, 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 Company, or held by another for the Company or
        on
        its behalf or otherwise, which relates to the performance or observance by
        the
        Company of the terms, covenants or conditions of this Agreement.

      

      The
        Company shall provide to the Purchaser and any supervisory agents or examiners
        representing a state or federal governmental agency having jurisdiction over
        the
        Purchaser, including but not limited to OTS, FDIC and other similar entities,
        access to any documentation regarding the Mortgage Loans in the possession
        of
        the Company 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 Company, and in accordance with
        the
        FDIC, OTS, or any other similar federal or state regulations, as
        applicable.

      

      Section
        6.07 Assessment
        of Compliance with Servicing Criteria.

      

      On
        and
        after January 1, 2006, the Company 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 Securitization
        Transaction, the Company shall deliver to the Purchaser or its designee,
        any
        Master Servicer and any Depositor on or before March 1 of each calendar year
        beginning in 2007, a report (an “Assessment of Compliance”) reasonably
        satisfactory to the Purchaser, any Master Servicer and any Depositor regarding
        the Company’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, which as of the date hereof, require a report by an authorized
        officer
        of the Company that contains the following:

      

      
        
          
          

        

        
          65

          
            

          

        

        
          
          

        

      

      
         

         

        (a) A
          statement by such officer of its responsibility for assessing compliance
          with
          the Servicing Criteria applicable to the Company;

        

        (b) A
          statement by such officer that such officer used the Servicing Criteria
          to
          assess compliance with the Servicing Criteria applicable to the
          Company;

        

        (c) An
          assessment by such officer of the Company’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
          it
          performs with respect to asset-backed securities transactions taken as
          a whole
          involving the Company, 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 Company’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 Company, which statement shall be based on the activities it performs
        with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Company, 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 a
        certification substantially in the form of Exhibit
        O
        hereto
        delivered to the Company concurrently with the execution of this
        Agreement.

      

      With
        respect to any Mortgage Loans that are the subject of a Securitization
        Transaction, on or before March 1 of each calendar year beginning in 2007,
        the
        Company shall furnish to the Purchaser or its designee, any Master Servicer
        and
        any Depositor a report (an “Attestation Report”) by a registered public
        accounting firm that attests to, and reports on, the Assessment of Compliance
        made by the Company, 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 Company Accounting Oversight
        Board. 

      

      The
        Company shall cause each Subservicer, and each Subcontractor determined by
        the
        Company pursuant to Section 11.20 to be “participating in the servicing
        function” within the meaning of Item 1122 of Regulation AB, to deliver to the
        Purchaser, any Master Servicer and any Depositor an assessment of compliance
        and
        accountants’ attestation as and when provided in Sections 6.07.

      

      If
        the
        Company cannot deliver the related Assessment of Compliance or Attestation
        Report by March 1st
        of such
        year, the Purchaser, at its sole option, may permit a cure period for the
        Company to deliver such Assessment of Compliance or Attestation Report, but
        in
        no event later than March 10th of such year.

      

      
        
          
          

        

        
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        Failure
          of the Company to timely comply with this Section 6.07 (including with
          respect
          to the cure timeframes required in this section) shall be deemed an Event
          of
          Default, automatically, without notice and without any cure period, unless
          otherwise agreed to by the Purchaser as described herein, and Purchaser
          may, in
          addition to whatever rights the Purchaser may have under Sections 3.03
          and 8.01
          and at law or equity or to damages, including injunctive relief and specific
          performance, terminate all the rights and obligations of the Company under
          this
          Agreement and in and to the Mortgage Loans and the proceeds thereof without
          compensating the Company 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 supercede any other provision in this Agreement
          or any other agreement to the contrary.

        

        Section
          6.08 Intent
          of the Parties; Reasonableness.

      The
        Purchaser and the Company acknowledge and agree that a purpose of Sections
        3.01(p), 5.02, 6.04, 6.07 and 11.18 of this Agreement is to facilitate
        compliance by the Purchaser and any Depositor with the provisions of Regulation
        AB and related rules and regulations of the Commission. None of the Purchaser,
        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
        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.

      

      ARTICLE
        VII

      

      REPORTS
        TO BE PREPARED BY SERVICER

      

      Section
        7.01 Company
        Shall Provide Information as Reasonably Required.

      

      
        
          
          

        

        
          67

          
            

          

        

        
          
          

        

      

      
        The
          Company shall furnish to the Purchaser during the term of this Agreement,
          such
          periodic, special or other reports, information or documentation, whether
          or not
          provided for herein, as shall be necessary, reasonable or appropriate in
          respect
          to the Purchaser, or otherwise in respect to the Mortgage Loans and the
          performance of the Company under this Agreement, including any reports,
          information or documentation reasonably required to comply with any regulations
          regarding any supervisory agents or examiners of the Purchaser all such
          reports
          or information to be as provided by and in accordance with such applicable
          instructions and directions as the Purchaser may reasonably request in
          relation
          to this Agreement or the performance of the Company under this Agreement.
          The
          Company 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 purpose and to carry out the terms of this
          Agreement.

        

        In
          connection with marketing the Mortgage Loans, the Purchaser may make available
          to a prospective purchaser audited financial statements of the Company
          for the
          most recently completed two (2) fiscal years for which such statements
          are
          available, as well as a Consolidated Statement of Condition at the end
          of the
          last two (2) fiscal years covered by any Consolidated Statement of Operations.
          If it has not already done so, the Company shall furnish promptly to the
          Purchaser or a prospective purchaser copies of the statements specified
          above.

      

      

      The
        Company shall make reasonably available to the Purchaser or any prospective
        Purchaser a knowledgeable financial or accounting officer for the purpose
        of
        answering questions 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.

      
        
          
          

        

        
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      ARTICLE
        VIII

      

      THE
        SERVICER

      

      Section
        8.01 Indemnification;
        Third Party Claims.

      

      The
        Company agrees to indemnify the Purchaser and hold it harmless 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
        Purchaser may sustain in any way related to the failure of the Company to
        observe and perform its duties, obligations, covenants, and agreements to
        service the Mortgage Loans in strict compliance with the terms of this
        Agreement. The Company agrees to indemnify the Purchaser and hold it harmless
        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 Purchaser may sustain in any way from any claim, demand, defense
        or
        assertion based on or grounded upon, or resulting from any assertion based
        on,
        grounded upon or resulting from a breach or alleged breach of any of the
        representation or warranty set forth in Sections 3.01 or 3.02 of this Agreement.
        The Company shall immediately notify the Purchaser if a claim is made by
        a third
        party against Company with respect to this Agreement or the Mortgage Loans,
        assume (with the consent of the Purchaser) the defense of any such claim
        and pay
        all expenses in connection therewith, including counsel fees, whether or
        not
        such claim is settled prior to judgment, 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
        shall
        promptly reimburse the Company for all amounts advanced by it pursuant to
        the
        two preceding sentences except when the claim relates to the failure of the
        Company to service and administer the Mortgages in strict compliance with
        the
        terms of this Agreement, the breach of representation or warranty set forth
        in
        Sections 3.01 or 3.02, or the negligence, bad faith or willful misconduct
        of
        Company. The provisions of this Section 8.01 shall survive termination of
        this
        Agreement.

      

      Section
        8.02 Merger
        or Consolidation of the Company.

      

      The
        Company 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 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
        whether or not related to loan servicing, 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 (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, and which
        is a
        HUD-approved mortgagee whose primary business is in origination and servicing
        of
        first lien mortgage loans, and (iii) who is a Fannie Mae or FHLMC approved
        seller/servicer in good standing.

      
        
          
          

        

        
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      Section
        8.03 Limitation
        on Liability of the Company and Others.

      

      Neither
        the Company nor any of the 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 made in good faith; 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
        liability which would otherwise be imposed by reason of negligence, bad faith
        or
        willful misconduct, or any breach of the terms and conditions of this Agreement.
        The Company and any 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
        the Purchaser 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 reasonable opinion may involve it in any
        expenses 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 reasonable legal expenses and costs of such action
        and any liability resulting therefrom shall be expenses, costs and liabilities
        for which the Purchaser will be liable, and the Company shall be entitled
        to be
        reimbursed therefor from the Purchaser upon written demand.

      

      Section
        8.04 Company
        Not to Assign or Resign.

      

      The
        Company shall not assign this Agreement or 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 11.01.

      

      Section
        8.05 No
        Transfer of Servicing.

      

      With
        respect to the retention of the Company to service the Mortgage Loans hereunder,
        the Company acknowledges that the Purchaser has acted in reliance upon the
        Company'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 Company 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 Purchaser,
        which
        consent shall be granted or withheld in the Purchaser's sole
        discretion.

      
        
          
          

        

        
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      Without
        in any way limiting the generality of this Section 8.05, in the event that
        the
        Company either shall assign this Agreement or the servicing responsibilities
        hereunder or delegate its duties hereunder or any portion thereof without
        (i)
        satisfying the requirements set forth herein or (ii) the prior written consent
        of the Purchaser, then the Purchaser shall have the right to terminate this
        Agreement, without any payment of any penalty or damages and without any
        liability whatsoever to the Company (other than with respect to accrued but
        unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third
        party. 

      

       

      
        
          
          

        

        
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      ARTICLE
        IX

      

      DEFAULT

      

      Section
        9.01 Events
        of Default.

      

      In
        case
        one or more of the following Events of Default by the Company shall occur
        and be
        continuing, that is to say:

      

      (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 one
        (1) Business Day; or

      

      (ii)
        failure on the part of 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 which 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 Company by the Purchaser;
        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, marshalling 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 decree or order
        shall have remained in force undischarged or unstayed for a period of sixty
        days; or

      

      (iv)
        the
        Company 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 Company
        or
        of or relating to all or substantially all of its property; or

      

      (v)
        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
        or
        reorganization statute, make an assignment for the benefit of its creditors,
        or
        voluntarily suspend payment of its obligations; or

      

      (vi)
        Company ceases to be approved by either Fannie Mae or FHLMC as a mortgage
        loan
        seller or servicer for more than thirty days; or

      

      (vii)
        the
        Company attempts to assign its right to servicing compensation hereunder
        or the
        Company attempts, without the consent of the Purchaser, 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; or

      
        
          
          

        

        
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      (viii)
        the Company ceases to be (a) licensed to service first lien residential mortgage
        loans in any jurisdiction in which a Mortgaged Property is located and such
        licensing is required, and (b) qualified to transact business in any
        jurisdiction where it is currently so qualified, but only to the extent such
        non-qualification materially and adversely affects the Company's ability
        to
        perform its obligations hereunder; or

      

      (ix)
        the
        Company fails to meet the eligibility criteria set forth in the last sentence
        of
        Section 8.02.

      

      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 Company (except in the
        case
        of an Event of Default under clauses (iii), (iv) or (v) above, or as otherwise
        stated herein, in which case, automatically and without notice) Company may,
        in
        addition to whatever rights the Purchaser may have under Sections 3.03 and
        8.01
        and at law or equity or to damages, including injunctive relief and specific
        performance, terminate all the rights and obligations of the Company (and
        if the
        Company 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 Company for the same.
        On
        or after the receipt by the Company of such written notice (or, in the case
        of
        an Event of Default under clauses (iii), (iv) or (v) above, in which case,
        automatically and without 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 11.01.
        Upon
        written request from the Purchaser, the Company shall prepare, execute and
        deliver, any and all documents and other instruments, place in such successor'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 Company's sole expense.
        The
        Company agrees to 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 or Escrow Account or thereafter received with respect
        to
        the Mortgage Loans or any REO Property.

      

      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.

       

      
        
          
          

        

        
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        Section
          9.02 Waiver
          of Defaults.

      The
        Purchaser may waive only by written notice any default by the Company 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.

      

      
        
          
          

        

        
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      ARTICLE
        X

      

      TERMINATION

      

      Section
        10.01 Termination.

       

      The
        respective obligations and responsibilities of the Company shall terminate
        upon:
        (i) the later of the final payment or other liquidation (or any advance with
        respect thereto) of the last Mortgage Loan and the disposition of all remaining
        REO Property and the remittance of all funds due hereunder; or (ii) by mutual
        consent of the Company and the Purchaser in writing; or (iii) termination
        with
        cause under the terms of this Agreement. Termination of the Agreement pursuant
        to Section 10.01 (iii) shall void Purchaser’s obligation to purchase Mortgage
        Loans for which Purchaser has issued a Confirmation, commitment confirmation
        or
        a substantially similar commitment to purchase Mortgage Loans.

      

      

      Section
        10.02 Termination
        Without Cause.

      

      The
        Purchaser may, at its sole option, terminate any rights the Company may have
        hereunder, without cause, upon no less than 90 days written notice. Any such
        notice of termination shall be in writing and delivered to the Company as
        provided in Section 11.05 of this Agreement. 

      

      Section
        10.03 Survival.

       

      Termination
        of this Agreement under Section 10.01 or Section 10.02 shall not affect any
        of
        the Company’s obligations regarding repurchase, indemnification or otherwise,
        all of which shall survive such termination and remain in full force and
        effect.

      

       

      ARTICLE
        XI

      

      MISCELLANEOUS
        PROVISIONS

      

      Section
        11.01 Successor
        to the Company.

      

      Prior
        to
        termination of Company's responsibilities and duties under this Agreement
        pursuant to Sections 4.13, 8.04, 9.01, 10.01 (ii) or (iii), 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 hereof 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 the
        Purchaser 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 Company 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 Company of the representations and warranties made pursuant
        to
        Sections 3.01, 3.02 and 3.03 and the remedies available to the Purchaser
        thereunder and under Section 8.01, 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 resignation or termination of the Company,
        or
        the termination of this Agreement.

      
        
          
          

        

        
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      Any
        successor appointed as provided herein shall execute, acknowledge and deliver
        to
        the Company 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 Company, with
        like
        effect as if originally named as a party to this Agreement. Any termination
        or
        resignation of the Company or this Agreement pursuant to Section 4.13, 8.04,
        9.01 or 10.01 shall not affect any claims that the Purchaser may have against
        the Company arising prior to any such termination or resignation.

      

      The
        Company shall promptly deliver to the successor the funds in the Custodial
        Account and the Escrow Account and the Mortgage Files and related documents
        and
        statements held by it hereunder and the Company shall account for all funds.
        The
        Company 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 Company. The successor shall make arrangements as it may
        deem
        appropriate to reimburse the Company for unrecovered Servicing Advances which
        the successor retains hereunder and which would otherwise have been recovered
        by
        the Company pursuant to this Agreement but for the appointment of the successor
        servicer.

      

      Upon
        a
        successor's acceptance of appointment as such, the Company shall notify by
        mail
        the Purchaser of such appointment.

      

      Section
        11.02 Amendment.

      

      This
        Agreement may be amended from time to time by the Company and the Purchaser
        by
        written agreement signed by the Company and the Purchaser.

      
        
          
          

        

        
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      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 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 Company at the Company's
        expense on direction of the Purchaser accompanied by an opinion of counsel
        to
        the effect that such recordation materially and beneficially affects the
        interest of the Purchaser or is necessary for the administration or servicing
        of
        the Mortgage Loans.

      

      Section
        11.04 Governing
        Law.

      

      This
        Agreement and the related Term Sheet shall be governed by and construed in
        accordance with the laws of the State of New York except to the extent preempted
        by Federal law. 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 certified mail, return receipt requested, or transmitted by
        telex,
        telegraph or telecopier and confirmed by a similar mailed writing, as
        follows:

      

      (i) if
        to the
        Company:

       

      Provident
        Funding Associates, L.P.

      1633
        Bayshore Hwy, Suite 155

      Burlingame,
        California 94010

      Attention:
        Michelle Blake

       

      (ii)
        if
        to the Purchaser:

       

      EMC
        Mortgage Corporation 

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        Ms. Ralene Ruyle

      Telecopier
        No.: (972) 444-2810

      

      With
        a
        copy to:

      
        
          
          

        

        
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      Bear
        Stearns Mortgage Capital Corporation

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Mary Haggerty

      

      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
        11.06 Severability
        of Provisions.

      

      Any
        part,
        provision, representation or warranty of this Agreement and the related Term
        Sheet 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 that 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;

      
        
          
          

        

        
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      (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; 

      

      (vi)
         the
        term
        "include" or "including" shall mean without limitation by reason of enumeration;
        and

      

      (viii)
         headings
        of the Articles and Sections in this Agreement are for reference purposes
        only
        and shall not be deemed to have any substantive effect.

      

      Section
        11.09 Reproduction
        of Documents.

      

      This
        Agreement and all documents relating thereto, 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. 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 the Agreement, provided
        that each party may provide confidential information to its employees, agents
        and affiliates who have a need to know such information in order to effectuate
        the transaction, provided further that such information is identified as
        confidential non-public information. In addition, confidential information
        may
        be provided to a regulatory authority with supervisory power over Purchaser,
        provided such information is identified as confidential non-public
        information.

      
        
          
          

        

        
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      Notwithstanding
        other provisions of this Section 11.10 or any other express or implied
        agreement, arrangement, or understanding to the contrary, the Company and
        Purchaser (the “Parties”) agree that the Parties (and their employees,
        representatives and other agents) may disclose to any and all persons, without
        limitation of any kind from the commencement of discussions, the purported
        or
        claimed U.S. federal income tax treatment of the purchase of the Mortgage
        Loans
        and related transactions covered by this letter agreement (“tax treatment”) and
        any fact that may be relevant to understanding the tax treatment (“tax
        structure”) and all materials of any kind (including opinions or other tax
        analyses) that are provided to the Parties relating to such tax treatment
        and
        tax structure, except where confidentiality is reasonably necessary to comply
        with securities laws.

      

      The
        Company agrees that the Company (i) shall comply with any applicable laws
        and
        regulations regarding the privacy and security of Consumer Information
        including, but not limited to the Gramm-Leach-Bliley Act, Title V, Subtitle
        A,
        15 U.S.C. § 6801 et seq., (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 Purchaser,
        (iv)
        shall maintain adequate physical, technical and administrative safeguards
        to
        protect Consumer Information from unauthorized access as provided by the
        applicable laws and regulations, and (v) shall immediately notify the Purchaser
        of any actual or suspected breach of the confidentiality of Consumer Information
        that would have a material and adverse effect on the Purchaser.

      

      The
        Company agrees that the Company shall indemnify, defend and hold the Purchaser
        harmless from and against any loss, claim or liability the Purchaser may
        suffer
        by reason of the Company's failure to perform the obligations set forth in
        this
        Section 11.10.

      

      

      Section
        11.11 Recordation
        of Assignments of Mortgage.

      

      To
        the
        extent permitted by applicable law, each of the Assignments 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 and 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
        11.12 Assignment.

      

      The
        Purchaser shall have the right, without the consent of the Company, 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 and Assumption Agreement
        substantially in the form of Exhibit D hereto and the assignee or designee
        shall
        accede to the rights and obligations hereunder of the Purchaser with respect
        to
        such Mortgage Loans. In no event shall Purchaser sell a partial interest
        in any
        Mortgage Loan without the written consent of Company, which consent shall
        not be
        unreasonably denied. All references to the Purchaser in this Agreement shall
        be
        deemed to include its assignee or designee. The Company shall have the right,
        only with the consent of the Purchaser or otherwise in accordance with this
        Agreement, to assign, in whole or in part, its interest under this Agreement
        with respect to some or all of the Mortgage Loans.

      
        
          
          

        

        
          80

          
            

          

        

        
          
          

        

      

      

      

      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 Company
        shall
        be rendered as an independent contractor and not as agent for
        Purchaser.

      

      Section
        11.14 Signature
        Pages/Counterparts; Successors and Assigns.
        

      

      This
        Agreement and/or any Term Sheet shall be executed by each party (i) in one
        or
        more fully executed copies, each of which shall constitute a fully executed
        original Agreement, and/or (ii) in counterparts having one or more original
        signatures, and all such counterparts containing the original signatures
        of all
        of the parties hereto taken together shall constitute a fully executed original
        Agreement or Term Sheet, as applicable, and/or (iii) by delivery of one or
        more
        original signed signature pages to the other parties hereto (x) by mail or
        courier, and/or (y) by electronic transmission, including without limitation
        by
        telecopier, facsimile or email of a scanned image (“Electronic Transmission”),
        each of which as received shall constitute for all purposes an executed original
        signature page of such party. The Purchaser may deliver a copy of this Agreement
        and/or any Term Sheet, fully executed as provided herein, to each other party
        hereto by mail and/or courier and/or Electronic Transmission, and such copy
        as
        so delivered shall constitute a fully executed original Agreement or Term
        Sheet,
        as applicable, superseding any prior form of the Agreement or Term Sheet,
        as
        applicable, that differs therefrom in any respect. This Agreement shall inure
        to
        the benefit of and be binding upon the Company and the Purchaser and their
        respective successor and assigns.

       

      

      Section
        11.15 Entire
        Agreement.

      

      The
        Company acknowledges that no representations, agreements or promises were
        made
        to the Company by the Purchaser or any of its employees other than those
        representations, agreements or promises specifically contained herein and
        in the
        Confirmation. The Confirmation and this Agreement and the related Term Sheet
        sets forth the entire understanding between the parties hereto; provided,
        however, only this Agreement and the related Term Sheet shall be binding
        upon
        all successors of both parties. In the event of any inconsistency between
        the
        Confirmation and this Agreement, this Agreement and the related Term Sheet
        shall
        control.

      

       

      
        
          
          

        

        
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      Section
        11.16. No
        Solicitation.

       

      From
        and
        after the Closing Date, the Company agrees that it will not take any action
        or
        permit or cause any action to be taken by any of its agents or affiliates,
        to
        personally, by telephone or mail, solicit the borrower or obligor under any
        Mortgage Loan to refinance the Mortgage Loan, in whole or in part, without
        the
        prior written consent of the Purchaser. Notwithstanding the foregoing, it
        is
        understood and agreed that (i) promotions undertaken by the Company or any
        affiliate of the Company which are directed to the general public at large,
        or
        segments thereof, provided that no segment shall consist primarily of the
        Mortgage Loans, including, without limitation, mass mailing based on
        commercially acquired mailing lists, newspaper, radio and television
        advertisements and (ii) responses to unsolicited requests or inquiries made
        by a
        Mortgagor or an agent of a Mortgagor, shall not constitute solicitation under
        this Section 11.16. This Section 11.16 shall not be deemed to preclude the
        Company or any of its affiliates from soliciting any Mortgagor for any other
        financial products or services. The Company shall use its best efforts to
        prevent the sale of the name of any Mortgagor to any Person who is not affiliate
        of the Company.

      

      Section
        11.17. Closing.

      

      The
        closing for the purchase and sale of the Mortgage Loans shall take place
        on the
        related Closing Date. 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 for the Mortgage Loans to be purchased on the related Closing Date
        shall
        be subject to each of the following conditions:

      

      (a) at
        least
        one (1) Business Day prior to the related Closing Date, the Company shall
        deliver to the Purchaser a magnetic diskette, or transmit by modem, a listing
        on
        a loan-level basis of the information contained in the related Mortgage Loan
        Schedule attached to the related Term Sheet;

      

      (b) all
        of
        the representations and warranties of the Company under this Agreement shall
        be
        materially true and correct as of the related Closing Date and no event shall
        have occurred which, with notice or the passage of time, would constitute
        a
        material default under this Agreement;

      

      (c) the
        Purchaser shall have received, or the Purchaser's attorneys shall have received
        in escrow, all documents required pursuant to this Agreement, the related
        Term
        Sheet, an opinion of counsel and an officer's certificate, all 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 terms
        hereof;

      

      
        
          
          

        

        
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        (d) the
          Company shall have delivered and released to the Purchaser (or its designee)
          on
          or prior to the related Closing Date all documents required pursuant to
          the
          terms of this Agreement and the related Term Sheet; and
 

      (e) all
        other
        terms and conditions of this Agreement, the related Term Sheet and the
        Confirmation shall have been materially complied with.

      

      Subject
        to the foregoing conditions, the Purchaser shall pay to the Company on the
        related Closing Date the Purchase Price, plus accrued interest pursuant to
        Section 2.02 of this Agreement, by wire transfer of immediately available
        funds
        to the account designated by the Company.

      

      Section
        11.18. Cooperation
        of Company with a Reconstitution.

      

      The
        Company and the Purchaser 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 Purchaser's sole option, the Purchaser may
        effect
        a sale (each, a "Reconstitution") of some or all of the Mortgage Loans then
        subject to this Agreement, without recourse, to:

      

      (a) one
        or
        more third party purchasers in one or more in whole loan transfers (each,
        a
        "Whole Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more Securitization
        Transactions.

      

      The
        Company agrees to execute in connection with any agreements among the Purchaser,
        the Company, and any servicer in connection with a Whole Loan Transfer, an
        Assignment, Assumption and Recognition Agreement substantially in the form
        of
Exhibit
        D
        hereto,
        or, at Purchaser’s request, a seller's warranties and servicing agreement or a
        participation and servicing agreement or similar agreement in form and substance
        reasonably acceptable to the parties, and in connection with a Securitization
        Transaction, a pooling and servicing agreement in form and substance reasonably
        acceptable to the parties, (collectively the agreements referred to herein
        are
        designated, the “Reconstitution Agreements”). It is understood that any such
        Reconstitution Agreements will not contain any greater obligations on the
        part
        of Company than are contained in this Agreement. Notwithstanding anything
        to the
        contrary in this Section 11.18, the Company agrees that it is required to
        perform the obligations described in Exhibit
        K
        hereto.

      

      With
        respect to each Whole Loan Transfer and each Securitization Transaction entered
        into by the Purchaser, the Company agrees (1) to cooperate fully with the
        Purchaser and any prospective purchaser with respect to all reasonable requests
        and due diligence procedures; (2) to execute, deliver and perform all
        Reconstitution Agreements required by the Purchaser; (3) to restate the
        representations and warranties set forth in this Agreement as of the settlement
        or closing date in connection with such Reconstitution (each, a "Reconstitution
        Date"). 

      

      
        
          
          

        

        
          83

          
            

          

        

        
          
          

        

      

      

      
        In
          addition, the Company shall provide to such servicer or issuer, as the
          case may
          be, and any other participants in such Reconstitution: 

        

        (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 or any such other participant shall
          request upon reasonable demand; 

      (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 agreed upon by the Company and the Purchaser or any such
        other
        participant;

      

      (iii) within
        5
        Business Days after request by the Purchaser, the information with respect
        to
        the Company (as originator) and each Third-Party Originator of the Mortgage
        Loans as required under Item 1110(a) and (b) of Regulation AB, a summary
        of the
        requirements of which has of the date hereof is attached hereto as Exhibit
        N
        for
        convenience of reference only, as determined by Purchaser in its sole
        discretion. If requested by the Purchaser, this will include information
        about
        the applicable credit-granting or underwriting criteria;

      

      (iv) within
        5
        Business Days after request by the Purchaser, 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 (i) the Company, if the Company is an originator of Mortgage
        Loans
        (including as an acquirer of Mortgage Loans from a Qualified Correspondent),
        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)(1)-(3)
        and (c) 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;

      

      
        
          
          

        

        
          84

          
            

          

        

        
          
          

        

      

       

      
        (v) within
          5
          Business Days after request by the Purchaser, information with respect
          to the
          Company (as servicer) as required by Item 1108(b) and (c) of Regulation
          AB, a
          summary of the requirements of which as of the date hereof is attached
          hereto as
Exhibit
          N
          for
          convenience of reference only, as determined by Purchaser in its sole
          discretion. In the event that the Company has delegated any servicing
          responsibilities with respect to the Mortgage Loans to a Subservicer, the
          Company shall provide the information required pursuant to this clause
          with
          respect to the Subservicer;

        

        (vi) within
          5
          Business Days after request by the Purchaser, 

        (a)
          information regarding any legal proceedings pending (or known to be
          contemplated) against the Company (as originator and as servicer) and each
          other
          originator of the Mortgage Loans and each Subservicer as required by Item
          1117
          of Regulation AB, a summary of the requirements of which as of the date
          hereof
          is attached hereto as Exhibit N for convenience of reference only, as determined
          by Purchaser in its sole discretion,

      

      (b)
        information regarding affiliations with respect to the Company (as originator
        and as servicer) and each other originator of the Mortgage Loans and each
        Subservicer as required by Item 1119(a) of Regulation AB, a summary of the
        requirements of which as of the date hereof is attached hereto as Exhibit
        N
        for
        convenience of reference only, as determined by Purchaser in its sole
        discretion, and

      (c)
        information regarding relationships and transactions with respect to the
        Company
        (as originator and as servicer) and each other originator of the Mortgage
        Loans
        and each Subservicer as required by Item 1119(b) and (c) of Regulation AB,
        a
        summary of the requirements of which as of the date hereof is attached hereto
        as
Exhibit
        N
        for
        convenience of reference only, as determined by Purchaser in its sole
        discretion; 

      

      (vii) if
        so
        requested by the Purchaser, 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, or to any financial information included in any
        other disclosure provided under this Section 11.18, 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; 

      

      
        
          
          

        

        
          85

          
            

          

        

        
          
          

        

      

      

      
        (viii)
          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), in accordance
          with
          Section 3.01(r), (i) provide immediate 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 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 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; 

      (ix)
        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, 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 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
        its reporting obligation under Item 6.02 of Form 8-K with respect to any
        class
        of asset-backed securities; 

      

      (x)
        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):

      

      (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

      

      
        
          
          

        

        
          86

          
            

          

        

        
          
          

        

      

      
        (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

        

        (xi)
          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.

        

        In
          the
          event of a conflict or inconsistency between the terms of Exhibit N and
          the text
          of the applicable Item of Regulation AB as cited above, the text of Regulation
          AB, its adopting release and other public statements of the SEC shall
          control.

        

        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 this Section 11.18 by or on behalf of the Company,
        or
        provided under this Section 11.18 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;

      

      
        
          
          

        

        
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        (ii)
          any
          breach by the Company of its obligations under this Section 11.18, 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 Section
          11.18, including any failure by the Company to identify pursuant to Section
          11.20 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
          3.01
          or in a writing furnished pursuant to Section 3.01(q) 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 3.01(q) 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 11.18.

        

        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 above, 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.

      

      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.

      

      Section
        11.19. Monthly
        Reporting with Respect to a Reconstitution.

      

      
        
          
          

        

        
          88

          
            

          

        

        
          
          

        

      

      
        As
          long
          as the Company continues to service Mortgage Loans, the Company agrees
          that with
          respect to any Mortgage Loan sold or transferred pursuant to a Reconstitution
          as
          described in Section 11.18 of this Agreement (a “Reconstituted Mortgage Loan”),
          the Company, at its expense, shall provide the Purchaser with the information
          set forth in Exhibit J attached hereto for each Reconstituted Mortgage
          Loan in
          Excel or such electronic delimited file format as may be mutually agreed
          upon by
          both Purchaser and Company. Such information shall be provided monthly
          for all
          Reconstituted Mortgage Loans on the fifth (5th)
          Business Day of each month for the immediately preceding monthly period,
          and
          shall be transmitted to fast.data@bear.com.

        

        Section
          11.20. Unpaid
          Fees and Expenses and other Amounts Owing to Purchaser; Offset. 

        

        It
          is
          understood that this Agreement creates an ongoing relationship between
          the
          parties.  As a result, there may be various fees, charges, and expenses
          assessed by Purchaser on each sale.  In addition, there may be amounts owed
          to Purchaser as a result of certain obligations relating to repurchase
          of
          Mortgage Loans, premium recapture or indemnification of Purchaser, all
          as set
          forth in the Agreement or in each related Term Sheet.   If any such
          amount due Purchaser from Company remains outstanding more than thirty
          (30) days
          after it is due, Company then hereby authorizes Purchaser to deduct from
          any
          subsequent purchase proceeds hereunder such amounts (which
          amounts may be an initial payment of amounts owed Purchaser, subject to
          further
          adjustment) due
          Purchaser, plus interest at an annual rate equal to the Prime Rate from
          the due
          date through the date of payment. Furthermore, Company authorizes Purchaser
          to set off any funds or other assets of Company in possession of Bear,
          Stearns
& Co. Inc. or any of its affiliates against any loss, damage or expense
          Purchaser may incur as a result of Company’s breach of its obligations hereunder
          or in the related Term Sheet.   

      

      

      Section
        11.21. Use
        of
        Subservicers and Subcontractors.

      

      (a) 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 (b) of this Section. 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 (d) of this Section. 

      

      (b) 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 3.01(p), 3.01(s), 6.04, 6.07 and 11.18
        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
        3.01(r) of this Agreement. The Company shall be responsible for obtaining
        from
        each Subservicer and delivering to the Purchaser, 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 6.07 and
        any
        Annual Certification required under Section 6.04(b) as and when required
        to be
        delivered.

      

      
        
          
          

        

        
          89

          
            

          

        

        
          
          

        

      

      
        (c) 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, 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, (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 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 6.07 and 11.18 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 Report and the other certificates required to be delivered
          by such
          Subservicer and such Subcontractor under Section 6.07, in each case as
          and when
          required to be delivered.

        

        Section
          11.22. 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.

      

      
        
          
          

        

        
          90

          
            

          

        

        
          
          

        

      

      

      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

              
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:

                Title:

              
	 	 

      

      
         

        
          	 	 	 
	 	
                  
                    PROVIDENT
                      FUNDING ASSOCIATES, L.P.

                    Company

                  

                
	 
 	 
 	 
 
	 	By:  	 
	 	
                  

                  Name:

                  Title:

                
	 	 

        

      

      
        
          
          

        

        
          91

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        A

      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,
        and
        which shall be retained by the Company in the Servicing File or delivered
        to the
        Purchaser or its designee pursuant to Sections 2.04 and 2.05 of the Purchase,
        Warranties and Servicing Agreement.

      

      1.
        The
        original Mortgage Note endorsed "Pay to the order of
        ____________________________________________________, without recourse,"
        and
        signed via original signature in the name of the Company by an authorized
        officer, with all intervening endorsements showing a complete chain of title
        from the originator to the Company, together with any applicable riders.
        In no
        event may an endorsement be a facsimile endorsement. If the Mortgage Loan
        was
        acquired by the Company in a merger, the endorsement must be by "[Company],
        successor by merger to the [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 "[Company] formerly known as [previous name]".
        Mortgage Notes may be in the form of a lost note affidavit subject to Purchaser
        acceptability. 

      

      2.
        The
        original Mortgage (together with a standard adjustable rate mortgage rider)
        with
        evidence of recording thereon, or a copy thereof certified by the public
        recording office in which such mortgage has been recorded or, if the original
        Mortgage has not been returned from the applicable public recording office,
        a
        true certified copy, certified by the Company.

      

      3.
        The
        original or certified copy, certified by the Company, of the Primary Mortgage
        Insurance Policy, if required.

      

      4. The
        original Assignment, from the Company to _____________________________________,
        or in accordance with Purchaser's instructions, which assignment shall, but
        for
        any blanks requested by Purchaser, be in form and substance acceptable for
        recording. If the Mortgage Loan was acquired or originated by the Company
        while
        doing business under another name, the Assignment must be by "[Company] formerly
        known as [previous name]". If the Mortgage Loan was acquired by the Company
        in a
        merger, the endorsement must be by "[Company], successor by merger to the
        [name
        of predecessor]". None of the Assignments are blanket assignments of
        mortgage.

      

      5. The
        original policy of title insurance, including riders and endorsements thereto,
        or if the policy has not yet been issued, a written commitment or interim
        binder
        or preliminary report of title issued by the title insurance or escrow
        company.

      

      6. Originals
        of all recorded intervening Assignments, or copies thereof, certified by
        the
        public recording office in which such Assignments have been recorded showing
        a
        complete chain of title from the originator to the Company, with evidence
        of
        recording thereon, or a copy thereof certified by the public recording office
        in
        which such Assignment has been recorded or, if the original Assignment has
        not
        been returned from the applicable public recording office, a true certified
        copy, certified by the Company.

      
        
          
          

        

        
          92

          
            

          

        

        
          
          

        

      

      

      

      7. Originals,
        or copies thereof certified by the public recording office in which such
        documents have been recorded, of each assumption, extension, modification,
        written assurance or substitution agreements, if applicable, or if the original
        of such document has not been returned from the applicable public recording
        office, a true certified copy, certified by the Company. 

      

      8. If
        the
        Mortgage Note or Mortgage or any other material document or instrument relating
        to the Mortgage Loan has been signed by a person on behalf of the Mortgagor,
        the
        original or copy of power of attorney or other instrument that authorized
        and
        empowered such person to sign bearing evidence that such instrument has been
        recorded, if so required in the appropriate jurisdiction where the Mortgaged
        Property is located, or a copy thereof certified by the public recording
        office
        in which such instrument has been recorded or, if the original instrument
        has
        not been returned from the applicable public recording office, a true certified
        copy, certified by the Company.

      

      9. reserved.

      

      10. Mortgage
        Loan closing statement (Form HUD-1) and any other truth-in-lending or real
        estate settlement procedure forms required by law.

      

      11.
        Residential loan application.

      

      12. Uniform
        underwriter and transmittal summary (Fannie Mae Form 1008) or reasonable
        equivalent.

      

      13. Credit
        report on the mortgagor.

      

      14. Business
        credit report, if applicable.

      

      15. Residential
        appraisal report and attachments thereto.

      

      16. The
        original of any guarantee executed in connection with the Mortgage
        Note.

      

      17. Verification
        of employment and income except for Mortgage Loans originated under a limited
        documentation program, all in accordance with Company's underwriting
        guidelines.

      

      18. Verification
        of acceptable evidence of source and amount of down payment, in accordance
        with
        Company's underwriting guidelines.

      
        
          
          

        

        
          93

          
            

          

        

        
          
          

        

      

      

      19. Photograph
        of the Mortgaged Property (may be part of appraisal).

      

      20. Survey
        of
        the Mortgaged Property, if any.

      

      21. Sales
        contract, if applicable.

      

      22. If
        available, termite report, structural engineer’s report, water portability and
        septic certification.

      

      23. Any
        original security agreement, chattel mortgage or equivalent executed in
        connection with the Mortgage.

      

      24. Name
        affidavit, if applicable.

      

      Notwithstanding
        anything to the contrary herein, Company may provide one certificate for
        all of
        the Mortgage Loans indicating that the documents were delivered for
        recording.

      
        
          
          

        

        
          94

          
            

          

        

        
          
          

        

      

      EXHIBIT
        B

      

      CUSTODIAL
        ACCOUNT LETTER AGREEMENT

      

      ______________,
        2005

      

      To: [_______________________]
        

      (the
        "Depository")

      

      As
        "Company" under the Purchase, Warranties and Servicing Agreement, dated as
        of
        [_____________________] 1, 200[_] (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
        "[______________________________________], in trust for the [Purchaser],
        Owner
        of Adjustable Rate Mortgage Loans". All deposits in the account shall be
        subject
        to withdrawal therefrom by order signed by the Company. 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.

       

      
         

        
          	 	 	 
	 	[__________________________]
	 
 	 
 	 
 
	 	By:  	  
                  
	 	Name: 	  
	 	Title:	 
	 	
                
	 	 

        

         

      

      
        
          
          

        

        
          95

          
            

          

        

        
          
          

        

      

      EXHIBIT
        C

      

      ESCROW
        ACCOUNT LETTER AGREEMENT

      _____________,
        2005

      

      To: [_______________________]

      (the
        "Depository")

      

      As
        “Company” under the Purchase Warranties and Servicing Agreement, dated as of
        [____________________]1, 200[_] (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 "[__________________________],
        in
        trust for the [Purchaser], Owner of Adjustable Rate Mortgage Loans, and various
        Mortgagors." All deposits in the account shall be subject to withdrawal
        therefrom by order signed by the Company. 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.

      
         

        
          	 	 	 
	 	[__________________________]
	 
 	 
 	 
 
	 	By:  	  
                  
	 	Name: 	  
	 	Title:	 
	 	
                
	 	 

        

         

      

      
        
          
          

        

        
          96

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        D

      

      FORM
        OF
        ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

      

      This
        is a
        Purchase, Assignment, Assumption and Recognition Agreement (this “PAAR
        Agreement”) made as of __________, 200__, among EMC Mortgage Corporation (the
“Assignor”), ___________________ (the “Assignee”), and _______________________
        (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 the Purchase, Warranties
        and
        Servicing Agreement, dated as of _________, 200__, between Assignor and Company
        (the “Purchase Agreement”) shall be subject to the terms of this PAAR Agreement.
        Capitalized terms used herein but not defined shall have the meanings ascribed
        to them in the Purchase Agreement.

      

      Purchase,
        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 Purchase
        Agreement.

      

      2. Simultaneously
        with the execution hereof, (i) Assignee shall pay to Assignor the “Funding
        Amount” as set forth in that certain letter agreement, dated as of _________
        ____, between Assignee and Assignor (the “Confirmation”) and (ii) Assignor, at
        its expense, shall have caused to be delivered to Assignee or its designee
        the
        Mortgage File for each Assigned Loan in Assignor's or its custodian's
        possession, as set forth in the Purchase Agreement, along with, for each
        Assigned Loan, an endorsement of the Mortgage Note from the Company, in blank,
        and an assignment of mortgage in recordable form from the Company, in blank.
        Assignee shall pay the Funding Amount by wire transfer of immediately available
        funds to the account specified by Assignor. Assignee shall be entitled to
        all
        scheduled payments due on the Assigned Loans after ___________, 200__ and
        all
        unscheduled payments or other proceeds or other recoveries on the Assigned
        Loans
        received on and after _____________, 200__.

      

      Representations,
        Warranties and Covenants

      

      3. 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 Purchase 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;

      
        
          
          

        

        
          97

          
            

          

        

        
          
          

        

      

      

      

      (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 Purchase 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 Purchase 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 Purchase 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 PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and

      
        
          
          

        

        
          98

          
            

          

        

        
          
          

        

      

      

      

      (h) 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.

       

      4. 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
        acquire, own and purchase the Assigned Loans;

      

      (b) Assignee
        has full corporate power and authority to execute, deliver and perform its
        obligations under this PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and 

      

      (d) Assignee
        agrees to be bound as “Purchaser” by all of the terms, covenants and conditions
        of the Purchase Agreement with respect to the Assigned Loans, and from and
        after
        the date hereof, Assignee assumes for the benefit of each of Assignor and
        Company all of Assignor's obligations as “Purchaser” thereunder but solely with
        respect to such Assigned Loans.

       

      
        
          
          

        

        
          99

          
            

          

        

        
          
          

        

      

      

       

      5. 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 Purchase 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
        Purchase Agreement;

      

      
        	 	
                (c)

              	
                Company
                  has full corporate power and authority to execute, deliver and
                  perform its
                  obligations under this PAAR Agreement, and to consummate the transactions
                  set forth herein. The consummation of the transactions contemplated
                  by
                  this PAAR 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 charter 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 PAAR 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 PAAR 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 Assignee in connection with the execution, delivery or
                  performance
                  by Company of this PAAR Agreement, or the consummation by it of
                  the
                  transactions contemplated hereby;
                  and

              

      

      

      
        	 	
                (e)

              	
                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
                  the Company in Sections 3.01 and 3.02 of the Purchase Agreement
                  to be
                  untrue in any material respect.

              

      

      
        
          
          

        

        
          100

          
            

          

        

        
          
          

        

      

      

      

      
        	 	
                (f)

              	
                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.

              

      

      

      Recognition
        of Assignee

      

      6. From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans and will service the Assigned Loans in accordance with the Purchase
        Agreement. It is the intention of Assignor, Company and Assignee that this
        PAAR
        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, waiver, or otherwise alter any of the terms or
        provisions of the Purchase Agreement which amendment, modification, waiver
        or
        other alteration would in any way affect the Assigned Loans without the prior
        written consent of Assignee.

      

       

      Miscellaneous

      

      7. All
        demands, notices and communications related to the Assigned Loans, the Purchase
        Agreement and this PAAR 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,

      

      ____________________

      ____________________

      ____________________

      ____________________

      ____________________

       

      With
        a
        copy to ______________________________________.

      

      
        	 	
                (b)

              	
                In
                  the case of Assignor,

              

      

      
        
          
          

        

        
          101

          
            

          

        

        
          
          

        

      

      

      ____________________

      ____________________

      ____________________

      ____________________

      ____________________ 

      

      (c) In
        the
        case of Assignee,

      

      EMC
        Mortgage Corporation 

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        Raylene Ruyle

      Telecopier
        No.: (972) 444-2810

      

      with
        a
        copy to:

      

      ___________________

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        ___________

      Telecopier
        No.: (212) 272-____

      

      8. Each
        party will pay any commissions it has incurred and the fees of its attorneys
        in
        connection with the negotiations for, documenting of and closing of the
        transactions contemplated by this PAAR Agreement. 

      

      9. This
        PAAR
        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.

      

      10. No
        term
        or provision of this PAAR 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.

      

      11. This
        PAAR
        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.

      

      12. This
        PAAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignment
        of
        the Purchase Agreement to the extent of the Assigned Loans by Assignor to
        Assignee and the termination of the Purchase Agreement.

      
        
          
          

        

        
          102

          
            

          

        

        
          
          

        

      

      

      

      13. This
        PAAR
        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.

      

      14. In
        the
        event that any provision of this PAAR Agreement conflicts with any provision
        of
        the Purchase Agreement with respect to the Assigned Loans, the terms of this
        PAAR Agreement shall control. In the event that any provision of this PAAR
        Agreement conflicts with any provision of the Confirmation with respect to
        the
        Assigned Loans, the terms of this PAAR Agreement shall control.

      

      

      [Modification
        of Purchase Agreement

      

      
        	 	
                15.

              	
                The
                  Company and Assignor hereby amend the Purchase Agreement as
                  follows:

              

      

      

      (a) The
        following definitions are added to Section 1.01 of the Purchase
        Agreement:

      

      Securities
        Administrator:   ________________________

      

      Supplemental
        PMI Insurer:   ________________________

      

      Supplemental
        PMI Policy: The
        primary guarantee insurance policy of the Supplemental PMI Insurer attached
        hereto as Exhibit J, or any successor Supplemental PMI Policy given to the
        Servicer by the Assignee.

      

      Trustee:
         ________________________

      

      (b) The
        following definition is amended and restated:

      

      Insurance
        Proceeds: Proceeds
        of any Primary Mortgage Insurance Policy, the Supplemental PMI Policy, any
        title
        policy, any hazard insurance policy or any other insurance policy covering
        a
        Mortgage Loan or other related Mortgaged Property, including any amounts
        required to be deposited in the Custodial Account pursuant to Section 4.04,
        to
        the extent such proceeds are not to be applied to the restoration of the
        related
        Mortgaged Property or released to the Mortgagor in accordance with Accepted
        Servicing Practices.

      

      (c) The
        following are added as the fourth, fifth and sixth paragraphs of Section
        4.08:

      

      “In
        connection with its activities as servicer, the Company agrees to prepare
        and
        present, on behalf of itself and the Purchaser, claims to the Supplemental
        PMI
        Insurer with respect to the Supplemental PMI Policy and, in this regard,
        to take
        such action as shall be necessary to permit recovery under any Supplemental
        PMI
        Policy respecting a defaulted Mortgage Loan. Pursuant to Section 4.04, any
        amounts collected by the Company under any Supplemental PMI Policy shall
        be
        deposited in the Custodial Account, subject to withdrawal pursuant to Section
        4.05.

      
        
          
          

        

        
          103

          
            

          

        

        
          
          

        

      

      

      

      In
        accordance with the Supplemental PMI Policy, the Company shall provide to
        the
        Supplemental PMI Insurer any required information regarding the Mortgage
        Loans.

      

      The
        Company shall provide to the [Securities Administrator] on a monthly basis
        via
        computer tape, or other mutually acceptable format, the unpaid principal
        balance, insurer certificate number, lender loan number, and premium due
        the
        Supplemental PMI Insurer for each Mortgage Loan covered by the Supplemental
        PMI
        Policy. In addition, the Company agrees to forward to the Purchaser and the
        [Securities Administrator] any statements or other reports given by the
        Supplemental PMI Insurer to the Servicer in connection with a claim under
        the
        Supplemental PMI Policy.”

      

      (d) Clause
        (vi) of Section 6.1 is amended to read as follows:

      

      “Company
        ceases to be approved by either Fannie Mae or FHLMC as a mortgage loan seller
        or
        servicer for more than thirty days, or the Company fails to meet the servicer
        eligibility requirements of the Supplemental PMI Insurer; or”]

      

      

      
        
          
          

        

        
          104

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this PAAR Agreement as
        of the
        day and year first above written.

      
         

        
          	 	 	 
	 	
                  EMC
                    MORTGAGE CORPORATION

                  Assignor

                
	 
 	 
 	 
 
	 	By:  	  
                  
	 	Name: 	  
	 	Title:	 
	 	
                
	 	 

        

        
           

          
            	 	 	 
	 	 
                    
	 	
                    Assignee

                  
	 
 	 
 	 
 
	 	By:  	  
                    
	 	Name: 	 

	 	Title:	 
	 	
                  
	 	 

          

        

         

        
          	 	 	 
	 	 
                  
	 	
                  Company

                
	 
 	 
 	 
 
	 	By:  	  
                  
	 	Name: 	  
	 	Title:	 
	 	
                
	 	 

        

      

      
      

      

      
        
          
          

        

        
          105

          
            

          

        

        
          
          

        

      

       EXHIBIT
        ___

      

      FORM
        OF
        COMPANY CERTIFICATION

      

      I,
        [identify certifying individual], certify to the [Trustee] [Seller] [Securities
        Administrator] [Mortgage Loan Seller] [Purchaser] and [Master Servicer]
        that:

      

      1. I
        have
        reviewed the servicing reports prepared by [COMPANY] (the “Company”) pursuant to
        the [Servicing Agreement] (the “Servicing Agreement”), dated as of __________
        between __________ and the Company (as modified by the AAR Agreement (as
        defined
        below) and delivered to [MASTER SERVICER] (the “Master Servicer”) pursuant to
        the Assignment, Assumption and Recognition Agreement (the “AAR Agreement”),
        dated as of __________ among [ASSIGNOR] as Assignor, Company and [ASSIGNEE],
        as
        Assignee.

      

      2. Based
        on
        my knowledge, the information in these reports, 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 last day of the period
        covered by such servicing reports.

      

      3. Based
        on
        my knowledge, the servicing information required to be provided to the Master
        Servicer under the Servicing Agreement and the AAR Agreement is included
        in
        these reports.

      

      4. I
        am
        responsible for reviewing the activities performed the Company under the
        Servicing Agreement and the AAR Agreement and based upon the review required
        under the Servicing Agreement and the AAR Agreement, and except as disclosed
        in
        the Annual Statement of Compliance, the Company has fulfilled its obligations
        under the Servicing Agreement and the AAR Agreement.

      

      5. I
        have
        disclosed to the Master Servicer's certified public accountants all significant
        deficiencies relating to the Company's compliance with the minimum servicing
        standards in accordance with a review conduced in compliance with the Uniform
        Single Attestation Program for Mortgage Bankers or similar standard as set
        forth
        in the Servicing Agreement and the AAR Agreement.

      

      Capitalized
        terms used but not defined herein have the meanings ascribed to them in the
        AAR
        Agreement.

      

      Date:______________

      

      _____________________

      [Signature]

      [Title]

      

      
        
          
          

        

        
          106

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        1

      

      ASSIGNED
        LOAN SCHEDULE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        2

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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

              

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      
        	
                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

              	
                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan.

              	 	
                Action
                  Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                  65=Repurchase,70=REO

              	
                2

              
	
                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

              

      

      

      

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      EXHIBIT
        F

      

      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

              

      

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

      
        	
                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 ($)

              

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      
        	
                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

                  

          

        

      

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

       

      

      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

              

      

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

      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

              

      

       

      

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G

      

      REQUEST
        FOR RELEASE OF DOCUMENTS AND RECEIPT

      

      RE: Mortgage
        Loan #___________________________________

      BORROWER:__________________________________________________

      PROPERTY:
        __________________________________________________

      

      

      Pursuant
        to a Purchase, Warranties and Servicing Agreement (the "Agreement") between
        the
        Company and the Purchaser, the undersigned hereby certifies that he or she
        is an
        officer of the Company requesting release of the documents for the reason
        specified below. The undersigned further certifies that:

      

      (Check
        one of the items below)

      

      _____ On
        _________________, the above captioned mortgage loan was paid in full or
        that
        the Company has been notified that payment in full has been or will be escrowed.
        The Company hereby certifies that all amounts with respect to this loan which
        are required under the Agreement have been or will be deposited in the Custodial
        Account as required.

      

      _____ The
        above
        captioned loan is being repurchased pursuant to the terms of the Agreement.
        The
        Company hereby certifies that the repurchase price has been credited to the
        Custodial Account as required under the Agreement.

      

      _____ The
        above
        captioned loan is being placed in foreclosure and the original documents
        are
        required to proceed with the foreclosure action. The Company hereby certifies
        that the documents will be returned to the Purchaser in the event of
        reinstatement.

      

      _____ Other
        (explain)

      

      _______________________________________________________

      _______________________________________________________

      

      All
        capitalized terms used herein and not defined shall have the meanings assigned
        to them in the Agreement.

      

      Based
        on
        this certification and the indemnities provided for in the Agreement, please
        release to the Company all original mortgage documents in your possession
        relating to this loan.

      

      Dated:_________________

      

      By:________________________________

      Signature

      _______________________________

      Title

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

      

      Send
        documents to: _____________________________________________

      _____________________________________________

      _____________________________________________

      

      Acknowledgement:

      

      Purchaser
        hereby acknowledges that all original documents previously released on the
        above
        captioned mortgage loan have been returned and received by the
        Purchaser.

      

      

      Dated:________________

      

      By:________________________________

      Signature

      _______________________________

      Title

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

      

      EXHIBIT
        H

      

      COMPANY’S
        UNDERWRITING GUIDELINES

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I

       

      TERM
        SHEET

      

      This
        TERM
        SHEET (the "Term Sheet") dated _____________, between ______________________,
        a
        ________ corporation, located at ____________________________(the “Company”) and
        EMC Mortgage Corporation, a Delaware corporation, located at ______________
        (the
        "Purchaser") is made pursuant to the terms and conditions of that certain
        Purchase, Warranties and Servicing Agreement (the "Agreement") dated as of
        _______________, between the Company and the Purchaser, the provisions of
        which
        are incorporated herein as if set forth in full herein, as such terms and
        conditions may be modified or supplemented hereby. All initially capitalized
        terms used herein unless otherwise defined shall have the meanings ascribed
        thereto in the Agreement. 

      

      The
        Purchaser hereby purchases from the Company and the Company hereby sells
        to the
        Purchaser, all of the Company’s right, title and interest in and to the Mortgage
        Loans on a servicing retained basis described on the Mortgage Loan Schedule
        annexed hereto as Schedule
        I,
        pursuant to and in accordance with the terms and conditions set forth in
        the
        Agreement, as same may be supplemented or modified hereby. Hereinafter, the
        Company shall service the Mortgage Loans for the benefit of the Purchaser
        and
        all subsequent transferees of the Mortgage Loans pursuant to and in accordance
        with the terms and conditions set forth in the Agreement. 

      

      1. Definitions

      

      For
        purposes of the Mortgage Loans to be sold pursuant to this Term Sheet, the
        following terms shall have the following meanings:

      

      Aggregate
        Principal Balance

      (as
        of
        the Cut-Off Date):

      

      Closing
        Date:

      

      Custodian:

      

      Cut-off
        Date:

      

      Initial
        Weighted Average

      Mortgage
        Loan Remittance Rate:

      

      Mortgage
        Loan:

      

      Purchase
        Price Percentage:

      

      Servicing
        Fee Rate:

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

       

      Additional
        Closing Conditions: 

      

      In
        addition to the conditions specified in the Agreement, the obligation of
        each of
        the Company and the Purchaser is subject to the fulfillment, on or prior
        to the
        applicable Closing Date, of the following additional conditions: [None].
        

      

      Additional
        Loan Documents:

      

      In
        addition to the contents of the Mortgage File specified in the Agreement,
        the
        following documents shall be delivered with respect to the Mortgage Loans:
        [None]

      

      [Additional]
        [Modification] of Representations and Warranties:

       

      [In
        addition to the representations and warranties set forth in the Agreement,
        as of
        the date hereof, the Company makes the following additional representations
        and
        warranties with respect to the Mortgage Loans: [None]. [Notwithstanding anything
        to the contrary set forth in the Agreement, with respect to each Mortgage
        Loan
        to be sold on the Closing Date, the representation and warranty set forth
        in
        Section ______ of the Agreement shall be modified to read as
        follows:]

      

      Except
        as
        modified herein, Section ______ of the Agreement shall remain in full force
        and
        effect as of the date hereof.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      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.

       

      
        
           

          
            	 	 	 
	 	__________________________
	 
 	 
 	 
 
	 	By:  	  
                    
	 	Name: 	 

	 	Title:	 
	 	
                  
	 	 

          

           

        

        
           

          
            	 	 	 
	 	EMC
                    MORTGAGE
                    CORPORATION
	 
 	 
 	 
 
	 	By:  	  
                    
	 	Name: 	 

	 	Title:	 
	 	
                  
	 	 

          

           

        

      

      
 

      

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      SCHEDULE
        I

      

      MORTGAGE
        LOAN SCHEDULE

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        J

      

      RECONSTITUTED
        MORTGAGE LOAN REPORTING

      

      

      (a) Servicer
        Mortgage Loan Number  

      (b) FNMA
        Mortgage Loan Number (if applicable)

      (c) Lender/Seller
        Mortgage Loan Number (plus any other loan number)

      (d) Month
        end
        date/ date file created 

      (e) Scheduled
        Beginning Balance 

      (f) Actual
        Beginning Balance 

      (g) Scheduled
        Ending Balance 

      (h) Actual
        Ending Balance 

      (i) Gross
        Rate (current gross rate)

      (j) Net
        Rate
        (current passthrough)

      (k) Last
        Payment Date (LPI_DATE in Fannie's Laser Reporting)

      (l) Next
        Due
        Date

      (m) Delinquency
        Month (if available)

      (n) Default
        Flag, i.e. FC, REO, etc. (if applicable)

      (o) Pay-In-Full
        Date (Mortgage Loan paid off by Mortgagor)

      (p) Foreclosure
        start date  

      (q) Foreclosure
        end date  

      (r) REO
        Property date  

      (s) With
        respect to Liquidated Mortgage Loans:  

      (i)
        claim
        date

      (ii)
        claim amount

      (iii)
        proceeds

      (iv)
        amount of loss or gain (as applicable)  

      (v)
        the
        date of the loss or gain.  

      (vi)
        the
        liquidation reason (paid in full or repurchased out of deal) 

      (t) Fannie's
        Laser Reporting (For FNMA loans)

      (i)
        Action Code (for default or paid off Mortgage Loans; i.e. 60, 65,
        etc.)

      (ii)
        Action Date  

      (iii)
        Remit Prin (submitted principal amount)

      (iv)
        Remit Int (submitted interest amount)

      (v)
        Pool/Invest indicator (indicating Schedule/Schedule or Actual/Actual
        pool)

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        K

      

      COMPANY’S
        OBLIGATIONS IN CONNECTION 

      WITH
        A
        RECONSTITUTION

      

      • The
        Company shall (i) possess the ability to service to a securitization documents;
        (ii) service on a “Scheduled/Scheduled” reporting basis (advancing through the
        liquidation of an REO Property), (iii) make compensating interest payments
        on
        payoffs and curtailments and (iv) remit and report to a Master Servicer in
        format acceptable to such Master Servicer by the 10th calendar day of each
        month.

      

      • The
        Company shall provide an acceptable annual certification (officer’s certificate)
        to the Master Servicer (as required by the Sarbanes-Oxley Act of 2002) as well
        as any other annual certifications required under the securitization documents
        (i.e. the annual statement as to compliance/annual independent certified
        public
        accountants’ servicing report due by March 1 of each year).

      

      • The
        Company shall allow for the Purchaser, the Master Servicer or their designee
        to
        perform a review of audited financials and net worth of the
        Company.

      

      • The
        Company shall provide a Uniform Single Attestation Program certificate and
        Management Assertion as requested by the Master Servicer or the
        Purchaser.

      

      • The
        Company shall provide information on each Custodial Account as requested
        by the
        Master Servicer or the Purchaser, and each Custodial Accounts shall comply
        with
        the requirements for such accounts as set forth in the securitization
        documents.

      

      • The
        Company shall maintain its servicing system in accordance with the requirements
        of the Master Servicer.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        L

      

      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
        M

      

      SUMMARY
        OF REGULATION AB

      SERVICING
        CRITERIA

      

      NOTE:
        This Exhibit M is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit M and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

      

      Item
        1122(d)

       

      
        	 	
                (a)

              	
                General
                  servicing considerations.

              

      

       

      (1) Policies
        and procedures are instituted to monitor any performance or other triggers
        and
        events of default in accordance with the transaction agreements.

       

      (2) 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.

       

      (3) Any
        requirements in the transaction agreements to maintain a back-up servicer
        for
        the mortgage loans are maintained.

       

      (4) 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.

       

      
        	 	
                (b)

              	
                Cash
                  collection and administration.

              

      

       

      (1) 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.

       

      (2) Disbursements
        made via wire transfer on behalf of an obligor or
        to an
        investor are made only by authorized personnel.

       

      (3) 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.

       

      (4) 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.

       

      (5) 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.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

       

      (6) Unissued
        checks are safeguarded so as to prevent unauthorized access.

       

      (7) 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.

       

      
        	 	
                (c)

              	
                Investor
                  remittances and reporting.

              

      

       

      (1) 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.

       

      (2) Amounts
        due to investors are allocated and remitted in accordance with timeframes,
        distribution priority and other terms set forth in the transaction
        agreements.

       

      (3) 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.

       

      (4) Amounts
        remitted to investors per the investor reports agree with cancelled checks,
        or
        other form of payment, or custodial bank statements.

       

      
        	 	
                (d)

              	
                Mortgage
                  Loan administration.

              

      

       

      (1) Collateral
        or security on mortgage loans is maintained as required by the transaction
        agreements or related mortgage loan documents.

       

      (2) Mortgage
        loan and related documents are safeguarded as required by the transaction
        agreements.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

       

      (3) 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.

       

      (4) 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.

       

      (5) The
        Servicer’s records regarding the mortgage loans agree with the Servicer’s
        records with respect to an obligor’s unpaid principal balance.

       

      (6) 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 mortgage
        loan documents.

       

      (7) 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.

       

      (8) 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).

       

      (9) Adjustments
        to interest rates or rates of return for mortgage loans with variable rates
        are
        computed based on the related mortgage loan documents.

       

      (10) 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.

       

      (11) 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.

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

       

      (12) 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.

       

      (13) 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.

       

      (14) Delinquencies,
        charge-offs and uncollectable accounts are recognized and recorded in accordance
        with the transaction agreements.

       

      (15) 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
          N

        

        SUMMARY
          OF APPLICABLE REGULATION AB REQUIREMENTS

        

        NOTE:
          This Exhibit N is provided for convenience of reference only. In the event
          of a
          conflict or inconsistency between the terms of this Exhibit N and the text
          of
          Regulation AB, the text of Regulation AB, its adopting release and other
          public
          statements of the SEC shall control. 

         

        Item
          1105(a)(1)-(3) and (c)

        

        -Provide
          static pool information with respect to mortgage loans that were originated
          or
          purchased by the Company and which are of the same type as the Mortgage
          Loans.

         

        -Provide
          static pool information regarding delinquencies, cumulative losses and
          prepayments for prior securitized pools of the Company.

         

        -If
          the
          Company has less than 3 years experience securitizing assets of the same
          type as
          the Mortgage Loans, provide the static pool information by vintage origination
          years regarding loans originated or purchased by the Company, instead of
          by
          prior securitized pool. A vintage origination year represents mortgage
          loans
          originated during the same year.

         

        -Such
          static pool information shall be for the prior five years, or for so long
          as the
          Company has been originating or purchasing (in the case of data by vintage
          origination year) or securitizing (in the case of data by prior securitized
          pools) such mortgage loans if for less than five years.

         

        -The
          static pool information for each vintage origination year or prior securitized
          pool, as applicable, shall be presented in monthly increments over the
          life of
          the mortgage loans included in the vintage origination year or prior securitized
          pool.

         

        -Provide
          summary information for the original characteristics of the prior securitized
          pools or vintage origination years, as applicable and material, including:
          number of pool assets, original pool balance, weighted average initial
          loan
          balance, weighted average mortgage rate, weighted average and minimum and
          maximum FICO, product type, loan purpose, weighted average and minimum
          and
          maximum LTV, distribution of loans by mortgage rate, and geographic
          concentrations of 5% or more.

         

        

        Item
          1108(b) and (c)

        

        Provide
          the following information with respect to each servicer that will service,
          including interim service, 20% or more of the mortgage loans in any loan
          group
          in the securitization issued in the Securitization Transaction: 

         

        -a
          description of the Company’s form of organization;

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        -a
          description of how long the Company has been servicing residential mortgage
          loans; a general discussion of the Company’s experience in servicing assets of
          any type as well as a more detailed discussion of the Company’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 Company’s portfolio of mortgage loans of the type similar to
          the Mortgage Loans and information on factors related to the Company that
          may be
          material to any analysis of the servicing of the Mortgage Loans or the
          related
          asset-backed securities, as applicable, including whether any default or
          servicing related performance trigger has occurred as to any other
          securitization due to any act or failure to act of the Company, whether
          any
          material noncompliance with applicable servicing criteria as to any other
          securitization has been disclosed or reported by the Company, and the extent
          of
          outsourcing the Company uses;

         

        -a
          description of any material changes to the Company’s policies or procedures in
          the servicing function it will perform under this Agreement and any
          Reconstitution Agreements for mortgage loans of the type similar to the
          Mortgage
          Loans during the past three years;

         

        -information
          regarding the Company’s financial condition to the extent that there is a
          material risk that the effect on one or more aspects of servicing resulting
          from
          such financial condition could have a material impact on the performance
          of the
          securities issued in the Securitization Transaction, or on servicing of
          mortgage
          loans of the same asset type as the Mortgage Loans;

         

        -any
          special or unique factors involved in servicing loans of the same type
          as the
          Mortgage Loans, and the Company’s processes and procedures designed to address
          such factors;

         

        -statistical
          information regarding principal and interest advances made by the Company
          on the
          Mortgage Loans and the Company’s overall servicing portfolio for the past three
          years; and

         

        -the
          Company’s process for handling delinquencies, losses, bankruptcies and
          recoveries, such as through liquidation of REO Properties, foreclosure,
          sale of
          the Mortgage Loans or workouts.

         

        Item
          1110(a)

        

        -Identify
          any originator or group of affiliated originators that originated, or is
          expected to originate, 10% or more of the mortgage loans in any loan group
          in
          the securitization issued in the Securitization Transaction.

         

        

        Item
          1110(b)

        

        Provide
          the following information with respect to any originator or group of affiliated
          originators that originated, or is expected to originate, 20% or more of
          the
          mortgage loans in any loan group in the securitization issued in the
          Securitization Transaction:

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        -the
          Company’s form of organization; and

         

        -a
          description of the Company’s origination program and how long the Company has
          been engaged in originating residential mortgage loans, which description
          must
          include a discussion of the Company’s experience in originating mortgage loans
          of the same type as the Mortgage Loans and information regarding the size
          and
          composition of the Company’s origination portfolio as well as information that
          may be material to an analysis of the performance of the Mortgage Loans,
          such as
          the Company’s credit-granting or underwriting criteria for mortgage loans of the
          same type as the Mortgage Loans.

        

        Item
          1117

        

        -describe
          any legal proceedings pending against the Company or against any of its
          property, including any proceedings known to be contemplated by governmental
          authorities, that may be material to the holders of the securities issued
          in the
          Securitization Transaction.

         

        

        Item
          1119(a)

        

        -describe
          any affiliations of the Company, each other originator of the Mortgage
          Loans and
          each Subservicer with the sponsor, depositor, issuing entity, trustee,
          any
          originator, any other servicer, any significant obligor, enhancement or
          support
          provider or any other material parties related to the Securitization
          Transaction.

         

        

        Item
          1119(b)

        

        -describe
          any business relationship, agreement, arrangement, transaction or understanding
          entered into outside of the ordinary course of business or on terms other
          than
          those obtained in an arm’s length transaction with an unrelated third party,
          apart from the Securitization Transaction, between the Company, each other
          originator of the Mortgage Loans and each Subservicer, or their respective
          affiliates, and the sponsor, depositor or issuing entity or their respective
          affiliates, that exists currently or has existed during the past two years,
          that
          may be material to the understanding of an investor in the securities issued
          in
          the Securitization Transaction.

         

        Item
          1119(c)

        

        -describe
          any business relationship, agreement, arrangement, transaction or understanding
          involving or relating to the Mortgage Loans or the Securitization Transaction,
          including the material terms and approximate dollar amount involved, between
          the
          Company, each other originator of the Mortgage Loans and each Subservicer,
          or
          their respective affiliates and the sponsor, depositor or issuing entity
          or
          their respective affiliates, that exists currently or has existed during
          the
          past two years.

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        EXHIBIT
          O

        

        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

                

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
                    Servicing Criteria

                
	
                  Reference

                	
                  Criteria

                	 
	 	 	 
	
                   

                	
                  Investor
                    Remittances and Reporting

                	 
	
                  1122(d)(3)(i)

                	
                  Reports
                    to investors, including those to be filed with the Commission,
                    are
                    maintained in accordance with the transaction agreements and
                    applicable
                    Commission requirements. Specifically, such reports (A) are prepared
                    in
                    accordance with timeframes and other terms set forth in the transaction
                    agreements; (B) provide information calculated in accordance
                    with the
                    terms specified in the transaction agreements; (C) are filed
                    with the
                    Commission as required by its rules and regulations; and (D)
                    agree with
                    investors’ or the trustee’s records as to the total unpaid principal
                    balance and number of mortgage loans serviced by the
                    Servicer.

                	
                  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

                

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        

        
          	
                  Servicing
                    Criteria 

                	
                  Applicable
                    Servicing Criteria

                
	
                  Reference

                	
                  Criteria

                	 
	
                  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:
          

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        EXHIBIT
          P

        

        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

                
	 	 	
                  ________________

                	
                  (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

                
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

        

      

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        H-5

       

      US
        BANK
        SERVICING AGREEMENT

      

      

      

      

      

      

      

      

      

      

      

      

      EMC
        MORTGAGE CORPORATION 

      Purchaser,
        

      

      US
        BANK, NA

      Company,

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      Dated
        as
        of March 1, 2003

      

      

      

      

      

      (Adjustable
        Rate Mortgage Loans)

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

      TABLE
        OF CONTENTS

      

       

      

        
          	
                  ARTICLE
                    I

                
	 	 	 
	 	 	 
	
                  Section
                    1.01

                	
                  Defined
                    Terms

                	
                  2

                
	 	 	 
	
                  ARTICLE
                    II

                
	 	 	 
	
                  Section
                    2.01

                	
                  Agreement
                    to Purchase

                	
                  15

                
	
                  Section
                    2.02

                	
                  Purchase
                    Price

                	
                  15

                
	
                  Section
                    2.03

                	
                  Servicing
                    of Mortgage Loans

                	
                  16

                
	
                  Section
                    2.04

                	
                  Record
                    Title and Possession of Mortgage Files;

                	 
	 	
                  Maintenance
                    of Servicing Files

                	
                  16

                
	
                  Section
                    2.05

                	
                  Books
                    and Records

                	
                  17

                
	
                  Section
                    2.06

                	
                  Transfer
                    of Mortgage Loans

                	
                  18

                
	
                  Section
                    2.07

                	
                  Delivery
                    of Mortgage Loan Documents

                	
                  19

                
	
                  Section
                    2.08

                	
                  Quality
                    Control Procedures

                	
                  20

                
	
                  Section
                    2.09 

                	
                  Modification
                    of Obligations

                	
                  21

                
	 	 	 
	
                  ARTICLE
                    III

                
	 	 	 
	
                  Section
                    3.01

                	
                  Representations
                    and Warranties of the Company

                	
                  21

                
	
                  Section
                    3.02

                	
                  Representations
                    and Warranties as to

                	 
	 	
                  Individual
                    Mortgage Loans

                	
                  24

                
	
                  Section
                    3.03

                	
                  Repurchase;
                    Substitution

                	
                  35

                
	
                  Section
                    3.04

                	
                  Representations
                    and Warranties of the Purchaser

                	
                  37

                
	 	 	 
	
                  ARTICLE
                    IV

                
	 	 	 
	
                  Section
                    4.01

                	
                  Company
                    to Act as Servicer

                	
                  39

                
	
                  Section
                    4.02

                	
                  Collection
                    of Mortgage Loan Payments

                	
                  42

                
	
                  Section
                    4.03

                	
                  Realization
                    Upon Defaulted Mortgage Loans

                	
                  43

                
	
                  Section
                    4.04

                	
                  Establishment
                    of Custodial Accounts;

                	 
	 	
                  Deposits
                    in Custodial Accounts

                	
                  45

                
	
                  Section
                    4.05

                	
                  Permitted
                    Withdrawals from the 

                	 
	 	
                  Custodial
                    Account

                	
                  46

                
	
                  Section
                    4.06

                	
                  Establishment
                    of Escrow Accounts;

                	 
	 	
                  Deposits
                    in Escrow Accounts

                	
                  48

                
	
                  Section
                    4.07

                	
                  Permitted
                    Withdrawals From Escrow Account

                	
                  48

                
	
                  Section
                    4.08

                	
                  Payment
                    of Taxes, Insurance and Other

                	 
	 	
                  Charges;
                    Maintenance of Primary Mortgage

                	 
	 	
                  Insurance
                    Policies; Collections Thereunder

                	
                  49
                    

                
	
                  Section
                    4.09

                	
                  Transfer
                    of Accounts

                	
                  50

                

        

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

        
          	 	 	 
	
                  Section
                    4.10

                	
                  Maintenance
                    of Hazard Insurance

                	
                  50

                
	
                  Section
                    4.11

                	
                  Maintenance
                    of Mortgage Impairment

                	 
	 	
                  Insurance
                    Policy

                	
                  51

                
	
                  Section
                    4.12

                	
                  Fidelity
                    Bond, Errors and Omissions

                	 
	 	
                  Insurance

                	
                  52

                
	
                  Section
                    4.13 

                	
                  Title,
                    Management and Disposition of REO Property

                	
                  53

                
	
                  Section
                    4.14

                	
                  Notification
                    of Maturity Date

                	
                  55

                
	 	 	 
	
                  ARTICLE
                    V

                
	 	 	 
	
                  Section
                    5.01

                	
                  Distributions

                	
                  55

                
	
                  Section
                    5.02

                	
                  Statements
                    to the Purchaser

                	
                  56

                
	
                  Section
                    5.03

                	
                  Monthly
                    Advances by the Company

                	
                  57

                
	
                  Section
                    5.04

                	
                  Liquidation
                    Reports

                	
                  58

                
	 	 	 
	
                  ARTICLE
                    VI

                
	 	 	 
	
                  Section
                    6.01

                	
                  Assumption
                    Agreements

                	
                  58

                
	
                  Section
                    6.02

                	
                  Satisfaction
                    of Mortgages and Release

                	 
	 	
                  of
                    Mortgage Files

                	
                  59

                
	
                  Section
                    6.03

                	
                  Servicing
                    Compensation

                	
                  60

                
	
                  Section
                    6.04

                	
                  Annual
                    Statement as to Compliance

                	
                  61

                
	
                  Section
                    6.05

                	
                  Annual
                    Independent Certified Public

                	 
	 	
                  Accountants’
                    Servicing Report

                	
                  61

                
	
                  Section
                    6.06

                	
                  Purchaser’s
                    Right to Examine Company Records

                	
                  61

                
	
                  Section
                    6.07 

                	
                  Indemnification
                    regarding Section 6.04 and Section 6.05

                	 
	 	 	 
	
                  ARTICLE
                    VII

                
	 	 	 
	
                  Section
                    7.01

                	
                  Company
                    Shall Provide Information as Reasonably

                	 
	 	
                  Required

                	
                  62

                
	 	 	 
	
                  ARTICLE
                    VIII

                
	 	 	 
	
                  Section
                    8.01

                	
                  Indemnification;
                    Third Party Claims

                	
                  64

                
	
                  Section
                    8.02

                	
                  Merger
                    or Consolidation of the Company

                	
                  64

                
	
                  Section
                    8.03

                	
                  Limitation
                    on Liability of the Company and Others

                	
                  65

                
	
                  Section
                    8.04

                	
                  Company
                    Not to Assign or Resign

                	
                  65

                
	
                  Section
                    8.05

                	
                  No
                    Transfer of Servicing

                	
                  66

                

        

         

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        
          	 	 	 
	
                  ARTICLE
                    IX

                
	 	 	 
	
                  Section
                    9.01

                	
                  Events
                    of Default

                	
                  67

                
	
                  Section
                    9.02

                	
                  Waiver
                    of Defaults

                	
                  68

                
	 	 	 
	
                  ARTICLE
                    X

                
	 	 	 
	
                  Section
                    10.01

                	
                  Termination

                	
                  69

                
	
                  Section
                    10.02

                	
                  Termination
                    without cause

                	
                  69

                
	 	 	 
	
                  ARTICLE
                    XI

                
	 	 	 
	
                  Section
                    11.01

                	
                  Successor
                    to the Company

                	
                  69

                
	
                  Section
                    11.02

                	
                  Amendment

                	
                  70

                
	
                  Section
                    11.03

                	
                  Recordation
                    of Agreement

                	
                  71

                
	
                  Section
                    11.04

                	
                  Governing
                    Law

                	
                  71

                
	
                  Section
                    11.05

                	
                  Notices

                	
                  71

                
	
                  Section
                    11.06

                	
                  Severability
                    of Provisions

                	
                  72

                
	
                  Section
                    11.07

                	
                  Exhibits

                	
                  72

                
	
                  Section
                    11.08

                	
                  General
                    Interpretive Principles

                	
                  72

                
	
                  Section
                    11.09

                	
                  Reproduction
                    of Documents

                	
                  73

                
	
                  Section
                    11.10

                	
                  Confidentiality
                    of Information

                	
                  73

                
	
                  Section
                    11.11

                	
                  Recordation
                    of Assignment of Mortgage

                	
                  74

                
	
                  Section
                    11.12

                	
                  Assignment
                    by Purchaser

                	
                  74

                
	
                  Section
                    11.13

                	
                  No
                    Partnership

                	
                  74

                
	
                  Section
                    11.14

                	
                  Execution:
                    Successors and Assigns

                	
                  74

                
	
                  Section
                    11.15

                	
                  Entire
                    Agreement

                	
                  74

                
	
                  Section
                    11.16

                	
                  No
                    Solicitation

                	
                  75

                
	
                  Section
                    11.17

                	
                  Closing

                	
                  75

                
	
                  Section
                    11.18

                	
                  Cooperation
                    of Company with Reconstitution

                	
                  76

                
	
                  Section
                    11.19

                	
                  Third
                    Party Beneficiary

                	
                  76

                

        

      

      EXHIBITS

      
        	
                A-1
                  

              	
                Contents
                  of Mortgage File

              
	
                A-2

              	
                Contents
                  of Servicing File

              
	
                B

              	
                Custodial
                  Account Letter Agreement

              
	
                C

              	
                Escrow
                  Account Letter Agreement

              
	
                D
                  

              	
                Form
                  of Assignment, Assumption and Recognition Agreement

              
	
                E
                  

              	
                Form
                  of Trial Balance

              
	
                F

              	
                [reserved]

              
	
                G
                  

              	
                Request
                  for Release of Documents and Receipt

              
	
                H
                  

              	
                Company’s
                  Underwriting Guidelines

              
	
                I
                  

              	
                Mortgage
                  Loan Schedule

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      

      This
        is a
        Purchase, Warranties and Servicing Agreement, dated as of March 1, 2003 and
        is
        executed between EMC MORTGAGE CORPORATION, as Purchaser (the "Purchaser"),
        and
        US BANK, NA (the "Company").

      

      WITNESSETH
        :

      

      WHEREAS,
        the Purchaser has heretofore agreed to purchase from the Company and the
        Company
        has heretofore agreed to sell to the Purchaser, certain Mortgage Loans on
        a
        servicing retained basis, pursuant to the terms of a letter agreement dated
        as
        of March 11, 2003, by and between the Company and the Purchaser (the
        "Confirmation").

      

      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 Mortgage Loan Schedule; and

      

      WHEREAS,
        the Purchaser and the Company wish to prescribe the representations and
        warranties of the Company with respect to itself and the Mortgage Loans and
        the
        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 Purchaser and the Company agree as
        follows:

      

      

       

      

      

      
        
          
          

        

        
          1

          
            

          

        

        
          
          

        

      

      

      

      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) of prudent mortgage banking institutions which service
        mortgage loans of the same type as such Mortgage Loan in the jurisdiction
        where
        the related Mortgaged Property is located, and which are in accordance with
        Fannie Mae servicing practices and procedures, for MBS pool mortgages, as
        defined in the Fannie Mae Guides including future updates. 

      

      Adjustment
        Date:
        As to
        each Mortgage Loan, the date on which the Mortgage Interest Rate is adjusted
        in
        accordance with the terms of the related Mortgage Note.

      

      Agreement:
        This
        Purchase, Warranties and Servicing Agreement including all exhibits hereto,
        amendments hereof and supplements hereto.

      

      Appraised
        Value:
        With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the originator of the Mortgage Loan at the time of
        origination of the Mortgage Loan by an appraiser who met the requirements
        of the
        Company and Fannie Mae. 

      

      Assignment:
        An
        individual 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 of record the
        sale
        or transfer of the Mortgage Loan.

       

      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 State
        of
        New York or the State of Minnesota, or (iii) a day on which banks in the
        State
        of New York or the State of Minnesota are authorized or obligated by law
        or
        executive order to be closed.

      

      Closing
        Date:
        March
        26, 2003. 

      

      Code:  The
        Internal Revenue Code of 1986, or any successor statute thereto.

      

      Company:
        US
        Bank, NA, their successors in interest and assigns, as permitted by this
        Agreement.

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

      

      Company's
        Officer's Certificate:
        A
        certificate signed by the Chairman of the Board, President, any Vice President
        or Treasurer of Company stating the date by which Company expects to receive
        any
        missing documents sent for recording from the applicable recording
        office.

      

      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.

      

      Confirmation:
        As
        defined in the Recitals to this Agreement.

      

      Co-op
        Lease:
        With
        respect to a Co-op Loan, the lease with respect to a dwelling unit occupied
        by
        the Mortgagor and relating to the stock allocated to the related dwelling
        unit.

      

      Co-op
        Loan:
        A
        Mortgage Loan secured by the pledge of stock allocated to a dwelling unit
        in a
        residential cooperative housing corporation and a collateral assignment of
        the
        related Co-op Lease.

      

      Current
        Appraised Value: With
        respect to any Mortgaged Property, the value thereof as determined by an
        appraisal made for the Company (by an appraiser who met the requirements
        of the
        Company and Fannie Mae) at the request of a Mortgagor for the purpose of
        canceling a Primary Mortgage Insurance Policy in accordance with federal,
        state
        and local laws and regulations or otherwise made at the request of the Company
        or Mortgagor.

      

      Current
        LTV: The
        ratio
        of the Stated Principal Balance of a Mortgage Loan to the Current Appraised
        Value of the Mortgaged Property.

      

      Custodial
        Account:
        Each
        separate demand account or accounts created and maintained pursuant to Section
        4.04 which shall be entitled "US Bank, NA, in trust for the [Purchaser],
        Owner
        of Adjustable Rate Mortgage Loans" and shall be established in an Eligible
        Account, in the name of the Person that is the "Purchaser" with respect to
        the
        related Mortgage Loans.

       

      Custodian:
        Wells
        Fargo Bank Minnesota, N.A.

      

      Cut-off
        Date:
        March
        1, 2003. 

      

      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 related Remittance
        Date.

      

      Due
        Date:
        The day
        of the month on which the Monthly Payment is due on a Mortgage Loan, exclusive
        of any days of grace, which is the first day of the month.

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      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.

      

      Eligible
        Account:
        An
        account established and maintained: (i) within FDIC insured accounts created,
        maintained and monitored by the Company so that all funds deposited therein
        are
        fully insured, or (ii) as
        a trust
        account with the corporate trust department of a depository institution or
        trust
        company organized under the laws of the United States of America or any one
        of
        the states thereof or the District of Columbia which is not affiliated with
        the
        Company (or any sub-servicer) or (iii) with an entity which is an institution
        whose
        deposits are insured by the FDIC, the unsecured and uncollateralized long-term
        debt obligations of which shall be rated “A2” or higher by Standard & Poor’s
        and “A” or higher by Fitch, Inc. or
        one of
        the two highest short-term ratings by any applicable Rating Agency, and which
        is
        either (a) a federal savings association duly organized, validly existing
        and in
        good standing under the federal banking laws, (b) an institution duly organized,
        validly existing and in good standing under the applicable banking laws of
        any
        state, (c) a national banking association under the federal banking laws,
        or (d)
        a principal subsidiary of a bank holding company,
        or (iv)
        if ownership of the Mortgage Loans is evidenced by mortgaged-backed securities,
        the equivalent required ratings of each Rating Agency, and held such that
        the
        rights of the Purchaser and the owner of the Mortgage Loans shall be fully
        protected against the claims of any creditors of the Company (or any
        sub-servicer) and of any creditors or depositors of the institution in which
        such account is maintained or (v) in a separate non-trust account without
        FDIC
        or other insurance in an Eligible Institution. In the event that a Custodial
        Account is established pursuant to clause (iii), (iv) or (v) of the preceding
        sentence, the Company shall provide the Purchaser with written notice on
        the
        Business Day following the date on which the applicable institution fails
        to
        meet the applicable ratings requirements.

      

      Eligible
        Institution:
        US
        Bank, NA, or an institution having (i) the highest short-term debt rating,
        and
        one of the two highest long-term debt ratings of each Rating Agency; or (ii)
        with respect to any Custodial Account, an unsecured long-term debt rating
        of at
        least one of the two highest unsecured long-term debt ratings of each Rating
        Agency.

      

      Equity
        Take-Out Refinanced Mortgage Loan:
        A
        Refinanced Mortgage Loan the proceeds of which were in excess of the outstanding
        principal balance of the existing mortgage loan as defined in the Fannie
        Mae
        Guide(s). 

      

      Escrow
        Account:
        Each
        separate trust account or accounts created and maintained pursuant to Section
        4.06 which shall be entitled "US Bank, NA, in trust for the [Purchaser],
        Owner
        of Adjustable Rate Mortgage Loans, and various Mortgagors" and shall be
        established in an Eligible Account, in the name of the Person that is the
        "Purchaser" with respect to the related Mortgage Loans.

      

      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.

      

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      Event
        of Default:
        Any one
        of the conditions or circumstances enumerated in Section
        9.01.

      

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

      

      Fannie
        Mae Guide(s):
        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.

      

      FHLMC:
        The
        Federal Home Loan Mortgage Corporation, or any successor thereto.

      

      FHLMC
        Guide:
        The
        FHLMC Single Family Seller/Servicer Guide and all amendments or additions
        thereto.

      

      Fidelity
        Bond:
        A
        fidelity bond to be maintained by the Company pursuant to Section
        4.12.

      

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

      

      GAAP:
        Generally accepted accounting principles,

      consistently
        applied.

      

      HUD:
        The
        United States Department of Housing and Urban Development or any
        successor.

      

      Index:
        The
        weekly average yield on United States Treasury securities adjusted to a constant
        maturity of one (1) year, as made available by the Federal Reserve
        Board.

      

      Initial
        Rate Cap: As
        to
        each Mortgage Loan, where applicable, the maximum increase or decrease in
        the
        Mortgage Interest Rate on the first Adjustment Date.

      

      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 Mortgage Loan, the maximum Mortgage Interest Rate over the term of such
        Mortgage Loan. 

      

      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.

      

      Loan-to-Value
        Ratio or LTV:
        With
        respect to any Mortgage Loan, the ratio of the original outstanding principal
        amount of the Mortgage Loan, to (i) the Appraised Value of the Mortgaged
        Property as of the Origination Date with respect to a Refinanced Mortgage
        Loan,
        and (ii) the lesser of the Appraised Value of the Mortgaged Property as of
        the
        Origination Date or the purchase price of the Mortgaged Property with respect
        to
        all other Mortgage Loans.

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

      

      Margin:
        With
        respect to each Mortgage 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, as set forth in the Mortgage Loan
        Schedule.

      

      Monthly
        Advance:
        The
        aggregate of the advances made by the Company on any Remittance Date pursuant
        to
        Section 5.03.

      

      Monthly
        Payment:
        The
        scheduled monthly payment of principal and interest on a Mortgage Loan which
        is
        payable by a 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
        File:
        The
        mortgage documents pertaining to a particular Mortgage Loan which are specified
        in Exhibit A-1 hereto.

      

      Mortgage
        Impairment Insurance Policy:
        A
        mortgage impairment or blanket hazard insurance policy as required by Section
        4.11.

      

      Mortgage
        Interest Rate:
        The
        annual rate at which interest accrues on any Mortgage Loan, which may be
        adjusted from time to time, in accordance with the provisions of the related
        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
        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, excluding replaced or repurchased mortgage
        loans.

      

      Mortgage
        Loan Documents:
        The
        documents listed in Exhibit
        A-1.

      

      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:
        The
        schedule of Mortgage Loans attached as Exhibit I, setting forth the following
        information with respect to each Mortgage Loan in the related Mortgage Loan
        Package:

      

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

        

        (1) the
          Company's Mortgage Loan identifying number;

        

        (2) the
          Mortgagor's first and last name;

      

       

      (3)
         the
        street address of the Mortgaged Property including the city, state and zip
        code;

      

      (4) a
        code
        indicating whether the Mortgaged Property is owner-occupied, a second home
        or an
        investor property;

      

      (5) the
        type
        of residential property constituting the Mortgaged Property;

      

      
        
          (6)
            the
            original months to maturity of the Mortgage Loan;

        

      

      

      (7) the
        remaining months to maturity from the related Cut-off Date, based on the
        original amortization schedule and, if different, the maturity expressed
        in the
        same manner but based on the actual amortization schedule;

      

      (8) the
        Sales
        Price, if applicable, Appraised Value and Loan-to-Value Ratio, at
        origination;

      

      (9) the
        Mortgage Interest Rate as of origination and as of the related Cut-off Date;
        the
        initial Adjustment Date, the next Adjustment Date immediately following the
        related Cut-off Date, the Index, the Margin, the Initial Rate Cap, if any,
        Periodic Rate Cap, if any, minimum Mortgage Interest Rate under the terms
        of the
        Mortgage Note and the Lifetime Rate Cap;

      

      (10) the
        Origination Date of the Mortgage Loan;

      

      (11) the
        stated maturity date;

      

      (12) the
        amount of the Monthly Payment at origination;

      

      (13) the
        amount of the Monthly Payment as of the related Cut-off Date;

      

      (14) the
        original principal amount of the Mortgage Loan; 

      

      (15) the
        scheduled Stated Principal Balance of the Mortgage Loan as of the close of
        business on the related Cut-off Date, after deduction of payments of principal
        due on or before the related Cut-off Date whether or not collected;

      

      (16)
        a
        code indicating the purpose of the Mortgage Loan (i.e., purchase, rate and
        term
        refinance, equity take-out refinance); 

      

      (17)
        reserved; 

      

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (18) the
        number of times during the twelve (12) month period preceding the related
        Closing Date that any Monthly Payment has been received after the month of
        its
        scheduled due date;

      

      (19) the
        date
        on which the first payment is or was due; 

      

      (20) a
        code
        indicating whether or not the Mortgage Loan is the subject of a Primary Mortgage
        Insurance Policy and, if the subject of a Primary Mortgage Insurance Policy,
        the
        percentage of the coverage amount; 

      

      (21)
         a
        code
        indicating whether or not the Mortgage Loan is currently convertible and
        the
        conversion spread; 

      

      (22)
         the
        last
        Due Date on which a Monthly Payment was actually applied to the unpaid principal
        balance of the Mortgage Loan.

      

      (23)
         product
        type (i.e. 3/1, 5/1, etc.); 

      

      
        
          (24)
            credit
            score and/or mortgage score, if available;

        

      

      

      (25) reserved;
        

      

      (26) a
        code
        indicating whether or not the Mortgage Loan has a prepayment penalty and
        if so,
        the amount and term thereof; and

      

      (27) the
        Current Appraised Value of the Mortgage Loan and Current LTV, if
        applicable.

      

      With
        respect to the Mortgage Loans in the aggregate, the Mortgage Loan Schedule
        attached as Exhibit I shall set forth the following information, as of the
        related Cut-off Date:

      

      (1) the
        number of Mortgage Loans;

      

      (2) the
        current aggregate outstanding principal balance of the Mortgage
        Loans;

      

      (3) the
        weighted average Mortgage Interest Rate of the Mortgage Loans; 

      

      (4) the
        weighted average maturity of the Mortgage Loans; and

      

      (5)
         the
        weighted average months to next Adjustment Date;

       

      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; except
        that
        with respect to real property located in jurisdictions in which the use of
        leasehold estates for residential properties is a widely-accepted practice,
        a
        leasehold estate of the Mortgage, the term of which is equal to or longer
        than
        the term of the Mortgage. 

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

      Mortgagor:
        The
        obligor on a Mortgage Note. 

      

      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 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 party on behalf
        of
        whom the opinion is being given, reasonably acceptable to the
        Purchaser.

      

      Origination
        Date:
        The
        date on which a Mortgage Loan funded, which date shall not, in connection
        with a
        Refinanced Mortgage Loan, be the date of the funding of the debt being
        refinanced, but rather the closing of the debt currently outstanding under
        the
        terms of the Mortgage Loan Documents. 

      

      OTS:
        Office
        of Thrift Supervision, its successors and assigns.

      

      Periodic
        Rate Cap:
        As to
        each Mortgage Loan, the maximum increase or decrease in the Mortgage Interest
        Rate on any Adjustment Date, as set forth in the related Mortgage Note and
        the
        related Mortgage Loan Schedule.

      

      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; 

      

      
        	 	
                (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;

              

      

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

      

      
        	 	
                (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
                  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 of all of the Mortgage Loans and 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 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 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 or if such investment or security is
        purchased at a price greater than 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:
        With
        respect to any Remittance Date, for each Mortgage Loan that was the subject
        of a
        Principal Prepayment during the related Prepayment Period, an amount equal
        to
        the excess of one month’s interest at the applicable Mortgage Loan Remittance
        Rate on the amount of such Principal Prepayment over the amount of interest
        (adjusted to the Mortgage Loan Remittance Rate) actually paid by the related
        Mortgagor with respect to such Prepayment Period.

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

      

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

      

      Primary
        Mortgage Insurance Policy:
        Each
        primary policy of mortgage insurance represented to be in effect pursuant
        to
        Section 3.02(hh), or any replacement policy therefor obtained by the Company
        pursuant to Section 4.08.

      

      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 (Northeast Edition).

      

      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. 

       

      Purchase
        Price:
        As
        defined in Section 2.02.

      

      Purchaser:
        EMC
        Mortgage Corporation, its successors in interest and assigns.

      

      Qualified
        Appraiser:
        An
        appraiser, duly appointed by the Company, 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 such appraiser and the appraisal made by such appraiser
        both
        satisfy the requirements of Title XI of FIRREA and the regulations promulgated
        thereunder and the requirements of Fannie Mae, all as in effect on the date
        the
        Mortgage Loan was originated.

      

      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 or FHLMC. 

      

      Rating
        Agency:
        Standard & Poor's, Fitch, Inc. or, in the event that some or all of the
        ownership of the Mortgage Loans is evidenced by mortgage-backed securities,
        the
        nationally recognized rating agencies issuing ratings with respect to such
        securities, if any.

       

      Refinanced
        Mortgage Loan:
        A
        Mortgage Loan which was made to a Mortgagor who owned the Mortgaged Property
        prior to the origination of such Mortgage Loan and the proceeds of which
        were
        used in whole or part to satisfy an existing mortgage.

      

      REMIC:
        A "real
        estate mortgage investment conduit," as such term is defined in the
        Code.

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

      

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

      

      Remittance
        Date:
        The
        18th day of any month, beginning in April 2003, 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 Company of any REO Property.

      

      REO
        Disposition Proceeds:
        Amounts
        received by the Company in connection with a related REO
        Disposition.

      

      REO
        Property:
        A
        Mortgaged Property acquired by the Company on behalf of the Purchaser as
        described in Section 4.13.

      

      Repurchase
        Price:
        With
        respect to any Mortgage Loan, a price equal to (i) the product of the greater
        of
        100% or the percentage of par as stated in the Confirmation multiplied by
        the
        Stated Principal Balance of the Mortgage Loan on the Repurchase Date, plus
        (ii)
        interest on such outstanding principal balance at the Mortgage Loan Remittance
        Rate from the last date through which interest has been paid and distributed
        to
        the Purchaser to the end of the month of repurchase, plus, (iii) third party
        expenses incurred in connection with the transfer of the Mortgage Loan being
        repurchased; 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.

      

      SAIF:
        The
        Savings Association Insurance Fund, or any successor thereto.

      

      Servicing
        Advances:
        All
        customary, reasonable and necessary "out of pocket" costs and expenses
        (including reasonable attorneys' 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, 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 Company specifies
        the
        Mortgage Loan(s) to which such expenses relate and, upon Purchaser’s request,
        provides documentation supporting such expense (which documentation would
        be
        acceptable to Fannie Mae), and provided further that any such enforcement,
        administrative or judicial proceeding does not arise out of a breach of any
        representation, warranty or covenant of the Company hereunder), (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, (e) any expenses reasonably
        sustained by the Company with respect to the liquidation of the Mortgaged
        Property in accordance with the terms of this Agreement and (f) compliance
        with
        the obligations under Section 4.08.

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      

      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 computed. The obligation
        of
        the Purchaser to pay the Servicing Fee is limited to, and the Servicing Fee
        is
        payable solely from, the interest portion of such Monthly Payment collected
        by
        the Company, or as otherwise provided under Section 4.05 and in accordance
        with
        the Fannie Mae Guide(s). Any fee payable to the Company for administrative
        services related to any REO Property as described in Section 4.13 shall be
        payable from Liquidation Proceeds of the related REO Property.

      

      Servicing
        Fee Rate:
        The
        Servicing Fee Rate shall be a rate per annum equal to 0.375%.

      

      Servicing
        File:
        With
        respect to each Mortgage Loan, the items listed in Exhibit A-2, and any
        additional documents required to be added to the Mortgage File pursuant to
        this
        agreement.

      

      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 as of any date of determination, (i) the principal balance
        of
        such Mortgage Loan at the 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 Mortgage
        Loan representing payments or recoveries of principal or advances in lieu
        thereof.

      

      Subservicer:
        Any
        subservicer which is subservicing the Mortgage Loans pursuant to a Subservicing
        Agreement. Any subservicer shall meet the qualifications set forth in Section
        4.01.

      

      Subservicing
        Agreement:
        An
        agreement between the Company and a Subservicer, if any, for the servicing
        of
        the Mortgage Loans.

      

      

      ARTICLE
        II

      

      PURCHASE
        OF MORTGAGE LOANS; SERVICING OF MORTGAGE LOANS;

      RECORD
        TITLE AND POSSESSION OF MORTGAGE FILES;

      BOOKS
        AND RECORDS; CUSTODIAL AGREEMENT;

      DELIVERY
        OF MORTGAGE LOAN DOCUMENTS

      

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

       

      Section
        2.01 Agreement
        to Purchase.

      

      The
        Company agrees to sell and the Purchaser agrees to purchase the Mortgage
        Loans
        having an aggregate Stated Principal Balance on the related Cut-off Date
        in an
        amount as set forth in the Confirmation, or in such other amount as agreed
        by
        the Purchaser and the Company as evidenced by the actual aggregate Stated
        Principal Balance of the Mortgage Loans accepted by the Purchaser on the
        related
        Closing Date, with servicing retained by the Company. The Company shall deliver
        the related Mortgage Loan Schedule for the Mortgage Loans to be purchased
        on the
        related Closing Date to the Purchaser at least two (2) Business Days prior
        to
        the related Closing Date. The Mortgage Loans shall be sold pursuant to this
        Agreement on the related Closing Date.

      

      Section
        2.02 Purchase
        Price.

      

      The
        Purchase Price for each Mortgage Loan shall be the Purchase Price Percentage
        as
        stated in the Confirmation (subject to adjustment as provided therein),
        multiplied by the Stated Principal Balance, as of the related Cut-off Date,
        of
        the Mortgage Loan listed on the related Mortgage Loan Schedule attached as
        Exhibit I, after application of scheduled payments of principal due on or
        before
        the related Cut-off Date whether or not collected. 

      

      In
        addition to the Purchase Price as described above, the Purchaser shall pay
        to
        the Company, at closing, accrued interest on the Stated Principal Balance
        of
        each Mortgage Loan as of the related Cut-off Date at the Mortgage Loan
        Remittance Rate of each Mortgage Loan from the related Cut-off Date through
        the
        day prior to the related Closing Date, inclusive.

      

      The
        Purchase Price plus accrued interest as set forth in the preceding paragraph
        shall be paid on the related Closing Date by wire transfer of immediately
        available funds.

      

      Purchaser
        shall be entitled to (1) all scheduled principal due after the related Cut-off
        Date, (2) all other recoveries of principal collected on or 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 Company or any successor
        servicer after the related Cut-off Date shall belong to the Company), and
        (3)
        all payments of interest on the Mortgage Loans net of applicable Servicing
        Fees
        (minus that portion of any such payment which is allocable to the period
        prior
        to the related Cut-off Date). The outstanding 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,
        together with any unscheduled principal prepayments collected prior to the
        related Cut-off Date; provided, however, that 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 shall be the property of the Purchaser. The Company 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 Company
        to the
        Purchaser.

      

      Section
        2.03 Servicing
        of Mortgage Loans.

      

      The
        Company does hereby agree to directly service the Mortgage Loans listed on
        the
        related Mortgage Loan Schedule attached as Exhibit I and subject to the terms
        of
        this Agreement. The rights of the Purchaser to receive payments with respect
        to
        the related Mortgage Loans shall be as set forth in this
        Agreement.

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      

      

      Section
        2.04 Record
        Title and Possession of Mortgage Files; Maintenance of Servicing
        Files.

      

      As
        of the
        related Closing Date, the Company sold, transferred, assigned, set over and
        conveyed to the Purchaser, without recourse, and the Company hereby acknowledges
        that the Purchaser has, but subject to the terms of this Agreement, all the
        right, title and interest of the Company in and to the Mortgage Loans. Company
        will deliver the Mortgage Files to the Custodian designated by Purchaser,
        on or
        before the related Closing Date, at the expense of the Company. The Company
        shall maintain a Servicing File consisting of a copy of the contents of each
        Mortgage File and the documents listed on Exhibit A-2. The Servicing File
        shall
        contain all documents necessary to service the Mortgage Loans. The possession
        of
        each 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. From the related
        Closing Date, the ownership of each Mortgage Loan, including the Mortgage
        Note,
        the Mortgage, the contents of the related Mortgage File and all rights,
        benefits, proceeds and obligations arising therefrom or in connection therewith,
        has been vested in the Purchaser. 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 Company shall be received
        and held by the Company in trust for the benefit of the Purchaser as the
        owner
        of the Mortgage Loans. Any portion of the Mortgage Files retained by the
        Company
        shall be appropriately identified in the Company's computer system to clearly
        reflect the ownership of the Mortgage Loans by the Purchaser. The Company
        shall
        release its custody of the contents of the Mortgage Files only in accordance
        with written instructions of the Purchaser, except when 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 or Loans with respect thereto
        pursuant to this Agreement, such written instructions shall not be
        required.

      

      Section
        2.05  Books
        and Records.

      

      The
        sale
        of each Mortgage Loan has been 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 the Mortgage Loans that shall be appropriately identified in
        the
        Company's computer system to clearly reflect the ownership of the 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 FHLMC,
        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 of any condominium project as required by Fannie Mae or
        FHLMC, 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 Company
        may be in the form of microfilm or microfiche.

      
        
          
          

        

        
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      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 a Mortgage Loan and
        thereafter in accordance with applicable laws and regulations.

      

      In
        addition to the foregoing, Company shall provide to any supervisory agents
        or
        examiners that regulate Purchaser, including but not limited to, the OTS,
        the
        FDIC and other similar entities, access, during normal business hours, upon
        reasonable advance notice to Company and without charge to Company or such
        supervisory agents or examiners, to any documentation regarding the Mortgage
        Loans that may be required by any applicable regulator.

      

      Section
        2.06. Transfer
        of Mortgage Loans.

      

      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 any Mortgage Loan unless a notice of the transfer
        of such Mortgage Loan has been delivered to the Company in accordance with
        this
        Section 2.06 and the books and records of the Company show such person as
        the
        new record 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,
        provided, however, that the transferee will not be deemed to be a Purchaser
        hereunder binding upon the Company unless such transferee shall agree in
        writing
        to be bound by the terms of this Agreement and an original counterpart of
        the
        instrument of transfer in an Assignment and Assumption of this Agreement
        substantially in the form of Exhibit D hereto executed by the transferee
        shall
        have been delivered to the Company. 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 the previous Purchaser shall be released from its obligations
        hereunder with respect to the Mortgage Loans sold or transferred.

      

      If
        the
        Purchaser sells or transfers any of the Mortgage Loans, the Company shall
        not be
        required to service the Mortgage Loans for more than four (4) new record
        owners,
        without the prior written consent of the Company.

       

      Section
        2.07 Delivery
        of Mortgage Loan Documents.

      

      The
        Company shall deliver and release to the Purchaser or its designee the Mortgage
        Loan Documents in accordance with the terms of this Agreement.. If the Company
        cannot deliver the original recorded Mortgage Loan Documents or the original
        policy of title insurance, including riders and endorsements thereto, on
        the
        related Closing Date, the Company shall, promptly upon receipt thereof and
        in
        any case not later than 120 days from the related Closing Date, deliver such
        original documents, including original recorded documents, to the Purchaser
        or
        its designee (unless the Company is delayed in making such delivery by reason
        of
        the fact that such documents shall not have been returned by the appropriate
        recording office). If delivery is not completed within 120 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, Company shall
        deliver such document to Purchaser, or its designee, within such time period
        as
        specified in a Company's Officer's Certificate. In the event that documents
        have
        not been received by the date specified in the Company's Officer's Certificate,
        a subsequent Company's Officer's Certificate shall be delivered by such date
        specified in the prior Company's Officer's Certificate, stating a revised
        date
        for receipt of documentation. The procedure shall be repeated until the
        documents have been received and delivered. 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 Company shall continue to use its
        best
        efforts to effect delivery as soon as possible thereafter, provided that
        if such
        documents are not delivered by the 270th day from the date of the related
        Closing Date, the Company shall repurchase the related Mortgage Loans at
        the
        Repurchase Price in accordance with Section 3.03 hereof.

      

      
        
          
          

        

        
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      The
        Company shall pay all initial recording fees, if any, for the assignments
        of
        mortgage and any other fees in connection with the transfer of all original
        documents to the Purchaser or its designee. Company shall prepare, in recordable
        form, all assignments of mortgage necessary to assign the Mortgage Loans
        to
        Purchaser, or its designee. Company shall be responsible for recording the
        assignments of mortgage at the Purchasers direction.

      

      Company
        shall provide an original or duplicate original of the title insurance policy
        to
        Purchaser or its designee within ninety (90) days of the receipt of the recorded
        documents (required for issuance of such policy) from the applicable recording
        office.

      

      Any
        review by the Purchaser, or its designee, of the Mortgage Files shall in
        no way
        alter or reduce the Company's obligations hereunder.

      

      If
        the
        Purchaser or its designee discovers any defect with respect to a Mortgage
        File,
        the Purchaser shall, or shall cause its designee to, give written specification
        of such defect to the Company which may be given in the exception report
        or the
        certification delivered pursuant to this Section 2.07, or otherwise in writing
        and the Company shall cure or repurchase such Mortgage Loan in accordance
        with
        Section 3.03.

      

      The
        Company shall 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 Section 4.01 or 6.01 within
        two
        weeks of their execution; provided, however, that the Company shall provide
        the
        Purchaser, or its designee, with a certified true copy of any such document
        submitted for recordation within two weeks 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 two weeks following receipt of the original
        documents by the Company.

      
        
          
          

        

        
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      From
        time
        to time the Company may have a need for Mortgage Loan Documents to be released
        from Purchaser, or its designee. Purchaser shall, or shall cause its designee,
        upon the written request of the Company, within ten (10) Business Days, deliver
        to the Company, any requested documentation previously delivered to Purchaser
        as
        part of the Mortgage File, provided that such documentation is promptly returned
        to Purchaser, or its designee, when the Company no longer requires possession
        of
        the document, and provided that during the time that any such documentation
        is
        held by the Company, such possession is in trust for the benefit of Purchaser.
        Company shall indemnify Purchaser, and its designee, from and against any
        and
        all losses, claims, damages, penalties, fines, forfeitures, costs and expenses
        (including court costs and reasonable attorney's fees) resulting from or
        related
        to the loss, damage, or misplacement of any documentation delivered to Company
        pursuant to this paragraph.

      

      Section
        2.08 Quality
        Control Procedures.

      

      The
        Company 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 loan production
        and servicing activities. The program is to ensure that the Mortgage Loans
        are
        originated and 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.

      

      Section
        2.09  Modification
        of Obligations. 

      

      Purchaser
        may, without any notice to Company, extend, compromise, renew, release, change,
        modify, adjust or alter, by operation of law or otherwise, any of the
        obligations of the Mortgagors or other persons obligated under a Mortgage
        Loan
        without releasing or otherwise affecting the obligations of Company under
        this
        Agreement, or with respect to such Mortgage Loan, except to the extent
        Purchaser’s extension, compromise, release, change, modification, adjustment, or
        alteration affects Company’s ability to collect the Mortgage Loan or realize on
        the security of the Mortgage, but then only to the extent such action has
        such
        effect.

      

      

      

      

      
        
          
          

        

        
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      ARTICLE
        III

      

      REPRESENTATIONS
        AND WARRANTIES OF

      THE
        COMPANY; REPURCHASE; REVIEW OF MORTGAGE LOANS

      

      Section
        3.01 Representations
        and Warranties of the Company. 

      

      The
        Company represents, warrants and covenants to the Purchaser that, as of the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Company is a corporation, duly organized, validly existing and in good standing
        under the laws of the United States of America and has all licenses necessary
        to
        carry out its business as now being conducted, and is licensed and qualified
        to
        transact business in and is in good standing under the laws of each state
        in
        which any Mortgaged Property is located or is otherwise exempt under applicable
        law from such licensing or qualification or is otherwise not required under
        applicable law to effect such licensing or qualification and no demand for
        such
        licensing or qualification has been made upon such Company by any such state,
        and in any event such Company is in compliance with the laws of any 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
        Company has the full power and authority and legal right to hold, transfer
        and
        convey each Mortgage Loan, to sell each Mortgage Loan and 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 and
        any
        agreements contemplated hereby, has duly executed and delivered this Agreement,
        and any agreements contemplated hereby, and this Agreement and each Assignment
        to the Purchaser and any agreements contemplated hereby, constitutes a legal,
        valid and binding obligation of the Company, enforceable against it in
        accordance with its terms, and all requisite corporate action has been taken
        by
        the Company to make this Agreement and all agreements contemplated hereby
        valid
        and binding upon the Company in accordance with their terms; 

      

      (c)
        Neither the execution and delivery of this Agreement, nor the origination
        or
        purchase of the Mortgage Loans by the Company, the sale of the Mortgage Loans
        to
        the Purchaser, the consummation of the transactions contemplated 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 Company's
        charter 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 Company 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 Company or its properties are subject,
        or
        impair the ability of the Purchaser to realize on the Mortgage
        Loans.

      
        
          
          

        

        
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      (d)
        There
        is no litigation, suit, proceeding or investigation pending or, to the best
        of
        Company’s knowledge, threatened, or any order or decree outstanding, with
        respect to the Company which, either in any one instance or in the aggregate,
        is
        reasonably likely to have a material adverse effect on the sale of the Mortgage
        Loans, the execution, delivery, performance or enforceability of this Agreement,
        or which is reasonably likely to have a material adverse effect on the financial
        condition of the Company.

      

      (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 Company
        of
        or compliance by the Company with this Agreement, or the sale of the Mortgage
        Loans and delivery of the Mortgage Files to the Purchaser or the consummation
        of
        the transactions contemplated by this Agreement, except for consents, approvals,
        authorizations and orders which have been obtained;

      

      (f)
        The
        consummation of the transactions contemplated by this Agreement is in the
        ordinary course of business of the Company and Company, and the transfer,
        assignment and conveyance of the Mortgage Notes and the Mortgages by the
        Company
        pursuant to this Agreement are not subject to bulk transfer or any similar
        statutory provisions in effect in any applicable jurisdiction;

      

      (g)
        The
        origination and servicing practices used by the Company and any prior originator
        or servicer with respect to each Mortgage Note and Mortgage have been legal
        and
        in accordance with applicable laws and regulations and the Mortgage Loan
        Documents, and in all material respects proper and prudent in the mortgage
        origination and servicing business. Each Mortgage Loan has been serviced
        in all
        material respects with Accepted Servicing Practices. With respect to escrow
        deposits and payments that the Company, on behalf of an investor, is entitled
        to
        collect, all such payments are in the possession of, or under the control
        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
        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;

      

      (h) INTENTIONALLY
        LEFT BLANK 

      

      (i) The
        Company will treat the sale of the Mortgage Loans to the Purchaser as a sale
        for
        reporting and accounting purposes and, to the extent appropriate, for federal
        income tax purposes; 

      

      (j) Company
        is an approved seller/servicer of residential mortgage loans for Fannie Mae,
        FHLMC and HUD, with such facilities, procedures and personnel necessary for
        the
        sound servicing of such mortgage loans. The Company is duly qualified, licensed,
        registered and otherwise authorized under all applicable federal, state and
        local laws, and regulations, if applicable, meets the minimum capital
        requirements set forth by the OCC, and is in good standing to sell mortgage
        loans to and service mortgage loans for Fannie Mae and FHLMC and no event
        has
        occurred which would make Company unable to comply with eligibility requirements
        or which would require notification to either Fannie Mae or FHLMC;

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      

      (k) The
        Company does not believe, nor does it have any cause or reason 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 with
        the
        intent to hinder, delay or defraud any of the Company's creditors;

      

      (l) No
        statement, tape, diskette, form, report or other document prepared by, or
        on
        behalf of, Company pursuant to this Agreement or in connection with the
        transactions contemplated hereby, contains or will contain any statement
        that is
        or will be inaccurate or misleading in any material respect;

      

      (m)
         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. In the opinion of Company, the consideration received
        by
        Company upon the sale of the Mortgage Loans to Purchaser under this Agreement
        constitutes fair consideration for the Mortgage Loans under current market
        conditions. 

      

      (n)
         Company
        has delivered to the Purchaser financial statements of its parent, for its
        last
        two complete fiscal years. All such financial information fairly presents
        the
        pertinent results of operations and financial position for the period identified
        and has been prepared in accordance with GAAP consistently applied throughout
        the periods involved, except as set forth in the notes thereto. There has
        been
        no change in the business, operations, financial condition, properties or
        assets
        of the Company since the date of the Company’s financial information that would
        have a material adverse effect on its ability to perform its obligations
        under
        this Agreement;

      

       

      Section
        3.02 Representations
        and Warranties as to Individual Mortgage Loans.

      

      References
        in this Section to percentages of Mortgage Loans refer in each case to the
        percentage of the aggregate Stated Principal Balance of the Mortgage Loans
        as of
        the related Cut-off Date, based on the outstanding Stated Principal Balances
        of
        the Mortgage Loans as of the related Cut-off Date, and giving effect to
        scheduled Monthly Payments due on or prior to the related Cut-off Date, whether
        or not received. References to percentages of Mortgaged Properties refer,
        in
        each case, to the percentages of expected aggregate Stated Principal Balances
        of
        the related Mortgage Loans (determined as described in the preceding sentence).
        The Company hereby represents and warrants to the Purchaser, as to each Mortgage
        Loan, as of the related Closing Date as follows:

      

      (a)
         The
        information set forth in the Mortgage Loan Schedule attached as Exhibit I
        is
        true, complete and correct in all material respects as of the related Cut-Off
        Date;

      

      (b) The
        Mortgage creates a valid, subsisting and enforceable first lien or a first
        priority ownership interest in an estate in fee simple in real property securing
        the related Mortgage Note subject to principles of equity, bankruptcy,
        insolvency and other laws of general application affecting the rights of
        creditors; 

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      

      

      (c)
        All
        payments due prior to the related Cut-off Date for such Mortgage Loan have
        been
        made as of the related Closing Date; the Mortgage Loan has not been dishonored;
        there are no material defaults under the terms of the Mortgage Loan; the
        Company
        has not advanced its own funds, or induced, solicited or knowingly received
        any
        advance of funds from a party other than the owner of the Mortgaged Property
        subject to the Mortgage, directly or indirectly, for the payment of any amount
        required by the Mortgage Loan. As
        of the
        related Closing Date, all of the Mortgage Loans will have an actual Interest
        Paid to Date of their related Cut-off Date (or later) and will be due for
        the
        scheduled monthly payment next succeeding the Cut-off Date (or later), as
        evidenced by a posting to Company's servicing collection system. No payment
        under any Mortgage Loan is delinquent as of the related Closing Date nor
        has any
        scheduled payment been delinquent more than once during the twelve (12) month
        period prior to the Cut-off Date. For purposes of this paragraph, a Mortgage
        Loan will be deemed delinquent if any payment due thereunder was not paid
        by the
        Mortgagor in the month such payment was due;

      

      (d)
        There
        are no defaults by Company in complying with the terms of the Mortgage, and
        all
        taxes, governmental assessments, insurance premiums, water, sewer and municipal
        charges, leasehold payments or ground rents 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;

      

      (e)
        The
        terms of the Mortgage Note and the Mortgage have not been impaired, waived,
        altered or modified in any respect, except by written instruments which have
        been recorded to the extent any such recordation is required by law, or,
        necessary to protect the interest of the Purchaser. No instrument of waiver,
        alteration or modification has been executed except in connection with a
        modification agreement and which modification agreement is part of the Mortgage
        File and the terms of which are reflected in the related Mortgage Loan Schedule,
        and no Mortgagor has been released, in whole or in part, from the terms thereof
        except in connection with an assumption agreement and which assumption agreement
        is part of the Mortgage File and the terms of which are reflected in the
        related
        Mortgage Loan Schedule; the substance of any such waiver, alteration or
        modification has been approved by the issuer of any related Primary Mortgage
        Insurance Policy and title insurance policy, to the extent required by the
        related policies;

      

      (f)
        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 or
        the
        Mortgage, or the exercise of any right thereunder, render the Mortgage Note
        or
        Mortgage unenforceable, in whole or in part, or subject to any right of
        rescission, set-off, counterclaim or defense, including the defense of usury,
        and no such right of rescission, set-off, counterclaim or defense has been
        asserted with respect thereto; and as of the related Closing Date the Mortgagor
        was not a debtor in any state or federal bankruptcy or insolvency
        proceeding;

      
        
          
          

        

        
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      (g)
        All
        buildings or other customarily insured improvements upon the Mortgaged Property
        are insured by an insurer acceptable under the Fannie Mae or FHLMC Guides,
        against loss by fire, hazards of extended coverage and such other hazards
        as are
        provided for in the Fannie Mae or FHLMC Guide, as well as all additional
        requirements set forth in Section 4.10 of this Agreement. All such standard
        hazard policies are in full force and effect and contain a standard mortgagee
        clause naming the Company and its successors in interest and assigns as loss
        payee and such clause is still in effect and all premiums due thereon have
        been
        paid. If required by the Flood Disaster Protection Act of 1973, as amended,
        the
        Mortgage Loan is covered by a flood insurance policy meeting the requirements
        of
        the current guidelines of the Federal Insurance Administration which policy
        conforms to Fannie Mae or FHLMC requirements, as well as all additional
        requirements set forth in Section 4.10 of this Agreement. Such policy was
        issued
        by an insurer acceptable under Fannie Mae or FHLMC guidelines. 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.
        Neither
        the Company (nor any prior originator or servicer of any of the Mortgage
        Loans)
        nor any Mortgagor has engaged in any act or omission which has impaired or
        would
        impair the coverage of any such policy, the benefits of the endorsement provided
        for herein, or the validity and binding effect of either;

      

      (h)
        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 or disclosure laws applicable
        to the
        Mortgage Loan have been complied with in all material respects. 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) classified and/or defined as a “high cost”, "covered", or “predatory” loan
        under any other state, federal or local law or regulation or ordinance,
        including, but not limited to, the States of Georgia and North Carolina and
        the
        City of New York. The Company 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 Company's office during normal business
        hours upon reasonable advance notice;

      

      (i)
        The
        Mortgage has not been satisfied, canceled or subordinated, in whole or in
        part,
        or rescinded, 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.
        The
        Company has not 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, nor has the Company waived any default resulting from any action
        or
        inaction by the Mortgagor;

      
        
          
          

        

        
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      (j) The
        Mortgage is a valid, subsisting, enforceable and perfected 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 affixed to such buildings, and all additions, alterations and
        replacements made at any time with respect to the foregoing securing the
        Mortgage Note's original principal balance subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors. The Mortgage and the Mortgage Note do not contain any
        evidence of any security interest or other interest or right thereto. Such
        lien
        is free and clear of all adverse claims, liens and encumbrances having priority
        over the first lien of the Mortgage subject only to (1) the lien of
        non-delinquent 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 which
        are
        acceptable to mortgage lending institutions generally and either (A) which
        are
        referred to in the lender’s title insurance policy delivered to the originator
        or otherwise considered in the appraisal made for the originator of the Mortgage
        Loan, or (B) which do not adversely affect the residential use or Appraised
        Value of the Mortgaged Property as set forth in such appraisal, and (3) 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, subsisting, enforceable and
        perfected first lien and first priority security interest on the property
        described therein, and the Company has the full right to sell and assign
        the
        same to the Purchaser;

      

      (k)
        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 subject to principles of equity,
        bankruptcy, insolvency and other laws of general application affecting the
        rights of creditors, and the Company has taken all action necessary to transfer
        such rights of enforceability to the Purchaser. 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. The Mortgage Loan
        Documents are on forms acceptable to Fannie Mae and FHLMC. The Mortgage Note
        and
        the Mortgage have been duly and properly executed by such parties. No fraud,
        error, omission, misrepresentation, negligence or similar occurrence with
        respect to a Mortgage Loan has taken place on the part of Company or the
        Mortgagor, or on the part of any other party involved in the origination
        or
        servicing of the Mortgage Loan. The proceeds of the Mortgage Loan have been
        fully disbursed and there is no requirement for future advances thereunder,
        and
        any and all requirements as to completion of any on-site or off-site
        improvements and as to disbursements of any escrow funds therefor have been
        complied with. All costs, fees and expenses incurred in making or closing
        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;

      

      (l)
        The
        Company is the sole owner and holder of the Mortgage Loan and the indebtedness
        evidenced by the Mortgage Note. Upon the sale of the Mortgage Loan to the
        Purchaser, the Company will retain the Mortgage File or any part thereof
        with
        respect thereto not delivered to the Purchaser or the Purchaser’s designee in
        trust only for the purpose of servicing and supervising the servicing of
        the
        Mortgage Loan. Immediately prior to the transfer and assignment to the
        Purchaser, the Mortgage Loan, including the Mortgage Note and the Mortgage,
        were
        not subject to an assignment, sale or pledge to any person other than Purchaser,
        and the Company had good and marketable title to and was the sole owner thereof
        and had full right to transfer and sell the Mortgage Loan to the Purchaser
        free
        and clear of any encumbrance, equity, lien, pledge, charge, claim or security
        interest and has the full right and authority subject to no interest or
        participation of, or agreement with, any other party, to sell and assign
        the
        Mortgage Loan pursuant to this Agreement and following the sale of the Mortgage
        Loan, the Purchaser will own such Mortgage Loan free and clear of any
        encumbrance, equity, participation interest, lien, pledge, charge, claim
        or
        security interest. The Company intends to relinquish all rights to possess,
        control and monitor the Mortgage Loan, except for the purposes of servicing
        the
        Mortgage Loan as set forth in this Agreement. After the related Closing Date,
        the Company will not have any right to modify or alter the terms of the sale
        of
        the Mortgage Loan and the Company will not have any obligation or right to
        repurchase the Mortgage Loan or substitute another Mortgage Loan, except
        as
        provided in this Agreement, or as otherwise agreed to by the Company and
        the
        Purchaser;

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

      

      

      (m)
        Each
        Mortgage Loan is either (a) the subject of an attorney title certificate
        or
        opinion delivered at the origination of the Mortgage Loan which states that
        the
        mortgage is a first lien on the Mortgaged Property or (b) covered by an ALTA
        lender's title insurance policy or other generally acceptable form of policy
        or
        insurance acceptable to Fannie Mae or FHLMC (including adjustable rate
        endorsements), issued by a title insurer acceptable to Fannie Mae or FHLMC
        and
        qualified to do business in the jurisdiction where the Mortgaged Property
        is
        located, insuring (subject to the exceptions contained in (j)(1), (2) and
        (3)
        above) the Company, its successors and assigns, as to the first priority
        lien of
        the Mortgage in the original principal amount of the Mortgage Loan and 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 and Monthly Payment. Where required by state law or regulation,
        the Mortgagor has been given the opportunity to choose the carrier of the
        required mortgage title insurance. The Company, its successors and assigns,
        is
        the sole insured of such lender's title insurance policy, such title insurance
        policy has been duly and validly endorsed to the Purchaser or the assignment
        to
        the Purchaser of the Company's interest therein does not require the consent
        of
        or notification to the insurer 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. No claims have been made
        under such lender's title insurance policy, and no prior holder or servicer of
        the related Mortgage, including the Company, nor any Mortgagor to the best
        of
        knowledge, has done, by act or omission, anything which would impair the
        coverage of such lender's title insurance policy;

      

      (n)
        There
        is no default, breach, violation or event of acceleration existing under
        the
        Mortgage or the related Mortgage Note and no event which, with the passage
        of
        time or with notice and the expiration of any grace or cure period, would
        constitute a default, breach, violation or event permitting acceleration;
        and
        neither the Company, nor any prior mortgagee has waived any default, breach,
        violation or event permitting acceleration;

      

      (o)
        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 law could give
        rise
        to such liens) affecting the related Mortgaged Property which are or may
        be
        liens prior to or equal to the lien of the related Mortgage;

      

      (p)
        As of
        the origination date of such Mortgage Loan, all improvements subject to the
        Mortgage 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 wholly within the project with respect
        to a
        condominium unit) and to the best of Company’s knowledge, no improvements on
        adjoining properties encroach upon the Mortgaged Property except those which
        are
        insured against by the title insurance policy referred to in clause (m) above
        and all improvements on the property comply with all applicable zoning and
        subdivision laws and ordinances;

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      

      

      (q)
        Each
        Mortgage Loan was originated by or for the Company pursuant to, and conforms
        with, the Company’s underwriting guidelines attached as Exhibit H hereto. The
        Mortgage Loan bears interest at an adjustable rate as set forth in the related
        Mortgage Loan Schedule, and Monthly Payments under the Mortgage Note are
        due and
        payable on the first day of each month. The Mortgage contains the usual and
        enforceable provisions of the Company at the time of origination for the
        acceleration of the payment of the unpaid principal amount of the Mortgage
        Loan
        if the related Mortgaged Property is sold without the prior consent of the
        mortgagee thereunder;

      

      (r)
        The
        Mortgaged Property is not subject to any material damage or is fully insured
        to
        cover such damage. At origination of the Mortgage Loan there was not, since
        origination of the Mortgage Loan there has not been, and there currently
        is no
        proceeding pending for the total or partial condemnation of the Mortgaged
        Property. The Company has not received notification that any such proceedings
        are scheduled to commence at a future date;

      

      (s)
        The
        related 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, (1) in the case of a Mortgage designated as a deed of trust, by
        trustee's sale, and (2) otherwise by judicial foreclosure. There is no homestead
        or other exemption available to the Mortgagor which would interfere with
        the
        right to sell the Mortgaged Property at a trustee's sale or the right to
        foreclose the Mortgage;

      

      (t)
        If
        the Mortgage constitutes a deed of trust, a trustee, authorized and duly
        qualified if required under applicable law to act as such, has been properly
        designated and currently so serves and is named in the Mortgage, and no fees
        or
        expenses, except as may be required by local law, are or will become payable
        by
        the Purchaser to the trustee under the deed of trust, except in connection
        with
        a trustee's sale or attempted sale after default by the Mortgagor;

      

      (u)
        The
        Mortgage File contains an appraisal of the related Mortgaged Property signed
        prior to the final approval of the mortgage loan application by a Qualified
        Appraiser, approved by the Company, 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 appraiser both satisfy the requirements of Fannie
        Mae or FHLMC and Title XI of the Federal Institutions Reform, Recovery, and
        Enforcement Act of 1989 and the regulations promulgated thereunder, all as
        in
        effect on the date the Mortgage Loan was originated. The appraisal is in
        a form
        acceptable to Fannie Mae or FHLMC;

      

      (v)
        All
        parties which have had any interest in the Mortgage, whether as mortgagee,
        assignee, pledgee or otherwise, are (or, during the period in which they
        held
        and disposed of such interest, were) (A) in compliance with any and all
        applicable licensing requirements of the laws of the state wherein the Mortgaged
        Property is located, and (B) (1) organized under the laws of such state,
        or (2)
        qualified to do business in such state, or (3) federal savings and loan
        associations or national banks or a Federal Home Loan Bank or savings bank
        having principal offices in such state, or (4) not doing business in such
        state;

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      

      

      (w)
        The
        related Mortgage Note is not and has not been secured by any collateral except
        the lien of the corresponding Mortgage and the security interest of any
        applicable security agreement or chattel mortgage referred to above and such
        collateral does not serve as security for any other obligation;

      

      (x)
        The
        Mortgagor has received and has executed, where applicable, all disclosure
        materials required by applicable law with respect to the making of such mortgage
        loans;

      

      (y)
        The
        Mortgage Loan does not contain balloon or "graduated payment" features; No
        Mortgage Loan is subject to a buydown agreement or contains any buydown
        provision;

      

      (z)
        The
        Mortgagor is not in bankruptcy and, the Mortgagor is not insolvent and the
        Company has no knowledge of any circumstances or conditions 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 marketability of
        the
        Mortgage Loan;

      

      (aa)
        If
        applicable, the Index for the Mortgage Loans is a rate per annum equal to
        the
        weekly average yield on United States Treasury securities adjusted to a constant
        maturity of one (1) year, as made available by the Federal Reserve Board.
        Each
        Mortgage Loan bears interest based upon a thirty (30) day month and a three
        hundred and sixty (360) day year. The Mortgage Loans have an original term
        to
        maturity of not more than thirty (30) years, with interest payable in arrears
        on
        the first day of each month. As to each Mortgage Loan, on each applicable
        Adjustment Date, the Mortgage Interest Rate will be adjusted to equal the
        sum of
        the Index, plus the applicable Margin; provided, that the Mortgage Interest
        Rate, on each applicable Adjustment Date, will not increase by more than
        the
        Initial Rate Cap or Periodic Rate Cap, as applicable. Over the term of each
        Mortgage Loan, the Mortgage Interest Rate will not exceed such Mortgage Loan's
        Lifetime Rate Cap. None of the Mortgage Loans are “interest-only” Mortgage Loans
        or “negative amortization” Mortgage Loans. Each Mort-gage Note requires a
        monthly payment which is suffi-cient (a) during the period prior to the first
        adjust-ment to the Mortgage Interest Rate, to fully amortize the original
        principal balance over the original term thereof and to pay interest at the
        related Mortgage Interest Rate, and (b) during the period following each
        Adjust-ment Date, 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. The Mortgage Note
        provides that when the Mortgage Interest Rate changes on an Adjustment Date,
        the
        then outstanding principal balance will be reamortized over the remaining
        life
        of the Mortgage Loan. No Mortgage Loan contains terms or provi-sions which
        would
        result in negative amortization. None of the Mortgage Loans are considered
        agricultural loans; 

      

      (bb)
         
        (INTENTIONALLY LEFT BLANK)

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      

      

      (cc)
        (INTENTIONALLY LEFT BLANK)

      

      (dd)
        (INTENTIONALLY LEFT BLANK)

       

      (ee)
        (INTENTIONALLY LEFT BLANK) 

      

      (ff)
        (INTENTIONALLY LEFT BLANK)

      

      (gg) 
        (INTENTIONALLY LEFT BLANK)

      

      (hh) In
        the
        event the Mortgage Loan had an LTV at origination greater than 80.00%, such
        Mortgage Loan is and will be subject to a Primary Mortgage Insurance Policy
        issued by a Qualified Insurer in the coverage amount set forth on the Mortgage
        Loan Schedule. All of the aforementioned Mortgage Loans are currently insured
        as
        to payment defaults by a Primary Mortgage Insurance Policy issued by a Qualified
        Insurer unless the Primary Mortgage Insurance Policy has been cancelled due
        to
        Mortgagor request (and in
        accordance with federal, state and local laws and regulations) and the Current
        LTV of the Mortgage Loan has been reduced below 80.00% (all as reflected
        on the
        related Mortgage Loan Schedule).
        No
        Mortgage Loan has an LTV over 95%. 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. No Mortgage
        Loan requires payment of such premiums, in whole or in part, by the Purchaser.
        No action, inaction, or event has occurred and no state of facts exists that
        has, or will result in the exclusion from, denial of, or defense to coverage.
        Any Mortgage Loan subject to a Primary Mortgage Insurance Policy obligates
        the
        Mortgagor thereunder to maintain the Primary Mortgage Insurance Policy, subject
        to state and federal law, and to pay all premiums and charges in connection
        therewith. No action has been taken or failed to be taken, on or prior to
        the
        Closing Date which has resulted or will result in an exclusion from, denial
        of,
        or defense to coverage under any Primary Mortgage Insurance Policy (including,
        without limitation, any exclusions, denials or defenses which would limit
        or
        reduce the availability of the timely payment of the full amount of the loss
        otherwise due thereunder to the insured) whether arising out of actions,
        representations, errors, omissions, negligence, or fraud of the Company or
        the
        Mortgagor, or for any other reason under such coverage; The mortgage interest
        rate for the Mortgage Loan as set forth on the related Mortgage Loan Schedule
        is
        net of any such insurance premium. None of the Mortgage Loans are subject
        to
“lender-paid” mortgage insurance;

      

      (ii) The
        Assignment is in recordable form and is acceptable for recording under the
        laws
        of the jurisdiction in which the Mortgaged Property is located;

      

      (jj) None
        of
        the Mortgage Loans are secured by an interest in a leasehold estate. 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 townhouse, or a two-to four-family
        dwelling, or an individual condominium unit in a condominium project, or
        an
        individual unit in a planned unit development or a de minimis planned unit
        development, provided, however, that no residence or dwelling is a single
        parcel
        of real property with a manufactured home not affixed to a permanent foundation,
        or a mobile home. Any
        condominium unit or planned unit development conforms with the Company’s
        underwriting guidelines. As
        of the
        date of origination, no portion of any Mortgaged Property is used for commercial
        purposes, and since the Origination Date, no portion of any Mortgaged Property
        has been, or currently is, used for commercial purposes;

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      

      

      (kk) Payments
        on the Mortgage Loan commenced no more than sixty (60) days after the funds
        were
        disbursed in connection with the Mortgage Loan. The Mortgage Note is payable
        on
        the first day of each month in monthly installments of principal and interest,
        which installments are subject to change due to the adjustments to the Mortgage
        Interest Rate on each Adjustment Date, with interest calculated and payable
        in
        arrears. Each of the Mortgage Loans will amortize fully by the stated maturity
        date, over an original term of not more than thirty years from commencement
        of
        amortization;

      

      (ll) To
        the
        best of knowledge, as of the Closing Date of the Mortgage Loan, the Mortgage
        Property was lawfully occupied under applicable law, and 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;

      

      (mm) There
        is
        no pending action or proceeding directly involving the Mortgaged Property
        in
        which compliance with any environmental law, rule or regulation is an issue;
        there is no violation of any environmental law, rule or regulation with respect
        to the Mortgaged Property; and the Company has not received any notice of
        any
        environmental hazard on the Mortgaged Property and 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) The
        Mortgagor has not notified the Company, and the Company has no knowledge
        of any
        relief requested or allowed to the Mortgagor under the Soldiers' and Sailors'
        Civil Relief Act of 1940;

      

      (oo)
        No
        Mortgage Loan is a construction or rehabilitation Mortgage Loan or was made
        to
        facilitate the trade-in or exchange of a Mortgaged Property;

      

      (pp) The
        Mortgagor for each Mortgage Loan is a natural person;

      

      (qq) (INTENTIONALLY
        LEFT BLANK)

      

      (rr) [None
        of
        the Mortgage Loans are Co-op Loans];

      

      (ss) (INTENTIONALLY
        LEFT BLANK)

      

      (tt)
        (INTENTIONALLY LEFT BLANK)

      

      (uu)
        (INTENTIONALLY LEFT BLANK) 

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      

      

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

      

      (ww)
        None
        of the Mortgage Loans are simple interest Mortgage Loans and none of the
        Mortgaged Properties are timeshares; 

      

      (xx)
        All
        of the terms of the Mortgage pertaining to interest rate adjustments, payment
        adjustments and adjustments of the outstanding principal balance are
        enforceable, all such adjustments have been properly made, including the
        mailing
        of required notices, and such adjustments do not and will not affect the
        priority of the Mortgage lien. With respect to each Mortgage Loan which has
        passed its initial Adjustment Date, Company has performed an audit of the
        Mortgage Loan to determine whether all interest rate adjustments have been
        made
        in accordance with the terms of the Mortgage Note and Mortgage; and

      

      (yy)
        Each
        Mortgage Note, each Mortgage, each Assignment and any other documents required
        pursuant to this Agreement to be delivered to the Purchaser or its designee,
        or
        its assignee for each Mortgage Loan, have been, on or before the related
        Closing
        Date, delivered to the Purchaser or its designee, or its assignee;

      

      Section
        3.03 Repurchase;
        Substitution; Near-Term Principal Prepayments.

      

      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 and delivery
        of the Mortgage Loan Documents to the Purchaser, or its designee, and shall
        inure to the benefit of the Purchaser, notwithstanding any restrictive or
        qualified endorsement on any Mortgage Note or Assignment or the examination,
        or
        lack of examination, of any 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 in any Mortgage Loan, the party
        discovering such breach shall give prompt written notice to the other. The
        Company shall have a period of sixty (60) days from the earlier of its discovery
        or its receipt of notice of any such breach within which to correct or cure
        such
        breach. The Company hereby covenants and agrees that if any such breach is
        not
        corrected or cured within such sixty day period, the Company shall, at the
        Purchaser's option and not later than ninety (90) days of its discovery or
        its
        receipt of notice of such breach, repurchase such Mortgage Loan at the
        Repurchase Price or, with the Purchaser's prior consent and at Purchaser’s sole
        option, substitute a Mortgage Loan as provided below. In the event that any
        such
        breach shall involve any representation or warranty set forth in Section
        3.01,
        and such breach is not cured within sixty (60) days of the earlier of either
        discovery by or notice to the Company of such breach, all Mortgage Loans
        shall,
        at the option of the Purchaser, be repurchased by the Company at the Repurchase
        Price. Any such repurchase shall be accomplished by wire transfer of immediately
        available funds to Purchaser in the amount of the Repurchase
        Price.

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      

      If
        the
        Company is required to repurchase any Mortgage Loan pursuant to this Section
        3.03, the Company may, with the Purchaser's prior consent and at Purchaser’s
        sole option, within ninety (90) days from the related Closing Date, remove
        such
        defective Mortgage Loan from the terms of this Agreement and substitute another
        mortgage loan for such defective Mortgage Loan, in lieu of repurchasing such
        defective Mortgage Loan. Any substitute Mortgage Loan is subject to Purchaser
        acceptability. Any substituted Loans will comply with the representations
        and
        warranties set forth in this Agreement as of the substitution date

      

      At
        the
        option of the Purchaser, the Company shall repurchase any Mortgage Loan which
        has become 30 or more days delinquent, at any time, prior to June 1,
        2003.

      

      The
        Company shall amend the related Mortgage Loan Schedule to reflect the withdrawal
        of the removed Mortgage Loan from this Agreement and the substitution of
        such
        substitute Mortgage Loan therefor. Upon such amendment, the Purchaser shall
        review the Mortgage File delivered to it relating to the substitute Mortgage
        Loan. 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
        Purchaser 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 Company. The principal payment on a
        substitute Mortgage Loan due on the Due Date in the month of substitution
        shall
        be the property of the Company and the principal payment on the Mortgage
        Loan
        for which the substitution is made due on such date shall be the property
        of the
        Purchaser.

      

      It
        is
        understood and agreed that the obligation of the Company set forth in this
        Section 3.03 to cure, repurchase or substitute for a defective Mortgage Loan,
        and to indemnify Purchaser pursuant to Section 8.01, constitute the sole
        remedies of the Purchaser respecting a breach of the foregoing representations
        and warranties. If the Company fails to repurchase or substitute for a defective
        Mortgage Loan in accordance with this Section 3.03, or fails to cure a defective
        Mortgage Loan to Purchaser's reasonable satisfaction in accordance with this
        Section 3.03, or to indemnify Purchaser pursuant to Section 8.01, that failure
        shall be an Event of Default and the Purchaser shall be entitled to pursue
        all
        remedies available in this Agreement as a result thereof. No provision of
        this
        paragraph shall affect the rights of the Purchaser to terminate this Agreement
        for cause, as set forth in Sections 10.01 and 11.01.

      

      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) the earlier of discovery of such breach by the
        Company or notice thereof by the Purchaser to the Company, (ii) failure 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 that any Mortgage Loan is held by a REMIC, notwithstanding any contrary
        provision of this Agreement, with respect to any Mortgage Loan that is not
        in
        default or as to which no default is imminent, no substitution pursuant to
        Subsection 3.03 shall be made after the applicable REMIC's "start up day"
        (as
        defined in Section 860G(a) (9) of the Code), unless the Company has obtained
        an
        Opinion of Counsel to the effect that such substitution will not (i) result
        in
        the imposition of taxes on "prohibited transactions" of such REMIC (as defined
        in Section 860F of the Code) or otherwise subject the REMIC to tax, or (ii)
        cause the REMIC to fail to qualify as a REMIC at any time.

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      

      In
        the
        event any Principal Prepayment is made by a Mortgagor on or prior to June
        30,
        2003, the Company shall remit to the Purchaser an amount equal to the excess,
        if
        any, of the Purchase Price Percentage over par multiplied by the amount of
        such
        Principal Prepayment. Such remittance shall be made by the Company to Purchaser
        no later than the third Business Day following receipt of such Principal
        Prepayment by the Company.

      

      

      Section
        3.04 Representations
        and Warranties of the Purchaser.

       

      The
        Purchaser represents, warrants and convenants to the Company that, as of
        the
        related Closing Date or as of such date specifically provided
        herein:

      

      (a) The
        Purchaser is a corporation, dully organized validly existing and in good
        standing under the laws of the State of Delaware 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 except or not required under applicable
        law
        to effect such qualification or license;

      

      (b) The
        Purchaser has full power and authority to hold each Mortgage Loan, to purchase
        each Mortgage Loan pursuant to this Agreement and 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 ;

      

      (c) None
        of
        the execution and delivery of this Agreement , the purchase of the Mortgage
        Loans, the consummation of the transactions contemplated 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 Purchaser’s
        charter 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 Purchaser
        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 Purchaser
        or
        its property is subject;

      

      (d) There
        is
        no litigation pending or to the best of the Purchaser’s knowledge, threatened
        with respect to the Purchaser which is reasonably likely to have a material
        adverse effect on the purchase of the related Mortgage Loans, 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
        Purchaser;

      

      (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 Purchaser
        of
        or compliance by the Purchaser with this Agreement, the purchase of the Mortgage
        Loans or the consummation of the transactions contemplated by this Agreement
        except for consents, approvals, authorizations and orders which have been
        obtained;

      
        
          
          

        

        
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      (f) The
        consummation of the transactions contemplated by this Agreement is in the
        ordinary course of business of the Purchaser;

      

      (h) The
        Purchaser will treat the purchase of the Mortgage Loans from the Company
        as a
        purchase for reporting, tax and accounting purposes; and

      

      (i) The
        Purchaser does not believe, nor does it have any cause or reason to believe,
        that it cannot perform each and every of its covenants contained in this
        Agreement.

      

      The
        Purchaser shall indemnify the Company and hold it harmless against any claims,
        proceedings, losses, damages, penalties, fines, forfeitures, reasonable and
        necessary legal fees and related costs, judgments, and other costs and expenses
        resulting from a breach by the Purchaser of the representations and warranties
        contained in this Section 3.04. It is understood and agreed that the obligations
        of the Purchaser set forth in this Section 3.04 to indemnify the Seller as
        provided herein constitute the sole remedies of the Seller respecting a breach
        of the foregoing representations and warranties.

      

      

      
        
          
          

        

        
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      ARTICLE
        IV

      

      ADMINISTRATION
        AND SERVICING OF MORTGAGE LOANS

      

      Section
        4.01 Company
        to Act as Servicer.

      

      The
        Company, as independent contract servicer, shall service and administer the
        Mortgage Loans in accordance with this Agreement and with Accepted Servicing
        Practices, 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 Company may deem necessary or desirable and consistent
        with the terms of this Agreement and with Accepted Servicing Practices and
        exercise the same care that it customarily employs for its own account. Except
        as set forth in this Agreement, the Company shall service the Mortgage Loans
        in
        strict compliance with the servicing provisions of the Fannie Mae Guides
        (special servicing option), 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 mortgage
        impairment insurance, 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, the title, management
        and disposition 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
        Files, 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 Guides, the provisions of this Agreement shall control and be binding
        upon
        the Purchaser and the Company. 

      

      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 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 unless 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 for more than ninety days or forgive
        any 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 Purchaser and 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 4.04, 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 pursuant to
        Section 4.05. Without limiting the generality of the foregoing, the Company
        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. Notwithstanding
        anything herein to the contrary, the Company may not enter into a forbearance
        agreement or similar arrangement with respect to any Mortgage Loan which
        runs
        more than 180 days after the first delinquent Due Date. Any such agreement
        shall
        be approved by Purchaser and, if required, by the Primary Mortgage Insurance
        Policy insurer, if required. 

      
        
          
          

        

        
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      Notwithstanding
        anything in this Agreement to the contrary, if any Mortgage Loan becomes
        subject
        to a Pass-Through Transfer, the Company (a) with respect to such Mortgage
        Loan,
        shall not permit any modification with respect to such Mortgage Loan that
        would
        change the Mortgage Interest Rate and (b) shall not (unless the Mortgagor
        is in
        default with respect to such 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 such 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 subject to a Pass-Through
        Transfer, which is not contemplated under the terms of this Agreement, the
        Company will obtain an Opinion of Counsel acceptable to the trustee in such
        Pass-Through Transfer 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 Company shall not take any such
        actions 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 any REMIC. The Company 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.

      

      In
        servicing and administering the Mortgage Loans, the Company shall employ
        Accepted Servicing Practices, giving due consideration to the Purchaser's
        reliance on the Company. Unless a different time period is stated in this
        Agreement, Purchaser shall be deemed to have given consent in connection
        with a
        particular matter if Purchaser does not affirmatively grant or deny consent
        within five (5) Business Days from the date Purchaser receives a second written
        request for consent for such matter from Company as servicer. 

      
        
          
          

        

        
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      The
        Mortgage Loans may be subserviced by a Subservicer on behalf of the Company
        provided that the Subservicer is an entity that engages in the business of
        servicing loans, and in either case shall be authorized to transact business,
        and licensed to service mortgage loans, in the state or states where the
        related
        Mortgaged Properties it is to service are situated, if and to the extent
        required by applicable law to enable the Subservicer to perform its obligations
        hereunder and under the Subservicing Agreement, and in either case shall
        be a
        FHLMC or Fannie Mae approved mortgage 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 Fannie Mae or FHLMC,
        or
        which would require notification to Fannie Mae or FHLMC. In addition, each
        Subservicer will obtain and preserve its qualifications to do business as
        a
        foreign corporation and its licenses to service mortgage loans, in each
        jurisdiction in which such qualifications and/or licenses are or shall be
        necessary to protect the validity and enforceability of this Agreement, or
        any
        of the Mortgage Loans and to perform or cause to be performed its duties
        under
        the related Subservicing Agreement. 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.
        Company
        shall notify Purchaser promptly in writing upon the appointment of any
        Subservicer.

      

      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 4.13, 8.04, 9.01 or 10.01 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 effective as of the date
        of
        termination of the Company. 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. The Company will indemnify and hold Purchaser harmless from
        any
        loss, liability or expense arising out of its use of a Subservicer to perform
        any of its servicing duties, responsibilities and obligations
        hereunder.

      

      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.

      
        
          
          

        

        
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      Section
        4.02 Collection
        of Mortgage Loan Payments.

      

      Continuously
        from the date hereof until the date each Mortgage Loan ceases to be subject
        to
        this Agreement, the Company will proceed diligently 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, Accepted
        Servicing Practices, and the terms and provisions of any 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 Company will take special care in ascertaining and
        estimating annual escrow payments, and all other charges that, as provided
        in
        the Mortgage, will become due and payable, so that the installments payable
        by
        the Mortgagors will be sufficient to pay such charges as and when they become
        due and payable.

      

      In
        no
        event will the Company waive its right to any prepayment penalty or premium
        without the prior written consent of Purchaser and Company will use diligent
        efforts to collect same when due except as otherwise provided in the prepayment
        penalty rider to the Mortgage. 

      

      Section
        4.03 Realization
        Upon Defaulted Mortgage

      

      The
        Company shall use its best efforts, consistent with the procedures that the
        Company would use in servicing loans for its own account, consistent with
        Accepted Servicing Practices, any Primary Mortgage Insurance Policies and
        the
        best interest of Purchaser, 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. Foreclosure or
        comparable proceedings shall be initiated within ninety (90) days of default
        for
        Mortgaged Properties for which no satisfactory arrangements can be made for
        collection of delinquent payments, subject to state and federal law and
        regulation. The Company shall use its best efforts to realize upon defaulted
        Mortgage Loans in such manner as will maximize the receipt of principal and
        interest by the Purchaser, taking into account, among other things, the timing
        of foreclosure proceedings. The foregoing is subject to the provisions that,
        in
        any case in which a Mortgaged Property shall have suffered damage, the Company
        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
        Purchaser after reimbursement to itself for such expenses, and (ii) that
        such
        expenses will be recoverable by the Company through Insurance Proceeds or
        Liquidation Proceeds from the related Mortgaged Property, as contemplated
        in
        Section 4.05. Company shall obtain prior approval of Purchaser as to repair
        or
        restoration expenses in excess of ten thousand dollars ($10,000). The Company
        shall notify the Purchaser in writing of the commencement of foreclosure
        proceedings and not less than 5 days prior to the acceptance or rejection
        of any
        offer of reinstatement. The Company shall be responsible for all costs and
        expenses incurred by it in any such proceedings or functions; provided, however,
        that it shall be entitled to reimbursement thereof from the related 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 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 at the Purchaser's expense. 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. 

      
        
          
          

        

        
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      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any Mortgage Loan which
        becomes ninety (90 days or greater delinquent in payment of a scheduled Monthly
        Payment, without payment of any termination fee with respect thereto, provided
        that the Company shall on the date said termination takes effect be reimbursed
        for any unreimbursed advances of the Company's funds made pursuant to Section
        5.03 and any unreimbursed Servicing Advances and Servicing Fees in each case
        relating to the Mortgage Loan underlying such delinquent Mortgage Loan
        notwithstanding anything to the contrary set forth in Section 4.05. In the
        event
        of any such termination, the provisions of Section 11.01 hereof shall apply
        to
        said termination and the transfer of servicing responsibilities with respect
        to
        such delinquent Mortgage Loan to the Purchaser or its designee.

      

      In
        the
        event that a Mortgage Loan becomes part of a REMIC, and becomes REO Property,
        such property shall be disposed of by the Company, with the consent of Purchaser
        as required pursuant to this Agreement, before the close of the third taxable
        year following the taxable year in which the Mortgage Loan became an REO
        Property, unless the Company provides to the trustee under such REMIC an
        opinion
        of counsel to the effect that the holding of such REO Property subsequent
        to the
        close of the third taxable year following the taxable year in which the Mortgage
        Loan became an REO Property, will not result in the imposition of taxes on
        "prohibited transactions" as defined in Section 860F of the Code, or cause
        the
        transaction to fail to qualify as a REMIC at any time that certificates are
        outstanding. Company shall manage, conserve, protect and operate each such
        REO
        Property for the certificateholders solely for the purpose of its prompt
        disposition and sale in a manner which does not cause such property to fail
        to
        qualify as "foreclosure property" within the meaning of Section 860F(a)(2)(E)
        of
        the Code, or any "net income from foreclosure property" which is subject
        to
        taxation under the REMIC provisions of the Code. Pursuant to its efforts
        to sell
        such property, the Company shall either itself or through an agent selected
        by
        Company, protect and conserve such property in the same manner and to such
        an
        extent as is customary in the locality where such property is located.
        Additionally, Company shall perform the tax withholding and reporting related
        to
        Sections 1445 and 6050J of the Code.

      

      Section
        4.04 Establishment
        of Custodial Accounts; Deposits in Custodial Accounts.

      

      The
        Company 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. The
        Custodial Account shall be an Eligible Account. Funds
        deposited in the Custodial Account, which shall be deposited within 24 hours
        of
        receipt, shall at all times be insured by the FDIC up to the FDIC insurance
        limits, or must be invested in Permitted Investments for the benefit of the
        Purchaser. 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
        letter agreement in the form shown in Exhibit B hereto. The original of such
        letter agreement shall be furnished to the Purchaser on the Closing Date,
        and
        upon the request of any subsequent Purchaser.

      
        
          
          

        

        
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      The
        Company 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 Cut-off Date, or received by it prior to the Cut-off Date but allocable
        to a period subsequent thereto, other than in respect of principal and interest
        on the Mortgage Loans due on or before the Cut-off Date:

      

      (i) all
        payments on account of principal, including Principal Prepayments, on the
        Mortgage Loans;

      

      (ii)
         all
        payments on account of interest on the Mortgage Loans adjusted to the Mortgage
        Loan Remittance Rate;

      

      (iii)
         all
        Liquidation Proceeds;

      

      (iv)
         any
        amounts required to be deposited by the Company in connection with any REO
        Property pursuant to Section 4.13 and in connection therewith, the Company
        shall
        provide the Purchaser with written detail itemizing all of such
        amounts;

      

      (v)
         all
        Insurance Proceeds including amounts required to be deposited pursuant to
        Sections 4.08, 4.10 and 4.11, 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 Accepted Servicing Practices,
        the
        Mortgage Loan Documents or applicable law;

      

      (vi)
         all
        Condemnation Proceeds affecting any Mortgaged Property which are not released
        to
        the Mortgagor in accordance with Accepted Servicing Practices, the loan
        documents or applicable law;

      

      (vii)
         any
        Monthly Advances;

      

      (viii)
         with
        respect to each full or partial Principal Prepayment, any Prepayment Interest
        Shortfalls, to the extent of the Company’s aggregate Servicing Fee received with
        respect to the related Prepayment Period;

      

      (ix)
         any
        amounts required to be deposited by the Company pursuant to Section 4.10
        in
        connection with the deductible clause in any blanket hazard insurance policy,
        such deposit shall be made from the Company's own funds, without reimbursement
        therefor; and

      
        
          
          

        

        
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      (x)
         any
        amounts required to be deposited in the Custodial Account pursuant to Section
        4.01, 4.13 or 6.02.

      

      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 Company
        in
        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 (iv). The
        Purchaser shall not be responsible for any losses suffered with respect to
        investment of funds in the Custodial Account.

      

      

      Section
        4.05 Permitted
        Withdrawals From the Custodial Account.

      

      The
        Company may, from time to time, withdraw 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, 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 collections (net of the related Servicing
        Fees) of principal and/or interest respecting which any such advance was
        made,
        it being understood that, in the case of such reimbursement, the Company's
        right
        thereto shall be prior to the rights of the Purchaser, except that, where
        the
        Company is required to repurchase a Mortgage Loan, pursuant to Section 3.03,
        the
        Company's right to such reimbursement shall be subsequent to the payment
        to the
        Purchaser of the Repurchase Price pursuant to such Section 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 any unpaid Servicing
        Fees(or REO administration fees described in Section 4.13), the Company's
        right
        to reimburse itself pursuant to this subclause (iii) with respect to any
        Mortgage Loan being limited to related proceeds from Liquidation Proceeds,
        Condemnation Proceeds and Insurance Proceeds in accordance with the relevant
        provisions of the Fannie Mae Guides or as otherwise set forth in this Agreement;
        any recovery shall be made upon liquidation of the REO Property; 

      

      (iv) to
        pay to
        itself as part of its 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) the Servicing Fee from that portion of any
        payment or recovery as to interest with respect to a particular Mortgage
        Loan;

      
        
          
          

        

        
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      (v) to
        pay to
        itself with respect to each Mortgage Loan that has been repurchased pursuant
        to
        Section 3.03 all amounts received thereon and not distributed as of the date
        on
        which the related repurchase price is determined,

      

      (vi) to
        transfer funds to another Eligible Account in accordance with Section 4.09
        hereof;

      

      (vii) to
        remove
        funds inadvertently placed in the Custodial Account by the Company;
        and

      

      (vi) 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
        Company 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. The Escrow Account shall be an Eligible Account. Funds
        deposited in each Escrow Account shall at all times be insured in a manner
        to
        provide maximum insurance under the insurance limitations of the FDIC, or
        must
        be invested in Permitted Investments. 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
        letter agreement in the form shown in Exhibit C. The original of such letter
        agreement shall be furnished to the Purchaser on the Closing Date, and upon
        request to any subsequent purchaser.

      

      The
        Company shall deposit in the Escrow Account or Accounts on a daily basis,
        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
        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
        Company shall make withdrawals from the Escrow Account only to effect such
        payments as are required under this Agreement, and for such other purposes
        as
        shall be as set forth or in accordance with 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 and, to the extent required by law, the Company
        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.
        The
        Purchaser shall not be responsible for any losses suffered with respect to
        investment of funds in the Escrow Account.

      
        
          
          

        

        
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      Section
        4.07 Permitted
        Withdrawals From Escrow Account.

      

      Withdrawals
        from the Escrow Account may be made by Company only:

      

      (i) to
        effect
        timely payments of ground rents, taxes, assessments, water rates, Primary
        Mortgage Insurance Policy premiums, if applicable, fire and hazard insurance
        premiums, condominium assessments and comparable items;

      

      (ii) to
        reimburse Company for any Servicing Advance made by Company 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 accordance with the terms of this
        Agreement;

      

      (v) for
        application to restoration or repair of the Mortgaged Property;

      

      (vi) to
        pay to
        the Company, or to the 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. As
        part
        of its servicing duties, the Company shall pay to the Mortgagors interest on
        funds in 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;
        and

      

      (viii)
         to
        pay to
        the Mortgagors or other parties Insurance Proceeds deposited in accordance
        with
        Section 4.06.

      

      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 Company 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 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 Company 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 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 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.

      
        
          
          

        

        
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      The
        Company 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 terminated
        only
        with the approval of Purchaser, or as required by applicable law or regulation.
        The Company will not cancel or refuse to renew any Primary Mortgage Insurance
        Policy in effect on the Closing Date 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 Company 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 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 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 Company shall obtain a
        replacement Primary Mortgage Insurance 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
        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 Company 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
        Company may transfer the Custodial Account or the Escrow Account to a different
        Eligible Account from time to time. Such transfer shall be made only upon
        obtaining the prior written consent of the Purchaser, which consent will
        not be
        unreasonably withheld.

      
        
          
          

        

        
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      Section
        4.10 Maintenance
        of Hazard Insurance.

      

      The
        Company shall cause to be maintained for each Mortgage Loan fire and hazard
        insurance with extended coverage as is acceptable to Fannie Mae or FHLMC
        and
        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) an amount such that the proceeds thereof
        shall be sufficient to prevent the Mortgagor and/or the mortgagee from becoming
        a co-insurer. If required by the Flood Disaster Protection Act of 1973, as
        amended, each Mortgage Loan shall be covered by a flood insurance policy
        meeting
        the requirements of the current guidelines of the Federal Insurance
        Administration in effect with an insurance carrier acceptable to Fannie Mae
        or
        FHLMC, 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. 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. The Company shall also maintain on each 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, 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 Company 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 Accepted Servicing Practices, 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
        Company of the Mortgagor or maintained on property acquired in respect of
        the
        Mortgage Loan, other than pursuant to this Agreement, the Fannie Mae Guides
        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 Company
        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 Company. 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 Qualified Insurers.

      

      Section
        4.11 Maintenance
        of Mortgage Impairment Insurance Policy.

      

      In
        the
        event that the Company shall obtain and maintain a blanket policy issued
        by an
        insurer acceptable to Fannie Mae or FHLMC insuring against hazard losses
        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, it
        being
        understood and agreed that such policy may contain a deductible clause, in
        which
        case the Company shall, in the event that there shall not have been maintained
        on the related Mortgaged Property or REO Property a policy complying with
        Section 4.10, and there shall have been a loss which would have been covered
        by
        such policy, deposit in the Custodial Account the amount not otherwise payable
        under the blanket policy because of such deductible clause. In connection
        with
        its activities as servicer of the Mortgage Loans, the Company agrees to prepare
        and present, on behalf of the Purchaser, claims under any such blanket policy
        in
        a timely fashion in accordance with the terms of such policy. Upon request
        of
        the Purchaser, the Company shall cause to be delivered to the Purchaser a
        certified true copy of such policy and shall use its best efforts to obtain
        a
        statement from the insurer thereunder that such policy shall in no event
        be
        terminated or materially modified without thirty (30) days' prior written
        notice
        to the Purchaser.

      
        
          
          

        

        
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      Section
        4.12 Fidelity
        Bond, Errors and Omissions Insurance.

      

      The
        Company 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 Loan to handle funds, money, documents and papers
        relating to the Mortgage Loan. The Fidelity Bond 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 and fraud of such persons.
        The
        errors and omissions insurance shall protect and insure the Company against
        losses arising out of errors and omissions and negligent acts of such persons.
        Such errors and omissions insurance shall also protect and insure the Company
        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
        or errors and omissions insurance 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 at least equal to the
        corresponding amounts required by Fannie Mae in the Fannie Mae Guides. Upon
        request by the Purchaser, the Company shall deliver to the Purchaser 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 (30) days' prior
        written notice to the Purchaser. The Company shall notify the Purchaser within
        five (5) business days of receipt of notice that such Fidelity Bond or insurance
        policy will be, or has been, materially modified or terminated. The Purchaser
        (or any party having the status of Purchaser hereunder) and any subsidiary
        thereof and their 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. Upon request by Purchaser, Company shall provide
        Purchaser with an insurance certificate certifying coverage under this Section
        4.12, and will provide an update to such certificate upon request, or upon
        renewal or material modification of coverage.

      

      Section
        4.13 Title,
        Management and Disposition of REO Property.

      

      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 designee, or in the event the Purchaser or its
        designee 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
        an
        attorney duly licensed to practice law in the state where the REO Property
        is
        located. Any Person or Persons holding such title other than the Purchaser
        shall
        acknowledge in writing that such title is being held as nominee for the benefit
        of the Purchaser.

      
        
          
          

        

        
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      The
        Company shall notify the Purchaser in accordance with the Fannie Mae Guides
        of
        each acquisition of REO Property upon such acquisition (and, in any event,
        shall
        provide notice of the consummation of any foreclosure sale within three (3)
        Business Days of the date Company receives notice of such consummation),
        together with a copy of the drive by appraisal or brokers price opinion of
        the
        Mortgaged Property obtained in connection with such acquisition, and thereafter
        assume the responsibility for marketing such REO property in accordance with
        Accepted Servicing Practices. Thereafter, the Company shall continue to provide
        certain administrative services to the Purchaser relating to such REO Property
        as set forth in this Section 4.13. The fee for such administrative services
        shall be $2,000 to be paid upon liquidation of the REO Property. No Servicing
        Fee shall be assessed or otherwise accrue on any REO Property from and after
        the
        date on which it becomes an REO Property. 

      

      The
        Company shall, either itself or through an agent selected by the Company,
        and in
        accordance with the Fannie Mae Guides 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.
        The
        Company 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 required by the circumstances.
        The Company shall make or cause to be made a written report of each such
        inspection. Such reports shall be retained in the Mortgage File and copies
        thereof shall be forwarded by the Company to 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 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
        longer period than one (1) 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. No
        REO
        Property shall be marketed for less than the Appraised Value, without the
        prior
        consent of Purchaser. No REO Property shall be sold for less than ninety
        five
        percent (95%) of its Appraised Value, without the prior consent of Purchaser.
        All requests for reimbursement of Servicing Advances shall be in accordance
        with
        the Fannie Mae Guides. 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 (subject to the above
        conditions) only with the prior written consent of the Purchaser. Company
        shall
        provide monthly reports to Purchaser in reference to the status of the marketing
        of the REO Properties.

      
        
          
          

        

        
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      Notwithstanding
        anything to the contrary contained herein, the Purchaser may, at the Purchaser's
        sole option, terminate the Company as servicer of any such REO Property without
        payment of any termination fee with respect thereto, provided that the Company
        shall on the date said termination takes effect be reimbursed for any
        unreimbursed advances of the Company's funds made pursuant to Section 5.03
        and
        any unreimbursed Servicing Advances and Servicing Fees in each case relating
        to
        the Mortgage Loan underlying such REO Property notwithstanding anything to
        the
        contrary set forth in Section 4.05. In the event of any such termination,
        the
        provisions of Section 11.01 hereof shall apply to said termination and the
        transfer of servicing responsibilities with respect to such REO Property
        to the
        Purchaser or its designee. Within five Business Days of any such termination,
        the Company shall, if necessary convey such property to the Purchaser and
        shall
        further provide the Purchaser with the following information regarding the
        subject REO Property: the related drive by appraisal or brokers price opinion,
        and copies of any related Mortgage Impairment Insurance Policy claims. In
        addition, within five Business Days, the Company shall provide the Purchaser
        with the following information regarding the subject REO Property: the related
        trustee’s deed upon sale and copies of any related hazard insurance claims, or
        repair bids.

      

      Section
        4.14 Notification
        of Maturity Date.

      

      With
        respect to each Mortgage Loan, the Company shall execute and deliver to the
        Mortgagor any and all necessary notices required under applicable law and
        the
        terms of the related Mortgage Note and Mortgage regarding the maturity date
        if
        required under applicable law.

      

      ARTICLE
        V

      

      PAYMENTS
        TO THE PURCHASER

      

      Section
        5.01 Distributions.

      

      On
        each
        Remittance Date, the Company shall distribute by wire transfer of immediately
        available funds to the Purchaser (i) all amounts credited to the Custodial
        Account as of the close of business on the preceding Determination Date,
        net of
        charges against or withdrawals from the Custodial Account pursuant to Section
        4.05, plus (ii) all Monthly Advances, if any, which the Company is obligated
        to
        distribute pursuant to Section 5.03, plus, (iii) interest at the Mortgage
        Loan
        Remittance Rate on any Principal Prepayment from the date of such Principal
        Prepayment through the end of the month for which disbursement is made provided
        that the Company’s obligation as to payment of such interest shall be limited to
        the Servicing Fee earned during the month of the distribution, minus (i)
        any
        amounts attributable to Monthly Payments collected but due on a Due Date
        or
        Dates subsequent to the preceding Determination Date, which amounts shall
        be
        remitted on the Remittance Date next succeeding the Due Period for such amounts.
        It is understood that, by operation of Section 4.04, the remittance on the
        first
        Remittance Date with respect to Mortgage Loans purchased pursuant to this
        Agreement is to include principal collected after the Cut-off Date through
        the
        preceding Determination Date plus interest, adjusted to the Mortgage Loan
        Remittance Rate collected through such Determination Date exclusive of any
        portion thereof allocable to the period prior to the Cut-off Date, with the
        adjustments specified in clauses (ii), and (iii) above.

      

      With
        respect to any remittance received by the Purchaser after the Remittance
        Date,
        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 (3) 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. 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. On each Remittance Date, the Company shall provide a remittance
        report detailing all amounts being remitted pursuant to this Section
        5.01.

      
        
          
          

        

        
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      Section
        5.02 Statements
        to the Purchaser.

      

      The
        Company shall furnish to Purchaser an individual loan accounting report,
        as of
        the last Business Day of each month, in the Company's assigned loan number
        order
        to document Mortgage Loan payment activity on an individual Mortgage Loan
        basis.
        With respect to each month, the corresponding individual loan accounting
        report
        shall be received by the Purchaser no later than the fifth Business Day of
        the
        following month on a disk or tape or other computer-readable format in such
        format as may be mutually agreed upon by both Purchaser and Company, and
        no
        later than the fifth Business Day of the following month in hard copy, and
        shall
        contain the following:

      

      (i)
        With
        respect to 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 Monthly Payment, the amount of such remittance allocable
        to
        interest;

      

      (iii)
        the
        amount of servicing compensation received by the Company during the prior
        distribution period;

      

      (iv)
        the
        aggregate Stated Principal Balance of the Mortgage Loans;

      

      (v)
        the
        aggregate of any expenses reimbursed to the Company during the prior
        distribution period pursuant to Section 4.05; 

      

      (vi)
        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

      

      The
        Company shall also provide a trial balance, sorted in Purchaser's assigned
        loan
        number order, in the form of Exhibit E hereto, with each such
        Report.

      

      The
        Company shall prepare and file any and all information statements or other
        filings required to be delivered to any governmental taxing authority or
        to
        Purchaser pursuant to any applicable law with respect to the Mortgage Loans
        and
        the transactions contemplated hereby. In addition, the Company shall provide
        Purchaser with such information concerning the Mortgage Loans as is necessary
        for Purchaser to prepare its federal income tax return as Purchaser may
        reasonably request from time to time.

      
        
          
          

        

        
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      In
        addition, not more than sixty (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.

      

      Section
        5.03 Monthly
        Advances by the Company.

      

      Not
        later
        than the close of business on the Business Day preceding each Remittance
        Date,
        the Company shall deposit in the Custodial Account an amount equal to all
        payments not previously advanced by the Company, whether or not deferred
        pursuant to Section 4.01, of principal (due after the Cut-off Date) and interest
        not allocable to the period prior to the Cut-off Date, adjusted to the Mortgage
        Loan Remittance Rate, which were due on a Mortgage Loan and delinquent at
        the
        close of business on the related Determination 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 Remittance Date prior to the date on which
        the
        Mortgaged Property liquidates (including Insurance Proceeds, proceeds from
        the
        sale of REO Property or Condemnation Proceeds) with respect to the Mortgage
        Loan
        unless the Company deems such advance to be nonrecoverable. In such event,
        the
        Company shall deliver to the Purchaser an Officer's Certificate of the Company
        to the effect that an officer of the Company has reviewed the related Mortgage
        File and has made the reasonable determination that any additional advances
        are
        nonrecoverable. 

      

      Section
        5.04 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
        in a
        form mutually acceptable to Company and Purchaser. The Company shall also
        provide reports on the status of REO Property containing such information
        as
        Purchaser may reasonably require.

       

      
        
          
          

        

        
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      ARTICLE
        VI

      

      GENERAL
        SERVICING PROCEDURES

      

      Section
        6.01 Assumption
        Agreements.

      

      The
        Company will, to the extent it has knowledge of any conveyance or prospective
        conveyance by any Mortgagor of the 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 Company
        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 Company reasonably believes it is unable under applicable law to enforce
        such "due-on-sale" clause, the Company, with the approval of the Purchaser,
        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 Company, with the prior consent
        of
        the Purchaser and 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 Company
        shall follow the underwriting practices and procedures of the Company. With
        respect to an assumption or substitution of liability, the Mortgage Interest
        Rate borne by the related Mortgage Note, the amount of the Monthly Payment
        and
        the maturity date may not be changed (except pursuant to the terms of the
        Mortgage Note). 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. The Company shall notify the Purchaser that any such
        substitution of liability or assumption agreement has been completed by
        forwarding to the Purchaser the original of any such substitution of liability
        or assumption agreement, which document shall be added to the related Mortgage
        File and shall, for all purposes, be considered a part of such Mortgage File
        to
        the same extent as all other documents and instruments constituting a part
        thereof. All fees collected by the Company for entering into an assumption
        or
        substitution of liability agreement shall belong to the Company.

      

      Notwithstanding
        the foregoing paragraphs of this Section or any other provision of this
        Agreement, the Company 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 Company 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.

      
        
          
          

        

        
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      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 will immediately notify the Purchaser by a
        certification, which certification shall include a statement to the effect
        that
        all amounts received or to be received in connection with such payment which
        are
        required to be deposited in the Custodial Account pursuant to Section 4.04
        have
        been or will be so deposited, of a Servicing Officer and shall request delivery
        to it of the portion of the Mortgage File held by the Purchaser. The Purchaser
        shall no later than five Business Days after receipt of such certification
        and
        request, release or cause to be released to the Company, the related Mortgage
        Loan Documents and, upon its receipt of such documents, the Company shall
        promptly prepare and deliver to the Purchaser the requisite satisfaction
        or
        release. No later than five (5) Business Days following its receipt of such
        satisfaction or release, the Purchaser shall deliver, or cause to be delivered,
        to the Company the release or satisfaction properly executed by the owner
        of
        record of the applicable mortgage or its duly appointed attorney in fact.
        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 Company 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 Purchaser may have under the mortgage
        instruments, the Company, upon written demand, shall remit within two (2)
        Business Days to the Purchaser the then outstanding principal balance of
        the
        related Mortgage Loan by deposit thereof in the Custodial Account. The Company
        shall maintain the Fidelity Bond and errors and omissions insurance 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.

      

      From
        time
        to time and as appropriate for the servicing or foreclosure of the Mortgage
        Loan, including for the purpose of collection under any Primary Mortgage
        Insurance Policy, the Purchaser shall, upon request of the Company and delivery
        to the Purchaser of a servicing receipt signed by a Servicing Officer, release
        the portion of the Mortgage File held by the Purchaser to the Company. Such
        servicing receipt shall obligate the Company to return the related Mortgage
        documents to the Purchaser when the need therefor by the Company 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 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 Company
        has delivered to the Purchaser 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. Upon
        receipt of a certificate of a Servicing Officer stating that such Mortgage
        Loan
        was liquidated, the servicing receipt shall be released by the Purchaser
        to the
        Company.

      
        
          
          

        

        
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      Section
        6.03 Servicing
        Compensation.

      

      As
        compensation for its services hereunder, the Company shall be entitled to
        withdraw from the Custodial Account (to the extent of interest payments
        collected on the Mortgage Loans) or to retain from interest payments collected
        on the Mortgage Loans, the amounts provided for as the Company's Servicing
        Fee,
        subject to payment of compensating interest on Principal Prepayments as capped
        by the Servicing Fee pursuant to Section 5.01 (iii). Additional servicing
        compensation in the form of assumption fees, as provided in Section 6.01,
        and
        late payment charges or otherwise shall be retained by the Company to the
        extent
        not required to be deposited in the Custodial Account. No Servicing Fee shall
        be
        payable in connection with partial Monthly Payments. 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 therefor
        except
        as specifically provided for.

      

      Section
        6.04 Annual
        Statement as to Compliance.

      

      The
        Company will deliver to the Purchaser, to any master servicer which is master
        servicing any of the Mortgage Loans (each, a “Master Servicer”) and to any
        entity which is the depositor of the Mortgage Loans (each, a “Depositor”) not
        later than March 14 of each calendar year, beginning in March 2004 and 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 Securities Exchange Act
        of
        1934, as amended (the “Exchange Act”) and the rules and regulations of the
        Securities and Exchange Commission (the “Commission”), 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 Company during the preceding
        year and of performance under this Agreement has been made under such officers’
supervision and (ii) to the best of such officer’s knowledge, based on such
        review, the Company 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 (each such Officer’s Certificate, an “Annual Statement
        of Compliance”). 

      

      For
        so
        long as the Mortgage Loans are being master serviced by the Master Servicer,
        not
        later than March 14 of each calendar year, beginning in March 2004, and 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, 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), or at any other time upon thirty (30) days written request, an officer
        of
        the Company shall execute and deliver a separate Officer’s Certificate to each
        of the Master Servicer and to the Depositor for the benefit of such Master
        Servicer or Depositor, as applicable, and its officers, directors and
        affiliates, certifying as to the following matters:

      
        
          
          

        

        
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                (i)

              	
                Based
                  on my knowledge, the information in the Annual Statement as to
                  Compliance,
                  the Annual Independent Public Accountant’s Report (defined below) and all
                  servicing reports, officer’s certificates and other information relating
                  to the servicing of the Mortgage Loans submitted to the Master
                  Servicer
                  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 Master Servicer,
                  the
                  Depositor and the Purchaser by the Company under this Agreement
                  has been
                  provided to the Master Servicer;

              

      

      

      
        	 	
                (iii)

              	
                I
                  am responsible for reviewing the activities performed by the Company
                  under
                  this Agreement and based upon the review required by this Agreement,
                  and
                  except as disclosed in the Annual
                  Statement as to Compliance or the Annual Independent Public Accountant’s
                  Report submitted
                  to the Master Servicer, the Company has, as of the date of this
                  certification fulfilled its obligations under this Agreement;
                  and

              

      

      

      
        	 	
                (iv)

              	
                I
                  have disclosed to the Master Servicer all significant deficiencies
                  relating to the Company’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 this Section 6.04.

              

      

      

      Section
        6.05 Annual
        Independent Certified Public Accountants' Servicing Report.

      

      Not
        later
        than March 14 of each calendar year, beginning in March 2004 and 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, 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 Company at its expense shall cause a firm of independent public
        accountants (which may also render other services to the Company) which is
        a
        member of the American Institute of Certified Public Accountants to furnish
        a
        statement (each, an “Annual Independent Public Accountant’s Report”) to the
        Master Servicer and the Purchaser or its designee to the effect that such
        firm
        has examined certain documents and records relating to the servicing of the
        Mortgage Loans or of loans under a pooling and servicing agreements (including
        the related Mortgage Loans) substantially similar one to another (such statement
        to have attached thereto a schedule setting forth the pooling and servicing
        agreements covered thereby) 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 such pooling and servicing agreements 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. 

      
        
          
          

        

        
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      Section
        6.06 Purchaser's
        Right to Examine Company Records.

      

      The
        Purchaser shall have the right to examine and audit upon reasonable notice
        to
        the Company, 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 Company, or held by another for the Company or
        on
        its behalf or otherwise, which relates to the performance or observance by
        the
        Company of the terms, covenants or conditions of this Agreement.

      

      The
        Company shall provide to the Purchaser and any supervisory agents or examiners
        representing a state or federal governmental agency having jurisdiction over
        the
        Purchaser, including but not limited to OTS, FDIC and other similar entities,
        access to any documentation regarding the Mortgage Loans in the possession
        of
        the Company 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 Company, and in accordance with
        the
        federal government, FDIC, OTS, or any other similar regulations.

      

      Section
        6.07 Indemnification
        regarding Section 6.04 and Section 6.05.

      

      The
        Company shall indemnify and hold harmless the Master Servicer, the Depositor,
        the Purchaser, and their respective officers, directors, agents and affiliates,
        and such affiliates’ officers, directors and agents (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 Company or any
        of its
        officers, directors, agents or affiliates of its obligations under this letter
        agreement, or the negligence, bad faith or willful misconduct of the Company
        in
        connection therewith. If the indemnification provided for herein is unavailable
        or insufficient to hold harmless any Indemnified Party, then the Company
        agrees
        that it shall contribute to the amount paid or payable by such Indemnified
        Party
        as a result of the losses, claims, damages or liabilities of 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 in the other in connection
        with a breach of the Company’s obligations under this letter agreement, or the
        Company’s negligence, bad faith or willful misconduct in connection
        therewith.

      

      

      ARTICLE
        VII

      

      REPORTS
        TO BE PREPARED BY SERVICER

      

      Section
        7.01 Company
        Shall Provide Information as Reasonably Required.

      
        
          
          

        

        
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      The
        Company shall furnish to the Purchaser during the term of this Agreement,
        such
        periodic, special or other reports, information or documentation, whether
        or not
        provided for herein, as shall be necessary, reasonable or appropriate in
        respect
        to the Purchaser, or otherwise in respect to the Mortgage Loans and the
        performance of the Company under this Agreement, including any reports,
        information or documentation reasonably required to comply with any regulations
        regarding any supervisory agents or examiners of the Purchaser all such reports
        or information to be as provided by and in accordance with such applicable
        instructions and directions as the Purchaser may reasonably request in relation
        to this Agreement or the performance of the Company under this Agreement.
        The
        Company 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 purpose and to carry out the terms of this
        Agreement.

      

      In
        connection with marketing the Mortgage Loans, the Purchaser may make available
        to a prospective purchaser audited financial statements of the Company for
        the
        most recently completed two (2) fiscal years for which such statements are
        available, as well as a Consolidated Statement of Condition at the end of
        the
        last two (2) fiscal years covered by any Consolidated Statement of Operations.
        If it has not already done so, the Company shall furnish promptly to the
        Purchaser or a prospective purchaser copies of the statements specified
        above.

      

      The
        Company shall make reasonably available to the Purchaser or any prospective
        Purchaser a knowledgeable financial or accounting officer for the purpose
        of
        answering questions 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.

      
        
          
          

        

        
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      ARTICLE
        VIII

      

      THE
        SERVICER

      

      Section
        8.01 Indemnification;
        Third Party Claims.

      

      The
        Company agrees to indemnify the Purchaser and hold it harmless 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
        Purchaser may sustain in any way related to the failure of the Company to
        observe and perform its duties, obligations, covenants, and agreements to
        service the Mortgage Loans in strict compliance with the terms of this
        Agreement. The Company agrees to indemnify the Purchaser and hold it harmless
        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 Purchaser may sustain in any way related to the breach of a
        representation or warranty set forth in Sections 3.01 or 3.02 of this Agreement.
        The Company shall immediately notify the Purchaser if a claim is made by
        a third
        party against Company with respect to this Agreement or the Mortgage Loans,
        assume (with the consent of the Purchaser) the defense of any such claim
        and pay
        all expenses in connection therewith, including counsel fees, whether or
        not
        such claim is settled prior to judgment, 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
        shall
        promptly reimburse the Company for all amounts advanced by it pursuant to
        the
        two preceding sentences except when the claim relates to the failure of the
        Company to service and administer the Mortgages in strict compliance with
        the
        terms of this Agreement, the breach of representation or warranty set forth
        in
        Sections 3.01 or 3.02, or the gross negligence, bad faith or willful misconduct
        of Company. The provisions of this Section 8.01 shall survive termination
        of
        this Agreement.

      

      Section
        8.02 Merger
        or Consolidation of the Company.

      

      The
        Company 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 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
        whether or not related to loan servicing, 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 (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, and which
        is a
        HUD-approved mortgagee whose primary business is in origination and servicing
        of
        first lien mortgage loans, and (iii) who is a Fannie Mae or FHLMC approved
        seller/servicer in good standing.

      
        
          
          

        

        
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      Section
        8.03 Limitation
        on Liability of the Company and Others.

      

      Neither
        the Company nor any of the 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 made in good faith; 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
        liability which would otherwise be imposed by reason of negligence, bad faith
        or
        willful misconduct, or any breach of the terms and conditions of this Agreement.
        The Company and any 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
        the Purchaser 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 reasonable opinion may involve it in any
        expenses 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 reasonable legal expenses and costs of such action
        and any liability resulting therefrom shall be expenses, costs and liabilities
        for which the Purchaser will be liable, and the Company shall be entitled
        to be
        reimbursed therefor from the Purchaser upon written demand.

      

      Section
        8.04 Company
        Not to Assign or Resign.

      

      The
        Company shall not assign this Agreement or 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 11.01.

      

      Section
        8.05 No
        Transfer of Servicing.

      

      With
        respect to the retention of the Company to service the Mortgage Loans hereunder,
        the Company acknowledges that the Purchaser has acted in reliance upon the
        Company'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 Company 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 Purchaser,
        which
        consent shall be granted or withheld in the Purchaser's sole
        discretion.

      
        
          
          

        

        
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      Without
        in any way limiting the generality of this Section 8.05, in the event that
        the
        Company either shall assign this Agreement or the servicing responsibilities
        hereunder or delegate its duties hereunder or any portion thereof without
        (i)
        satisfying the requirements set forth herein or (ii) the prior written consent
        of the Purchaser, then the Purchaser shall have the right to terminate this
        Agreement, without any payment of any penalty or damages and without any
        liability whatsoever to the Company (other than with respect to accrued but
        unpaid Servicing Fees and Servicing Advances remaining unpaid) or any third
        party. 

      

       

      
        
          
          

        

        
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      ARTICLE
        IX

      

      DEFAULT

      

      Section
        9.01 Events
        of Default.

      

      In
        case
        one or more of the following Events of Default by the Company shall occur
        and be
        continuing, that is to say:

      

      (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 one
        (1) Business Day; or

      

      (ii)
        failure on the part of 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 which 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 Company by the Purchaser;
        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, marshalling 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 decree or order
        shall have remained in force undischarged or unstayed for a period of sixty
        days; or

      

      (iv)
        the
        Company 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 Company
        or
        of or relating to all or substantially all of its property; or

      

      (v)
        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
        or
        reorganization statute, make an assignment for the benefit of its creditors,
        or
        voluntarily suspend payment of its obligations; or

      

      (vi)
        Company ceases to be approved by either Fannie Mae or FHLMC as a mortgage
        loan
        seller or servicer for more than thirty days; or

      

      (vii)
        the
        Company attempts to assign its right to servicing compensation hereunder
        or the
        Company attempts, without the consent of the Purchaser, 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; or

      

      (viii)
        the Company ceases to be (a) licensed to service first lien residential mortgage
        loans in any jurisdiction in which a Mortgaged Property is located and such
        licensing is required, and (b) qualified to transact business in any
        jurisdiction where it is currently so qualified, but only to the extent such
        non-qualification materially and adversely affects the Company's ability
        to
        perform its obligations hereunder;

      
        
          
          

        

        
          59

          
            

          

        

        
          
          

        

      

      

      

      (ix) the
        Company fails to meet the eligibility criteria set forth in the last sentence
        of
        Section 8.02; or

      

      (x) the
        Company fails to duly perform, within the required time period, its obligations
        under either Section 6.04 or Section 6.05, 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
        Company
        by the Depositor, the Purchaser or by any Master Servicer.

      

      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 Company (except in the
        case
        of an Event of Default under clauses (iii), (iv), or (v) above, in which
        case,
        automatically and without notice, or under clause (x) above, in which case,
        automatically and without additional notice) Company may, in addition to
        whatever rights the Purchaser may have under Sections 3.03, 6.07 and 8.01
        and at
        law or equity or to damages, including injunctive relief and specific
        performance, terminate all the rights and obligations of the Company under
        this
        Agreement and in and to the Mortgage Loans and the proceeds thereof without
        compensating the Company for the same. On or after the receipt by the Company
        of
        such written notice (or, in the case of an Event of Default under clauses
        (iii),
        (iv) or (v) above, in which case, automatically and without notice, or under
        clause (x) above, in which case, automatically and without additional 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 11.01. Upon written request from
        the
        Purchaser, the Company shall prepare, execute and deliver, any and all documents
        and other instruments, place in such successor'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 Company's sole expense. The Company agrees to 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 or
        Escrow
        Account or thereafter received with respect to the Mortgage Loans or any
        REO
        Property.

      

      Section
        9.02 Waiver
        of Defaults.

      

      The
        Purchaser may waive only by written notice any default by the Company 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.

      
        
          
          

        

        
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      ARTICLE
        X

      

      TERMINATION

      

      Section
        10.01 Termination.

       

      The
        respective obligations and responsibilities of the Company shall terminate
        upon:
        (i) the later of the final payment or other liquidation (or any advance with
        respect thereto) of the last Mortgage Loan and the disposition of all remaining
        REO Property and the remittance of all funds due hereunder; or (ii) by mutual
        consent of the Company and the Purchaser in writing; or (iii) termination
        with
        cause under the terms of this Agreement.

      

      Section
        10.02 Termination
        Without Cause.

      

      The
        Purchaser may, at its sole option, terminate any rights the Company may have
        hereunder, without cause, upon no less than 90 days written notice. Any such
        notice of termination shall be in writing and delivered to the Company as
        provided in Section 11.05 of this Agreement. In the event of such termination,
        the Purchaser agrees to pay, as liquidated damages, a sum equal to two percent
        (2%) of the aggregate unpaid principal balance of the Mortgage
        Loans.

      

       

      ARTICLE
        XI

      

      MISCELLANEOUS
        PROVISIONS

      

      Section
        11.01 Successor
        to the Company.

      

      Prior
        to
        termination of Company's responsibilities and duties under this Agreement
        pursuant to Sections 4.13, 8.04, 9.01, 10.01 (ii) or (iii), 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 hereof 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 the
        Purchaser 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 Company 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 Company of the representations and warranties made pursuant
        to
        Sections 3.01, 3.02 and 3.03 and the remedies available to the Purchaser
        thereunder and under Section 8.01, 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 resignation or termination of the Company,
        or
        the termination of this Agreement.

      
        
          
          

        

        
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      Any
        successor appointed as provided herein shall execute, acknowledge and deliver
        to
        the Company 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 Company, with
        like
        effect as if originally named as a party to this Agreement. Any termination
        or
        resignation of the Company or this Agreement pursuant to Section 4.13, 8.04,
        9.01 or 10.01 shall not affect any claims that the Purchaser may have against
        the Company arising prior to any such termination or resignation.

      

      The
        Company shall promptly deliver to the successor the funds in the Custodial
        Account and the Escrow Account and the Mortgage Files and related documents
        and
        statements held by it hereunder and the Company shall account for all funds.
        The
        Company 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 Company. The successor shall make arrangements as it may
        deem
        appropriate to reimburse the Company for unrecovered Servicing Advances which
        the successor retains hereunder and which would otherwise have been recovered
        by
        the Company pursuant to this Agreement but for the appointment of the successor
        servicer.

      

      Upon
        a
        successor's acceptance of appointment as such, the Company shall notify by
        mail
        the Purchaser of such appointment.

      

      Section
        11.02 Amendment.

      

      This
        Agreement may be amended from time to time by the Company and the Purchaser
        by
        written agreement signed by the Company and the Purchaser.

      
        
          
          

        

        
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      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 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 Company at the Company's
        expense on direction of the Purchaser accompanied by an opinion of counsel
        to
        the effect that such recordation materially and beneficially affects the
        interest of the Purchaser or is necessary for the administration or servicing
        of
        the Mortgage Loans.

      

      Section
        11.04 Governing
        Law.

      

      This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York except to the extent preempted by Federal law. 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 certified mail, return receipt requested, or transmitted by
        telex,
        telegraph or telecopier and confirmed by a similar mailed writing, as
        follows:

      

      
        	
              	(i)	
                if
                  to the Company:

              

      

       

      US
        Bank,
        NA

      1550
        East
        79th
        Street

      Bloomington,
        MN 55425

      Attn:
        Cheikh Faye

      (952)
        851-8269

      

      With
        a
        copy to:

      

      US
        Bank,
        NA

      4801
        Frederica Street

      Owensboro,
        KY 42303

      Attn:
        Robert Smiley

      (270)
        689-7271

       

      
        
          
          

        

        
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              	(ii)	
                if
                  to the Purchaser:

              

      

       

      EMC
        Mortgage Corporation 

      Mac
        Arthur Ridge II, 

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        Texas 75038

      Attention:
        Ms. Ralene Ruyle

      Telecopier
        No.: (972) 444-2880

      

      With
        a
        copy to:

      

      Bear
        Stearns Mortgage Capital Corporation

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Baron Silverstein

      

      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
        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 that 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:

      
        
          
          

        

        
          64

          
            

          

        

        
          
          

        

      

      

      

      (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; 

      

      (vi)
         the
        term
        "include" or "including" shall mean without limitation by reason of enumeration;
        and

      

      (viii)
         headings
        of the Articles and Sections in this Agreement are for reference purposes
        only
        and shall not be deemed to have any substantive effect.

      

      Section
        11.09 Reproduction
        of Documents.

      

      This
        Agreement and all documents relating thereto, 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. 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 the Agreement, provided
        that each party may provide confidential information to its employees, agents
        and affiliates who have a need to know such information in order to effectuate
        the transaction, provided further that such information is identified as
        confidential non-public information. In addition, confidential information
        may
        be provided to a regulatory authority with supervisory power over Purchaser,
        provided such information is identified as confidential non-public
        information.

      
        
          
          

        

        
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      Section
        11.11 Recordation
        of Assignments of Mortgage.

      

      To
        the
        extent permitted by applicable law, each of the Assignments 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 and 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
        11.12 Assignment
        by Purchaser.

      

      The
        Purchaser shall have the right subject to Section 2.06 of this Agreement,
        without the consent of the Company, 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 and Assumption Agreement substantially in the form
        of
        Exhibit D hereto and the assignee or designee shall accede to the rights
        and
        obligations hereunder of the Purchaser with respect to such Mortgage Loans.
        In
        no event shall Purchaser sell a partial interest in any Mortgage Loan without
        the written consent of Company, which consent shall not be unreasonably denied.
        All references to the Purchaser in this Agreement shall be deemed to include
        its
        assignee or designee. 

      

      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 Company
        shall
        be rendered as an independent contractor and not as agent for
        Purchaser.

      

      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 Company and the Purchaser and their
        respective successors and assigns.

      

      Section
        11.15 Entire
        Agreement.

      

      The
        Company acknowledges that no representations, agreements or promises were
        made
        to the Company by the Purchaser or any of its employees other than those
        representations, agreements or promises specifically contained herein and
        in the
        Confirmation. The Confirmation and this Agreement sets forth the entire
        understanding between the parties hereto; provided, however, only this Agreement
        shall be binding upon all successors of both parties. In the event of any
        inconsistency between the Confirmation and this Agreement, this Agreement
        shall
        control.

      
        
          
          

        

        
          66

          
            

          

        

        
          
          

        

      

      

      

      Section
        11.16. No
        Solicitation.

      

      From
        and
        after the Closing Date, the Company agrees that it will not take any action
        or
        permit or cause any action to be taken by any of its agents or affiliates,
        to
        personally, by telephone or mail, solicit the borrower or obligor under any
        Mortgage Loan to refinance the Mortgage Loan, in whole or in part, without
        the
        prior written consent of the Purchaser. Notwithstanding the foregoing, it
        is
        understood and agreed that (i) promotions undertaken by the Company or any
        affiliate of the Company which are directed to the general public at large,
        or
        segments thereof, provided that no segment shall consist primarily of the
        Mortgage Loans, including, without limitation, mass mailing based on
        commercially acquired mailing lists, newspaper, radio and television
        advertisements and (ii) responses to unsolicited requests or inquiries made
        by a
        Mortgagor or an agent of a Mortgagor, shall not constitute solicitation under
        this Section 11.16. This Section 11.16 shall not be deemed to preclude the
        Company or any of its affiliates from soliciting any Mortgagor for any other
        financial products or services. From and after the Closing Date, the Purchaser
        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
        the Purchaser’s behalf, to personally by telephone or mail, solicit the borrower
        or obligor under any Mortgage Loan to refinance the Mortgage Loan, in whole
        or
        in part, without the prior written consent of the Company,. In addition,
        the
        Purchaser or any of its affiliates shall not solicit any Mortgagor for any
        other
        financial products or services. Notwithstanding the foregoing, it is understood
        and agreed that (i) promotions undertaken by the Purchaser or any affiliate
        of
        the Purchaser which are directed to the general public at large, or segments
        thereof, provided that no segment shall consist primarily of the Mortgage
        Loans,
        including, without limitation, mass mailing based on commercially acquired
        mailing lists, newspaper, radio and television advertisements and (ii) responses
        to unsolicited requests or inquiries made by a Mortgagor or an agent of a
        Mortgagor, shall not constitute solicitation under this Section 11.16 The
        Company shall use its best efforts to prevent the sale of the name of any
        Mortgagor to any Person who is not affiliate of the Company.

      

      Section
        11.17. Closing.

      

      The
        closing for the purchase and sale of the Mortgage Loans shall take place
        on the
        related Closing Date. 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 for the Mortgage Loans to be purchased on the related Closing Date
        shall
        be subject to each of the following conditions:

      

      (a) at
        least
        one (1) Business Day prior to the related Closing Date, the Company shall
        deliver to the Purchaser a magnetic diskette, or transmit by modem, a listing
        on
        a loan-level basis of the information contained in the related Mortgage Loan
        Schedule attached as Exhibit I to this Agreement;

      
        
          
          

        

        
          67

          
            

          

        

        
          
          

        

      

      

      (b) all
        of
        the representations and warranties of the Company under this Agreement shall
        be
        materially true and correct as of the related Closing Date and no event shall
        have occurred which, with notice or the passage of time, would constitute
        a
        material default under this Agreement;

      

      (c) the
        Purchaser shall have received, or the Purchaser's attorneys shall have received
        in escrow, all documents required pursuant to this Agreement, an opinion
        of
        counsel and an officer's certificate, all 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 terms hereof;

      

      (d) the
        Company shall have delivered and released to the Purchaser (or its designee)
        on
        or prior to the related Closing Date all documents required pursuant to the
        terms of this Agreement; and

      

      (e) all
        other
        terms and conditions of this Agreement and the Confirmation shall have been
        materially complied with.

      

      Subject
        to the foregoing conditions, the Purchaser shall pay to the Company on the
        related Closing Date the Purchase Price, plus accrued interest pursuant to
        Section 2.02 of this Agreement, by wire transfer of immediately available
        funds
        to the account designated by the Company.

      

      Section
        11.18. Cooperation
        of Company with a Reconstitution.

      

      The
        Company and the Purchaser 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 Purchaser's sole option, the Purchaser may
        effect
        a sale (each, a "Reconstitution") of some or all of the Mortgage Loans then
        subject to this Agreement, without recourse, to:

      

      (a) 
        one or
        more third party purchasers in one or more in whole loan transfers (each,
        a
        "Whole Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more pass-through
        transfers (each, a "Pass-Through Transfer").

      

      The
        Company agrees to execute in connection with any agreements among the Purchaser,
        the Company, and any servicer in connection with a Whole Loan Transfer, an
        Assignment, Assumption and Recognition Agreement substantially in the form
        of
        Exhibit D hereto, or, at Purchaser’s request, a seller's warranties and
        servicing agreement or a participation and servicing agreement or similar
        agreement in form and substance reasonably acceptable to the parties, and
        in
        connection with a Pass-Through Transfer, a pooling and servicing agreement
        in
        form and substance reasonably acceptable to the parties, (collectively the
        agreements referred to herein are designated, the "Reconstitution Agreements").
        It is understood that any such Reconstitution Agreements will not contain
        any
        greater obligations on the part of Company than are contained in this
        Agreement.

      
        
          
          

        

        
          68

          
            

          

        

        
          
          

        

      

      

      

      With
        respect to each Whole Loan Transfer and each Pass-Through Transfer entered
        into
        by the Purchaser, the Company agrees (1) to cooperate fully with the Purchaser
        and any prospective purchaser with respect to all reasonable requests and
        due
        diligence procedures; (2) to execute, deliver and perform all Reconstitution
        Agreements required by the Purchaser; (3) to restate the representations
        and
        warranties set forth in this Agreement as of the settlement or closing date
        in
        connection with such Reconstitution (each, a "Reconstitution Date"). In that
        connection, the Company shall provide to such servicer or issuer, as the
        case
        may be, and any other participants in such Reconstitution: (i) any and all
        information (including servicing portfolio information) and appropriate
        verification of information (including servicing portfolio information) which
        may be reasonably available to the Company, whether through letters of its
        auditors and counsel or otherwise, as the Purchaser or any such other
        participant shall request upon reasonable demand; and (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 agreed upon by the Company and the Purchaser or any such other
        participant. In connection with each Pass-Through Transfer, the Company agrees
        to provide reasonable and customary indemnification to the Purchaser and
        its
        affiliates for disclosure contained in any offering document relating to
        the
        Company or its affiliates, the Mortgage Loans and the underwriting standards
        of
        the Mortgage Loans. The Purchaser shall be responsible for the costs relating
        to
        the delivery of such 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
        with respect thereto this Agreement shall remain in full force and
        effect.

      

      Section
        11.18. Third
        Party Beneficiary.

      

      Any
        Master Servicer shall be considered a third party beneficiary to this Agreement
        and any Reconstitution Agreements, entitled to all the rights and benefits
        accruing to any Master Servicer herein as if it were a direct party to this
        Agreement or such Reconstitution Agreements.

      
        
          
          

        

        
          69

          
            

          

        

        
          
          

        

      

      

      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

              
	 	 
	 	
                By:_____________________________

              
	 	
                Name:
                  

              
	 	
                Title:
                  

              
	 	 
	 	
                US
                  BANK, NA 

              
	 	
                Company

              
	 	 
	 	
                By:
                  ____________________________

              
	 	
                Name:

              
	 	
                Title:

              

      

      

      
        
          
          

        

        
          70

          
            

          

        

        
          
          

        

      

      

      EXHIBIT
        A-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,
        and
        which shall be retained by the Company in the Servicing File or delivered
        to the
        Purchaser or its designee pursuant to Sections 2.04 and 2.05 of the Purchase,
        Warranties and Servicing Agreement.

      

      If
        the
        Company chooses to use facsimile signatures to endorse Mortgage Notes, the
        Company must provide in an officer's certificate that the endorsement is
        valid
        and enforceable in the jurisdiction(s) in which the Mortgaged Properties
        are
        located and must retain in its corporate records the following specific
        documentation authorizing the use of facsimile signatures: (i) a resolution
        from
        its board of directors authorizing specific officers to use facsimile
        signatures; stating that facsimile signatures will be a valid and binding
        act on
        the Company's part; and authorizing the Company's corporate secretary to
        certify
        the validity of the resolution, the names of the officers authorized to execute
        documents by using facsimile signatures, and the authenticity of specimen
        forms
        of facsimile signatures; (ii) the corporate secretary's certification of
        the
        authenticity and validity of the board of directors' resolution; and (iii)
        a
        notarized "certification of facsimile signature," which includes both the
        facsimile and the original signatures of the signing officer(s) and each
        officer's certification that the facsimile is a true and correct copy of
        his or
        her original signature.

      

      1.
        The
        original Mortgage Note endorsed "Pay to the order of
        ____________________________________________________, without recourse,"
        and
        signed via original signature in the name of the Company by an authorized
        officer, with all intervening endorsements showing a complete chain of title
        from the originator to the Company, together with any applicable riders.
        If the
        Mortgage Loan was acquired by the Company in a merger, the endorsement must
        be
        by "[Company], successor by merger to the [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 "[Company] formerly known
        as
        [previous name]". Mortgage Notes may be in the form of a lost note affidavit
        subject to Purchaser acceptability. 

      

      2.
        The
        original Mortgage (together with a standard adjustable rate mortgage rider)
        with
        evidence of recording thereon, or a copy thereof certified by the public
        recording office in which such mortgage has been recorded or, if the original
        Mortgage has not been returned from the applicable public recording office,
        a
        true certified copy, certified by the Company.

      

      3.
        The
        original or certified copy, certified by the Company, of the Primary Mortgage
        Insurance Policy, if required.

      

      4. The
        original Assignment, from the Company to _____________________________________,
        or in accordance with Purchaser's instructions, which assignment shall, but
        for
        any blanks requested by Purchaser, be in form and substance acceptable for
        recording. If the Mortgage Loan was acquired or originated by the Company
        while
        doing business under another name, the Assignment must be by "[Company] formerly
        known as [previous name]". If the Mortgage Loan was acquired by the Company
        in a
        merger, the endorsement must be by "[Company], successor by merger to the
        [name
        of predecessor]". None of the Assignments are blanket assignments of
        mortgage.

      
        
          
          

        

        
          71

          
            

          

        

        
          
          

        

      

      

      

      5. The
        original policy of title insurance, including riders and endorsements thereto,
        or if the policy has not yet been issued, a written commitment or interim
        binder
        or preliminary report of title issued by the title insurance or escrow
        company.

      

      6. Originals
        of all recorded intervening Assignments, or copies thereof, certified by
        the
        public recording office in which such Assignments have been recorded showing
        a
        complete chain of title from the originator to the Company, with evidence
        of
        recording thereon, or a copy thereof certified by the public recording office
        in
        which such Assignment has been recorded or, if the original Assignment has
        not
        been returned from the applicable public recording office, a true certified
        copy, certified by the Company.

      

      7. Originals,
        or copies thereof certified by the public recording office in which such
        documents have been recorded, of each assumption, extension, modification,
        written assurance or substitution agreements, if applicable, or if the original
        of such document has not been returned from the applicable public recording
        office, a true certified copy, certified by the Company. 

      

      8. If
        the
        Mortgage Note or Mortgage or any other material document or instrument relating
        to the Mortgage Loan has been signed by a person on behalf of the Mortgagor,
        the
        original or copy of power of attorney or other instrument that authorized
        and
        empowered such person to sign bearing evidence that such instrument has been
        recorded, if so required in the appropriate jurisdiction where the Mortgaged
        Property is located, or a copy thereof certified by the public recording
        office
        in which such instrument has been recorded or, if the original instrument
        has
        not been returned from the applicable public recording office, a true certified
        copy, certified by the Company.

      

      9. reserved.

      

      Notwithstanding
        anything to the contrary herein, Company may provide one certificate for
        all of
        the Mortgage Loans indicating that the documents were delivered for
        recording.

      
        
          
          

        

        
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      EXHIBIT
        A-2

      CONTENTS
        OF SERVICING FILE

      

      With
        respect to each Mortgage Loan, the Servicing File may include each of the
        following items, and copies of the Mortgage Loan Documents listed on Exhibit
        A-1, which shall be available for inspection by the Purchaser or delivered
        to
        the Purchaser or its designee pursuant to Sections 2.04 and 2.05 of the
        Purchase, Warranties and Servicing Agreement.

      

      1. Mortgage
        Loan closing statement (Form HUD-1) and any other truth-in-lending or real
        estate settlement procedure forms required by law.

      

      2.
        Residential loan application.

      

      3. Uniform
        underwriter and transmittal summary (Fannie Mae Form 1008) or reasonable
        equivalent.

      

      4. Credit
        report on the mortgagor.

      

      5. Business
        credit report, if applicable.

      

      6. Residential
        appraisal report and attachments thereto.

      

      7. The
        original of any guarantee executed in connection with the Mortgage
        Note.

      

      8. Verification
        of employment and income except for Mortgage Loans originated under a limited
        documentation program, all in accordance with Company's underwriting
        guidelines.

      

      9. Verification
        of acceptable evidence of source and amount of down payment, in accordance
        with
        Company's underwriting guidelines.

      

      10. Photograph
        of the Mortgaged Property (may be part of appraisal).

      

      11. Survey
        of
        the Mortgaged Property, if any.

      

      12. Sales
        contract, if applicable.

      

      13. If
        available, termite report, structural engineer’s report, water portability and
        septic certification.

      

      14. Any
        original security agreement, chattel mortgage or equivalent executed in
        connection with the Mortgage.

      

      15. Name
        affidavit, if applicable.

      
        
          
          

        

        
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      EXHIBIT
        B

      

      CUSTODIAL
        ACCOUNT LETTER AGREEMENT

      

      ______________,
        2003

      

      To: [_______________________]
        

      (the
        "Depository")

      

      As
        "Company" under the Purchase, Warranties and Servicing Agreement, dated as
        of
        [_____________________] 1, 2003 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
        "[______________________________________], in trust for the [Purchaser],
        Owner
        of Adjustable Rate Mortgage Loans". All deposits in the account shall be
        subject
        to withdrawal therefrom by order signed by the Company. 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.

      

      
        	 	
                [___________________________]

              
	 	
                By:____________________________

              
	 	
                Name:__________________________

              
	 	
                Title:___________________________

              

      

      
        
          
          

        

        
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      EXHIBIT
        C

      

      ESCROW
        ACCOUNT LETTER AGREEMENT

      _____________,
        2003

      

      To:[_______________________]

      (the
        "Depository")

      

      As
        “Company” under the Purchase Warranties and Servicing Agreement, dated as of
        [____________________]1, 2003 Adjustable Rate Mortgage Loans (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
        "[__________________________], in trust for the [Purchaser], Owner of Adjustable
        Rate Mortgage Loans, and various Mortgagors." All deposits in the account
        shall
        be subject to withdrawal therefrom by order signed by the Company. 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.

      

      
        	 	
                [______________________]

              
	 	 
	 	
                By:______________________________

              
	 	
                Name:____________________________

              
	 	
                Title:_____________________________

              

      

      
        
          
          

        

        
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      EXHIBIT
        D

      

      FORM
        OF
        ASSIGNMENT, ASSUMPTION AND RECOGNITION AGREEMENT

      

      This
        is a
        Purchase, Assignment, Assumption and Recognition Agreement (this “PAAR
        Agreement”) made as of __________, 200__, among EMC Mortgage Corporation (the
“Assignor”), ___________________ (the “Assignee”), and _______________________
        (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 the Purchase, Warranties
        and
        Servicing Agreement, dated as of _________, 200__, between Assignor and Company
        (the “Purchase Agreement”) shall be subject to the terms of this PAAR Agreement.
        Capitalized terms used herein but not defined shall have the meanings ascribed
        to them in the Purchase Agreement.

      

      Purchase,
        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 Purchase
        Agreement.

      

      2.Simultaneously
        with the execution hereof, (i) Assignee shall pay to Assignor the “Funding
        Amount” as set forth in that certain letter agreement, dated as of _________
        ____, between Assignee and Assignor (the “Confirmation”) and (ii) Assignor, at
        its expense, shall have caused to be delivered to Assignee or its designee
        the
        Mortgage File for each Assigned Loan in Assignor's or its custodian's
        possession, as set forth in the Purchase Agreement, along with, for each
        Assigned Loan, an endorsement of the Mortgage Note from the applicable Company,
        in blank, and an assignment of mortgage in recordable form from the applicable
        Company, in blank. Assignee shall pay the Funding Amount by wire transfer
        of
        immediately available funds to the account specified by Assignor. Assignee
        shall
        be entitled to all scheduled payments due on the Assigned Loans after
        ___________, 200__ and all unscheduled payments or other proceeds or other
        recoveries on the Assigned Loans received on and after _____________,
        200__.

      

      Representations,
        Warranties and Covenants

      

      3.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 Purchase 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;

      
        
          
          

        

        
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      (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 Purchase 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 Purchase 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 Purchase 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 PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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;
        

      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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and

      

      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.

      
        
          
          

        

        
          77

          
            

          

        

        
          
          

        

      

      

      

      4.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
        acquire, own and purchase the Assigned Loans;

      

      (b)Assignee
        has full corporate power and authority to execute, deliver and perform its
        obligations under this PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 PAAR 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 PAAR 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 PAAR Agreement, or the consummation by it of the transactions
        contemplated hereby; and 

      

      (d)Assignee
        agrees to be bound as “Purchaser” by all of the terms, covenants and conditions
        of the Purchase Agreement with respect to the Assigned Loans, and from and
        after
        the date hereof, Assignee assumes for the benefit of each of Assignor and
        Company all of Assignor's obligations as “Purchaser” thereunder but solely with
        respect to such Assigned Loans.

      

      5.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 Purchase 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; 

      
        
          
          

        

        
          78

          
            

          

        

        
          
          

        

      

      

      

      (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 Purchase Agreement;

      

      Company
        has full corporate power and authority to execute, deliver and perform its
        obligations under this PAAR Agreement, and to consummate the transactions
        set
        forth herein. The consummation of the transactions contemplated by this PAAR
        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 charter 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 PAAR 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 PAAR 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;

      

      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 Company
        of
        this PAAR Agreement, or the consummation by it of the transactions contemplated
        hereby; and

      

      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 the Company in Sections
        3.01
        and 3.02 of the Purchase Agreement to be untrue in any material
        respect.

      

      Recognition
        of Assignee

      

      6.From
        and after the date hereof, Company shall recognize Assignee as owner of the
        Assigned Loans and will service the Assigned Loans in accordance with the
        Purchase Agreement. It is the intention of Assignor, Company and Assignee
        that
        this PAAR 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, waiver, or otherwise alter any of the terms
        or
        provisions of the Purchase Agreement which amendment, modification, waiver
        or
        other alteration would in any way affect the Assigned Loans without the prior
        written consent of Assignee.

      

      

      Miscellaneous

      
        
          
          

        

        
          79

          
            

          

        

        
          
          

        

      

      

      

      7.All
        demands, notices and communications related to the Assigned Loans, the Purchase
        Agreement and this PAAR 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,

              

      

      

      ____________________

      ____________________

      ____________________

      ____________________

      ____________________

      With
        a
        copy to    
______________________________________.

      

      In
        the
        case of Assignor,

      

      ____________________

      ____________________

      ____________________

      ____________________

      ____________________

      

      
        	
              	(c)	
                In
                  the case of Assignee,

              

      

      

      EMC
        Mortgage Corporation 

      Mac
        Arthur Ridge II 

      909
        Hidden Ridge Drive, Suite 200

      Irving,
        Texas 75038

      Attention:
        Ms. Ralene Ruyle

      Telecopier
        No.: (972) 444-2880

      

      with
        a
        copy to:

      

      ___________________

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        ___________

      Telecopier
        No.: (212) 272-____

      

      8.
        Each
        party will pay any commissions it has incurred and the fees of its attorneys
        in
        connection with the negotiations for, documenting of and closing of the
        transactions contemplated by this PAAR Agreement. 

      
        
          
          

        

        
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      9.This
        PAAR 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.

      

      10.No
        term or provision of this PAAR 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.

      

      11.This
        PAAR 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.

      

      12.This
        PAAR Agreement shall survive the conveyance of the Assigned Loans, the
        assignment of the Purchase Agreement to the extent of the Assigned Loans
        by
        Assignor to Assignee and the termination of the Purchase Agreement.

      

      13.This
        PAAR 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.

      

      14.In
        the
        event that any provision of this PAAR Agreement conflicts with any provision
        of
        the Purchase Agreement with respect to the Assigned Loans, the terms of this
        PAAR Agreement shall control. In the event that any provision of this PAAR
        Agreement conflicts with any provision of the Confirmation with respect to
        the
        Assigned Loans, the terms of this PAAR Agreement shall control.

      

      

      [Modification
        of Purchase Agreement

      

      The
        Company and Assignor hereby amend the Purchase Agreement as
        follows:

      

      (a)The
        following definitions are added to Section 1.01 of the Purchase
        Agreement:

      

      Securities
        Administrator: 
        ________________________

      

      Supplemental
        PMI Insurer:________________________

      

      Supplemental
        PMI Policy:The
        primary guarantee insurance policy of the Supplemental PMI Insurer attached
        hereto as Exhibit J, or any successor Supplemental PMI Policy given to the
        Servicer by the Assignee.

      

      Trustee:
        ________________________

      

      (b)The
        following definition is amended and restated:

      
        
          
          

        

        
          81

          
            

          

        

        
          
          

        

      

      

      

      Insurance
        Proceeds:Proceeds
        of any Primary Mortgage Insurance Policy, the Supplemental PMI Policy, any
        title
        policy, any hazard insurance policy or any other insurance policy covering
        a
        Mortgage Loan or other related Mortgaged Property, including any amounts
        required to be deposited in the Custodial Account pursuant to Section 4.04,
        to
        the extent such proceeds are not to be applied to the restoration of the
        related
        Mortgaged Property or released to the Mortgagor in accordance with Accepted
        Servicing Practices.

      

      (c)The
        following are added as the fourth, fifth and sixth paragraphs of Section
        4.08:

      

      “In
        connection with its activities as servicer, the Company agrees to prepare
        and
        present, on behalf of itself and the Purchaser, claims to the Supplemental
        PMI
        Insurer with respect to the Supplemental PMI Policy and, in this regard,
        to take
        such action as shall be necessary to permit recovery under any Supplemental
        PMI
        Policy respecting a defaulted Mortgage Loan. Pursuant to Section 4.04, any
        amounts collected by the Company under any Supplemental PMI Policy shall
        be
        deposited in the Custodial Account, subject to withdrawal pursuant to Section
        4.05.

      

      In
        accordance with the Supplemental PMI Policy, the Company shall provide to
        the
        Supplemental PMI Insurer any required information regarding the Mortgage
        Loans.

      

      The
        Company shall provide to the [Securities Administrator] on a monthly basis
        via
        computer tape, or other mutually acceptable format, the unpaid principal
        balance, insurer certificate number, lender loan number, and premium due
        the
        Supplemental PMI Insurer for each Mortgage Loan covered by the Supplemental
        PMI
        Policy. In addition, the Company agrees to forward to the Purchaser and the
        [Securities Administrator] any statements or other reports given by the
        Supplemental PMI Insurer to the Servicer in connection with a claim under
        the
        Supplemental PMI Policy.”

      

      (d)
        Clause (vi) of Section 6.1 is amended to read as follows:

      

      “Company
        ceases to be approved by either Fannie Mae or FHLMC as a mortgage loan seller
        or
        servicer for more than thirty days, or the Company fails to meet the servicer
        eligibility requirements of the Supplemental PMI Insurer; or”]

      

      
        
          
          

        

        
          82

          
            

          

        

        
          
          

        

      

      IN
        WITNESS WHEREOF, the parties hereto have executed this PAAR Agreement as
        of the
        day and year first above written.

      

      EMC
        MORTGAGE CORPORATION

      Assignor

      

      By:

      Name:

      Title:

      

      

      _________________________________

      Assignee

      

      By:

      Name:

      Title:

      

      

      _________________________________

      Company

      

      By:

      Name:

      Title:

      

      

      
        
          
          

        

        
          83

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        1

      

      ASSIGNED
        LOAN SCHEDULE

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      ATTACHMENT
        2

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        E

      

      FORM
        OF
        TRIAL BALANCE

      

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        G

      

      REQUEST
        FOR RELEASE OF DOCUMENTS AND RECEIPT

      

      RE:Mortgage
        Loan #___________________________________

      BORROWER:__________________________________________________

      PROPERTY:
        __________________________________________________

      

      

      Pursuant
        to a Purchase, Warranties and Servicing Agreement (the "Agreement") between
        the
        Company and the Purchaser, the undersigned hereby certifies that he or she
        is an
        officer of the Company requesting release of the documents for the reason
        specified below. The undersigned further certifies that:

      

      (Check
        one of the items below)

      

      _____On
        _________________, the above captioned mortgage loan was paid in full or
        that
        the Company has been notified that payment in full has been or will be escrowed.
        The Company hereby certifies that all amounts with respect to this loan which
        are required under the Agreement have been or will be deposited in the Custodial
        Account as required.

      

      _____The
        above captioned loan is being repurchased pursuant to the terms of the
        Agreement. The Company hereby certifies that the repurchase price has been
        credited to the Custodial Account as required under the Agreement.

      

      _____The
        above captioned loan is being placed in foreclosure and the original documents
        are required to proceed with the foreclosure action. The Company hereby
        certifiesthat the documents will be returned to the Purchaser in the event
        of
        reinstatement.

      

      _____Other
        (explain)

      

      _______________________________________________________

      _______________________________________________________

      

      All
        capitalized terms used herein and not defined shall have the meanings assigned
        to them in the Agreement.

      

      Based
        on
        this certification and the indemnities provided for in the Agreement, please
        release to the Company all original mortgage documents in your possession
        relating to this loan.

      

      Dated:_________________

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

      By:________________________________

      Signature

      ___________________________________

      Title

      

      Send
        documents to:_____________________________________________

      _____________________________________________

      _____________________________________________

      

      Acknowledgement:

      

      Purchaser
        hereby acknowledges that all original documents previously released on the
        above
        captioned mortgage loan have been returned and received by the
        Purchaser.

      

      

      Dated:________________

      

      By:________________________________

      Signature

      

      _______________________________

      Title

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

      

      EXHIBIT
        H

      

      COMPANY’S
        UNDERWRITING GUIDELINES

      

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

       

      EXHIBIT
        I

      

      MORTGAGE
        LOAN SCHEDULE

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

      AMENDMENT
        NUMBER ONE

      to
        the

      

      PURCHASE,
        WARRANTIES AND SERVICING AGREEMENT

      

      Dated
        as
        of January 1, 2006

      

      between

      

      EMC
        MORTGAGE CORPORATION, 

      as
        Purchaser

      

      and

      

      US
        BANK,
        NA,

      as
        Company

      

      This
        AMENDMENT NUMBER ONE (this “Amendment”) is made and entered into this
        1st
        day of
        January, 2006, by and between EMC Mortgage Corporation, a Delaware corporation,
        as purchaser (the “Purchaser”) and US Bank, NA, as company (the “Company”) in
        connection with the Purchase, Warranties and Servicing Agreement, dated as
        of
        March 1, 2003, 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.

      

      

      
        
          
            
            

          

          
            1

            
              

            

          

          
            
            

          

        

      

      

      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 documents.

      

      Nonrecoverable
        Advance:
        Any
        portion of a Monthly Advance or Servicing Advance previously made or proposed
        to
        be made by the Company pursuant to this Agreement, that, in the good faith
        judgment of the Company, will not or, in the case of a proposed advance,
        would
        not, be ultimately recoverable by it from the related Mortgagor or the related
        Liquidation Proceeds, Insurance Proceeds, Condemnation Proceeds or otherwise
        with respect to the related Mortgage Loan.

      

      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.

      

      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.

      

      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
        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.

      

      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.

      

      

      
        
          
            
            

          

          
            2

            
              

            

          

          
            
            

          

        

      

      

      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 L for convenience of
        reference only. In the event of a conflict or inconsistency between the terms
        of
        Exhibit L 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 L).

      

      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 Company or a Subservicer.
        

      

      Third-Party
        Originator:
        Each
        Person, other than a Qualified Correspondent, that originated Mortgage Loans
        acquired by the Company.

      

      3. Article
        I
        of the Agreement is hereby amended effective as of the date hereof by deleting
        the definition of Subservicer in Section 1.01 and replacing it with the
        following: 

       

      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.

      

      

      
        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

      

      

      4. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        revising Section 3.01(n) as follows (new text underlined):

       

      (n) Company
        has delivered to the Purchaser financial statements of its parent, for its
        last
        two complete fiscal years. All such financial information fairly presents
        the
        pertinent results of operations and financial position for the period identified
        and has been prepared in accordance with GAAP consistently applied throughout
        the periods involved, except as set forth in the notes thereto. There has
        been
        no change in the servicing
        policies and procedures,
        business, operations, financial condition, properties or assets of the Company
        since the date of the Company’s financial information that would have a material
        adverse effect on its ability to perform its obligations under this
        Agreement;

      

      5. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(o):

       

      (o) As
        of the
        date of each Pass-Through Transfer, and except as has been otherwise disclosed
        to the Purchaser, any Master Servicer and any Depositor: (1) no default or
        servicing related performance trigger has occurred as to any other
        securitization due to any act or failure to act of the Company; (2) no material
        noncompliance with applicable servicing criteria as to any other securitization
        has been disclosed or reported by the Company; (3) 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; (4) no material changes to the Company’s servicing policies and
        procedures for similar loans has occurred in the preceding three years; (5)
        there are no aspects of the Company’s financial condition that could have a
        material adverse impact on the performance by the Company of its obligations
        hereunder; (6) there are no legal proceedings pending, or known to be
        contemplated by governmental authorities, against the Company 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
        Company of a type that are described under Item 1119 of Regulation
        AB.

      

      6. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(p):

       

      (p) If
        so
        requested by the Purchaser or any Depositor on any date, the Company shall,
        within five Business Days following such request, confirm in writing the
        accuracy of the representations and warranties set forth in Section 3.01(o)
        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.

      

      7. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(q):

       

      (q) Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        each Subservicer and Third-Party Originator to) (i) immediately notify the
        Purchaser, any Master Servicer and any Depositor in writing of (A) any material
        litigation or governmental proceedings pending against the Company, any
        Subservicer or any Third-Party Originator, (B) any affiliations or relationships
        that develop following the closing date of a Pass-Through Transfer between
        the
        Company, any Subservicer or any Third-Party Originator and any of the parties
        specified in clause (7) of paragraph (o) of this Section (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 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.

      

      

      
        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

      

      

      All
        notification pursuant to this Section 3.01(q), other than those pursuant
        to
        Section 3.01(q)(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(q)(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

      

      
        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

      

      

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

      

      8. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.01(r):

       

      (r) 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, 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 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.

      

      9. Article
        III of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 3.02(zz):

       

      (zz) With
        respect to each Mortgage Loan, information regarding the borrower credit
        files
        related to such Mortgage Loan has been furnished to credit reporting agencies
        in
        compliance with the provisions of the Fair Credit Reporting Act and the
        applicable implementing regulations.

      

      10. Article
        IV of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following after the first sentence in 4.01:

       

      In
        addition, the Company 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.

       

      11. Article
        IV of the Agreement is hereby amended effective as of the date hereof by
        deleting in its entirety the last paragraph of Section 4.02 and replacing
        it
        with the following:

       

      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.

      

      

      
        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

      

      

      12. 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 Company will
        use
        delinquency recognition policies as described to and approved by the Purchaser,
        and shall revise these policies as requested by the Purchaser from time to
        time.

      

      13. 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 Purchaser.

      

      The
        Company shall furnish to Purchaser an individual loan accounting report,
        as of
        the last Business Day of each month, in the Company's assigned loan number
        order
        to document Mortgage Loan payment activity on an individual Mortgage Loan
        basis.
        With respect to each month, the corresponding individual loan accounting
        report
        shall be received by the Purchaser no later than the fifth Business Day of
        the
        following month on a disk or tape or other computer-readable format in such
        format as may be mutually agreed upon by both Purchaser and Company, and
        no
        later than the fifth Business Day of the following month in hard copy, and
        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 Company 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;

      

      

      
        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

      

      

      (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 Company in accordance with Section 4.04(viii) during the prior
        distribution period; 

      

      (viii) the
        beginning and ending balances of the Custodial Account and Escrow
        Account;

      

      (ix) the
        number of Mortgage Loans as of the first day of the distribution period and
        the
        last day of the distribution period; 

      

      (x) 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;

      

      (xi) with
        respect to each Mortgage Loan, the amount and severity of any realized loss
        following liquidation of such Mortgage Loan; 

      

      (xii) with
        respect to each Mortgage Loan, and in the aggregate for all Mortgage Loans,
        the
        amount of any Monthly Advances made by the Company during the prior distribution
        period; 

      

      (xiii) with
        respect to each Mortgage Loan, a description of any Servicing Advances made
        by
        the Company with respect to such Mortgage Loan including the amount, terms
        and
        general purpose of such Servicing Advances, and the aggregate amount of
        Servicing Advances for all Mortgage Loans during the prior distribution
        period;

      

      (xiv) with
        respect to each Mortgage Loan, a description of any Nonrecoverable Advances
        made
        by the Company 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;

      

      (xv) with
        respect to each Mortgage Loan, a description of any Monthly Advances, Servicing
        Advances and Nonrecoverable Advances reimbursed to the Company 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 Company for all Mortgage Loans during the prior distribution
        period pursuant to Section 4.05; 

      

      (xvi) 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;

      

      

      
        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

      

      

      (xvii) 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;

      

      (xviii) with
        respect to each Mortgage Loan, the Stated Principal Balance of any substitute
        Mortgage Loan provided by the Company 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;

      

      (xix) with
        respect to each Mortgage Loan, the Stated Principal Balance of any Mortgage
        Loan
        that has been repurchased by the Company in accordance with Section 3.03
        herein.

      

      In
        addition, the Company shall provide to the Purchaser such other information
        known or available to the Company 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 Purchaser
        in
        its sole discretion. The Company shall also provide a monthly report, in
        the
        form of Exhibit E hereto, or such other form as is mutually acceptable to
        the
        Company, the Purchaser and any Master Servicer, Exhibit F with respect to
        defaulted mortgage loans and Exhibit O, with respect to realized losses and
        gains, with each such report. 

      

      The
        Company shall prepare and file any and all information statements or other
        filings required to be delivered to any governmental taxing authority or
        to
        Purchaser pursuant to any applicable law with respect to the Mortgage Loans
        and
        the transactions contemplated hereby. In addition, the Company shall provide
        Purchaser with such information concerning the Mortgage Loans as is necessary
        for Purchaser to prepare its federal income tax return as Purchaser may
        reasonably request from time to time.

      

      In
        addition, not more than sixty (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.

      

      14. 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
        Company will deliver to the Purchaser and any Master Servicer, not later
        than
        March 1st of each calendar year beginning in 2007, an Officers’ Certificate
        acceptable to the Purchaser (an “Annual Statement of Compliance”) stating, as to
        each signatory thereof, that (i) a review of the activities of the Company
        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 Company 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. Copies
        of
        such statement shall be provided by the Company to the Purchaser upon request
        and by the Purchaser to any Person identified as a prospective purchaser
        of the
        Mortgage Loans. In the event that the Company has delegated any servicing
        responsibilities with respect to the Mortgage Loans to a Subservicer, the
        Company shall deliver an officer’s certificate (an “Annual Certification”) of
        the Subservicer as described above as to each Subservicer as and when required
        with respect to the Company.

      

      

      
        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

      

      

      (b) With
        respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
        by March 1st of each calendar year beginning in 2007, an officer of the Company
        shall execute and deliver an Annual Certification to the Purchaser, 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 K. In the
        event that the Company has delegated any servicing responsibilities with
        respect
        to the Mortgage Loans to a Subservicer, the Company shall deliver an Annual
        Certification of the Subservicer as described above as to each Subservicer
        as
        and when required with respect to the Company.

      

      (c) If
        the
        Company cannot deliver the related Annual Statement of Compliance or Annual
        Certification by March 1st of such year, the Purchaser, at its sole option,
        may
        permit a cure period for the Company to deliver such Annual Statement of
        Compliance or Annual Certification, but in no event later than March 10th
        of
        such year.

      

      Failure
        of the Company to timely comply with this Section 6.04 shall be deemed an
        Event
        of Default, automatically, without notice and without any cure period, unless
        otherwise agreed to by the Purchaser as set forth in Section 6.04(c) and
        Purchaser may, in addition to whatever rights the Purchaser may have under
        Sections 3.03 and 8.01 and at law or equity or to damages, including injunctive
        relief and specific performance, terminate all the rights and obligations
        of the
        Company under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Company 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 supercede any other provision in
        this
        Agreement or any other agreement to the contrary.

      

      15. 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].

      

      16. Article
        VI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 6.08:

       

      Section
        6.08 Assessment
        of Compliance with Servicing Criteria.

      

      On
        and
        after January 1, 2006, the Company 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.

      

      

      
        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

      

      

      With
        respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
        the Company shall deliver to the Purchaser or its designee, any Master Servicer
        and any Depositor on or before March 1st of each calendar year beginning
        in
        2007, a report (an “Assessment of Compliance”) reasonably satisfactory to the
        Purchaser, any Master Servicer and any Depositor regarding the Company’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,
        which as of the date hereof, require a report by an authorized officer of
        the
        Company that contains the following:

      

      (a) A
        statement by such officer of its responsibility for assessing compliance
        with
        the Servicing Criteria applicable to the Company;

      

      (b) A
        statement by such officer that such officer used the Servicing Criteria to
        assess compliance with the Servicing Criteria applicable to the
        Company;

      

      (c) An
        assessment by such officer of the Company’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
        it
        performs with respect to asset-backed securities transactions taken as a
        whole
        involving the Company, 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 Company’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 Company, which statement shall be based on the activities it performs
        with
        respect to asset-backed securities transactions taken as a whole involving
        the
        Company, 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 a
        certification substantially in the form of Exhibit N hereto delivered to
        the
        Purchaser concurrently with the execution of this Agreement.

      

      With
        respect to any Mortgage Loans that are the subject of a Pass-Through Transfer,
        on or before March 1st of each calendar year beginning in 2007, the Company
        shall furnish to the Purchaser or its designee, any Master Servicer and any
        Depositor a report (an “Attestation Report”) by a registered public accounting
        firm that attests to, and reports on, the Assessment of Compliance made by
        the
        Company, 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 Company Accounting Oversight Board.
        

      

      

      
        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

      

      

      The
        Company shall cause each Subservicer, and each Subcontractor determined by
        the
        Company 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
        Purchaser, any Master Servicer and any Depositor an assessment of compliance
        and
        accountants’ attestation as and when provided in Sections 6.08.

      

      If
        the
        Company cannot deliver the related Assessment of Compliance or Attestation
        Report by March 1st of such year, the Purchaser, at its sole option, may
        permit
        a cure period for the Company to deliver such Assessment of Compliance or
        Attestation Report, but in no event later than March 10th of such
        year.

      

      Failure
        of the Company to timely comply with this Section 6.08 shall be deemed an
        Event
        of Default, automatically, without notice and without any cure period, unless
        otherwise agreed to by the Purchaser as described herein, and Purchaser may,
        in
        addition to whatever rights the Purchaser may have under Sections 3.03 and
        8.01
        and at law or equity or to damages, including injunctive relief and specific
        performance, terminate all the rights and obligations of the Company under
        this
        Agreement and in and to the Mortgage Loans and the proceeds thereof without
        compensating the Company 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 supercede any other provision in this Agreement
        or any other agreement to the contrary.

      

      17. 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 Intent
        of the Parties; Reasonableness.

      

      The
        Purchaser and the Company acknowledge and agree that a purpose of Sections
        3.01(o), 5.02, 6.04, 6.08 and 11.18 of this Agreement is to facilitate
        compliance by the Purchaser and any Depositor with the provisions of Regulation
        AB and related rules and regulations of the Commission. None of the Purchaser,
        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
        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 Pass-Through Transfer, 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.

      

      

      
        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

      

      

      18. Article
        IX of the Agreements is hereby amended effective as of the date hereof by
        deleting Section 9.01(x).

       

      19. 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:

       

      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 Company (except in the
        case
        of an Event of Default under clauses (iii), (iv) or (v) above, or as otherwise
        stated herein, in which case, automatically and without notice) may, in addition
        to whatever rights the Purchaser may have under Sections 3.03, 6.07 and 8.01
        and
        at law or equity or to damages, including injunctive relief and specific
        performance, terminate all the rights and obligations of the Company (and
        if the
        Company 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 Company for the
        same.

       

      20. 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
        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.

       

      21. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        restating Section 11.18 in its entirety as follows:

       

      Section
        11.18. Cooperation
        of Company with a Reconstitution.

      

      The
        Company and the Purchaser 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 Purchaser's sole option, the Purchaser may
        effect
        a sale (each, a "Reconstitution") of some or all of the Mortgage Loans then
        subject to this Agreement, without recourse, to:

      

      (a) one
        or
        more third party purchasers in one or more in whole loan transfers (each,
        a
        "Whole Loan Transfer"); or

      

      (b) one
        or
        more trusts or other entities to be formed as part of one or more Pass-Through
        Transfers.

      

      

      
        
          
            
            

          

          
            13

            
              

            

          

          
            
            

          

        

      

      

      The
        Company agrees to execute in connection with any agreements among the Purchaser,
        the Company, and any servicer in connection with a Whole Loan Transfer, an
        Assignment, Assumption and Recognition Agreement substantially in the form
        of
        Exhibit D hereto, or, at Purchaser’s request, a seller's warranties and
        servicing agreement or a participation and servicing agreement or similar
        agreement in form and substance reasonably acceptable to the parties, and
        in
        connection with a Pass-Through Transfer, a pooling and servicing agreement
        in
        form and substance reasonably acceptable to the parties, (collectively the
        agreements referred to herein are designated, the “Reconstitution Agreements”).
        It is understood that any such Reconstitution Agreements will not contain
        any
        greater obligations on the part of Company than are contained in this Agreement.
        Notwithstanding anything to the contrary in this Section 11.18, the Company
        agrees that it is required to perform the obligations described in Exhibit
        J
        hereto.

      

      With
        respect to each Whole Loan Transfer and each Pass-Through Transfer entered
        into
        by the Purchaser, the Company agrees (1) to cooperate fully with the Purchaser
        and any prospective purchaser with respect to all reasonable requests and
        due
        diligence procedures; (2) to execute, deliver and perform all Reconstitution
        Agreements required by the Purchaser; (3) to restate the representations
        and
        warranties set forth in this Agreement as of the settlement or closing date
        in
        connection with such Reconstitution (each, a "Reconstitution Date").

      

      In
        addition, the Company shall provide to such servicer or issuer, as the case
        may
        be, and any other participants in such Reconstitution: 

      

      (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 or any such other participant shall
        request upon reasonable demand; 

      

      (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 agreed upon by the Company and the Purchaser or any such
        other
        participant;

      

      (iii) within
        5
        Business Days after request by the Purchaser, the information with respect
        to
        the Company (as originator) and each Third-Party Originator of the Mortgage
        Loans as required under Item 1110(a) and (b) of Regulation AB, a summary
        of the
        requirements of which has of the date hereof is attached hereto as Exhibit
        M for
        convenience of reference only, as determined by Purchaser in its sole
        discretion. If requested by the Purchaser, this will include information
        about
        the applicable credit-granting or underwriting criteria;

      

      (iv) within
        5
        Business Days after request by the Purchaser, 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 (i) the Company, if the Company is an originator of Mortgage
        Loans
        (including as an acquirer of Mortgage Loans from a Qualified Correspondent),
        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)(1)-(3)
        and (c) 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;

      

      
        
          
            
            

          

          
            14

            
              

            

          

          
            
            

          

        

      

      

      

      (v) within
        5
        Business Days after request by the Purchaser, information with respect to
        the
        Company (as servicer) as required by Item 1108(b) and (c) of Regulation AB,
        a
        summary of the requirements of which as of the date hereof is attached hereto
        as
        Exhibit M for convenience of reference only, as determined by Purchaser in
        its
        sole discretion. In the event that the Company has delegated any servicing
        responsibilities with respect to the Mortgage Loans to a Subservicer, the
        Company shall provide the information required pursuant to this clause with
        respect to the Subservicer;

      

      (vi) within
        5
        Business Days after request by the Purchaser, 

      (a)
        information regarding any legal proceedings pending (or known to be
        contemplated) against the Company (as originator and as servicer) and each
        other
        originator of the Mortgage Loans and each Subservicer as required by Item
        1117
        of Regulation AB, a summary of the requirements of which as of the date hereof
        is attached hereto as Exhibit M for convenience of reference only, as determined
        by Purchaser in its sole discretion,

      (b)
        information regarding affiliations with respect to the Company (as originator
        and as servicer) and each other originator of the Mortgage Loans and each
        Subservicer as required by Item 1119(a) of Regulation AB, a summary of the
        requirements of which as of the date hereof is attached hereto as Exhibit
        M for
        convenience of reference only, as determined by Purchaser in its sole
        discretion, and

      (c)
        information regarding relationships and transactions with respect to the
        Company
        (as originator and as servicer) and each other originator of the Mortgage
        Loans
        and each Subservicer as required by Item 1119(b) and (c) of Regulation AB,
        a
        summary of the requirements of which as of the date hereof is attached hereto
        as
        Exhibit M for convenience of reference only, as determined by Purchaser in
        its
        sole discretion; 

      

      (vii) if
        so
        requested by the Purchaser, 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, or to any financial information included in any
        other disclosure provided under this Section 11.18, 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 Pass-Through Transfer. 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;

      

      
        
          
            
            

          

          
            15

            
              

            

          

          
            
            

          

        

      

      

      

      (viii)
        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) (i) 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 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 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; 

      

      (ix)
        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, 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 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
        its reporting obligation under Item 6.02 of Form 8-K with respect to any
        class
        of asset-backed securities; 

      

      (x)
        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):

      

      

      
        
          
            
            

          

          
            16

            
              

            

          

          
            
            

          

        

      

      

      (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

      

      (xi)
        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.

      

      In
        the
        event of a conflict or inconsistency between the terms of Exhibit M and the
        text
        of the applicable Item of Regulation AB as cited above, the text of Regulation
        AB, its adopting release and other public statements of the SEC shall
        control.

      

      The
        Company shall indemnify the Purchaser, each affiliate of the Purchaser, 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”), 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 this Section 11.18 by or on behalf of the Company,
        or
        provided under this Section 11.18 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;

      

      

      
        
          
            
            

          

          
            17

            
              

            

          

          
            
            

          

        

      

      

      (ii)
        any
        breach by the Company of its obligations under this Section 11.18, 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 Section
        11.18, including any failure by the Company to identify pursuant to Section
        11.19 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
        3.01
        or in a writing furnished pursuant to Section 3.01(p) and made as of a date
        prior to the closing date of the related Pass-Through Transfer, 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
        3.01(p) 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 11.18.

      

      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 above, 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.

      

      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.

      

      

      
        
          
            
            

          

          
            18

            
              

            

          

          
            
            

          

        

      

      

      22. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 11.19:

       

      Section
        11.19. Use
        of
        Subservicers and Subcontractors.

      

      (a) 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 (b) of this Section. 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 (d) of this Section. 

      

      (b) 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 3.01(o), 3.01(r), 6.04, 6.08 and 11.18
        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
        3.01(q) of this Agreement. The Company shall be responsible for obtaining
        from
        each Subservicer and delivering to the Purchaser, 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 6.07 and
        any
        Annual Certification required under Section 6.04(b) as and when required
        to be
        delivered.

      

      (c) 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, 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, (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 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 6.08 and 11.18 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 Report and the other certificates required to be delivered by
        such
        Subservicer and such Subcontractor under Section 6.08, in each case as and
        when
        required to be delivered.

      

      

      
        
          
            
            

          

          
            19

            
              

            

          

          
            
            

          

        

      

      

      23. Article
        XI of the Agreement is hereby amended effective as of the date hereof by
        adding
        the following new Section 11.20:

       

      Section
        11.20. 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.

      

      24. 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

              

      

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

       

      
        	
                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

              	
                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan.

              	 	
                Action
                  Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                  65=Repurchase,70=REO

              	
                2

              
	
                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

              

      

       

      

      
        
          
            
            

          

          
            21

            
              

            

          

          
            
            

          

        

      

      

      25. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit F:

       

      EXHIBIT
        F

       

      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

              

      

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

       

      
        	
                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 ($)

              

      

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

       

      
        	
                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

                

        

         

        
          
            
            

          

          
            24

            
              

            

          

          
            
            

          

        

         

        
          	 	
                  ·

                	
                  Good

                
	 	
                  ·

                	
                  Poor

                
	 	
                  ·

                	
                  Special
                    Hazard

                
	 	
                  ·

                	
                  Unknown

                

        

      

       

      
        
          
            
            

          

          
            25

            
              

            

          

          
            
            

          

        

      

      

      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

              

      

      

      

      
        
          
            
            

          

          
            26

            
              

            

          

          
            
            

          

        

      

       

      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

              

      

       

      

      26. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit J:

       

      EXHIBIT
        J

      

      COMPANY’S
        OBLIGATIONS IN CONNECTION 

      WITH
        A
        RECONSTITUTION

      

      
        	 	
                ·

              	
                The
                  Company shall (i) possess the ability to service to a securitization
                  documents; (ii) service on a “Scheduled/Scheduled” reporting basis
                  (advancing through the liquidation of an REO Property), (iii) make
                  compensating interest payments on payoffs and curtailments and
                  (iv) remit
                  and report to a master servicer in format acceptable to such master
                  servicer by the 10th
                  calendar day of each month.

              

      

      

      
        	 	
                ·

              	
                The
                  Company shall provide an acceptable annual certification (officer’s
                  certificate) to the master servicer (as required by the Sarbanes-Oxley
                  Act
                  of 2002) as well as any other annual certifications required under
                  the
                  securitization documents (i.e. the annual statement as to
                  compliance/annual independent certified public accountants’ servicing
                  report due by March 1st of each
                  year).

              

      

      

      

      
        
          
            
            

          

          
            27

            
              

            

          

          
            
            

          

        

      

      

      
        	 	
                ·

              	
                The
                  Company shall allow for the Purchaser, the master servicer or their
                  designee to perform a review of audited financials and net worth
                  of the
                  Company.

              

      

      

      
        	 	
                ·

              	
                The
                  Company shall provide a Uniform Single Attestation Program certificate
                  and
                  Management Assertion as requested by the master servicer or the
                  Purchaser.

              

      

      

      
        	 	
                ·

              	
                The
                  Company shall provide information on each Custodial Account as
                  requested
                  by the master servicer or the Purchaser, and each Custodial Accounts
                  shall
                  comply with the requirements for such accounts as set forth in
                  the
                  securitization documents.

              

      

      

      
        	 	
                ·

              	
                The
                  Company shall maintain its servicing system in accordance with
                  the
                  requirements of the master
                  servicer.

              

      

      

      27. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit K:

       

      

      EXHIBIT
        K

      

      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”);

      

      

      
        
          
            
            

          

          
            28

            
              

            

          

          
            
            

          

        

      

      

      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.

      

      28. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit L:

       

      

      EXHIBIT
        L

      

      SUMMARY
        OF REGULATION AB

      SERVICING
        CRITERIA

      

      NOTE:
        This Exhibit L is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit L and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

      

      Item
        1122(d)

       

      
        	 	
                (a)

              	
                General
                  servicing considerations.

              

      

       

      (1) Policies
        and procedures are instituted to monitor any performance or other triggers
        and
        events of default in accordance with the transaction agreements.

       

      (2) 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.

      

      
        
          
            
            

          

          
            29

            
              

            

          

          
            
            

          

        

      

       

      (3) Any
        requirements in the transaction agreements to maintain a back-up servicer
        for
        the mortgage loans are maintained.

       

      (4) 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.

       

      
        	 	
                (b)

              	
                Cash
                  collection and administration.

              

      

       

      (1) 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.

       

      (2) Disbursements
        made via wire transfer on behalf of an obligor or
        to an
        investor are made only by authorized personnel.

       

      (3) 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.

       

      (4) 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.

       

      (5) 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.

       

      (6) Unissued
        checks are safeguarded so as to prevent unauthorized access.

       

      (7) 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.

       

      
        	 	
                (c)

              	
                Investor
                  remittances and reporting.

              

      

       

      (1) 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.

      

      
        
          
            
            

          

          
            30

            
              

            

          

          
            
            

          

        

      

       

      (2) Amounts
        due to investors are allocated and remitted in accordance with timeframes,
        distribution priority and other terms set forth in the transaction
        agreements.

       

      (3) 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.

       

      (4) Amounts
        remitted to investors per the investor reports agree with cancelled checks,
        or
        other form of payment, or custodial bank statements.

       

      
        	 	
                (d)

              	
                Mortgage
                  Loan administration.

              

      

       

      (1) Collateral
        or security on mortgage loans is maintained as required by the transaction
        agreements or related mortgage loan documents.

       

      (2) Mortgage
        loan and related documents are safeguarded as required by the transaction
        agreements.

       

      (3) 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.

       

      (4) 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.

       

      (5) The
        Servicer’s records regarding the mortgage loans agree with the Servicer’s
        records with respect to an obligor’s unpaid principal balance.

       

      (6) 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 mortgage
        loan documents.

       

      (7) 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.

       

      (8) 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).

      

      
        
          
            
            

          

          
            31

            
              

            

          

          
            
            

          

        

      

       

      (9) Adjustments
        to interest rates or rates of return for mortgage loans with variable rates
        are
        computed based on the related mortgage loan documents.

       

      (10) 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.

       

      (11) 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.

       

      (12) 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.

       

      (13) 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.

       

      (14) Delinquencies,
        charge-offs and uncollectable accounts are recognized and recorded in accordance
        with the transaction agreements.

       

      (15) 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.

      

      29. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit M:

       

      EXHIBIT
        M

      

      SUMMARY
        OF APPLICABLE REGULATION AB REQUIREMENTS

      

      NOTE:
        This Exhibit N is provided for convenience of reference only. In the event
        of a
        conflict or inconsistency between the terms of this Exhibit M and the text
        of
        Regulation AB, the text of Regulation AB, its adopting release and other
        public
        statements of the SEC shall control. 

       

      

      
        
          
            
            

          

          
            32

            
              

            

          

          
            
            

          

        

      

      

      Item
        1105(a)(1)-(3) and (c)

      

      -Provide
        static pool information with respect to mortgage loans that were originated
        or
        purchased by the Company and which are of the same type as the Mortgage
        Loans.

       

      -Provide
        static pool information regarding delinquencies, cumulative losses and
        prepayments for prior securitized pools of the Company.

       

      -If
        the
        Company has less than 3 years experience securitizing assets of the same
        type as
        the Mortgage Loans, provide the static pool information by vintage origination
        years regarding loans originated or purchased by the Company, instead of
        by
        prior securitized pool. A vintage origination year represents mortgage loans
        originated during the same year.

       

      -Such
        static pool information shall be for the prior five years, or for so long
        as the
        Company has been originating or purchasing (in the case of data by vintage
        origination year) or securitizing (in the case of data by prior securitized
        pools) such mortgage loans if for less than five years.

       

      -The
        static pool information for each vintage origination year or prior securitized
        pool, as applicable, shall be presented in monthly increments over the life
        of
        the mortgage loans included in the vintage origination year or prior securitized
        pool.

       

      -Provide
        summary information for the original characteristics of the prior securitized
        pools or vintage origination years, as applicable and material, including:
        number of pool assets, original pool balance, weighted average initial loan
        balance, weighted average mortgage rate, weighted average and minimum and
        maximum FICO, product type, loan purpose, weighted average and minimum and
        maximum LTV, distribution of loans by mortgage rate, and geographic
        concentrations of 5% or more.

       

      

      Item
        1108(b) and (c)

      

      Provide
        the following information with respect to each servicer that will service,
        including interim service, 20% or more of the mortgage loans in any loan
        group
        in the securitization issued in the Pass-Through Transfer: 

       

      -a
        description of the Company’s form of organization;

       

      -a
        description of how long the Company has been servicing residential mortgage
        loans; a general discussion of the Company’s experience in servicing assets of
        any type as well as a more detailed discussion of the Company’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 Company’s portfolio of mortgage loans of the type similar to
        the Mortgage Loans and information on factors related to the Company that
        may be
        material to any analysis of the servicing of the Mortgage Loans or the related
        asset-backed securities, as applicable, including whether any default or
        servicing related performance trigger has occurred as to any other
        securitization due to any act or failure to act of the Company, whether any
        material noncompliance with applicable servicing criteria as to any other
        securitization has been disclosed or reported by the Company, and the extent
        of
        outsourcing the Company uses;

       

      

      
        
          
            
            

          

          
            33

            
              

            

          

          
            
            

          

        

      

      

      -a
        description of any material changes to the Company’s policies or procedures in
        the servicing function it will perform under this Agreement and any
        Reconstitution Agreements for mortgage loans of the type similar to the Mortgage
        Loans during the past three years;

       

      -information
        regarding the Company’s financial condition to the extent that there is a
        material risk that the effect on one or more aspects of servicing resulting
        from
        such financial condition could have a material impact on the performance
        of the
        securities issued in the Pass-Through Transfer, or on servicing of mortgage
        loans of the same asset type as the Mortgage Loans;

       

      -any
        special or unique factors involved in servicing loans of the same type as
        the
        Mortgage Loans, and the Company’s processes and procedures designed to address
        such factors;

       

      -statistical
        information regarding principal and interest advances made by the Company
        on the
        Mortgage Loans and the Company’s overall servicing portfolio for the past three
        years; and

       

      -the
        Company’s process for handling delinquencies, losses, bankruptcies and
        recoveries, such as through liquidation of REO Properties, foreclosure, sale
        of
        the Mortgage Loans or workouts.

       

      Item
        1110(a)

      

      -Identify
        any originator or group of affiliated originators that originated, or is
        expected to originate, 10% or more of the mortgage loans in any loan group
        in
        the securitization issued in the Pass-Through Transfer.

       

      

      Item
        1110(b)

      

      Provide
        the following information with respect to any originator or group of affiliated
        originators that originated, or is expected to originate, 20% or more of
        the
        mortgage loans in any loan group in the securitization issued in the
        Pass-Through Transfer:

       

      -the
        Company’s form of organization; and

       

      -a
        description of the Company’s origination program and how long the Company has
        been engaged in originating residential mortgage loans, which description
        must
        include a discussion of the Company’s experience in originating mortgage loans
        of the same type as the Mortgage Loans and information regarding the size
        and
        composition of the Company’s origination portfolio as well as information that
        may be material to an analysis of the performance of the Mortgage Loans,
        such as
        the Company’s credit-granting or underwriting criteria for mortgage loans of the
        same type as the Mortgage Loans.

      

      

      
        
          
            
            

          

          
            34

            
              

            

          

          
            
            

          

        

      

      

      Item
        1117

      

      -describe
        any legal proceedings pending against the Company or against any of its
        property, including any proceedings known to be contemplated by governmental
        authorities, that may be material to the holders of the securities issued
        in the
        Pass-Through Transfer.

       

      

      Item
        1119(a)

      

      -describe
        any affiliations of the Company, each other originator of the Mortgage Loans
        and
        each Subservicer with the sponsor, depositor, issuing entity, trustee, any
        originator, any other servicer, any significant obligor, enhancement or support
        provider or any other material parties related to the Pass-Through
        Transfer.

       

      

      Item
        1119(b)

      

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        entered into outside of the ordinary course of business or on terms other
        than
        those obtained in an arm’s length transaction with an unrelated third party,
        apart from the Pass-Through Transfer, between the Company, each other originator
        of the Mortgage Loans and each Subservicer, or their respective affiliates,
        and
        the sponsor, depositor or issuing entity or their respective affiliates,
        that
        exists currently or has existed during the past two years, that may be material
        to the understanding of an investor in the securities issued in the Pass-Through
        Transfer.

       

      Item
        1119(c)

      

      -describe
        any business relationship, agreement, arrangement, transaction or understanding
        involving or relating to the Mortgage Loans or the Pass-Through Transfer,
        including the material terms and approximate dollar amount involved, between
        the
        Company, each other originator of the Mortgage Loans and each Subservicer,
        or
        their respective affiliates and the sponsor, depositor or issuing entity
        or
        their respective affiliates, that exists currently or has existed during
        the
        past two years.

       

      30. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit N:

       

      

      EXHIBIT
        N

      

      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”:

      

      
        
          
            
            

          

          
            35

            
              

            

          

          
            
            

          

        

      

      

      

      
        	
                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.

              	 
	
                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

              

      

       

      
        
          
          

        

        
          36

          
            

          

        

        
          
          

        

      

       

      
        	
                Servicing
                  Criteria 

              	
                Applicable
                  Servicing Criteria

              
	
                Reference

              	
                Criteria

              	
                 

              
	
                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

              

      

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

       

      
        	
                Servicing
                  Criteria 

              	
                Applicable
                  Servicing Criteria

              
	
                Reference

              	
                Criteria

              	
                 

              
	
                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:
                  

              	 

      

      

      31. The
        Agreement is hereby amended effective as of the date hereof by adding the
        following new Exhibit O:

       

      EXHIBIT
        O

      

      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.

              

      

       

      

      
        
          
            
            

          

          
            38

            
              

            

          

          
            
            

          

        

      

       

      
        	 	
                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 ( ). 

              

      

      

      

      
        
          
            
            

          

          
            39

            
              

            

          

          
            
            

          

        

      

      

      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

              	
                ________________

              	
                (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)

              

      

      

      

      
        
          
            
            

          

          
            40

            
              

            

          

          
            
            

          

        

      

      

      Escrow
        Disbursement Detail

      

      
        	
                Type

                (Tax
                  /Ins.)

              	
                Date
                  Paid

              	
                Period
                  of Coverage

              	
                Total
                  Paid

              	
                Base
                  Amount

              	
                Penalties

              	
                Interest

              
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

      

       

      32. Except
        as
        amended above, the Agreement shall continue to be in full force and effect
        in
        accordance with its terms.

      

      

      
        
          
            
            

          

          
            41

            
              

            

          

          
            
            

          

        

      

      

      33. 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]

      

      

      
        
          
            
            

          

          
            42

            
              

            

          

          
            
            

          

        

      

      

      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
                  Purchaser

              
	 	
                 

                By:

                Name:
                  

                Title:
                  

              	
                 

                _________________________________

              
	 	
                 

                 

                US
                  Bank, NA,

                as
                  Company

              
	 	
                 

                By: 

                Name:
                  

                Title:
                  

              	

                _________________________________

              

      

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

      
 

       

      EXHIBIT
        I-1

       

      COUNTRYWIDE
        ASSIGNMENT AGREEMENT

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        Assignment, Assumption and Recognition Agreement (the “Agreement”) is made and
        entered into as of
        September 29, 2006 (the “Closing Date”), among EMC Mortgage Corporation, having
        an address at 2780
        Lake
        Vista Drive, Lewisville, Texas 75067
        (the
“Assignor”), Citibank, N.A., not individually but solely as Trustee for the
        holders of Bear
        Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4,
        having
        an address at 388
        Greenwich Street, 14th
        Floor,
        New York, New York 10013
        (the
“Assignee”) and Countrywide Home Loans Servicing LP, having an address at 400
        Countrywide Way, Simi Valley, California 93065 (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, as
        amended by Amendment No.3, dated May 1, 2005 and as amended by 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;

              

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      
        	 	
                (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 2006-4;

              

      

       

      
        	 	
                (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;

              

      

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      
        	 	
                (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
                  2006-4 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 2006-4.

              

      

       

      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;

              

      

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      
        	 	
                (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

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      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 2006-4 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 2006-4.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      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 2006-4, 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
        2006-4, Account # 50937700

      

      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:

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      Wells
        Fargo Bank, National Association 

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-4

      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:

       

      Citibank,
        N.A.

      as
        Trustee

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013 

      Attention:
        Corporate Trust Services, BSARM 2006-4

      Telecopier
        No.: (212) 816-5527

      

      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:
        John
        Lindberg, Rachel Meza, Eric Varnen and Yuan Li 

      

       

      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 (other than Section 5-1401
        of the New York Obligations Law), and the obligations, rights and remedies
        of
        the parties hereunder shall be determined in accordance with such
        laws.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      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.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the parties have caused this Agreement to be executed by
        their
        duly authorized officers as of the date first above written.

       

      
        	 	
                CITIBANK,
                  N.A.,
                  not individually but solely as trustee for the holders of Bear
                  Stearns ARM
                  Trust, Mortgage Pass-Through Certificates, Series
                  2006-4

              
	 	 
	 	
                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 2006-4 and any
                    affiliate

                

        

         

        
          	
                  4.

                	
                  Citibank,
                    N.A., 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: Countrywide Home Loans Servicing LP, HomeBanc  Mortgage
          Corporation, U.S. Bank; N.A., Provident, EMC Mortgage
          Corporation

      

      d.
        Master
        Servicer: Wells Fargo Bank, National Associatione. Unaffiliated Servicer
        of 20%:
        HomeBanc, U.S. Bank; Provident, EMC Mortgage Corporation

       

      f.
        Originator of 10%: Countrywide Home Loans Servicing LP and Homebanc Mortgage
        Corporation

       

      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

              

      

       

      
        
          
          

        

        
          -1-

          
            

          

        

        
          
          

        

      

       

      
        	
                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

              	
                 

                The
                  standard FNMA numeric code used to indicate the default/delinquent
                  status
                  of a particular loan.

              	 	
                Action
                  Code Key: 15=Bankruptcy, 30=Foreclosure, , 60=PIF, 63=Substitution,
                  65=Repurchase,70=REO 

              	
                2

              
	
                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

              

      

      

      
        
          
          

        

        
          -2-

          
            

          

        

        
          
          

        

      

      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-2

       

      EMC
        MORTGAGE CORPORATION ASSIGNMENT AGREEMENT

       

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        Assignment, Assumption and Recognition Agreement (the “AAR Agreement”) is made
        and entered into as of September 29, 2006 (the “Closing Date”), among Structured
        Asset Mortgage Investments II Inc. (the “Assignor”),
        Citibank, N.A., not individually but solely as Trustee for the holders of
        Bear
        Stearns ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4, having
        an
        address at 388 Greenwich Street, 14th
        Floor,
        New York, New York 10013 (in this capacity, the “Assignee”) and EMC Mortgage
        Corporation (the “Company”).

      

      Whereas,
        the Assignor and the Company entered into that certain Servicing Agreement,
        dated as of September 1, 2006 (the “Servicing Agreement”), pursuant to which the
        Company agreed to service certain mortgage loans (the “Mortgage Loans”) on
        behalf of the Assignor. 

      

      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 as in, to and under
        the
        Assigned Loans, and as they relate 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, with respect
        to the Assigned Loans, 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
                  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 Servicing Agreement 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 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;

              

      

       

      
        	 	
                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;
                  and

              

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

        
          	 	
                  h.

                	
                  There
                    is no action, suit, proceeding, investigation or litigation pending
                    or, to
                    Assignor's knowledge, threatened, which either in any instance
                    or in the
                    aggregate, if determined adversely to Assignor, would adversely
                    affect
                    Assignor's execution or delivery of, or the enforceability of,
                    this AAR
                    Agreement, or the Assignor's ability to perform its obligations
                    under this
                    AAR Agreement.

                

        

      

       

      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
                  2006-4;

              

      

       

      
        	 	
                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 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; 

              

      

      

        
          	 	
                  d.

                	
                  There
                    is no action, suit, proceeding, investigation or litigation pending
                    or, to
                    Assignee's knowledge, threatened, which either in any instance
                    or in the
                    aggregate, if determined adversely to Assignee, would adversely
                    affect
                    Assignee's execution or delivery of, or the enforceability of,
                    this AAR
                    Agreement, or the Assignee's ability to perform its obligations
                    under this
                    AAR Agreement; and

                

        

         

        
          	 	
                  e.

                	
                  Assignee
                    assumes for the benefit of each of Assignor and Company all of
                    Assignor’s
                    rights as “Owner” under the Servicing Agreement but solely with respect to
                    the Assigned Loans.

                

        

      

       

      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 accurate 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 charter 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; 

              

      

       

      
        	 	
                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/or the Assigned
                  Loans;
                  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 the Assignor 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 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 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 the 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 Mortgage 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.

       

      Recognition
        of Assignee

       

      7. 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 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, waiver, 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.

       

      8. Notwithstanding
        any term hereof to the contrary, it is expressly understood and agreed by
        the
        parties hereto that (a) the execution and delivery of this AAR Agreement
        by the
        Assignee is solely in its capacity as trustee (the “Trustee”) for BSARM Trust
        2006-4, Mortgage Pass-Through Certificates, Series 2006-4 pursuant to the
        Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated
        as of September 1, 2006, among SAMI II, the Assignor, the Assignee, Wells
        Fargo
        Bank, N,A, as master servicer (the “Master Servicer”) and as securities
        administrator, and not individually, (b) each of the representations,
        undertakings and agreements herein made on behalf of BSARM Trust 2006-4 (the
        “Trust”) is made and intended not as personal representations, undertakings and
        agreements of the Trustee but is made and intended for the purpose of binding
        only the Trust and (c) under no circumstances shall the Trustee be personally
        liable for the payment of any indebtedness or expenses of the Assignee or
        the
        Trust or be liable for the breach or failure of any obligation, representation,
        warranty or covenant made or undertaken by the Assignee, the Assignor or
        the
        Trust under this AAR Agreement or made or undertaken by the Assignee, the
        Assignor or the Trust under the Agreements or the Pooling and Servicing
        Agreement. 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 for BSARM Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Miscellaneous

       

      9. 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,

              

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 

      Attention:
        President or General Counsel

      Facsimile: 
        (469) 759-4714

      

       

      
        	 	
                b.

              	
                In
                  the case of Assignor,

              

      

      Structure
        Asset Mortgage Investment II Inc.

      383
        Madison Avenue

      New
        York,
        New York 10179

      Attention:
        Deirdre Burke

      

      

      
        	 	
                c.

              	
                In
                  the case of Assignee,

              

      

      Citibank,
        N.A.

      as
        Trustee

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013 

      Attention:
        Structured Finance - Agency and Trust - BSARM 2006-4

      Telecopier
        No.: (212) 816-5527

      

      10. 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 September 1, 2006, among the
        Assignor, the Assignee, the Company, the Master Servicer and Wells Fargo
        Bank,
        N.A. as securities administrator, 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:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      BSARM
        Trust 2006-4

      Wells
        Fargo Bank, N.A.

      ABA
        #
        121000248

      SAS
        Clearing

      Account
        #
        3970771416.

      For
        Further Credit to: BSARM 2006-4, Account # 50937700

      

      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 8 herein and to the Master Servicer at:

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-4

      Telecopier
        No. (410) 715-2380

       

      11. 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 OBLIGATIONS LAW),
        AND THE
        OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED
        IN
        ACCORDANCE WITH SUCH LAWS.

       

      12. 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.

       

      13. 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.

       

      14. This
        AAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignments
        of
        the Servicing Agreement to the extent of the Assigned Loans by Assignor to
        Assignee and the termination of the Servicing Agreement.

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      15. 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.

       

      16. 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 AAR Agreement on the
        date
        first above written.

       

       

      
        	
                 

                STRUCTURES
                  ASSET INVESTMENT II INC.,

                the
                  Assignor

              	
                 

                CITIBANK,
                  N.A.,
                  not individually but solely as trustee for the holders of Bear
                  Stearns ARM
                  Trust, Mortgage Pass-Through Certificates, Series
                  2006-4,

              
	 	 
	 	
                the
                  Assignee

              
	 	 
	
                By:                             
                                          
                  

              	
                
                  By:__________________________

                

              
	
                Name:
                  

                Title:
                  

              	
                
                  Name:________________________

                  Title:_________________________

                

              
	 	 
	
                EMC
                  MORTGAGE CORPORATION,

                the
                  Company

              	 
	
                 

                 

              	 
	
                
                  By:__________________________

                

              	 
	
                
                  Name:________________________

                  Title:_________________________

                

              	 
	 	 
	
                Acknowledged
                  and Agreed:

                
WELLS
                  FARGO BANK, N.A.

                 

                 

                
                  By:__________________________

                

                
                  Name:________________________

                  Title:_________________________

                

              	 

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Attachment
        I

      

      Assigned
        Loans

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Attachment
        II

      

      Servicing
        Agreement

       

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I-3

       

      HOMEBANC
        ASSIGNMENT AGREEMENT

       

       

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        is
        an Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) made
        as of September 29, 2006, among EMC Mortgage Corporation, having an address
        at
        2780 Lake Vista Drive, Lewisville, Texas 75067 (the “Assignor”), Citibank N.A.,
        not individually but solely as Trustee for the holders of Bear Stearns ARM
        Trust, Mortgage Pass-Through Certificates, Series 2006-4, having an address
        at
        388 Greenwich Street, 14th
        Floor,
        New York, New York 10013 (the “Assignee”) and HomeBanc Mortgage Corporation (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") purchased by the Assignor
        from
        the Company and now serviced by Company for Assignor and its successors and
        assigns pursuant to (a) the Purchase, Warranties and Servicing Agreement,
        dated
        as of January 1, 2004, as amended by the Amended and Restated Amendment No.
        1 to
        the Purchase, Warranties and Servicing Agreement, dated as of January 27,
        2006,
        between Assignor and Company (as amended, the “PWS Agreement”) and (b) the Term
        Sheet dated June 29, 2006 between Assignor and Company (the “Term Sheet” and
        together with the PWS 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 PWS Agreement.

       

      Assignment
        and Assumption

       

      Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest as in, to and under
        (a) the
        Assigned Loans and (b) the Agreements with respect to the Assigned Loans;
        provided, however, that the Assignor is not assigning to the Assignee any
        of its
        right, title or interest, in, to and under the PWS Agreement with respect
        to any
        mortgage loan other than the Assigned 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 PWS Agreement and the Assignor is retaining the right to enforce
        the
        representations and warranties 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 PWS Agreement or otherwise relating to the transaction contemplated
        herein (including, but not limited to, any obligation to indemnify the
        Assignee).

       

      Representations,
        Warranties and Covenants

       

      1. Assignor
        warrants and represents to Assignee and Company as of the date
        hereof:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements which
        agreements are 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 PWS 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 and in the Mortgage Loan Purchase Agreement
        dated as of September 29, 2006 between the Assignor and Structured Asset
        Mortgage Investment II Inc. ("SAMI II"), 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 PWS 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 PWS 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 the 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; 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

       

      (h) 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;

       

      (i) The
        Assignor has received from Company, and has delivered to the Assignee, all
        documents required to be delivered to Assignor by the Company prior to the
        date
        hereof pursuant to the PWS Agreement with respect to the Assigned Loans and
        has
        not received, and has not requested from the Company, any additional documents;
        and 

       

      (j) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignor's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignor, would adversely affect
        Assignor's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignor's ability to perform its obligations under this
        AAR
        Agreement.

       

      2. 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 Assigned Loans as trustee on behalf of the holders of the Bear Stearns
        ARM Trust 2006-4, Mortgage Pass-Through Certificates, Series
        2006-4;

       

      (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;
        

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

       

      (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; 

       

      (d) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignee's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignee, would adversely affect
        Assignee's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignee's ability to perform its obligations under this
        AAR
        Agreement; and

       

      (e) Assignee
        assumes for the benefit of each of the Assignor and the Company all of the
        rights of the Purchaser under the PWS Agreement with respect to the Assigned
        Loans.

       

      3. Company
        warrants and represents to, and covenant with, Assignor and Assignee as of
        the
        date hereof:

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements, which
        agreements are 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
        PWS 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 charter 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 the 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; 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

       

      (e) The
        Company shall establish a Custodial Account and an Escrow Account under the
        PWS
        Agreement in favor of the Assignee with respect to the Assigned Loans separate
        from the Custodial Account and Escrow Account previously established under
        the
        PWS Agreement in favor of Assignor;

       

      (f) 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 the
        Company in Sections 3.01 and 3.02 of the PWS Agreement to be untrue in any
        material respect; 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 material fact necessary to make the
        statements contained therein not misleading.

       

      4. Company
        warrants and represents to, and covenants with the Assignor 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 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 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.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

       

      Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        any
        Third-Party Originator to) (i) immediately notify the 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 Mortgage 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
        notice/update regarding Regulation AB 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,
        Texas 75067

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      with
        copies 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

      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:

       

      

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

       

      Bear,
        Stearns & Co. Inc.

      383
        Madison Avenue, 3rd Floor

      New
        York,
        NY 10179

      Attention:
        Global Credit Administration

      Facsimile:
        (212) 272-6564

       

      5. 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.

       

      Recognition
        of Assignee

       

      6. From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans, and acknowledges that the Assigned Loans are intended to be part of
        a
        REMIC or multiple REMICs, and will service the Assigned Loans in accordance
        with
        the PWS Agreement (as modified by this AAR Agreement) but in no event in
        a
        manner that would (i) cause any such intended REMIC to fail to qualify as
        a
        REMIC or (ii) result in the imposition of a tax upon any such intended 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 PWS Agreement which amendment, modification,
        waiver or other alteration would in any way affect the Assigned Loans without
        the prior written consent of Assignee.

       

      7. Notwithstanding
        any term hereof to the contrary, it is expressly understood and agreed by
        the
        parties hereto that (a) the execution and delivery of this AAR Agreement
        by the
        Assignee is solely in its capacity as trustee (the “Trustee”) for Bear Stearns
        ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4 pursuant to
        the
        Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated
        as of September
        1, 2006, among SAMI II, the Assignor, the Assignee, Wells Fargo Bank, N,A,
        as
        master servicer (the “Master Servicer”) and as securities administrator, and not
        individually, (b) each of the representations, undertakings and agreements
        herein made on behalf of Bear Stearns ARM Trust 2006-4 (the “Trust”) is made and
        intended not as personal representations, undertakings and agreements of
        the
        Trustee but is made and intended for the purpose of binding only the Trust
        and
        (c) under no circumstances shall the Trustee be personally liable for the
        payment of any indebtedness or expenses of the Assignee or the Trust or be
        liable for the breach or failure of any obligation, representation, warranty
        or
        covenant made or undertaken by the Assignee, the Assignor or the Trust under
        this AAR Agreement or made or undertaken by the Assignee, the Assignor or
        the
        Trust under the Agreements or the Pooling and Servicing Agreement. 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 for Bear Stearns ARM Trust, Mortgage Pass-Through Certificates,
        Series 2006-4.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

       

      Modification
        of PWS Agreement

       

      8. The
        Company and Assignor hereby amend the PWS Agreement as follows:

       

      (a) The
        following definitions are added to Article I of the PWS Agreement:

       

      Assignee:
        Citibank, N.A., as trustee for the holders of SAMI II Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      Pooling
        and Servicing Agreement:
        That
        certain pooling and servicing agreement, dated as of September 1, 2006, among
        SAMI II, the Trustee, the Master Servicer, the Securities Administrator and
        EMC
        Mortgage Corporation.

       

      SAMI
        II:
        Structured Asset Mortgage Investments II, Inc..

       

      Securities
        Administrator: Wells
        Fargo Bank, N.A.

       

      Trustee:
        Citibank, N.A., 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, Georgia, Iowa, Illinois, Maryland, Minnesota, the Commonwealth
        of
        Pennsylvania, California or Ohio or (iii) a day on which banks in the States
        of
        New York, Georgia, Iowa, Illinois, Maryland, Minnesota, the Commonwealth
        of
        Pennsylvania, California or Ohio are authorized or obligated by law or executive
        order to be closed

       

      (c) The
        Standard & Poor’s rating of “A2” in the definition of Eligible Account in
        Section 1.01 of the PWS Agreement is hereby replaced with “AA”.

       

      (d) The
        following is added as the new third paragraph of Section 4.01 of the PWS
        Agreement. 

       

      In
        addition, in connection with any modification of a Mortgage Loan that is
        entered
        into by a Mortgagor in lieu of refinancing and that is otherwise not permitted
        by Section 4.01, the Servicer shall treat such modification for remitting
        and
        reporting purposes as a Principal Prepayment in full to the Trust occurring
        concurrently with the origination of a new mortgage loan, which is not in
        the
        Trust, to the Mortgagor. For any such Mortgage Loan that has been so deemed
        the
        subject of a Principal Prepayment in full, upon written notice from the Servicer
        of the deposit into the Collection Account of funds in an amount equal to
        all
        amounts that would be owed to the Trust by the related Mortgagor if such
        deemed
        Principal Prepayment were an actual Principal Prepayment in full, the Trustee
        shall execute and deliver such instruments of transfer or assignment, in
        each
        case without recourse, as the Master Servicer or the Servicer shall furnish
        to
        it and as shall be necessary to vest in the designated successor owner of
        such
        Mortgage Loan specified in such instruments, such Mortgage Loan released
        pursuant hereto, and the Trustee and the Securities Administrator shall have
        no
        further responsibility with regard to such Mortgage Loan or the related Mortgage
        File. In
        connection with
        the
        foregoing, the Servicer shall promptly deliver to the Master Servicer and
        the
        Trustee an Officer’s
        Certificate to the effect that all requirements of this paragraph have been
        satisfied with respect
        to such Mortgage Loan. Furthermore,
        the Servicer hereby covenants and agrees to indemnify
        the Trust against any liability for any "prohibited transaction" taxes and
        any
        related interest,
        additions, and penalties imposed on the Trust as a result of any Mortgage
        Loan
        affected pursuant
        to this paragraph, any holding of such Mortgage Loan by the Trust or any
        purchase of such
        Mortgage Loan by the Servicer (but such obligation shall not prevent the
        Servicer or any other
        appropriate Person from contesting any such tax, in good faith and in the
        appropriate proceedings,
        and shall not prevent the Servicer from withholding payment of such tax,
        if permitted
        by law, pending the outcome of such proceedings). The Servicer shall have
        no
        right of
        reimbursement for any amount paid pursuant to the foregoing indemnification,
        except to the extent
        that the amount of any tax, interest, and penalties, together with interest
        thereon, is
        refunded
        to the Trust Fund or the Servicer.

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

       

      (e) The
        following is added to the first sentence of the fourth paragraph of Section
        4.13
        of the PWS Agreement:

       

      “;
        provided, however, that any REO property shall be disposed of by the Company
        before the close of the third taxable year following the taxable year in
        which
        the Mortgage Loan became an REO property, unless the Company is otherwise
        directed by the Assignee.”

       

      (f) Section
        11.04 of the PWS Agreement is deleted in its entirety and replaced with the
        following:

       

      Section
        11.04  Governing
        Law.

       

      This
        Agreement and the related Term Sheet 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 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.

       

      Miscellaneous

       

      9. All
        demands, notices and communications related to the Assigned Loans, the PWS
        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:

              

      

       

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319

      Attention:
        Debra F. Watkins, EVP and Chief Capital Markets Officer

      Telecopier
        No.: (404) 705-2301

       

      With
        a
        copy to: 

       

      HomeBanc
        Mortgage Corporation

      2002
        Summit Boulevard, Suite 100

      Atlanta,
        GA 30319

      Attention:
        General Counsel

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (b)

              	
                In
                  the case of Assignor:

              

      

       

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

      Telecopier
        No.: (469) 759-4714

      Email:
        sellerapproval@bear.com

       

      
        	 	
                (c)

              	
                In
                  the case of Assignee:

              

      

       

      Citibank,
        N.A.

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013

      Attention:
        Structured Finance Agency & Trust —BSARM 2006-4

      Telecopier
        No.: (212) 816-5527

       

      
        	 	
                (d)

              	
                In
                  the case of Master Servicer and Securities Administrator:
                  

              

      

       

      Wells
        Fargo Bank, N.A. 

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-4

      Telecopy
        No.: (410) 715-2380

       

      10. The
        Company hereby acknowledges that Wells Fargo Bank, N.A. has been appointed
        as
        the master servicer of the Assigned Loans pursuant to the Pooling and Servicing
        Agreement and therefor has the right to enforce all obligations of the Company,
        as they relate to the Assigned Loans, under the PWS Agreement. Such right
        will
        include, without limitation, the right to terminate the Company under the
        PWS
        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 PWS
        Agreement, the right to receive all monthly reports and other data required
        to
        be delivered by the Company under the PWS 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 PWS 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
        No.: 3970771416

      For
        Further Credit to: BSARM 2006-4, Account No.: 50937700

       

      and
        the
        Company shall deliver all reports required to be delivered under the PWS
        Agreement, as they relate to the Assigned Loans, to the Assignee at the address
        set forth in Section 8(c) herein and to the Master Servicer at:

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045 

      Attention:
        Client Manager BSARM 2006-4

       

      Telecopier
        No. (410) 715-2380

       

      11. Each
        party will pay any commissions it has incurred and the fees of its attorneys
        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 (other than Section 5-1401
        of the New York 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 PWS Agreement to the extent of the Assigned Loans by Assignor to Assignee
        and the termination of the PWS 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 PWS Agreement with respect to the Assigned Loans, the terms of this AAR
        Agreement shall control. 

       

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      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:
                  

              
	 	 

      

      
         

        
          	 	 	 
	 	
                  CITIBANK,
                    N.A.

                  not
                    individually but solely as trustee for the holders of Bear Stearns
                    Arm
                    Trust, Mortgage Pass-Through Certificates, Series 2006-4,

                  Assignee

                
	 
 	 
 	 
 
	 	By:  	 
	 	
                  

                  Name: 

                  Title: 

                
	 	 

        

         

      

      
        
           

          
            	 	 	 
	 	
                    
                      HOMEBANC
                        MORTGAGE CORPORATION,

                      Company

                    

                  
	 
 	 
 	 
 
	 	By:  	 
	 	
                    

                    Name: 

                    Title: 

                  
	 	 

          

          
            
               

              
                	 	 	 
	 	
                        
                          
                            ACKNOWLEDGED:

                            WELLS
                              FARGO BANK, NATIONAL ASSOCIATION

                          

                        

                      
	 
 	 
 	 
 
	 	By:  	 
	 	
                        

                        Name: 

                        Title: 

                      
	 	 

              

               

            

          

        

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      

       

       

      ATTACHMENT
        1

       

      ASSIGNED
        LOAN SCHEDULE

       

      (Available
        upon request)

       

       

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ATTACHMENT
        2

       

      AGREEMENTS

       

       

      (Available
        Upon Request)

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        I-4

       

      PROVIDENT
        ASSIGNMENT AGREEMENT

       

       

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        is
        an Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) made
        as of September 29, 2006, among EMC Mortgage Corporation, having an address
        at
        2780 Lake Vista Drive, Lewisville, Texas 75067 (the “Assignor”), Citibank, N.A.,
        not individually but solely as Trustee for the holders of Bear Stearns ARM
        Trust, Mortgage Pass-Through Certificates, Series 2006-4, having an address
        at
        388 Greenwich Street, 14th
        Floor,
        New York, New York 10013 (the “Assignee”) and Provident
        Funding Associates, L.P.
        (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") purchased by the Assignor
        from
        the Company and now serviced by Company for Assignor and its successors and
        assigns pursuant to (a) the Purchase, Warranties and Servicing Agreement,
        dated
        as of May 1, 2006 between Assignor and Company (the “PWS Agreement”) and (b) the
        Term Sheet dated May 30, 2006 between Assignor and Company (the “Term Sheet” and
        together with the PWS 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 PWS Agreement.

       

      Assignment
        and Assumption

       

      Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest as in, to and under
        (a) the
        Assigned Loans and (b) the Agreements with respect to the Assigned Loans;
        provided, however, that the Assignor is not assigning to the Assignee any
        of its
        right, title or interest, in, to and under the PWS Agreement with respect
        to any
        mortgage loan other than the Assigned 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 PWS Agreement and the Assignor is retaining the right to enforce
        the
        representations and warranties 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 PWS Agreement or otherwise relating to the transaction contemplated
        herein (including, but not limited to, any obligation to indemnify the
        Assignee).

       

      Representations,
        Warranties and Covenants

       

      1. Assignor
        warrants and represents to Assignee and Company as of the date
        hereof:

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements which
        agreements are 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 PWS 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 and in the Mortgage Loan Purchase Agreement
        dated as of September 29, 2006 between the Assignor and Structured Asset
        Mortgage Investments II Inc. ("SAMI II"), 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 PWS 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 PWS 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 the 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; 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      

       

      (h) 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;

       

      (i) The
        Assignor has received from Company, and has delivered to the Assignee, all
        documents required to be delivered to Assignor by the Company prior to the
        date
        hereof pursuant to the PWS Agreement with respect to the Assigned Loans and
        has
        not received, and has not requested from the Company, any additional documents;
        and 

       

      (j) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignor's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignor, would adversely affect
        Assignor's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignor's ability to perform its obligations under this
        AAR
        Agreement.

       

      2. 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 Assigned Loans as trustee on behalf of the holders of the Bear Stearns
        ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4;

       

      (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;
        

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      

       

      (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; 

       

      (d) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignee's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignee, would adversely affect
        Assignee's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignee's ability to perform its obligations under this
        AAR
        Agreement; and

       

      (e) Assignee
        assumes for the benefit of each of the Assignor and the Company all of the
        rights of the Purchaser under the PWS Agreement with respect to the Assigned
        Loans.

       

      3. Company
        warrants and represents to, and covenant with, Assignor and Assignee as of
        the
        date hereof:

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements, which
        agreements are 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
        PWS 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 charter 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 the 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; 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

       

      (e) The
        Company shall establish a Custodial Account and an Escrow Account under the
        PWS
        Agreement in favor of the Assignee with respect to the Assigned Loans, under
        the
        PWS Agreement in favor of Assignor;

       

      (f) 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 the
        Company in Sections 3.01 and 3.02 of the PWS Agreement to be untrue in any
        material respect; 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 material fact necessary to make the
        statements contained therein not misleading.

       

      4. Company
        warrants and represents to, and covenants with the Assignor 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 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 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.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

       

      Notwithstanding
        anything to the contrary in the Agreement, the Company shall (or shall cause
        any
        Third-Party Originator to) (i) immediately notify the 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 Mortgage 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
        notice/update regarding Regulation AB 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,
        Texas 75067

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      

       

      with
        copies 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

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      

       

      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

       

      5. 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.

       

      Recognition
        of Assignee

       

      6. From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans, and acknowledges that the Assigned Loans are intended to be part of
        a
        REMIC or multiple REMICs, and will service the Assigned Loans in accordance
        with
        the PWS Agreement (as modified by this AAR Agreement) but in no event in
        a
        manner that would (i) cause any such intended REMIC to fail to qualify as
        a
        REMIC or (ii) result in the imposition of a tax upon any such intended 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 PWS Agreement which amendment, modification,
        waiver or other alteration would in any way affect the Assigned Loans without
        the prior written consent of Assignee.

       

      7. Notwithstanding
        any term hereof to the contrary, it is expressly understood and agreed by
        the
        parties hereto that (a) the execution and delivery of this AAR Agreement
        by the
        Assignee is solely in its capacity as trustee (the “Trustee”) for BSARM Trust
        2006-4, Mortgage Pass-Through Certificates, Series 2006-4 pursuant to the
        Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated
        as of September 1, 2006, among SAMI II, the Assignor, the Assignee, Wells
        Fargo
        Bank, N,A, as master servicer (the “Master Servicer”) and as securities
        administrator, and not individually, (b) each of the representations,
        undertakings and agreements herein made on behalf of BSARM Trust 2006-4 (the
        “Trust”) is made and intended not as personal representations, undertakings and
        agreements of the Trustee but is made and intended for the purpose of binding
        only the Trust and (c) under no circumstances shall the Trustee be personally
        liable for the payment of any indebtedness or expenses of the Assignee or
        the
        Trust or be liable for the breach or failure of any obligation, representation,
        warranty or covenant made or undertaken by the Assignee, the Assignor or
        the
        Trust under this AAR Agreement or made or undertaken by the Assignee, the
        Assignor or the Trust under the Agreements or the Pooling and Servicing
        Agreement. 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 for BSARM Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

       

      Modification
        of PWS Agreement

       

      8. The
        Company and Assignor hereby amend the PWS Agreement as follows:

       

      (a) The
        following definitions are added to Article I of the PWS Agreement:

       

      Assignee:
        Citibank, N.A., as trustee for the holders of BSARM Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      Pooling
        and Servicing Agreement:
        That
        certain pooling and servicing agreement, dated as of September 1, 2006, among
        SAMI II, the Trustee, the Master Servicer and Securities Administrator and
        EMC
        Mortgage Corporation.

       

      SAMI
        II:
        Structured Asset Mortgage Investments II Inc.

       

      Securities
        Administrator:
        Wells
        Fargo Bank, N.A.

       

      Trustee:
        Citibank, N.A., or its successor in interest, or any successor trustee appointed
        as provided in the Pooling and Servicing Agreement.

       

      (b) The
        definition of Business Day in the PWS Agreement is deleted in its entirety
        and
        hereby 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, Georgia, Iowa, Illinois, Maryland, Minnesota, the Commonwealth
        of
        Pennsylvania, California or Ohio or (iii) a day on which banks in the States
        of
        New York, Georgia, Iowa, Illinois, Maryland, Minnesota, the Commonwealth
        of
        Pennsylvania, California or Ohio are authorized or obligated by law or executive
        order to be closed.

       

      (c) Section
        (vii) of the definition of Permitted Investments of the PWS Agreement is
        deleted
        in its entirety and hereby replaced with the following:

       

      (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 rating such fund.

       

      (d) The
        definition of Servicing Fee Rate in the PWS Agreement is deleted in its entirety
        and hereby replaced with the following:

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

       

      Servicing
        Fee Rate:
        As set
        forth in the Mortgage Loan Schedule delivered to the Master
        Servicer.

       

      (e) The
        Standard & Poor’s rating of “A2” in the definition of Eligible Account in
        Section 1.01 of the PWS Agreement is hereby replaced with “AA”.

       

      (f) Section
        2.09 of the PWS Agreement is deleted in its entirety.

       

      (g) Section
        2.10 of the PWS Agreement is deleted in its entirety.

       

      (h) The
        last
        sentence of the sixth paragraph of Section 4.01 of the PWS Agreement is deleted
        in its entirety.

       

      (i) The
        second paragraph of Section 4.03 of the PWS Agreement is deleted in its
        entirety.

       

      (j) The
        last
        sentence of Section 4.04 of the PWS Agreement is deleted in its entirety
        and
        hereby replaced with the following:

       

      The
        Company shall be responsible for any losses suffered with respect to investment
        of funds in the Custodial Account.

       

      (k) Section
        4.05 (iii) of the PWS Agreement is deleted in its entirety and hereby replaced
        with the following:

       

      (iii)
        to
        reimburse itself for unreimbursed Monthly Advances and Servicing Advances
        and
        any unpaid Servicing Fees (or REO administration fees described in Section
        4.13), the Company's right to reimburse itself pursuant to this subclause
        (iii)
        with respect to any Mortgage Loan being limited to related proceeds from
        Liquidation Proceeds, Condemnation Proceeds and Insurance Proceeds in accordance
        with the relevant provisions of the Fannie Mae Guides or as otherwise set
        forth
        in this Agreement; any recovery shall be made upon liquidation of the REO
        Property; 

       

      (l) The
        last
        sentence of Section 4.06 of the PWS Agreement is deleted in its entirety
        and
        hereby replaced with the following:

       

      The
        Company shall be responsible for any losses suffered with respect to investment
        of funds in the Escrow Account.

       

      (m) The
        last
        sentence of the second paragraph of Section 4.13 of the PWS Agreement is
        deleted
        in its entirety.

       

      (n) The
        following is added to the first sentence of the fourth paragraph of Section
        4.13
        of the PWS Agreement:

       

      “;
        provided, however, that any REO property shall be disposed of by the Company
        before the close of the third taxable year following the taxable year in
        which
        the Mortgage Loan became an REO property, unless otherwise permitted by the
        last
        paragraph of Section 4.03.”

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

       

      (o) The
        last
        paragraph of Section 4.13 of the PWS Agreement is deleted in its
        entirety.

       

      (p) The
        first
        sentence of Section 6.04 (a) of the PWS Agreement is deleted in its entirety
        and
        hereby replaced with the following:

       

      (a)
        The
        Company will deliver to the Purchaser and any Master Servicer, not later
        than
        March 1 of each calendar year beginning in 2007, an Officer’s Certificate
        acceptable to the Purchaser and any Master Servicer (an “Annual Statement of
        Compliance”) stating, as to each signatory thereof, that (i) a review of the
        activities of the Company during the preceding calendar year and of 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, the Company 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.

       

      (q) Section
        6.04 (c) of the PWS Agreement is deleted in its entirety and hereby replaced
        with the following:

       

      (c)
        If
        the Company cannot deliver the related Annual Statement of Compliance and
        Annual
        Certification by March 1st
        of such
        year, the Master Servicer, at its sole option, may permit a cure period for
        the
        Company to deliver such Annual Statement of Compliance and Annual Certification,
        but in no event later than March 10th of such year.

      

      (r) The
        first
        sentence of the last paragraph of Section 6.04 of the PWS Agreement is deleted
        in its entirety and hereby replaced with the following:

       

      Failure
        of the Company to timely comply with this Section 6.04 (including with respect
        to the cure timeframes required in this section) shall be deemed an Event
        of
        Default, automatically, without notice and without any cure period, unless
        otherwise agreed to by the Purchaser as set forth in 6.04(c), and the Master
        Servicer may, in addition to whatever rights the Purchaser may have under
        Sections 3.03 and 8.01 and at law or equity or to damages, including injunctive
        relief and specific performance, terminate all the rights and obligations
        of the
        Company under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Company for the same, as provided in Section
        9.01.

      

      (s) The
        third
        paragraph of Section 6.07 of the PWS Agreement is deleted in its entirety
        and
        hereby replaced with the following:

       

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      Such
        report at a minimum shall address each of the
        Servicing Criteria specified on Exhibit
        O.

       

      (t) The
        last
        two paragraphs of Section 6.07 of the PWS Agreement are deleted in their
        entirety and hereby replaced with the following:

       

      If
        the
        Company cannot deliver the related Assessment of Compliance or Attestation
        Report by March 1st
        of such
        year, the Master Servicer, at its sole option, may permit a cure period for
        the
        Company to deliver such Assessment of Compliance or Attestation Report, but
        in
        no event later than March 10th of such year.

      

      Failure
        of the Company to timely comply with this Section 6.07 (including with respect
        to the cure timeframes required in this section) shall be deemed an Event
        of
        Default, automatically, without notice and without any cure period, unless
        otherwise agreed to by the Purchaser as described herein, and the Master
        Servicer may, in addition to whatever rights the Purchaser may have under
        Sections 3.03 and 8.01 and at law or equity or to damages, including injunctive
        relief and specific performance, terminate all the rights and obligations
        of the
        Company under this Agreement and in and to the Mortgage Loans and the proceeds
        thereof without compensating the Company 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 supercede any other provision in
        this
        Agreement or any other agreement to the contrary.

      

       

      (u) The
        following is added to Section 9.01 (ii) of the PWS Agreement:

       

      “failure
        on the part of the Company duly to observe or perform its obligations under
        Section 6.04, 6.07 or 11.18 within the time specified therein; or”

      

      (v) The
        first
        paragraph following paragraph (ix) of Section 9.01 of the PWS Agreement is
        deleted in its entirety and hereby replaced with the following:

       

      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 Company, the Company
        may,
        in addition to whatever rights the Purchaser may have under Sections 3.03
        and
        8.01 and at law or equity or to damages, including injunctive relief and
        specific performance, terminate all the rights and obligations of the Company
        (and if the Company 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 Company
        for
        the same.
        On or
        after the 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 11.01. Upon written request from the Purchaser, the Company shall
        prepare, execute and deliver, any and all documents and other instruments,
        place
        in such successor'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
        Company's sole expense. The Company agrees to 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 or Escrow Account or
        thereafter received with respect to the Mortgage Loans or any REO
        Property.

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

      

      (w) Section
        10.02 of the PWS Agreement is deleted in its entirety.

       

      (x) Section
        11.04 of the PWS Agreement is deleted in its entirety and replaced with the
        following:

       

      Section
        11.04  Governing
        Law.

       

      This
        Agreement and the related Term Sheet 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 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.

       

      (y) Section
        11.18 (viii) of the PWS Agreement is deleted in its entirety and hereby replaced
        with the following:

       

      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), in accordance with
        Section 3.01(r), (i) provide immediate 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 clause (vi) 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 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;

       

      (z) Section
        11.18 (xi)(i)(A) is deleted in its entirety and hereby replaced with the
        following:

       

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

       

      (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 this Section 11.18, Section 6.04 or Section 6.07
        by or
        on behalf of the Company, or provided under this Section 11.18, Section 6.04
        or
        Section 6.07 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;

      

       

      (aa) Section
        11.18(xi)(ii) of the PWS Agreement is deleted in its entirety and replaced
        with
        the following:

       

      (ii)
        any
        breach by the Company of its obligations under this Section 11.18, Section
        6.04
        or Section 6.07, 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 Section 11.18, Section 6.04 or Section 6.07,
        including any failure by the Company to identify pursuant to Section 11.20
        any
        Subcontractor “participating in the servicing function” within the meaning of
        Item 1122 of Regulation AB; 

      

      (z) Section
        11.18 (b)(xi)(iv) of the PWS Agreement is deleted in its entirety and hereby
        replaced with the following:

       

      (iv)
        the
        negligence bad faith or willful misconduct of the Company in connection with
        its
        performance under this Section 11.18, Section 6.04 or Section 6.07.

       

      (aa) Section
        11.21(d) of the PWS Agreement is deleted in its entirety and hereby replaced
        with the following:

      

      (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 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 6.04(b), 6.07 and 11.18
        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 Report and the other certificates required to be delivered by
        such
        Subservicer and such Subcontractor under Sections 6.04(b) and 6.07, in each
        case
        as and when required to be delivered.

      

      (bb) The
        first
        Exhibit (“Form of Company Certification”) to Exhibit D of the PWS Agreement is
        hereby deleted in its entirety.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      

       

      (cc) The
        second paragraph of Exhibit K of the PWS Agreement is deleted in its entirety
        and hereby replaced with the following:

       

      • The
        Company shall provide an acceptable annual certification (officer’s certificate)
        to the Master Servicer (as required by the Sarbanes-Oxley Act of 2002) as
        well
        as any other annual certifications required under the securitization
        documents.

      

      (dd) The
        fourth paragraph of Exhibit K of the PWS Agreement is deleted in its
        entirety.

       

      (ee) Exhibit
        L
        of the PWS Agreement is deleted in its entirety and hereby replaced with
        Exhibit
        A attached hereto.

       

      (ff) Exhibit
        O
        of the PWS Agreement is deleted in its entirety and hereby replaced with
        Exhibit
        B attached hereto.

       

      

      Miscellaneous

       

      9. All
        demands, notices and communications related to the Assigned Loans, the PWS
        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:

              

      

       

      Provident
        Funding Associates, L.P.

      1633
        Bayshore Hwy, 

      Suite
        155, 

      Burlingame,
        California 94010

      Attention:
        Cullen Agler

      Telecopier
        No.: (650)
        652-2920

       

       

      
        	 	
                (b)

              	
                In
                  the case of Assignor:

              

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        Texas 75067

      Attention:
        President or General Counsel

      Telecopier
        No.: (469) 759-4714

       

      

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

       

      
        	 	
                (c)

              	
                In
                  the case of Assignee:

              

      

      Citibank,
        N.A.

      388
        Greenwich Street, 14th Floor

      New
        York,
        New York 10013

      Attention:
        Structured Finance Agency & Trust —BSARM 2006-4

      Telecopier
        No.: (212) 816-5527

       

      
        	 	
                (d)

              	
                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 2006-4

      Telecopier
        No.: (410) 715-2380

       

      The
        Company hereby acknowledges that Wells Fargo Bank, N.A. has been appointed
        as
        the master servicer of the Assigned Loans pursuant to the Pooling and Servicing
        Agreement and therefor has the right to enforce all obligations of the Company,
        as they relate to the Assigned Loans, under the PWS Agreement. Such right
        will
        include, without limitation, the right to terminate the Company under the
        PWS
        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 PWS
        Agreement, the right to receive all monthly reports and other data required
        to
        be delivered by the Company under the PWS 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 PWS Agreement,
        as
        they relate to the Assigned Loans, to the Master Servicer by wire transfer
        of
        immediately available funds to:

       

      Bear
        Stearns BSARM 2006-4 Master Servicer Collection Account

      Wells
        Fargo Bank, N.A.

      ABA#
        121000248

      Account
        Name: SAS Clearing 

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-4, Account # 50937700

       

      and
        the
        Company shall deliver all reports required to be delivered under the PWS
        Agreement, as they relate to the Assigned Loans, to the Assignee at the address
        set forth in Section 8(c) herein and to the Master Servicer at:

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      Wells
        Fargo Bank, N.A. 

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-4

      Telecopy
        No.: (410) 715-2380

       

      10. Each
        party will pay any commissions it has incurred and the fees of its attorneys
        in
        connection with the negotiations for, documenting of and closing of the
        transactions contemplated by this AAR Agreement.

       

      11. 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 Obligations Law), and the obligations, rights and remedies
        of
        the parties hereunder shall be determined in accordance with such
        laws.

       

      12. 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.

       

      13. 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.

       

      14. This
        AAR
        Agreement shall survive the conveyance of the Assigned Loans, the assignment
        of
        the PWS Agreement to the extent of the Assigned Loans by Assignor to Assignee
        and the termination of the PWS Agreement.

       

      15. 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.

       

      16. In
        the
        event that any provision of this AAR Agreement conflicts with any provision
        of
        the PWS Agreement with respect to the Assigned Loans, the terms of this AAR
        Agreement shall control. 

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      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: 

      

      CITIBANK,
        N.A.

      not
        individually but solely as trustee for the holders of BSARM Trust 2006-4,
        Mortgage Pass-Through Certificates, Series 2006-4,

      Assignee

      

      

      By:_______________________________      

      Name:  

      Title: 

       

      PROVIDENT
        FUNDING ASSOCIATES, L.P.,

       

      Company

       

      By:_______________________________      

      Name:

      Title:

       

      ACKNOWLEDGED:

      WELLS
        FARGO BANK, N.A.

      

      By:_______________________________      

      Name: 

      Title:

      

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      ATTACHMENT
        1

       

      ASSIGNED
        LOAN SCHEDULE

       

      (Available
        upon request)

       

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

       

      ATTACHMENT
        2

       

      AGREEMENTS

       

      (Available
        Upon Request)

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      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.

      

      

      Date:______________

      

      _____________________

      [Signature]

      [Title]

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      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

              	
                 

              
	
                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
        I-5

      

      US
        BANK
        ASSIGNMENT AGREEMENT

       

       

      ASSIGNMENT,
        ASSUMPTION AND RECOGNITION AGREEMENT

       

      This
        is
        an Assignment, Assumption and Recognition Agreement (this “AAR Agreement”) made
        as of September 29, 2006, among EMC Mortgage Corporation, having an address
        at
        2780 Lake Vista Drive, Lewisville, Texas 75067 (the “Assignor”), Citibank, N.A.,
        not individually but solely as Trustee for the holders of Bear Stearns ARM
        Trust, Mortgage Pass-Through Certificates, Series 2006-4, having an address
        at
        388 Greenwich Street, 14th Floor, New York, New York 10013 (the “Assignee”) and
        U.S. Bank, NA (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") purchased by the Assignor
        from
        the Company and now serviced by Company for Assignor and its successors and
        assigns pursuant to (a) the Purchase, Warranties and Servicing Agreement,
        dated
        as of March 1, 2003, as amended by Amendment No. 1 to the Purchase, Warranties
        and Servicing Agreement, dated as of January 1, 2006, between the Assignor
        and
        the Company (together, the “PWS Agreement”) and (b) the Term Sheet dated May 31,
        2006 between Assignor and Company (the “Term Sheet” and together with the PWS
        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 PWS Agreement.

       

      Assignment
        and Assumption

       

      Except
        as
        expressly provided for herein, the Assignor hereby grants, transfers and
        assigns
        to the Assignee all of its right, title and interest as in, to and under
        (a) the
        Assigned Loans and (b) the Agreements with respect to the Assigned Loans;
        provided, however, that the Assignor is not assigning to the Assignee any
        of its
        right, title or interest, in, to and under the PWS Agreement with respect
        to any
        mortgage loan other than the Assigned 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 PWS Agreement and the Assignor is retaining the right to enforce
        the
        representations and warranties 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 PWS Agreement or otherwise relating to the transaction contemplated
        herein (including, but not limited to, any obligation to indemnify the
        Assignee).

       

      Representations,
        Warranties and Covenants

       

      1. Assignor
        warrants and represents to Assignee and Company as of the date
        hereof:

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements which
        agreements are 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 PWS 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 and in the Mortgage Loan Purchase Agreement
        dated as of September 29, 2006 between the Assignor and Structured Asset
        Mortgage Investments II Inc. ("SAMI II"), 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 PWS 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 PWS 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 the 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; 

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      (h) 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;

       

      (i) The
        Assignor has received from Company, and has delivered to the Assignee, all
        documents required to be delivered to Assignor by the Company prior to the
        date
        hereof pursuant to the PWS Agreement with respect to the Assigned Loans and
        has
        not received, and has not requested from the Company, any additional documents;
        and 

       

      (j) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignor's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignor, would adversely affect
        Assignor's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignor's ability to perform its obligations under this
        AAR
        Agreement.

       

      2. 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 Assigned Loans as trustee on behalf of the holders of the Bear Stearns
        ARM Trust, Mortgage Pass-Through Certificates, Series 2006-4;

       

      (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;
        

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      (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; 

       

      (d) There
        is
        no action, suit, proceeding, investigation or litigation pending or, to
        Assignee's knowledge, threatened, which either in any instance or in the
        aggregate, if determined adversely to Assignee, would adversely affect
        Assignee's execution or delivery of, or the enforceability of, this AAR
        Agreement, or the Assignee's ability to perform its obligations under this
        AAR
        Agreement; and

       

      (e) Assignee
        assumes for the benefit of each of the Assignor and the Company all of the
        rights of the Purchaser under the PWS Agreement with respect to the Assigned
        Loans.

       

      3. Company
        warrants and represents to, and covenant with, Assignor and Assignee as of
        the
        date hereof:

       

      (a) Attached
        hereto as Attachment 2 are true and accurate copies of the Agreements, which
        agreements are 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
        PWS 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 charter 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 the 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; 

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      (e) The
        Company shall establish a Custodial Account and an Escrow Account under the
        PWS
        Agreement in favor of the Assignee with respect to the Assigned Loans separate
        from the Custodial Account and Escrow Account previously established under
        the
        PWS Agreement in favor of Assignor;

       

      (f) 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 the
        Company in Sections 3.01 and 3.02 of the PWS Agreement to be untrue in any
        material respect; 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 material fact necessary to make the
        statements contained therein not misleading.

       

      4. 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.

              

      

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      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

      

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      EMC
        Mortgage Corporation

      2780
        Lake
        Vista Drive

      Lewisville,
        TX 75067-3884

      Attention:
        Conduit Seller Approval Dept.

      Facsimile:
        (214) 626-3751

      Email:
        sellerapproval@bear.com

       

      5. 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.

       

      Recognition
        of Assignee

       

      6. From
        and
        after the date hereof, Company shall recognize Assignee as owner of the Assigned
        Loans, and acknowledges that the Assigned Loans are intended to be part of
        a
        REMIC or multiple REMICs, and will service the Assigned Loans in accordance
        with
        the PWS Agreement (as modified by this AAR Agreement) but in no event in
        a
        manner that would (i) cause any such intended REMIC to fail to qualify as
        a
        REMIC or (ii) result in the imposition of a tax upon any such intended 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 PWS Agreement which amendment, modification,
        waiver or other alteration would in any way affect the Assigned Loans without
        the prior written consent of Assignee.

       

      7. Notwithstanding
        any term hereof to the contrary, it is expressly understood and agreed by
        the
        parties hereto that (a) the execution and delivery of this AAR Agreement
        by the
        Assignee is solely in its capacity as trustee (the “Trustee”) for BSARM Trust
        2006-4, Mortgage Pass-Through Certificates, Series 2006-4 pursuant to the
        Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), dated
        as of September 1, 2006, among BSARM, the Assignor, the Assignee, Wells Fargo
        Bank, N,A, as master servicer (the “Master Servicer”) and as securities
        administrator, and not individually, (b) each of the representations,
        undertakings and agreements herein made on behalf of BSARM Trust 2006-4 (the
        “Trust”) is made and intended not as personal representations, undertakings and
        agreements of the Trustee but is made and intended for the purpose of binding
        only the Trust and (c) under no circumstances shall the Trustee be personally
        liable for the payment of any indebtedness or expenses of the Assignee or
        the
        Trust or be liable for the breach or failure of any obligation, representation,
        warranty or covenant made or undertaken by the Assignee, the Assignor or
        the
        Trust under this AAR Agreement or made or undertaken by the Assignee, the
        Assignor or the Trust under the Agreements or the Pooling and Servicing
        Agreement. 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 for BSARM Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      Modification
        of PWS Agreement

       

      8. 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:
        Citibank, N.A., as trustee for the holders of BSARM Trust 2006-4, Mortgage
        Pass-Through Certificates, Series 2006-4.

       

      Pooling
        and Servicing Agreement:
        That
        certain pooling and servicing agreement, dated as of September 1, 2006, among
        SAMI II, the Trustee, the Master Servicer and Securities Administrator and EMC
        Mortgage Corporation.

       

      SAMI
        II:
        Structured Asset Mortgage Investments II Inc.

       

      Securities
        Administrator:
        Wells
        Fargo Bank, N.A.

       

      Trustee:
        Citibank, N.A., or its successor in interest, or any successor trustee appointed
        as provided in the Pooling and Servicing Agreement.

       

      (b) The
        definition of Eligible Institution in Section 1.01 of the Servicing Agreement
        is
        hereby modified by adding the following proviso at the end of clause
        (i):

       

      “;
        provided, however, that U.S. Bank, N.A. shall be considered an Eligible
        Institution only if it maintains the same rating assigned to it as of the
        date
        hereof.”

       

      (c) Section
        11.18 of the PWS Agreement is hereby amended by deleting the indemnification
        provided therein and substituting the following provisions in lieu
        thereof:

       

      “Company
        shall indemnify and hold harmless the Assignor, each affiliate of the Assignor,
        SAMI II, the Assignee, Bear, Stearns & Co. Inc. (the “Underwriter”) and each
        affiliate of the Underwriter, each Person (including, but not limited to,
        the
        Master Servicer) responsible for the preparation, execution or filing of
        any
        report required to be filed with the Commission, or for execution of a
        certification pursuant to Rule 13a-14(d) or Rule 15d-14(d) under the Exchange
        Act, each Person who controls the Assignor, SAMI II, the Assignee or the
        Underwriter (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 (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:

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      (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 6.04, 6.07, 11.18 or 11.19 of the PWS Agreement
        by the Company or by another third-party at the direction of the Company,
        or
        provided under Sections 6.04, 6.07, 11.18 or 11.19 of the PWS Agreement by
        or at
        the direction 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 Sections 6.04, 6.07, 11.18
        or
        11.19 of PWS Agreement, 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 Sections 6.04, 6.07, 11.18 or 11.19 of the PWS Agreement,
        including any failure by the Company to identify 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
        3.01
        of the PWS Agreement or in a writing furnished pursuant to Section 3.01 of
        the
        PWS Agreement and made as of a date prior to the date hereof, to the extent
        that
        such breach is not cured by the date hereof, or any breach by the Company
        of a
        representation or warranty in a writing furnished pursuant to Section 3.01
        of
        the PWS Agreement to the extent made as of a date subsequent to the date
        hereof;
        or

       

      (iv)
        the
        negligence, bad faith or willful misconduct of the Company in connection
        with
        its performance under Sections 6.04, 6.07, 11.18 or 11.19 of the PWS
        Agreement.”

      

       

      Miscellaneous

       

      9. All
        demands, notices and communications related to the Assigned Loans, the PWS
        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:

                
                  U.S.
                    Bank, NA

                  1550
                    East 79th Street

                  Bloomington,
                    MN 55425

                  Attn:
                    Cheikh Faye

                

              

      

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      
        	 	
                (b)

              	
                In
                  the case of Assignor:

                
                  EMC
                    Mortgage Corporation

                  2780
                    Lake Vista Drive

                  Lewisville,
                    Texas 75067

                  Attention:
                    President or General Counsel

                  Telecopier
                    No.: (469) 759-4714

                  Email:
                    sellerapproval@bear.com

                

              

      

       

      
        	 	
                (c)

              	
                In
                  the case of Assignee:

                
                  Citibank,
                    N.A.,

                  388
                    Greenwich Street, 14th Floor

                  New
                    York, New York 10013

                  Attention:
                    Structured Finance Agency & Trust —BSARM 2006-4

                  Telecopier
                    No.: (212) 816-5527

                

              

      

       

      
        	 	
                (d)

              	
                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 2006-4

                  Telecopier
                    No.: (410) 715-2380

                

              

      

       

      10. The
        Company hereby acknowledges that Wells Fargo Bank, N.A. has been appointed
        as
        the master servicer of the Assigned Loans pursuant to the Pooling and Servicing
        Agreement and therefor has the right to enforce all obligations of the Company,
        as they relate to the Assigned Loans, under the PWS Agreement. Such right
        will
        include, without limitation, the right to terminate the Company under the
        PWS
        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 PWS
        Agreement, the right to receive all monthly reports and other data required
        to
        be delivered by the Company under the PWS 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 PWS Agreement,
        as
        they relate to the Assigned Loans, to the Master Servicer by wire transfer
        of
        immediately available funds to:

       

      Bear
        Stearns BSARM 2006-4 Master Servicer Collection Account

      Wells
        Fargo Bank, N.A.

      ABA#
        121000248

      Account
        Name: SAS Clearing 

      Account
        #
        3970771416

      For
        Further Credit to: BSARM 2006-4, Account # 50937700

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      and
        the
        Company shall deliver all reports required to be delivered under the PWS
        Agreement, as they relate to the Assigned Loans, to the Assignee at the address
        set forth in Section 8(c) herein and to the Master Servicer at:

       

      Wells
        Fargo Bank, N.A. 

      9062
        Old
        Annapolis Road

      Columbia,
        Maryland 21045

      Attention:
        Client Manager BSARM 2006-4

      Telecopy
        No.: (410) 715-2380

       

      11. Each
        party will pay any commissions it has incurred and the fees of its attorneys
        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 (other than Section 5-1401
        of the New York 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 PWS Agreement to the extent of the Assigned Loans by Assignor to Assignee
        and the termination of the PWS 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 PWS Agreement with respect to the Assigned Loans, the terms of this AAR
        Agreement shall control. 

      

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      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:
        

      

      CITIBANK,
        N.A.,

      not
        individually but solely as trustee for the holders of BSARM Trust 2006-4,
        Mortgage Pass-Through Certificates, Series 2006-4,

      Assignee

      

      

      
        By:__________________________________

        Name:

        Title:

         

         

      

      U.S.
        BANK, NA,

      Company

       

      
        By:__________________________________

        Name:

        Title:

         

      

      ACKNOWLEDGED:

      WELLS
        FARGO BANK, NATIONAL ASSOCIATION

      

      

      
        By:__________________________________

        Name:

        Title:

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ATTACHMENT
        1

       

      ASSIGNED
        LOAN SCHEDULE

       

      (Available
        upon request)

       

       

      

       

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

       

      ATTACHMENT
        2

       

      AGREEMENTS

       

      (Available
        Upon Request)

       

       

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        J

       

      FORM
        OF
        MORTGAGE LOAN PURCHASE AGREEMENT

      MORTGAGE
        LOAN PURCHASE AGREEMENT

       

      between

       

      EMC
        MORTGAGE CORPORATION

       

      as
        Mortgage Loan Seller

       

      and

       

      STRUCTURED
        ASSET MORTGAGE INVESTMENTS II INC.

       

      as
        Purchaser

       

      Dated
        as
        of

       

      September
        29, 2006

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      TABLE
        OF CONTENTS

      

      
        	 	
                Page

              
	
                SECTION
                  1. Definitions

              	
                1

              
	
                SECTION
                  2. Purchase and Sale of the Mortgage Loans and Related
                  Rights.

              	
                3

              
	
                SECTION
                  3. Mortgage Loan Schedule

              	
                4

              
	
                SECTION
                  4. Mortgage Loan Transfer.

              	
                4

              
	
                SECTION
                  5. Examination of Mortgage Files.

              	
                6

              
	
                SECTION
                  6. Recordation of Assignments of Mortgage.

              	
                8

              
	
                SECTION
                  7. Representations and Warranties of Mortgage Loan Seller Concerning
                  the
                  Mortgage Loans

              	
                9

              
	
                SECTION
                  8. Representations and Warranties Concerning the Mortgage Loan
                  Seller

              	
                14

              
	
                SECTION
                  9. Representations and Warranties Concerning the Purchaser

              	
                15

              
	
                SECTION
                  10. Conditions to Closing.

              	
                16

              
	
                SECTION
                  11. Fees and Expenses

              	
                18

              
	
                SECTION
                  12. Accountants’ Letters.

              	
                18

              
	
                SECTION
                  13. Indemnification.

              	
                19

              
	
                SECTION
                  14. Notices

              	
                20

              
	
                SECTION
                  15. Transfer of Mortgage Loans

              	
                21

              
	
                SECTION
                  16. Termination

              	
                21

              
	
                SECTION
                  17. Representations, Warranties and Agreements to Survive
                  Delivery

              	
                21

              
	
                SECTION
                  18. Severability

              	
                21

              
	
                SECTION
                  19. Counterparts

              	
                21

              
	
                SECTION
                  20. Amendment

              	
                21

              
	
                SECTION
                  21. GOVERNING LAW

              	
                21

              
	
                SECTION
                  22. Further Assurances

              	
                22

              
	
                SECTION
                  23. Successors and Assigns.

              	
                22

              
	
                SECTION
                  24. The Mortgage Loan Seller

              	
                22

              
	
                SECTION
                  25. Entire Agreement

              	
                22

              
	
                SECTION
                  26. No Partnership

              	
                22

              

      

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBITS
        AND SCHEDULE TO

      MORTGAGE
        LOAN PURCHASE AGREEMENT

       

      
        	
                Exhibit
                  1

              	
                Contents
                  of Mortgage File

              
	
                Exhibit
                  2

              	
                Mortgage
                  Loan Schedule Information

              
	
                Exhibit
                  3

              	
                Mortgage
                  Loan Seller’s Information

              
	
                Exhibit
                  4

              	
                Purchaser’s
                  Information

              
	
                Exhibit
                  5

              	
                Schedule
                  of Lost Notes

              
	
                Exhibit
                  6

              	
                Appendix
                  E - Standard & Poor’s Anti-Predatory Lending
                  Categorization

              
	
                Schedule
                  A

              	
                Required
                  Ratings for Each Class of Certificates

              
	
                Schedule
                  B

              	
                Mortgage
                  Loan Schedule

              

      

      

      
        
          
          

        

        
          -
            2 -

          
            

          

        

        
          
          

        

      

      MORTGAGE
        LOAN PURCHASE AGREEMENT

       

      MORTGAGE
        LOAN PURCHASE AGREEMENT, dated as of September 29, 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 2006-4, Mortgage Pass-Through Certificates,
        Series
        2006-4 (the “Certificates”),
        under
        a pooling and servicing agreement, to be dated as of September 1, 2006 (the
        “Pooling
        and Servicing Agreement”),
        among
        the Purchaser, as depositor, Wells Fargo Bank, N.A., as master servicer and
        securities administrator, Citibank, N.A., as trustee (the “Trustee”)
        and
        EMC Mortgage Corporation, as seller and company.

       

      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 September 28, 2006, to the Prospectus, dated
        August
        31, 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 September 28, 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:

       

      SECTION
        1. Definitions.
        Certain
        terms are defined herein. Capitalized terms used herein but not defined herein
        shall have the meanings specified in the Pooling and Servicing Agreement.
        The
        following other terms are defined as follows:

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      Acquisition
        Price:
        Cash in
        an amount equal to $______ (plus $______ in accrued interest).

       

      Bear
        Stearns:
        Bear,
        Stearns & Co. Inc.

       

      Closing
        Date:
        September 29, 2006.

       

      Cut-off
        Date:
        September 1, 2006.

       

      Cut-off
        Date Balance:
        $1,316,895,613.27.

       

      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.

       

      EMC:
        EMC
        Mortgage Corporation.

       

      EMC
        Flow Loans:
        The
        Mortgage Loans purchased by EMC pursuant to a flow loan purchase
        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.

       

      
        
          

        

        1
          Please
          contact Bear, Stearns & Co. Inc. for Purchase Price.

      

       

      
        
          
          

        

        
          2

          
            

          

        

        
          
          

        

      

      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
        2. Purchase
        and Sale of the Mortgage Loans and Related Rights.  

       

      
        
          
          

        

        
          3

          
            

          

        

        
          
          

        

      

      (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
        3. Mortgage
        Loan Schedule.  The
        Mortgage Loan Seller agrees to provide to the Purchaser as of the date hereof
        a
        listing of the Mortgage Loans (the “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. 

       

      SECTION
        4. Mortgage
        Loan Transfer.
        

       

      (a) The
        Purchaser will be entitled to all scheduled payments of principal and interest
        on the Mortgage Loans due after the Cut-off Date (regardless of when actually
        collected) and all payments 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 Mortgage Loan Schedule.

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      (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 the respective Custodian’s 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 (other than the Security Instrument related to the EMC
        Flow
        Loans), 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 or the Master Servicer, on the face of such copy,
        substantially as follows: “Certified to be a true and correct copy of the
        original, which has been transmitted for recording;” (ii) in lieu of the
        Security Instrument (other than the Security Instrument related to the EMC
        Flow
        Loans), 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 or the Custodian, on its behalf, 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 Distribution 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, or the related
        Custodian on behalf of 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.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      (d) The
        Mortgage Loan Seller and the Purchaser acknowledge hereunder that all of
        the
        Mortgage Loans and the related servicing will ultimately be assigned to
        Citibank, N.A., as Trustee for the Certificateholders, on the date
        hereof.

       

      SECTION
        5. 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 respective
        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.

       

      
        
          
          

        

        
          6

          
            

          

        

        
          
          

        

      

      (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 respective Custodian thereof), the Trustee
        will
        review or shall cause the respective 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 respective 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 Mortgage Loan Schedule or to appear defective on
        its
        face (a “Material
        Defect”),
        the
        Trustee or the respective 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 respective 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 respective
        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 respective Custodian thereof) the Trustee will
        review or cause the respective 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 respective Custodian, as its agent, finds a
        Material Defect, the Trustee or the respective 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 respective 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 respective
        Custodian, as its agent, shall be effected by the Mortgage Loan Seller within
        thirty days of its receipt of the original recorded document.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      (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 respective 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 respective 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
        6. 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 respective 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.

       

      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.

       

      
        
          
          

        

        
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      (b) 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
        7. 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;

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      (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;

       

      
        
          
          

        

        
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      (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);

       

      
        
          
          

        

        
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      (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

       

      
        
          
          

        

        
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      (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.

       

      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.

       

      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.

       

      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.

       

      
        
          
          

        

        
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      SECTION
        8. 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:

       

      (a) 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;

       

      (b) 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;

       

      (c) 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;

       

      (d) 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;

       

      (e) 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);

       

      (f) 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

       

      
        
          
          

        

        
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      (g) 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
        9. Representations
        and Warranties Concerning the Purchaser.  As
        of the date hereof and as of the Closing Date, the Purchaser represents and
        warrants to the Mortgage Loan Seller as follows:

       

      (a) 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;

       

      (b) 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;

       

      (c) 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;

       

      (d) 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;

       

      (e) 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);

       

      
        
          
          

        

        
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      (f) there
        are
        no actions, suits or proceedings pending or, to the knowledge of the Purchaser,
        threatened against the Purchaser, before or by any court, administrative
        agency,
        arbitrator or governmental body (i) with respect to any of the transactions
        contemplated by this Agreement or (ii) with respect to any other matter which
        in
        the judgment of the Purchaser 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

       

      (g) 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
        10. 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:

       

      (i) 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.

       

      (ii) 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:

       

      (1) 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;

       

      (2) 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;

       

      
        
          
          

        

        
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      (3) 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;

       

      (4) 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

       

      (5) 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.

       

      (iii) 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.

       

      (iv) 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.

       

      (b) 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:

       

      (i) 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.

       

      (ii) 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:

       

      (1) 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;

       

      (2) 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;

       

      (3) One
        or
        more opinions of counsel from the Purchaser’s counsel in form and substance
        reasonably satisfactory to the Mortgage Loan Seller;

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      (4) 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
        11. 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
        respective 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
        12. Accountants’
        Letters.  

       

      (a) Deloitte
        & Touche LLP will review the characteristics of a sample of the Mortgage
        Loans described in the 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”, “The Sponsor” 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.

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      SECTION
        13. 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 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; 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.

       

      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.

       

      (b) 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; 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,

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      (c) Promptly
        after receipt by an indemnified party under subsection (a) or (b) above of
        notice of the commencement of any action, such indemnified party shall, if
        a
        claim in respect thereof is to be made against the indemnifying party under
        such
        subsection, notify each party against whom indemnification is to be sought
        in
        writing of the commencement thereof (but the failure so to notify an
        indemnifying party shall not relieve it from any liability which it may have
        under this Section 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.

       

      (d) 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.

       

      (e) The
        parties hereto agree that reliance by an indemnified party on any publicly
        available information or any information or directions furnished by an
        indemnifying party shall not constitute negligence, bad faith or willful
        misconduct by such indemnified party.

       

      SECTION
        14. 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, TX 75067, Attention: President (Telecopy: (469)
        759-4714), 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.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      SECTION
        15. 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
        16. 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
        17. 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 Mortgage Loan Schedule
        and any Substitute Mortgage Loan.

       

      SECTION
        18. 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
        19. 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
        20. Amendment.  This
        Agreement cannot be amended or modified in any manner without the prior written
        consent of each party.

       

      SECTION
        21. 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.

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      SECTION
        22. 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
        23. 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
        24. 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
        25. 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
        26. 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]

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      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:

                	 
	 	
                  Title:

                   

                	 

        

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      EXHIBIT
        1

       

      CONTENTS
        OF MORTGAGE FILE

       

      With
        respect to each Mortgage Loan, the Mortgage File shall include each of the
        following items, which shall be available for inspection by the Purchaser
        or its
        designee, and which shall be delivered to the Purchaser or its designee pursuant
        to the terms of the Agreement.

       

      (a) with
        respect to each Mortgage Loan:

       

      (i) 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;

       

      (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, for Mortgage Loans other than the
        EMC
        Flow Loans, 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 Mortgage Loan 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);

       

      (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 “Citibank, N.A., 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 Mortgage Loan Seller
        in
        time to permit their delivery as specified in Section 2.01(b) of the Pooling
        and
        Servicing Agreement, 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” 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);

       

      (iv) 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;

       

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

       

      
        
          
          

        

        
          E-1-1

          
            

          

        

        
          
          

        

      

      (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.

       

      
        
          
          

        

        
          E-1-2

          
            

          

        

        
          
          

        

      

      EXHIBIT
        2

       

      MORTGAGE
        LOAN SCHEDULE INFORMATION

       

      The
        Mortgage Loan Schedule 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;

       

      
        
          
          

        

        
          E-2-1

          
            

          

        

        
          
          

        

      

      (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.

       

      
        
          
          

        

        
          E-2-2

          
            

          

        

        
          
          

        

      

      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,”
“THE SPONSOR” and “SCHEDULE A — CERTAIN CHARACTERISTICS OF THE MORTGAGE
        LOANS.”

       

      
        
          
          

        

        
          E-3-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        4

       

      PURCHASER’S
        INFORMATION

       

      All
        information in the Prospectus Supplement and the Prospectus, except the Mortgage
        Loan Seller’s Information.

       

      
        
          
          

        

        
          E-4-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        5

       

      SCHEDULE
        OF LOST NOTES

       

      Available
        Upon Request

      

      
        
          
          

        

        
          E-5-1

          
            

          

        

        
          
          

        

      

      EXHIBIT
        6

      

      APPENDIX
        E - STANDARD & POOR’S ANTI PREDATORY LENDING CATEGORIZATION

       

      REVISED
        April 18, 2006

      

      APPENDIX
        E - Standard & Poor’s Predatory Lending Categories

       

      Standard
        & Poor’s has categorized loans governed by anti-predatory lending laws in
        the Jurisdictions listed below into three categories based upon a combination
        of
        factors that include (a) the risk exposure associated with the assignee
        liability and (b) the tests and thresholds set forth in those laws. Note
        that
        certain loans classified by the relevant statute as Covered are included
        in
        Standard & Poor’s High Cost Loan Category because they included thresholds
        and tests that are typical of what is generally considered High Cost by the
        industry.

       

      Standard
        & Poor’s High Cost Loan Categorization

      
         

        
          	
                  State/Jurisdiction

                	
                  Name
                    of Anti-Predatory Lending

                  Law/Effective
                    Date

                	
                  Category
                    under

                  Applicable
                    Anti- 

                  Predatory
                    Lending Law

                
	
                  Arkansas

                	
                  Arkansas
                    Home Loan Protection Act,

                  Ark.
                    Code Ann. §§ 23-53-101 et
                    seq.

                   

                  Effective
                    July 16, 2003

                	
                  High
                    Cost Home Loan

                
	
                  Cleveland
                    Heights, OH

                	
                  Ordinance
                    No. 72-2003 (PSH), Mun.

                  Code
                    §§ 757.01 et
                    seq.

                   

                  Effective
                    June 2, 2003

                	
                  Covered
                    Loan

                
	
                  Colorado

                	
                  Consumer
                    Equity Protection, Colo. Stat.

                  Ann.
                    §§ 5-3.5-101 et
                    seq.

                   

                  Effective
                    for covered loans offered or entered into on or after January
                    1, 2003.
                    Other provisions of the Act took effect on June 7, 2002

                	
                  Covered
                    Loan

                
	
                  Connecticut

                	
                  Connecticut
                    Abusive Home Loan

                  Lending
                    Practices Act, Conn. Gen. Stat.

                  §§
                    36a-746 et
                    seq.

                   

                  Effective
                    October 1, 2001

                	
                  High
                    Cost Home Loan

                
	
                  District
                    of Columbia

                	
                  Home
                    Loan Protection Act, D.C. Code

                  §§
                    26-1151.01 et
                    seq.

                   

                  Effective
                    for loans closed on or after January 28, 2003

                	
                  Covered
                    Loan

                

        

         

        
          
            
            

          

          
            E-6-1

            
              

            

          

          
            
            

          

        

        
          	
                  Florida

                	
                  Fair
                    Lending Act, Fla. Stat. Ann. §§

                  494.0078
                    et
                    seq.

                  Effective
                    October 2, 2002

                	
                  High
                    Cost Home Loan

                

        

        

        
          
            
            

          

          
            E-6-2

            
              

            

          

          
            
            

          

        

        
          	
                  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

                	
                  High
                    Cost Home Loan

                
	
                  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

                

        

         

        
          
            
            

          

          
            E-6-3

            
              

            

          

          
            
            

          

        

        
          	
                  State/Jurisdiction

                	
                  Name
                    of Anti-Predatory Lending

                  Law/Effective
                    Date

                	
                  Category
                    under

                  Applicable
                    Anti- 

                  Predatory
                    Lending Law

                
	
                  Massachusetts

                	
                  Part
                    40 and Part 32, 209 C.M.R. §§

                  32.00
                    et
                    seq.
                    and 209 C.M.R. §§ 40.01 et
                    seq.

                   

                  Effective
                    March 22, 2001 and amended from time to time

                	
                  High
                    Cost Home Loan

                
	
                  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 6-1

                   

                  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

                

        

         

        
          
            
            

          

          
            E-6-4

            
              

            

          

          
            
            

          

        

        
          	
                  State/Jurisdiction

                	
                  Name
                    of Anti-Predatory Lending

                  Law/Effective
                    Date

                	
                  Category
                    under

                  Applicable
                    Anti- 

                  Predatory
                    Lending Law

                
	
                  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

                	
                  High
                    Cost Home Loan

                
	
                  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

                

        

         

        
          
            
            

          

          
            E-6-5

            
              

            

          

          
            
            

          

          
            	
                    State/Jurisdiction

                  	
                    Name
                      of Anti-Predatory Lending

                    Law/Effective
                      Date

                  	
                    Category
                      under

                    Applicable
                      Anti- 

                    Predatory
                      Lending Law

                  

          

        

        
          	
                  New
                    Jersey

                	
                  New
                    Jersey Home Ownership Security

                  Act
                    of 2002, N.J. Rev. Stat. §§ 46:10B- 22 et
                    seq.

                   

                  Effective
                    for loans closed on or after November 27, 2003

                	
                  Home
                    Loan

                
	
                  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 

                

        

        

        
          
            
            

          

          
            E-6-6

            
              

            

          

          
            
            

          

        

        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-X-1

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    II-A-2

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    II-A-3

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    II-X-3

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    III-A-1

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    III-A-2

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    III-X

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    IV-A-1

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    IV-A-2

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    IV-A-3

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    IV-A-4

                   

                	 	
                  AAA

                   

                	 	
                  AAA

                   

                
	
                  Class
                    IV-X

                   

                	 	
                  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.

         

        
          
            
            

          

          
            A-1

            
              

            

          

          
            
            

          

        

        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.

         

        
          
            
            

          

          
            A-2

            
              

            

          

          
            
            

          

        

        SCHEDULE
          B

         

        MORTGAGE
          LOAN SCHEDULE

         

        [Provided
          upon request]

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        

         

        

        EXHIBIT
          K

         

        

         

        [RESERVED]

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

         

        EXHIBIT
          L

         

        EXHIBIT
          L

        

        

        FORM
          OF
          CERTIFICATION TO BE

        PROVIDED
          BY THE SECURITIES ADMINISTRATOR TO DEPOSITOR

        

        
          	 	
                  Re:

                	
                  ________________________________
                    Trust 200_-____(the “Trust”), Mortgage Pass-Through Certificates, Series
                    200_-____, issued pursuant to the Pooling and Servicing Agreement,
                    dated
                    as of ________ 1, 200_, among ____________________________, as
                    Depositor,
                    Wells Fargo Bank, National Association, as Securities Administrator
                    and
                    ___________________________________________________________

                

        

        

        The
          Securities Administrator hereby certifies to the Depositor, and its officers,
          directors and affiliates, and with the knowledge and intent that they will
          rely
          upon this certification, that:

        

        (1) I
          have
          reviewed the annual report on Form 10-K for the fiscal year [____] (the
“Annual
          Report”), and all reports on Form 10-D required to be filed in respect of period
          covered by the Annual Report (collectively with the Annual Report, the
          “Reports”), of the Trust;

        

        (2) To
          my
          knowledge, (a) the Reports, taken as a whole, do 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 with respect to the period covered by the Annual
          Report, and (b) the Securities Administrator’s assessment of compliance and
          related attestation report referred to below, taken as a whole, do 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 with respect to the period covered
          by
          such assessment of compliance and attestation report;

        

        (3) To
          my
          knowledge, the distribution information required to be provided by the
          Securities Administrator under the Pooling and Servicing Agreement for
          inclusion
          in the Reports is included in the Reports;

        

        (4) I
          am
          responsible for reviewing the activities performed by the Securities
          Administrator under the Pooling and Servicing Agreement, and based on my
          knowledge and the compliance review conducted in preparing the compliance
          statement of the Securities Administrator required by the Pooling and Servicing
          Agreement, and except as disclosed in the Reports, the Securities Administrator
          has fulfilled its obligations under the Pooling and Servicing Agreement
          in all
          material respects; and

        

        (5) The
          report on assessment of compliance with servicing criteria applicable to
          the
          Securities Administrator for asset-backed securities of the Securities
          Administrator and each Subcontractor utilized by the Securities Administrator
          and related attestation report on assessment of compliance with servicing
          criteria applicable to it required to be included in the Annual Report
          in
          accordance with Item 1122 of Regulation AB and Exchange Act Rules 13a-18
          and
          15d-18 has been included as an exhibit to the Annual Report. Any material
          instances of non-compliance are described in such report and have been
          disclosed
          in the Annual Report.

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        

        In
          giving
          the certifications above, the Securities Administrator has reasonably relied
          on
          information provided to it by the following unaffiliated parties: [names
          of
          servicer(s), master servicer, subservicer, depositor, trustee,
          custodian(s)]

        

        

        Date:_______________________________     

        

        ___________________________________      

        [Signature]

        [Title]

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        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

                	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Reg
                    AB Reference

                	
                  Servicing
                    Criteria

                	
                  Primary
                    Servicer

                	
                  Master
                    Servicer

                	
                  Securities
                    Admin

                	
                  Custodian

                	
                  Trustee
                    (nominal)

                
	 	
                  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

                	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Reg
                    AB Reference

                	
                  Servicing
                    Criteria

                	
                  Primary
                    Servicer

                	
                  Master
                    Servicer

                	
                  Securities
                    Admin

                	
                  Custodian

                	
                  Trustee
                    (nominal)

                
	
                  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

                	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Reg
                    AB Reference

                	
                  Servicing
                    Criteria

                	
                  Primary
                    Servicer

                	
                  Master
                    Servicer

                	
                  Securities
                    Admin

                	
                  Custodian

                	
                  Trustee
                    (nominal)

                
	
                  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

                	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Reg
                    AB Reference

                	
                  Servicing
                    Criteria

                	
                  Primary
                    Servicer

                	
                  Master
                    Servicer

                	
                  Securities
                    Admin

                	
                  Custodian

                	
                  Trustee
                    (nominal)

                
	
                  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

                	 	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Reg
                    AB Reference

                	
                  Servicing
                    Criteria

                	
                  Primary
                    Servicer

                	
                  Master
                    Servicer

                	
                  Securities
                    Admin

                	
                  Custodian

                	
                  Trustee
                    (nominal)

                
	
                  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)

                	 	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	 	
                  (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

                	 	 	 	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	 	
                  (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

                

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	 	
                  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

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	
                  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

                	 
	
                  Obtain
                    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

                	 	 	 	 
	
                  Notify
                    derivative counterparty of significance percentage and request
                    required
                    financial information

                	 	 	
                  X

                	 	 	 	 
	
                  Obtain
                    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.

                	 	 	 	 	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	
                  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

                

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	
                  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

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	 	
                  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.

                

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	
                  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

                	 
	
                  Obtain
                    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

                	 	 	 	 
	
                  Notify
                    derivative counterparty of significance percentage and request
                    required
                    financial information

                	 	 	
                  X

                	 	 	 	 
	
                  Obtain
                    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

                	 	 	 	 	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Servicers

                	
                  Master
                    Servicer

                	
                  Securities
                    Administrator

                	
                  Custodian

                	
                  Trustee

                	
                  Depositor

                	
                  Sponsor

                
	 	 	
                  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] 

         

        9062
          Old
          Annapolis Road

         

        Columbia,
          Maryland 21045

         

        Fax:
          (410) 715-2380

         

        E-mail:
          cts.sec.notifications@wellsfargo.com

         

        Attn:
          Corporate Trust Services - BSARM 2006-4-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
          September 1, 2006, among Structured Asset Mortgage Investments II Inc.,
          a
          Delaware corporation, as depositor (the “Depositor”), Citibank, N.A., 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
      10.1

    

    AMENDMENT
      NO. 3

    TO
      

    TERM
      LOAN AGREEMENT

    

    

    This
      AMENDMENT NO. 3 TO TERM LOAN AGREEMENT (this “Amendment”)
      is
      dated to be effective as of May 1, 2006, and is entered into between NUWAY
      MEDICAL, INC., a corporation organized under the laws of the state of Delaware
      (the “Borrower”),
      and
      AUGUSTINE II, LLC, a limited liability company formed under the laws of the
      State of Delaware (the “Lender”).
      

    BACKGROUND:

    

    Borrower
      and Lender are parties to that certain Term Loan Agreement dated as of June
      10,
      2003, as amended by that certain Amendment No. 1 to Term Loan Agreement dated
      effective March 30, 2004, and as amended by that certain Amendment No. 2 to
      Term
      Loan Agreement dated effect July 29, 2005 (the Term Loan Agreement, as so
      amended, the “Agreement”).
      Pursuant to the Agreement, Borrower and Lender have also entered into that
      certain Pledge Agreement dated as of June 10, 2003 (the “Pledge
      Agreement”),
      and
      Borrower previously has delivered to Lender an Amended and Restated Convertible
      Term Note, a Second Amended and Restated Convertible Term Note (the
“Existing
      Note”)
      an
      Amended and Restated Warrant to Purchase Common Stock No. AG-1, dated March
      30,
      2004, and a second Warrant to Purchase Common Stock No. AG-II dated July 29,
      2005 (collectively, the “Existing
      Warrants”),
      (the
      Pledge Agreement, Existing Note and Existing Warrants, together with the
      Agreement, the “Loan
      Documents”).
      Borrower has requested that Lender extend the maturity date of the term loan
      evidenced by the Loan Documents.

    

    Capitalized
      terms used herein shall have the meanings ascribed to such terms in the
      Agreement.

    

    NOW
      THEREFORE,
      in
      consideration of the foregoing and for other good and valuable consideration,
      the receipt and sufficiency of which is hereby acknowledged:

    

    1. Extension
      of Maturity Date.
      The
      Term Loan Maturity Date is hereby extended to May
      1, 2007,
      and the
      last sentence of Section 1.2 of the Agreement is amended accordingly.

    

    2. Amended
      Note.
      The
      Existing Note shall be replaced by the Third Amended and Restated Term Note
      in
      the form attached hereto as Exhibit A (the “Third
      Amended Note”),
      and
      upon delivery of the executed Amended Note to Lender, Lender shall deliver
      the
      Existing Note to Borrower. Thereafter, all references in the Agreement to “Term
      Note” shall be deemed to be references to the Amended Note.

    

    

    
      
         

      

      
        4

        
          

        

      

      
         

      

    

    3. Representations,
      Warranties and Covenants.
      

    

    The
      representations of Borrower in the Agreement and the other Loan Documents,
      as
      amended hereby, are true and correct as of the date hereof as though each of
      said representations and warranties was made on the date hereof except for
      those
      representations and warranties which are made as of a specified date in the
      applicable Loan Document.

    

    4. Amendment
      Supplementary.
      This
      Amendment, the Second Amended Note and the Second Warrant are supplementary
      to
      the Loan Documents. All of the provisions of the Loan Documents, including
      without limitation the right to declare principal and accrued interest due
      for
      any cause specified in the Loan Documents, shall remain in full force and effect
      except as expressly modified. The Agreement and the other Loan Documents and
      all
      rights and powers created thereby and thereunder or under such other documents
      are in all respects ratified and confirmed. From and after the date hereof,
      the
      Agreement and the other Loan Documents shall be deemed to be amended and
      modified as herein provided, but, except as so amended and modified, the
      Agreement and the other Loan Documents shall continue in full force and effect
      and the Agreement, the other Loan Documents, this Amendment, the Second Amended
      Note and the Second Warrant shall be read, taken and construed as one and the
      same instrument. On
      and
      after the date hereof, any references in the Loan Documents to the Agreement
      shall mean the Agreement as amended hereby, any references to the Note shall
      mean the Second Amended Note and any references to the Warrant shall mean the
      Existing Warrant and the Second Warrant. 

    

    5. Waiver
      of Claims.
      Borrower hereby acknowledges, agrees and affirms that it possesses no claims,
      defenses, offsets, recoupment or counterclaims of any kind or nature against
      or
      with respect to the enforcement of the Agreement, or any other Loan Document
      or
      any amendments thereto (collectively, the "Claims"),
      nor
      does Borrower now have knowledge of any facts that would or might give rise
      to
      any Claims. If facts exist as of the date of this Amendment which would or
      could
      give rise to any Claim against or with respect to the enforcement of the
      Agreement, or any other Loan Document, as amended by the amendments and/or
      restatements thereto, Borrower hereby unconditionally, irrevocably and
      unequivocally waives and fully releases any and all such Claims as if such
      Claims were the subject of a lawsuit, adjudicated to final judgment from which
      no appeal could be taken and therein dismissed with prejudice. In furtherance
      of
      the intention of the parties, Borrower hereby expressly waives any and all
      rights conferred upon it by the provisions of any applicable law which would
      provide that "A general release does not extend to claims which the creditor
      does not know or suspect to exist in his favor at the time of executing the
      release which, if known by him, must have materially affected his settlement
      with the debtor.” Borrower hereby understands and acknowledges the significance
      and consequences of the foregoing release and waiver.

    

    6. Representation
      by Counsel.
      Borrower hereby represents that it has been represented by competent counsel
      of
      its choice in the negotiation and execution of this Amendment; that it has
      read
      and fully understands the terms hereof, that Borrower and its counsel have
      been
      afforded an opportunity to review, negotiate and modify the terms of this
      Amendment, and that it intends to be bound hereby.

    

    
      
         

      

      
        5

        
          

        

      

      
         

      

    

    7. Counterparts.
      This
      Amendment may be executed in one or more counterparts, which counterparts,
      when
      taken together and collated shall constitute one agreement.

    

    IN
      WITNESS WHEREOF,
      the
      parties have caused this Amendment No. 3 to Term Loan Agreement to be duly
      executed effective as of the day and year first above written.

    

    NUWAY
      MEDICAL, INC.

    

    

    By:    
      /s/
      Dennis Calvert_________

                              
      Dennis Calvert, President

    

    

    AUGUSTINE
      II, LLC

    

    
      	 	
              By:

            	
              AUGUSTINE
                CAPITAL

              MANAGEMENT,
                L.L.C., its

              manager

            

    

    

    By:
      /s/
      Thomas F. Duszynski____

    

    Its:
      ____Manager/Member_____

     

                                    
            
    10/18/06

     

    

    
      
         

      

      
        6

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