Document:

AMENDMENT NO. 1 TO ASSIGNMENT AND ASSUMPTION AGREEMENT

This AMENDMENT NO. 1 TO ASSIGNMENT AND ASSUMPTION AGREEMENT, dated as of February 26, 2007 (this “Amendment”), is among RESIDENTIAL FUNDING COMPANY, LLC, a Delaware limited liability company (“RFC”), DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, in its capacity as trustee for the RALI Series 2006-QO9 Trust and grantor trust trustee for RALI Grantor Trust I-A, Series 2006-QO9 (the “Trustee”), and RESIDENTIAL ACCREDIT LOANS, INC., a Delaware corporation (the “Company”).  Capitalized terms used in this Agreement and not otherwise defined will have the meanings assigned to them in the Assignment and Assumption Agreement dated as of November 29,
2006 (the “Existing Agreement”), between RFC and the Trustee, in its capacity as trustee for the RALI Series 2006-QO9 Trust and grantor trust trustee for RALI Grantor Trust I-A, Series 2006-QO9, as assignee of the Company. 

Recitals

A.    RFC and the Company entered into the Existing Agreement, and the Company assigned its rights under the Existing Agreement to the Trustee for the benefit of the Certificateholders pursuant to the Pooling and Servicing Agreement dated as of November 1, 2006, among RFC, the Company and the Trustee.

B.           A Certificateholder has requested that RFC, the Company and the Trustee amend the Existing Agreement to provide for additional representations and warranties from RFC, and RFC has agreed to provide such additional representations and warranties.

C.           RFC, the Company and the Trustee desire to amend the Existing Agreement as set forth below.

NOW, THEREFORE, the parties hereto agree as follows:

	
             
 	
            SECTION 1.
 	
            Amendments.
 

 

(a)          Section 4 of the Existing Agreement is hereby amended by inserting the following after clause (rr) of Section 4:

(ss)  With respect to each Group II Loan, no borrower obtained a prepaid single-premium credit-life, credit disability, credit unemployment or credit property insurance policy in connection with the origination of the Group II Loan.

(tt)  No refinance or purchase money Group II Loan in the trust has an annual percentage rate or total points and fees that exceed the thresholds set by the Home Ownership and Equity Protection Act of 1994 (“HOEPA”) and its implementing regulations, including 12 CFR § 226.32(a)(1)(i) and (ii).

 

 

 

(b)          The last paragraph of Section 4 of the Existing Agreement is hereby amended by replacing such last paragraph in its entirety with the following:

Upon discovery by RFC or upon notice from the Company or the Trustee of a breach of the foregoing representations and warranties in respect of any Mortgage Loan which materially and adversely affects the interests of any holders of the Certificates or of the Company in such Mortgage Loan or upon the occurrence of a Repurchase Event (hereinafter defined), notice of which breach or occurrence shall be given to the Company by RFC, if it discovers the same, RFC shall, within 90 days after the earlier of its discovery or receipt of notice thereof, either cure such breach or Repurchase Event in all material respects or, either (i) purchase such Mortgage Loan from the Trustee or the Company, as the case may be, at a price equal to the Purchase Price for such Mortgage Loan or (ii) substitute a Qualified Substitute Mortgage Loan or Loans for such Mortgage Loan in the manner and
subject to the limitations set forth in Section 2.04 of the Pooling and Servicing Agreement.  Notwithstanding the foregoing, it is understood by the parties hereto that a breach of the representations and warranties made in any of clause (bb), (cc), (dd), (ee) and (gg) through (tt) of this Section 4 with respect to any Group II Loan will be deemed to materially and adversely affect the interests of the Holders of the Certificates in the related Mortgage Loan.  If the breach of representation and warranty that gave rise to the obligation to repurchase or substitute a Mortgage Loan pursuant to this Section 4 was the representation and warranty set forth in clause (k) of this Section 4, then RFC shall pay to the Trust Fund, concurrently with and in addition to the remedies provided in the preceding sentence, an amount equal to any liability, penalty or expense that was actually incurred and paid out of or on behalf of the Trust Fund, and that directly resulted from such breach, or if
incurred and paid by the Trust Fund thereafter, concurrently with such payment.

	
             
 	
            SECTION 2.
 	
            Effect of Amendment.
 

 

Upon execution of this Amendment, the Existing 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 parties thereto 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 Existing Agreement (as applicable) for any and all purposes.  Except as modified and expressly amended by this Amendment, the Existing 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 3.
 	
            Binding Effect.
 

 

The provisions of this Amendment shall be binding upon and inure to the benefit of the parties hereto (and any Certificateholder) and each of their respective successors and assigns.

 

 

 

	
             
 	
            SECTION 4.
 	
            Governing Law.
 

 

his Amendment shall be governed by and 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 5.
 	
            Severability of Provisions.
 

 

If any one or more of the covenants, agreements, provisions or terms of this Amendment 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 Amendment and shall in no way affect the validity or enforceability of the other provisions of this Amendment or of the Certificates or the rights of the Certificateholders.

	
             
 	
            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.
 	
            Counterparts.
 

 

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

	
             
 	
            SECTION 8.
 	
            Trustee Capacity.
 

 

It is expressly understood and agreed by the parties hereto that (i) this Amendment is executed and delivered by the Trustee, not individually or personally but solely in its capacity as Trustee in the exercise of the powers and authority conferred and vested in it as the assignee of the Company under the Existing Agreement, (ii) each of the representations, undertakings and agreements by Trustee is made and intended for the purpose of binding only the RALI Series 2006-QO9 Trust and RALI Grantor Trust I-A, Series 2006-QO9 (together, the “Trusts”), (iii) nothing herein contained shall be construed as creating any liability for Trustee, individually or personally, to perform any covenant (either express or implied) contained herein, and all such liability, if any, is hereby expressly waived by the parties hereto, and such waiver
shall bind any third party making a claim by or through one of the parties hereto, and (iv) under no circumstances shall Trustee be personally liable for the payment of any indebtedness or expenses of the Trusts, or be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Trusts under this Amendment, the Pooling and Servicing Agreement or any related document.

 [Signature Pages Follow]

 

 

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

	
             
 	
            RESIDENTIAL FUNDING COMPANY, LLC

 

 

By:       /s/ Jeffrey Blaschko                         

Name:  Jeffrey Blaschko

Title:   Associate 
 
	
             
 	
            RESIDENTIAL ACCREDIT LOANS, INC.

 

 

 

By:      /s/ Heather Anderson                      

Name:  Heather Anderson
 Title:    Vice President

 

 
 
	
             
 	
            DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Trustee

 

 

By:    /s/ Karlene Benvenuto                     

Name:   Karlene Benvenuto

Title:     Authorized Signer

By:    /s/ Marion Hogan                          

Name:  Marion Hogan

Title:    AssociateEXHIBIT 10.1
                                                                    ------------

              YORKTOWN MANAGEMENT & FINANCIAL SERVICES, LLC MOLDS,
               GRINDER, ANCILLARY RESIN HANDLING EQUIPMENT, BUMPER
              CONTRACT, RAW MATERIALS AND FINISHED GOODS INVENTORY
                       PURCHASE AGREEMENT AND BILL OF SALE

            This AGREEMENT dated February 7, 2007, (the "Agreement"), is between
Greystone Manufacturing LLC, an Oklahoma Limited Liability Company ("Greystone")
and Yorktown Management & Financial Services, LLC an Oklahoma Limited Liability
Company ("Yorktown").

            1.1 THE PURCHASE. On this Closing Date Yorktown has purchased from
GREYSTONE and GREYSTONE has conveyed, transferred, sold and assigned to Yorktown
5 molds, resin handling equipment, grinding and ancillary equipment, Keystone
Automotive bumper contract, raw materials and finished goods inventory described
in Schedule A to this Agreement ("Purchased Assets").

            1.2 PURCHASE PRICE. The purchase price to be paid by Yorktown to
Greystone for the Purchased Assets is $2,200,000.00 payable at Closing.

                        (a) GREYSTONE will deliver to Yorktown good title free
of liens and encumbrances.

                        (b) Yorktown will deliver to GREYSTONE good funds in
U.S. Dollars.

                    ARTICLE II. REPRESENTATIONS OF GREYSTONE

            Except as otherwise previously disclosed to Yorktown in writing,
GREYSTONE represents to Yorktown as follows:

            2.1 ORGANIZATION; ETC. GREYSTONE is a company duly formed, validly
existing and in good standing under the laws of the State of Oklahoma.

            2.2 AUTHORIZATION; ETC. GREYSTONE has the requisite power and
authority to enter into this Agreement and to carry out the transactions
contemplated hereby. The management of GREYSTONE has duly authorized the
execution and delivery of this Agreement and no further proceedings by GREYSTONE
are necessary to authorize this Agreement. F&M Bank and Trust in Tulsa, OK has
duly authorized the release of security in any items in this Agreement. These
Agreements have been validly executed and delivered by GREYSTONE and are legal,
valid and binding agreements of GREYSTONE.

            2.3 NO VIOLATION. Neither the execution and delivery of this
Agreement, the performance by GREYSTONE of its obligations under this Agreement,
nor the consummation of the transactions contemplated by this Agreement will (a)
violate any obligation of GREYSTONE; (b) violate or be in conflict with, or
constitute a default under, or permit the

                                        1
<PAGE>

termination of, or cause the acceleration of the maturity of any debt or other
obligation of GREYSTONE.

            2.4 GOOD WORKING ORDER. The Purchased Assets are in good working
order and GREYSTONE has no knowledge of any defect.

                      ARTICLE III. MICELAENEOUS PROVISIONS

            3.1 GOVERNING LAW. This Agreement and the legal relations among the
parties shall be governed by and construed in accordance with the laws of the
State of Oklahoma.

            3.2 COUNTERPARTS. This Agreement may be executed simultaneously in
two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same agreement.

            3.3 HEADINGS. The headings in this Agreement are inserted for
convenience only and shall not constitute a part of this Agreement.

            3.4 ENTIRE AGREEMENT. This Agreement, including the schedules, lists
and other documents referred to in this Agreement which form a part of this
Agreement, embody the entire agreement and understanding of the parties in
respect of the subject matter contained in this Agreement. There are no
restrictions, promises, warranties, covenants or undertakings, other than those
set forth or referred to in this Agreement. This Agreement supersedes all prior
agreements and understandings between the parties with respect to each subject
matter.

            IN WITNESS WHEREOF, the parties have signed this Agreement on the
dates first above written.

Greystone Manufacturing LLC        Yorktown Management & Financial Services, LLC

/s/ Robert Nelson                  /s/ Warren F. Kruger
----------------------------       ----------------------------
Robert Nelson, CFO                 Warren F. Kruger, Manager

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