Document:

CMSI 2006-4 FORM OF MORTGAGE LOAN PURCHASE AGREEMENT

     

     

     

    EXHIBIT
      10.1

     

     

    

      FORM
        OF MORTGAGE LOAN PURCHASE AGREEMENT

      

      This
        Mortgage Loan Purchase Agreement (the "Agreement") dated as of August 1,
        2006 is
        between CitiMortgage, Inc. ("CMI" or the "Seller") and Citicorp Mortgage
        Securities, Inc., a Delaware corporation ("CMSI"). The Seller agrees to sell,
        and CMSI agrees to purchase, the mortgage loans originated or acquired by
        CMI as
        described and set forth in the Mortgage Loan Schedule attached as exhibit
        B (the
        "mortgage loans") to the Pooling and Servicing Agreement dated as of August
        1,
        2006 (the "Pooling Agreement"), between CMSI, CMI, U.S. Bank National
        Association, a national banking association, in its individual capacity and
        as
        Trustee (the "Trustee"), and Citibank, N.A., in its individual capacity and
        as
        Paying Agent, Certificate Registrar and Authentication Agent, relating to
        the
        issuance of Citicorp Mortgage Securities Trust, Series 2006-4 REMIC Pass-Through
        Certificates class A, class B and residual certificates. Terms used without
        definition herein shall have the respective meanings assigned to them in
        the
        Pooling Agreement or, if not defined therein, in the Underwriting Agreement
        dated July 25, 2006 (the "Underwriting Agreement"), among CMSI, Citigroup
        Inc.
        and Citigroup Global Markets Inc. (the "Underwriter").

      

      Purchase
        Price.
        The
        purchase price (the "Purchase Price") for the mortgage loans shall consist
        of
        (a) cash in the amount of
        [                ]%
        of the aggregate scheduled principal balance thereof as of the cut-off date,
        plus accrued interest thereon at the rate of 6.00% per annum on the mortgage
        loans in pool I and 5.50% per annum on the mortgage loans in pool II and
        pool
        III, from and including the cut-off date to but excluding the closing date,
        (b)
        the class IA-IO, IIA-IO and IIIA-IO certificates, (c) the class LR certificates
        and (d) the class PR certificates. Such cash shall be payable by CMSI to
        the
        Seller on the closing date in same-day funds, and the Seller will receive
        on the
        closing date: (a) the class IA-IO, IIA-IO and IIIA-IO certificates and (b)
        the
        class LR and class PR certificates evidencing the residual interests in the
        lower-tier REMIC and the pooling REMIC, respectively. If CMSI for any reason
        shall repay to the Underwriter any portion of the price paid to CMSI by the
        Underwriter pursuant to the Underwriting Agreement, the Seller shall
        simultaneously and in the same manner repay to CMSI a proportionate amount
        of
        the Purchase Price as such repayment to the Underwriter.

      

      Upon
        payment of the Purchase Price, the Seller shall transfer, assign, set over
        and
        otherwise convey to CMSI without recourse all of the Seller's right, title
        and
        interest in and to the mortgage loans, including all interest and principal
        received or receivable by the Seller on or with respect to the mortgage loans
        (other than payments of principal and interest due and payable on the mortgage
        loans on or before the cut-off date and prepayments of principal on the mortgage
        loans received or posted prior to the close of business on the cut-off date),
        together with all of the Seller's right, title and interest in and to the
        proceeds of any related title, hazard or other insurance policies and Primary
        Mortgage Insurance Certificates. The Seller agrees to deliver to CMSI all
        documents, instruments and agreements required to be delivered by CMSI to
        the
        Trustee under the Pooling Agreement and such other documents, instruments
        and
        agreements as CMSI shall reasonably request. CMSI hereby directs the Seller
        to
        execute and deliver to the Trustee assignments of the Mortgages to the Trustee
        (and endorsements of any Mortgage Notes relating thereto) in recordable form.
        Such assignments and endorsements shall not affect the rights of the parties
        hereto or to the Pooling Agreement.

      
        
           

        

        
          1

          
            

          

        

        
           

        

      

      

      

      1. Representations.
        The
        Seller hereby represents and warrants to CMSI (i) that CMSI's representations
        and warranties pursuant to the Pooling Agreement to the Trustee with respect
        to
        the mortgage loans are true and correct and (ii) that the Seller has not
        dealt
        with any broker, investment banker, agent or other person (other than CMSI
        and
        the Underwriter) who may be entitled to any commission or compensation in
        connection with the sale of the related mortgage loans. The Seller hereby
        agrees
        to cure any breach of such representations and warranties in accordance with
        the
        terms of the Pooling Agreement.

      

      2. Underwriting.
        The
        Seller hereby agrees to furnish any and all information, documents,
        certificates, letters or opinions reasonably requested by CMSI in order to
        perform any of its obligations or satisfy any of the conditions on its part
        to
        be performed or satisfied at or prior to the closing date.

      

      3. Costs.
        CMSI
        shall pay all expenses incidental to the performance of its obligations under
        the Underwriting Agreement, including without limitation (i) any recording
        fees
        or fees for title policy endorsements and continuations, (ii) the expenses
        of
        preparing, printing and reproducing the Registration Statement, the Prospectus,
        the Underwriting Agreement, the Pooling Agreement and the certificates and
        (iii)
        the cost of delivering the certificates to the offices of The Depository
        Trust
        Company or the Underwriter, as the case may be.

      

      4. Indemnification.
        The
        Seller hereby agrees to indemnify, defend and hold harmless CMSI against
        any and
        all losses, claims, damages or liabilities (i) resulting from the Seller's
        failure to perform any of its obligations hereunder, (ii) resulting from
        the
        inaccuracy of the Seller's representations and warranties herein or of CMSI's
        representations and warranties in the Pooling Agreement or (iii) insofar
        as such
        losses, claims, damages or liabilities (or actions or demands for reimbursement
        or contribution in respect thereof) arise out of or are based upon information
        relating to the Seller or the mortgage loans pursuant to the Underwriting
        Agreement.

      

      5. Purchase
        and Sale; Security Interest.
        The
        parties hereto intend the conveyance by the Seller to CMSI of all of its
        right,
        title and interest in and to the mortgage loans pursuant to this Agreement
        to
        constitute a purchase and sale and not a loan. Notwithstanding the foregoing,
        to
        the extent that such conveyance is held not to constitute a sale under
        applicable law, it is intended that this Agreement shall constitute a security
        agreement under applicable law and that the Seller shall be deemed to have
        granted to CMSI a first priority security interest in all of the Seller's
        right,
        title and interest in and to the mortgage loans.

      

      6. Notices.
        All
        demands, notices and communications hereunder shall be in writing, shall
        be
        effective only upon receipt and shall, if sent to CMSI be addressed to it
        at
        1000 Technology Drive, O’Fallon, Missouri 63368, Attn: Larry Kent Slough or if
        sent to Seller be addressed to it at 1000 Technology Drive, O’Fallon, Missouri
        63368, Attn: General Counsel.

      

      7. Trustee
        Beneficiary.
        The
        representations and agreements made by the Seller in this Agreement are made
        for
        the benefit of, and may be enforced by, the Trustee, and the holders of
        certificates to the same extent that the Trustee and the holders of
        certificates, respectively, have rights against CMSI under the Pooling Agreement
        in respect of representations and agreements made by CMSI
        therein.

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      

      

      8. Cross-Receipt.
        The
        Seller, by executing this Agreement below, hereby acknowledges receipt of
        the
        Purchase Price from CMSI. CMSI, by executing this Agreement below, hereby
        acknowledges receipt of the Mortgage Loans from the Seller.

      

      9. Miscellaneous.
        This
        Agreement shall be governed by and construed in accordance with the laws
        of the
        State of New York. Neither this Agreement nor any term hereof may be changed,
        waived, discharged or terminated except by a writing signed by the party
        against
        whom enforcement of such change, waiver, discharge or termination is sought.
        This Agreement may not be changed in any manner which would have a material
        adverse affect on holders of any class of certificates without the prior
        written
        consent of the Trustee. The Trustee shall be protected in consenting to any
        such
        change to the same extent provided in section 10 of the Pooling Agreement.
        This
        Agreement may be signed in any number of counterparts, each of which shall
        be
        deemed an original, which taken together shall constitute one and the same
        instrument. This Agreement shall bind and inure to the benefit of and be
        enforceable by CMSI and the Seller and their respective successors and assigns;
        provided,
        however,
        that
        this Agreement cannot be assigned by either party without the consent of
        the
        other party hereto, and any assignment hereof without such consent shall
        be
        void.

      

      

      
        
          
            

            

          

           

        

        
          3

          
            

          

        

        
           

          
          

        

      

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

      

      

      CITIMORTGAGE,
        INC.

      

      

      

      By:--------------------------------------     

      David
        L.
        Hicks

      Assistant
        Vice President

      

      

      

      CITICORP
        MORTGAGE SECURITIES, INC.

      

      

      

      By:-------------------------------------     

      Larry
        Kent Slough

      Senior
        Vice President

       

       

       

       

       

       

       

       

      4EXHIBIT 10.1 - LOWE'S COMPANIES, INC. 2006 ANNUAL INCENTIVE PLAN

    Exhibit
      10.1

    

    LOWE’S
      COMPANIES, INC.

    

    2006
      ANNUAL INCENTIVE PLAN

    

    TABLE
      OF CONTENTS

     

     

    

      
        	
                ARTICLE
                  I

              	
                INTRODUCTION
                  AND
                  PURPOSE..........................................................................................................

              	
                1

              
	
                ARTICLE
                  II

              	
                DEFINITIONS.............................................................................................................................................

              	
                1

              
	
                ARTICLE
                  III

              	
                ELIGIBILITY................................................................................................................................................

              	
                2

              
	
                ARTICLE
                  IV

              	
                INCENTIVE
                  AWARDS.............................................................................................................................

              	
                2

              
	 	
                Section
                  4.1.   
                  General.................................................................................................................................

              	
                2

              
	 	
                Section
                  4.2.    Performance
                  Objectives....................................................................................................

              	
                2

              
	 	
                Section
                  4.3.    Payment of
                  Awards...........................................................................................................

              	
                3

              
	
                ARTICLE
                  V

              	
                ADMINISTRATION..................................................................................................................................

              	
                3

              
	
                ARTICLE
                  VI

              	
                AMENDMENT
                  AND
                  TERMINATION..................................................................................................

              	
                3

              
	 	
                Section
                  6.1.    Amendment of
                  Plan...........................................................................................................

              	
                3

              
	 	
                Section
                  6.2.    Termination of
                  Plan...........................................................................................................

              	
                3

              
	 	
                Section
                  6.3.    Amendment or
                  Termination..............................................................................................

              	
                3

              
	
                ARTICLE
                  VII

              	
                MISCELLANEOUS....................................................................................................................................

              	
                4

              
	 	
                Section
                  7.1.     Rights of
                  Employees.........................................................................................................

              	
                4

              
	 	
                Section
                  7.2.     Unfunded
                  Status...............................................................................................................

              	
                4

              
	 	
                Section
                  7.3.     Limits on
                  Liability..............................................................................................................

              	
                4

              
	 	
                Section
                  7.4.    
                  Interpretations...................................................................................................................

              	
                4

              
	 	
                Section
                  7.5.     Tax
                  Withholding...............................................................................................................

              	
                4

              
	 	
                Section
                  7.6.     Nontransferability of
                  Benefits.........................................................................................

              	
                4

              
	 	
                Section
                  7.7.     Governing
                  Law..................................................................................................................

              	
                4

              
	
                ARTICLE
                  VIII

              	
                EFFECTIVE
                  DATE; DURATION OF THE
                  PLAN..................................................................................

              	
                5

              

      

    

                                                                                                              

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    

      LOWE’S
        COMPANIES, INC.

      2006
        ANNUAL INCENTIVE PLAN

       

      ARTICLE
        I

      INTRODUCTION
        AND PURPOSE

       

      Lowe’s
        Companies, Inc. previously adopted the Lowe’s Companies, Inc. 2001 Incentive
        Plan (the “Incentive Plan”). Article X of the Incentive Plan permits the Company
        to make cash incentive awards to eligible employees of the Company based
        on the
        satisfaction of specific performance objectives. The Company desires to replace
        Article X of the Incentive Plan with a new plan which will meet the same
        objectives as Article X of the Incentive Plan.

    

     

    
      ARTICLE
        II

      DEFINITIONS

      For
        purposes of the Plan, the following terms shall have the following
        meanings:

      

      (a) “Award”
means
        an incentive award which, subject to such terms and conditions as may be
        prescribed by the Committee, entitles a Participant to receive a cash payment
        from the Company or a Subsidiary pursuant to Article IV.

      

      (b) “Board”
means
        the Board of Directors of the Company.

      

      (c) “Code”
means
        the Internal Revenue Code of 1986, as amended from time to time, or any
        successor statute, and applicable regulations.

      

      (d) “Committee”
means
        the Compensation and Organization Committee of the Board or such other committee
        or subcommittee as may be designated by the Board.

      

      (e) “Company”
means
        Lowe’s Companies, Inc., a North Carolina corporation.

      

      (f) “Covered
        Employee”
means
        a
        Participant who the Committee determines meets the definition of a Covered
        Employee as defined in Code Section 162(m)(3) and the regulations promulgated
        thereunder, which definition generally includes the chief executive officer
        of
        the Company and the four highest compensated officers of the Company other
        than
        the chief executive officer.

      

      (g) “Effective
        Date”
        means,
        subject to Article VIII, February 4, 2006.

      

      (h) “Employee”
means
        any person, including a member of the Board, who is employed by the Company
        or a
        Subsidiary.

      

      (i) “Fair
        Market Value”
means,
        on any given date, the closing price of a share of common stock of the Company
        as reported on the New York Stock Exchange composite tape on such date, or
        if
        such common stock was not traded on the New York Stock Exchange on such day,
        then on the next preceding day that such common stock was traded on such
        exchange, all as reported by such source as the Committee may
        select.

       

      (j) “Participant”
means
        an Employee who is granted an Award by the Committee.

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      (k) “Performance-Based
        Compensation”
means
        an Award that is intended to constitute “performance-based compensation” within
        the meaning of Section 162(m)(4)(C) of the Code and the regulations promulgated
        thereunder.

      

      (l) “Performance
        Objective”
is
        defined in Section 4.2.

      

      (m) “Performance
        Period” is
        defined in Section 4.2.

      

      (n) “Plan”
means
        the Lowe’s Companies, Inc. 2006 Annual Incentive Plan, as set forth herein and
        as amended from time to time. 

      

      (o) “Subsidiary”
means
        any corporation (other than the Company), limited liability company, partnership
        or other business organization of which a majority of the outstanding voting
        stock or voting power is beneficially owned directly or indirectly by the
        Company. 

    

    
       

      ARTICLE
        III

      ELIGIBILITY

      

      Awards
        may be granted to any Employee who is designated as a Participant from time
        to
        time by the Committee. The Committee shall determine which Employees shall
        be
        Participants, and the terms, conditions, and limitations applicable to each
        Award not inconsistent with the Plan. Designation by the Committee as a
        Participant for an Award in one period shall not confer on a Participant
        the
        right to participate in the Plan for any other period.

       

      ARTICLE
        IV

      INCENTIVE
        AWARDS

       

      Section
        4.1.    
General.
        Awards may be granted to a Participant in such
        amounts and upon such terms, and at any time and from time to time, as shall
        be
        determined by the Committee. The Committee, at the time an Award is made,
        shall
        specify the terms and conditions which govern the Award, which terms and
        conditions shall prescribe that the Award shall be earned only upon, and
        to the
        extent that, Performance Objectives as described in Section 4.2, are satisfied
        within a designated time. Different terms and conditions may be established
        by
        the Committee for different Awards and for different Participants. 

      

              Section
        4.2.    
        Performance Objectives. The vesting and payment of
        Awards shall be contingent upon the degree of attainment of such performance
        goals (the “Performance Objectives”) over such period (the
“Performance Period”)
        as shall be specified by the Committee at the time the Award is granted.
        Performance Objectives will be established prior to or within the first ninety
        (90) days of each Performance Period. The Performance Objectives may be stated
        with respect to (i) the Company’s earnings before interest and taxes (EBIT),
        (ii) the Company’s earnings before taxes, (iii) the Company’s earnings before
        taxes in relation to non-cash beginning assets (beginning assets less beginning
        cash and short-term investments), (iv) the achievement by the Company, a
        Subsidiary or an operating unit of stated objectives with respect to return
        on
        equity, earnings per share, total earnings, return on capital or return on
        assets, (v) Fair Market Value, (vi) revenues, (vii) total shareholder return,
        (viii) operating earnings or margin, (ix) economic profit or value created,
        (x)
        strategic business criteria consisting of one or more objectives based on
        meeting specified goals relating to market penetration, geographic 

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

         

        business
          expansion, cost targets, customer or employee satisfaction, human resources
          management, supervision of litigation or information technology or acquisitions
          or divestitures of subsidiaries, affiliates or joint ventures, or (xi)
          any
          combination of the foregoing. The targeted level or levels of performance
          with
          respect to such business criteria may be established at such levels and
          in such
          terms as the Committee may determine, in its discretion, including in absolute
          terms, as a goal relative to performance in prior periods (e.g., earnings
          growth), or as a goal compared to the performance of one or more comparable
          companies or an index covering multiple companies. 

      

      
        

        Section
          4.3.    
Payment
          of Awards. Awards shall be made to Participants
          in a single lump sum in cash at a time determined by the Committee, but
          in no
          event later than two and one-half months after the end of the fiscal year
          in
          which the Performance Period ends. In no event shall a Covered Employee
          receive
          an Award payment in any fiscal year that exceeds the lesser of (i) $5,000,000
          or
          (ii) 500% of the Covered Employee’s base salary (prior to any salary reduction
          or deferral elections) as of the date of grant of the Award.

        ARTICLE
          V

        ADMINISTRATION

         

        The
          Plan
          shall be administered by the Committee. The Committee shall have all of
          the
          powers necessary to enable it to properly carry out its duties under the
          Plan.
          Not in limitation of the foregoing, the Committee shall have the power
          to
          construe and interpret the Plan and to determine all questions that shall
          arise
          thereunder. The Committee shall have such other and further specified duties,
          powers, authority and discretion as are elsewhere in the Plan either expressly
          or by necessary implication conferred upon it. The Committee may appoint
          such
          agents, who need not be members of the Committee, as it may deem necessary
          for
          the effective performance of its duties, and may delegate to such agents
          such
          powers and duties as the Committee may deem expedient or appropriate that
          are
          not inconsistent with the intent of the Plan to the fullest extent permitted
          under applicable law. The decision of the Committee or any agent of the
          Committee upon all matters within the scope of its authority shall be final
          and
          conclusive on all persons.

         

        ARTICLE
          VI

        AMENDMENT
          AND TERMINATION

         

        Section
          6.1.    
          Amendment of Plan. The Company has the right, at any
          time and from time to time, to amend in whole or in part any of the terms
          and
          provisions of the Plan to the extent permitted by law for whatever reason(s)
          the
          Company may deem appropriate. No amendment shall be effective without approval
          of the shareholders of the Company if the amendment would increase the
          maximum
          amount payable to a Covered Employee as specified in Section 4.3.

        

        Section
          6.2.    
          Termination of Plan. The Company expressly reserves the
          right, at any time, to suspend or terminate the Plan to the extent permitted
          by
          law for whatever reason(s) the Company may deem appropriate, including,
          without
          limitation, suspension or termination as to any Subsidiary, Employee, or
          class
          of Employees.

        

        Section
          6.3.    
          Procedure for Amendment or Termination. Any amendment to
          the Plan or termination of the Plan shall be made by the Company by resolution
          of the Committee and shall not require the approval or consent of any Subsidiary
          or Participant to be effective to the extent permitted by law. Any amendment
          to
          the Plan or termination of the Plan may be retroactive to the extent not
          prohibited by applicable law.

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

      

      
         

        ARTICLE
          VII

        MISCELLANEOUS

         

        Section
          7.1. 
             Rights
          of
          Employees. Status as an eligible Employee shall not be construed as
          a commitment that any Award will be made under the Plan to such eligible
          Employee or to eligible Employees generally. Nothing contained in the Plan
          (or
          in any other documents related to this Plan or to any Award) shall confer
          upon
          any Employee any right to continue in the employ or service of the Company
          or
          any Subsidiary or constitute any contract or limit in any way the right
          of the
          Company to change such person’s compensation or other benefits or to terminate
          the employment or service of such person with or without cause.

        

        Section
          7.2.   
           Unfunded Status. The Plan shall be
          unfunded. Neither the Company, any Subsidiary, the Committee, nor the Board
          shall be required to segregate any assets that may at any time be represented
          by
          Awards made pursuant to the Plan. Neither the Company, any Subsidiary,
          the
          Committee, nor the Board shall be deemed to be a trustee of any amounts
          to be
          paid under the Plan.

        

        Section
          7.3.    
Limits
          on Liability. Any liability of the Company or any
          Subsidiary to any Participant with respect to an Award shall be based solely
          upon contractual obligations created by the Plan. Neither the Company nor
          any
          Subsidiary nor any member of the Board or the Committee, nor any other
          person
          participating in any determination of any question under the Plan, or in
          the
          interpretation, administration or application of the Plan, shall have any
          liability to any party for any action taken or not taken in good faith
          under the
          Plan. To the extent permitted by applicable law, the Company shall indemnify
          and
          hold harmless each member of the Board and the Committee from and against
          any
          and all liability, claims, demands, costs, and expenses (including the
          costs and
          expenses of attorneys incurred in connection with the investigation or
          defense
          of claims) in any manner connected with or arising out of any actions or
          inactions in connection with the administration of the Plan except for
          such
          actions or inactions which are not in good faith or which constitute willful
          misconduct.

        

        Section
          7.4.    
Interpretation. Unless otherwise expressly
          stated by the Committee with respect to an Award, each Award granted to
          a
          Covered Employee under the Plan is intended to be Performance-Based Compensation
          that is fully deductible by the Company for federal income taxes and not
          subject
          to the deduction limitation of Section 162(m) of the Code, and the Plan
          shall be
          construed or deemed amended to the extent possible to conform any Award
          to
          effect such intent. The Committee shall not have any discretion to determine
          that an Award will be paid to a Covered Employee if the Performance Objective
          for such Award is not attained.

        

        The
          Plan
          is intended to meet the short-term deferral exception under Code Section
          409A
          such that payments made to Participants under the Plan are not deferred
          compensation subject to the provisions of Code Section 409A.

        

        Section
          7.5.     Tax Withholding.
          The Company shall be entitled to withhold from any payment made under the
          Plan
          the full amount of any required federal, state or local taxes.

        

        Section
          7.6.     Nontransferability of
          Benefits. A Participant may not assign or transfer any interest in
          an Award. Notwithstanding the foregoing, upon the death of a Participant,
          the
          Participant’s rights and benefits under the Plan shall pass by will or by the
          laws of descent and distribution.

        

        Section
          7.7.     Governing Law. To
          the extent not governed by federal law, the Plan shall be construed in
          accordance with and governed by the laws of the State of North
          Carolina.

      

       

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      

         

        ARTICLE
          VIII

        EFFECTIVE
          DATE; DURATION OF THE PLAN

         

        The
          Plan
shall
          be
          effective as of the Effective Date, subject to approval and ratification
          of the
          Plan by the shareholders of the Company to the extent necessary to satisfy
          the
          requirements of the Code, the New York Stock Exchange or other applicable
          federal or state law.

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