Document:

Unassociated Document

     

    
 

    AMENDMENT
      NUMBER ONE

    to
      the

    

    POOLING
      AND SERVICING AGREEMENT

    SACO
      I
      TRUST 2006-7,

    

    Dated
      as
      of June 1, 2006

    

    among

    

    BEAR
      STEARNS ASSET BACKED SECURITIES I LLC,

    as
      Depositor,

    

    EMC
      MORTGAGE CORPORATION,

    as
      Seller
      and Company,

    

    LASALLE
      BANK NATIONAL ASSOCIATION,

    as
      Master
      Servicer and Securities Administrator,

    

    and

    

    CITIBANK,
      N.A.,

    as
      Trustee

    

    

    This
      AMENDMENT NUMBER ONE is made and entered into this 5th
      day of
      December, 2006, by and among BEAR STEARNS ASSET BACKED SECURITIES I LLC, a
      Delaware limited liability company, as depositor (the “Depositor”), EMC MORTGAGE
      CORPORATION, a Delaware corporation, as seller (in such capacity, the “Seller”)
      and as company (in such capacity, the “Company”), LASALLE BANK NATIONAL
      ASSOCIATION, a national banking association, as master servicer (in such
      capacity, the “Master Servicer”) and as securities administrator (in such
      capacity, the “Securities Administrator”), and CITIBANK, N.A., a national
      banking association, as trustee (the “Trustee”), in connection with the Pooling
      and Servicing Agreement, dated as of June 1, 2006, among the above-mentioned
      parties (the “Agreement”), and the issuance of Mortgage-Backed Certificates,
      Series 2006-7. This amendment is made pursuant to Section 12.01 of the
      Agreement.

    

    1.    Capitalized
      terms used herein and not defined herein shall have the meanings assigned to
      such terms in the Agreement.

    

    2.    Section
      5.01 of the Agreement is hereby amended by deleting the last sentence of the
      first paragraph of Subsection 5.01(b) in its entirety and replacing it with
      the
      following:

    

    The
      Company shall deposit or cause to be deposited into the Protected Account on
      a
      daily basis within two Business Days of receipt and identification, except
      as
      otherwise specifically provided herein, the following payments and collections
      remitted by subservicers or received by it in respect of the EMC Mortgage Loans
      subsequent to the Cut-off Date (other than in respect of principal and interest
      due on the EMC Mortgage Loans on or before the Cut-off Date) and the following
      amounts required to be deposited hereunder:

    

    3.    Section
      5.01 of the Agreement is hereby amended by deleting the second paragraph of
      Subsection 5.01(b) in its entirety and replacing it with the
      following:

    

    The
      foregoing requirements for deposit by the Company into the Protected 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
      or
      assumption fees, if collected, need not be deposited by the Company. In the
      event that the Company shall deposit any amount not required to be deposited
      and
      not otherwise subject to withdrawal pursuant to Section 5.02, it may at any
      time
      withdraw or direct the institution maintaining the Protected Account, to
      withdraw such amount from the Protected Account, any provision herein to the
      contrary notwithstanding. Such withdrawal or direction may be accomplished
      by
      delivering written notice thereof to the institution maintaining the Protected
      Account, that describes the amounts deposited in error in the Protected Account.
      The Company shall maintain adequate records with respect to all withdrawals
      made
      pursuant to this Section. Reconciliations will be prepared by the Company for
      the Protected Account within 45 calendar days after the bank statement cut-off
      date. All funds deposited in the Protected Account shall be held in trust for
      the Certificateholders until withdrawn in accordance with Section
      5.02.

     

    4.    Section
      5.05 of the Agreement is hereby amended by deleting the first paragraph of
      Subsection 5.05(a) in its entirety and replacing it with the
      following:

     

    The
      Master Servicer shall enforce the obligation of the Company and the related
      Servicers to establish and maintain a Protected Account in accordance with
      this
      Agreement and the Servicing Agreements, with records to be kept with respect
      thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall
      be
      deposited within two Business Days (or as of such other time specified in the
      Servicing Agreements) of receipt and identification all collections of principal
      and interest on any Mortgage Loan and with respect to any REO Property received
      by the Company or the related Servicer, including Principal Prepayments,
      Insurance Proceeds, Liquidation Proceeds, Subsequent Recoveries, and advances
      made from the Company’s or such Servicer’s own funds (less servicing
      compensation as permitted by this Agreement or the related Servicing Agreement)
      and all other amounts to be deposited in the Protected Accounts. Each of the
      Company and the related Servicers 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 this Agreement or any Servicing
      Agreement, the Protected Account shall be held in a Designated Depository
      Institution and segregated on the books of such institution in the name of
      the
      Company or Servicer, as applicable on behalf of the Trustee for the benefit
      of
      Certificateholders.

     

    5.    Except
      as
      amended above, the Agreement shall continue to be in full force and effect
      in
      accordance with its terms.

    

    [Signature
      Page Follows]

     

     

    
 

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN
      WITNESS WHEREOF, the Depositor, the Seller, the Company, the Master Servicer,
      the Securities Administrator 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.

    
      	 	 	 
	 	
              BEAR
                STEARNS ASSET BACKED

              SECURITIES
                I LLC,

              as
                Depositor

            
	 
 	 
 	 
 
	 	  	By: 
              /s/ Baron Silverstein
	 	
              
                

              

            
	 	
              Name:
                Baron Silverstein

              
                Title:  
                  Vice
                  President

              

            

    

     

    
      	 	 	 
	 	
              
                EMC
                  MORTGAGE CORPORATION,

                as
                  Seller and Company

              

            
	 
 	 
 	 
 
	 	  	By: 
              /s/ Sue Stepanek
	 	
              
                

              

            
	 	
              Name:
                Sue
                Stepanek

              
                Title:  
                  Executive
                  Vice President

              

            

    

     

    
      
        	 	 	 
	 	
                
                  
                    LASALLE
                      BANK NATIONAL

                    ASSOCIATION,

                    as
                      Master Servicer and Securities
                      Administrator

                  

                

              
	 
 	 
 	 
 
	 	  	By: 
                /s/ Rita Lopez
	 	
                
                  

                

              
	 	
                Name:
                  Rita
                  Lopez

                
                  Title:  
                    Vice
                    President

                

              

      

       

      
        	 	 	 
	 	
                
                  
                    
                      CITIBANK,
                        N.A.,

                      as
                        Trustee

                    

                  

                

              
	 
 	 
 	 
 
	 	  	By: 
                /s/ John Hannon
	 	
                
                  

                

              
	 	
                Name:
                  John
                  Hannon

                
                  Title:  
                    Vice
                    PresidentUnassociated Document

    AMENDMENT
      NUMBER ONE

    to
      the

    

    POOLING
      AND SERVICING AGREEMENT

    SACO
      I
      TRUST 2006-9,

    

    Dated
      as
      of August 1, 2006

    

    among

    

    BEAR
      STEARNS ASSET BACKED SECURITIES I LLC,

    as
      Depositor,

    

    EMC
      MORTGAGE CORPORATION,

    as
      Seller
      and Company,

    

    LASALLE
      BANK NATIONAL ASSOCIATION,

    as
      Master
      Servicer and Securities Administrator,

    

    and

    

    CITIBANK,
      N.A.,

    as
      Trustee

    

    

    This
      AMENDMENT NUMBER ONE is made and entered into this 5th
      day of
      December, 2006, by and among BEAR STEARNS ASSET BACKED SECURITIES I LLC, a
      Delaware limited liability company, as depositor (the “Depositor”), EMC MORTGAGE
      CORPORATION, a Delaware corporation, as seller (in such capacity, the “Seller”)
      and as company (in such capacity, the “Company”), LASALLE BANK NATIONAL
      ASSOCIATION, a national banking association, as master servicer (in such
      capacity, the “Master Servicer”) and as securities administrator (in such
      capacity, the “Securities Administrator”), and CITIBANK, N.A., a national
      banking association, as trustee (the “Trustee”), in connection with the Pooling
      and Servicing Agreement, dated as of August 1, 2006, among the above-mentioned
      parties (the “Agreement”), and the issuance of Mortgage-Backed Certificates,
      Series 2006-9. This amendment is made pursuant to Section 12.01 of the
      Agreement.

    

    1.     Capitalized
      terms used herein and not defined herein shall have the meanings assigned to
      such terms in the Agreement.

    

    2.     Section
      5.01 of the Agreement is hereby amended by deleting the last sentence of the
      first paragraph of Subsection 5.01(b) in its entirety and replacing it with
      the
      following:

    

    The
      Company shall deposit or cause to be deposited into the Protected Account on
      a
      daily basis within two Business Days of receipt and identification, except
      as
      otherwise specifically provided herein, the following payments and collections
      remitted by subservicers or received by it in respect of the EMC Mortgage Loans
      subsequent to the Cut-off Date (other than in respect of principal and interest
      due on the EMC Mortgage Loans on or before the Cut-off Date) and the following
      amounts required to be deposited hereunder:

    

    3.     Section
      5.01 of the Agreement is hereby amended by deleting the second paragraph of
      Subsection 5.01(b) in its entirety and replacing it with the
      following:

    

    The
      foregoing requirements for deposit by the Company into the Protected 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
      or
      assumption fees, if collected, need not be deposited by the Company. In the
      event that the Company shall deposit any amount not required to be deposited
      and
      not otherwise subject to withdrawal pursuant to Section 5.02, it may at any
      time
      withdraw or direct the institution maintaining the Protected Account, to
      withdraw such amount from the Protected Account, any provision herein to the
      contrary notwithstanding. Such withdrawal or direction may be accomplished
      by
      delivering written notice thereof to the institution maintaining the Protected
      Account, that describes the amounts deposited in error in the Protected Account.
      The Company shall maintain adequate records with respect to all withdrawals
      made
      pursuant to this Section. Reconciliations will be prepared by the Company for
      the Protected Account within 45 calendar days after the bank statement cut-off
      date. All funds deposited in the Protected Account shall be held in trust for
      the Certificateholders until withdrawn in accordance with Section
      5.02.

     

    4.     Section
      5.05 of the Agreement is hereby amended by deleting the first paragraph of
      Subsection 5.05(a) in its entirety and replacing it with the
      following:

     

    The
      Master Servicer shall enforce the obligation of the Company and the related
      Servicers to establish and maintain a Protected Account in accordance with
      this
      Agreement and the Servicing Agreements, with records to be kept with respect
      thereto on a Mortgage Loan by Mortgage Loan basis, into which accounts shall
      be
      deposited within two Business Days (or as of such other time specified in the
      Servicing Agreements) of receipt and identification all collections of principal
      and interest on any Mortgage Loan and with respect to any REO Property received
      by the Company or the related Servicer, including Principal Prepayments,
      Insurance Proceeds, Liquidation Proceeds, Subsequent Recoveries, and advances
      made from the Company’s or such Servicer’s own funds (less servicing
      compensation as permitted by this Agreement or the related Servicing Agreement)
      and all other amounts to be deposited in the Protected Accounts. Each of the
      Company and the related Servicers 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 this Agreement or any Servicing
      Agreement, the Protected Account shall be held in a Designated Depository
      Institution and segregated on the books of such institution in the name of
      the
      Company or Servicer, as applicable on behalf of the Trustee for the benefit
      of
      Certificateholders.

     

    5.     Except
      as
      amended above, the Agreement shall continue to be in full force and effect
      in
      accordance with its terms.

    

    [Signature
      Page Follows]

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    IN
      WITNESS WHEREOF, the Depositor, the Seller, the Company, the Master Servicer,
      the Securities Administrator 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.

    

    
      	 	 	 	 	 	 	 	
              BEAR
                STEARNS ASSET BACKED SECURITIES I LLC,

              as
                Depositor

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Baron
                Silverstein

            
	 	 	 	 	 	 	 	
              Name:

            	
              Baron
                Silverstein

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

            

    

    

    

    
      	 	 	 	 	 	 	 	
              EMC
                MORTGAGE CORPORATION,

              as
                Seller and Company

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Sue Stepanek

            
	 	 	 	 	 	 	 	
              Name:

            	
              Sue
                Stepanek

            
	 	 	 	 	 	 	 	
              Title:

            	
              Executive
                Vice President

            

    

    

    

    
      	 	 	 	 	 	 	 	
              LASALLE
                BANK NATIONAL ASSOCIATION,

              as
                Master Servicer and Securities Administrator

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                Rita Lopez

            
	 	 	 	 	 	 	 	
              Name:

            	
              Rita
                Lopez

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

            

    

    

    

    
      	 	 	 	 	 	 	 	
              CITIBANK,
                N.A.,

              as
                Trustee

            
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	
              By:

            	
              /s/
                John Hannon

            
	 	 	 	 	 	 	 	
              Name:

            	
              John
                Hannon

            
	 	 	 	 	 	 	 	
              Title:

            	
              Vice
                President

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