Document:

Exhibit
10.1

Summary of Compensation Program for Non-Employee Directors

On April 28, 2006, the
board of directors of Natrol, Inc. (the “Company”), acting upon the
recommendations of the compensation committee of the board of directors,
approved changes to the non-employee director compensation program for service
on the board, effective on July 1, 2006. 
The following details the new non-employee director compensation
program:

	
  Annual Cash Retainer Fee:

  	
   

  	
  $20,000 ($5,000 per quarter)

  
	
  Options:

  	
   

  	
  150,000 non-qualified stock options over 3 years
  vesting quarterly(1)

  

 

(1)   The number of options granted to newly
elected non-employee directors and vesting of such options is pro-rated
depending upon the remaining term of office (class) for which the director has
been elected.

The annual cash retainer
fee is payable at the beginning of each quarter.  Directors do not receive separate meeting
fees or fees for service as committee chairs. 
The options vest quarterly over the remaining term of office of each
board member.  The term of the options is
ten years from the date of grant for any option granted under the 1996 Stock
Option and Grant Plan and six years for any option granted under the 2006 Stock
Option and Incentive Plan.  The option
grants also are subject to the terms of the applicable option plan and
individual non-qualified stock option agreements between the Company and each
grantee.  In addition, the Company
reimburses each non-employee director for his or her reasonable expenses for
attending board, committee and stockholder meetings, as well as for certain
expenses related to service on the board.Exhibit
10.2

Summary
of Option Grants to Non-Employee Directors

	
  Dennis W. DeConcini

  	
   

  	
  45,833 shares at an exercise price of $2.50 per
  share

  
	
   

  	
   

  	
  ·      5,833
  options to vest on June 8, 2006

  
	
   

  	
   

  	
  ·      40,000
  options to vest in quarterly installments of 10,000 beginning September 8,
  2006 through June 8, 2007

  
	
   

  	
   

  	
  ·      Option
  term expires on April 28, 2016

  
	
   

  	
   

  	
   

  
	
  Thomas L. Doorley, III

  	
   

  	
  135,833 shares at an exercise price of $2.50 per
  share

  
	
   

  	
   

  	
  ·      5,833
  options to vest on June 8, 2006

  
	
   

  	
   

  	
  ·      130,000
  options to vest in quarterly installments of 16,250 beginning September 8,
  2006 through June 8, 2008

  
	
   

  	
   

  	
  ·      Option
  term expires on April 28, 2016

  
	
   

  	
   

  	
   

  
	
  Ralph R. Simon

  	
   

  	
  158,333 shares at an exercise price of $2.50 per
  share

  
	
   

  	
   

  	
  ·      8,333
  options to vest on June 8, 2006

  
	
   

  	
   

  	
  ·      150,000
  options to vest in quarterly installments of 12,500 beginning September 8,
  2006 through June 8, 2009

  
	
   

  	
   

  	
  ·      Option
  term expires on April 28, 2016

  
	
  James R. Peters

  	
   

  	
  150,000 shares at an exercise price of $1.95 per
  share

  
	
   

  	
   

  	
  ·      150,000
  options to vest in quarterly installments of 12,500 beginning October 3, 2006
  through July 3, 2009

  
	
   

  	
   

  	
  ·      Option
  term expires on July 3, 2012Prepared and filed by St Ives Financial

EXHIBIT 4.1

    GREENWICH
      CAPITAL ACCEPTANCE, INC.,

    Depositor

     

    GREENWICH
      CAPITAL FINANCIAL PRODUCTS, INC.,

    Seller

     

    and

     

    DEUTSCHE
      BANK NATIONAL TRUST COMPANY,

    Trustee

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of September 1, 2006

     

      
        

      

    

     

    HarborView
      Mortgage Loan Trust

    Mortgage
      Loan Pass-Through Certificates, Series 2006-9

 
 
 

Table
      of Contents

     

    
      
        

      	 	Page
	 	
            

          
	
            ARTICLE
              I DEFINITIONS; DECLARATION OF TRUST

          	
            4

          
	 	 	 
	
            SECTION
              1.01.

          	
            Defined
              Terms.

          	
            4

          
	
            SECTION
              1.02.

          	
            Accounting.

          	
            51

          
	 	 
	
            ARTICLE
              II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES

          	
            52

          
	 	 	 
	
            SECTION
              2.01.

          	
            Conveyance
              of Mortgage Loans.

          	
            52

          
	
            SECTION
              2.02.

          	
            Acceptance
              by Trustee.

          	
            56

          
	
            SECTION
              2.03.

          	
            Repurchase
              or Substitution of Mortgage Loans by the Originator and the Seller.

          	
            57

          
	
            SECTION
              2.04.

          	
            Representations
              and Warranties of the Seller with Respect to the Mortgage Loans.

          	
            61

          
	
            SECTION
              2.05.

          	
            [Reserved].

          	
            64

          
	
            SECTION
              2.06.

          	
            Representations
              and Warranties of the Depositor.

          	
            64

          
	
            SECTION
              2.07.

          	
            Issuance
              of Certificates.

          	
            65

          
	
            SECTION
              2.08.

          	
            Representations
              and Warranties of the Seller.

          	
            66

          
	
            SECTION
              2.09.

          	
            Covenants
              of the Seller.

          	
            68

          
	 	 
	
            ARTICLE
              III ADMINISTRATION OF THE MORTGAGE LOANS

          	
            68

          
	 	 	 
	
            SECTION
              3.01.

          	
            Servicing
              of the Mortgage Loans.

          	
            68

          
	
            SECTION
              3.02.

          	
            REMIC-Related
              Covenants.

          	
            68

          
	
            SECTION
              3.03.

          	
            Release
              of Mortgage Files.

          	
            68

          
	
            SECTION
              3.04.

          	
            Assessments
              of Compliance and Attestation Reports.

          	
            69

          
	
            SECTION
              3.05.

          	
            Enforcement
              of Regulation AB Deliverables.

          	
            71

          
	
            SECTION
              3.06.

          	
            Sarbanes-Oxley
              Certification.

          	
            71

          
	
            SECTION
              3.07.

          	
            Reports
              Filed with Securities and Exchange Commission.

          	
            72

          
	
            SECTION
              3.08.

          	
            Additional
              Information.

          	
            78

          
	
            SECTION
              3.09.

          	
            Intention
              of the Parties and Interpretation.

          	
            78

          
	
            SECTION
              3.10.

          	
            Indemnification
              by the Trustee.

          	
            78

          
	
            SECTION
              3.11.

          	
            [Reserved].

          	
            79

          
	
            SECTION
              3.12.

          	
            Reporting
              Requirements of the Commission.

          	
            79

          
	 	 
	
            ARTICLE
              IV ACCOUNTS

          	
            79

          
	 	 	 
	
            SECTION
              4.01.

          	
            Servicing
              Accounts.

          	
            79

          
	
            SECTION
              4.02.

          	
            Distribution
              Account.

          	
            81

          
	
            SECTION
              4.03.

          	
            Permitted
              Withdrawals and Transfers from the Distribution Account.

          	
            82

          
	
            SECTION
              4.04.

          	
            [Reserved].

          	
            84

          
	
            SECTION
              4.05.

          	
            Certificate
              Insurance Policy.

          	
            84

          
	 	 
	
            ARTICLE
              V FLOW OF FUNDS

          	
            87

          
	 	 	 
	
            SECTION
              5.01.

          	
            Distributions.

          	
            87

          

        

 

        

      	
            SECTION
              5.02.

          	
            Allocation
              of Net Deferred Interest.

          	
            95

          
	
            SECTION
              5.03.

          	
            Allocation
              of Realized Losses.

          	
            96

          
	
            SECTION
              5.04.

          	
            Statements.

          	
            97

          
	
            SECTION
              5.05.

          	
            Remittance
              Reports; Advances.

          	
            100

          
	
            SECTION
              5.06.

          	
            Compensating
              Interest Payments.

          	
            101

          
	
            SECTION
              5.07.

          	
            Basis
              Risk Reserve Fund.

          	
            101

          
	
            SECTION
              5.08.

          	
            Recoveries.

          	
            102

          
	
            SECTION
              5.09.

          	
            The
              Final Maturity Reserve Trust.

          	
            102

          
	
            SECTION
              5.10.

          	
            Yield
              Maintenance Agreement; Class 2A-1C2 Yield Maintenance Agreement.

          	
            103

          
	
            SECTION
              5.11.

          	
            Yield
              Maintenance Trust; Yield Maintenance Trust Account.

          	
            104

          
	
            SECTION
              5.12.

          	
            Yield
              Maintenance Account; Class 2A-1C2 Yield Maintenance Account.

          	
            105

          
	 	 
	
            ARTICLE
              VI THE CERTIFICATES

          	
            106

          
	 	 	 
	
            SECTION
              6.01.

          	
            The
              Certificates.

          	
            106

          
	
            SECTION
              6.02.

          	
            Registration
              of Transfer and Exchange of Certificates.

          	
            107

          
	
            SECTION
              6.03.

          	
            Mutilated,
              Destroyed, Lost or Stolen Certificates.

          	
            115

          
	
            SECTION
              6.04.

          	
            Persons
              Deemed Owners.

          	
            116

          
	
            SECTION
              6.05.

          	
            Appointment
              of Paying Agent.

          	
            116

          
	 	 
	
            ARTICLE
              VII DEFAULT

          	
            116

          
	 	 	 
	
            SECTION
              7.01.

          	
            Event
              of Default.

          	
            116

          
	
            SECTION
              7.02.

          	
            Trustee
              to Act.

          	
            117

          
	
            SECTION
              7.03.

          	
            Waiver
              of Event of Default.

          	
            118

          
	
            SECTION
              7.04.

          	
            Notification
              to Certificateholders.

          	
            118

          
	 	 
	
            ARTICLE
              VIII THE TRUSTEE

          	
            119

          
	 	 	 
	
            SECTION
              8.01.

          	
            Duties
              of the Trustee.

          	
            119

          
	
            SECTION
              8.02.

          	
            Certain
              Matters Affecting the Trustee.

          	
            121

          
	
            SECTION
              8.03.

          	
            Trustee
              Not Liable for Certificates or Mortgage Loans.

          	
            122

          
	
            SECTION
              8.04.

          	
            Trustee
              and Custodian May Own Certificates.

          	
            123

          
	
            SECTION
              8.05.

          	
            Trustee’s
              Fees and Expenses.

          	
            123

          
	
            SECTION
              8.06.

          	
            Eligibility
              Requirements for Trustee.

          	
            123

          
	
            SECTION
              8.07.

          	
            Resignation
              or Removal of Trustee.

          	
            124

          
	
            SECTION
              8.08.

          	
            Successor
              Trustee.

          	
            125

          
	
            SECTION
              8.09.

          	
            Merger
              or Consolidation of Trustee.

          	
            125

          
	
            SECTION
              8.10.

          	
            Appointment
              of Co-Trustee or Separate Trustee.

          	
            126

          
	
            SECTION
              8.11.

          	
            Limitation
              of Liability.

          	
            127

          
	
            SECTION
              8.12.

          	
            Trustee
              May Enforce Claims Without Possession of Certificates.

          	
            127

          
	
            SECTION
              8.13.

          	
            Suits
              for Enforcement.

          	
            128

          
	
            SECTION
              8.14.

          	
            Waiver
              of Bond Requirement.

          	
            128

          
	
            SECTION
              8.15.

          	
            Waiver
              of Inventory, Accounting and Appraisal Requirement.

          	
            128

          
	
            SECTION
              8.16.

          	
            Appointment
              of Custodians.

          	
            128

          
	
            SECTION
              8.17.

          	
            Indemnification.

          	
            128

          
	
            SECTION
              8.18.

          	
            Limitation
              of Liability of Trustee and Administrator; Indemnification.

          	
            129

          

        

ii

 

        

      	
            SECTION
              8.19.

          	
            Administrator’s
              Fees and Expenses.

          	
            129

          
	
            SECTION
              8.20.

          	
            Resignation
              or Removal of the Administrator.

          	
            130

          
	
            SECTION
              8.21.

          	
            Closing
              Opinion of Counsel.

          	
            130

          
	 	 
	
            ARTICLE
              IX REMIC ADMINISTRATION

          	
            131

          
	 	 	 
	
            SECTION
              9.01.

          	
            REMIC
              Administration.

          	
            131

          
	
            SECTION
              9.02.

          	
            Prohibited
              Transactions and Activities.

          	
            133

          
	 	 
	
            ARTICLE
              X TERMINATION

          	
            134

          
	 	 	 
	
            SECTION
              10.01.

          	
            Termination.

          	
            134

          
	
            SECTION
              10.02.

          	
            Additional
              Termination Requirements.

          	
            137

          
	
            SECTION
              10.03.

          	
            NIMS
              Insurer Optional Repurchase Right of Distressed Mortgage Loans.

          	
            137

          
	 	 
	
            ARTICLE
              XI DISPOSITION OF TRUST FUND ASSETS

          	
            137

          
	 	 	 
	
            SECTION
              11.01.

          	
            Disposition
              of Trust Fund Assets.

          	
            137

          
	 	 
	
            ARTICLE
              XII MISCELLANEOUS PROVISIONS

          	
            138

          
	 	 	 
	
            SECTION
              12.01.

          	
            Amendment.

          	
            138

          
	
            SECTION
              12.02.

          	
            Recordation
              of Agreement; Counterparts.

          	
            139

          
	
            SECTION
              12.03.

          	
            Limitation
              on Rights of Certificateholders.

          	
            139

          
	
            SECTION
              12.04.

          	
            Governing
              Law; Jurisdiction.

          	
            141

          
	
            SECTION
              12.05.

          	
            Notices.

          	
            141

          
	
            SECTION
              12.06.

          	
            Severability
              of Provisions.

          	
            141

          
	
            SECTION
              12.07.

          	
            Article
              and Section References.

          	
            142

          
	
            SECTION
              12.08.

          	
            Notice
              to the Rating Agencies.

          	
            142

          
	
            SECTION
              12.09.

          	
            Further
              Assurances.

          	
            143

          
	
            SECTION
              12.10.

          	
            Benefits
              of Agreement.

          	
            143

          
	
            SECTION
              12.11.

          	
            Acts
              of Certificateholders.

          	
            144

          
	
            SECTION
              12.12.

          	
            Successors
              and Assigns.

          	
            144

          
	
            SECTION
              12.13.

          	
            Provision
              of Information.

          	
            144

          
	
            SECTION
              12.14.

          	
            Transfer
              of Servicing.

          	
            145

          
	 	 
	
            EXHIBITS
              AND SCHEDULES:

          	 
	 	 	 
	
            Exhibit
              A

          	
            Form
              of Senior Certificate

          	
            A

          
	
            Exhibit
              B

          	
            Form
              of Subordinate Certificate

          	
            B

          
	
            Exhibit
              C-1

          	
            Form
              of Class C Certificate

          	
            C-1

          
	
            Exhibit
              C-2

          	
            Form
              of Class P Certificate

          	
            C-2

          
	
            Exhibit
              C-3

          	
            Form
              of Class R Certificate

          	
            C-3

          
	
            Exhibit
              D

          	
            Form
              of Reverse Certificate

          	
            D

          
	
            Exhibit
              E

          	
            [Reserved]

          	
            E

          
	
            Exhibit
              F

          	
            Request
              for Release

          	
            F

          
	
            Exhibit
              G-1

          	
            Form
              of Receipt of Mortgage Note

          	
            G-1

          
	
            Exhibit
              G-2

          	
            Form
              of Interim Certification of Trustee

          	
            G-2

          

        

        iii

 

        

      	
            Exhibit
              G-3

          	
            Form
              of Final Certification of Trustee

          	
            G-3

          
	
            Exhibit
                    H

                	
            Form
                    of Lost Note Affidavit

                	
            H

                
	
            Exhibit
                    I-1

                	
            Form
                    of ERISA Representation for Residual Certificate

                	
            I-1

                
	
            Exhibit
                    I-2

                	
            Form
                    of ERISA Representation for ERISA Restricted Trust
                    Certificates

                	
            I-2

                
	
            Exhibit
                    J-1

                	
            Form
                    of Investment Letter [Non-Rule 144A]

                	
            J-1

                
	
            Exhibit
                    J-2

                	
            Form
                    of Rule 144A Investment Letter

                	
            J-2

                
	
            Exhibit
                    K

                	
            Form
                    of Transferor Certificate

                	
            K

                
	
            Exhibit
                    L

                	
            Transfer
                    Affidavit for Residual Certificate Pursuant to Section
                    6.02(e)

                	
            L

                
	
            Exhibit
                    M

                	
            Form
                    of Back-Up Certification

                	
            M

                
	
            Exhibit
                    N

                	
            List
                    of Servicers and Servicing Agreements

                	
            N

                
	
            Exhibit
                    O

                	
            Transaction
                    Parties

                	
            O

                
	
            Exhibit
                    P

                	
            Form
                    of Trustee Certification

                	
            P

                
	
            Exhibit
                    Q

                	
            Form
                    of Certification Regarding Servicing Criteria to be Addressed
                    in Report on
                    Assessment of Compliance

                	
            Q

                
	
            Exhibit
                    R

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

                	
            R

                
	
            Exhibit
                    S

                	
            [Reserved]

                	
            S

                
	
            Exhibit
                    T

                	
            [Reserved]

                	
            T

                
	
            Exhibit
                    U

                	
            Additional
                    Disclosure Notification

                	
            U

                
	
            Exhibit
                    V

                	
            Yield
                    Maintenance Allocation Agreement

                	
            V

                
	
            Exhibit
                    W

                	
            Yield
                    Maintenance Agreement

                	
            W

                
	
            Exhibit
                    X

                	
            Class
                    2A-1C2 Yield Maintenance Agreement

                	
            X

                
	
            Exhibit
                    Y

                	
            Certificate
                    Insurance Policy

                	
            Y

                
	 	 	 
	
            Schedule
                    I

                	
            Mortgage
                    Loan Schedule

                	 
	
            Schedule
                    II

                	
            Final
                    Maturity Reserve Schedule

                	 

        

      

    

iv

This
      Pooling and Servicing Agreement is dated as of September 1, 2006 (the
“Agreement”),
      among
      GREENWICH CAPITAL ACCEPTANCE, INC., a Delaware corporation, as depositor (the
      “Depositor”),
      GREENWICH CAPITAL FINANCIAL PRODUCTS, INC., a New York corporation, as seller
      (the “Seller”),
      and
      DEUTSCHE BANK NATIONAL TRUST COMPANY, a national banking association, as trustee
      (the “Trustee”).

     

    PRELIMINARY
      STATEMENT:

     

    Through
      this Agreement, the Depositor intends to cause the issuance and sale of the
      HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series
      2006-9 (the “Certificates”)
      representing in the aggregate the entire beneficial ownership of the Trust
      Fund,
      the primary assets of which are the Mortgage Loans (as defined
      below).

     

    The
      Depositor intends to sell the Certificates, to be issued hereunder in multiple
      classes, which in the aggregate will evidence the entire beneficial ownership
      interest in the Trust Fund. The Certificates will consist of sixteen classes
      of
      certificates, designated as (i) the Class 1A-1A Certificates, (ii) the Class
      2A-1A Certificates, (iii) the Class 2A-1B1 Certificates, (iv) the Class 2A-1B2
      Certificates, (v) the Class 2A-1C1 Certificates, (vi) the Class 2A-1C2
      Certificates, (vii) the Class B-1 Certificates, (viii) the Class B-2
      Certificates, (ix) the Class B-3 Certificates, (x) the Class B-4 Certificates,
      (xi) the Class B-5 Certificates, (xii) the Class B-6 Certificates, (xiii) the
      Class B-7 Certificates, (xiv) the Class C Certificates, (xv) the Class P
      Certificates and (xvi) the Class R Certificates.

     

    For
      federal income tax purposes, the Trust Fund (exclusive of the assets held in
      the
      Basis Risk Reserve Fund, the Yield Maintenance Trust, the Yield Maintenance
      Trust Account, the Yield Maintenance Account, the Yield Maintenance Agreement,
      the Class 2A-1C2 Yield Maintenance Account, the Class 2A-1C2 Yield Maintenance
      Agreement, the Final Maturity Reserve Trust and the Final Maturity Reserve
      Account (the “Excluded
      Trust Property”))
      comprises two REMICs in a tiered REMIC structure: the “Lower-Tier
      REMIC”
and
      the
“Upper-Tier
      REMIC.”
Each
      Certificate, other than the Class R Certificate, shall represent ownership
      of a
      regular interest in the Upper-Tier REMIC, as described herein. The LIBOR
      Certificates also
      represent the right to receive (i) payments in respect of the Final Maturity
      Reserve Account, (ii) payments in respect of Basis Risk Shortfalls from the
      Basis Risk Reserve Fund as provided in Section 5.07 and (iii) payments in
      respect of Basis Risk Shortfalls from the Yield Maintenance Account as provided
      in Section 5.01(h). In addition, the Class 2A-1C2 Certificates also represent
      the right to receive payments in respect of Basis Risk Shortfalls from the
      Class
      2A-1C2 Yield Maintenance Account as provided in Section 5.01(i). The owners
      of
      the Class C Certificates beneficially own the Basis Risk Reserve Fund, the
      Final
      Maturity Reserve Account, the Final Maturity Reserve Trust, the Yield
      Maintenance Trust, the Yield Maintenance Trust Account, the Yield Maintenance
      Account and the Class 2A-1C2 Yield Maintenance Account. The Class R Certificate
      represents the sole class of residual interest in the Upper-Tier
      REMIC.

     

    The
      Lower-Tier REMIC will hold as its assets all of the assets constituting the
      Trust Fund (exclusive of the Excluded Trust Property) and will issue interests
      (the “Lower-Tier
      Regular Interests”)
      (which
      will be uncertificated and will represent the regular interests in the
      Lower-Tier REMIC) and a residual interest (the “Class LT-R Interest”) which will
      also be uncertificated and which will represent the sole class of residual
      interest in the Lower-Tier REMIC. The Trustee will hold the Lower-Tier Regular
      Interests as assets of the Upper-Tier REMIC. 

     

    For
      purposes of the REMIC Provisions, the startup day for each REMIC created hereby
      is the Closing Date. All REMIC regular and residual interests created hereby
      will be retired on or before the Latest Possible Maturity Date.

     

    Lower-Tier
      REMIC

     

    The
      following table sets forth (or describes) the designation, interest rate, and
      initial principal balance of each Lower-Tier Interest in the Lower-Tier REMIC,
      each of which, other than the LT-R Lower-Tier Interest) is hereby designated
      as
      a regular interest in the Lower-Tier REMIC (the “Lower-Tier Regular
      Interests):

     

  	
        Designation

      	 	

        Interest
          Rate

      	 	
        Initial
          Principal

        Balance

      	 	
        Corresponding
          Class of Certificate

      	 
	
        

      	 	
        

      	
        

      	
        

      	 	
        

      	
        

      	 	
        

      	
        

      	 
	
        LT-1A-1A

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        416,229,500.00

      	 	 	
        1A-1A

      	 
	
        LT-2A-1A

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        533,452,500.00

      	 	 	
        2A-1A

      	 
	
        LT-2A-1B1

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        100,000,000.00

      	 	 	
        2A-1B1

      	 
	
        LT-2A-1B2

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        122,271,500.00

      	 	 	
        2A-1B2

      	 
	
        LT-2A-1C1

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        50,000,000.00

      	 	 	
        2A-1C1

      	 
	
        LT-2A-1C2

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        83,363,500.00

      	 	 	
        2A-1C2

      	 
	
        LT-B-1

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        34,578,000.00

      	 	 	
        B-1

      	 
	
        LT-B-2

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        27,374,000.00

      	 	 	
        B-2

      	 
	
        LT-B-3

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        8,644,500.00

      	 	 	
        B-3

      	 
	
        LT-B-4

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        20,891,000.00

      	 	 	
        B-4

      	 
	
        LT-B-5

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        15,848,000.00

      	 	 	
        B-5

      	 
	
        LT-B-6

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        13,687,000.00

      	 	 	
        B-6

      	 
	
        LT-B-7

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        7,202,500.00

      	 	 	
        B-7

      	 
	
        LT-P

      	 	 	 	 	 	
        $

      	
        50.00

      	 	 	
        P

      	 
	
        LT-Q

      	 	 	
        (1

      	
        )

      	 	
        $

      	
        1,447,952,377.79

      	 	 	
        N/A

      	 
	
        LT-I

      	 	 	
        (2

      	
        )

      	 	 	
        (2

      	
        )

      	 	
        N/A

      	 
	
        LT-R

      	 	 	
        (3

      	
        )

      	 	 	
        (3

      	
        )

      	 	
        N/A

      	 

     

    
      

    

    
      
        	 
                (1)	
                The
                  interest rate with respect to any Distribution Date (and the related
                  Accrual Period) for each of these Lower-Tier Regular Interests
                  is a per
                  annum rate equal to the Net
                  WAC.

              

      

    

     

    
      	(2)  	
              The
                LT-I Interest is an interest only interest that does not have a principal
                balance but has a notional amount as of any Distribution Date equal
                to the
                Stated Principal Balances of the Mortgage Loans as of the first day
                of the
                related Due Period (or in the case of the first Distribution Date,
                as of
                the Cut-off Date). For any Distribution Date before the Distribution
                Date
                in October 2016, it shall bear interest for the related Accrual Period
                at
                a fixed rate of 0.00%, and for each Distribution Date commencing
                on the
                Distribution Date in October 2016 and on each Distribution Date thereafter
                until the Final Maturity Reserve Termination Date, it shall bear
                interest
                for the related Accrual Period at a fixed rate equal to the Final
                Maturity
                Reserve Rate.

            

    

     

    
      	(3)  	
              The
                LT-R Interest is the sole Class of residual interest in the Lower-Tier
                REMIC. It does not have an interest rate or a principal
                balance.

            

    

        2

    On
      each
      Distribution Date, Available Funds shall be distributed in payment of principal
      on the Lower-Tier Regular Interests as follows:

     

    

  	 	i.  	
        concurrently
          to the LT-1A-1A, LT-2A-1A, LT-2A-1B1, LT-2A-1B2, LT-2A-1C1, LT- 2A-2C,
          LT-B-1, LT-B-2, LT-B-3, LT-B-4, LT-B-5, LT-B-6, LT-B-7, and LT-P Interests
          until the principal balance of each such Lower-Tier Regular Interest
          equals 50% of the Class Principal Balance of the Corresponding Class
          of Certificates immediately after such Distribution Date;

      

    

    

    

  	 	ii.  	
        to
          the LT-Q Interest until its principal balance equals the excess, if
          any, of (I) the aggregate Pool Balance immediately after such Distribution
          Date over (II) the aggregate of the principal balances of the Lower-Tier
          Regular Interests (other than the LT-Q and the LT-I Interests) after
          taking into account distributions on such Distribution Date under priority
          (i) above; and

      

    

    

    

  	 	iii.  	
        finally,
          to the Lower-Tier Regular Interests, as distributions of interest at
          the interest rates shown in the table above.

      

    

    

    On
      each
      Distribution Date, after taking into account principal distributions under
      priorities (i) and (ii) above, Realized Losses attributable to principal and
      any
      Net Deferred Interest shall each be allocated among the Lower-Tier Regular
      Interests in the same manner that principal is distributed among such Lower-Tier
      Regular Interests.

     

    On
      each
      Distribution Date, Prepayment Penalty Amounts shall be distributed to the LT-P
      Interest.

     

    Upper-Tier
      REMIC

     

    The
      following table sets forth (or describes) the Class designation, Pass-Through
      Rate and Original Class Principal Balance for each Class of Certificates, each
      of which, except for the Class R Certificates, is hereby designated a REMIC
      regular interest in the Upper-Tier REMIC for purposes of the REMIC
      Provisions:

     

  	
        Class

      	 	
        Original
          Class Principal Balance or

        Class
          Notional Balance

      	 	
        Pass-Through
          Rate

      	 
	
        

      	 	
        

      	
        

      	 	
        

      	
        

      	
        

      	 
	
        Class
          1A-1A

      	 	
        $

      	
        832,459,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          2A-1A 

      	 	
        $

      	
        1,066,905,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          2A-1B1

      	 	
        $

      	
        200,000,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          2A-1B2

      	 	
        $

      	
        244,543,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          2A-1C1

      	 	
        $

      	
        100,000,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          2A-1C2

      	 	
        $

      	
        166,727,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-1

      	 	
        $

      	
        69,156,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-2

      	 	
        $

      	
        54,748,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-3

      	 	
        $

      	
        17,289,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-4

      	 	
        $

      	
        41,782,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-5

      	 	
        $

      	
        31,696,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-6

      	 	
        $

      	
        27,374,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          B-7

      	 	
        $

      	
        14,405,000.00

      	 	 	
        (1

      	
        )

      	 
	
        Class
          C

      	 	 	
        (2

      	
        )

      	 	
        (2

      	
        )

      	 
	
        Class
          P

      	 	
        $

      	
        100.00

      	 	 	
        (3

      	
        )

      	 
	
        Class
          R

      	 	 	
        (4

      	
        )

      	 	
        (4

      	
        )

      	 

     

      
        

      

    

    
      
        	
                (1)

              	
                Calculated
                  pursuant to the definition of “Pass-Through
                  Rate.”

              

      

    

     

    
      
        	(2)	
                The
                  Class C Interest shall have an initial principal balance of
                  $14,410,327.79. The Class C Interest also comprises a notional
                  component
                  having a notional amount that at all times will equal the aggregate
                  of the
                  principal balances of the Lower-Tier Regular Interests (i.e., the
                  Pool
                  Balance). For each Distribution Date (and the related Accrual Period),
                  the
                  notional component shall bear interest at a rate equal to the excess
                  of
                  (a) the weighted average of the interest rates on the Lower-Tier
                  Regular
                  Interests (other than the LT-I Interest), weighted on the basis
                  of the
                  principal balance of each such Lower-Tier Interest, over (b) the
                  Adjusted
                  Lower-Tier WAC. For any Distribution Date, interest that accrues
                  on the
                  notional component of the Class C Interest shall be deferred to
                  the extent
                  of any increase in the Overcollateralized Amount on such date.
                  Such
                  deferred interest shall not itself bear interest. In addition,
                  any Net
                  Deferred Interest allocated to the Class C Certificate shall increase
                  its
                  principal balance. In addition to the rights set forth above, the
                  Class C
                  Certificates shall also evidence ownership of the LT-I Interest
                  in the
                  Lower-Tier REMIC.

              

      

    

     

    
      
        	(3)	
                The
                  Class P Certificate shall not bear interest at a stated rate. The
                  Class P
                  Certificate shall have an initial Class Principal Balance of $100.00.
                  Prepayment Penalty Amounts paid with respect to the Mortgage Loans
                  shall
                  be distributed to the Class P
                  Certificates.

              

      

    

     

    
      
        	(4)	
                The
                  Class R Certificate represents the sole class of residual interest
                  in the
                  Upper-Tier REMIC and does not have a principal balance or a pass-through
                  rate.

              

      

    

3

    ARTICLE
      I

    DEFINITIONS;
      DECLARATION OF TRUST

     

 

  SECTION
    1.01.   Defined
    Terms.

 

    Whenever
      used in this Agreement or in the Preliminary Statement, the following words
      and
      phrases, unless the context otherwise requires, shall have the meanings
      specified in this Article. All calculations of interest described herein shall
      be made on the basis of an assumed 360-day year consisting of twelve 30-day
      months unless otherwise indicated in this Agreement.

     

    “Acceptable
      Successor Servicer”:
      A
      FHLMC- or FNMA-approved servicer that is (i) reasonably acceptable to the
      Trustee and (ii) acceptable to each Rating Agency, as evidenced by a letter
      from
      each such Rating Agency delivered to the Trustee that such entity’s acting as a
      successor servicer will not result in a qualification, withdrawal or downgrade
      of the then-current rating of any of the Certificates (without regard to the
      Certificate Insurance Policy).

     

    “Account”:
      The
      Distribution Account, the Yield Maintenance Trust Account, the Yield Maintenance
      Account, the Class 2A-1C2 Yield Maintenance Account, the Final Maturity Reserve
      Account, the Basis Risk Reserve Fund, the Servicing Account or the Policy
      Account, as the context requires.

4

     

“Accrual
  Period”:
  With respect to each Distribution Date and the LIBOR Certificates, the period
  beginning on the immediately preceding Distribution Date (or the Closing Date,
  in the case of the first Distribution Date) and ending on the day immediately
  preceding such Distribution Date. Interest for such Classes will be calculated
  based upon a 360-day year and the actual number of days in each Accrual Period.
  With respect to any Distribution Date and each Lower-Tier Regular Interest,
  the calendar month preceding such Distribution Date. Interest for each Lower-Tier
  Regular Interest will be calculated based on a 360-day year and assuming each
  month has 30 days.

     

    “Additional
      Disclosure Notification”:
      As
      defined in Section 3.19(a).

     

    “Additional
      Form 10-D Disclosure”:
      As
      defined in Section 3.19(a).

     

    “Additional
      Form 10-K Disclosure”:
      As
      defined in Section 3.19(b).

     

    “Adjusted
      Cap Rate”:
      Any of
      the Group 1 Adjusted Cap Rate, the Group 2 Adjusted Cap Rate or the Subordinate
      Adjusted Cap Rate.

     

    “Adjusted
      Lower-Tier WAC”:
      For
      any Distribution Date (and the related Accrual Period), the product of (i)
      2
      multiplied by (ii) the weighted average of the interest rates on the Lower-Tier
      Regular Interests (other than the Class LT-I Interest), weighted on the basis
      of
      their principal balances as of the first day of the related Accrual Period
      and
      computed for this purpose by first (a) subjecting the interest rate on the
      LT-P
      and LT-Q Interests to a cap of 0.00%, and (b) subjecting the interest rate
      on
      each of the LT-1A-1A, LT-2A-1A, LT-2A-1B1, LT-2A-1B2, LT-2A-1C1, LT-2A-1C2,
      LT-B-1, LT-B-2, LT-B-3, LT-B-4, LT-B-5, LT-B-6, and LT-B-7 Interests to a cap
      equal to the product of Pass-Through Rate for the Corresponding Class of
      Certificates for such Distribution Date multiplied by the quotient of the actual
      number of days in the Accrual Period divided
      by
      30.

     

    “Adjustment
      Date”:
      With
      respect to each Mortgage Loan, each adjustment date on which the related Loan
      Rate changes pursuant to the related Mortgage Note. The first Adjustment Date
      following the Cut-off Date as to each Mortgage Loan is set forth in the Mortgage
      Loan Schedule.

     

    “Administrator”:
      Deutsche Bank National Trust Company or its successor in interest, or any
      successor administrator appointed as herein provided.

     

    “Advance”:
      With
      respect to any Distribution Date and any Mortgage Loan or REO Property, any
      advance made by the Servicer including the Trustee in its capacity as successor
      Servicer in respect of such Distribution Date pursuant to Section 5.05 (or
      by
      the Trustee pursuant to Section 7.02 as successor Servicer) or by the Servicer
      in accordance with the Servicing Agreement for such Distribution
      Date.

     

    “Adverse
      REMIC Event”:
      Either
      (i) the loss of status as a REMIC, within the meaning of Section 860D of the
      Code, for any group of assets identified as a REMIC in the Preliminary Statement
      to this Agreement, or (ii) the imposition of any tax, including the tax imposed
      under Section 860F(a)(1) on prohibited transactions and the tax imposed under
      Section 860G(d) on certain contributions to a REMIC, on any REMIC created
      hereunder to the extent such tax would be payable from assets held as part
      of
      the Trust Fund.

5

     

    “Affiliate”:
      With
      respect to any Person, any other Person controlling, controlled by or under
      common control with such Person. For purposes of this definition, “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 and “controlling” and “controlled” shall have meanings correlative to
      the foregoing.

     

    “Agreement”:
      This
      Pooling and Servicing Agreement dated as of September 1, 2006, as amended,
      supplemented and otherwise modified from time to time.

     

    “Allocated
      Realized Loss Amount”:
      For
      any Distribution Date and any Class of Offered Certificates, an amount equal
      the
      sum of any Realized Losses allocated to that Class of Certificates on such
      Distribution Date and any Allocated Realized Loss Amounts previously allocated
      to such Class pursuant to Section 5.03 minus
      any
      amounts distributed to such Class pursuant to Section 5.01(a)(iv) in respect
      of
      Allocated Realized Loss Amounts.

     

    “Apportioned
      Principal Balance”:
      With
      respect to any Class of Subordinate Certificates, either Loan Group and any
      Distribution Date, the Class Principal Balance of such Class immediately prior
      to such Distribution Date multiplied by a fraction, the numerator of which
      is
      the Subordinate Component for the related Loan Group for such date and the
      denominator of which is the sum of the Subordinate Components (in the aggregate)
      for such date.

     

    “Assignment”:
      With
      respect to any Mortgage, an assignment of mortgage, notice of transfer or
      equivalent instrument, in recordable form, which is sufficient, under the laws
      of the jurisdiction in which the related Mortgaged Property is located, to
      reflect or record the sale of such Mortgage.

     

    “Available
      Funds”:
      With
      respect to any Distribution Date and any Loan Group, an amount equal to
      (i) the sum, without duplication, of (a) the aggregate of the Monthly
      Payments received on or prior to the related Determination Date (excluding
      Monthly Payments due in future Due Periods but received by the related
      Determination Date) in respect of the Mortgage Loans in such Loan Group,
      (b) Net Liquidation Proceeds, Insurance Proceeds (including from primary
      mortgage insurance policies), Principal Prepayments (excluding Prepayment
      Penalty Amounts), Recoveries and other unscheduled recoveries of principal
      and
      interest in respect of the Mortgage Loans in such Loan Group received during
      the
      related Prepayment Period, (c) the aggregate of any amounts received in respect
      of REO Properties for such Distribution Date in respect of Mortgage Loans in
      such Loan Group, (d) the aggregate of any amounts of Interest Shortfalls
      (excluding for such purpose all shortfalls as a result of Relief Act Reductions)
      paid by the Servicer pursuant to the Servicing Agreement and Compensating
      Interest Payments deposited in the Distribution Account for that Distribution
      Date in respect of the Mortgage Loans in such Loan Group, (e) the aggregate
      of the Purchase Prices, Substitution Adjustments, Repurchase Prices and other
      amounts collected for purchases or substitutions pursuant to Section 2.03
      deposited in the Distribution Account during the related Prepayment Period
      in
      respect of the Mortgage Loans in such Loan Group, (f) the aggregate of any
      Advances made by the Servicer for that Distribution Date in respect of the
      Mortgage Loans in such Loan Group, (g) the aggregate of any Advances made
      by the Trustee (as successor Servicer) for such Distribution Date pursuant
      to
      Section 7.02 hereof in respect of the Mortgage Loans in such Loan Group and
      (h) the Termination Price allocated to such Loan Group on the Distribution
      Date on which the Trust Fund is terminated, (i) to the extent of amounts
      attributable to interest, the Class 2A-1C2 Premium Amount payable on such
      Distribution Date to the Certificate Insurer from the applicable Loan Group,
      (j) to the extent of amounts attributable to interest, the Expense Fees for
      such Distribution Date in respect of the Mortgage Loans in such Loan Group,
      (k)
      to the extent of amounts attributable to interest or principal, as applicable,
      amounts in reimbursement for Advances previously made in respect of the Mortgage
      Loans in such Loan Group and other amounts as to which the Servicer, the Trustee
      and the Custodian are entitled to be reimbursed pursuant to Section 4.03, first,
      to the extent of amounts attributable to interest, and second, if such amounts
      are insufficient, to the extent of amounts attributable to principal, the amount
      payable to the Trustee pursuant to Section 8.05 and the Custodian pursuant
      to
      Section 19 of the Custodial Agreement in respect of Mortgage Loans in such
      Loan
      Group or if not related to a Mortgage Loan, allocated to each Loan Group on
      a
pro
      rata
      basis
      and (l) amounts deposited in the Distribution Account, as the case may be,
      in
      error, in respect of Mortgage Loans in such Loan Group.

6

     

    “Bankruptcy
      Code”:
      The
      Bankruptcy Reform Act of 1978 (Title 11 of the United States Code), as
      amended.

     

    “Basis
      Risk Reserve Fund”:
      A fund
      created as part of the Trust Fund pursuant to Section 5.07 of this Agreement
      but
      which is not an asset of any of the REMICs.

     

    “Basis
      Risk Shortfall”:
      With
      respect to any Distribution Date and the LIBOR Certificates, the sum
      of:

     

    (i) the
      excess, if any, of the Interest Distributable Amount that such Class would
      have
      been entitled to receive if the Pass-Through Rate for such Class were calculated
      without regard to clause (ii) in the definition thereof, over the actual
      Interest Distributable Amount such Class is entitled to receive for such
      Distribution Date;

     

    (ii) any
      excess described in clause (i) above remaining unpaid from prior Distribution
      Dates; and

     

    (iii) interest
      for the applicable Accrual Period on the amount described in clause (ii) above
      based on the applicable Pass-Through Rate, determined without regard to clause
      (ii) in the definition thereof.

     

    “Book-Entry
      Certificates”:
      Any of
      the Certificates that shall be registered in the name of the Depository or
      its
      nominee, the ownership of which is reflected on the books of the Depository
      or
      on the books of a Person maintaining an account with the Depository (directly,
      as a “Depository Participant”, or indirectly, as an indirect participant in
      accordance with the rules of the Depository and as described in Section 6.02
      hereof). On the Closing Date, all Classes of the Certificates other than the
      Physical Certificates shall be Book-Entry Certificates.

7

     

    “Bulk
      PMI Fee”:
      Not
      applicable.

     

    “Bulk
      PMI Fee Rate”:
      Not
      applicable.

     

    “Bulk
      PMI Policy”:
      Not
      applicable.

     

    “Business
      Day”:
      Any
      day other than a Saturday, a Sunday or a day on which banking or savings
      institutions in the State of California, the State of Texas, the State of New
      York or in the city in which the Corporate Trust Office of the Trustee is
      located are authorized or obligated by law or executive order to be
      closed.

     

    “Call
      Option”:
      The
      right to terminate this Agreement and the Trust Fund pursuant to the second
      paragraph of Section 10.01(a) hereof.

     

    “Call
      Option Date”:
      As
      defined in Section 10.01(a) hereof.

     

    “Certificate”:
      Any
      Regular Certificate, Residual Certificate, Class C Certificate or Class P
      Certificate.

     

    “Certificate
      Group 1”:
      At any
      time, the Group 1 Certificates.

     

    “Certificate
      Group 2”:
      At any
      time, the Group 2 Certificates.

     

    “Certificate
      Group”:
      Either
      Certificate Group 1 or Certificate Group 2, as the context
      requires.

     

    “Certificate
      Insurance Policy”:
      The
      Certificate Guaranty Insurance Policy (No. AB1037BE) with respect to the Insured
      Certificates, and all endorsements thereto dated the Closing Date, issued by
      the
      Certificate Insurer for the benefit of the Holders of the Insured Certificates,
      a form of which is attached hereto as Exhibit Y.

     

    “Certificate
      Insurer”:
      Ambac
      Assurance Corporation, a Wisconsin domiciled stock insurance
      corporation.

     

    “Certificate
      Insurer Default”:
      The
      existence and continuance of any of the following: (a) a failure by the
      Certificate Insurer to make a payment required under the Certificate Insurance
      Policy in accordance with its terms; (b) the entry of a decree or order of
      a
      court or agency having jurisdiction in respect of the Certificate Insurer in
      an
      involuntary case under any present or future federal or state bankruptcy,
      insolvency or similar law appointing a conservator or receiver or liquidator
      or
      other similar official of the Certificate Insurer or of any substantial part
      of
      its property, or the entering of an order for the winding up or liquidation
      of
      the affairs of the Certificate Insurer and the continuance of any such decree
      or
      order undischarged or unstayed and in force for a period of 90 consecutive
      days;
      (c) the Certificate Insurer shall consent to the appointment of a conservator
      or
      receiver or liquidator or other similar official in any insolvency, readjustment
      of debt, marshaling of assets and liabilities or similar proceedings of or
      relating to the Certificate Insurer or of or relating to all or substantially
      all of its property; or (d) the Certificate Insurer shall admit in writing
      its
      inability to pay its debts generally as they become due, file a petition to
      take
      advantage of or otherwise voluntarily commence a case or proceeding under any
      applicable bankruptcy, insolvency, reorganization or other similar statute,
      make
      an assignment for the benefit of its creditors, or voluntarily suspend payment
      of its obligations.

8

     

    “Certificate
      Insurer Reimbursement Amount”:
      For
      any Distribution Date, the sum of (a) all amounts previously paid by the
      Certificate Insurer in respect of Insured Amounts and Preference Amounts for
      which the Certificate Insurer has not been reimbursed prior to such Distribution
      Date and (b) interest accrued on the foregoing at the Late Payment Rate from
      the
      date the Trustee received such amounts paid by such Certificate Insurer to
      such
      Distribution Date.

     

    “Certificate
      Owner”:
      With
      respect to each Book-Entry Certificate, any beneficial owner thereof and with
      respect to each Physical Certificate, the Certificateholder
      thereof.

     

    “Certificate
      Principal Balance”:
      With
      respect to each Certificate of a given Class (other than the Class C and Class
      R
      Certificates) and any date of determination, the product of (i) the Class
      Principal Balance of such Class and (ii) the applicable Percentage Interest
      of
      such Certificate.

     

    “Certificate
      Register”
and
      “Certificate
      Registrar”:
      The
      register maintained and registrar appointed pursuant to Section 6.02 hereof.
      Deutsche Bank National Trust Company will act as Certificate Registrar, for
      so
      long as it is the Trustee under this Agreement.

     

    “Certificateholder”
or
      “Holder”:
      The
      Person in whose name a Certificate is registered in the Certificate Register,
      except that a Disqualified Organization or non-U.S. Person shall not be a Holder
      of the Residual Certificate for any purpose hereof; provided
      that
      solely for the purposes of taking any action or giving any consent pursuant
      to
      this Agreement, any Certificate registered in the name of the Depositor, the
      Trustee, the NIMS Insurer, the Servicer or any Affiliate thereof shall be deemed
      not to be outstanding in determining whether the requisite percentage necessary
      to effect any such consent has been obtained, except that, in determining
      whether the Trustee shall be protected in relying upon any such consent, only
      Certificates which a Responsible Officer of the Trustee knows to be so owned
      shall be disregarded.

     

    “Certification
      Parties”:
      As
      defined in Section 3.06.

     

    “Certifying
      Person”:
      As
      defined in Section 3.06.

     

    “Class”:
      Collectively, Certificates that have the same priority of payment and bear
      the
      same class designation and the form of which is identical except for variation
      in the Percentage Interest evidenced thereby.

     

    “Class
      2A-1C2 Premium Amount”:
      With
      respect to any Distribution Date and the Class 2A-1C2 Certificates, the product
      of one-twelfth of the Insurer Premium Rate and the Class Principal Balance
      of
      the Class 2A-1C2 Certificates on the immediately preceding Distribution Date,
      or, in the case of the first Distribution Date, on the Closing Date, in each
      case after giving effect to distributions of principal made on such Distribution
      Date.

9

     

    “Class
      2A-1C2 Strike
      Rate”:
      With
      respect to any Distribution Date and the Class 2A-1C2 Yield Maintenance
      Agreement, the strike rate for such date set forth on Exhibit I to the Class
      2A-1C2 Yield Maintenance Agreement.

     

    “Class
      2A-1C2 Yield
      Maintenance Account”:
      The
      account established and maintained by the Trustee pursuant to Section 5.12,
      which shall be entitled “Yield Maintenance Account, Deutsche Bank National Trust
      Company, in trust for the registered Holders of Class 2A-1C2 Certificates,
      HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series
      2006-9” and which must be an Eligible Account.

     

    “Class
      2A-1C2 Yield Maintenance Agreement”:
      The
      interest rate cap agreement for the benefit of the Class 2A-1C2 Certificates
      by
      and between the Yield Maintenance Provider and the Administrator, on behalf
      of
      the Yield Maintenance Trust, including the ISDA Master Agreement between the
      Yield Maintenance Provider and the Administrator, the schedule thereto and
      the
      related confirmation (Ref. No. 38409), dated as of October 2, 2006 attached
      as
      Exhibit X hereto. The Yield Maintenance Agreement shall be an asset of the
      Trust
      Fund and not of any REMIC.

     

    “Class
      2A-1C2 Yield Maintenance Distributable Amount”:
      With
      respect to each Distribution Date and the Class 2A-1C2 Certificates, an amount
      equal to the product of (i) the excess, if any, of (x) LIBOR, subject to the
      applicable strike rate cap set forth on Schedule I, over (y) the applicable
      Class 2A-1C2 Strike Rate, (ii) the related Class 2A-1C2 Yield Maintenance
      Notional Balance and (iii) a fraction, the numerator of which is the actual
      number days in the related interest Accrual Period and the denominator of which
      is 360.

     

    “Class
      2A-1C2 Yield Maintenance Notional Balance”:
      For
      any Distribution Date, the lesser of (i) the amount set forth on Schedule I
      to
      the Class 2A-1C2 Yield Maintenance Agreement for the Class 2A-1C2 Certificates
      and (ii) the Class Principal Balance of the Class 2A-1C2
      Certificates.

     

    “Class
      2A-1C2 Yield Maintenance Payment Amount”:
      With
      respect to each Distribution Date, an amount equal to any Basis Risk Shortfalls
      with respect to the Class 2A-1C2 Certificates for such date.

     

    “Class
      B-1 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-1 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date) and
      (ii)
      the Class Principal Balance of the Class B-1 Certificates immediately prior
      to
      such Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 82.500% and thereafter 86.000% and
      (ii)
      the aggregate Principal Balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

10

     

    “Class
      B-2 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-2 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date) and (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 87.250% and thereafter 89.800% and
      (ii)
      the aggregate Principal Balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

     

    “Class
      B-3 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-3 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date) and (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 88.750% and thereafter 91.000% and
      (ii)
      the aggregate Principal Balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

     

    “Class
      B-4 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-4 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B- 3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date) and (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 92.375% and thereafter 93.900% and
      (ii)
      the aggregate principal balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

11

     

    “Class
      B-5 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-5 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date) and (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 95.125% and thereafter 96.100% and
      (ii)
      the aggregate principal balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

     

    “Class
      B-6 Principal Distribution Amount”:
      For any
      Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-6 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) and (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 97.500% and thereafter 98.000% and
      (ii)
      the aggregate principal balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

12

     

    “Class
      B-7 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-7 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-6
      Principal Distribution Amount on such Distribution Date)and (viii) the Class
      Principal Balance of the Class B-7 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to October 2012, 98.750% and thereafter 99.000% and
      (ii)
      the aggregate principal balance of the Mortgage Loans as of the last day of
      the
      related Due Period (after giving effect to scheduled payments of principal
      due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and (B) the aggregate principal balance of the Mortgage Loans as of
      the
      last day of the related Due Period (after giving effect to scheduled payments
      of
      principal due during the related Due Period, to the extent received or advanced,
      and unscheduled collections of principal received during the related Prepayment
      Period) minus
      $14,407,472.79.

13

     

    “Class
      C Distributable Amount”:
      With
      respect to any Distribution Date, the amount of interest that has accrued on
      the
      Class C Notional Balance, as described in the Preliminary Statement, but that
      has not been distributed pursuant to Section 5.01(a)(iv)(K) hereof prior to
      such
      Distribution Date. In addition, such amount shall include the initial
      Overcollateralized Amount (less the $100 of such amount allocated to the Class
      P
      Certificates) to the extent such amount has not been distributed on prior
      Distribution Dates as part of the Overcollateralization Release
      Amount.

     

    “Class
      C Notional Balance”:
      With
      respect to any Distribution Date (and the related Accrual Period) the aggregate
      principal balance of the Lower-Tier Regular Interests (the Pool Balance) as
      specified in the Preliminary Statement.

     

    “Class
      LT-R Interest”:
      As
      described in the Preliminary Statement.

     

    “Class
      Principal Balance”:
      As to
      any Distribution Date, with respect to any Class of Certificates (other than
      the
      Class C and Class R Certificates), the Original Class Principal Balance thereof
      as (a) reduced by the sum of (x) all amounts actually distributed in respect
      of
      principal of that Class on all prior Distribution Dates (provided, however,
      that
      the Certificate Insurer will be subrogated to the amount of any Realized Losses
      paid by it to the Insured Certificates), (y) all Realized
      Losses, if any, actually
      allocated to that Class on all prior Distribution Dates and (z) in the case
      of
      the Subordinate Certificates, any applicable Writedown Amount, and (b) increased
      by (x) the amount of Deferred Interest allocated to such Class of Certificates
      on such Distribution Date as set forth in Section 5.02 and (y) increased
      pursuant to Sections 5.01(h) and 5.08; provided,
      that
      any amounts distributed to a Class in respect of Allocated Realized Loss Amounts
      pursuant to Sections 5.01(a)(iv) and 5.01(h) will not further increase the
      Certificate Principal Balance of such Class.

     

    “Class
      Subordination Percentage”:
      With
      respect to each Class of Subordinate Certificates and any Distribution Date,
      the
      percentage equivalent of a fraction the numerator of which is the Class
      Principal Balance of such Class immediately before such Distribution Date and
      the denominator of which is the aggregate of the Class Principal Balances of
      all
      Classes of Certificates immediately before such Distribution Date.

     

    “Close
      of Business”:
      As
      used herein, with respect to any Business Day and location, 5:00 p.m. at such
      location.

     

    “Closing
      Date”:
      October 4, 2006.

     

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

     

    “Commission”:
      U.S.
      Securities and Exchange Commission.

14

     

    “Compensating
      Interest Payment”:
      With
      respect to any Distribution Date, the amount specified to be paid by the
      Servicer pursuant to Section 11.04(ix) of the Servicing Addendum to the
      Servicing Agreement.

     

    “Controlling
      Person”:
      With
      respect to any Person, any other Person who “controls” such Person within the
      meaning of the Securities Act.

     

    “Cooperative
      Corporation”:
      The
      entity that holds title (fee or an acceptable leasehold estate) to the real
      property and improvements constituting the Cooperative Property and which
      governs the Cooperative Property, which Cooperative Corporation must qualify
      as
      a Cooperative Housing Corporation under Section 216 of the Code.

     

    “Cooperative
      Loan”:
      Any
      Mortgage Loan secured by Cooperative Shares and a Proprietary
      Lease.

     

    “Cooperative
      Loan Documents”:
      As to
      any Cooperative Loan, (i) the Cooperative Shares, together with a stock power
      in
      blank; (ii) the original or a copy of the executed Security Agreement and the
      assignment of the Security Agreement in blank; (iii) the original or a copy
      of
      the executed Proprietary Lease and the original assignment of the Proprietary
      Lease endorsed in blank; (iv) the original, if available, or a copy of the
      executed Recognition Agreement and, if available, the original assignment of
      the
      Recognition Agreement (or a blanket assignment of all Recognition Agreements)
      endorsed in blank; (v) the executed UCC-1 financing statement with evidence
      of
      recording thereon, which has been filed in all places required to perfect the
      security interest in the Cooperative Shares and the Proprietary Lease; and
      (vi)
      executed UCC amendments (or copies thereof) or other appropriate UCC financing
      statements required by state law, evidencing a complete and unbroken line from
      the mortgagee to the Trustee with evidence of recording thereon (or in a form
      suitable for recordation).

     

    “Cooperative
      Property”:
      The
      real property and improvements owned by the Cooperative Corporation, that
      includes the allocation of individual dwelling units to the holders of the
      Cooperative Shares of the Cooperative Corporation.

     

    “Cooperative
      Shares”:
      Shares
      issued by a Cooperative Corporation.

     

    “Cooperative
      Unit”:
      A
      single family dwelling located in a Cooperative Property.

     

    “Corporate
      Trust Office”:
      With
      respect to the Trustee, the principal corporate trust office of the Trustee
      at
      which at any particular time its corporate trust business in connection with
      this Agreement shall be administered, which office at the date of the execution
      of this instrument is located at Deutsche Bank National Trust Company, 1761
      East
      St. Andrew Place, Santa Ana, California 92705, Attention: GC0609, HarborView
      Mortgage Loan Trust 2006-9, or at such other address as the Trustee may
      designate from time to time by notice to the Certificateholders, the Depositor
      and the Seller. With respect to the Certificate Registrar and presentment of
      Certificates for registration of transfer, exchange or final payment, the
      offices located at DB Services Tennessee, 648 Grassmere Park Road, Nashville,
      Tennessee 37211-3658, Attention: Transfer Unit.

15

     

    “Corresponding
      Class”:
      With
      respect to each class of Lower Tier Regular Interests or Middle Tier Regular
      Interests, the Class or Classes of Certificates corresponding to such class
      as
      set forth in the Preliminary Statement.

     

    “Countrywide”:
      Countrywide Home Loans, Inc., and its successors and assigns, in its capacity
      as
      Originator of the Mortgage Loans.

     

    “Countrywide
      Servicing”:
      Countrywide Home Loans Servicing LP, as Servicer of the Mortgage Loans as set
      forth and as individually defined in the Mortgage Loan Schedule hereto, and
      any
      successors thereto.

     

    “Credit
      Enhancement Percentage”:
      For
      any Distribution Date and any Class of Certificates, the percentage obtained
      by
      dividing (i) the sum of (x) the aggregate Class Principal Balance of the
      Subordinate Certificates subordinate to such Class and (y) the
      Overcollateralized Amount by (y) the aggregate Stated Principal Balance of
      the
      Mortgage Loans.

     

  	
         

      	
         

      	
        Initial
          Credit Enhancement 

        Percentage

      	 	
        Target
          Credit Enhancement

         Percentage
          before

        October
          2012 or

        Stepdown
          Date

      	 	
        Target
          Credit Enhancement

         Percentage
          on or after

         October
          2012 or

        Stepdown
          Date

      	 
	  	 	
        

      	  	
        

      	  	
        

      	  
	
        Senior

      	 	
        9.400

      	
        %

      	
        23.500

      	
        %

      	
        18.800

      	
        %

      
	
        B-1

      	 	
        7.000

      	
        %

      	
        17.500

      	
        %

      	
        14.000

      	
        %

      
	
        B-2

      	 	
        5.100

      	
        %

      	
        12.750

      	
        %

      	
        10.200

      	
        %

      
	
        B-3

      	 	
        4.500

      	
        %

      	
        11.250

      	
        %

      	
        9.000

      	
        %

      
	
        B-4

      	 	
        3.050

      	
        %

      	
        7.625

      	
        %

      	
        6.100

      	
        %

      
	
        B-5

      	 	
        1.950

      	
        %

      	
        4.875

      	
        %

      	
        3.900

      	
        %

      
	
        B-6

      	 	
        1.000

      	
        %

      	
        2.500

      	
        %

      	
        2.000

      	
        %

      
	
        B-7

      	 	
        0.500

      	
        %

      	
        1.250

      	
        %

      	
        1.000

      	
        %

      

    

    “Custodial
      Agreement”:
      The
      Custodial Agreement dated as of September 1, 2006, between the Trustee and
      the
      Bank of New York, as custodian.

     

    “Custodial
      Fee”:
      The
      monthly fee payable to the Custodian for its services rendered under the
      Custodial Agreement as determined pursuant to a separate letter agreement
      between the Custodian and the Trustee.

     

    “Custodian”:
      The
      Bank of New York, and its successors acting as custodian of the Mortgage
      Files.

     

    “Cut-off
      Date”:
      With
      respect to any Mortgage Loan, the Close of Business in New York City on
      September 1, 2006.

     

    “Cut-off
      Date Aggregate Principal Balance”:
      The
      aggregate of the Cut-off Date Principal Balances of all of the Mortgage
      Loans.

     

    “Cut-off
      Date Collateral Balance”:
      As to
      any Distribution Date, the aggregate Stated Principal Balance of all Mortgage
      Loans as of September 1, 2006.

16

     

    “Cut-off
      Date Principal Balance”:
      With
      respect to any Mortgage Loan, the principal balance thereof remaining to be
      paid, after application of all scheduled principal payments due on or before
      the
      Cut-off Date whether or not received as of the Cut-off Date (or as of the
      applicable date of substitution with respect to a Qualified Substitute Mortgage
      Loan).

     

    “Debt
      Service Reduction”:
      With
      respect to any Mortgage Loan, a reduction in the scheduled Monthly Payment
      for
      that Mortgage Loan by a court of competent jurisdiction in a proceeding under
      the Bankruptcy Code, unless the reduction results from a Deficient
      Valuation.

     

    “Deferred
      Interest”:
      With
      respect to each Mortgage Loan and each related Due Date, will be the excess,
      if
      any, of the amount of interest accrued on such Mortgage Loan from the preceding
      Due Date to such due date over the portion of the Monthly Payment allocated
      to
      interest for such Due Date.

     

    “Deficiency
      Amount”:
      Means
      with respect to the Insured Certificates, (a) for any Distribution Date prior
      to
      the Final Distribution Date, the sum of (1) the excess, if any, of the Monthly
      Interest Distributable Amount on the Insured Certificates for such Distribution
      Date, net of any Net Interest Shortfalls, Basis Risk Shortfalls and Net Deferred
      Interest, over the amount of Available Funds to pay such net amount on the
      Insured Certificates on such Distribution Date and (2) the amount, if any,
      of
      any Realized Losses allocable to the Insured Certificates on such Distribution
      Date (after giving effect to all distributions to be made thereon on such
      Distribution Date, other than pursuant to a claim on the Certificate Insurance
      Policy) and (b) for the Final Distribution Date, the sum of (x) the amount
      set
      forth in clause (a)(1) above and (y) the aggregate outstanding Certificate
      Principal Balance of the Insured Certificates, after giving effect to all
      payments of principal on the Insured Certificates on such Final Distribution
      Date, other than pursuant to a claim on the Certificate Insurance Policy on
      that
      Distribution Date. 

     

    “Deficient
      Valuation”:
      With
      respect to any Mortgage Loan, a valuation of the related Mortgaged Property
      by a
      court of competent jurisdiction in an amount less than the then outstanding
      principal balance of the Mortgage Loan, which valuation results from a
      proceeding initiated under the Bankruptcy Code.

     

    “Definitive
      Certificates”:
      Any
      Certificate evidenced by a Physical Certificate and any Certificate issued
      in
      lieu of a Book-Entry Certificate pursuant to Section 6.02(c) or (d)
      hereof.

     

    “Deleted
      Mortgage Loan”:
      A
      Mortgage Loan replaced or to be replaced by one or more Qualified Substitute
      Mortgage Loans.

     

    “Delinquent”:
      Any
      Mortgage Loan with respect to which the Monthly Payment due on a Due Date is
      not
      made.

     

    “Depositor”:
      Greenwich Capital Acceptance, Inc., a Delaware corporation, or any successor
      in
      interest.

     

    “Depository”:
      The
      initial Depository shall be The Depository Trust Company, whose nominee is
      Cede
& Co., or any other organization registered as a “clearing agency” pursuant
      to Section 17A of the Exchange Act. The Depository shall initially be the
      registered Holder of the Book-Entry Certificates. The Depository shall at all
      times be a “clearing corporation” as defined in Section 8-102(3) of the Uniform
      Commercial Code of the State of New York.

17

     

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

     

    “Determination
      Date”:
      For
      any Distribution Date and each Mortgage Loan, the date each month, as set forth
      in the Servicing Agreement, on which the Servicer determines the amount of
      all
      funds required to be remitted to the Trustee on the Servicer Remittance Date
      with respect to the Mortgage Loans. 

     

    “Disqualified
      Organization”:
      A
“disqualified organization” defined in Section 860E(e)(5) of the Code, or any
      other Person so designated by the Trustee based upon an Opinion of Counsel
      provided to the Trustee by nationally recognized counsel acceptable to the
      Trustee that the holding of an ownership interest in the Residual Certificate
      by
      such Person may cause the Trust Fund or any Person having an ownership interest
      in any Class of Certificates (other than such Person) to incur liability for
      any
      federal tax imposed under the Code that would not otherwise be imposed but
      for
      the transfer of an ownership interest in the Residual Certificate to such
      Person.

     

    “Distressed
      Mortgage Loan”:
      Any
      Mortgage Loan that at the date of determination is Delinquent in payment for
      a
      period of 90 days or more without giving effect to any grace period permitted
      by
      the related Mortgage Note or for which the Servicer on behalf of the Trust
      Fund
      has accepted a deed in lieu of foreclosure.

     

    “Distribution
      Account”:
      The
      trust account or accounts created and maintained by the Trustee pursuant to
      Section 4.02 hereof for the benefit of the Certificate Insurer and the
      Certificateholders and designated “Distribution Account, Deutsche Bank National
      Trust Company, as Trustee, in trust for the registered Holders of HarborView
      Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-9” and
      which must be an Eligible Account.

     

    “Distribution
      Account Income”:
      As to
      any Distribution Date, any interest or other investment income earned on funds
      deposited in the Distribution Account during the month of such Distribution
      Date.

     

    “Distribution
      Date”:
      The
      19th day of each month, or, if such day is not a Business Day, the next Business
      Day commencing in October 2006.

     

    “Distribution
      Date Statement”:
      As
      defined in Section 5.04(a) hereof.

     

    “Due
      Date”:
      With
      respect to each Mortgage Loan and any Distribution Date, the first day of the
      calendar month in which such Distribution Date occurs on which the Monthly
      Payment for such Mortgage Loan was due, exclusive of any days of
      grace.

18

     

    “Due
      Period”:
      With
      respect to any Distribution Date, the period commencing on the second day of
      the
      month preceding the month in which such Distribution Date occurs and ending
      on
      the first day of the month in which such Distribution Date occurs.

     

    “Eligible
      Account”: Any of:

     

    
      	(i)  	
              an
                account or accounts maintained with a federal or state chartered
                depository institution or trust company the short-term unsecured
                debt
                obligations of which (or, in the case of a depository institution
                or trust
                company that is the principal subsidiary of a holding company, the
                short-term unsecured debt obligations of such holding company) are
                rated
                in the highest short term rating category of each Rating Agency at
                the
                time any amounts are held on deposit
                therein;

            

    

     

    
      	(ii)  	
              an
                account or accounts the deposits in which are fully insured by the
                FDIC
                (to the limits established by it), the uninsured deposits in which
                account
                are otherwise secured such that, as evidenced by an Opinion of Counsel
                delivered to the Trustee and to each Rating Agency, the Trustee on
                behalf
                of the Certificateholders will have a claim with respect to the funds
                in
                the account or a perfected first priority security interest against
                the
                collateral (which shall be limited to Permitted Investments) securing
                those funds that is superior to claims of any other depositors or
                creditors of the depository institution with which such account is
                maintained;

            

    

     

    
      	(iii)  	
              a
                trust account or accounts maintained with the trust department of
                a
                federal or state chartered depository institution, national banking
                association or trust company acting in its fiduciary capacity; or
                

            

    

     

    
      	(iv)  	
              an
                account otherwise acceptable to each Rating Agency without reduction
                or
                withdrawal of its then current ratings of the Certificates (without
                regard
                to the Certificate Insurance Policy) as evidenced by a letter from
                such
                Rating Agency to the Trustee. Eligible Accounts may bear
                interest.

            

    

     

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

     

    “ERISA-Restricted
      Certificates”:
      (i)
      the Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C Certificates,
      the
      Subordinate Certificates and the Residual Certificate and (ii) any Class 1A-1A
      or Class 2A-1A Certificates that are not rated at least “AA-” (or its
      equivalent) by at least one nationally rated statistical rating organization
      upon acquisition.

     

    “Event
      of Default”:
      As
      defined in the Servicing Agreement.

     

    “Exchange
      Act”:
      The
      Securities Exchange Act of 1934, as amended, and the rules and regulations
      thereunder.

     

    “Expense
      Fee”:
      With
      respect to any Mortgage Loan, the sum of (i) the Servicing Fee, (ii) the Trustee
      Fee, (iii) any Bulk PMI Fee, if applicable, and (iv) with respect to any
      Lender-Paid Mortgage Insurance Loan, the Lender-Paid Mortgage Insurance
      Fee.

19

     

    “Expense
      Fee Rate”:
      With
      respect to any Mortgage Loan, the per annum rate at which the Expense Fee
      accrues for such Mortgage Loan as set forth in the Mortgage Loan
      Schedule.

     

    “Extra
      Principal Distribution Amount”:
      For
      any Distribution Date, is the lesser of (x) the Net Monthly Excess Cashflow
      for
      such Distribution Date and (y) the Overcollateralization Deficiency Amount
      for
      such Distribution Date.

     

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

     

    “FDIC”:
      The
      Federal Deposit Insurance Corporation or any successor thereto.

     

    “Final
      Distribution Date”:
      The
      Distribution Date occurring in November 2036 (other than the Insured
      Certificates, which is December 2037).

     

    “Final
      Maturity Reserve Account”:
      The
      account created pursuant to Section 5.09 of this Agreement.

     

    “Final
      Maturity Reserve Amount”:
      For
      each Distribution Date prior to the Distribution Date in October 2016, zero.
      For
      each Distribution Date commencing on the Distribution Date in October 2016
      and
      on each Distribution Date thereafter until the Final Maturity Reserve
      Termination Date, an amount equal to the least of (x) the product of (i) the
      quotient of the Final Maturity Reserve Rate divided
      by
      12 and
      (ii) the aggregate Stated Principal Balance of the Mortgage Loans on the first
      day of the related Due Period (not including for this purpose Mortgage Loans
      for
      which prepayments in full have been received and distributed in the month prior
      to the Distribution Date),
      (y) the
      Interest Remittance Amount after making any withdrawals from the Distribution
      Account pursuant to Section 4.03(a) (excluding clause (xv) therein) and (z)
      the
      Final Maturity Reserve Shortfall for such Distribution Date.
      Notwithstanding the foregoing, if on any Distribution Date the aggregate Stated
      Principal Balance of Mortgage Loans having 40-year original terms to maturity
      on
      such Distribution Date is less than or equal to the applicable amount set forth
      in the Final Maturity Reserve Schedule, the Final Maturity Reserve Amount shall
      equal zero.

     

    “Final
      Maturity Reserve Rate”:
      A per
      annum rate equal to the product of (i) 1.00% and (ii) a fraction, the numerator
      of which is the aggregate Stated Principal Balance as of the Cut-off Date of
      the
      Mortgage Loans having 40-year original terms to maturity and the denominator
      of
      which is aggregate Stated Principal Balance as of the Cut-off Date of all of
      the
      Mortgage Loans.

     

    “Final
      Maturity Reserve Schedule”:
      With
      respect to each Distribution Date on or after the Distribution Date in October
      2016 through and including Final Maturity Reserve Termination Date, the
      aggregate principal balance set forth on Schedule II hereto for that
      Distribution Date.

     

    “Final
      Maturity Reserve Shortfall”:
      With
      respect to any Distribution Date commencing on the Distribution Date in October
      2016 and on each Distribution Date thereafter until the Final Maturity Reserve
      Termination Date, the lesser of (i) the excess of $105,527,083.74 over amounts
      on deposit in the Final Maturity Reserve Account (after giving effect to all
      distributions on such Distribution Date other than distributions from the Final
      Maturity Reserve Account) and (ii) the excess of (a) the aggregate Stated
      Principal Balance of the Mortgage Loans having 40-year original terms to
      maturity (after giving effect to scheduled payments of principal due during
      the
      related Due Period, to the extent received or advanced, and unscheduled
      collections of principal received during the related Prepayment Period) over
      (b)
      amounts on deposit in the Final Maturity Reserve Account (after giving effect
      to
      all distributions on such Distribution Date other than distributions from the
      Final Maturity Reserve Account).

20

     

    “Final
      Maturity Reserve Termination Date”:
      The
      earlier of (i) the Distribution Date in November 2036 or (ii) the termination
      of
      the Trust Fund.

     

    “Final
      Maturity Reserve Trust”:
      The
      corpus of a trust created pursuant to Section 5.09 of this Agreement and
      designated as the “Final Maturity Reserve Trust,” consisting of the Final
      Maturity Reserve Account, but which is not an asset of any REMIC.

     

    “Final
      Recovery Determination”:
      With
      respect to any defaulted Mortgage Loan or any REO Property (other than a
      Mortgage Loan or REO Property purchased by the Seller pursuant to or
      contemplated by Sections 2.03 and 10.01), a determination made by the Servicer,
      and reported to the Trustee, that all Insurance Proceeds, Liquidation Proceeds
      and other payments or recoveries which the Servicer expects to be finally
      recoverable in respect thereof have been so recovered.

     

    “Form
      8-K Disclosure Information”:
      As
      defined in Section 3.07(c)(i).

     

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

     

    “GCFP”:
      Greenwich Capital Financial Products, Inc., and its successors and
      assigns.

     

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

     

    “Group
      1 Adjusted Cap Rate”:
      For
      any Distribution Date and for the Group 1 Certificates, the Net WAC Cap for
      such
      Distribution Date, determined by first reducing the Net WAC by a per annum
      rate
      equal to the product of (i) the Net Deferred Interest for Loan Group 1 for
      that
      Distribution Date multiplied by (ii) 12, divided
      by
      the Pool
      Balance for Loan Group 1 as of the first day of the month before such
      Distribution Date (or in the case of the first Distribution Date, as of the
      Cut-off Date).

     

    “Group
      1 Certificates”:
      The
      Class 1A-1A Certificates.

     

    “Group
      1 Mortgage Loan”:
      A
      Mortgage Loan that is identified as such on the Mortgage Loan
      Schedule.

     

    “Group
      2 Adjusted Cap Rate”:
      For
      any Distribution Date and for the Group 2 Certificates, the Net WAC Cap for
      such
      Distribution Date, determined by first reducing the Net WAC by a per annum
      rate
      equal to the product of (i) the Net Deferred Interest for Loan Group 2 for
      that
      Distribution Date multiplied by (ii) 12, divided
      by
      the Pool
      Balance for Loan Group 2 as of the first day of the month before such
      Distribution Date (or in the case of the first Distribution Date, as of the
      Cut-off Date).

21

     

    “Group
      2 Certificates”:
      The
      Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2
      Certificates.

     

    “Group
      2 Mortgage Loan”:
      A
      Mortgage Loan that is identified as such on the Mortgage Loan
      Schedule.

     

    “Indemnification
      Agreement”:
      The
      Indemnification Agreement dated as of the Closing Date among the Depositor,
      the
      Seller, Greenwich Capital Markets, Inc. and the Certificate Insurer, including
      any amendments and supplements thereto.

     

    “Indemnified
      Persons”:
      The
      Trustee (individually in its corporate capacity and in all capacities
      hereunder), the Depositor, the Servicer, the Custodian, the NIMS Insurer and
      the
      Certificate Insurer and their respective 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 accountants, a Person who is “independent” within the
      meaning of Rule 2-01(B) of the Securities and Exchange Commission’s Regulation
      S-X. Independent means, when used with respect to any other Person, a Person
      who
      (A) is in fact independent of another specified Person and any affiliate of
      such
      other Person, (B) does not have any material direct or indirect financial
      interest in such other Person or any affiliate of such other Person, (C) is
      not
      connected with such other Person or any affiliate of such other Person as an
      officer, employee, promoter, underwriter, trustee, partner, director or Person
      performing similar functions and (D) is not a member of the immediate family
      of
      a Person defined in clause (B) or (C) above.

     

    “Indenture”:
      An
      indenture relating to the issuance of notes secured by the Class C Certificates,
      the Class P Certificates and/or the Residual Certificates (or any portion
      thereof) which may or may not be guaranteed by the NIMS Insurer.

     

    “Index”:
      With
      respect to each Mortgage Loan and each Adjustment Date, the index specified
      in
      the related Mortgage Note.

     

    “Initial
      Certificate Principal Balance”:
      With
      respect to any Certificate other than the Class C and Class R Certificates,
      the
      amount designated “Initial Certificate Principal Balance” on the face
      thereof.

     

    “Initial
      LIBOR Rate”:
      5.32250%.

     

    “Initial
      Loan Group 1 Balance”:
      $918,828,541.62.

     

    “Initial
      Loan Group 2 Balance”:
      $1,962,665,886.17.

     

    “Insurance
      Proceeds”:
      With
      respect to any Mortgage Loan, proceeds of any title policy, hazard policy or
      other insurance policy covering a Mortgage Loan, to the extent such proceeds
      are
      not to be applied to the restoration of the related Mortgaged Property or
      released to the related Mortgagor in accordance with the Servicing
      Agreement.

22

     

    “Insured
      Amount”:
      As
      defined in the Certificate Insurance Policy. 

     

    “Insured
      Certificates”:
      The
      Class 2A-1C2 Certificates.

     

    “Insurer
      Premium Rate”:
      0.08%
      per annum.

     

    “Interest
      Distributable Amount”:
      With
      respect to any Distribution Date and each Class of Certificates (other than
      the
      Class C, Class P and Class R Certificates), the sum of (i) the Monthly
      Interest Distributable Amount for that Class and (ii) the Unpaid Interest
      Shortfall Amount for that Class.

     

    “Interest
      Remittance Amount”:
      For
      any Distribution Date and Loan Group, the sum of (i) the portion of the
      Available Funds for such Distribution Date attributable to interest received
      or
      advanced with respect to the Mortgage Loans in such Loan Group and (ii)
      Principal Prepayments for such Loan Group received during the related Prepayment
      Period up to the amount of related Deferred Interest for such Distribution
      Date.

     

    “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 a reduction
      of
      its Monthly Payment under the Relief Act, an amount determined as
      follows:

     

    (a) Principal
      Prepayments in part received during the relevant Prepayment Period: the
      difference between (i) one month’s interest at the applicable Net Loan Rate for
      such Mortgage Loan on the amount of such prepayment and (ii) the amount of
      interest for the calendar month of such prepayment (adjusted to the applicable
      Net Loan Rate) received at the time of such prepayment; and

     

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

     

    (c) any
      Relief Act Reductions for such Distribution Date.

     

    “Late
      Payment Rate”:
      The
      meaning given to such term in the Certificate Insurance Policy.

     

    “Latest
      Possible Maturity Date”:
      As
      determined as of the Cut-off Date, the Distribution Date following the fifth
      anniversary of the scheduled maturity date of the Mortgage Loan having the
      latest scheduled maturity date as of the Cut-off Date.

     

    “Lender-Paid
      Mortgage Insurance Loan”:
      Each
      Mortgage Loan identified as such in the Mortgage Loan Schedule.

23

     

    “Lender-Paid
      Mortgage Insurance Fee”:
      As to
      any Distribution Date and each Lender Paid Mortgage Insurance Mortgage Loan,
      an
      amount equal to the product of the Lender-Paid Mortgage Insurance Fee Rate
      and
      the outstanding Principal Balance of such Mortgage Loan as of the first day
      of
      the related Due Period. 

     

    “Lender-Paid
      Mortgage Insurance Fee Rate”:
      For
      each Lender-Paid Mortgage Insurance Loan and any Distribution Date, the per
      annum rate required to be paid in connection with the related lender-paid
      mortgage insurance policy for such Mortgage Loan on such Distribution
      Date.

     

    “LIBOR”:
      With
      respect to the first Accrual Period, the Initial LIBOR Rate. With respect to
      each subsequent Accrual Period, a per annum rate determined on the LIBOR
      Determination Date in the following manner by the Trustee on the basis of the
      “Interest Settlement Rate” set by the BBA for one-month United States dollar
      deposits, as such rates appear on the Telerate Page 3750, as of 11:00 a.m.
      (London time) on such LIBOR Determination Date.

     

    (a) If
      on
      such a LIBOR Determination Date, the BBA’s Interest Settlement Rate does not
      appear on the Telerate Page 3750 as of 11:00 a.m. (London time), or if the
      Telerate Page 3750 is not available on such date, the Trustee will obtain such
      rate from Reuters’ “page LIBOR 01” or Bloomberg’s page “BBAM.” If such rate is
      not published for such LIBOR Determination Date, LIBOR for such date will be
      the
      most recently published Interest Settlement Rate. In the event that the BBA
      no
      longer sets an Interest Settlement Rate, the rate for such date will be
      determined on the basis of the rates at which one-month U.S. dollar deposits
      are
      offered by the Reference Banks at approximately 11:00 am (London time) on such
      date to prime banks in the London interbank market. In such event, the Trustee
      will request the principal London office of each of the Reference Banks to
      provide a quotation of its rate. If at least two such quotations are provided,
      the rate for that date will be the arithmetic mean of the quotations (rounded
      upwards if necessary to the nearest whole multiple of 1/16%). If fewer than
      two
      quotations are provided as requested, the rate for that date will be the
      arithmetic mean of the rates quoted by major banks in New York City, selected
      by
      the Trustee (after consultation with the Depositor), at approximately 11:00
      a.m.
      (New York City time) on such date for one-month U.S. dollar loan to leading
      European banks.

     

    (b) The
      establishment of LIBOR by the Trustee and the Trustee’s subsequent calculation
      of the Pass-Through Rate applicable to the LIBOR Certificates for the relevant
      Accrual Period, in the absence of manifest error, will be final and
      binding.

     

    “LIBOR
      Business Day”:
      Any
      day on which banks in London, England and The City of New York are open and
      conducting transactions in foreign currency and exchange.

     

    “LIBOR
      Certificates”:
      The
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates and the Subordinate Certificates.

     

    “LIBOR
      Determination Date”:
      The
      second LIBOR Business Day immediately preceding the commencement of each Accrual
      Period for the LIBOR Certificates.

24

     

    “Liquidated
      Mortgage Loan”:
      As to
      any Distribution Date, any Mortgage Loan in respect of which the Servicer has
      determined, as of the end of the related Prepayment Period, that all Liquidation
      Proceeds that it expects to recover with respect to the liquidation of such
      Mortgage Loan or disposition of the related REO Property have been
      recovered.

     

    “Liquidation
      Event”:
      With
      respect to any Mortgage Loan, any of the following events: (i) such Mortgage
      Loan is paid in full; (ii) a Final Recovery Determination is made as to such
      Mortgage Loan; or (iii) such Mortgage Loan is removed from the Trust Fund by
      reason of its being purchased, sold or replaced pursuant to or as contemplated
      hereunder. With respect to any REO Property, either of the following events:
      (i)
      a Final Recovery Determination is made as to such REO Property; or (ii) such
      REO
      Property is removed from the Trust Fund by reason of its being sold or purchased
      pursuant to Section 10.01 hereof or the applicable provisions of the Servicing
      Agreement.

     

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

     

    “Liquidation
      Proceeds”:
      With
      respect to any Mortgage Loan, the amount (other than amounts received in respect
      of the rental of any REO Property prior to REO Disposition) received by the
      Servicer as proceeds from the liquidation of such Mortgage Loan, as determined
      in accordance with the applicable provisions of the Servicing Agreement, other
      than Recoveries; provided
      that
      with respect to any Mortgage Loan or REO Property repurchased, substituted
      or
      sold pursuant to or as contemplated hereunder, or pursuant to the applicable
      provisions of the Servicing Agreement, “Liquidation Proceeds” shall also include
      amounts realized in connection with such repurchase, substitution or
      sale.

     

    “Loan
      Group”:
      Either
      of Loan Group 1 or Loan Group 2, as the context requires.

     

    “Loan
      Group Balance”:
      As to
      each Loan Group and any Distribution Date, the aggregate of the Stated Principal
      Balances, as of the Close of Business on the first day of the month preceding
      the month in which such Distribution Date occurs, of the Mortgage Loans in
      such
      Loan Group that were Outstanding Mortgage Loans on that day.

     

    “Loan
      Group 1”:
      At any
      time, the Group 1 Mortgage Loans in the aggregate and any REO Properties
      acquired in respect thereof.

     

    “Loan
      Group 2”:
      At any
      time, the Group 2 Mortgage Loans in the aggregate and any REO Properties
      acquired in respect thereof.

     

    “Loan
      Rate”:
      With
      respect to each Mortgage Loan, the annual rate at which interest accrues on
      such
      Mortgage Loan from time to time in accordance with the provisions of the related
      Mortgage Note.

     

    “Loan-to-Value
      Ratio”:
      With
      respect to each Mortgage Loan and any date of determination, a fraction,
      expressed as a percentage, the numerator of which is the Principal Balance
      of
      the Mortgage Loan at such date of determination and the denominator of which
      is
      the Value of the related Mortgaged Property.

25

    

      “Lost
        Note Affidavit”:
        With
        respect to any Mortgage Loan as to which the original Mortgage Note has been
        lost or destroyed and has not been replaced, an affidavit from the Seller
        certifying that the original Mortgage Note has been lost, misplaced or destroyed
        (together with a copy of the related Mortgage Note and indemnifying the Trust
        Fund against any loss, cost or liability resulting from the failure to deliver
        the original Mortgage Note) in the form of Exhibit H hereto.

       

      “Lower-Tier
        Regular Interest”:
        As
        described in the Preliminary Statement.

       

      “Lower-Tier
        REMIC”:
        As
        described in the Preliminary Statement.

       

      “Majority
        Certificateholders”:
        The
        Holders of Certificates evidencing at least 51% of the Voting
        Rights.

       

      “Maximum
        Loan Rate”:
        With
        respect to each Mortgage Loan, the percentage set forth in the related Mortgage
        Note as the maximum Loan Rate thereunder.

       

      “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.

       

      “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
        Interest Distributable Amount”:
        With
        respect to each Class of Certificates (other than the Class C, Class P and
        Class
        R Certificates) and any Distribution Date, the amount of interest accrued
        during
        the related Accrual Period at the lesser of the related Pass-Through Rate
        and
        the related Adjusted Cap Rate on the Class Principal Balance of that Class
        immediately prior to that Distribution Date, in each case, reduced by any
        Interest Shortfalls allocated to such Class (allocated to each Certificate
        based
        on its respective entitlements to interest irrespective of any Interest
        Shortfalls for such Distribution Date) pursuant to Section 5.01; provided,
        however,
        that
        for purposes of compliance with the REMIC Provisions, (A) the Monthly Interest
        Distributable Amount for each Class of Subordinate Certificates shall be
        calculated by reducing the related Pass-Through Rate by a per annum rate
        equal
        to (i) 12 times the Subordinate Class Expense Share for such Class divided
        by
        (ii) the
        Class Principal Balance of such Class as of the beginning of the related
        Accrual
        Period and (B) such Class shall be deemed to bear interest at such Pass-Through
        Rate as so reduced for federal income tax purposes.

      26

      “Monthly
        Payment”:
        With
        respect to any Mortgage Loan, the scheduled monthly payment of principal
        and/or
        interest on such Mortgage Loan that is payable by the related Mortgagor from
        time to time under the related Mortgage Note, determined, for the purposes
        of
        this Agreement: (a) after giving effect to any reduction in the amount of
        interest collectible from the related Mortgagor pursuant to the Relief Act;
        (b)
        without giving effect to any extension granted or agreed to by the Servicer
        pursuant to the applicable provisions of the Servicing Agreement; and (c)
        on the
        assumption that all other amounts, if any, due under such Mortgage Loan are
        paid
        when due.

       

      “Moody’s”:
        Moody’s Investors Service, Inc. and its successors.

       

      “Mortgage”:
        The
        mortgage, deed of trust or other instrument creating a first lien on, or
        first
        priority security interest in, a Mortgaged Property securing a Mortgage
        Note.

       

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

       

      “Mortgage
        Loan”:
        Each
        mortgage loan (including Cooperative Loans) transferred and assigned to the
        Trustee pursuant to Section 2.01 or Section 2.03(d) hereof as from time to
        time
        held as a part of the Trust Fund, the Mortgage Loans so held being identified
        in
        the Mortgage Loan Schedule.

       

      “Mortgage
        Loan Purchase Agreement”:
        The
        Mortgage Loan Purchase Agreement between the Seller and the Depositor, dated
        as
        of September 1, 2006, regarding the transfer of the Mortgage Loans by the
        Seller
        (including the Seller’s rights and interest in the Servicing Agreement) to or at
        the direction of the Depositor.

       

      “Mortgage
        Loan Schedule”:
        As of
        any date, the list of Mortgage Loans included in the Trust Fund on such date,
        attached hereto as Schedule I. The Mortgage Loan Schedule shall be prepared
        by
        the Seller and shall set forth the following information with respect to
        each
        Mortgage Loan:

       

      
        	 	
                (i)

              	
                the
                  Mortgage Loan identifying number;

              

      

       

      
        	 	
                (ii)

              	
                the
                  state and five-digit ZIP code of the Mortgaged
                  Property;

              

      

       

      
        	 	
                (iii)

              	
                a
                  code indicating whether the Mortgaged Property was represented
                  by the
                  borrower, at the time of origination, as being
                  owner-occupied;

              

      

       

      
        	 	
                (iv)

              	
                a
                  code indicating whether the Residential Dwelling constituting the
                  Mortgaged Property is (a) a detached single family dwelling, (b)
                  a
                  dwelling in a planned unit development, (c) a condominium unit,
                  (d) a two-
                  to four-unit residential property, (e) a townhouse or (f) other
                  type of
                  Residential Dwelling;

              

      

      27

       

      
        	 	
                (v)

              	
                if
                  the related Mortgage Note permits the borrower to make Monthly
                  Payments of
                  interest only for a specified period of time, (a) the original
                  number of
                  such specified Monthly Payments and (b) the remaining number of
                  such
                  Monthly Payments as of the Cut-off
                  Date;

              

      

       

      
        	 	
                (vi)

              	
                the
                  original months to maturity;

              

      

       

      
        	 	
                (vii)

              	
                the
                  stated remaining months to maturity from the Cut-off Date based
                  on the
                  original amortization schedule;

              

      

       

      
        	 	
                (viii)

              	
                the
                  Loan-to-Value Ratio at origination;

              

      

       

      
        	 	
                (ix)

              	
                the
                  Loan-to-Collateral Value Ratio at
                  origination;

              

      

       

      
        	 	
                (x)

              	
                the
                  Loan Rate in effect immediately following the Cut-off
                  Date;

              

      

       

      
        	 	
                (xi)

              	
                the
                  date on which the first Monthly Payment is or was due on the Mortgage
                  Loan;

              

      

       

      
        	 	
                (xii)

              	
                the
                  stated maturity date;

              

      

       

      
        	 	
                (xiii)

              	
                the
                  Servicing Fee Rate;

              

      

       

      
        	 	
                (xiv)

              	
                the
                  last Due Date on which a Monthly Payment was actually applied to
                  the
                  unpaid Stated Principal Balance;

              

      

       

      
        	 	
                (xv)

              	
                the
                  original principal balance of the Mortgage
                  Loan;

              

      

       

      
        	 	
                (xvi)

              	
                the
                  Stated Principal Balance of the Mortgage Loan on the Cut-off Date
                  and a
                  code indicating the purpose of the Mortgage Loan (i.e., purchase
                  financing, rate/term refinancing, cash-out
                  refinancing);

              

      

       

      
        	 	
                (xvii)

              	
                the
                  Index and Gross Margin specified in related Mortgage
                  Note;

              

      

       

      
        	 	
                (xviii)

              	
                the
                  next Adjustment Date, if
                  applicable;

              

      

       

      
        	 	
                (xix)

              	
                the
                  Maximum Loan Rate, if applicable;

              

      

       

      
        	 	
                (xx)

              	
                the
                  Value of the Mortgaged Property;

              

      

       

      
        	 	
                (xxi)

              	
                the
                  sale price of the Mortgaged Property, if
                  applicable;

              

      

       

      
        	 	
                (xxii)

              	
                the
                  product code;

              

      

       

      
        	 	
                (xxiii)

              	
                whether
                  the Mortgage Loan is a Lender-Paid Mortgage Insurance Loan, and
                  the
                  applicable Lender-Paid Mortgage Insurance Fee Rate, if
                  applicable;

              

      

      28

        	 	
                (xxiv)

              	
                the
                  Expense Fee Rate therefor; and

              

       

      
        	 	
                (xxv)

              	
                the
                  respective Loan Group.

              

      

       

      Information
        set forth in clauses (ii) and (iii) above regarding each Mortgagor and the
        related Mortgaged Property shall be confidential and the Trustee shall not
        disclose such information except to the extent disclosure may be required
        by any
        law or regulatory or administrative authority; provided,
        however,
        that
        the Trustee may disclose on a confidential basis any such information to
        its
        agents, attorneys and any auditors in connection with the performance of
        its
        responsibilities hereunder.

       

      The
        Mortgage Loan Schedule, as in effect from time to time, shall also set forth
        the
        following information with respect to the Mortgage Loans in the aggregate
        and by
        Loan Group as of the Cut-off Date: (1) the number of Mortgage Loans;
        (2) the current Principal Balance of the Mortgage Loans; (3) the
        weighted average Loan Rate of the Mortgage Loans; and (4) the weighted
        average remaining months to maturity of the Mortgage Loans. The Mortgage
        Loan
        Schedule shall be amended from time to time by the Seller in accordance with
        the
        provisions of this Agreement.

       

      “Mortgage
        Note”:
        The
        original executed note or other evidence of indebtedness evidencing the
        indebtedness of a Mortgagor under a Mortgage Loan.

       

      “Mortgaged
        Property”:
        Either
        of (x) the fee simple or leasehold interest in real property, together with
        improvements thereto including any exterior improvements to be completed
        within
        120 days of disbursement of the related Mortgage Loan proceeds, or (y) in
        the
        case of a Cooperative Loan, the related Cooperative Shares and Proprietary
        Lease, securing the indebtedness of the Mortgagor under the related Mortgage
        Loan.

       

      “Mortgagor”:
        The
        obligor on a Mortgage Note.

       

      “MTA”:
        The
        twelve-month average yields on United States Treasury securities adjusted
        to a
        constant maturity of one year as published by the Federal Reserve Board in
        Statistical Release H.15(519).

       

      “MTA
        Indexed”:
        Indicates a Mortgage Loan that has an adjustable Loan Rate calculated on
        the
        basis of the MTA index.

       

      “Net
        Deferred Interest”:
        With
        respect to each Loan Group and any Distribution Date, the greater of (i)
        the
        excess, if any, of the Deferred Interest for the related Due Date over the
        aggregate amount of any principal prepayments in part or in full received
        during
        the related Prepayment Period and (ii) zero.

       

      “Net
        Interest Shortfall”:
        With
        respect to any Distribution Date, the excess of the Interest Shortfall, if
        any,
        for such Distribution Date over the sum of (i) Interest Shortfalls paid by
        the
        Servicer under the Servicing Agreement with respect to such Distribution
        Date
        and (ii) Compensating Interest Payments made with respect to such Distribution
        Date.

      29

      “Net
        Liquidation Proceeds”:
        With
        respect to any Liquidated Mortgage Loan or any other disposition of related
        Mortgaged Property (including REO Property) the related Liquidation Proceeds
        net
        of Advances, related Servicing Advances, related Servicing Fees and any other
        accrued and unpaid fees received and retained in connection with the liquidation
        of such Mortgage Loan or Mortgaged Property.

       

      “Net
        Loan Rate”:
        With
        respect to any Mortgage Loan (or the related REO Property), as of any date
        of
        determination, a per annum rate of interest equal to the then applicable
        Loan
        Rate for such Mortgage Loan minus
        the
        Expense Fee Rate and, commencing on the Distribution Date in October 2016
        and on
        each Distribution Date thereafter until the Final Maturity Reserve Termination
        Date, the Final Maturity Reserve Rate.

       

      “Net
        Maximum Rate”:
        For
        any Mortgage Loan and any Distribution Date, the maximum rate at which interest
        could accrue on such Mortgage Loan net of the sum of (a) the Expense Fee
        Rate
        and (b) commencing on the Distribution Date in October 2016 and on each
        Distribution Date thereafter until the Final Maturity Reserve Termination
        Date,
        the Final Maturity Reserve Rate.

       

      “Net
        Maximum Rate Cap”:
        For
        any Distribution Date will equal the applicable Net WAC Cap, computed for
        this
        purposes on the basis of the assumption that each Mortgage Loan accrued interest
        for the related Accrual Period at its Net Maximum Rate.

       

      “Net
        Monthly Excess Cashflow”:
        For
        any Distribution Date is equal to the sum of (a) any Overcollateralization
        Release Amount and (b) the excess of (x) the Available Funds for such
        Distribution Date over (y) the sum for such Distribution Date of (A) the Monthly
        Interest Distributable Amounts for the LIBOR Certificates, (B) the Unpaid
        Interest Shortfall Amounts for the Class 1A-1A, Class 2A-1A, Class 2A-1B1,
        Class
        2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates and (C) the Principal
        Remittance Amount.

       

      “Net
        Realized Losses”:
        For
        any Class of Certificates and any Distribution Date, the excess of (i) the
        amount of Realized Losses previously allocated to that Class over (ii) the
        sum
        of (a) the amount of any increases to the Class Principal Balance of that
        Class
        pursuant to Section 5.08 due to Recoveries and (b) any payments received
        pursuant to Section 5.01(h)(ii) from the Yield Maintenance Account.

       

      “Net
        WAC”:
        With
        respect to any Distribution Date, the weighted average of the Net Loan Rates
        of
        the Mortgage Loans as of the first day of the related Due Period (or, in
        the
        case of the first Distribution Date, as of the Cut-off Date), weighted on
        the
        basis of the related Stated Principal Balances at the beginning of the related
        Due Period.

       

      “Net
        WAC Cap”:
        For
        the LIBOR Certificates (other than the Class 2A-1C2 Certificates) and any
        Distribution Date is equal to the product of (x) the Net WAC and (y) a fraction,
        the numerator of which is 30 and the denominator of which is the actual number
        of days in the related Accrual Period. For the Class 2A-1C2 Certificates
        and any
        Distribution Date is equal to the excess, if any, of (x) the Net WAC Cap
        for the
        Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2 and Class 2A-1C1
        Certificates and the Subordinate Certificates for such Distribution Date
        over
        (y) the Insurer Premium Rate for such Distribution Date.

      30

      “NIM
        Redemption Amount”:
        As
        defined in Section 10.01(a).

       

      “NIM
        Securities”:
        Any
        net interest margin securities issued by a trust or other special purpose
        entity
        pursuant to an Indenture, the principal assets of such issuing entity include
        the Class P and Class C Certificates and the payments received thereon, which
        principal assets back such securities.

       

      “NIMS
        Agreement”:
        Any
        agreement pursuant to which the NIM Securities are issued.

       

      “NIMS
        Insurer”:
        One or
        more insurance issuing financial guaranty insurance policies in connection
        with
        the issuance of NIM Securities.

       

      “Nonrecoverable”:
        The
        determination by the Servicer in respect of a delinquent Mortgage Loan that
        if
        it were to make an Advance in respect thereof, such amount would not be
        recoverable from any collections or other recoveries (including Liquidation
        Proceeds) on such Mortgage Loan.

       

      “Notice”:
        As
        defined in the Certificate Insurance Policy.

       

      “Offered
        Certificates”:
        The
        Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1, Class
        2A-1C2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6
        and
        Class B-7 Certificates.

       

      “Officers’
        Certificate”:
        A
        certificate signed by the Chairman of the Board, the Vice Chairman of the
        Board,
        the President or a vice president (however denominated), or by the Treasurer,
        the Secretary, or one of the assistant treasurers or assistant secretaries
        of
        the Seller or the Depositor, as applicable.

       

      “One-Month
        LIBOR”:
        The
        average of interbank offered rates for one month U.S. dollar deposits in
        the
        London market based on quotations of major banks.

       

      “Opinion
        of Counsel”:
        A
        written opinion of counsel, who may, without limitation, be a salaried counsel
        for the Depositor or the Seller, acceptable to the Trustee, except that any
        opinion of counsel relating to (a) the qualification of any REMIC created
        hereunder as a REMIC or (b) compliance with the REMIC Provisions must be
        an
        opinion of Independent counsel.

       

      “Original
        Class Principal Balance”:
        With
        respect to each Class of Certificates other than the Class C, Class P and
        Class
        R Certificates, the corresponding aggregate amount set forth opposite the
        Class
        designation of such Class in the Preliminary Statement. 

       

      “Originator”:
        Countrywide or any other originator contemplated by Item 1110 (§ 229.1110) of
        Regulation AB.

       

      “OTS”:
        The
        Office of Thrift Supervision.

       

      “Outstanding
        Mortgage Loan”:
        As of
        any Due Date, a Mortgage Loan with a Stated Principal Balance greater than
        zero,
        that was not the subject of a prepayment in full prior to such Due Date and
        that
        did not become a Liquidated Mortgage Loan prior to such Due
        Date.

      31

      “Overcollateralization
        Deficiency Amount”:
        With
        respect to any Distribution Date, the amount, if any, by which the
        Overcollateralization Target Amount exceeds the Overcollateralized Amount
        on
        such Distribution Date (assuming that 100% of the Principal Remittance Amount
        is
        applied as a principal payment on such Distribution Date).

       

      “Overcollateralization
        Release Amount”:
        With
        respect to any Distribution Date, the lesser of (x) the Principal Remittance
        Amount for such Distribution Date and (y) the excess, if any, of (i) the
        Overcollateralized Amount for such Distribution Date (assuming that 100%
        of the
        Principal Remittance Amount is applied as a principal payment on such
        Distribution Date) over (ii) the Overcollateralization Target Amount for
        such
        Distribution Date.

       

      “Overcollateralization
        Target Amount”:
        With
        respect to any Distribution Date, an amount equal to (i) prior to the Stepdown
        Date, 0.50% of the sum of the aggregate Stated Principal Balance of the Mortgage
        Loans as of the Cut-off Date, (ii) on or after the Stepdown Date so long
        as a
        Trigger Event is not in effect, the greater of (x) (I) 1.25% of the aggregate
        Stated Principal Balance of the Mortgage Loans prior to the Distribution
        Date in
        October 2012 or (II) 1.00% of the aggregate Stated Principal Balance of the
        Mortgage Loans on or after the Distribution Date in October 2012 and (y)
        0.50%
        of the aggregate Stated Principal Balance of the Mortgage Loans as of the
        Cut-off Date; or (iii) on or after the Stepdown Date and if a Trigger Event
        is
        in effect, the Overcollateralization Target Amount for the immediately preceding
        Distribution Date.

       

      “Overcollateralized
        Amount”:
        For
        any Distribution Date, an amount equal to (i) the sum of the aggregate Stated
        Principal Balance of the Mortgage Loans as of the last day of the related
        Prepayment Period (after giving effect to scheduled payments of principal
        due
        during the related Due Period, to the extent received or advanced, and
        unscheduled collections of principal received during the related Prepayment
        Period) minus (ii) the sum of the aggregate Certificate Principal Balance
        of the
        LIBOR Certificates and the Class P Certificates as of such Distribution Date
        (after giving effect to distributions to be made on such Distribution Date)
        from
        the Principal Remittance Amount.

       

      “Ownership
        Interest”:
        As to
        any Certificate, any ownership or security interest in such Certificate,
        including any interest in such Certificate as the Holder thereof and any
        other
        interest therein, whether direct or indirect, legal or beneficial, as owner
        or
        as pledgee.

       

      “Pass-Through
        Rate”:
        With
        respect to each Class of Offered Certificates and any Distribution Date,
        the
        rate set forth below:

       

      
        	 	
                (i)

              	
                The
                  Pass-Through Rate for the Class 1A-1A Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.210%
                  per annum (0.420% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (ii)

              	
                The
                  Pass-Through Rate for the Class 2A-1A Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.210%
                  per annum (0.420% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

      32

       

      
        	 	
                (iii)

              	
                The
                  Pass-Through Rate for the Class 2A-1B1 Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.260%
                  per annum (0.520% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.

              

      

       

      
        	 	
                (iv)

              	
                The
                  Pass-Through Rate for the Class 2A-1B2 Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.280%
                  per annum (0.560% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.

              

      

       

      
        	 	
                (v)

              	
                The
                  Pass-Through Rate for the Class 2A-1C1 Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.300%
                  per annum (0.600% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.

              

      

       

      
        	 	
                (vi)

              	
                The
                  Pass-Through Rate for the Class 2A-1C2 Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.210%
                  per annum (0.420% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date, (iii) the Net Maximum Rate
                  Cap and
                  (iv) 10.00% per annum.

              

      

       

      
        	 	
                (vii)

              	
                The
                  Pass-Through Rate for the Class B-1 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.410%
                  per annum (0.615% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (viii)

              	
                The
                  Pass-Through Rate for the Class B-2 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.420%
                  per annum (0.630% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (ix)

              	
                The
                  Pass-Through Rate for the Class B-3 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.450%
                  per annum (0.675% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (x)

              	
                The
                  Pass-Through Rate for the Class B-4 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.600%
                  per annum (0.900% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

      33

       

      
        	 	
                (xi)

              	
                The
                  Pass-Through Rate for the Class B-5 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.700%
                  per annum (1.050% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (xii)

              	
                The
                  Pass-Through Rate for the Class B-6 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 1.250%
                  per annum (1.875% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (xiii)

              	
                The
                  Pass-Through Rate for the Class B-7 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 2.000%
                  per annum (3.000% per annum after the Call Option Date), (ii) the Net
                  WAC Cap for that Distribution Date and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      “Paying
        Agent”:
        Any
        paying agent appointed pursuant to Section 6.05 hereof, initially, the
        Trustee.

       

      “PCAOB”:
        The
        Public Company Accounting Oversight Board.

       

      “Percentage
        Interest”:
        With
        respect to any Certificate (other than a Class C, Class P and Class R
        Certificate), a fraction, expressed as a percentage, the numerator of which
        is
        the Initial Certificate Principal Balance represented by such Certificate
        and
        the denominator of which is the Original Class Principal Balance or Original
        Class Notional Balance, as applicable, of the related Class. With respect
        to the
        Class C, Class P and Class R Certificates, 100%.

       

      “Permitted
        Investments”:
        Any
        one or more of the following obligations or securities acquired at a purchase
        price of not greater than par, regardless of whether issued or managed by
        the
        Depositor, the Servicer, the Trustee or any of their respective Affiliates
        or
        for which an Affiliate of the Trustee serves as an advisor:

       

      
        	 	
                (i)

              	
                direct
                  obligations of, or obligations fully guaranteed as to timely payment
                  of
                  principal and interest by, the United States or any agency or
                  instrumentality thereof, provided such obligations are backed by
                  the full
                  faith and credit of the United States;

              

      

       

      
        	 	
                (ii)

              	
                (A)
                  demand and time deposits in, certificates of deposit of, bankers’
                  acceptances issued by or federal funds sold by any depository institution
                  or trust company (including the Trustee or the Servicer or their
                  agents
                  acting in their respective commercial capacities) 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 authorities,
                  so long
                  as, at the time of such investment or contractual commitment providing
                  for
                  such investment, such depository institution or trust company or
                  its
                  ultimate parent has a short-term uninsured debt rating in one of
                  the two
                  highest available rating categories of each of the Rating Agencies
                  and (B)
                  any other demand or time deposit or deposit which is fully insured
                  by the
                  FDIC;

              

      

      34

       

      
        	 	
                (iii)

              	
                repurchase
                  obligations with respect to any security described in clause
                  (i) above and entered into with a depository institution or trust
                  company (acting as principal) rated A or higher by each of the
                  Rating
                  Agencies;

              

      

       

      
        	 	
                (iv)

              	
                securities
                  bearing interest or sold at a discount that are issued by any corporation
                  incorporated under the laws of the United States of America, the
                  District
                  of Columbia or any State thereof and that are rated by each Rating
                  Agency
                  in its highest long-term unsecured rating categories at the time
                  of such
                  investment or contractual commitment providing for such
                  investment;

              

      

       

      
        	 	
                (v)

              	
                commercial
                  paper (including both non-interest-bearing discount obligations
                  and
                  interest-bearing obligations) that is rated by each Rating Agency
                  in its
                  highest short-term unsecured debt rating available at the time
                  of such
                  investment;

              

      

       

      
        	 	
                (vi)

              	
                any
                  mutual fund, money market fund, common trust fund or other pooled
                  investment vehicle, including any such fund that is managed by
                  the NIMS
                  Insurer, or for which the NIMS Insurer or any of its affiliates
                  acts as an
                  adviser as long as such fund is rated in at least the second highest
                  rating category by each Rating Agency rating such fund or vehicle;
                  and the
                  NIMS Insurer may trade with itself or an affiliate when purchasing
                  or
                  selling Permitted Investments; and

              

      

       

      
        	 	
                (vii)

              	
                if
                  previously confirmed in writing to the Trustee, any other demand,
                  money
                  market or time deposit, or any other obligation, security or investment,
                  as may be acceptable to each Rating Agency in writing as a permitted
                  investment of funds backing securities having ratings equivalent
                  to its
                  highest initial ratings of the Senior
                  Certificates;

              

      

       

      provided,
        however,
        that no
        instrument described hereunder shall evidence either the right to receive
        (a)
        only interest with respect to the obligations underlying such instrument
        or (b)
        both principal and interest payments derived from obligations underlying
        such
        instrument and the interest and principal payments with respect to such
        instrument provide a yield to maturity at par greater than 120% of the yield
        to
        maturity at par of the underlying obligations.

       

      “Permitted
        Transferee”:
        Any
        Transferee of a Residual Certificate other than a Disqualified Organization
        or a
        non-U.S. Person.

       

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

       

      “Physical
        Certificates”:
        The
        Class C, Class P and Class R Certificates.

        35

      “Policy
        Account”:
        The
        trust account or accounts created and maintained by the Trustee pursuant
        to
        Section 4.05 hereof in the name of the Trustee for the benefit of the Class
        2A-1C2 Certificateholders and designated “Policy Account, Deutsche Bank National
        Trust Company, as Trustee, in trust for the registered Certificateholders
        of
        HarborView Mortgage Loan Trust 2006-9, Mortgage Pass-Through Certificates,
        Series 2006-9, Class 2A-1C2 Certificates.”

       

      “Pool
        Balance”:
        With
        respect to any Distribution Date, the aggregate of the Stated Principal
        Balances, as of the Close of Business on the first day of the related Due
        Period, of the Mortgage Loans in all Loan Groups that were Outstanding Mortgage
        Loans on that day.

       

      “Preference
        Amounts”:
        As
        defined in the Certificate Insurance Policy.

       

      “Premium
        Proceeds”:
        The
        amount by which the Termination Price paid in connection with the termination
        pursuant to Section 10.01 hereof exceeds the sum of (i) accrued and unpaid
        interest and unpaid principal on the Certificates, (ii) any unreimbursed
        Servicing Advances and Advances and (iii) all amounts, if any, then due and
        owing to the Trustee and the Certificate Insurer under this
        Agreement.

       

      “Prepayment
        Penalty Amount”:
        With
        respect to any Mortgage Loan and each Distribution Date, all premiums or
        charges, if any, paid by Mortgagors under the related Mortgage Notes as a
        result
        of full or partial Principal Prepayments collected and deposited into the
        Distribution Account during the immediately preceding Prepayment Period,
        under
        the terms of the Servicing Agreement.

       

      “Prepayment
        Period”:
        With
        respect to any Distribution Date the calendar month preceding the month in
        which
        such Distribution Date occurs.

       

      “Primary
        Insurance Policy”:
        Mortgage guaranty insurance, if any, on an individual Mortgage Loan, as
        evidenced by a policy or certificate.

       

      “Principal
        Balance”:
        As to
        any Mortgage Loan, other than a Liquidated Mortgage Loan, and any day, the
        related Cut-off Date Principal Balance, minus
        all
        collections credited against the Principal Balance of such Mortgage Loan
        after
        the Cut-off Date, as increased by the amount of any Deferred Interest added
        to
        the outstanding Principal Balance of such Mortgage Loan pursuant to the terms
        of
        the related Mortgage Note. For purposes of this definition, a Liquidated
        Mortgage Loan shall be deemed to have a Principal Balance equal to the Principal
        Balance of the related Mortgage Loan as of the final recovery of related
        Liquidation Proceeds and a Principal Balance of zero thereafter. As to any
        REO
        Property and any day, the Principal Balance of the related Mortgage Loan
        immediately prior to such Mortgage Loan becoming REO Property.

       

      “Principal
        Deficiency Amount”:
        For
        any Distribution Date and for any Undercollateralized Group, the excess,
        if any,
        of the aggregate Class Principal Balance of such Undercollateralized Group
        immediately prior to such Distribution Date over the sum of the Principal
        Balances of the Mortgage Loans in the related Loan Group immediately prior
        to
        such Distribution Date.

      36

      “Principal
        Distribution Amount”:
        For
        any Distribution Date and Loan Group, the excess of (x) the related Principal
        Remittance Amount reduced by the lesser of (a) Principal Prepayments received
        for the related Loan Group during the related Prepayment Period and (b) the
        amount of Deferred Interest added to the Principal Balance of the Mortgage
        Loans
        in the related Loan Group on the Due Date in the month of such Distribution
        Date
        over (y) such Loan Group’s pro rata share, based on the aggregate outstanding
        Principal Balance of the Mortgage Loans, of the Overcollateralization Release
        Amount for such Distribution Date.

       

      “Principal
        Prepayment”:
        Any
        payment of principal made by the Mortgagor on a Mortgage Loan that is received
        in advance of its scheduled Due Date and that is not accompanied by an amount
        of
        interest representing the full amount of scheduled interest due on any Due
        Date
        in any month or months subsequent to the month of prepayment.

       

      “Principal
        Remittance Amount”:
        With
        respect to each Loan Group and any Distribution Date, the sum of (a) each
        scheduled payment of principal collected or advanced on the related Mortgage
        Loans (before taking into account any Deficient Valuations or Debt Service
        Reductions) by the Servicer in respect of the related Due Period, (b) that
        portion of the Purchase Price or Repurchase Price, as applicable, representing
        principal of any repurchased Mortgage Loan in that Loan Group, deposited
        to the
        Distribution Account during the related Prepayment Period, (c) the
        principal portion of any related Substitution Adjustments with respect to
        that
        Loan Group deposited in the Distribution Account during the related Prepayment
        Period, (d) the principal portion of all Insurance Proceeds received during
        the related Prepayment Period with respect to Mortgage Loans in that Loan
        Group
        that are not yet Liquidated Mortgage Loans, (e) the principal portion of
        all Net Liquidation Proceeds received during the related Prepayment Period
        with
        respect to Liquidated Mortgage Loans in that Loan Group other than Recoveries,
        (f) all Principal Prepayments (net of Deferred Interest) in part or in full
        on Mortgage Loans received by the Servicer during the related Prepayment
        Period,
        net of
        Deferred Interest, (g) all Recoveries related to that Loan Group received
        during
        the related Prepayment Period, (h) the outstanding principal balance of each
        Mortgage Loan purchased from the Trust Fund by the NIMS Insurer (in the case
        of
        certain Mortgage Loans 90 days or more delinquent) and (i) on
        the Distribution Date on which the Trust Fund is to be terminated pursuant
        to
        Section 10.01 hereof, that portion of the Termination Price in respect of
        principal for that Loan Group.

       

      “Private
        Certificates”:
        The
        Class C, Class P and Class R Certificates.

       

      “Pro
        Rata Share”:
        With
        respect to any Distribution Date and any Class of Subordinate Certificates,
        the
        portion of the Subordinate Principal Distribution Amount allocable to such
        Class, equal to the product of the (a) Subordinate Principal Distribution
        Amount
        on such date and (b) a fraction, the numerator of which is the related Class
        Principal Balance of that Class and the denominator of which is the aggregate
        of
        the Class Principal Balances of all the Classes of Subordinate
        Certificates.

       

      “Proprietary
        Lease”:
        With
        respect to any Cooperative Unit, a lease or occupancy agreement between a
        Cooperative Corporation and a holder of related Cooperative Shares.

       

      “Prospectus”:
        The
        Prospectus Supplement, together with the accompanying prospectus, dated August
        10, 2006, relating to the Offered Certificates.

        37

      “Prospectus
        Supplement”:
        That
        certain prospectus supplement dated October 3, 2006, relating to the initial
        offering of the Offered Certificates.

       

      “Purchase
        Agreement”:
        The
        Master Mortgage Loan Purchase and Servicing Agreement dated as of April 1,
        2003,
        as amended by that certain Amendment Number One dated November 1, 2004, and
        as
        further amended by that certain Amendment Reg AB dated December 1, 2005,
        between
        GCFP, as purchaser, and Countrywide, as seller, as reconstituted by the
        Reconstitution Agreement, and as supplemented by the Representation Letter,
        as
        the same may be amended from time to time, and any assignments and conveyances
        related to the Mortgage Loans.

       

      “Purchase
        Price”:
        With
        respect to any Mortgage Loan or REO Property to be purchased pursuant to
        or as
        contemplated by Section 2.03 hereof, and as confirmed by an Officers’
Certificate from the Seller to the Trustee, an amount equal to the sum of
        (i) 100% of the Principal Balance thereof as of the date of purchase (or
        such other price as provided in Section 10.01), plus (ii) in the case of
        (x) a Mortgage Loan, accrued interest on such Principal Balance at the
        applicable Loan Rate (or if the Servicer is repurchasing such Mortgage Loan,
        the
        Loan Rate minus the Servicing Fee Rate) from the Due Date as to which interest
        was last covered by a payment by the Mortgagor through the end of the calendar
        month in which the purchase is to be effected, and (y) an REO Property, the
        sum of (1) accrued interest on such Principal Balance at the applicable
        Loan Rate (or if the Servicer is repurchasing such Mortgage Loan, the Loan
        Rate
        minus the Servicing Fee Rate) from the Due Date as to which interest was
        last
        covered by a payment by the Mortgagor plus (2) REO Imputed Interest for such
        REO
        Property for each calendar month commencing with the calendar month in which
        such REO Property was acquired and ending with the calendar month in which
        such
        purchase is to be effected, net of the total of all net rental income, Insurance
        Proceeds and Liquidation Proceeds that as of the date of purchase had been
        distributed as or to cover REO Imputed Interest, plus (iii) any
        unreimbursed Servicing Advances and any unpaid Expense Fees allocable to
        such
        Mortgage Loan or REO Property, plus (iv) in the case of a Mortgage Loan
        required to be purchased pursuant to Section 2.03 hereof, expenses reasonably
        incurred or to be incurred by the Trustee in respect of the breach or defect
        giving rise to the purchase obligation and plus (v) any costs and damages
        incurred by the Trust Fund in connection with any violation by such Mortgage
        Loan of any predatory- or abusive-lending laws.

       

      “Qualified
        Insurer”:
        A
        mortgage guaranty insurance company duly qualified as such under the laws
        of the
        state of its principal place of business and each state having jurisdiction
        over
        such insurer in connection with the insurance policy issued by such insurer,
        duly authorized and licensed in such states to transact a mortgage guaranty
        insurance business in such states and to write the insurance provided by
        the
        insurance policy issued by it, and having a claims paying ability which is
        acceptable to each Rating Agency for pass-through certificates without a
        certificate insurance policy having the same ratings on the Certificates
        rated
        by each Rating Agency as of the Closing Date. Any replacement insurer with
        respect to a Mortgage Loan must have at least as high a claims paying ability
        rating as the insurer it replaces had on the Closing Date.

      38

      “Qualified
        Substitute Mortgage Loan”:
        A
        mortgage loan substituted for a Deleted Mortgage Loan pursuant to the terms
        of
        this Agreement which must, on the date of such substitution, (i) have an
        outstanding principal balance, after application of all scheduled payments
        of
        principal and interest due during or prior to the month of substitution,
        not in
        excess of, and not more than 5% less than, the Principal Balance of the Deleted
        Mortgage Loan as of the Due Date in the calendar month during which the
        substitution occurs, (ii) have a maximum loan rate not less than the
        Maximum Loan Rate of the Deleted Mortgage Loan, (iii)  have a gross margin
        equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (iv)
        have the same Index as the Deleted Mortgage Loan, (v) have its next adjustment
        date not more than two months after the next Adjustment Date of the Deleted
        Mortgage Loan, (vi) have a remaining term to maturity not greater than (and
        not
        more than one year less than) that of the Deleted Mortgage Loan, (vii) be
        current as of the date of substitution, (viii) have a Loan-to-Value Ratio
        and a Loan-to-Collateral Value Ratio as of the date of substitution equal
        to or
        lower than the Loan-to-Value Ratio and the Loan-to-Collateral Value Ratio,
        respectively, of the Deleted Mortgage Loan as of such date, (ix) have been
        underwritten or re-underwritten in accordance with the same or substantially
        similar underwriting criteria and guidelines as the Deleted Mortgage Loan,
        (x)
        is of the same or better credit quality as the Deleted Mortgage Loan and
        (xi) conform to each representation and warranty set forth in Section 2.04
        hereof applicable to the Deleted Mortgage Loan. In the event that one or
        more
        mortgage loans are substituted for one or more Deleted Mortgage Loans, the
        amounts described in clause (i) hereof shall be determined on the basis of
        aggregate principal balances, the terms described in clause (vi) hereof
        shall be determined on the basis of weighted average remaining term to maturity,
        the Loan-to-Value Ratio and Loan-to-Collateral Value Ratio described in clause
        (viii) hereof shall be satisfied as to each such mortgage loan and, except
        to the extent otherwise provided in this sentence, the representations and
        warranties described in clause (x) hereof must be satisfied as to each
        Qualified Substitute Mortgage Loan or in the aggregate, as the case may
        be.

       

      “Rating
        Agency”:
        Each
        of S&P and Moody’s and any respective successors thereto. If Moody’s,
        S&P or their respective successors shall no longer be in existence, “Rating
        Agency” shall include such nationally recognized statistical rating agency or
        agencies, or other comparable Person or Persons, as shall have been designated
        by the Depositor, notice of which designation shall be given to the
        Trustee.

       

      “Realized
        Loss”:
        With
        respect to any Liquidated Mortgage Loan, the amount of loss realized equal
        to
        the portion of the Principal Balance remaining unpaid after application of
        all
        Net Liquidation Proceeds in respect of such Liquidated Mortgage
        Loan.

       

      “Recognition
        Agreement”:
        With
        respect to any Cooperative Loan, an agreement between the related Cooperative
        Corporation and the originator of such Mortgage Loan to establish the rights
        of
        such originator in the related Cooperative Property.

       

      “Reconstitution
        Agreement”:
        The
        reconstituted servicing agreement dated as of September 1, 2006 among the
        Seller, the Depositor, Countrywide Home Loans, Inc. and the Servicer and
        acknowledged by the Trustee, reconstituting the Servicing
        Agreement.

       

      “Record
        Date”:
        With
        respect to each Distribution Date and the LIBOR Certificates, the Business
        Day
        preceding the applicable Distribution Date so long as such Certificates remain
        Book-Entry Certificates and otherwise the Record Date shall be same as the
        other
        Classes of Certificates. For each other Class of Certificates, the last Business
        Day of the calendar month preceding the month in which such Distribution
        Date
        occurs.

      39

      “Recovery”:
        With
        respect to any Distribution Date and a Mortgage Loan that became a Liquidated
        Mortgage Loan in the month preceding the month prior to that Distribution
        Date
        and with respect to which the related Realized Loss was allocated to one
        or more
        Classes of Certificates, an amount received in respect of such Liquidated
        Mortgage Loan during the prior calendar month, net of any reimbursable
        expenses.

       

      “Reference
        Bank:”
A
        leading bank engaged in transactions in Eurodollar deposits in the international
        Eurocurrency market, which shall not control, be controlled by, or be under
        common control with, the Trustee and shall have an established place of business
        in London. Until all of the LIBOR Certificates are paid in full, the Trustee
        will at all times retain at least four Reference Banks for the purpose of
        determining LIBOR with respect to each LIBOR Determination Date. The Trustee
        initially shall designate the Reference Banks (after consultation with the
        Depositor). If any such Reference Bank should be unwilling or unable to act
        as
        such or if the Trustee should terminate its appointment as Reference Bank,
        the
        Trustee shall promptly appoint or cause to be appointed another Reference
        Bank
        (after consultation with the Depositor). The Trustee shall have no liability
        or
        responsibility to any Person for (i) the selection of any Reference Bank
        for
        purposes of determining LIBOR or (ii) any inability to retain at least four
        Reference Banks which is caused by circumstances beyond its reasonable
        control.

       

      “Refinancing
        Mortgage Loan”:
        Any
        Mortgage Loan originated in connection with the refinancing of an existing
        mortgage loan.

       

      “Regular
        Certificate”:
        Any
        Certificate other than the Class C, Class P and Class R
        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 clarifications and interpretations 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.

       

      “Regulation S”:
        Regulation S promulgated under the Securities Act or any successor
        provision thereto, in each case as the same may be amended from time to time;
        and all references to any rule, section or subsection of, or definition or
        term
        contained in, Regulation S means such rule, section, subsection, definition
        or term, as the case may be, or any successor thereto, in each case as the
        same
        may be amended from time to time.

       

      “Regulation
        S Global Security”:
        The
        meaning specified in Section 6.01.

       

      “Relevant
        Servicing Criteria”:
        The
        Servicing Criteria applicable to each party, as set forth on Exhibit Q attached
        hereto. Multiple parties can have responsibility for the same Relevant Servicing
        Criteria. With respect to a Servicing Function Participant engaged by the
        Trustee, the Custodian or the Servicer, the term “Relevant Servicing Criteria”
may refer to a portion of the Relevant Servicing Criteria applicable to such
        parties.

      40

      “Relief
        Act”:
        The
        Servicemembers Civil Relief Act, as amended, or any similar state or local
        law.

       

      “Relief
        Act Reductions”:
        With
        respect to any Distribution Date and any Mortgage Loan as to which there
        has
        been a reduction in the amount of interest collectible thereon for the most
        recently ended Due Period as a result of the application of the Relief Act,
        the
        amount, if any, by which (i) interest collectible on that Mortgage Loan during
        such Due Period is less than (ii) one month’s interest on the Stated Principal
        Balance of such Mortgage Loan at the Loan Rate for such Mortgage Loan before
        giving effect to the application of the Relief Act.

       

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

       

      “REMIC
        Opinion”:
        An
        Independent Opinion of Counsel, to the effect that the proposed action described
        therein would not cause an Adverse REMIC Event.

       

      “REMIC
        Provisions”:
        Provisions of the federal income tax law relating to real estate mortgage
        investment conduits which appear at Section 860A through 860G of Subchapter
        M of
        Chapter 1 of the Code, and related provisions, and regulations and rulings
        promulgated thereunder, as the foregoing may be in effect from time to
        time.

       

      “Remittance
        Report”:
        The
        Servicer’s Remittance Report to the Trustee pursuant to the Servicing Agreement
        providing information with respect to each Mortgage Loan which is provided
        no
        later than the 10th
        calendar
        day of each month and which shall contain such information as may be agreed
        upon
        by the Trustee and which shall be sufficient to enable the Trustee to prepare
        the related Distribution Date Statement.

       

      “Rents
        from Real Property”:
        With
        respect to any REO Property, gross income of the character described in Section
        856(d) of the Code.

       

      “REO
        Account”:
        The
        account or accounts maintained by the Servicer in respect of an REO Property
        pursuant to the Servicing Agreement.

       

      “REO
        Disposition”:
        The
        sale or other disposition of an REO Property on behalf of the Trust
        Fund.

       

      “REO
        Imputed Interest”:
        As to
        any REO Property, for any calendar month during which such REO Property was
        at
        any time part of the Trust Fund, one month’s interest at the applicable Net Loan
        Rate for such REO Property on the Principal Balance of such REO Property
        (or, in
        the case of the first such calendar month, of the related Mortgage Loan if
        appropriate) as of the Close of Business on the Due Date in such calendar
        month.

       

      “REO
        Principal Amortization”:
        With
        respect to any REO Property, for any calendar month, the excess, if any,
        of (a)
        the aggregate of all amounts received in respect of such REO Property during
        such calendar month, whether in the form of rental income, sale proceeds
        (including, without limitation, that portion of the Termination Price paid
        in
        connection with a purchase of all of the Mortgage Loans and REO Properties
        pursuant to Section 10.01 hereof that is allocable to such REO Property)
        or
        otherwise, net of any portion of such amounts (i) payable pursuant to the
        applicable provisions of the Servicing Agreement in respect of the proper
        operation, management and maintenance of such REO Property or (ii) payable
        or
        reimbursable to the Servicer pursuant to the applicable provisions of the
        Servicing Agreement for unpaid Servicing Fees in respect of the related Mortgage
        Loan and unreimbursed Servicing Advances and Advances in respect of such
        REO
        Property or the related Mortgage Loan, over (b) the REO Imputed Interest in
        respect of such REO Property for such calendar month.

      41

      “REO
        Property”:
        A
        Mortgaged Property acquired by the Servicer on behalf of the Trust Fund through
        foreclosure or deed-in-lieu of foreclosure in accordance with the applicable
        provisions of the Servicing Agreement.

       

      “Representation
        Letter”:
        The
        letter from Countrywide to GCFP dated as of the Closing Date, pursuant to
        which
        Countrywide, under the terms of the Purchase Agreement, makes additional
        representations and warranties as agreed upon by GCFP and
        Countrywide.

       

      “Reportable
        Event”:
        As
        defined in Section 3.19(c).

       

      “Request
        for Release”:
        A
        release signed by a Servicing Officer, in the form of Exhibit F attached
        hereto.

       

      “Required
        Reserve Fund Deposit”:
        With
        respect to the Class C Certificates and any Distribution Date, an amount
        equal
        to the lesser of (i) the Net Monthly Excess Cashflow otherwise distributable
        to
        the Class C Certificates for such Distribution Date and (ii) the amount required
        to bring the balance on deposit in the Basis Risk Reserve Fund to an amount
        equal to the greater of (a) the unpaid Basis Risk Shortfalls for such
        Distribution Date with respect to the LIBOR certificates (after giving effect
        to
        distributions of amounts received pursuant to the Yield Maintenance Agreement
        and the Class 2A-1C2 Yield Maintenance Agreement) and (b) $1,000.

       

      “Residential
        Dwelling”:
        Any
        one of the following: (i) a detached one-family dwelling, (ii) a
        detached two- to four-family dwelling, (iii) a one-family dwelling unit in
        a condominium project, (iv) a manufactured home, (v) a cooperative unit or
        (vi)
        a detached one-family dwelling in a planned unit development, none of which
        is a
        mobile home.

       

      “Residual
        Certificate”:
        The
        Class R Certificates.

       

      “Responsible
        Officer”:
        When
        used with respect to the Trustee, any director, any vice president, any
        assistant vice president, any associate assigned to the Corporate Trust Office
        (or similar group) or any other officer of the Trustee customarily performing
        functions similar to those performed by any of the above designated officers
        and, with respect to a particular matter, to whom such matter is referred
        because of such officer’s knowledge of and familiarity with the particular
        subject.

       

      “Restricted
        Global Security”:
        As
        defined in Section 6.01.

       

      “S&P”:
        Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies,
        Inc. or any successor thereto.

      42

      “Sarbanes
        Oxley Act”:
        The
        Sarbanes-Oxley Act of 2002 and the rules and regulations of the Commission
        promulgated thereunder (including any interpretations thereof by the
        Commission’s staff).

       

      “Sarbanes-Oxley
        Certification”:
        A
        written certification signed by an officer of the Depositor that complies
        with
        (i) the Sarbanes-Oxley Act of 2002, as amended from time to time, and (ii)
        Exchange Act Rules 13a-14(d) and 15d-14(d), as in effect from time to time;
        provided that if, after the Closing Date (a) the Sarbanes-Oxley Act of 2002
        is
        amended, (b) the Rules referred to in clause (ii) are modified or superseded
        by
        any subsequent statement, rule or regulation of the Commission or any statement
        of a division thereof, or (c) any future releases, rules and regulations
        are
        published by the Securities and Exchange Commission from time to time pursuant
        to the Sarbanes-Oxley Act of 2002, which in any such case affects the form
        or
        substance of the required certification and results in the required
        certification being, in the reasonable judgment of the Depositor, materially
        more onerous than the form of the required certification as of the Closing
        Date,
        the Sarbanes-Oxley Certification shall be as agreed to by the Depositor and
        the
        Seller following a negotiation in good faith to determine how to comply with
        any
        such new requirements.

       

      “Securities
        Act”:
        The
        Securities Act of 1933, as amended, and the rules and regulations
        thereunder.

       

      “Security
        Agreement”:
        With
        respect to any Cooperative Loan, the agreement between the owner of the related
        Cooperative Shares and the originator of the related Mortgage Note that defines
        the terms of the security interest in such Cooperative Shares and the related
        Proprietary Lease.

       

      “Seller”:
        GCFP,
        in its capacity as seller under this Agreement.

       

      “Senior
        Certificate”:
        Any
        one of the Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1
        and Class 2A-1C2 Certificates.

       

      “Senior
        Certificate Group”:
        Either
        (a) the Class 1A-1A Certificates with respect to Loan Group 1 or (b) the
        Class
        2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates
        with respect to Loan Group 2.

       

      “Senior
        Certificateholder”:
        Any
        Holder of a Senior Certificate.

       

      “Senior
        Credit Support Depletion Date”:
        The
        date on which the Class Principal Balance of each Class of Subordinate
        Certificates has been reduced to zero.

       

      “Senior
        Principal Distribution Amount”:
        For
        any Distribution Date, an amount equal to the excess of (x) the aggregate
        class
        principal balance of the Senior Certificates immediately prior to such
        Distribution Date over (y) the lesser of (A) the product of (i) for each
        Distribution Date prior to October 2012, 76.50% and thereafter 81.20% and
        (ii)
        the Stated Principal Balances of the Mortgage Loans as of the last day of
        the
        related Prepayment Period (after giving effect to scheduled payments of
        principal due during the related Due Period, to the extent received or advanced,
        and unscheduled collections of principal received during the related Prepayment
        Period) and (B) the Stated Principal Balances of the Mortgage Loans as of
        the
        last day of the related Prepayment Period (after giving effect to scheduled
        payments of principal due during the related Due Period, to the extent received
        or advanced, and unscheduled collections of principal received during the
        related Prepayment Period) minus
        $14,407,472.79.

      43

      “Senior
        Termination Date”:
        For
        each Senior Certificate Group, the Distribution Date on which the aggregate
        of
        the Class Principal Balances of the related Senior Certificates is reduced
        to
        zero.

       

      “Servicer”:
        Countrywide Home Loans Servicing LP, as primary servicer of the Mortgage
        Loans
        as set forth and as individually defined in the Mortgage Loan Schedule hereto,
        and any successors thereto.

       

      “Servicer
        Remittance Date”:
        With
        respect to each Mortgage Loan, the 18th
        day of
        each month, or if such 18th
        day is
        not a Business Day, the preceding Business Day.

       

      “Servicing
        Account”:
        Any
        account established and maintained for the benefit of the Trust Fund by the
        Servicer or with respect to the related Mortgage Loans and any REO Property,
        pursuant to the terms of the Servicing Agreement.

       

      “Servicing
        Addendum”:
        As
        defined in the Servicing Agreement.

       

      “Servicing
        Advances”:
        With
        respect to the Servicer (including the Trustee in its capacity as successor
        Servicer), all customary, reasonable and necessary “out of pocket” costs and
        expenses (including reasonable attorneys’ fees and expenses) incurred by the
        Servicer (including the Trustee in its capacity successor Servicer) in the
        performance of its servicing obligations under the Servicing Agreement,
        including, but not limited to, the cost of (i) the preservation, restoration,
        inspection and protection of the Mortgaged Property, (ii) any enforcement
        or
        judicial proceedings, including foreclosures, (iii) the management and
        liquidation of the REO Property and (iv) compliance with the obligations
        under
        Article III hereof or the Servicing Agreement.

       

      “Servicing
        Agreement”:
        The
        Master Mortgage Loan Purchase and Servicing Agreement dated as of April 1,
        2003,
        as amended by that certain Amendment Number One dated November 1, 2004, and
        as
        further amended by that certain Amendment Reg AB dated December 1, 2005,
        between
        GCFP, as purchaser, and Countrywide, as seller, as reconstituted by the
        Reconstitution Agreement, as the same may be amended from time to time, and
        any
        assignments and conveyances related to the Mortgage Loans.

       

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

       

      “Servicing
        Fee”:
        With
        respect to the Servicer and each Mortgage Loan and for any calendar month,
        the
        fee payable to the Servicer determined pursuant to the Servicing
        Agreement.

       

      “Servicing
        Fee Rate”:
        With
        respect to each Mortgage Loan, the per annum rate of 0.3750%.

      44

      “Servicing
        Function Participant”:
        Any
        Subservicer, Subcontractor of the Servicer, the Custodian and the Trustee,
        respectively.

       

      “Servicing
        Officer”: Any
        officer of the Servicer or any Subservicer involved in, or responsible for,
        the
        administration and servicing of Mortgage Loans, whose name and specimen
        signature appear on a list of servicing officers furnished to the Trustee,
        the
        Custodian and the Depositor on the Closing Date, as such list may from time
        to
        time be amended.

       

      “Sponsor”:
        Greenwich Capital Financial Products, Inc., in its capacity as sponsor under
        this Agreement.

       

      “Startup
        Day”:
        As
        defined in Section 9.01(b) hereof.

       

      “Stated
        Principal Balance”:
        With
        respect to any Mortgage Loan: (a) as of the Distribution Date in October
        2006,
        the Cut-off Date Principal Balance of such Mortgage Loan,  (b) thereafter
        as of any date of determination up to and including the Distribution Date
        on
        which the proceeds, if any, of a Liquidation Event with respect to such Mortgage
        Loan would be distributed, the Cut-off Date Principal Balance of such Mortgage
        Loan minus,
        in the
        case of each Mortgage Loan, the sum of (i) the principal portion of each
        Monthly Payment due on a Due Date subsequent to the Cut-off Date, whether
        or not
        received, (ii) all Principal Prepayments received after the Cut-off Date,
        to the extent distributed pursuant to Section 5.01 before such date of
        determination and (iii) all Liquidation Proceeds and Insurance Proceeds
        applied by the Servicer as recoveries of principal in accordance with the
        applicable provisions of the Servicing Agreement, to the extent distributed
        pursuant to Section 5.01 before such date of determination; and (c) as of
        any date of determination subsequent to the Distribution Date on which the
        proceeds, if any, of a Liquidation Event with respect to such Mortgage Loan
        would be distributed, zero; provided
        that
        such
        Stated Principal Balance shall be increased by the amount of any Deferred
        Interest added to the outstanding Principal Balance of such Mortgage Loan
        pursuant to the terms of the related Mortgage Note. With respect to any REO
        Property: (x) as of any date of determination up to and including the
        Distribution Date on which the proceeds, if any, of a Liquidation Event with
        respect to such REO Property would be distributed, an amount (not less than
        zero) equal to the Stated Principal Balance of the related Mortgage Loan
        as of
        the date on which such REO Property was acquired on behalf of the Trust Fund,
        minus the aggregate amount of REO Principal Amortization in respect of such
        REO
        Property for all previously ended calendar months, to the extent distributed
        pursuant to Section 5.01 before such date of determination; and (y) as
        of any date of determination subsequent to the Distribution Date on which
        the
        proceeds, if any, of a Liquidation Event with respect to such REO Property
        would
        be distributed, zero.

       

      “Stepdown
        Date”:
        The
        earlier to occur of (i) the first Distribution Date on which the aggregate
        Certificate Principal Balance of the Class 1A-1A, Class 2A-1A, Class 2A-1B1,
        Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates has been reduced
        to
        zero and (ii) the later to occur of (x) the Distribution Date occurring in
        October 2009 and (y) the first Distribution Date on which the Credit Enhancement
        Percentage (calculated for this purpose only after taking into account
        distributions of principal on the Mortgage Loans and before distribution
        of the
        Principal Distribution Amount to the holders of the Certificates then entitled
        to distributions of principal on such Distribution Date) is greater than
        or
        equal to (a) prior to the Distribution Date in October 2012, 23.50% and (b)
        on
        or after the Distribution Date in October 2012, 18.80%.

      45

      “Strike
        Rate”:
        With
        respect to any Distribution Date and the Yield Maintenance Agreement, the
        strike
        rate for such date set forth on Exhibit I of the Yield Maintenance
        Agreement.

       

      “Subcontractor”:
        Any
        vendor, subcontractor or other Person that is not responsible for the overall
        servicing 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 of the Servicer),
        the Trustee or the Custodian.

       

      “Subordinate
        Adjusted Cap Rate”:
        For
        any Distribution Date and the Subordinate Certificates, the Net WAC cap for
        such
        Distribution Date, computed for this purposes by (a) first reducing the Net
        WAC
        for Loan Group 1 by a per annum rate equal to the product of (i) the Net
        Deferred Interest for Loan Group 1 for that Distribution Date multiplied
        by (ii)
        12, divided by the Pool Balance for Loan Group 1 for such Distribution Date,
        and
        (b) by first reducing the Net WAC for Loan Group 2 by a per annum rate equal
        to
        the product of (i) the Net Deferred Interest for Loan Group 2 for that
        Distribution Date multiplied by (ii) 12, divided by the Pool Balance for
        Loan
        Group 2 for such Distribution Date.

       

      “Subordinate
        Certificate”:
        Any of
        the Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 or Class
        B-7 Certificates.

       

      “Subordinate
        Class Expense Share”:
        For
        each Class of Subordinate Certificates and each Accrual Period, the Subordinate
        Class Expense Share shall be allocated in reverse order of their respective
        numerical Class designations (beginning with the Class of Subordinate
        Certificates with the highest numerical Class designation) and will be an
        amount
        equal to (i) the sum of, without duplication, (a) the amounts paid to the
        Trustee from the Trust Fund during such Accrual Period pursuant to Section
        8.05
        hereof to the extent such amounts were paid for ordinary or routine expenses
        and
        were not taken into account in computing the Net Loan Rate of any Mortgage
        Loan
        and (b) amounts described in clause (y) of the definition of Available Funds
        herein to the extent such amounts were paid for ordinary or routine expenses
        and
        were not taken into account in computing the Net Loan Rate of any Mortgage
        Loan
minus
        (ii)
        amounts taken into account under clause (i) of this definition in determining
        the Subordinate Class Expense Share of any Class of Subordinate Certificates
        having a higher numeric designation. In no event, however, shall the Subordinate
        Class Expense Share for any Class of Subordinate Certificates and any Accrual
        Period exceed the product of (i) (a) the lesser of the Pass-Through Rate
        for
        such Class or the Subordinate Adjusted Cap Rate, divided
        by
        (b) 12
        and (ii) the Class Principal Amount of such Class of Subordinate Certificates
        as
        of the beginning of the related Accrual Period.

       

      “Subordinate
        Component”:
        With
        respect to each Loan Group and any Distribution Date, the excess of the sum
        of
        the related Pool Balance for such Distribution Date over the aggregate Class
        Principal Balance of the related Senior Certificate Group immediately preceding
        such Distribution Date. The designation “1” and “2” appearing after the
        corresponding Loan Group designation is used to indicate a Subordinate Component
        allocable to Loan Group 1 and Loan Group 2, respectively.

      46

      “Subservicer”:
        Any
        Person that services Mortgage Loans on behalf of the Servicer, the Trustee
        or
        the Custodian, and is responsible for the performance (whether directly or
        through subservicers or Subcontractors) of servicing functions required to
        be
        performed under this Agreement, any related Servicing Agreement or any
        subservicing agreement that are identified in Item 1122(d) of Regulation
        AB.

       

      “Substitution
        Adjustment”:
        As
        defined in Section 2.03(d) hereof.

       

      “Tax
        Returns”:
        The
        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 the REMIC Taxable
        Income or Net Loss Allocation, or any successor forms, to be filed on behalf
        of
        each of the REMICs created hereunder under the REMIC Provisions, together
        with
        any and all other information reports or returns that may be required to
        be
        furnished to the Certificateholders or filed with the Internal Revenue Service
        or any other governmental taxing authority under any applicable provisions
        of
        federal, state or local tax laws.

       

      “Telerate
        Page 3750”:
        The
        display currently so designated as “Page 3750” on the Bridge Telerate Service
        (or such other page selected by the Trustee as may replace Page 3750 on that
        service for the purpose of displaying daily comparable rates on
        prices).

       

      “Termination
        Price”:
        As
        defined in Section 10.01(a) hereof. 

       

      “Transfer”:
        Any
        direct or indirect transfer or sale of any Ownership Interest in a Residual
        Certificate.

       

      “Transfer
        Affidavit”:
        As
        defined in Section 6.02(e)(ii) hereof.

       

      “Transferee”:
        Any
        Person who is acquiring by Transfer any Ownership Interest in a
        Certificate.

       

      “Trigger
        Event”:
        With
        respect to any Distribution Date on or after the Stepdown Date, occurs
        when:

       

      (a) the
        sum
        of the percentages obtained by dividing (x) the aggregate Stated Principal
        Balance of Mortgage Loans delinquent 60 days or more, that are in foreclosure
        or
        that are REO Properties by (y) the aggregate Stated Principal Balance of
        the
        Mortgage Loans, in each case, as of the last day of the previous three calendar
        months divided
        by
        3,
        exceeds (i) prior to the Distribution Date in October 2012, 29.80% of the
        current Credit Enhancement Percentage or (ii) on or after the Distribution
        Date
        in October 2012, 37.25% of the current Credit Enhancement Percentage;
        or

      47

      (b) the
        aggregate amount of Realized Losses incurred since the Cut-off Date through
        the
        last day of the related Due Period (reduced by the aggregate amount of
        Recoveries received since the Cut-off Date through the last day of the related
        Due Period) divided
        by
        the
        aggregate Stated Principal Balance of the Mortgage Loans as of the Cut-off
        Date
        exceeds the applicable percentages set forth below with respect to such
        Distribution Date:

      

      

    	
          Distribution
            Date Occurring In

        	 	
          Percentage

        
	
          

        	 	
          

        
	
          October
            2008 - September 2009

        	 	
          0.15%
            for the first month plus an additional 1/12th
            of 0.25% for each month thereafter

        
	
          October
            2009 - September 2010

        	 	
          0.40%
            for the first month plus an additional 1/12th
            of 0.30% for each month thereafter

        
	
          October
            2010 - September 2011

        	 	
          0.70%
            for the first month plus an additional 1/12th
            of 0.30% for each month thereafter

        
	
          October
            2011 - September 2012 

        	 	
          1.00%
            for the first month plus an additional 1/12th
            of 0.35% for each month thereafter

        
	
          October
            2012 - September 2013 

        	 	
          1.35%
            for the first month plus an additional 1/12th
            of 0.15% for each month thereafter

        
	
          October
            2013 and thereafter

        	 	
          1.50%
            

        

      

      

      “Trust
        Fund”:
        The
        segregated pool of assets subject hereto, constituting the primary trust
        created
        hereby and to be administered hereunder, with respect to which a REMIC election
        is to be made, such Trust Fund consisting of: (i) such Mortgage Loans as
        from
        time to time are subject to this Agreement, together with the Mortgage Files
        relating thereto, and together with all collections thereon and proceeds
        thereof, (ii) any REO Property, together with all collections thereon and
        proceeds thereof, (iii) the Trustee’s rights with respect to the Mortgage Loans
        under all insurance policies required to be maintained pursuant to this
        Agreement and any proceeds thereof, (iv) the Depositor’s rights under the
        Mortgage Loan Purchase Agreement (including any security interest created
        thereby); (v) the Distribution Account (subject to the last sentence of this
        definition), any REO Account and such assets that are deposited therein from
        time to time and any investments thereof, together with any and all income,
        proceeds and payments with respect thereto, (vi) all right, title and
        interest of the Seller in and to the Servicing Agreement, (vii) the Basis
        Risk Reserve Fund, the Final Maturity Reserve Fund, the Class 2A-1C2 Yield
        Maintenance Agreement, the Yield Maintenance Account and the Class 2A-1C2
        Yield
        Maintenance Account, (viii) the distributions made by the Administrator to
        the
        Trustee pursuant to the Yield Maintenance Allocation Agreement, (ix) the
        Certificate Insurance Policy and (x) all proceeds of the foregoing.
        Notwithstanding the foregoing, however, the Trust Fund specifically excludes
        (1)
        all payments and other collections of interest and principal due on the Mortgage
        Loans on or before the Cut-off Date and principal received before the Cut-off
        Date (except any principal collected as part of a payment due after the Cut-off
        Date) and (2) all income and gain realized from Permitted Investments of
        funds
        on deposit in the Distribution Account.

       

  “Trustee”:
    Deutsche Bank National Trust Company, not in its individual capacity but solely
    as trustee, a national banking association, its successors and assigns, or
    any successor trustee appointed as herein provided.

       

  “Trustee
    Certification”:
    A certification of the Trustee substantially in the form of Exhibit P.

  48

  “Trustee
    Fee”:
    The trustee shall receive as compensation for its services the aggregate of
    (1) one Business Day’s investment earnings on amounts on deposit in
    the Distribution Account and (2) for each Mortgage Loan, a monthly fee paid
    out of interest collections received from such Mortgage Loan calculated as
    the product of (a) the outstanding principal balance of such Mortgage Loan
    as of the first day of the related Due Period and (b) the Trustee Fee Rate.
    

       

      “Trustee
        Fee Rate”:
        0.0006% per annum.

       

      “Undercollateralized
        Group”:
        With
        respect to any Distribution Date and any Loan Group as to which the aggregate
        Class Principal Balance of the related Classes of Senior Certificates, after
        giving effect to distributions pursuant to Section 5.01(a) on such date,
        is
        greater than the Loan Group Balance of the related Loan Group for such
        Distribution Date, such Classes of Senior Certificates shall constitute an
        Undercollateralized Group.

       

      “Underwriter’s
        Exemption”:
        Prohibited Transaction Exemption 90-59 (Exemption Application No. D-8374),
        as
        amended by PTE 97-34 (Exemption Application No. D-10245 and D-10246) and
        by PTE
        2000-58 (Exemption Application No. D-10829) and PTE 2002-41 (Exemption
        Application No. D-11077), as amended (or any successor thereto), or any
        substantially similar administrative exemption granted by the U.S. Department
        of
        Labor. 

       

      “Uninsured
        Cause”:
        Any
        cause of damage to a Mortgaged Property such that the complete restoration
        of
        such property is not fully reimbursable by the hazard insurance policies
        required to be maintained on such Mortgaged Property.

       

      “United
        States Person”
or
        “U.S.
        Person”:
        A
        citizen or resident of the United States, a corporation, partnership or other
        entity treated as a corporation or partnership for federal income tax purposes
        (other than a partnership that is not treated as a U.S. Person pursuant to
        any
        applicable Treasury regulations) created or organized in, or under the laws
        of,
        the United States, any state thereof or the District of Columbia, or an estate
        the income of which from sources without the United States is includible
        in
        gross income for United States federal income tax purposes regardless of
        its
        connection with the conduct of a trade or business within the United States,
        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 United States
        persons have authority to control all substantial decisions of the trust.
        The
        term “United States” shall have the meaning set forth in Section 7701 of
        the Code or successor provisions.

       

      “Unpaid
        Basis Risk Shortfall”:
        For
        each Class of Offered Certificates and any Distribution Date, the aggregate
        of
        all Basis Risk Shortfalls for such Class remaining unpaid from all previous
        Distribution Dates, together with interest thereon at the applicable
        Pass-Through Rate, computed without regard to the applicable Net WAC Cap,
        but
        limited to a rate no greater than the Net Maximum Rate Cap.

       

      “Unpaid
        Interest Shortfall Amount”:
        For
        each class of Offered Certificates (other than the Class C and Class P
        Certificates) and any Distribution Date, the amount, if any, by which (a)
        the
        sum of (1) the Monthly Interest Distributable Amount for such Class for the
        immediately preceding Distribution Date and (2) the outstanding Unpaid Interest
        Shortfall Amount, if any, for such Class for such preceding Distribution
        Date
        exceeds (b) the aggregate amount distributed on such Class in respect of
        interest pursuant to clause (a) of this definition on such preceding
        Distribution Date, plus
        interest
        on the amount of interest due but not paid on the Certificates of such Class
        on
        such preceding Distribution Date, to the extent permitted by law, at the
        applicable Pass-Through Rate for such Class for the related Accrual
        Period.

      49

      “Upper-Tier
        REMIC”:
        As
        described in the Preliminary Statement.

       

      “Value”:
        With
        respect to any Mortgage Loan and the related Mortgaged Property, the lesser
        of:

       

      (i) the
        value
        of such Mortgaged Property 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 minimum requirements of Fannie Mae and Freddie Mac;
        and

       

      (ii) the
        purchase price paid for the related Mortgaged Property by the Mortgagor with
        the
        proceeds of the Mortgage Loan; 

       

      provided,
        however,
        that in
        the case of a Refinancing Mortgage Loan, such value of the Mortgaged Property
        is
        based solely upon the value determined by an appraisal made for the originator
        of such Refinancing Mortgage Loan at the time of origination by an appraiser
        who
        met the minimum requirements of Fannie Mae and Freddie Mac.

      

      “Voting
        Rights”:
        The
        portion of the voting rights of all of the Certificates which is allocated
        to
        any Certificate. 99% of the voting rights shall be allocated among the Classes
        of Regular Certificates, pro
        rata,
        based
        on a fraction, expressed as a percentage, the numerator of which is the Class
        Principal Balance of such Class and the denominator of which is the aggregate
        of
        the Class Principal Balances then outstanding and 1% of the voting rights
        shall
        be allocated to the Class R Certificate; provided,
        however,
        that
        when none of the Regular Certificates is outstanding, 100% of the voting
        rights
        shall be allocated to the Holder of the Class R Certificate. The voting rights
        allocated to a Class of Certificates shall be allocated among all Holders
        of
        such Class, pro
        rata,
        based
        on a fraction the numerator of which is the Certificate Principal Balance
        of
        each Certificate of such Class and the denominator of which is the Class
        Principal Balance of such Class; provided,
        further,
        however,
        that
        any Certificate registered in the name of the Trustee or any of its affiliates
        shall not be included in the calculation of Voting Rights; and provided,
        further,
        however,
        that
        all Voting Rights in respect of the Insured Certificates shall be allocated
        to
        the Certificate Insurer. The Class C and Class P Certificates shall have
        no
        voting rights.

       

      “Writedown
        Amount”:
        The
        reduction described in Section 5.03(c).

       

      “Yield
        Maintenance Account”:
        The
        account established and maintained by the Trustee pursuant to Section 5.12,
        which shall be entitled “Yield Maintenance Account, Deutsche Bank National Trust
        Company, in trust for the registered Holders of HarborView Mortgage Loan
        Trust
        Mortgage Loan Pass-Through Certificates, Series 2006-9” and which must be an
        Eligible Account.

       

      “Yield
        Maintenance Agreement”:
        The
        interest rate cap agreement for the benefit of the LIBOR Certificates by
        and
        between the Yield Maintenance Provider and the Administrator, on behalf of
        the
        Yield Maintenance Trust, including the ISDA Master Agreement between the
        Yield
        Maintenance Provider and the Administrator, the schedule thereto and the
        related
        confirmation (Ref. No. 38408), dated as of October 2, 2006 attached as Exhibit
        W
        hereto. The Yield Maintenance Agreement shall be an asset of the Yield
        Maintenance Trust and not of the Trust Fund or any REMIC.

      50

      “Yield
        Maintenance Allocation Agreement”:
        The
        allocation agreement dated October 4, 2006, among the Administrator, the
        Trustee
        and the Sponsor, a copy of which is attached hereto as Exhibit V.

       

      “Yield
        Maintenance Distributable Amount”:
        With
        respect to each Distribution Date and the Offered Certificates, an amount
        equal
        to the product of (i) the excess, if any, of (x) LIBOR, subject to the
        applicable strike rate cap set forth on Schedule I to the Yield Maintenance
        Agreement over (y) the applicable Strike Rate, (ii) the related Yield
        Maintenance Notional Balance and (iii) a fraction, the numerator of which
        is the
        actual number days in the related interest Accrual Period and the denominator
        of
        which is 360.

       

“Yield
  Maintenance Notional Balance”:
  For any Distribution Date, the lesser of (i) the amount set forth on Schedule
  I to the Yield Maintenance Agreement for the applicable Class or Classes of
  Certificates and (ii) the aggregate Class Principal Balance of the related Offered
  Certificates.

       

      “Yield
        Maintenance Payment Amount”:
        With
        respect to each Distribution Date, an amount equal to the sum of (i) the
        amount
        necessary to maintain or restore the Overcollateralization Target Amount,
        (ii)
        any Allocated Realized Loss Amounts remaining unpaid, (iii) any Monthly Interest
        Distributable Amount and Unpaid Interest Shortfall Amount not paid out of
        Available Funds and (iv) any Basis Risk Shortfalls for such date.

       

      “Yield
        Maintenance Provider”:
        The
        Bank of New York, its successors and assigns or any successor Yield Maintenance
        Provider.

       

      “Yield
        Maintenance Trust”:
        The
        corpus of a trust created pursuant to the Yield Maintenance Allocation Agreement
        and designated as the “Yield Maintenance Trust” consisting of the Yield
        Maintenance Trust Account and the Yield Maintenance Agreement, but which
        is not
        an asset of the Trust Fund or any REMIC.

       

      “Yield
        Maintenance Trust Account”:
        The
        account, relating to the Yield Maintenance Agreement, established by the
        Trustee
        pursuant to Section 5.11 and maintained by the Administrator pursuant to
        the
        Yield Maintenance Allocation Agreement and which must be an Eligible Account.
        The Yield Maintenance Trust Account is an asset of the Yield Maintenance
        Trust
        and not of the Trust Fund or any REMIC.

       

      SECTION
        1.02. Accounting.

       

      Unless
        otherwise specified herein, for the purpose of any definition or calculation,
        whenever amounts are required to be netted, subtracted or added or any
        distributions are taken into account such definition or calculation and any
        related definitions or calculations shall be determined without duplication
        of
        such functions.

      51

      ARTICLE
        II

       

      CONVEYANCE
        OF MORTGAGE LOANS;

      ORIGINAL
        ISSUANCE OF CERTIFICATES

       

      SECTION
        2.01. Conveyance
        of Mortgage Loans.

       

      (a) The
        Depositor, concurrently with the execution and delivery hereof, does hereby
        transfer, assign, set over and otherwise convey to the Trustee without recourse
        for the benefit of the Certificateholders and the Certificate Insurer all
        the
        right, title and interest of the Depositor, including any security interest
        therein for the benefit of the Depositor, in and to (i) each Mortgage Loan
        identified on the Mortgage Loan Schedule, including the related Cut-off Date
        Principal Balance, all interest due thereon after the Cut-off Date and all
        collections in respect of interest and principal due after the Cut-off Date;
        (ii) all the Depositor’s right, title and interest in and to the Distribution
        Account and all amounts from time to time credited to and to the proceeds
        of the
        Distribution Account; (iii) any real property that secured each such Mortgage
        Loan and that has been acquired by foreclosure or deed in lieu of foreclosure;
        (iv) the Depositor’s interest in any insurance policies in respect of the
        Mortgage Loans; (v) all proceeds of any of the foregoing and (vi) all other
        assets included or to be included in the Trust Fund. Such assignment includes
        all interest and principal due to the Depositor after the Cut-off Date with
        respect to the Mortgage Loans. In exchange for such transfer and assignment,
        the
        Depositor shall receive the Certificates.

       

      It
        is
        acknowledged and agreed that the Trustee hereunder shall also serve as the
        Administrator under the Yield Maintenance Allocation Agreement, the Yield
        Maintenance Agreement and the Class 2A-1C2 Yield Maintenance Agreement. The
        Depositor hereby directs the Administrator to execute, deliver and perform
        its
        obligations under the Yield Maintenance Allocation Agreement, the Yield
        Maintenance Agreement and the Class 2A-1C2 Yield Maintenance Agreement, not
        in
        its individual capacity, but solely as Administrator on behalf of the Yield
        Maintenance Trust. Every provision of this Agreement relating to the conduct
        or
        affecting the liability of or affording protection or indemnification to
        the
        Trustee shall apply to the Administrator’s execution and performance of its
        duties and obligations under the Yield Maintenance Allocation Agreement,
        the
        Yield Maintenance Agreement and the Class 2A-1C2 Yield Maintenance Agreement.
        

       

      The
        Depositor hereby directs the Trustee to execute, not in its individual capacity,
        but solely as Trustee on behalf of the Trust Fund, the Yield Maintenance
        Allocation Agreement and perform its duties and obligations
        thereunder.

       

      It
        is
        agreed and understood by the Depositor, the Seller and the Trustee that it
        is
        not intended that any Mortgage Loan be included in the Trust Fund that is
        a
“High-Cost Home Loan” as defined in the New Jersey Home Ownership Act, effective
        as of November 27, 2003, or The Home Loan Protection Act of New Mexico,
        effective as of January 1, 2004, or that is a “High Cost Home Mortgage Loan” as
        defined in the Massachusetts Predatory Home Loan Practices Act, effective
        as of
        November 7, 2004, or that is an “Indiana High Cost Home Mortgage Loan” as
        defined in the Indiana High Cost Home Loan Act, effective as of January 1,
        2005.

      52

      Concurrently
        with the execution and delivery of this Agreement, the Depositor does
          hereby assign to the Trustee all of its rights and interest under the
          Mortgage Loan
        Purchase Agreement, including all rights of the Seller under the Servicing
        Agreement (other than the right to terminate the Servicer for an Event
          of Default under Section 14.01 (ix) of the Servicing Agreement) to
          the extent assigned in the Mortgage Loan Purchase Agreement. The Depositor
          hereby expressly retains and does not delegate the right to terminate the Servicer
		  for an Event of Default pursuant to Section 14.01 (ix) of the Servicing Agreement. The
          Trustee hereby accepts such assignment, and shall be entitled to exercise
        all
        rights of the Depositor under the Mortgage Loan Purchase Agreement and
          all rights of the Seller under the Servicing Agreement as if, for such
          purpose,
        it
        were the Depositor or the Seller, as applicable, including the Seller’s
        right to  enforce remedies for breaches of representations and warranties
        and delivery
        of
        the Mortgage Loan documents. The foregoing sale, transfer, assignment,
        set-over, deposit and conveyance does not and is not intended to result
        in creation
        or
        assumption by the Trustee of any obligation of the Depositor, the Seller
        or any
        other Person in connection with the Mortgage Loans or any other agreement
        or
        instrument relating thereto except as specifically set forth
        herein.

       

      In
        connection with such transfer and assignment, (i) the Depositor directs the
        Trustee to appoint The Bank of New York as Custodian, and (ii) the Seller,
        on
        behalf of the Depositor, does hereby deliver on the Closing Date, unless
        otherwise specified in this Section 2.01 or the Custodial Agreement, to,
        and
        deposit with the Trustee, or the Custodian as its designated agent, the
        following documents or instruments with respect to each Mortgage Loan (a
        “Mortgage
        File”)
        so
        transferred and assigned:

       

      (i) the
        original Mortgage Note, endorsed either on its face or by allonge attached
        thereto in blank or in the following form: “Pay to the order of Deutsche Bank
        National Trust Company, as Trustee for HarborView Mortgage Loan Trust Mortgage
        Loan Pass-Through Certificates, Series 2006-9, without recourse”, or with
        respect to any lost Mortgage Note, an original Lost Note Affidavit stating
        that
        the original Mortgage Note was lost, misplaced or destroyed, together with
        a
        copy of the related Mortgage Note;

       

      (ii) except
        as
        provided below, for each Mortgage Loan that is not a MERS Mortgage Loan,
        the
        original Mortgage, and in the case of each MERS Mortgage Loan, the original
        Mortgage, noting the presence of the MIN for that Mortgage Loan and either
        language indicating that the Mortgage Loan is a MOM Loan if the Mortgage
        Loan is
        a MOM Loan, or if such Mortgage Loan was not a MOM Loan at origination, the
        original Mortgage and the assignment to MERS, in each case 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
        or, if such Mortgage or power of attorney has been submitted for recording
        but
        has not been returned from the applicable public recording office, has been
        lost
        or is not otherwise available, a certified copy of such Mortgage or power
        of
        attorney, as the case may be, together with an Officer’s Certificate of the
        Seller certifying that the copy of such Mortgage delivered to the Trustee
        (or
        its Custodian) is a true copy and that the original of such Mortgage has
        been
        forwarded to the public recording office, or, in the case of a Mortgage that
        has
        been lost, a copy thereof (certified as provided for under the laws of the
        appropriate jurisdiction) and a written Opinion of Counsel (delivered at
        the
        Seller’s expense) acceptable to the Trustee and the Depositor that an original
        recorded Mortgage is not required to enforce the Trustee’s interest in the
        Mortgage Loan;

      53

      (iii) the
        original or copy of each assumption, modification or substitution agreement,
        if
        any, relating to the Mortgage Loans, or, as to any assumption, modification
        or
        substitution agreement which cannot be delivered on or prior to the Closing
        Date
        because of a delay caused by the public recording office where such assumption,
        modification or substitution agreement has been delivered for recordation,
        a
        photocopy of such assumption, modification or substitution agreement, pending
        delivery of the original thereof, together with an Officer’s Certificate of the
        Seller certifying that the copy of such assumption, modification or substitution
        agreement delivered to the Trustee (or its custodian) on behalf of the Trust
        Fund is a true copy and that the original of such agreement has been forwarded
        to the public recording office;

       

      (iv) in
        the
        case of each Mortgage Loan that is not a MERS Mortgage Loan, an original
        Assignment, in form and substance acceptable for recording. The Mortgage
        shall
        be assigned to “Deutsche Bank National Trust Company, as Trustee for HarborView
        Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-9,
        without recourse;”

       

      (v) in
        the
        case of each Mortgage Loan that is not a MERS Mortgage Loan, an original
        copy of
        any intervening Assignment showing a complete chain of assignments, or, in
        the
        case of an intervening Assignment that has been lost, a written Opinion of
        Counsel (delivered at the Seller’s expense) acceptable to the Trustee and any
        NIMS Insurer that such original intervening Assignment is not required to
        enforce the Trustee’s interest in the Mortgage Loans;

       

      (vi) the
        original Primary Insurance Policy, if any, or certificate, if any;

       

      (vii) the
        original or a certified copy of lender’s title insurance policy;
        and

       

      (viii) with
        respect to any Cooperative Loan, the Cooperative Loan Documents.

       

      In
        connection with the assignment of any MERS Mortgage Loan, the Seller agrees
        that
        it will take (or shall cause the Servicer to take), at the expense of the
        Seller
        (with the cooperation of the Depositor and the Trustee), such actions as
        are
        necessary to cause the MERS®
        System
        to indicate that such Mortgage Loans have been assigned by the Seller to
        the
        Trustee in accordance with this Agreement for the benefit of the
        Certificateholders by including (or deleting, in the case of Mortgage Loans
        that
        are repurchased in accordance with this Agreement) in such computer files
        the
        information required by the MERS®
        System
        to identify the series of the Certificates issued in connection with the
        transfer of such Mortgage Loans to the HarborView Mortgage Loan Trust 2006-9.
        Notwithstanding anything herein to the contrary, the Trustee is not responsible
        for monitoring any MERS Mortgage Loans.

       

      With
        respect to each Cooperative Loan, the Seller, on behalf of the Depositor,
        does
        hereby deliver to the Trustee (or the Custodian) the related Cooperative
        Loan
        Documents and the Seller shall take (or cause the Servicer to take), at the
        expense of the Seller (with the cooperation of the Depositor and the Trustee)
        such actions as are necessary under applicable law (including but not limited
        to
        the relevant UCC) in order to perfect the interest of the Trustee in the
        related
        Mortgaged Property.

      54

      Assignments
        of each Mortgage with respect to each Mortgage Loan that is not a MERS Mortgage
        Loan (other than a Cooperative Loan) shall be recorded; provided,
        however,
        that
        such assignments need not be recorded if, in the Opinion of Counsel (which
        must
        be from Independent Counsel and not at the expense of the Trust Fund or the
        Trustee) acceptable to the Trustee, each Rating Agency, recording in such
        states
        is not required to protect the Trust Fund’s interest in the related Mortgage
        Loans; provided,
        further,
        notwithstanding the delivery of any Opinion of Counsel, each assignment of
        Mortgage shall be submitted for recording by the Seller (or the Seller will
        cause the Servicer to submit each such assignment for recording), at the
        cost
        and expense of the Seller, in the manner described above, at no expense to
        the
        Trust Fund or Trustee, upon the earliest to occur of (1) reasonable direction
        by
        the Majority Certificateholders, (2) the occurrence of a bankruptcy or
        insolvency relating to the Seller or the Depositor, or (3) with respect to
        any
        one Assignment of Mortgage, the occurrence of a bankruptcy, insolvency or
        foreclosure relating to the Mortgagor under the related Mortgage. Subject
        to the
        preceding sentence, as soon as practicable after the Closing Date (but in
        no
        event more than three months thereafter except to the extent delays are caused
        by the applicable recording office), the Seller shall properly record (or
        the
        Seller will cause the Servicer to properly record), at the expense of the
        Seller
        (with the cooperation of the Depositor and the Trustee, or the Custodian
        on
        behalf of the Trustee), in each public recording office where the related
        Mortgages are recorded, each assignment referred to in Section 2.01(v) above
        with respect to a Mortgage Loan that is not a MERS Mortgage Loan.

       

      The
        Trustee (or the Custodian) agrees to execute and deliver to the Depositor
        (and
        to the Trustee if delivered by the Custodian) on or prior to the Closing
        Date an
        acknowledgment of receipt of the original Mortgage Note (with any exceptions
        noted), substantially in the form attached as Exhibit G-1 hereto.

       

      If
        the
        original lender’s title insurance policy, or a certified copy thereof, was not
        delivered pursuant to Section 2.01(vii) above, the Seller shall deliver or
        cause
        to be delivered to the Trustee the original or a copy of a written commitment
        or
        interim binder or preliminary report of title issued by the title insurance
        or
        escrow company, with the original or a certified copy thereof to be delivered
        to
        the Trustee, promptly upon receipt thereof, but in any case within 175 days
        of
        the Closing Date. The Seller shall deliver or cause to be delivered to the
        Trustee, promptly upon receipt thereof, any other documents constituting
        a part
        of a Mortgage File received with respect to any Mortgage Loan sold to the
        Depositor by the Seller, including, but not limited to, any original documents
        evidencing an assumption or modification of any Mortgage Loan.

       

      For
        Mortgage Loans (if any) that have been prepaid in full after the Cut-off
        Date
        and prior to the Closing Date, in lieu of the Seller delivering the above
        documents, the Servicer shall deliver to the Trustee, or to the Custodian
        on
        behalf of the Trustee, prior to the first Distribution Date, an Officer’s
        Certificate, which shall include a statement to the effect that all amounts
        received in connection with such prepayment that are required to be deposited
        in
        the Distribution Account have been so deposited. All original documents that
        are
        not delivered to the Trustee on behalf of the Trust Fund shall be held by
        the
        Servicer in trust for the Trustee, for the benefit of the Trust Fund, the
        Certificateholders and the Certificate Insurer.

      55

    The
      Depositor herewith delivers to the Trustee an executed copy of the Mortgage
      Loan
      Purchase Agreement.

     

    The
      Depositor shall have the right to receive any and all loan-level information
      regarding the characteristics and performance of the Mortgage Loans upon
      request, and to publish, disseminate or otherwise utilize such information
      in
      its discretion, subject to applicable laws and regulations.

     

    SECTION
      2.02. Acceptance
      by Trustee.

     

    The
      Trustee, by execution and delivery hereof, acknowledges receipt by it or by
      the
      Custodian on its behalf of the Mortgage Files pertaining to the Mortgage Loans
      listed on the Mortgage Loan Schedule, subject to review thereof by the Custodian
      on behalf of the Trustee and declares that it holds or will hold all other
      assets included in the definition of “Trust Fund” in trust for the exclusive use
      and benefit of all present and future Certificateholders and the Certificate
      Insurer.

     

    The
      Trustee (or the Custodian on behalf of the Trustee) shall, for the benefit
      of
      the Certificateholders and the Certificate Insurer, review each Mortgage File
      delivered to it and to certify and deliver to the Depositor, the Seller, any
      NIMS Insurer and each Rating Agency an interim certification in substantially
      the form attached hereto as Exhibit G-2, within 90 days after the Closing Date
      (or, with respect to any document delivered after the Startup Day, within 45
      days of receipt and with respect to any Qualified Substitute Mortgage, within
      five Business Days after the assignment thereof) that, as to each Mortgage
      Loan
      listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in
      full
      or any Mortgage Loan specifically identified in the exception report annexed
      thereto as not being covered by such certification), (i) all documents
      required to be delivered to it pursuant to Section 2.01 of this Agreement
      are in its possession, (ii) such documents have been reviewed by it and
      have not been mutilated, damaged or torn and relate to such Mortgage Loan and
      (iii) based on its examination and only as to the foregoing, the
      information set forth in the Mortgage Loan Schedule that corresponds to items
      (i), (ii) and (xv) of the Mortgage Loan Schedule accurately reflects information
      set forth in the Mortgage File. It is herein acknowledged that, in conducting
      such review, the Trustee and the Custodian on its behalf are under no duty
      or
      obligation to inspect, review or examine any such documents, instruments,
      certificates or other papers to determine that they 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.

     

    No
      later
      than 180 days after the Closing Date, the Trustee (or the Custodian on behalf
      of
      the Trustee) shall deliver to the Depositor, any NIMS Insurer and the Seller
      a
      final certification in the form annexed hereto as Exhibit G-3 evidencing the
      completeness of the Mortgage Files, with any applicable exceptions noted
      thereon.

     

    If,
      in
      the process of reviewing the Mortgage Files and making or preparing, as the
      case
      may be, the certifications referred to above, the Trustee finds any document
      or
      documents constituting a part of a Mortgage File to be missing or not conforming
      to the requirements set forth herein, at the conclusion of its review the
      Trustee (or the Custodian as its designated agent) shall promptly notify the
      Seller and the Depositor. In addition, upon the discovery by the Seller or
      the
      Depositor (or upon receipt by the Trustee of written notification of such
      breach) of a breach of any of the representations and warranties made by the
      Seller in the Mortgage Loan Purchase Agreement in respect of any Mortgage Loan
      that materially adversely affects such Mortgage Loan or the interests of the
      related Certificateholders or the Certificate Insurer in such Mortgage Loan,
      the
      party discovering such breach shall give prompt written notice to the other
      parties to this Agreement.

     56

  

  

The
      Depositor and the Trustee intend that the assignment and transfer herein
      contemplated constitute a sale of the Mortgage Loans, the related Mortgage
      Notes
      and the related documents, conveying good title thereto free and clear of any
      liens and encumbrances, from the Depositor to the Trustee and that such property
      not be part of the Depositor’s estate or property of the Depositor in the event
      of any insolvency by the Depositor. In the event that such conveyance is deemed
      to be, or to be made as security for, a loan, the parties intend that the
      Depositor shall be deemed to have granted and does hereby grant to the Trustee
      a
      first priority perfected security interest in all of the Depositor’s right,
      title and interest in and to the Mortgage Loans, the related Mortgage Notes
      and
      the related documents, and that this Agreement shall constitute a security
      agreement under applicable law.

     

    SECTION
      2.03. Repurchase
      or Substitution of Mortgage Loans by the Originator and the
      Seller.

     

    (a) Upon
      its
      discovery or receipt of written notice of any materially defective document
      in,
      or that a document is missing from, a Mortgage File or of the breach by the
      Originator of any representation, warranty or covenant under the Purchase
      Agreement in respect of any Mortgage Loan which materially adversely affects
      the
      value of that Mortgage Loan or the interest therein of the Certificateholders
      or
      the Certificate Insurer, the Trustee shall promptly notify the Originator of
      such defect, missing document or breach and request that the Originator deliver
      such missing document or cure such defect or breach within 90 days from the
      date
      that the Originator was notified of such missing document, defect or breach,
      and
      if the Originator does not deliver such missing document or cure such defect
      or
      breach in all material respects during such period, the Trustee shall enforce
      the Originator’s obligation under the Purchase Agreement and cause the
      Originator to repurchase that Mortgage Loan from the Trust Fund at the
      Repurchase Price (as defined in the Purchase Agreement) on or prior to the
      Determination Date following the expiration of such 90 day period. It is
      understood and agreed that the obligation of the Originator to cure or to
      repurchase or to substitute for (or, with respect to any costs and damages
      incurred by the Trust Fund in connection with any violation of any
      anti-predatory or anti-abusive lending laws, indemnify for) any Mortgage Loan
      as
      to which a document is missing, a material defect in a constituent document
      exists or as to which such a breach has occurred and is continuing shall
      constitute the sole remedy against the Originator respecting such omission,
      defect or breach available to the Trustee or any NIMS Insurer on behalf of
      the
      Certificateholders.

     

    (b) Upon
      discovery or receipt of written notice that a document does not comply with
      the
      requirements of Section 2.01 hereof, or that a document is missing from, a
      Mortgage File or of the breach by the Seller of any representation, warranty
      or
      covenant under the Mortgage Loan Purchase Agreement or in Section 2.04 or
      Section 2.08 hereof in respect of any Mortgage Loan which materially adversely
      affects the value of that Mortgage Loan or the interest therein of the
      Certificateholders or the Certificate Insurer, the Trustee (or the Custodian
      on
      behalf of the Trustee) shall promptly notify the Seller of such noncompliance,
      missing document or breach and request that the Seller deliver such missing
      document or cure such noncompliance or breach within 90 days from the date
      that
      the Seller was notified of such missing document, noncompliance or breach,
      and
      if the Seller does not deliver such missing document or cure such noncompliance
      or breach in all material respects during such period, the Trustee shall enforce
      the Seller’s obligation under the Mortgage Loan Purchase Agreement and cause the
      Seller to repurchase that Mortgage Loan from the Trust Fund at the Purchase
      Price on or prior to the Determination Date following the expiration of such
      90
      day period (subject to Section 2.03(e) below); provided,
      however,
      that, in
      connection with any such breach that could not reasonably have been cured within
      such 90 day period, if the Seller shall have commenced to cure such breach
      within such 90 day period, the Seller shall be permitted to proceed thereafter
      diligently and expeditiously to cure the same within the additional period
      provided under the Mortgage Loan Purchase Agreement; and, provided
      further,
      that,
      in the case of the breach of any representation, warranty or covenant made
      by
      the Seller in Section 2.04 hereof, the Seller shall be obligated to cure such
      breach or purchase the affected Mortgage Loans for the Purchase Price or, if
      the
      Mortgage Loan or the related Mortgaged Property acquired with respect thereto
      has been sold, then the Seller shall pay, in lieu of the Purchase Price, any
      excess of the Purchase Price over the Net Liquidation Proceeds received upon
      such sale. 

     57

  

  

(c) The
      Purchase Price or Repurchase Price (as defined in the Purchase Agreement) for
      a
      Mortgage Loan purchased or repurchased under this Section 2.03 or such other
      amount due shall be deposited in the Distribution Account on or prior to the
      next Determination Date after the Seller’s or the Originator’s obligation to
      repurchase such Mortgage Loan arises. The Trustee, upon receipt of written
      certification from the Seller or the Originator of the related deposit in the
      Distribution Account, shall cause the Custodian to release to the Seller or
      the
      Originator, as applicable, the related Mortgage File and shall execute and
      deliver such instruments of transfer or assignment, in each case without
      recourse, as the Seller or the Originator, as applicable, shall furnish to
      it
      and as shall be necessary to vest in the Seller or the Originator, as
      applicable, any Mortgage Loan released pursuant hereto and the Trustee and
      the
      Custodian shall have no further responsibility with regard to such Mortgage
      File
      (it being understood that the Trustee and the Custodian shall have no
      responsibility for determining the sufficiency of such assignment for its
      intended purpose). In lieu of repurchasing any such Mortgage Loan as provided
      above, the Seller may cause such Mortgage Loan to be removed from the Trust
      Fund
      (in which case it shall become a Deleted Mortgage Loan) and substitute one
      or
      more Qualified Substitute Mortgage Loans in the manner and subject to the
      limitations set forth in Section 2.03(d) below. It is understood and agreed
      that
      the obligation of the Seller to cure or to repurchase or to substitute for
      (or,
      with respect to any costs and damages incurred by the Trust Fund in connection
      with any violation of any anti-predatory or anti-abusive lending laws, indemnify
      for) any Mortgage Loan as to which a document is missing, a material defect
      in a
      constituent document exists or as to which such a breach has occurred and is
      continuing shall constitute the sole remedy against the Seller respecting such
      omission, defect or breach available to the Trustee on behalf of the
      Certificateholders.

     

    (d) Notwithstanding
      anything to the contrary set forth above, with respect to any breach by the
      Seller of a representation or warranty made by the Seller herein or in the
      Mortgage Loan Purchase Agreement that materially and adversely affects the
      value
      of a Mortgage Loan or the Mortgage Loans or the interest therein of the
      Certificateholders or the Certificate Insurer, if the Seller would not be in
      breach of such representation or warranty but for a breach by the Originator
      of
      a representation and warranty made by the Originator in the Servicing Agreement,
      then the Originator thereunder, in the manner and to the extent set forth
      therein, and not the Seller, shall be required to remedy such breach.
In
      addition to such repurchase or substitution obligation, the Seller shall
      indemnify the Trust Fund and hold it harmless against any losses, damages,
      penalties, fines, forfeitures, reasonable and necessary legal fees and related
      costs, judgments, and other costs and expenses resulting from any claim, demand,
      defense or assertion based on or grounded upon, or resulting from, a breach
      of
      the Seller’s representations and warranties contained in Section
      2.04.

     58

  

  

The
      Trustee shall enforce the obligations of the Seller under the Mortgage Loan
      Purchase Agreement including, without limitation, any obligation of the Seller
      to purchase a Mortgage Loan on account of missing or defective documentation
      or
      on account of a breach of a representation, warranty or covenant as described
      in
      this Section 2.03(c).

     

    (e) If
      pursuant to the provisions of Section 2.03(b), the Seller repurchases or
      otherwise removes from the Trust Fund a Mortgage Loan that is a MERS Mortgage
      Loan, the Seller shall take (or shall cause the Servicer to take), at the
      expense of the Seller (with the cooperation of the Depositor and the Trustee),
      such actions as are necessary either (i) cause MERS to execute and deliver
      an
      Assignment of Mortgage in recordable form to transfer the Mortgage from MERS
      to
      the Seller and shall cause such Mortgage to be removed from registration on
      the
      MERS® System in accordance with MERS’ rules and regulations or (ii) cause MERS
      to designate on the MERS® System the Seller or its designee as the beneficial
      holder of such Mortgage Loan.

     

    (f) [Reserved].

     

    (g) Any
      substitution of Qualified Substitute Mortgage Loans for Deleted Mortgage Loans
      made pursuant to Section 2.03(a) above must be effected prior to the last
      Business Day that is within two years after the Closing Date. As to any Deleted
      Mortgage Loan for which the Seller substitutes a Qualified Substitute Mortgage
      Loan or Loans, such substitution shall be effected by the Seller delivering
      to
      the Custodian, on behalf of the Trustee, for such Qualified Substitute Mortgage
      Loan or Loans, the Mortgage Note, the Mortgage, the Assignment to the Trustee,
      and such other documents and agreements, with all necessary endorsements
      thereon, as are required by Section 2.01 hereof, together with an Officers’
Certificate stating that each such Qualified Substitute Mortgage Loan satisfies
      the definition thereof and specifying the Substitution Adjustment (as described
      below), if any, in connection with such substitution; provided,
      however,
      that, in
      the case of any Qualified Substitute Mortgage Loan that is a MERS Mortgage
      Loan,
      the Seller shall provide such documents and take such other action with respect
      to such Qualified Substitute Mortgage Loans as are required pursuant to Section
      2.01 hereof. The Custodian, on behalf of the Trustee, shall acknowledge receipt
      for such Qualified Substitute Mortgage Loan or Loans and, within five Business
      Days thereafter, shall review such documents as specified in Section 2.02 hereof
      and deliver to the Servicer, with respect to such Qualified Substitute Mortgage
      Loan or Loans, a certification substantially in the form attached hereto as
      Exhibit G-2, with any exceptions noted thereon. Within 180 days of the date
      of
      substitution, the Custodian, on behalf of the Trustee, shall deliver to the
      Seller a certification substantially in the form of Exhibit G-3 hereto with
      respect to such Qualified Substitute Mortgage Loan or Loans, with any exceptions
      noted thereon. Monthly Payments due with respect to Qualified Substitute
      Mortgage Loans in the month of substitution are not part of the Trust Fund
      and
      will be retained by the Seller. For the month of substitution, distributions
      to
      Certificateholders will reflect the collections and recoveries in respect of
      such Deleted Mortgage Loan in the Due Period preceding the month of substitution
      and the Depositor or the Seller, as the case may be, shall thereafter be
      entitled to retain all amounts subsequently received in respect of such Deleted
      Mortgage Loan. The Seller shall give or cause to be given written notice to
      the
      Certificateholders that such substitution has taken place, shall amend the
      Mortgage Loan Schedule to reflect the removal of such Deleted Mortgage Loan
      from
      the terms of this Agreement and the substitution of the Qualified Substitute
      Mortgage Loan or Loans and shall deliver a copy of such amended Mortgage Loan
      Schedule to the Trustee. Upon such substitution, such Qualified Substitute
      Mortgage Loan or Loans shall constitute part of the Trust Fund and shall be
      subject in all respects to the terms of this Agreement and, in the case of
      a
      substitution effected by the Seller, the Mortgage Loan Purchase Agreement,
      including, in the case of a substitution effected by the Seller all
      representations and warranties thereof included in the Mortgage Loan Purchase
      Agreement and all representations and warranties thereof set forth in Section
      2.04 hereof, in each case as of the date of substitution.

     59

  

  

For
      any
      month in which the Seller substitutes one or more Qualified Substitute Mortgage
      Loans for one or more Deleted Mortgage Loans, the Seller shall determine, and
      provide written certification to the Trustee and the Seller as to, the amount
      (each, a “Substitution
      Adjustment”),
      if
      any, by which the aggregate Purchase Price of all such Deleted Mortgage Loans
      exceeds the aggregate, as to each such Qualified Substitute Mortgage Loan,
      of
      the principal balance thereof as of the date of substitution, together with
      one
      month’s interest on such principal balance at the applicable Net Loan Rate. On
      or prior to the next Determination Date after the Seller’s obligation to
      repurchase the related Deleted Mortgage Loan arises, the Seller will deliver
      or
      cause to be delivered to the Trustee for deposit in the Distribution Account
      an
      amount equal to the related Substitution Adjustment, if any, and the Custodian,
      on behalf of the Trustee, upon receipt of the related Qualified Substitute
      Mortgage Loan or Loans and a written certification from the Seller of its
      remittance of the deposit to the Distribution Account, shall release to the
      Seller the related Mortgage File or Files and shall execute and deliver such
      instruments of transfer or assignment, in each case without recourse, as the
      Seller shall deliver to it and as shall be necessary to vest therein any Deleted
      Mortgage Loan released pursuant hereto.

     

    In
      addition, the Seller shall obtain at its own expense and deliver to the Trustee
      an Opinion of Counsel to the effect that such substitution (either specifically
      or as a class of transactions) will not cause an Adverse REMIC Event. If such
      Opinion of Counsel cannot be delivered, then such substitution may only be
      effected at such time as the required Opinion of Counsel can be
      given.

     

    (h) Upon
      discovery by the Seller, the Depositor or the Trustee that any Mortgage Loan
      does not constitute a “qualified mortgage” within the meaning of Section
      860G(a)(3) of the Code, the party discovering such fact shall within two
      Business Days give written notice thereof to the other parties. In connection
      therewith, the Seller shall repurchase or, subject to the limitations set forth
      in Section 2.03(c), substitute one or more Qualified Substitute Mortgage Loans
      for the affected Mortgage Loan within 90 days of the earlier of discovery or
      receipt of such notice with respect to such affected Mortgage Loan. Any such
      repurchase or substitution shall be made in the same manner as set forth in
      Section 2.03(b) above, if made by the Seller. The Trustee shall reconvey to
      the
      Seller the Mortgage Loan to be released pursuant hereto in the same manner,
      and
      on the same terms and conditions, as it would a Mortgage Loan repurchased for
      breach of a representation or warranty.

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(i) Notwithstanding
      the foregoing, to the extent that any fact, condition or event with respect
      to a
      Mortgage Loan constitutes a breach of both (i) a representation or warranty
      of
      the Originator under the Purchase Agreement and (ii) a representation or
      warranty of the Seller under this Agreement, in each case, which materially
      adversely affects the value of such Mortgage Loan or the interest therein of
      the
      Certificateholders or the Certificate Insurer, the Trustee shall first request
      that the Originator cure such breach or repurchase such Mortgage Loan and if
      the
      Originator fails to cure such breach or repurchase such Mortgage Loan within
      60
      days of receipt of such request from the Trustee, the Trustee shall then request
      that the Seller cure such breach or repurchase such Mortgage Loans.

     

    SECTION
      2.04. Representations
      and Warranties of the Seller with Respect to the Mortgage
      Loans.

     

    The
      Seller hereby makes the following representations and warranties to the Trustee
      on behalf of the Certificateholders and the Certificate Insurer as of the
      Closing Date with respect to the Mortgage Loans:

     

    (i) Any
      and
      all requirements of any federal, state or local law including, without
      limitation, usury, truth in lending, real estate settlement procedures,
      predatory and abusive lending, consumer credit protection, equal credit
      opportunity, fair housing or disclosure laws applicable to the origination
      and
      servicing of mortgage loans of a type similar to the Mortgage Loans at
      origination have been complied with;

     

    (ii) No
      Mortgage Loan is (a)(1) subject to the provisions of the Homeownership and
      Equity Protection Act of 1994 as amended (“HOEPA”) or (2) has an annual
      percentage rate (“APR”) or total points and fees that are equal to or exceeds
      the HOEPA thresholds (as defined in 12 CFR 226.32 (a)(1)(i) and (ii)), (b)
      a
“high cost” mortgage loan, “covered” mortgage loan, “high risk home” mortgage
      loan, or “predatory” mortgage loan or any other comparable term, no matter how
      defined under any federal, state or local law, (c) subject to any comparable
      federal, state or local statutes or regulations, or any other statute or
      regulation providing for assignee liability to holders of such mortgage loans,
      or (d) a High Cost Loan or Covered Loan, as applicable (as such terms are
      defined in the then current Standard & Poor’s LEVELS® Glossary Revised,
      Appendix E); 

     

    (iii) With
      respect to each representation and warranty with respect to any Mortgage Loan
      made by the Originator in the Purchase Agreement that is made as of the related
      Closing Date (as defined in the related Purchase Agreement), to the Seller’s
      knowledge, no event has occurred since the related Closing Date (as defined
      in
      the related Purchase Agreement) that would render such representations and
      warranties to be untrue in any material respect as of the Closing Date;

     61

  

  

(iv) Each
      Group 1 Mortgage Loan has an original principal balance that conforms to Freddie
      Mac guidelines in effect as of the Closing Date;

     

    (v) No
      Mortgagor obtained a prepaid single premium credit insurance policy (e.g.,
      life,
      mortgage, disability, accident, unemployment or health insurance product) or
      debt cancellation agreement in connection with the origination of the Mortgage
      Loan. No proceeds from any Mortgage Loan were used to purchase single premium
      credit insurance policies or debt cancellation agreements as part of the
      origination of, or as a condition to closing, such Mortgage Loan;

     

    (vi) The
      Mortgage Loan complies with all applicable consumer credit statutes and
      regulations, including, without limitation, the respective Uniform Consumer
      Credit Code laws in effect in Alabama, Colorado, Idaho, Indiana, Iowa, Kansas,
      Maine, Oklahoma, South Carolina, Utah, West Virginia and Wyoming, has been
      originated by a properly licensed entity, and in all other respects, complies
      with all of the material requirements of any such applicable laws;

     

    (vii) The
      Seller has fully and accurately furnished complete information (i.e., favorable
      and unfavorable) on the related borrower credit files to Equifax, Experian
      and
      Trans Union Credit Information Company, in accordance with the Fair Credit
      Reporting Act and its implementing regulations, on a monthly basis and, for
      each
      Mortgage Loan;

     

    (viii) No
      Mortgage Loan is secured by real property or secured by a manufactured home
      located in the state of Georgia unless (x) such Mortgage Loan was originated
      prior to October 1, 2002 or after March 6, 2003, or (y) the property securing
      the Mortgage Loan is not, nor will be, occupied by the Mortgagor as the
      Mortgagor’s principal dwelling. No Mortgage Loan is a “High Cost Home Loan” as
      defined in the Georgia Fair Lending Act, as amended (the “Georgia Act”). Each
      Mortgage Loan that is a “Home Loan” under the Georgia Act complies with all
      applicable provisions of the Georgia Act. No Mortgage Loan secured by owner
      occupied real property or an owner occupied manufactured home located in the
      State of Georgia was originated (or modified) on or after October 1, 2002
      through and including March 6, 2003;

     

    (ix) No
      Mortgage Loan is a “High-Cost” loan as defined under the New York Banking Law
      Section 6-1, effective as of April 1, 2003;

     

    (x) No
      Mortgage Loan (a) is secured by property located in the State of New York;
      (b)
      had an unpaid principal balance at origination of $300,000 or less, and (c)
      has
      an application date on or after April 1, 2003, the terms of which Mortgage
      Loan
      equal or exceed either the APR or the points and fees threshold for “high-cost
      home loans”, as defined in Section 6-1 of the New York State Banking
      Law;

     

    (xi) No
      Mortgage Loan is a “High Cost Home Loan” as defined in the Arkansas Home Loan
      Protection Act effective July 16, 2003 (Act 1340 or 2003);

     

    (xii) No
      Mortgage Loan is a “High Cost Home Loan” as defined in the Kentucky high-cost
      loan statute effective June 24, 2003 (Ky. Rev. Stat.
      Section 360.100);

      62

  

  

    (xiii) No
      Mortgage Loan secured by property located in the State of Nevada is a “home
      loan” as defined in the Nevada Assembly Bill No. 284;

     

    (xiv) No
      Mortgage Loan is a “manufactured housing loan” or “home improvement home loan”
pursuant to the New Jersey Home Ownership Act. No Mortgage Loan is a “High-Cost
      Home Loan” or a refinanced “Covered Home Loan,” in each case, as defined in the
      New Jersey Home Ownership Act effective November 27, 2003 (N.J.S.A. 46;10B-22
      et
      seq.);

     

    (xv) No
      Mortgage Loan is a subsection 10 mortgage under the Oklahoma Home Ownership
      and
      Equity protection Act;

     

    (xvi) No
      Mortgage Loan is a “High-Cost Home Loan” as defined in the New Mexico Home Loan
      Protection Act effective January 1, 2004 (N.M. Stat. Ann. §§ 58-21A-1 et
      seq.);

     

    (xvii) No
      Mortgage Loan is a “High-Risk Home Loan” as defined in the Illinois High-Risk
      Home Loan Act effective January 1, 2004 (815 Ill. Comp. Stat. 137/1 et
      seq.);

     

    (xviii) No
      Mortgage Loan that is secured by property located within the State of Maine
      meets the definition of a (i) “high-rate, high-fee” mortgage loan under Article
      VIII, Title 9-A of the Maine Consumer Credit Code or (ii) “High-Cost Home Loan”
as defined under the Maine House Bill 383 L.D. 494, effective as of September
      13, 2003;

     

    (xix) With
      respect to any Mortgage Loan for which a mortgage loan application was submitted
      by the Mortgagor after April 1, 2004, no such Mortgage Loan secured by Mortgaged
      Property in the State of Illinois which has a Loan Rate in excess of 8.0% per
      annum has lender-imposed fees (or other charges) in excess of 3.0% of the
      original principal balance of the Mortgage Loan;

     

    (xx) No
      Mortgage Loan secured by Mortgaged Property in the state of Massachusetts is
      a
“High Cost Home Mortgage Loan” as defined in Part 40 and Part 32, 209 CMR 40.01
      et seq., effective March 22, 2001; and

     

    (xxi) No
      Loan
      is a “High Cost Home Loan” as defined by the Indiana Home Loan Practices Act,
      effective January 1, 2005 (Ind. Code Ann. §§ 24-9-1 et seq.).

     

    With
      respect to the representations and warranties incorporated in this Section
      2.04
      that are made to the best of the Seller’s knowledge or as to which the Seller
      has no knowledge, if it is discovered by the Depositor, the Seller, the
      Certificate Insurer or the Trustee 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 therein of the
      Certificateholders or the Certificate Insurer then, notwithstanding the Seller’s
      lack of knowledge with respect to the substance of such representation and
      warranty being inaccurate at the time the representation or warranty was made,
      such inaccuracy shall be deemed a breach of the applicable representation or
      warranty.

     63

  

  

It
      is
      understood and agreed that the representations and warranties incorporated
      in
      this Section 2.04 shall survive delivery of the Mortgage Files to the Trustee
      and shall inure to the benefit of the Certificateholders and the Certificate
      Insurer notwithstanding any restrictive or qualified endorsement or assignment.
      Upon discovery by any of the Depositor, the Seller, the Certificate Insurer
      or
      the Trustee of a breach of any of the foregoing representations and warranties
      which materially and adversely affects the value of any Mortgage Loan or the
      interests therein of the Certificateholders or the Certificate Insurer, the
      party discovering such breach shall give prompt written notice to the other
      parties, and in no event later than two Business Days from the date of such
      discovery. It is understood and agreed that the obligations of the Seller set
      forth in Section 2.03(b) hereof to cure, substitute for or repurchase a related
      Mortgage Loan pursuant to the Mortgage Loan Purchase Agreement constitute the
      sole remedies available to the Certificateholders, any NIMS Insurer or to the
      Trustee on their behalf respecting a breach of the representations and
      warranties incorporated in this Section 2.04.

     

    SECTION
      2.05. [Reserved].

     

    SECTION
      2.06. Representations
      and Warranties of the Depositor.

     

    The
      Depositor represents and warrants to the Trust Fund, any NIMS Insurer, the
      Certificate Insurer and the Trustee on behalf of the Certificateholders and
      the
      Certificate Insurer as follows:

     

    (i) this
      agreement constitutes a legal, valid and binding obligation of the Depositor,
      enforceable against the Depositor in accordance with its terms, except as
      enforceability may be limited by applicable bankruptcy, insolvency,
      reorganization, moratorium or other similar laws now or hereafter in effect
      affecting the enforcement of creditors’ rights in general an except as such
      enforceability may be limited by general principles of equity (whether
      considered in a proceeding at law or in equity);

     

    (ii) immediately
      prior to the sale and assignment by the Depositor to the Trustee on behalf
      of
      the Trust Fund of each Mortgage Loan, the Depositor had good and marketable
      title to each Mortgage Loan (insofar as such title was conveyed to it by the
      Seller) subject to no prior lien, claim, participation interest, mortgage,
      security interest, pledge, charge or other encumbrance or other interest of
      any
      nature;

     

    (iii) as
      of the
      Closing Date, the Depositor has transferred all right, title and interest in
      the
      Mortgage Loans to the Trustee on behalf of the Trust Fund;

     

    (iv) the
      Depositor has not transferred the Mortgage Loans to the Trustee on behalf of
      the
      Trust Fund with any intent to hinder, delay or defraud any of its creditors;
      

     

    (v) the
      Depositor has been duly incorporated and is validly existing as a corporation
      in
      good standing under the laws of Delaware, with full corporate power and
      authority to own its assets and conduct its business as presently being
      conducted;

     

    (vi) the
      Depositor is not in violation of its certificate of incorporation or by-laws
      or
      in default in the performance or observance of any material obligation,
      agreement, covenant or condition contained in any contract, indenture, mortgage,
      loan agreement, note, lease or other instrument to which the Depositor is a
      party or by which it or its properties may be bound, which default might result
      in any material adverse changes in the financial condition, earnings, affairs
      or
      business of the Depositor or which might materially and adversely affect the
      properties or assets, taken as a whole, of the Depositor;

     64

  

  

(vii) the
      execution, delivery and performance of this Agreement by the Depositor, and
      the
      consummation of the transactions contemplated hereby, do not and will not result
      in a material breach or violation of any of the terms or provisions of, or,
      to
      the knowledge of the Depositor, constitute a default under, any indenture,
      mortgage, deed of trust, loan agreement or other agreement or instrument to
      which the Depositor is a party or by which the Depositor is bound or to which
      any of the property or assets of the Depositor is subject, nor will such actions
      result in any violation of the provisions of the certificate of incorporation
      or
      by-laws of the Depositor or, to the best of the Depositor’s knowledge without
      independent investigation, any statute or any order, rule or regulation of
      any
      court or governmental agency or body having jurisdiction over the Depositor
      or
      any of its properties or assets (except for such conflicts, breaches, violations
      and defaults as would not have a material adverse effect on the ability of
      the
      Depositor to perform its obligations under this Agreement);

     

    (viii) to
      the
      best of the Depositor’s knowledge without any independent investigation, no
      consent, approval, authorization, order, registration or qualification of or
      with any court or governmental agency or body of the United States or any other
      jurisdiction is required for the issuance of the Certificates, or the
      consummation by the Depositor of the other transactions contemplated by this
      Agreement, except such consents, approvals, authorizations, registrations or
      qualifications as (a) may be required under State securities or “blue sky” laws,
      (b) have been previously obtained or (c) the failure of which to obtain would
      not have a material adverse effect on the performance by the Depositor of its
      obligations under, or the validity or enforceability of, this Agreement;
      and

     

    (ix) there
      are
      no actions, proceedings or investigations pending before or, to the Depositor’s
      knowledge, threatened by any court, administrative agency or other tribunal
      to
      which the Depositor is a party or of which any of its properties is the subject:
      (a) which if determined adversely to the Depositor would have a material adverse
      effect on the business, results of operations or financial condition of the
      Depositor; (b) asserting the invalidity of this Agreement or the Certificates;
      (c) seeking to prevent the issuance of the Certificates or the consummation
      by
      the Depositor of any of the transactions contemplated by this Agreement, as
      the
      case may be; or (d) which might materially and adversely affect the performance
      by the Depositor of its obligations under, or the validity or enforceability
      of,
      this Agreement.

     

    SECTION
      2.07. Issuance
      of Certificates.

     

    The
      Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery
      to it or to the Custodian of the Mortgage Files, subject to the provisions
      of
      Sections 2.01 and 2.02 hereof, together with the assignment to it of all
      other assets included in the Trust Fund, receipt of which is hereby
      acknowledged. Concurrently with such assignment and delivery and in exchange
      therefor, the Trustee, pursuant to the written request of the Depositor executed
      by an officer of the Depositor, has caused to be executed, authenticated and
      delivered to or upon the order of the Depositor, the Certificates in authorized
      denominations. The interests evidenced by the Certificates constitute the entire
      beneficial ownership interest in the Trust Fund.

     65

  

  

SECTION
      2.08. Representations
      and Warranties of the Seller.

     

    The
      Seller hereby represents and warrants to the Trustee on behalf of the
      Certificateholders and the Certificate Insurer that, as of the Closing Date
      or
      as of such date specifically provided herein:

     

    (i) The
      Seller is duly organized, validly existing and in good standing and has the
      power and authority to own its assets and to transact the business in which
      it
      is currently engaged. The Seller is duly qualified to do business and is in
      good
      standing in each jurisdiction in which the character of the business transacted
      by it or properties owned or leased by it requires such qualification and in
      which the failure to so qualify would have a material adverse effect on (a)
      its
      business, properties, assets or condition (financial or other), (b) the
      performance of its obligations under this Agreement, or (c) the value or
      marketability of the Mortgage Loans.

     

    (ii) The
      Seller has the power and authority to make, execute, deliver and perform this
      Agreement and to consummate all of the transactions contemplated hereunder
      and
      has taken all necessary action to authorize the execution, delivery and
      performance of this Agreement which is part of its official records. When
      executed and delivered, this Agreement will constitute the Seller’s legal, valid
      and binding obligations enforceable in accordance with its terms, except as
      enforcement of such terms may be limited by (1) bankruptcy, insolvency,
      reorganization, receivership, moratorium or similar laws affecting the
      enforcement of creditors’ rights generally and the rights of creditors of
      federally insured financial institutions and by the availability of equitable
      remedies, (2) general equity principles (regardless of whether such enforcement
      is considered in a proceeding in equity or at law) or (3) public policy
      considerations underlying the securities laws, to the extent that such policy
      considerations limit the enforceability of the provisions of this Agreement
      which purport to provide indemnification from securities laws
      liabilities.

     

    (iii) The
      Seller holds all necessary licenses, certificates and permits from all
      governmental authorities necessary for conducting its business as it is
      currently conducted. It is not required to obtain the consent of any other
      party
      or any consent, license, approval or authorization from, or registration or
      declaration with, any governmental authority, bureau or agency in connection
      with the execution, delivery, performance, validity or enforceability of this
      Agreement, except for such consents, licenses, approvals or authorizations,
      or
      registrations or declarations as shall have been obtained or filed, as the
      case
      may be, prior to the Closing Date.

     

    (iv) The
      execution, delivery and performance of this Agreement by the Seller will not
      conflict with or result in a breach of, or constitute a default under, any
      provision of any existing law or regulation or any order or decree of any court
      applicable to the Seller or any of its properties or any provision of its
      articles of incorporation, charter or by-laws, or constitute a material breach
      of, or result in the creation or imposition of any lien, charge or encumbrance
      upon any of its properties pursuant to any mortgage, indenture, contract or
      other agreement to which it is a party or by which it may be bound.

     66

  

  

(v) No
      certificate of an officer, written statement or written report delivered
      pursuant to the terms hereof of the Seller contains any untrue statement of
      a
      material fact or omits to state any material fact necessary to make the
      certificate, statement or report not misleading.

     

    (vi) The
      transactions contemplated by this Agreement are in the ordinary course of the
      Seller’s business.

     

    (vii) The
      Seller is not insolvent, nor will the Seller be made insolvent by the transfer
      of the Mortgage Loans to the Depositor, nor is the Seller aware of any pending
      insolvency of the Seller.

     

    (viii) The
      Seller is not in violation of, and the execution and delivery of this Agreement
      by the Seller and its performance and compliance with the terms of this
      Agreement will not constitute a violation with respect to, any order or decree
      of any court, or any order or regulation of any federal, state, municipal or
      governmental agency having jurisdiction, which violation would materially and
      adversely affect the Seller’s financial condition (financial or otherwise) or
      operations, or materially and adversely affect the performance of any of its
      duties hereunder.

     

    (ix) There
      are
      no actions or proceedings against the Seller, or pending or, to its knowledge,
      threatened, before any court, administrative agency or other tribunal; nor,
      to
      the Seller’s knowledge, are there any investigations (i) that, if determined
      adversely, would prohibit the Seller from entering into this Agreement, (ii)
      seeking to prevent the consummation of any of the transactions contemplated
      by
      this Agreement or (iii) that, if determined adversely, would prohibit or
      materially and adversely affect the Seller’s ability to perform any of its
      respective obligations under, or the validity or enforceability of, this
      Agreement.

     

    (x) The
      Seller did not transfer the Mortgage Loans to the Depositor with any intent
      to
      hinder, delay or defraud any of its creditors.

     

    (xi) The
      Seller acquired title to the Mortgage Loans in good faith, without notice of
      any
      adverse claims.

     

    (xii) The
      transfer, assignment and conveyance of the Mortgage Notes and the Mortgages
      by
      the Seller to the Depositor are not subject to the bulk transfer laws or any
      similar statutory provisions in effect in any applicable
      jurisdiction.

     67

  

  

SECTION
      2.09. Covenants
      of the Seller. 

     

    The
      Seller hereby covenants that, except for the transfer hereunder, the Seller
      will
      not sell, pledge, assign or transfer to any other Person, or grant, create,
      incur, assume or suffer to exist any lien on any Mortgage Loan, or any interest
      therein; the Seller will notify the Trustee, as assignee of the Depositor and
      the Certificate Insurer, of the existence of any lien on any Mortgage Loan
      immediately upon discovery thereof, and the Seller will defend the right, title
      and interest of the Trustee, as assignee of the Depositor, in, to and under
      the
      Mortgage Loans, against all claims of third parties claiming through or under
      the Seller; provided,
      however,
      that
      nothing in this Section 2.09 shall prevent or be deemed to prohibit the Seller
      from suffering to exist upon any of the Mortgage Loans any liens for municipal
      or other local taxes and other governmental charges if such taxes or
      governmental charges shall not at the time be due and payable or if the Seller
      shall currently be contesting the validity thereof in good faith by appropriate
      proceedings and shall have set aside on its books adequate reserves with respect
      thereto.
      The
      Seller shall, within 30 days after the Closing Date, provide the Trustee, the
      Servicer, the Certificate Insurer and the Depositor a complete list of each
      party to the HarborView Mortgage Loan Trust 2006-9 transaction.

     

    ARTICLE
      III

     

    ADMINISTRATION
      OF THE MORTGAGE LOANS

     

    SECTION
      3.01. Servicing
      of the Mortgage Loans. 

     

    The
      Servicer will service the Mortgage Loans pursuant to the terms of the Servicing
      Agreement. The Depositor hereby directs the Trustee to execute the Reconstituted
      Servicing Agreement and the Custodial Agreement.

     

    SECTION
      3.02. REMIC-Related
      Covenants.

     

    For
      as
      long as each REMIC created hereunder shall exist, the Trustee shall act in
      accordance herewith to treat each such REMIC as a REMIC, and the Trustee shall
      comply with any directions of the Depositor or the Servicer to assure such
      continuing treatment. In particular, the Trustee shall not (a) sell or knowingly
      permit the sale of all or any portion of the Mortgage Loans or of any investment
      of deposits in an Account unless such sale is as a result of a repurchase of
      the
      Mortgage Loans or is otherwise permitted pursuant to this Agreement or the
      Servicing Agreement or the Trustee has received a REMIC Opinion prepared at
      the
      expense of the Trust Fund; and (b) other than with respect to a substitution
      pursuant to the Mortgage Loan Purchase Agreement or Section 2.03 or 2.04 of
      this
      Agreement or as otherwise provided in this Agreement or the Servicing Agreement,
      as applicable, accept any contribution to any REMIC after the Startup Day
      without receipt of a REMIC Opinion.

     

    SECTION
      3.03. Release
      of Mortgage Files.

     

    (a) Upon
      becoming aware of the payment in full of any Mortgage Loan, or the receipt
      by
      the 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 Servicing Agreement,
      promptly furnish to the Custodian, on behalf of the Trustee, two copies of
      a
      certification substantially in the form of Exhibit F 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
      Servicing Account maintained by the Servicer pursuant to Section 4.01 or by
      the
      Servicer pursuant to the Servicing Agreement have been or will be so deposited)
      and shall request that the Trustee (or the Custodian, on behalf of the Trustee)
      deliver to the Servicer the related Mortgage File. Upon receipt of such
      certification and request, the Trustee (or the Custodian, on behalf of the
      Trustee), shall promptly release the related Mortgage File to the Servicer,
      the
      Trustee and the Custodian shall have no further responsibility with regard
      to
      such Mortgage File. Upon any such payment in full, the 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 Servicing 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 Servicing Agreement, the Trustee shall execute such
      documents as shall be prepared and furnished to the Trustee by the Servicer
      (in
      form reasonably acceptable to the Trustee) and as are necessary to the
      prosecution of any such proceedings. The Trustee (or the Custodian, on behalf
      of
      the Trustee), shall, upon the request of the Servicer, and upon delivery to
      the
      Trustee (or 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
      F
      (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. Such trust receipt
      shall
      obligate the Servicer to return the Mortgage File to the Trustee (or the
      Custodian on behalf of the Trustee) when the need therefor by the 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 Trustee (or the Custodian
      on behalf of the Trustee), to the Servicer.

     

    SECTION
      3.04. Assessments
      of Compliance and Attestation Reports.

     

    (a) Assessments
      of Compliance.

     

    (i) By
      March
      10 (with a 5 calendar day cure period) of each year, commencing in March 2007,
      the Trustee, and the Custodian, each at its own expense, shall furnish, and
      each
      such party shall cause any Servicing Function Participant engaged by it to
      furnish or otherwise make available, each at its own expense, to the Depositor,
      a report on such party’s assessment of compliance with the Relevant Servicing
      Criteria that contains (A) a statement by such party of its responsibility
      for
      assessing compliance with the Relevant Servicing Criteria, (B) a statement
      that
      such party used the Servicing Criteria to assess compliance with the Relevant
      Servicing Criteria, (C) such party’s assessment of compliance with the Relevant
      Servicing Criteria as of and for the fiscal year covered by the Form 10-K
      required to be filed pursuant to Section 3.07(b), including, if there has been
      any material instance of noncompliance with the Relevant Servicing Criteria,
      a
      discussion of each such failure and the nature and status thereof, and (D)
      a
      statement that a registered public accounting firm has issued an attestation
      report on such party’s assessment of compliance with the Relevant Servicing
      Criteria as of and for such period. 

     69

  

  

(ii) No
      later
      than the end of each fiscal year for the Trust Fund for which a Form 10-K is
      required to be filed, the Custodian shall forward to the Depositor the name
      of
      each Servicing Function Participant engaged by it and what Relevant Servicing
      Criteria will be addressed in the report on assessment of compliance prepared
      by
      such Servicing Function Participant. When the Custodian and any Servicing
      Function Participant engaged by them submit their assessments to the Depositor,
      such parties will also at such time include the assessment (and attestation
      pursuant to subsection (b) of this Section 3.04) of each Servicing Function
      Participant engaged by it.

     

    (iii) Promptly
      after receipt of each such report on assessment of compliance, the Depositor
      shall review each such report and, if applicable, consult with the Trustee
      and
      the Custodian, and any Servicing Function Participant engaged by such parties
      as
      to the nature of any material instance of noncompliance with the Relevant
      Servicing Criteria by each such party.

     

    (iv) The
      Trustee shall include all annual reports on assessment of compliance received
      by
      it from the Servicer (or the Subservicer on its behalf) with its own assessment
      of compliance to be submitted to the Depositor pursuant to this
      Section.

     

    (v) In
      the
      event the Trustee, the Servicer, the Custodian or any Servicing Function
      Participant engaged by such party is terminated, assigns its rights and
      obligations under or resigns pursuant to the terms of this Agreement, or any
      other applicable agreement, as the case may be, such party shall provide a
      report on assessment of compliance pursuant to this Section 3.04(a) or to such
      other applicable agreement with respect to the period of time it was subject
      to
      this Agreement or any applicable subservicing agreement, notwithstanding any
      such termination, assignment or resignation.

     

    (b) Attestation
      Reports.

     

    (i) By
      March
      10 (with a 5 calendar day cure period) of each year, commencing in March 2007,
      the Trustee and the Custodian, each at its own expense, shall cause, and each
      such party shall cause any Servicing Function Participant engaged by it to
      cause, each at its own expense, a registered public accounting firm (which
      may
      also render other services to the Trustee, the Custodian, or such other
      Servicing Function Participants, as the case may be) and that is a member of
      the
      American Institute of Certified Public Accountants to furnish a report to the
      Depositor, to the effect that (i) it has obtained a report on assessment of
      compliance with the Relevant Servicing Criteria from the management of such
      party, which includes an assertion that such party has complied with the
      Relevant Servicing Criteria, and (ii) on the basis of an examination conducted
      by such firm in accordance with standards for attestation engagements issued
      or
      adopted by the PCAOB, it is expressing an opinion as to whether such party’s
      compliance with the Relevant Servicing Criteria was fairly stated in all
      material respects, or it cannot express an overall opinion regarding such
      party’s assessment of compliance with the Relevant Servicing Criteria. In the
      event that an overall opinion cannot be expressed, such registered public
      accounting firm shall state in such report why it was unable to express such
      an
      opinion. Such report must be available for general use and not contain
      restricted use language. 

     70

  

  

(ii) Promptly
      after receipt of each such assessment of compliance and attestation report
      the
      Depositor shall confirm that each assessment submitted pursuant to subsection
      (a) of this Section 3.04 is coupled with an attestation meeting the requirements
      of this Section and notify the Depositor of any exceptions.

     

    (iii) The
      Trustee shall include each such attestation furnished to it by the Servicer
      with
      its own attestation to be submitted to the Depositor pursuant to this
      Section.

     

    (iv) In
      the
      event the Trustee, the Custodian, the Servicer or any Servicing Function
      Participant engaged by such party is terminated, assigns its rights and duties
      under or resigns pursuant to the terms of this Agreement, or any applicable
      custodial agreement, servicing agreement or subservicing agreement, as the
      case
      may be, such party shall cause a registered public accounting firm to provide
      an
      attestation pursuant to this Section 3.04(b) with respect to the period of
      time
      it was subject to this Agreement or any applicable subservicing agreement,
      notwithstanding any such termination, assignment or resignation.

     

    (v) The
      Trustee’s and the Custodian’s obligation to provide assessments of compliance
      and attestations under this Section 3.04 shall terminate upon the filing of
      a
      Form 15 suspension notice on behalf of the Trust Fund.

     

    (c) The
      Trustee’s obligation to provide assessments of compliance and attestations under
      this Section 3.04 shall terminate when the Trust Fund is no longer required
      to
      file reports pursuant to Section 15(d) of the Exchange Act.

     

    SECTION
      3.05. Enforcement
      of Regulation AB Deliverables.

     

    If
      the
      Servicer or any Servicing Function Participant engaged by it fails to deliver
      any
      certifications, assessments, attestations or statements of compliance to
        the Trustee within the time specified in the Servicing Agreement the
        Trustee shall notify the Servicer or any such Servicing Function Participant
        in writing of such failure, with a copy of such notice to be delivered
        to the Seller and the Depositor. If at the end of the applicable cure
        period the Servicer or any Servicing Function Participant has failed
        to deliver any of the required certifications, assessments, attestations
        or statements of compliance, the Trustee shall notify the Seller and
        the Depositor of such failure to deliver the required certifications,
        assessments, attestations or statements of compliance pursuant to the
        Servicing Agreement.

     

    SECTION
      3.06. Sarbanes-Oxley
      Certification.

     

    Each
      Form
      10-K shall include a Sarbanes-Oxley Certification, required to be included
      therewith pursuant to the Sarbanes-Oxley Act. The Trustee and the Servicer
      shall
      provide, and each such party shall cause any Servicing Function Participant
      engaged by it to provide, to the Person who signs the Sarbanes-Oxley
      Certification (the “Certifying
      Person”),
      by
      March 10 (with a 5 calendar day cure period) of each year in which the Trust
      Fund is subject to the reporting requirements of the Exchange Act and otherwise
      within a reasonable period of time upon request, a certification (each, a
“Back-Up
      Certification”)
      in the
      form of Exhibit M hereto 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. A senior officer of the Depositor shall serve as the Certifying
      Person on behalf of the Trust Fund. Such officer of the Certifying Person can
      be
      contacted by facsimile at (203) 618-2596. In the event any such party or any
      Servicing Function Participant engaged by such party is terminated or resigns
      pursuant to the terms of this Agreement, or any applicable subservicing
      agreement, as the case may be, such party shall provide a Back-Up Certification
      to the Certifying Person pursuant to this Section 3.06 with respect to the
      period of time it was subject to this Agreement or any applicable subservicing
      agreement, as the case may be.

     71

  

  

SECTION
      3.07. Reports
      Filed with Securities and Exchange Commission.

     

    The
      Trustee shall reasonably cooperate with the Depositor in connection with the
      Trust Fund’s satisfying the reporting requirements under the Exchange
      Act.

     

    (a) Reports
      Filed on Form 10-D.

     

    (i) Within
      15
      days after each Distribution Date (subject to permitted extensions under the
      Exchange Act), the Trustee shall prepare and file on behalf of the Trust Fund
      any Form 10-D required by the Exchange Act, in form and substance as required
      by
      the Exchange Act. The Trustee shall file each Form 10-D with a copy of the
      related Distribution Date Statement attached thereto. Any disclosure in addition
      to the Distribution Date Statement that is required to be included on Form
      10-D
      (“Additional
      Form 10-D Disclosure”)
      shall
      be reported by the responsible parties set forth on Exhibit O to the Trustee
      and
      Depositor and directed and approved by the Depositor pursuant to the following
      paragraph and the Trustee will have no duty or liability for any failure
      hereunder to determine or prepare any Additional Form 10-D Disclosure, except
      as
      set forth in the next paragraph.

     

    (ii) As
      set
      forth on Exhibit R hereto, within 5 calendar days after the related Distribution
      Date, (i) the parties to the HarborView Mortgage Loan Trust 2006-9 transaction
      shall be required to provide to the Trustee (via electronic mail to
      DBSEC.Notification@DB.com), the Depositor and McKee Nelson LLP, to the extent
      known by a responsible officer thereof, in EDGAR-compatible form (which may
      be
      Word or Excel documents easily convertible to EDGAR format), or in such other
      form as otherwise agreed upon by the Trustee and such party, the form and
      substance of any Additional Form 10-D Disclosure, if applicable, together with
      an Additional Disclosure Notification in the form of Exhibit U hereto (an
“Additional Disclosure Notification”) 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 Seller will be responsible
      for
      any reasonable fees and expenses assessed or incurred by the Trustee in
      connection with including any Additional Form 10-D Disclosure in Form 10-D
      pursuant to this paragraph.

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(iii) After
      preparing the Form 10-D, the Trustee shall, no later than 10 calendar days
      after
      the Distribution Date, forward electronically a copy of the Form 10-D to the
      Depositor and McKee Nelson LLP. Within two Business Days after receipt of such
      copy, but no later than the 12th calendar day after the Distribution Date (or
      the next succeeding Business Day), (i) the Depositor shall notify the Trustee
      in
      writing of any changes to or approval of such Form 10-D and (ii) an officer
      of
      the Depositor shall execute the Form 10-D and return an electronic or fax copy
      of such executed Form 10-D (with an original executed hard copy to follow by
      overnight mail). Upon receipt of the executed Form 10-D and in the absence
      of
      receipt of any written changes or approval, the Trustee shall be entitled to
      assume that such Form 10-D is in final form the Trustee may proceed with the
      filing of Form 10-D. If a Form 10-D cannot be filed on time or if a previously
      filed Form 10-D needs to be amended, the Trustee will follow the procedures
      set
      forth in subsection (d)(ii) of this Section 3.07. Promptly (but no later than
      1
      Business Day) after filing with the Commission, the Trustee will make available
      on its internet website at https://www.tss.db.com/invr
      a final
      executed copy of each Form 10-D filed by the Trustee. Each party to this
      Agreement acknowledges that the performance by the Depositor and the Trustee
      of
      their respective duties under this Section 3.07(a) 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 this Section 3.07(a). The Trustee shall have no liability for any loss,
      expense, damage, claim arising out of or with respect to any failure to properly
      prepare and/or timely file such Form 10-D, where such failure results from
      the
      Trustee’s inability or failure to receive, on a timely basis, any information
      from any other party hereto needed to prepare, arrange for execution or file
      such Form 10-D, and for any erroneous, inaccurate or incomplete information
      or
      certification provided to the Trustee, not resulting from its own negligence,
      bad faith or willful misconduct.

     

    (iv) 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 hereby represents to
      the Trustee that the Depositor has filed all such required reports during the
      preceding 12 months and that it has been subject to such filing requirement
      for
      the past 90 days. The Depositor shall notify the Trustee 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 Trustee shall be entitled to rely on such representations in preparing
      and/or filing any such report.

     

    (b) Reports
      Filed on Form 10-K.

     

    (i) On
      or
      prior to the 90th day after the end of each fiscal year of the Trust Fund in
      which a Form 10-K is required to be filed 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 Fund ends on December
      31st
      of each
      year), commencing in March 2007, the Trustee shall prepare and file on behalf
      of
      the Trust Fund 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 Trustee within the applicable time frames
      set forth in this Agreement, the Servicing Agreement and Custodial Agreement,
      (i) an annual compliance statement for the Servicer and any Servicing Function
      Participant engaged by such parties (with each of the Trustee and the Custodian,
      a “Reporting
      Servicer”)
      as
      described under Section 3.05 and in such other agreement, (ii)(A) the annual
      reports on assessment of compliance with servicing criteria for each Reporting
      Servicer, as described under Section 3.04(a), and (B) if any Reporting
      Servicer’s report on assessment of compliance with servicing criteria described
      under Section 3.04(a) identifies any material instance of noncompliance,
      disclosure identifying such instance of noncompliance, or if any Reporting
      Servicer’s report on assessment of compliance with servicing criteria described
      under Section 3.04(a) 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 each Reporting Servicer, as described under Section 3.04(b), and
      (B)
      if any registered public accounting firm attestation report described under
      Section 3.04(b) 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 3.06; provided,
      however,
      that
      the Depositor, 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 reported by the responsible parties set forth on Exhibit O to the Depositor
      and Trustee (via electronic mail to DBSEC.Notification@DB.com) and directed
      and
      approved by the Depositor pursuant to the following paragraph and the Trustee
      will have no duty or liability for any failure hereunder to determine or prepare
      any Additional Form 10-K Disclosure, except as set forth in the next
      paragraph.

     73

  

  

(ii) As
      set
      forth on Exhibit R hereto, no later than March 10 (with a 5 calendar day cure
      period) of each year that the Trust Fund is subject to the Exchange Act
      reporting requirements, commencing in 2007, (i) the parties to the HarborView
      Mortgage Loan Trust 2006-9 transaction shall be required to provide to the
      Trustee (via electronic mail to DBSEC.Notification@DB.com) and the Depositor,
      to
      the extent known by a responsible officer thereof, in EDGAR-compatible form
      (which may be Word or Excel documents easily convertible to EDGAR format),
      or in
      such other form as otherwise agreed upon by the Trustee and such party, the
      form
      and substance of any Additional Form 10-K Disclosure, if applicable, together
      with an Additional Disclosure Notification 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 Seller will be responsible
      for any reasonable fees and expenses assessed or incurred by the Trustee in
      connection with including any Additional Form 10-K Disclosure in Form 10-K
      pursuant to this paragraph.

     74

  

  

(iii) After
      preparing the Form 10-K, the Trustee shall forward electronically a copy of
      the
      Form 10-K to the Depositor and McKee Nelson LLP. Within three Business Days
      after receipt of such copy, but no later than March 25th,
      (i) the
      Depositor shall notify the Trustee in writing of any changes to or approval
      of
      such Form 10-K and (ii) an officer of the Depositor shall execute the Form
      10-K
      and return an electronic or fax copy of such executed Form 10-K (with an
      original executed hard copy to follow by overnight mail). Upon receipt of the
      executed Form 10-K and in the absence of receipt of any written changes or
      approval, the Trustee shall be entitled to assume that such Form 10-K is in
      final form and the Trustee may proceed with the filing of the Form 10-K. If
      a
      Form 10-K cannot be filed on time or if a previously filed Form 10-K needs
      to be
      amended, the Trustee will follow the procedures set forth in subsection (d)(ii)
      of this Section 3.07. Promptly (but no later than 1 Business Day) after filing
      with the Commission, the Trustee will make available on its internet website
      at
https://www.tss.db.com/invr
      a final
      executed copy of each Form 10-K filed by the Trustee. The parties to this
      Agreement acknowledge that the performance by the Depositor and the Trustee
      of
      its duties under this Section 3.07(b) related to the timely preparation,
      execution and filing of Form 10-K is contingent upon such parties (and any
      Servicing Function Participant) strictly observing all applicable deadlines
      in
      the performance of their duties under this Section 3.07(b), Section 3.06,
      Section 3.05, Section 3.04(a) and Section 3.04(b). Neither the Servicer nor
      the
      Trustee 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 such Form 10-K, where such failure results from the Trustee’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, and
      for
      any erroneous, inaccurate or incomplete information or certification provided
      to
      the Trustee, not resulting from its own negligence, bad faith or willful
      misconduct.

     

    (iv) 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 hereby represents to
      the Trustee that the Depositor has filed all such required reports during the
      preceding 12 months and that it has been subject to such filing requirement
      for
      the past 90 days. The Depositor shall notify the Trustee in writing, no later
      than March 15th with respect to the filing of a report on Form 10-K, if the
      answer to the questions should be “no.” The Trustee shall be entitled to rely on
      such representations in preparing and/or filing any such report.

     

    (c) Reports
      Filed on Form 8-K.

     

    (i) Within
      four (4) Business Days after the occurrence of an event requiring disclosure
      on
      Form 8-K (each such event, a “Reportable
      Event”),
      and
      if requested by the Depositor, the Trustee shall prepare and file on behalf
      of
      the Trust Fund a 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 in Form 8-K (“Form
      8-K Disclosure Information”)
      shall
      be reported by the responsible parties set forth on Exhibit O to the Depositor
      and Trustee and directed and approved by the Depositor pursuant to the following
      paragraph and the Trustee will have no duty or liability for any failure
      hereunder to determine or prepare any Form 8-K Disclosure Information or any
      Form 8-K, except as set forth in the next paragraph.

     75

  

  

(ii) As
      set
      forth on Exhibit R hereto, for so long as the Trust Fund is subject to the
      Exchange Act reporting requirements, no later than noon Eastern Standard Time
	   on the 2nd Business Day after the occurrence of a Reportable
      Event (i) the parties to the HarborView Mortgage Loan Trust 2006-9 transaction
      shall be required to provide to the Trustee (via electronic mail to
      DBSEC.Notification@DB.com) and the Depositor, in EDGAR-compatible form (which
      may be Word or Excel documents easily convertible to EDGAR format), or in such
      other form as otherwise agreed upon by the Trustee and such party, the form
      and
      substance of any Form 8-K Disclosure Information, if applicable, together with
      an Additional Disclosure Notification in the form of Exhibit U hereto and (ii)
      the Depositor will approve, as to form and substance, or disapprove, as the
      case
      may be, the inclusion of the Form 8-K Disclosure Information. The Seller will
      be
      responsible for any reasonable fees and expenses assessed or incurred by the
      Trustee in connection with including any Form 8-K Disclosure Information in
      Form
      8-K pursuant to this paragraph. 

     

    (iii) After
      preparing the Form 8-K, the Trustee
      shall
      forward electronically a copy of the Form 8-K to the Depositor by the close
      of business California time on the 2nd Business Day after the occurrence
      of a Reportable Event. Promptly, but no later than the close
      of
      business on the third Business Day after the Reportable Event, (i) the
      Depositor shall notify the Trustee
      in
      writing of any change to or approval of such Form 8-K and (ii) an officer
      of the
      Depositor shall execute the Form 8-K and return an electronic or fax copy
      of such executed Form 8-K (with an original executed hard copy to follow
      by
      overnight mail). Upon receipt of the executed Form 8-K and in the absence
      of receipt of any written changes or approval, the Trustee
      shall
      be
      entitled to assume that such Form 8-K is in final form and
      the
      Trustee may
      proceed with 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 Trustee
      will
      follow the procedures set forth in subsection (d)(ii) of this Section 3.07.
      Promptly (but no later than 1 Business Day) after filing with the Commission,
      the Trustee
      will,
      make available on its internet website at https://www.tss.db.com/invr
      a final
      executed copy of each Form 8-K filed by the Trustee.
      The
      parties to this Agreement acknowledge that the performance by the Depositor
      and
      the Trustee
      of
      their
      respective duties under this Section 3.07(c) 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 3.07(c). The Trustee
      shall have no
      liability for any loss, expense, damage, claim arising out of or with respect
      to
      any failure to properly prepare, execute and/or timely file such Form 8-K,
      where
      such failure results from the Trustee’s
      inability or failure to receive, on a timely basis, any information from
      any other party hereto needed to prepare, arrange for execution or file
      such Form
      8-K, not resulting from its own negligence, bad faith or willful
      misconduct.

     

    (d) Suspension
      of Reporting; Amendments; Late Filings.

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(i) On
      or
      prior to January 30 of the first year in which the Trust Fund is able to do
      so
      under applicable law, the Trustee shall prepare and file a Form 15 Suspension
      Notification relating to the automatic suspension of reporting in respect of
      the
      Trust Fund under the Exchange Act. 

     

    (ii) In
      the
      event that the Trustee 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 Trustee will promptly notify the Depositor and McKee
      Nelson LLP either via mail, e-mail or telephone. In the case of Form 10-D and
      10-K, the parties to this Agreement will cooperate to prepare and file a Form
      12b-25 and a 10-D/A and 10-K/A, as applicable, pursuant to Rule 12b-25 of the
      Exchange Act. In the case of Form 8-K, the Trustee shall, 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 that the Trustee has actual knowledge or has received notice that
      any
      previously filed Form 8-K, 10-D or 10-K needs to be amended in connection with
      any Additional Form 10-D Disclosure, any Additional Form 10-K Disclosure or
      any
      Additional Form 8-K Disclosure Information or any amendment to such disclosure
      (other than for the purpose of restating any Distribution Date Statement),
      the
      Trustee will electronically notify the Depositor and McKee Nelson LLP and such
      other parties to the transaction as are affected by such amendment and such
      parties will cooperate to prepare any necessary 8-KA, 10-D/A or 10-K/A. Any
      Form
      15, Form 12b-25 or any amendment to Form 8-K, Form 10-K or 10-D shall be signed
      by an officer of the Depositor. The parties to this Agreement acknowledge that
      the performance by the Depositor and the Trustee of their respective duties
      under this Section 3.07(d)
      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 each such
      party performing its duties under this Section 3.07.
      The
      Trustee shall not have any liability for any loss, expense, damage, claim
      arising out of or with respect to any failure to properly prepare and/or timely
      file any such Form 15, Form 12b-25 or any amendments to Forms 8-K, 10-D or
      10-K,
      where such failure results from the Trustee’s inability or failure to obtain or
      receive, on a timely basis, any information from any other party hereto needed
      to prepare, arrange for execution or file such Form 15, Form 12b-25 or any
      amendments to Forms 8-K, 10-D or 10-K, and for any erroneous, inaccurate or
      incomplete information or certification provided to the Trustee, not resulting
      from its own negligence, bad faith or willful misconduct.

     

    (e) Not
      later
      than March 15 of each year (beginning in 2007) (or, if such day is not a
      Business Day, the immediately preceding Business Day), the Trustee shall sign
      the Trustee Certification (in the form attached hereto as Exhibit P) for the
      benefit of the Depositor and its officers, directors and
      affiliates.

     

    Any
      notice or notification required to be delivered by the Trustee to the Depositor
      pursuant to this Section 3.07
      may be
      delivered via facsimile to (203) 618-2596 or telephonically by calling
      (203) 422-4284, any notice or notification required to be delivered to the
      Trustee may be delivered via electronic mail to DBSEC.Notification@DB.com and
      any notice or notification required to be delivered by the Trustee to McKee
      Nelson LLP pursuant to this Section 3.07, may be delivered via e-mail to
      RBSGC@mckeenelson.com.

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SECTION
      3.08. Additional
      Information.

     

    Each
      of
      the parties agrees to provide to the Trustee such additional information related
      to such party as the Trustee may reasonably request, including evidence of
      the
      authorization of the person signing any certification or statement, financial
      information and reports, and such other information related to such party or
      its
      performance hereunder.

     

    SECTION
      3.09. Intention
      of the Parties and Interpretation.

     

    Each
      of
      the parties acknowledges and agrees that the purpose of Section 3.04 through
      Section 3.09 of this Agreement is to facilitate compliance by the Trustee and
      the Depositor with the provisions of Regulation AB promulgated by the Commission
      under the Exchange Act (17 C.F.R. §§ 229.1100 - 229.1123), as such may be
      amended from time to time and subject to such clarification and interpretive
      advice as may be issued by the staff of the Commission from time to time.
      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 the reasonable
      requests made by the Trustee or the Depositor for delivery of such additional
      or
      different information as the Trustee or the Depositor 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
      parties’ obligations as are necessary to accommodate evolving interpretations of
      the provisions of Regulation AB.

     

    SECTION
      3.10. Indemnification
      by the Trustee.

     

    (a) The
      Trustee agrees to indemnify the Depositor, its officers, directors, agents
      and
      employees for, and to hold them harmless against, any losses, damages,
      penalties, fines, forfeitures, legal fees and expenses and related costs,
      judgments, and any other costs, fees and expenses (except as otherwise provided
      herein with respect to expenses) (including reasonable legal fees and
      disbursements of counsel) incurred on their part (i) in connection with, arising
      out of, or relating to the Trustee’s failure to file a Form 10-D or Form 10-K in
      accordance with Section 3.07 or any failure by the Trustee to deliver any
      information, report or certification, when and as required under Section 8.01,
      (ii) by reason of the Trustee’s willful misfeasance, reckless disregard, bad
      faith or negligence in the performance of such obligations pursuant to Section
      3.07 or (iii) any material misstatement or omission made in the Trustee
      Certification; provided,
      in each
      case, that with respect to any such claim or legal action (or pending or
      threatened claim or legal action), such indemnified Person shall have given
      the
      Trustee written notice thereof promptly after such indemnified Person shall
      have
      with respect to such claim or legal action knowledge thereof; provided,
      however,
      that
      such agreement by the Trustee to indemnify and hold harmless such Person shall
      not include or apply to any such losses, damages, penalties, fines, forfeitures,
      legal fees or expenses or related costs, judgments, or any other costs, fees
      or
      expenses arising from, caused by or resulting from the actions or omissions
      of
      any Person other than the Trustee, including without limitation the negligence,
      willful misfeasance, bad faith or reckless disregard of duties or obligations
      under or pursuant to this Agreement, the Servicing Agreement or other applicable
      agreement by the Depositor or the Servicer, including without limitation any
      erroneous, inaccurate or incomplete information or certification provided to
      the
      Trustee by the Depositor or the Servicer in connection with, or any failure
      or
      delay on the part of the Depositor or the Servicer to provide any information
      or
      certification necessary to, the Trustee’s performance under Section 3.07. If the
      indemnification provided for in this Section 3.10 is unavailable or insufficient
      to hold harmless such indemnified Persons, then the Trustee shall contribute
      to
      the amount paid or payable by such indemnified Persons as a result of the
      losses, claims, damages or liabilities of such indemnified Persons in such
      proportion as is appropriate to reflect the relative fault of the Depositor
      on
      the one hand and the Trustee on the other. This indemnity shall survive the
      resignation or removal of the Trustee and the termination of this Agreement.
      Notwithstanding the foregoing, in no event shall the Trustee be liable for
      any
      consequential, indirect or punitive damages.

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(b) The
      Trust
      Fund will indemnify any Indemnified Person for any loss, liability or expense
      of
      any Indemnified Person not otherwise referred to in Subsection (a)
      above.

     

    SECTION
      3.11. [Reserved].

     

    SECTION
      3.12. Reporting
      Requirements of the Commission.

     

    To
      the
      extent that, following the Closing Date, the content of Forms 8-K, 10-D, 10-K,
      15 or other Forms required by the Exchange Act and the Rules and Regulations
      of
      the Commission and the time by which such Forms are required to be filed,
      differs from the provisions of this Agreement, the Trustee, the Depositor and
      the Seller hereby agree that each shall reasonably cooperate to amend the
      provisions of this Agreement (in accordance with Section 12.01) in order to
      comply with such amended reporting requirements and such amendment of this
      Agreement. Notwithstanding the foregoing, the Trustee shall be obligated to
      enter into any amendment pursuant to this Section that adversely affects its
      obligations or immunities under this Agreement.

     

    ARTICLE
      IV

     

    ACCOUNTS

     

    SECTION
      4.01. Servicing
      Accounts.

     

    (a) The
      Servicer shall establish and maintain one or more custodial accounts (the
“Servicing
      Accounts”)
      in
      accordance with the 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 Servicing
      Agreement) of receipt all collections of principal and interest on any Mortgage
      Loan and with respect to any REO Property received by the Servicer, including
      Principal Prepayments, Prepayment Penalty Amounts, Insurance Proceeds,
      Liquidation Proceeds, Recoveries and advances made from the Servicer’s own funds
      (less, in the case of the Servicer, the applicable servicing compensation,
      in
      whatever form and amounts as permitted by the Servicing Agreement) and all
      other
      amounts to be deposited in each such Servicing Account. The Servicer is hereby
      authorized to make withdrawals from and deposits to the Servicing Account for
      purposes required or permitted by this Agreement and the Servicing Agreement.
      For the purposes of this Agreement, Servicing Accounts shall also include such
      other accounts as the Servicer maintains for the escrow of certain payments,
      such as taxes and insurance, with respect to certain Mortgaged Properties.
      The
      Servicing Agreement sets forth the criteria for the segregation, maintenance
      and
      investment of each Servicing Account, the contents of which are acceptable
      to
      the parties hereto as of the date hereof and changes to which shall not be
      made
      unless such changes are made in accordance with the provisions of Section 12.01
      hereof. 

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(b) To
      the
      extent provided in the Servicing Agreement and subject to this Article IV,
      on or
      before each Servicer Remittance Date, the Servicer shall withdraw or shall
      cause
      to be withdrawn from the Servicing Accounts and shall immediately remit or
      cause
      to be remitted to the Trustee for deposit into 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 of the Mortgage Loans it is servicing:

     

    (i) Monthly
      Payments on the Mortgage Loans received or any related portion thereof advanced
      by the Servicer pursuant to the Servicing Agreement which were due on or before
      the related Due Date, net of the amount thereof comprising the Servicing Fees
      and Lender Paid Mortgage Insurance Fees, if any;

     

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

     

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

     

    (iv) Prepayment
      Penalty Amounts, if any; and

     

    (v) any
      amount to be used as a delinquency advance or to pay any Interest Shortfalls,
      in
      each case, as required to be paid under the Servicing Agreement. 

     

    (c) Withdrawals
      may be made from a Servicing Account only to make remittances as provided in
      Section 4.01(b), to reimburse the Servicer for Advances which have been
      recovered by subsequent collection 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, or as otherwise provided in
      the
      Servicing Agreement. As provided in Section 4.01(b), certain amounts otherwise
      due to the Servicer may be retained by them and need not be remitted to the
      Trustee.

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SECTION
      4.02. Distribution
      Account. 

     

    (a) The
      Trustee shall establish and maintain an account, for the benefit of the
      Certificateholders and the Certificate Insurer, as a segregated, non-interest
      bearing trust account which shall be an Eligible Account (the “Distribution
      Account”).
      The
      Distribution Account shall constitute a trust account of the Trust Fund
      segregated on the books of the Trustee and held by the Trustee 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 Trustee (whether made
      directly, or indirectly through a liquidator or receiver of the Trustee). All
      Permitted Investments shall mature or be subject to redemption or withdrawal
      on
      or before, and shall be held until, the immediately succeeding Distribution
      Date. The Trustee or their affiliates are permitted to receive additional
      compensation that could be deemed to be in their economic self-interest for
      (i)
      serving as investment adviser, administrator, servicing agent, custodian or
      sub-custodian with respect to certain of the Permitted Investments, (ii) using
      affiliates to effect transactions in certain Permitted Investments and (iii)
      effecting transactions in certain Permitted Investments. The
      Trustee shall, promptly upon receipt from the Servicer on the Servicer
      Remittance Date deposit into the Distribution Account and retain on deposit
      until the related Distribution Date, the following amounts:

     

    (i) any
      amounts withdrawn from a Servicing Account pursuant to Section 4.01(b) and
      the
      Servicing Agreement and remitted to the Trustee; 

     

    (ii) any
      amounts required to be deposited by the Trustee with respect to the Mortgage
      Loans pursuant to this Agreement;

     

    (iii) the
      Purchase Price with respect to any Mortgage Loans purchased by the Seller or
      the
      Originator under this Agreement or the Purchase Agreement, as applicable, any
      Substitution Adjustments pursuant to Section 2.03 of this Agreement, any
      purchase price paid by any NIMS Insurer for the purchase of any Distressed
      Mortgage Loan under Section 10.03, and all proceeds of any Mortgage Loans or
      property acquired with respect thereto purchased by the Terminator pursuant
      to
      Section 10.01;

     

    (iv) any
      amounts required to be deposited with respect to losses on investments of
      deposits in the Distribution Account; and

     

    (v) any
      other
      amounts so 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 Trustee
      in
      trust for the benefit of the Certificateholders and the Certificate Insurer
      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) late payment charges or assumption fees, tax service fees,
      statement account charges or payoff charges, substitution, satisfaction, release
      and other like fees and charges and (ii) the items enumerated in Subsections
      4.03(a)(i) through (viii) and (xii) with respect to the Servicer, need not
      be
      remitted by the Servicer to the Trustee. In the event that the Servicer has
      remitted to the Trustee any amount not required to be credited to the
      Distribution Account, the Servicer may at any time, by delivery of a written
      request signed by a Servicing Officer of the deposited in error, direct the
      Trustee to withdraw such amount from the Distribution Account for repayment
      to
      the Servicer. In the event that the Trustee has deposited to the Distribution
      Account any amount not required to be credited thereto, it may at any time,
      withdraw such amount from the Distribution Account.

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(c) The
      amount at any time credited to the Distribution Account shall, if invested,
      be
      invested at the direction of the Trustee, in the name of the Trustee, or its
      nominee, for the benefit of the Certificateholders, in Permitted Investments
      as
      follows. All Permitted Investments and investment income with respect to the
      investment of funds in the Distribution Account shall be for the benefit of
      the
      Trustee. All Permitted Investments shall mature or be subject to redemption
      or
      withdrawal on or before, and shall be held until, the Business Day prior to
      the
      next succeeding Distribution Date (except that if such Permitted Investment
      is
      an obligation of the Trustee, then such Permitted Investment shall mature not
      later than such applicable Distribution Date). Any and all investment earnings
      from such Permitted Investments shall be paid to the Trustee, and the risk
      of
      loss of moneys resulting from such investments shall be borne by and be the
      risk
      of the Trustee. The Trustee shall deposit the amount of any such loss in the
      Distribution Account within two Business Days of receipt of notification of
      such
      loss but not later than the next succeeding Distribution Date.

     

    SECTION
      4.03. Permitted
      Withdrawals and Transfers from the Distribution Account.

     

    (a) The
      Trustee shall, from time to time, withdraw or transfer funds from the
      Distribution Account to the Servicer, to the Certificate Insurer or to itself
      for the following purposes:

     

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

     

    (ii) to
      reimburse the Servicer from Insurance Proceeds or Liquidation Proceeds relating
      to a particular Mortgage Loan for amounts expended by the 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;

     

    (iii) to
      reimburse the Servicer from Insurance Proceeds relating to a particular Mortgage
      Loan for insured expenses incurred with respect to such Mortgage Loan and to
      reimburse the Servicer from Liquidation Proceeds from a particular Mortgage
      Loan
      for Liquidation Expenses incurred with respect to such Mortgage Loan;

     

    (iv) to
      pay
      the Servicer, as appropriate, from Liquidation Proceeds or Insurance Proceeds
      received in connection with the liquidation of any Mortgage Loan, the amount
      which the Servicer would have been entitled to receive under subclause (xii)
      of
      this Subsection 4.03(a) as servicing compensation on account of each defaulted
      scheduled payment on such Mortgage Loan if paid in a timely manner by the
      related Mortgagor;

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(v) to
      pay
      the Servicer from the Purchase Price for any Mortgage Loan, the amount which
      the
      Servicer would have been entitled to receive under subclause (xii) of this
      Subsection 4.03(a) as servicing compensation;

     

    (vi) to
      reimburse the Servicer for servicing related advances of funds, the right to
      reimbursement pursuant to this subclause being limited to amounts received
      on
      the related Mortgage Loan (including, for this purpose, the Purchase Price
      therefor, Insurance Proceeds and Liquidation Proceeds) which represent late
      recoveries of the payments for which such servicing advances were
      made;

     

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

     

    (viii) to
      pay
      the Servicer its monthly Servicing Fee and any other servicing compensation
      payable pursuant to the Servicing Agreement;

     

    (ix) to
      pay
      the Trustee any investment income;

     

    (x) [reserved]

     

    (xi) to
      pay
      the Custodial Fee and any other fees, expenses or amounts payable to the Bank
      of
      New York as Custodian;

     

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

     

    (xiii) to
      reimburse the Trustee for expenses, costs and liabilities incurred by or
      reimbursable to it pursuant to Sections 8.05, 8.17 or 8.18 (including those
      related the Custodial Agreement);

     

    (xiv) to
      reimburse the Administrator for expenses, costs and liabilities incurred by
      or
      reimbursable to it pursuant to Section 8.19;

     

    (xv) to
      pay
      the Certificate Insurer, the Class 2A-1C2 Premium Amount;

     

    (xvi) to
      remove
      amounts deposited in error;

     

    (xvii) to
      reimburse the Administrator for expenses, costs and liabilities incurred by
      or
      reimbursable to it as a result of the performance of its duties under the Yield
      Maintenance Allocation Agreement, the Yield Maintenance Agreement and the Class
      2A-1C2 Yield Maintenance Agreement pursuant to Section 8.19; and

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

     

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

     

    (c) In
      order
      to comply with its duties under the USA PATRIOT Act of 2001, the Trustee shall
      obtain and verify certain information and documentation from the other parties
      hereto, including, but not limited to, each such party’s name, address and other
      identifying information.

     

    (d) On
      each
      Distribution Date, the Trustee, as Paying Agent, shall withdraw funds on deposit
      in the Distribution Account to the extent of the aggregate Available Funds
      and
      distribute such amounts to the Holders of the Certificates and any other parties
      entitled thereto in accordance with Section 5.01.

     

    SECTION
      4.04. [Reserved].

     

    SECTION
      4.05. Certificate
      Insurance Policy.

     

    (a) On
      or
      prior to the Closing Date, the Trustee, on behalf of the Trust Fund, shall
      cause
      to be established and maintained the Policy Account, into which amounts received
      by the Trustee pursuant to the Certificate Insurance Policy shall be deposited
      for the benefit of the Insured Certificates. Amounts on deposit in the Policy
      Account shall not be invested and shall not be held in an interest-bearing
      account.

     

    (b) As
      soon
      as possible, and in no event later than 12:00 noon New York time on the second
      Business Day immediately preceding any Distribution Date, the Trustee shall
      furnish the Certificate Insurer with a completed Notice in the form set forth
      as
      Exhibit A to the Endorsement to the Certificate Insurance Policy in the event
      that (a) the related Available Funds (other than any amounts in respect of
      Insured Amounts) are insufficient to pay the Monthly Interest Distributable
      Amount (net of any Net Interest Shortfalls, Basis Risk Shortfalls or Net
      Deferred Interest) with respect to the Holders of the Insured Certificates
      on
      such Distribution Date or (b) a Realized Loss is to be allocated to the Class
      2A-1C2 Certificates on such Distribution Date; provided,
      however,
      that if
      such Distribution Date is the Final Distribution Date, the Notice shall also
      include the aggregate outstanding Class Principal Balances on each Class of
      the
      Insured Certificates, after giving effect to all payments of principal on the
      Insured Certificates on such Final Distribution Date, other than pursuant to
      the
      Certificate Insurance Policy. The Notice shall specify the amount of Insured
      Amounts for each Class of Insured Certificate and shall constitute a claim
      for
      an Insured Amount pursuant to the Certificate Insurance Policy.

     

    (c) Upon
      receipt of an Insured Amount from the Certificate Insurer on behalf of the
      Holders of the Insured Certificates, the Trustee shall deposit such Insured
      Amount into the Policy Account. All such amounts on deposit in the Policy
      Account shall remain uninvested. On or prior to each Distribution Date, the
      Trustee shall transfer amounts on deposit in the Policy Account to the
      Distribution Account and shall distribute such Insured Amounts to the Insured
      Certificates pursuant to Section 5.01.

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    The
      Trustee shall include on each Distribution Date any Insured Amounts received
      by
      it from or on behalf of the Certificate Insurer for such Distribution Date
      (i)
      in the amount distributed to the Holders of the Insured Certificates pursuant
      to
      Section 5.01 and (ii) in the amount deemed to have been distributed to the
      Class
      2A-1C2 regular interests and deposited for their benefit into the Distribution
      Account. If on any Distribution Date the Trustee determines that the Certificate
      Insurer has paid more under the Certificate Insurance Policy than is required
      by
      the terms thereof, the Trustee shall promptly return the excess amount to the
      Certificate Insurer.

     

    Funds
      received by the Trustee as a result of any claim under the Certificate Insurance
      Policy shall be used solely for payment to the Holders of the Insured
      Certificates and may not be applied for any other purpose, including, without
      limitation, satisfaction of any costs, expenses or liabilities of the Trustee
      or
      the Trust Fund. Any funds remaining in the Policy Account on the first Business
      Day after each Distribution Date shall be remitted promptly to the Certificate
      Insurer. The Trustee shall keep complete and accurate records in respect of
      (i)
      all funds remitted to it by the Certificate Insurer and deposited into the
      Policy Account and (ii) the allocation of such funds to (A) payments of interest
      on and principal in respect of the Insured Certificates and (B) the amount
      of
      funds available to make distributions on the Insured Certificates. The
      Certificate Insurer shall have the right to inspect such records at reasonable
      times during normal business hours upon three Business Days’ prior written
      notice to the Trustee.

     

    (d) The
      Trustee shall (i) receive as attorney-in-fact of the Holders of the Insured
      Certificates any Insured Amount or Preference Claim delivered to it by the
      Certificate Insurer for payment to such Holders and (ii) distribute any such
      Insured Amount to such Holder as set forth in Section 5.01. Anything herein
      to
      the contrary notwithstanding, solely for purposes of determining the Certificate
      Insurer’s rights, as applicable, as subrogee for payments distributable pursuant
      to the Certificate Insurance Policy, Insured Amounts disbursed by the Trustee
      from proceeds of the Certificate Insurance Policy shall not be considered
      payment by the Trust Fund with respect to the Insured Certificates, nor shall
      such disbursement of Insured Amounts discharge the obligations of the Trust
      Fund
      with respect to the amounts thereof, and the Certificate Insurer shall become
      owner of such amounts to the extent covered by such Insured Amounts as the
      deemed assignee of such Holders. The Trustee hereby agrees on behalf of the
      Holders of the Insured Certificates (and each such Holder, by its acceptance
      of
      its Insured Certificate, hereby agrees) for the benefit of the Certificate
      Insurer that, to the extent the Certificate Insurer pays any Insured Amount
      or
      Preference Claim, either directly or indirectly (as by paying through the
      Trustee), to the Holders of the Insured Certificates, the Certificate Insurer
      will be entitled to be subrogated to any rights of such Holder to receive the
      amounts for which such Insured Amount or Preference Claim was paid, to the
      extent of such payment, and will be entitled to receive the Certificate Insurer
      Reimbursement Amount as set forth in Section 5.01.

     

    In
      the
      event the Trustee receives a certified copy of an order of the appropriate
      court
      that any scheduled payment of principal or interest on an Insured Certificate
      has been voided in whole or in part as a preference payment under applicable
      bankruptcy law, the Trustee shall (i) promptly notify the Certificate Insurer
      and (ii) comply with the provisions of the Certificate Insurance Policy, to
      obtain payment by the Certificate Insurer of such voided scheduled payment.
      The
      Trustee shall furnish to the Certificate Insurer its records listing the
      payments on the affected Insured Certificates, if any, that have been made
      by
      the Trustee and subsequently recovered from the affected Holders, and the dates
      on which such payments were made by the Trustee.

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    (e) At
      the
      end of the Term of the Certificate Insurance Policy (as defined in the
      Certificate Insurance Policy), the Trustee shall return the Certificate
      Insurance Policy to the Certificate Insurer for cancellation.

     

    (f) The
      Trustee shall promptly notify the Certificate Insurer of either of the following
      as to which it has actual knowledge: (A) the commencement of any proceeding
      by
      or against the Depositor commenced under the United States bankruptcy code
      or
      any other applicable bankruptcy, insolvency, receivership, rehabilitation or
      similar law (an “Insolvency Proceeding”) and (B) the making of any claim in
      connection with any Insolvency Proceeding seeking the avoidance as a
      preferential transfer (a “Preference Claim”) of any distribution made with
      respect to the Insured Certificates as to which it has actual knowledge. Each
      Holder of an Insured Certificate, by its purchase of such Insured Certificates,
      and the Trustee each hereby agree that the Certificate Insurer (so long as
      no
      Certificate Insurer Default exists) may at any time during the continuation
      of
      any proceeding relating to a Preference Claim direct all matters relating to
      such Preference Claim, including, without limitation, (i) the direction of
      any
      appeal of any order relating to any Preference Claim and (ii) the posting of
      any
      surety, supersedes or performance bond pending any such appeal. In addition
      and
      without limitation of the foregoing, the Certificate Insurer shall be subrogated
      to the rights of the Trustee and each Holder of an Insured Certificate in the
      conduct of any Preference Claim, including, without limitation, all rights
      of
      any party to an adversary proceeding action with respect to any court order
      issued in connection with any such Preference Claim.

     

    (g) With
      respect to this Section 4.05, the terms “receipt” and “received” shall mean
      actual delivery to the Certificate Insurer, if any, prior to 12:00 p.m., New
      York time, on a Business Day; delivery either on a day that is not a Business
      Day or after 12:00 p.m., New York time, shall be deemed to be “received” on the
      next succeeding Business Day. If any notice or certificate given under the
      Certificate Insurance Policy by the Trustee is not in proper form or is not
      properly completed, executed or delivered, it shall be deemed not to have been
      “received.” The Certificate Insurer shall promptly so advise the Trustee and the
      Trustee may submit an amended notice.

     

    (h) All
      references herein to the ratings assigned to the Insured Certificates and to
      the
      interests of any Certificateholders therein shall be without regard to the
      Certificate Insurance Policy.

     86

  

  

     

    ARTICLE
      V

     

    FLOW
      OF FUNDS

     

    SECTION
      5.01. Distributions.

     

    (a) Distributions
      From Available Funds.
      On each
      Distribution Date and after making any withdrawals from the Distribution Account
      pursuant to Section 4.03(a), the Trustee, as Paying Agent, shall withdraw funds
      on deposit in the Distribution Account to the extent of Available Funds for
      each
      Loan Group for such Distribution Date and, based on the Distribution Date
      Statement, make the following disbursements and transfers as set forth
      below:

     

    (i) From
      the
      Interest Remittance Amount for the related Loan Group, the Available Funds
      for
      each Loan Group shall be distributed on each Distribution Date other than on
      the
      Distribution Date following the optional purchase of the Mortgage Loans by
      the
      Terminator pursuant to Section 10.01(a) in the following order of
      priority:

     

    
      	 	
              (A)

            	
              on
                the Distribution Date commencing in October 2016 and on each Distribution
                Date thereafter until the Final Maturity Reserve Termination Date,
                for
                deposit in the Final Maturity Reserve Account, the Final Maturity
                Reserve
                Amount;

            

    

     

    
      	 	
              (B)

            	
              from
                the remaining Interest Remittance Amount for the related Loan Group
                to the
                holders of the Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2,
                Class
                2A-1C1 and Class 2A-1C2, as applicable, the related Monthly Interest
                Distributable Amount and the related Unpaid Interest Shortfall Amount,
                if
                any, to which each such Class is entitled, in each case, on a pro
                rata
                basis to each such Class in the related Certificate Group based on
                the
                amounts due such Class; provided,
                that if the Interest Remittance Amount for Loan Group 1 is insufficient
                to
                pay the Class 1A-1A Certificates, the related Monthly Interest
                Distributable Amount, the Trustee shall withdraw the amount of such
                deficiency shortfalls from the remaining Interest Remittance Amount
                for
                Loan Group 2 after distributions are made of the Monthly Interest
                Distributable Amount to the Class 2A-1A, Class 2A-1B1, Class 2A-1B2,
                Class
                2A-1C1 and Class 2A-1C2 Certificates, and if the Interest Remittance
                Amount for Loan Group 2 is insufficient to pay the Class 2A-1A, Class
                2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates
                the
                related Monthly Interest Distributable Amount, the Trustee shall
                withdraw
                the amount of such deficiency shortfalls from the remaining Interest
                Remittance Amount for Loan Group 1 after distributions are made of
                the
                Monthly Interest Distributable Amount to the Class 1A-1A
                Certificates;

            

    

     

    
      	 	
              (C)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups,
                reimbursement amounts owed to the Certificate
                Insurer;

            

    

     

    
      	 	
              (D)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-1 Certificates, the related Monthly Interest
                Distributable Amount;

            

    

87

  

  

     

    
      	 	
              (E)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-2 Certificates, the related Monthly Interest
                Distributable Amount; 

            

    

     

    
      	 	
              (F)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-3 Certificates, the related Monthly Interest
                Distributable Amount;

            

    

     

    
      	 	
              (G)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-4 Certificates, the related Monthly Interest
                Distributable Amount;

            

    

     

    
      	 	
              (H)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-5 Certificates, the related Monthly Interest
                Distributable Amount; 

            

    

     

    
      	 	
              (I)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-6 Certificates, the related Monthly Interest
                Distributable Amount;

            

    

     

    
      	 	
              (J)

            	
              from
                the remaining Interest Remittance Amounts for both Loan Groups, to
                the
                holders of the Class B-7 Certificates, the related Monthly Interest
                Distributable Amount; and

            

    

     

    
      	 	
              (K)

            	
              for
                application as part of Net Monthly Excess Cashflow for such Distribution
                Date, as described under Section 5.01(a)(iv)
                below;

            

    

     

    On
      any
      Distribution Date, any shortfalls resulting from the application of the Relief
      Act and any Interest Shortfalls to the extent not covered by Compensating
      Interest Payments will be allocated to the Monthly Interest Distributable
      Amounts with respect to the LIBOR Certificates on a pro
      rata basis,
      based on the respective amounts of interest accrued on such Certificates for
      such Distribution Date. The holders of the LIBOR Certificates will not be
      entitled to reimbursement for any such interest shortfalls.

     

    (ii) On
      each
      Distribution Date (a) prior to the applicable Stepdown Date or (b) on which
      a
      Trigger Event is in effect, distributions in respect of principal to the extent
      of the Principal Distribution Amount for each Loan Group will be distributed
      in
      the following amounts and order of priority:

     

    
      	 	
              (A)

            	
              from
                the related Principal Distribution Amount for the related Loan Group,
                concurrently as follows:

            

    

     

    
      	 	
              (1)

            	
              to
                the holders of the Class 1A-1A Certificates, the Principal Distribution
                Amount for Loan Group 1, based on its Certificate Principal Balance
                immediately prior to such Distribution Date, until its Certificate
                Principal Balance is reduced to zero;
                and

            

    

88

  

  

     

    
      	 	
              (2)

            	
              to
                the holders of the Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class
                2A-1C1
                and Class 2A-1C2 Certificates, the Principal Distribution Amount
                for Loan
                Group 2, pro
                rata
                based on their respective Certificate Principal Balances immediately
                prior
                to such Distribution Date, until their respective Certificate Principal
                Balances are reduced to zero;

            

    

     

    
      	 	
              (B)

            	
              to
                the Certificate Insurer, any Certificate Insurer Reimbursement Amounts
                due
                to the Certificate Insurer;

            

    

     

    
      	 	
              (C)

            	
              from
                the Principal Distribution Amount for both Loan
                Groups

            

    

     

    
      	 	
              (1)

            	
              to
                the holders of the Class B-1 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to
                zero;

            

    

     

    
      	 	
              (2)

            	
              to
                the holders of the Class B-2 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to zero;

            

    

     

    
      	 	
              (3)

            	
              to
                the holders of the Class B-3 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to
                zero;

            

    

     

    
      	 	
              (4)

            	
              to
                the holders of the Class B-4 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to
                zero;

            

    

     

    
      	 	
              (5)

            	
              to
                the holders of the Class B-5 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to zero;

            

    

     

    
      	 	
              (6)

            	
              to
                the holders of the Class B-6 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to
                zero;

            

    

     

    
      	 	
              (7)

            	
              to
                the holders of the Class B-7 Certificates, until the Certificate
                Principal
                Balance thereof has been reduced to zero;
                and

            

    

     

    
      	 	
              (8)

            	
              for
                application as part of Net Monthly Excess Cashflow for such Distribution
                Date, as described under Section 5.01(a)(iv)
                below.

            

    

89

  

  

    
       

      (iii) On
        each
        Distribution Date (a) on or after the applicable Stepdown Date and (b) on
        which
        a Trigger Event is not in effect, distributions in respect of principal to
        the
        extent of the Principal Distribution Amount for each Loan Group will be
        distributed in the following amounts and order of priority:

       

    

    
      	 	
              (A)

            	
              from
                the Senior Principal Distribution Amount for the related Loan Group,
                concurrently as follows:

            

    

     

    
      	 	
              (1)

            	
              to
                the holders of the Class 1A-1A Certificates, the Principal Distribution
                Amount for Loan Group 1, based on its Certificate Principal Balance
                immediately prior to such Distribution Date, until its Certificate
                Principal Balance is reduced to zero;
                and

            

    

     

    
      	 	
              (2)

            	
              to
                the holders of the Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class
                2A-1C1
                and Class 2A-1C2 Certificates, the Principal Distribution Amount
                for Loan
                Group 2, pro
                rata
                based on their respective Certificate Principal Balances immediately
                prior
                to such Distribution Date, until their respective Certificate Principal
                Balances are reduced to zero;

            

    

     

    
      	 	
              (B)

            	
              to
                the Certificate Insurer any Certificate Insurer Reimbursement Amounts
                due
                to the Certificate Insurer; and

            

    

     

    
      	 	
              (C)

            	
              from
                the Principal Distribution Amount for both Loan
                Groups

            

    

     

    
      	 	
              (1)

            	
              to
                the holders of the Class B-1 Certificates, the Class B-1 Principal
                Distribution Amount;

            

    

     

    
      	 	
              (2)

            	
              to
                the holders of the Class B-2 Certificates, the Class B-2 Principal
                Distribution Amount

            

    

     

    
      	 	
              (3)

            	
              to
                the holders of the Class B-3 Certificates, the Class B-3 Principal
                Distribution Amount;

            

    

     

    
      	 	
              (4)

            	
              to
                the holders of the Class B-4 Certificates, the Class B-4 Principal
                Distribution Amount;

            

    

     

    
      	 	
              (5)

            	
              to
                the holders of the Class B-5 Certificates, the Class B-5 Principal
                Distribution Amount; 

            

    

     

    
      	 	
              (6)

            	
              to
                the holders of the Class B-6 Certificates, the Class B-6 Principal
                Distribution Amount

            

    

     

    
      	 	
              (7)

            	
              to
                the holders of the Class B-7 Certificates, the Class B-7 Principal
                Distribution Amount; and

            

    

      90

  

  

     

    
      	 	
              (8)

            	
              for
                application as part of Net Monthly Excess Cashflow for such Distribution
                Date, as described under Section 5.01(a)(iv)
                below.

            

    

     

    (iv) On
      each
      Distribution Date, other than the Distribution Date following the optional
      purchase of the Mortgage Loans pursuant to Section 10.01, the Net Monthly Excess
      Cashflow shall be distributed as follows:

     

    
      	 	
              (A)

            	
              to
                the Holders of the Class or Classes of Certificates then entitled
                to
                receive distributions in respect of principal, in an amount equal
                to the
                principal portion of Realized Losses previously allocated to reduce
                the
                Certificate Principal Balance of such certificates, pro
                rata,
                to each such Class based on the Class Principal Balance of each such
                Certificate prior to such Distribution Date as a distribution in
                respect
                of principal, but only to the extent of Recoveries for that Distribution
                Date:

            

    

     

    
      	 	
              (B)

            	
              as
                part of the Principal Distribution Amount, to pay to the holders
                of the
                Senior Certificates and the Subordinate Certificates in reduction
                of their
                certificate principal balances, the principal portion of Realized
                Losses
                incurred on the Mortgage Loans in the preceding calendar month;
                pro
                rata,
                to each such Class based on the Class Principal Balance of each such
                Certificate prior to such Distribution Date as a distribution in
                respect
                of principal;

            

    

     

    
      	 	
              (C)

            	
              to
                the Holders of the Class or Classes of Certificates then entitled
                to
                receive distributions in respect of principal, in an amount equal
                to any
                Extra Principal Distribution Amount, pro
                rata,
                to each such Class based on the Class Principal Balance of each such
                Certificate prior to such Distribution Date as a distribution in
                respect
                of principal;

            

    

     

    
      	 	
              (D)

            	
              to
                the Certificate Insurer, any unpaid remaining Certificate Insurer
                Reimbursement Amounts;

            

    

     

    
      	 	
              (E)

            	
              to
                the Holders of the Senior Certificates and the Subordinate Certificates,
                the amount of any Interest Shortfalls allocated thereto for such
                Distribution Date, on a pro
                rata
                basis based on Interest Shortfalls allocated thereto, to the extent
                not
                covered by the Servicing Fee on that Distribution Date;
                

            

    

     

    
      	 	
              (F)

            	
              to
                the Holders of the Senior Certificates and the Subordinate Certificates,
                any Interest Shortfalls remaining unpaid from prior Distribution
                Dates
                together with interest thereon, on a pro
                rata
                basis based on unpaid Interest Shortfalls previously allocated
                thereto;

            

    

     91

  

  

     

    
      	 	
              (G)

            	
              to
                the Holders of the Senior Certificates, pro
                rata,
                and then to the Holders of the Subordinate Certificates, sequentially,
                in
                that order, the amount of any Basis Risk Shortfall remaining unpaid
                as of
                such Distribution Date;

            

    

     

    
      	 	
              (H)

            	
              to
                the Holders of the Senior Certificates and the Subordinate Certificates,
                in an amount equal to any Interest Shortfalls resulting from Relief
                Act
                Reductions for such Distribution Date, pro
                rata,
                based on the amount of Interest Shortfalls resulting from Relief
                Act
                Reductions allocated to each Class for such Distribution
                Date;

            

    

     

    
      	 	
              (I)

            	
              to
                the Holders of the Senior Certificates, pro
                rata,
                and then to the Holders of the Subordinate Certificates, sequentially,
                in
                that order, the principal portion of any Allocated Realized Loss
                Amounts
                remaining unreimbursed;

            

    

     

    
      	 	
              (J)

            	
              to
                the Basis Risk Reserve Fund, any Required Reserve Fund
                Deposit;

            

    

     

    
      	 	
              (K)

            	
              to
                the Holders of the Class C Certificates, the Class C Distributable
                Amount
                on the final Distribution Date; and

            

    

     

    
      	 	
              (L)

            	
              to
                the Holder of the Class R Certificate, any Available Funds, other
                than any
                portion thereof in respect of Premium Proceeds, then
                remaining.

            

    

     

    (v) On
      the
      Distribution Date following the optional purchase of the Mortgage Loans pursuant
      to Section 10.01, Available Funds will be applied in the amounts and in the
      order specified above, except, no amounts will distributed pursuant to Sections
      5.01(a)(iv)(K) and 5.01(a)(iv)(L) above, and the portion of Available Funds
      remaining after the distribution pursuant to Sections 5.01(a)(i), 5.01(a)(ii),
      5.01(a)(iii) and 5.01(a)(iv) will be applied in the following
      order:

     

    
      	 	
              (A)

            	
              in
                the amounts and the priority set forth in Section
                5.01(a)(ii);

            

    

     

    
      	 	
              (B)

            	
              to
                the Holders of the Class C Certificates, the Class C Distributable
                Amount;
                and

            

    

     

    
      	 	
              (C)

            	
              to
                the Holder of the Class R Certificate, any Available Funds, other
                than any
                portion thereof in respect of Premium Proceeds, then
                remaining.

            

    

     

    (vi) With
      respect to any Distribution Date and Insured Amounts, the Trustee shall make
      payments pursuant to Sections 5.01(a)(i), 5.01(a)(ii) and 5.01(a)(iii), after
      application of Available Funds, with respect to the Class 2A-1C2 Certificates,
      from the amount received by the Trustee under the Certificate Insurance Policy
      for such Distribution Date pursuant to Section 4.02. Funds received by the
      Trustee as a result of any claim under the Certificate Insurance Policy shall
      be
      applied solely to payments to the Class 2A-1C2 Certificateholders and may not
      be
      applied to satisfy any other Classes of Certificates or costs, expenses or
      liabilities of the Servicer, the Trustee or the Trust Fund.

      92

  

  

     

    (b) Amounts
      to be paid to the Holders of a Class of Certificates shall be payable with
      respect to all Certificates of that Class, pro
      rata,
      based
      on the Certificate Principal Balance of each Certificate of that
      Class.

     

    (c) On
      each
      Distribution Date, the Monthly Interest Distributable Amounts for the Classes
      of
      Senior Certificates and Subordinate Certificates on such Distribution Date
      shall
      be reduced proportionately, based on (A) in the case of the Senior Certificates,
      the Monthly Interest Distributable Amount to which they would otherwise be
      entitled and (B) in the case of the Subordinate Certificates, interest accrued
      at the related Pass-Through Rate on the related Apportioned Principal Balance
      of
      each such Class, by Net Interest Shortfalls with respect to the related Loan
      Group.

     

    (d) Notwithstanding
      the priorities and allocations set forth in Section 5.01(a) above, if on any
      Distribution Date on which the Senior Certificates related to a Loan Group
      constitute an Undercollateralized Group, all amounts otherwise distributable
      as
      Available Funds on the Subordinate Certificates, in reverse order of priority
      (or, following the Senior Credit Support Depletion Date, such other amounts
      described in the immediately following sentence), will be distributed as
      principal to the Senior Certificates of such Undercollateralized Group in the
      same order and priority and allocation provided in Section 5.01(a), first,
      up
      to the
      sum of the Accrued Interest Amount and the Principal Deficiency Amount for
      the
      Undercollateralized Group (such distribution, an “Undercollateralization
      Distribution”)
      and
second,
      to pay
      to the Subordinate Certificates and the Residual Certificates in the same order
      and priority as provided in Section 5.01(a)(ii), (iii) and (iv). In the event
      that the Senior Certificates related to a Loan Group constitute an
      Undercollateralized Group on any Distribution Date following the Senior Credit
      Support Depletion Date, Undercollateralization Distributions will be made from
      any Available Funds from the Loan Group not related to an Undercollateralized
      Group remaining after all required amounts have been distributed to the related
      Class of Senior Certificates related to such other Loan Group.
      Undercollateralization Distributions will be applied first
      to pay
      accrued but unpaid interest, if any, and second
      to pay
      principal in the same priority and allocation provided in Section
      5.01(a).

     

    (e) Distributions
      on Physical Certificates.
      The
      Trustee shall make distributions in respect of a Distribution Date to each
      Certificateholder of record on the related Record Date (other than as provided
      in Section 10.01 hereof respecting the final distribution), in the case of
      Certificateholders of the Physical Certificates, by check or money order mailed
      to such Certificateholder at the address appearing in the Certificate Register,
      or by wire transfer. Distributions among Certificateholders of a Class shall
      be
      made in proportion to the Percentage Interests evidenced by the Certificates
      of
      that Class held by such Certificateholders.

     

    (f) Distributions
      on Book-Entry Certificates.
      Each
      distribution with respect to a Book-Entry Certificate shall be paid to the
      Depository, which shall credit the amount of such distribution to the accounts
      of its Depository Participants in accordance with its normal procedures. Each
      Depository Participant shall be responsible for disbursing such distribution
      to
      the Certificate Owners that it represents and to each indirect participating
      brokerage firm (a “brokerage firm” or “indirect participating firm”) for which
      it acts as agent. Each brokerage firm shall be responsible for disbursing funds
      to the Certificate Owners that it represents. All such credits and disbursements
      with respect to a Book-Entry Certificate are to be made by the Depository and
      the Depository Participants in accordance with the provisions of the
      Certificates. None of the Trustee, the Depositor or the Seller shall have any
      responsibility therefor.

     93

  

  

     

    (g) Distributions
      from Final Maturity Reserve Account.
      On the
      Final Maturity Reserve Termination Date, the Trustee shall distribute the funds
      on deposit in the Final Maturity Reserve Account on such date in the following
      order of priority:

     

    (i) to
      the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates, pro
      rata,
      after
      giving effect to principal distributions on such Distribution Date pursuant
      to
      Sections 5.01(a)(ii) or (iii) above, as applicable, in reduction of their
      respective Class Principal Balances, until the Class Principal Balance of each
      such Class has been reduced to zero;

     

    (ii) to
      the
      Certificate Insurer, any reimbursement amounts due to the Certificate Insurer
      in
      respect of principal;

     

    (iii) to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
      B-7
      Certificates, sequentially, in that order, after giving effect to principal
      distributions on such Distribution Date pursuant to Sections 5.01(a)(ii) or
      (iii) above, as applicable, in reduction of their respective Class Principal
      Balances, until the Class Principal Balance of each such class has been reduced
      to zero;

     

    (iv) to
      the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates, pro
      rata,
      any
      Interest Distributable Amounts for each such Class remaining unpaid on such
      Distribution Date, in the same priorities as set forth in Section 5.01(a)(i);
      

     

    (v) to
      the
      Certificate Insurer, any reimbursement amounts due to the Certificate Insurer
      in
      respect of any Interest Distributable Amount;

     

    (vi) to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
      B-7
      Certificates, sequentially, in that order, any Interest Distributable Amounts
      for each such Class remaining unpaid on such Distribution Date; and

     

    (vii) to
      the
      extent of any funds remaining in the Final Maturity Reserve Account after
      payment pursuant to clauses (i) through (vi) above, to the Class C
      Certificates;

     94

  

  

     

    (h) Distributions
      from Yield Maintenance Account.
      On each
      Distribution Date beginning on the Distribution Date in May 2010 through and
      including the Distribution Date in July 2014, the Trustee shall distribute
      the
      funds on deposit in the Yield Maintenance Account for such date after making
      all
      distributions under Section 5.01(a)(iv) above and Section 5.01(i) below as
      follows:

     

    (i) to
      the
      Offered Certificates, any amounts necessary to maintain the applicable
      Overcollateralization Target Amount;

     

    (ii) to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
      B-7
      Certificates, sequentially, in that order, any Allocated Realized Loss Amounts
      to the extent unpaid;

     

    (iii) to
      the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates, pro
      rata,
      any
      Unpaid Interest Shortfall Amounts to the extent unpaid;

     

    (iv) to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
      B-7
      Certificates, sequentially, in that order, any Unpaid Interest Shortfall Amounts
      to the extent unpaid;

     

    (v) to
      the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates, pro
      rata,
      any
      Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls to the extent unpaid;
      and

     

    (vi) to
      the
      Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 and Class
      B-7
      Certificates, sequentially, in that order, any Basis Risk Shortfalls and Unpaid
      Basis Risk Shortfalls to the extent unpaid.

     

    (i) Distributions
      from Class 2A-1C2 Yield Maintenance Account.
      On each
      Distribution Date beginning on the Distribution Date in November 2006 through
      and including the Distribution Date in January 2015, the Trustee shall
      distribute the funds on deposit in the Yield Maintenance Account for such date
      after making all distributions under Section 5.01(a)(iv) above as
      follows:

     

    (i) to
      the
      Class 2A-1C2 Certificates any Basis Risk Shortfalls to the extent unpaid;
      and

     

    (ii) any
      remaining amounts, to the Class C Certificates.

     

    (j) On
      each
      Distribution Date, the Trustee, as Paying Agent, shall withdraw all Prepayment
      Penalty Amounts from funds on deposit in the Distribution Account and shall
      distribute such amounts to the Holders of the Class P Certificates.

     

    SECTION
      5.02. Allocation
      of Net Deferred Interest.

     

    For
      any
      Distribution Date, the Net Deferred Interest on the Mortgage Loans will be
      allocated among the Classes of Certificates in proportion to the excess, if
      any,
      for each such Class of (i) the Monthly Interest Distributable Amount accrued
      at
      the Pass-Through Rate for such Class, over (ii) the amount of the Monthly
      Interest Distributable Amount for such Class and for such Distribution Date
      calculated at the related Adjusted Cap Rate for such Class. Any Net Deferred
      Interest that is not allocable to any Class of LIBOR Certificates pursuant
      to
      the preceding sentence shall be allocated to the Class C
      Certificates.

     95

  

  

     

    On
      each
      Distribution Date, any amount of Net Deferred Interest allocable to a Class
      of
      Certificates on such Distribution Date will be added as Principal to the
      outstanding Class Principal Balance of such Class of Certificates. 

     

    SECTION
      5.03. Allocation
      of Realized Losses.

     

    (a) On
      or
      prior to each Distribution Date, the Trustee shall aggregate the loan-level
      information provided by the Servicer with respect to the total amount of
      Realized Losses, if any, with respect to the Mortgage Loans in each Loan Group
      for the related Distribution Date and include such information in the
      Distribution Date Statement.

     

    (b) On
      each
      Distribution Date, Realized Losses that occurred during the related prepayment
      period shall be allocated as follows:

     

    first,
      to Net
      Monthly Excess Cashflow;

     

    second,
      to
      the
      Overcollateralized Amount, until such amount has been reduced to
      zero;

     

    third,
      to
      the
      Subordinate Certificates in reverse order of their respective numerical Class
      designations (beginning with the Class of Subordinate Certificates with the
      highest numerical Class designation) until the Class Principal Balance of each
      such Class is reduced to zero; and

     

    fourth,
      to the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class
      2A-1C2 Certificates, pro
      rata,
      until
      the Class Principal Balance of each such class is reduced to zero; provided,
      however,
      that
      all losses allocable to the Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class
      2A-1C1 and Class 2A-1C2 Certificates will be allocated sequentially, first,
      to
      the Class 2A-1C1 and Class 2A-1C2 Certificates, pro
      rata
      as a
      group; second, to the Class 2A-1B1 and Class 2A-1B2 Certificates, pro
      rata
      as a
      group; and third, to the Class 2A-1A Certificates, in that order, for so long
      as
      such certificates are outstanding.

     

    (c) The
      Class
      Principal Balance of first, the Class C Certificates and second, the Class
      of
      Certificates then outstanding with the highest numerical Class designation
      shall
      be reduced on each Distribution Date by the amount, if any, by which the
      aggregate of the Class Principal Balances of all outstanding Classes of
      Certificates (after giving effect to the distribution of principal and the
      allocation of Realized Losses on such Distribution Date) exceeds the aggregate
      of the Stated Principal Balances of all the Mortgage Loans for the following
      Distribution Date.

     

    (d) Any
      Realized Loss allocated to a Class of Certificates or any reduction in the
      Class
      Principal Balance of a Class of Certificates pursuant to Section 5.03(b) or
      (c)
      shall be allocated among the Certificates of such Class, pro
      rata,
      in
      proportion to their respective Certificate Principal Balances.

     

    (e) Any
      allocation of Realized Losses to a Certificate or any reduction in the
      Certificate Principal Balance of a Certificate pursuant to Section 5.03(b)
      or
      (c) shall be accomplished by reducing the Certificate Principal Balance thereof
      immediately following the distributions made on the related Distribution Date
      in
      accordance with the definition of “Certificate Principal Balance.”

     96

  

  

     

    SECTION
      5.04. Statements.

     

    (a) On
      each
      Distribution Date, the Trustee shall make available to each Certificateholder,
      the Certificate Insurer, the Yield Maintenance Provider, the Seller, any NIMS
      Insurer and each Rating Agency, a statement based, as applicable, on loan-level
      information obtained from the Servicer (the “Distribution
      Date Statement”)
      as to
      the distributions to be made or made, as applicable, on such Distribution Date.
      Information in the Distribution Date Statement relating to or based on amounts
      available in the Yield Maintenance Account and the Class 2A-1C2 Yield
      Maintenance Account shall be based on information provided by the Yield
      Maintenance Provider regarding any Yield Maintenance Distributable Amounts
      and
      Class 2A-1C2 Yield Maintenance Distributable Amounts required to be paid by
      the
      Yield Maintenance Provider for the related Distribution Date pursuant to the
      Yield Maintenance Agreement or the Class 2A-1C2 Yield Maintenance Agreement,
      as
      applicable. The Distribution Date Statement shall include the following
      information, in each case, with respect to such Distribution Date:

     

    (i) the
      amount of the distribution made on such Distribution Date to the Holders of
      each
      Class of Certificates allocable to principal;

     

    (ii) the
      amount of the distribution made on such Distribution Date to the Holders of
      each
      Class of Certificates allocable to interest;

     

    (iii) [Reserved];

     

    (iv) the
      aggregate amount of Servicing Fees and Custodial Fees for the related Due
      Period;

     

    (v) the
      amount of Advances for each Loan Group and the aggregate amount of Advances
      for
      the related Due Period and the amount of unreimbursed Advances;

     

    (vi) the
      Loan
      Group Balance for each Loan Group and the Net WAC for each Loan Group at the
      Close of Business at the end of the related Due Period;

     

    (vii) the
      Pool
      Balance and the Loan Group Balance for such Distribution Date;

     

    (viii) for
      each
      Loan Group, the aggregate Principal Balance of the MTA Indexed Mortgage Loans
      at
      the Close of Business at the end of the related Due Period;

     

    (ix) for
      each
      Loan Group, the amount of fees, expenses or indemnification amounts paid by
      the
      Trust Fund with an identification of the general purpose of such amounts and
      the
      party receiving such amounts;

     

    (x) for
      each
      Loan Group, the number, weighted average remaining term to maturity, weighted
      average life and weighted average Loan Rate of the related Mortgage Loans as
      of
      the related Due Date;

      97

  

  

     

    (xi) for
      each
      Loan Group, the number and aggregate unpaid principal balance of the related
      Mortgage Loans, (a) 30 to 59 days Delinquent, (b) 60 to 89 days Delinquent,
      (c) 90 or more days Delinquent, (d) as to which foreclosure proceedings have
      been commenced and (e) in bankruptcy, in each case as of the close of business
      on the last day of the preceding calendar month, using the MBA
      method;

     

    (xii) for
      each
      Loan Group, the book value (if available) of any REO Property as of the Close
      of
      Business on the last Business Day of the calendar month preceding the
      Distribution Date, and, cumulatively, the total number and cumulative principal
      balance of all REO Properties in each Loan Group as of the Close of Business
      of
      the last day of the preceding Due Period;

     

    (xiii) for
      each
      Loan Group, the aggregate amount of Principal Prepayments with respect to each
      Loan Group made during the related Prepayment Period;

     

    (xiv) for
      each
      Loan Group, the aggregate amount of Realized Losses incurred during the related
      Due Period for each Loan Group and the cumulative amount of Realized Losses
      and
      the amount of Realized Losses, if any, allocated to each Class of Certificates
      after giving effect to any distributions made thereon, on such Distribution
      Date;

     

    (xv) the
      Class
      Principal Balance of each Class of Certificates and the Apportioned Principal
      Balances of the Subordinate Certificates after giving effect to any
      distributions made thereon, on such Distribution Date;

     

    (xvi) for
      each
      Loan Group, the Monthly Interest Distributable Amount and the Interest
      Distributable Amount in respect of each related Class of Certificates, for
      such
      Distribution Date and the respective portions thereof, if any, remaining unpaid
      following the distributions made in respect of such Certificates on such
      Distribution Date;

     

    (xvii) for
      each
      Loan Group, the aggregate amount of any Net Interest Shortfalls and the Unpaid
      Interest Shortfall Amount for such Distribution Date after giving effect to
      any
      distributions made thereon, on such Distribution Date;

     

    (xviii) for
      each
      Loan Group, the related Available Funds;

     

    (xix) for
      each
      Loan Group, the Pass-Through Rate and related Adjusted Cap Rate for each Class
      of Certificates for such Distribution Date; 

     

    (xx) for
      each
      Loan Group, the aggregate Principal Balance of Mortgage Loans purchased
      hereunder by the Seller during the related Due Period, and indicating the
      relevant section of the Mortgage Loan Purchase Agreement, or the Section of
      this
      Agreement, as applicable, requiring or allowing the purchase of each such
      Mortgage Loan;

     

    (xxi) for
      each
      Loan Group, the amount of any Principal Deficiency Amounts or Accrued Interest
      Amounts paid to an Undercollateralized Group or amounts paid pursuant to Section
      5.01(d);

      98

  

  

     

    (xxii) current
      Recoveries allocable to each Loan Group;

     

    (xxiii) cumulative
      Recoveries allocable to each Loan Group; 

     

    (xxiv) the
      amount of any Basis Risk Shortfall and Unpaid Basis Risk Shortfall, if any,
      for
      each Class after giving effect to any distributions made thereon, on such
      Distribution Date;

     

    (xxv) for
      each
      Loan Group, the amount of Deferred Interest and Net Deferred Interest, if any,
      for such Loan Group;

     

    (xxvi) the
      amount of the Certificate Insurer Reimbursement Amount, if any;

     

    (xxvii) the
      Deficiency Amount, if any, to be paid by the Certificate Insurer; 

     

    (xxviii) the
      amount of Net Deferred Interest, if any, added to the Class Principal Balance
      of
      the Certificates

     

    (xxix) the
      amount of any Unpaid Interest Shortfall Amount;

     

    (xxx) 
      the
      amount of any Final Maturity Reserve Amount deposited in the Final Maturity
      Reserve Account, and, on the Final Maturity Reserve Termination Date, the amount
      distributed from the Final Maturity Reserve Account to each Class of
      Certificates;

     

    (xxxi) the
      Overcollateralized Amount for that Distribution Date;

     

    (xxxii) the
      Overcollateralization Target Amount for that Distribution Date; 

     

    (xxxiii) the
      amount remitted by the Administrator to the Trustee pursuant to the Yield
      Maintenance Allocation Agreement; and

     

    (xxxiv) the
      amount of any Class P Distributable Amount.

     

    The
      Trustee shall make the Distribution Date Statement (and, at its option, any
      additional files containing the same information in an alternative format)
      available each month to Certificateholders and the other parties to this
      Agreement via the Trustee’s internet website. The Trustee’s internet website
      shall initially be located at “https://www.tss.db.com/invr.”
      Assistance in using the website can be obtained by calling the Trustee’s
      customer service desk at (800) 735-7777. 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 customer service desk and indicating such.
      The
      Trustee 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 Trustee shall provide timely and adequate notification to
      all
      parties regarding any such change.

     

    In
      the
      case of information furnished pursuant to subclauses (i) and (ii) above, the
      amounts shall be expressed in a separate section of the report as a dollar
      amount for each Class for each $1,000 original dollar amount as of the Cut-off
      Date.

     99

  

  

       

    In
      addition to the information listed above, such Distribution Date Statement
      or
      the report on Form 10-D for such Distribution Date shall also include any other
      information required by Item 1121 (§ 229.1121) of Regulation AB.

     

    (b) Within
      a
      reasonable period of time after the end of each calendar year, the Trustee
      shall, upon written request, furnish to any NIMS Insurer, the Certificate
      Insurer and each Person who at any time during the calendar year was a
      Certificateholder of a Regular Certificate, if requested in writing by such
      Person or any NIMS Insurer, such information as is reasonably necessary to
      provide to such Person or any NIMS Insurer a statement containing the
      information set forth in subclauses (i) and (ii) above, aggregated for such
      calendar year or applicable portion thereof during which such Person or any
      NIMS
      Insurer was a Certificateholder and such other customary information which
      a
      Certificateholder reasonably requests to prepare its tax returns. Such
      obligation of the Trustee shall be deemed to have been satisfied to the extent
      that substantially comparable information shall be prepared and furnished by
      the
      Trustee to Certificateholders pursuant to any requirements of the Code as are
      in
      force from time to time.

     

    (c) On
      each
      Distribution Date, the Trustee shall supply an electronic tape to Bloomberg
      Financial Markets, Inc. in a format acceptable to Bloomberg Financial Markets,
      Inc. on a monthly basis, and shall supply an electronic tape to Loan Performance
      and Intex Solutions in a format acceptable to Loan Performance and Intex
      Solutions on a monthly basis.

     

    SECTION
      5.05. Remittance
      Reports; Advances. 

     

    (a) No
      later
      than the 10th
      calendar
      day of each month, the Servicer shall deliver to the Trustee and the Certificate
      Insurer by telecopy or electronic mail (or by such other means as the Servicer
      and the Trustee may agree from time to time) the Remittance Report with respect
      to the Distribution Date. No later than the Close of Business New York time
      on
      the fifth Business Day prior to the related Distribution Date, the Servicer
      shall deliver or cause to be delivered to the Trustee in addition to the
      information provided on the Remittance Report, such other loan-level information
      reasonably available to it with respect to the Mortgage Loans as the Trustee
      may
      reasonably require to perform the calculations necessary to make the
      distributions contemplated by Section 5.01. The Trustee shall have no duty
      or
      obligation to calculate, recompute or verify any information in the Remittance
      Report or other loan level information that it receives from the
      Servicer.

     

    (b) If
      the
      Monthly Payment on a Mortgage Loan that was due on a related Due Date and is
      delinquent, other than as a result of application of the Relief Act, and for
      which the Servicer was required to make an advance pursuant to the Servicing
      Agreement, exceeds the amount on deposit in the Distribution Account which
      will
      be used for an advance with respect to such Mortgage Loan, the Servicer shall,
      on the Business Day preceding the Distribution Date, deposit in the Distribution
      Account an amount equal to such deficiency, net of the Servicing Fee, for such
      Mortgage Loan except to the extent the Servicer determines any such Advance
      to
      be Nonrecoverable from Liquidation Proceeds, Insurance Proceeds or future
      payments on the Mortgage Loan for which such Advance was made. Subject to the
      foregoing, the Servicer shall continue to make such Advances through the date
      that the Servicer is required to do so under the Servicing Agreement. If the
      Servicer determines that an Advance is Nonrecoverable, it shall, on or prior
      to
      the related Distribution Date, present an Officer’s Certificate to the Trustee
      (i) stating that the Servicer elects not to make a Advance in a stated amount
      and (ii) detailing the reason it deems the advance to be
      Nonrecoverable.

     100

  

  

    SECTION
      5.06. Compensating
      Interest Payments.

     

    The
      amount of the Servicing Fee payable to the Servicer in respect of any
      Distribution Date shall be reduced (but not below zero) by the amount of any
      Compensating Interest Payment for such Distribution Date, but only to the extent
      that Interest Shortfalls relating to such Distribution Date are required to
      be
      paid but are not actually paid by the Servicer on the applicable Servicer
      Remittance Date. Such amount shall not be treated as an Advance and shall not
      be
      reimbursable to the Servicer.

     

    SECTION
      5.07. Basis
      Risk Reserve Fund.

     

    (a) On
      the
      Closing Date, the Trustee shall establish and maintain in its name, in trust
      for
      the benefit of the holders of the Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class
      2A-1B2, Class 2A-1C1, Class 2A-1C2, Class B-1, Class B-2, Class B-3, Class
      B-4,
      Class B-5, Class B-6 and Class B-7 Certificates, a Basis Risk Reserve Fund.
      The
      Basis Risk Reserve Fund shall be an Eligible Account, and funds on deposit
      therein shall be held separate and apart from, and shall not be commingled
      with,
      any other moneys, including, without limitation, other moneys of the Trustee
      held pursuant to this Agreement. The Basis Risk Reserve Fund shall not be an
      asset of any REMIC established hereby.

     

    (b) On
      each
      Distribution Date, other than the Distribution Date following the optional
      purchase of the Mortgage Loans pursuant to Section 10.01, Net Monthly Excess
      Cashflow shall be deposited in the Basis Risk Reserve Fund to the extent of
      the
      Required Reserve Fund Deposit pursuant to Section 5.01(a)(iv)(J).

     

    (c) On
      any
      Distribution Date for which a Basis Risk Shortfall exists with respect to the
      Class 1A-1A, Class 2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1, Class
      2A-1C2, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5, Class B-6 or
      Class B-7 Certificates, the Trustee, as Paying Agent for the Trustee, shall
      withdraw (i) first,
      from
      the Class 2A-1C2 Yield Maintenance Account, the amount of such Basis Risk
      Shortfall for the Class 2A-1C2 Certificates for distribution to the Class 2A-1C2
      Certificates on such Distribution Date pursuant to Section 5.01(i), (ii)
second,
      from
      the Yield Maintenance Account, the amount of such Basis Risk Shortfall for
      such
      Classes of Certificates for distribution on such Distribution Date pursuant
      to
      Section 5.01(h), and (iii) third,
      from
      the Basis Risk Reserve Fund, the amount of any such remaining Basis Risk
      Shortfall for distribution on such Distribution Date to the Class 1A-1A, Class
      2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates
      any related Basis Risk Shortfall for such Distribution Date on a pro
      rata
      basis,
      based on the respective amounts of Basis Risk Shortfalls for such Distribution
      Date and then sequentially to the Class B-1, Class B-2, Class B-3, Class B-4,
      Class B-5, Class B-6 and Class B-7 Certificates in that order up to the amount
      of Basis Risk Shortfalls due each such Class for such Distribution
      Date.

     

    (d) Funds
      in
      the Basis Risk Reserve Fund shall be invested in Permitted Investments. Any
      earnings on amounts in the Basis Risk Reserve Fund shall be for the benefit
      of
      the Class C Certificateholders. The Class C Certificates shall evidence
      ownership of the Basis Risk Reserve Fund for federal income tax purposes and
      the
      Holders thereof shall direct the Trustee, in writing, as to investment of
      amounts on deposit therein. The Class C Certificateholder(s) shall be liable
      for
      any losses incurred on such investments. In the absence of written instructions
      from the Class C Certificateholder as to investment of funds on deposit in
      the
      Basis Risk Reserve Fund, such funds shall be invested in money market funds
      as
      specified by the Depositor and as described in clause (vi) of the definition
      of
      Permitted Investments in Article I. For all Federal income tax purposes, amounts
      transferred by the Upper-Tier REMIC to the Basis Risk Reserve Fund shall be
      treated as amounts distributed by the Upper-Tier REMIC to the Class C
      Certificateholders.

     101

  

  

    (e) Upon
      termination of the Trust Fund any amounts remaining in the Basis Risk Reserve
      Fund shall be distributed to the Class C Certificateholders.

     

SECTION
  5.08. Recoveries. 

     

    (a) With
      respect to any Class of Certificates to which a Realized Loss has been allocated
      (including any such Class for which the related Class Principal Balance has
      been
      reduced to zero), to the Class Principal Balance of such Class will be increased
      by the amount of a Recovery collected with regard to the related Loan Group
      allocated to such Class for such Distribution Date as follows:

     

    (i) first,
      the Class Principal Balance of each Class of Senior Certificates related to
      the
      Loan Group from which the Recovery was collected, will be increased,
pro
      rata
      based on
      Realized Losses allocated to such Class, up to the amount by which Net Realized
      Losses previously allocated to each such Class exceeds the amount of Recoveries
      for such Distribution Date previously distributed to such Class,
      and

     

    (ii) second,
      the Class Principal Balance of each Class of Subordinate Certificates will
      be
      increased in order of seniority, up to the amount by which Net Realized Losses
      previously allocated to each such Class exceeds the amount of Recoveries for
      such Distribution Date previously distributed to such Class.

     

    (b) To
      the
      extent that the Certificate Insurer has made a payment in respect of Realized
      Losses and such amount has not previously been reimbursed pursuant to Section
      5.01(a)(i)(C), 5.01(a)(ii)(B), 5.01(a)(iii)(B) or 5.01(a)(iv)(D), the
      Certificate Insurer will be subrogated to the rights of the Holders of the
      Insured Certificates and will be entitled to the amount of any such Realized
      Losses paid by it to the Insured Certificates that remains unreimbursed prior
      to
      any Recoveries being allocated to the Holders of the Insured
      Certificates.

     

    SECTION
      5.09. The
      Final Maturity Reserve Trust.

     

    (a) The
      Final
      Maturity Reserve Trust is hereby established as a separate trust, the corpus
      of
      which shall be held by the Trustee, in trust, for the benefit of the holders
      of
      the Certificates (other than the Class P Certificates) and the Certificate
      Insurer. The Trustee shall establish an account (the “Final Maturity Reserve
      Account”). The Final Maturity Reserve Account shall be an Eligible Account, and
      funds on deposit therein shall be held separate and apart from, and shall not
      be
      commingled with, any other moneys, including, without limitation, other moneys
      of the Trustee held pursuant to this Agreement.

     102

  

  

    (b) The
      Trustee shall deposit into the Final Maturity Reserve Account any Final Maturity
      Reserve Amounts pursuant to Section 5.01(a)(i)(A). The Trustee shall distribute
      the funds in the Final Maturity Reserve Account pursuant to Section
      5.01(g).

     

    (c) Funds
      in
      the Final Maturity Reserve Account shall be invested in Permitted Investments
      at
      the written direction of the Holders of the Class C Certificates. Any earnings
      on such amounts shall be distributed pursuant to Section 5.01(g). The Class
      C
      Certificates shall evidence ownership of the Final Maturity Reserve Trust for
      federal income tax purposes and the Holder thereof shall direct the Trustee,
      in
      writing, as to investment of amounts on deposit therein. The Class C
      Certificateholders shall be liable for any losses incurred on such investments.
      In the absence of written instructions from the Class C Certificateholders
      as to
      investment of funds on deposit in the Final Maturity Reserve Account, such
      funds
      shall be invested in money market funds as specified by the Depositor and as
      described in clause (vi) of the definition of Permitted Investments in Article
      I.

     

    (d) Upon
      termination of the Final Maturity Reserve Trust, any amounts remaining in the
      Final Maturity Reserve Account shall be distributed pursuant to the priorities
      in Section 5.01(g).

     

    (e) For
      federal income tax purposes, any Certificateholder that receives a principal
      payment from the Final Maturity Reserve Trust shall be treated as selling a
      portion of its Certificate to the Class C Certificateholder and as having
      received the amount of the principal payment from the Class C Certificateholder
      as the proceeds of the sale. The portion of the Certificate that is treated
      as
      having been sold shall equal the amount of the corresponding reduction in the
      Class Principal Balance of such Certificate. Principal payments received from
      the Final Maturity Reserve Trust shall not be treated as distributions from
      any
      REMIC created hereby. All principal distributions from the Final Maturity
      Reserve Account shall be accounted for hereunder in accordance with this Section
      5.09(e).

     

    SECTION
      5.10. Yield
      Maintenance Agreement; Class 2A-1C2 Yield Maintenance
      Agreement.

     

    (a) On
      or
      prior to the Closing Date, the Administrator, pursuant to the Yield Maintenance
      Allocation Agreement, shall enter into the Yield Maintenance Agreement. The
      Administrator shall perform the duties as set forth in the Yield Maintenance
      Agreement and Yield Maintenance Allocation Agreement. 

     

    (b) On
      or
      prior to the Closing Date, the Trustee, on behalf of the Trust Fund, is hereby
      authorized and directed to enter into the Class 2A-1C2 Yield Maintenance
      Agreement. On the Business Day prior to each Distribution Date beginning
      in November 2006 through and including the Distribution Date in January 2015,
      the Trustee shall
      deposit
      the Class 2A-1C2 Distributable Amount into the Class 2A-1C2 Yield Maintenance
      Account. On each Distribution Date beginning in November 2006 through and
      including the Distribution Date in January 2015, the Trustee shall distribute
      the amount, if any, in the Class 2A-1C2 Yield Maintenance Account in accordance
      with the priority set forth in Section 5.01(i). 

     103

  

  

     

    Upon
      the
      earlier of the Distribution Date in February 2015 and the termination of the
      Trust Fund, the Class 2A-1C2 Yield Maintenance Agreement shall be
      terminated.

     

    SECTION
      5.11. Yield
      Maintenance Trust; Yield Maintenance Trust Account. 

     

    Pursuant
      to the Yield Maintenance Allocation Agreement, the Administrator shall establish
      and maintain (i) the Yield Maintenance Trust into which it shall deposit the
      Yield Maintenance Agreement and (ii) the Yield Maintenance Trust Account into
      which, on the day prior to each Distribution Date, it will deposit the Yield
      Maintenance Distributable Amount, if any, paid by the Yield Maintenance Provider
      pursuant to the Yield Maintenance Agreement.

     

    On
      each
      Distribution Date, after remitting the Yield Maintenance Payment Amount to
      the
      Trustee, any amounts remaining on deposit in the Yield Maintenance Trust Account
      shall be distributed in accordance with Section 3(a)(ii) of the Yield
      Maintenance Allocation Agreement.

     

    It
      is the
      intention of the parties hereto that, for federal and state income and state
      and
      local franchise tax purposes, the Yield Maintenance Trust Account be disregarded
      as an entity separate from the Holder of the Class C Certificates unless and
      until the date when either (a) there is more than one Class C Certificateholder
      or (b) any Class of Certificates in addition to the Class C Certificates is
      recharacterized as an equity interest in the Yield Maintenance Trust Account
      for
      federal income tax purposes, in which case it is the intention of the parties
      hereto that, for federal and state income and state and local franchise tax
      purposes, the Yield Maintenance Trust Account be treated as a partnership.
      The
      Yield Maintenance Trust Account will be an “outside reserve fund” within the
      meaning of Treasury Regulation Section 1.860G-2(h). Upon the termination of
      the
      Trust Fund, or the payment in full of the Offered Certificates, all amounts
      remaining on deposit in the Yield Maintenance Trust Account shall be distributed
      to the Class C Certificateholders or their designees. The Yield Maintenance
      Trust Account shall not be part of the Trust Fund or of any REMIC and any
      payments to the Holders of the Offered Certificates to pay certain interest
      shortfalls will not be payments with respect to a “regular interest” in a REMIC
      within the meaning of Code Section 860(G)(a)(1).

     

    The
      Administrator shall terminate the Yield Maintenance Agreement upon the
      occurrence of an event of default or termination event under the Yield
      Maintenance Agreement of which the Administrator has actual knowledge. In the
      event that the Yield Maintenance Agreement is canceled or otherwise terminated
      for any reason (other than the exhaustion of the interest rate protection
      provided thereby), the Administrator shall, at the direction of
      Certificateholders evidencing Voting Rights not less than 50% of the Offered
      Certificates, and to the extent a replacement contract is available (from a
      counterparty designated by the Depositor and acceptable to Certificateholders
      evidencing Voting Rights not less than 50% of the Offered Certificates), execute
      a replacement contract comparable to the Yield Maintenance Agreement providing
      interest rate protection which is equal to the then-existing protection provided
      by such Yield Maintenance Agreement as certified to the Administrator by the
      Depositor; provided,
      however,
      that
      the cost of any such replacement contract providing the same interest rate
      protection may be reduced to a level such that the cost of such replacement
      contract shall not exceed the amount of any early termination payment received
      from the Yield Maintenance Provider.

     104

  

  

    Upon
      the
      earlier of the Distribution Date in July 2014 and the termination of the Trust
      Fund, the Yield Maintenance Agreement shall be terminated. 

     

    By
      accepting a Class C Certificate, each Class C Certificateholder hereby agrees
      to
      direct the Administrator, and the Administrator is hereby directed, to deposit
      into the Yield Maintenance Trust Account the amounts described
      above.

     

    For
      federal income tax purposes, the right of the Offered Certificates to receive
      payments from the Yield Maintenance Trust Account may have more than a
de
      minimis
      value.

     

    SECTION
      5.12. Yield
      Maintenance Account; Class 2A-1C2 Yield Maintenance Account. 

     

    The
      Trustee is hereby directed to establish and maintain with itself, a separate,
      segregated account titled “Deutsche Bank National Trust Company, as Trustee, in
      trust for the registered Holders of HarborView Mortgage Loan Trust Mortgage
      Loan
      Pass-Through Certificates, Series 2006-9” (the “Yield Maintenance Account”) for
      the benefit of the Offered Certificates and a separate, segregated account
      titled “Deutsche Bank National Trust Company, as Trustee, in trust for the
      registered Holders of Class 2A-1C2 Certificates of HarborView Mortgage Loan
      Trust Mortgage Loan Pass-Through Certificates, Series 2006-9” (the “Class 2A-1C2
      Yield Maintenance Account”). Each of the Yield Maintenance Account and the Class
      2A-1C2 Yield Maintenance Account shall be an Eligible Account, and funds on
      deposit therein shall be held separate and apart from, and shall not be
      commingled with, any other moneys, including, without limitation, other moneys
      of the Trustee held pursuant to this Agreement. Amounts on deposit in the Yield
      Maintenance Account and the Class 2A-1C2 Yield Maintenance Account shall not
      be
      invested and shall not be held in an interest-bearing account.

     

    On
      each
      Distribution Date, the Administrator shall remit the Yield Maintenance Payment
      Amount to the Trustee for deposit into the Yield Maintenance Account for
      distribution by the Trustee pursuant to the priorities set forth in Section
      5.01(h). On each Distribution Date, the Trustee shall deposit the Yield
      Maintenance Payment Amount received pursuant to the Class 2A-1C2 Yield
      Maintenance Agreement into the Class 2A-1C2 Yield Maintenance Account for
      distribution pursuant to the priorities set forth in Section 5.01(i).

     

    If
      the
      Seller or its affiliate is the Holder of an Offered Certificate, the Seller
      or
      its affiliate shall remit to the Trustee the portion of Yield Maintenance
      Distributable Amounts received by the Holder of such Certificate on any
      Distribution Date, and the Trustee shall remit such amounts to the Yield
      Maintenance Provider. If the Seller or its affiliate is the Holder of a Class
      2A-1C2 Certificate, the Seller or its affiliate shall remit to the Trustee
      the
      portion of Yield Maintenance Distributable Amounts received by the Holder of
      such Certificate on any Distribution Date, and the Trustee shall remit such
      amounts to the Yield Maintenance Provider. For purposes of this Agreement,
      the
      Trustee shall have no duty to confirm that each amount received by it from
      the
      Seller or its affiliate with respect to the preceding two sentences is the
      correct amount.

      105

  

  

     

    The
      Administrator and the Trustee shall terminate the Yield Maintenance Agreement
      and the Class 2A-1C2 Yield Maintenance Agreement, respectively, upon the
      occurrence of an event of default or termination event under the Yield
      Maintenance Agreement or the Class 2A-1C2 Yield Maintenance Agreement, as
      applicable, of which a Responsible Officer of the Trustee has actual knowledge.
      In the event that the Yield Maintenance Agreement is terminated for any reason
      (other than the exhaustion of the interest rate protection provided thereby),
      the Trustee shall, at the direction of Certificateholders evidencing Voting
      Rights not less than 50% of the Offered Certificates, and to the extent a
      replacement contract is available (from a counterparty designated by the
      Depositor and acceptable to Certificateholders evidencing Voting Rights not
      less
      than 50% of the Offered Certificates), direct the Administrator to execute
      a
      replacement contract comparable to the such Yield Maintenance Agreement
      providing interest rate protection which is equal to the then-existing
      protection provided by such Yield Maintenance Agreement as certified to the
      Administrator by the Depositor. In the event that the Class 2A-1C2 Yield
      Maintenance Agreement is terminated for any reason (other than the exhaustion
      of
      the interest rate protection provided thereby), the Trustee shall, at the
      direction of Certificateholders evidencing Voting Rights not less than 50%
      of
      the Class 2A-1C2 Certificates, and to the extent a replacement contract is
      available (from a counterparty designated by the Depositor and acceptable to
      Certificateholders evidencing Voting Rights not less than 50% of the Class
      2A-1C2 Certificates), execute a replacement contract comparable to such Class
      2A-1C2 Yield Maintenance Agreement providing interest rate protection which
      is
      equal to the then-existing protection provided by such Class 2A-1C2 Yield
      Maintenance Agreement as certified to the Trustee by the Depositor. In each
      case, provided,
      however,
      that
      the cost of any such replacement contract providing the same interest rate
      protection may be reduced to a level such that the cost of such replacement
      contract shall not exceed the amount of any early termination payment received
      from the Yield Maintenance Provider.

     

    Upon
      the
      earlier of the Distribution Date in July 2014 and the termination of the Trust
      Fund, the Yield Maintenance Account shall be terminated. Upon the earlier of
      the
      Distribution Date in January 2015 and upon the termination of the Trust Fund,
      the Class 2A-1C2 Yield Maintenance Account shall be terminated. 

     

    ARTICLE
      VI

     

    THE
      CERTIFICATES

     

    SECTION
      6.01. The
      Certificates.

     

    The
      Certificates shall be substantially in the form annexed hereto as Exhibit A
      through D. Each of the Certificates shall, on original issue, be executed by
      the
      Trustee and authenticated and delivered by the Certificate Registrar upon the
      written order of the Depositor concurrently with the sale and assignment to
      the
      Trustee of the Trust Fund. Each Class of the Regular Certificates shall be
      initially evidenced by one or more Certificates representing a Percentage
      Interest with a minimum dollar denomination of $25,000 and integral dollar
      multiples of $1 in excess thereof, in the case of the Class 1A-1A, Class 2A-1A,
      Class 2A-1B1, Class 2A-1B2, Class 2A-1C1, Class 2A-1C2, Class B-1, Class B-2,
      Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates;
provided,
      however,
      that
      the Offered Certificates shall only be sold to initial investors in minimum
      total investment amounts of $100,000. The Class C, Class P and Class R
      Certificates are issuable only in a Percentage Interest of 100%.

     106

  

  

    The
      Certificates shall be executed on behalf of the Trust Fund by manual or
      facsimile signature on behalf of the Trustee by a Responsible Officer.
      Certificates bearing the manual or facsimile signatures of individuals who
      were,
      at the time when such signatures were affixed, authorized to sign on behalf
      of
      the Trustee shall be binding, notwithstanding that such individuals or any
      of
      them have ceased to be so authorized prior to the authentication and delivery
      of
      such Certificates or did not hold such offices at the date of such Certificate.
      Each Certificate shall, on original issue, be authenticated by the Certificate
      Registrar upon the order of the Depositor. No Certificate shall be entitled
      to
      any benefit under this Agreement or be valid for any purpose, unless such
      Certificate shall have been manually authenticated by the Certificate Registrar
      substantially in the form provided for herein, and such authentication upon
      any
      Certificate shall be conclusive evidence, and the only evidence, that such
      Certificate has been duly authenticated and delivered hereunder. All
      Certificates shall be dated the date of their authentication. At any time and
      from time to time after the execution and delivery of this Agreement, the
      Depositor may deliver Certificates executed by the Trustee to the Certificate
      Registrar for authentication and the Certificate Registrar shall authenticate
      and deliver such Certificates as provided in this Agreement and not otherwise.
      Subject to Section 6.02(c), the Senior Certificates (other than the Residual
      Certificate) and the Subordinate Certificates shall be Book-Entry Certificates.
      

     

    The
      Private Certificates shall be offered and sold in reliance either on (i) the
      exemption from registration under Rule 144A of the 1933 Act and shall be issued
      initially in the form of one or more permanent global Certificates in
      definitive, fully registered form with the applicable legends set forth in
      Exhibits C-1, C-2 or C-3 hereto, as applicable, (each, a “Restricted
      Global Security”)
      or
      (ii) Regulation S and shall be issued initially in the form of one or more
      permanent global Certificates in definitive, fully registered form without
      interest coupons with the applicable legends set forth in Exhibits C-1, C-2
      or
      C-3 hereto, as applicable, (each, a “Regulation
      S Global Security”),
      which
      shall be deposited on behalf of the subscribers for such Certificates
      represented thereby with the Trustee, as custodian for DTC and registered in
      the
      name of a nominee of DTC, duly executed by the Trustee and authenticated by
      the
      Certificate Registrar as hereinafter provided. The aggregate principal amounts
      of the Restricted Global Securities or Regulation S Global Securities, as
      applicable, may from time to time be increased or decreased by adjustments
      made
      on the records of the Certificate Registrar and DTC or its nominee, as the
      case
      may be, as hereinafter provided.

     

    SECTION
      6.02. Registration
      of Transfer and Exchange of Certificates. 

     

    (a) The
      Certificate Registrar shall cause to be kept 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. The Trustee is hereby
      appointed, and the Trustee hereby accepts its appointment as, initial
      Certificate Registrar, for the purpose of registering Certificates and transfers
      and exchanges of Certificates as herein provided.

     107

  

  

    Upon
      surrender for registration of transfer of any Certificate at the Corporate
      Trust
      Office of the Certificate Registrar maintained for such purpose pursuant to
      the
      foregoing paragraph, the Trustee on behalf of the Trust Fund shall execute,
      and
      the Certificate Registrar shall authenticate and deliver, in the name of the
      designated transferee or transferees, one or more new Certificates of the same
      aggregate Percentage Interest.

     

    At
      the
      option of the Certificateholders, Certificates may be exchanged for other
      Certificates in authorized denominations and the same aggregate Percentage
      Interests, upon surrender of the Certificates to be exchanged at any such office
      or agency. Whenever any Certificates are so surrendered for exchange, the
      Trustee shall execute on behalf of the Trust Fund, and the Certificate Registrar
      shall authenticate and deliver the Certificates which the Certificateholder
      making the exchange is entitled to receive. Every Certificate presented or
      surrendered for registration of transfer or exchange shall (if so required
      by
      the Certificate Registrar) be duly endorsed by, or be accompanied by a written
      instrument of transfer satisfactory to the Certificate Registrar duly executed
      by, the Holder thereof or his attorney duly authorized in writing.

     

    (b) Except
      as
      provided in paragraph (c) or (d) below, the Book-Entry 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
      Trustee or the Certificate Registrar except to another Depository; (ii) the
      Depository shall maintain book-entry records with respect to the Certificate
      Owners and with respect to ownership and transfers of such Certificates; (iii)
      ownership and transfers of registration of such Certificates on the books of
      the
      Depository shall be governed by applicable rules established by the Depository;
      (iv) the Depository may collect its usual and customary fees, charges and
      expenses from its Depository Participants; (v) the Certificate Registrar, any
      NIMS Insurer, the Paying Agent and the Trustee shall for all purposes deal
      with
      the Depository as representative of the Certificate Owners of such Certificates
      for purposes of exercising the rights of Holders 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; (vi) the Trustee, the Paying Agent and the Certificate Registrar may
      rely and shall be fully protected in relying upon information furnished by
      the
      Depository with respect to its Depository Participants and furnished by the
      Depository Participants with respect to indirect participating firms and Persons
      shown on the books of such indirect participating firms as direct or indirect
      Certificate Owners; and (vii) the direct participants of the Depository
      shall have no rights under this Agreement under or with respect to any of the
      Certificates held on their behalf by the Depository, and the Depository may
      be
      treated by the Trustee, the Paying Agent, the Certificate Registrar and their
      respective agents, employees, officers and directors as the absolute owner
      of
      the Certificates for all purposes whatsoever.

     

    All
      transfers by Certificate Owners of Book-Entry 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 that it
      represents or of brokerage firms for which it acts as agent in accordance with
      the Depository’s normal procedures. The parties hereto are hereby authorized to
      execute one or more Letter of Representations with the Depository or take such
      other action as may be necessary or desirable to register a Book-Entry
      Certificate to the Depository. In the event of any conflict between the terms
      of
      any such Letter of Representation and this Agreement, the terms of this
      Agreement shall control.

     108

  

  

    (c) If
      (x)
      the Depository or the Depositor advises the Certificate Registrar in writing
      that the Depository is no longer willing or able to discharge properly its
      responsibilities as Depository and (y) the Certificate Registrar or the
      Depositor is unable to locate a qualified successor, upon surrender to the
      Certificate Registrar of the Book-Entry Certificates by the Depository,
      accompanied by registration instructions from the Depository for registration,
      the Trustee shall at the Seller’s expense execute on behalf of the Trust Fund
      and authenticate definitive, fully registered certificates (the “Definitive
      Certificates”).
      Neither the Depositor nor the Certificate Registrar shall be liable for any
      delay in delivery of such instructions and may conclusively rely on, and shall
      be protected in relying on, such instructions. Upon the issuance of Definitive
      Certificates, the Trustee shall notify any NIMS Insurer of the availability
      of
      Definitive Certificates and the Trustee, the Certificate Registrar, the Paying
      Agent and the Depositor shall recognize the Holders of the Definitive
      Certificates as Certificateholders hereunder.

     

    (d) No
      transfer, sale, pledge or other disposition of any Private Certificate, other
      than a Private Certificate sold in an offshore transaction in reliance on
      Regulation S, shall be made unless such disposition is exempt from the
      registration requirements of the 1933 Act, and any applicable state securities
      laws or is made in accordance with the 1933 Act and laws. Any Private
      Certificates sold to an “accredited investor” under Rule 501(a)(1), (2), (3) or
      (7) under the 1933 Act shall be issued only in the form of one or more
      Definitive Certificates and the records of the Certificate Registrar and DTC
      or
      its nominee shall be adjusted to reflect the transfer of such Definitive
      Certificates. In the event of any transfer of any Private Certificate in the
      form of a Definitive Certificate, (i) the transferee shall certify (A) such
      transfer is made to a Qualified Institutional Buyer in reliance upon Rule 144A
      (as evidenced by an investment letter delivered to the Certificate Registrar,
      in
      substantially the form attached hereto as Exhibit J-2) under the 1933 Act,
      or
      (B) such transfer is made to an “accredited investor” under Rule 501(c)(1), (2),
      (3) or (7) under the 1933 Act (as evidenced by an investment letter delivered
      to
      the Certificate Registrar, in substantially the form attached hereto as Exhibit
      J-1, and, if so required by the Certificate Registrar and the Depositor, a
      written Opinion of Counsel (which may be in-house counsel) acceptable to and
      in
      form and substance reasonably satisfactory to the Certificate Registrar and
      the
      Depositor, delivered to the Certificate Registrar and the Depositor stating
      that
      such transfer may be made pursuant to an exemption, including a description
      of
      the applicable exemption and the basis therefor, from the 1933 Act or is being
      made pursuant to the 1933 Act, which Opinion of Counsel shall not be an expense
      of the Trust Fund, the Trustee, the Certificate Registrar or the Depositor)
      or
      (ii) the Certificate Registrar shall require the transferor to execute a
      transferor certificate and the transferee to execute an investment letter
      acceptable to and in form and substance reasonably satisfactory to the Depositor
      and the Certificate Registrar certifying to the Depositor and the Certificate
      Registrar the facts surrounding such transfer, which investment letter shall
      not
      be an expense of the Trust Fund, the Trustee, the Certificate Registrar or
      the
      Depositor. Each Holder of a Private Certificate desiring to effect such transfer
      shall, and does hereby agree to, indemnify the Trustee, the Certificate
      Registrar, the Seller and the Depositor against any liability that may result
      if
      the transfer is not so exempt or is not made in accordance with such federal
      and
      state laws.

     109

  

  

    In
      the
      case of a Private Certificate that is a Book-Entry Certificate, for purposes
      of
      the preceding paragraph, the representations set forth in the investment letter
      in clause (i) shall be deemed to have been made to the Certificate Registrar
      by
      the transferee’s acceptance of such Private Certificate that is also a
      Book-Entry Certificate (or the acceptance by a Certificate Owner of the
      beneficial interest in such Certificate).

     

    None
      of
      the Depositor, the Seller, the Certificate Registrar or the Trustee is obligated
      to register or qualify the Private Certificates under the 1933 Act or any other
      securities laws or to take any action not otherwise required under this
      Agreement to permit the transfer of such Certificates without registration
      or
      qualification. Any Certificateholder desiring to effect the transfer of a
      Private Certificate shall, and does hereby agree to, indemnify the Trustee,
      the
      Seller, the Depositor and the Certificate Registrar against any liability that
      may result if the transfer is not so exempt or is not made in accordance with
      such federal and state laws.

     

    No
      transfer of an ERISA-Restricted Certificate in the form of a Definitive
      Certificate shall be made unless the Certificate Registrar shall have received
      either (i) a representation from the transferee of such Certificate, acceptable
      to and in form and substance satisfactory to the Certificate Registrar and
      the
      Depositor (such requirement is satisfied only by the Certificate Registrar’s
      receipt of a representation letter from the transferee substantially in the
      form
      of Exhibit I-1 or I-2, as applicable, hereto), to the effect that such
      transferee is not an employee benefit plan subject to Section 406 of ERISA
      or a
      plan or arrangement subject to Section 4975 of the Code, nor a person acting
      on
      behalf of any such plan or arrangement nor using the assets of any such plan
      or
      arrangement to effect such transfer or (ii) if such Certificate has been the
      subject of an ERISA-Qualifying Underwriting, and the purchaser is an insurance
      company, a representation that the purchaser is an insurance company which
      is
      purchasing such Certificates with funds contained in an “insurance company
      general account” (as such term is defined in Section V(e) of Prohibited
      Transaction Class Exemption 95-60 (“PTCE
      95-60”)
      and
      that the purchase and holding of such Certificates are covered under Sections
      I
      and III of PTCE 95-60 or (iii) an Opinion of Counsel satisfactory to the
      Certificate Registrar, which Opinion of Counsel shall not be an expense of
      the
      Trustee, the Certificate Registrar, the Servicer, any NIMS Insurer, the
      Depositor or the Trust Fund, addressed to the Certificate Registrar, to the
      effect that the purchase and holding of such ERISA-Restricted Certificate in
      the
      form of a Definitive Certificate will not result in a non-exempt prohibited
      transaction under Section 406 of ERISA or Section 4975 of the Code and will
      not
      subject the Trustee, the Certificate Registrar, any NIMS Insurer, the Servicer
      or the Depositor to any obligation in addition to those expressly undertaken
      in
      this Agreement or to any liability. Notwithstanding anything else to the
      contrary herein, any purported transfer of an ERISA-Restricted Certificate
      in
      the form of a Definitive Certificate to an employee benefit plan subject to
      ERISA or Section 4975 of the Code without the delivery to the Certificate
      Registrar of an Opinion of Counsel satisfactory to the Certificate Registrar
      as
      described above shall be void and of no effect. 

     

    In
      the
      case of an ERISA-Restricted Certificate that is a Book-Entry Certificate, for
      purposes of clauses (i) or (ii) of the first sentence of the preceding
      paragraph, such representations shall be deemed to have been made to the
      Certificate Registrar by the transferee’s acceptance of such ERISA-Restricted
      Certificate that is also a Book-Entry Certificate (or the acceptance by a
      Certificate Owner of the beneficial interest in such Certificate).

     110

  

  

    No
      transfer of an ERISA-Restricted Trust Certificate prior to the termination
      of
      the Final Maturity Reserve Trust, the Yield Maintenance Agreement and, in the
      case of the Class 2A-1C2 Certificates, the Class 2A-1C2 Yield Maintenance
      Agreement, shall be made unless the Certificate Registrar shall have received
      a
      representation letter from the transferee of such Certificate, substantially
      in
      the form set forth in Exhibit I-2, to the effect that either (i) such transferee
      is neither a Plan nor a Person acting on behalf of any such Plan or using the
      assets of any such Plan to effect such transfer or (ii) the acquisition and
      holding of the ERISA-Restricted Trust Certificate are eligible for exemptive
      relief under Prohibited Transaction Class Exemption (“PTCE”) 84-14, PTCE 90-1,
      PTCE 91-38, PTCE 95-60 or PTCE 96-23. Notwithstanding anything else to the
      contrary herein, any purported transfer of an ERISA-Restricted Trust Certificate
      prior to the termination of the Final Maturity Reserve Trust, the Yield
      Maintenance Agreement and, in the case of the Class 2A-1C2 Certificates, the
      Class 2A-1C2 Yield Maintenance Agreement, to or on behalf of a Plan without
      the
      delivery to the Certificate Registrar of a representation letter as described
      above shall be void and of no effect. If the ERISA-Restricted Trust Certificate
      is a Book-Entry Certificate, the transferee will be deemed to have made a
      representation as provided in clause (i) or (ii) of this paragraph, as
      applicable.

     

    If
      any
      ERISA-Restricted Trust Certificate, or any interest therein, is acquired or
      held
      in violation of the provisions of the preceding paragraph, the next preceding
      permitted beneficial owner will be treated as the beneficial owner of that
      Certificate, retroactive to the date of transfer to the purported beneficial
      owner. Any purported beneficial owner whose acquisition or holding of an
      ERISA-Restricted Trust Certificate, or interest therein, was effected in
      violation of the provisions of the preceding paragraph shall indemnify to the
      extent permitted by law and hold harmless the Depositor and the Certificate
      Registrar from and against any and all liabilities, claims, costs or expenses
      incurred by such parties as a result of such acquisition or
      holding.

     

    To
      the
      extent permitted under applicable law (including, but not limited to, ERISA),
      the Certificate Registrar shall be under no liability to any Person for any
      registration of transfer of any ERISA-Restricted Trust Certificate that is
      in
      fact not permitted by this Section or for making any payments due on such
      Certificate to the Holder thereof or taking any other action with respect to
      such Holder under the provisions of this Agreement so long as the transfer
      was
      registered by the Certificate Registrar in accordance with the foregoing
      requirements.

     

    To
      the
      extent permitted under applicable law (including, but not limited to, ERISA),
      none of the Trustee, the Certificate Registrar or the Depositor shall have
      any
      liability to any Person for any registration of transfer of any ERISA-Restricted
      Certificate that is in fact not permitted by this Section 6.02(d) or for the
      Paying Agent making any payments due on such Certificate to the Holder thereof
      or taking any other action with respect to such Holder under the provisions
      of
      this Agreement so long as the transfer was registered by the Certificate
      Registrar in accordance with the foregoing requirements. In addition, none
      of
      the Trustee, the Certificate Registrar or the Depositor shall be required to
      monitor, determine or inquire as to compliance with the transfer restrictions
      with respect to any ERISA-Restricted Certificate in the form of a Book-Entry
      Certificate, and none of the Trustee, the Certificate Registrar or the Depositor
      shall have any liability for transfers of Book-Entry Certificates or any
      interests therein made in violation of the restrictions on transfer described
      in
      the Prospectus Supplement and this Agreement.

     111

  

  

    (e) Each
      Person who has or who acquires any Ownership Interest in a Residual Certificate
      shall be deemed by the acceptance or acquisition of such Ownership Interest
      to
      have agreed to be bound by the following provisions and to have irrevocably
      appointed the Depositor or its designee as its attorney-in-fact to negotiate
      the
      terms of any mandatory sale under clause (v) below and to execute all
      instruments of transfer and to do all other things necessary in connection
      with
      any such sale, and the rights of each Person acquiring any Ownership Interest
      in
      a Residual Certificate are expressly subject to the following
      provisions:

     

    (i) Each
      Person holding or acquiring any Ownership Interest in a Residual Certificate
      shall be a Permitted Transferee who acquires such Ownership Interest in a
      Residual Certificate for its own account and not in the capacity as trustee,
      nominee or agent for another Person and shall promptly notify the Certificate
      Registrar and the Trustee of any change or impending change in its status as
      such a Permitted Transferee.

     

    (ii) No
      Ownership Interest in a Residual Certificate may be registered on the Closing
      Date and no Ownership Interest in a Residual Certificate may thereafter be
      transferred, and the Certificate Registrar shall not register the Transfer
      of a
      Residual Certificate unless, in addition to the certificates required to be
      delivered under subsection (d) above, the Trustee and the Certificate Registrar
      shall have been furnished with an affidavit (“Transfer
      Affidavit”)
      of the
      initial owner of such Residual Certificate or proposed transferee of a Residual
      Certificate in the form attached hereto as Exhibit L.

     

    (iii) In
      connection with any proposed transfer of any Ownership Interest in a Residual
      Certificate, the Trustee and the Certificate Registrar shall as a condition
      to
      registration of the transfer, require delivery to them of a Transferor
      Certificate in the form of Exhibit K hereto from the proposed transferor to
      the
      effect that the transferor (a) has no knowledge the proposed Transferee is
      not a
      Permitted Transferee acquiring an Ownership Interest in such Residual
      Certificate for its own account and not in a capacity as trustee, nominee,
      or
      agent for another Person, and (b) has not undertaken the proposed transfer
      in
      whole or in part to impede the assessment or collection of tax.

     

    (iv) Any
      attempted or purported Transfer of any Ownership Interest in a Residual
      Certificate in violation of the provisions of this Section shall be absolutely
      null and void and shall vest no rights in the purported transferee. If any
      purported transferee shall, in violation of the provisions of this Section,
      become a Holder of such Residual Certificate, then the prior Holder of such
      Residual Certificate that is a Permitted Transferee shall, upon discovery that
      the registration of Transfer of such Residual Certificate was not in fact
      permitted by this Section, be restored to all rights as Holder thereof
      retroactive to the date of registration of transfer of such Residual
      Certificate. None of the Trustee, the Certificate Registrar or the Depositor
      shall have any liability to any Person for any registration of Transfer of
      a
      Residual Certificate that is in fact not permitted by this Section or for the
      Paying Agent making any distributions due on the Residual Certificate to the
      Holder thereof or taking any other action with respect to such Holder win the
      provisions of this Agreement so long as the Trustee and the Certificate
      Registrar received the documents specified in clause (iii). The Certificate
      Registrar shall be entitled to recover from any Holder of such Residual
      Certificate that was in fact not a Permitted Transferee at the time such
      distributions were made all distributions made on such Residual Certificate.
      Any
      such distributions so recovered by the Certificate Registrar shall be
      distributed and delivered by the Certificate Registrar to the last Holder of
      such Residual Certificate that is a Permitted Transferee.

     112

  

  

    (v) If
      any
      Person other than a Permitted Transferee acquires any Ownership Interest in
      a
      Residual Certificate in violation of the restrictions in this Section, then
      the
      Certificate Registrar shall have the right but not the obligation, without
      notice to the Holder of such Residual Certificate or any other Person having
      an
      Ownership Interest therein, to notify the Depositor to arrange for the sale
      of
      such Residual Certificate. The proceeds of such sale, net of commissions (which
      may include commissions payable to the Depositor or its affiliates in connection
      with such sale), expenses and taxes due, if any, will be remitted by the
      Certificate Registrar to the previous Holder of such Residual Certificate that
      is a Permitted Transferee, except that in the event that the Certificate
      Registrar determines that the Holder of such Residual Certificate may be liable
      for any amount due under this Section or any other provisions of this Agreement,
      the Certificate Registrar may withhold a corresponding amount from such
      remittance as security for such claim. The terms and conditions of any sale
      under this clause (v) shall be determined in the sole discretion of the Trustee
      and the Certificate Registrar and they shall not be liable to any Person having
      an Ownership Interest in such Residual Certificate as a result of its exercise
      of such discretion.

     

    (vi) If
      any
      Person other than a Permitted Transferee acquires any Ownership Interest in
      a
      Residual Certificate in violation of the restrictions in this Section, then
      the
      Trustee upon receipt of reasonable compensation will provide to the Internal
      Revenue Service, and to the persons specified in Sections 860E(e)(3) and (6)
      of
      the Code, information needed to compute the tax imposed under Section 860E(e)(5)
      of the Code on transfers of residual interests to disqualified
      organizations.

     

    The
      foregoing provisions of this Section shall cease to apply to transfers occurring
      on or after the date on which there shall have been delivered to the Certificate
      Registrar and the Servicer, in form and substance satisfactory to the
      Certificate Registrar, (i) written notification from each Rating Agency that
      the
      removal of the restrictions on Transfer set forth in this Section will not
      cause
      such Rating Agency to downgrade its ratings of the Certificates (determined
      in
      the case of the Insured Certificates, without giving effect to the Certificate
      Insurance Policy) and (ii) an Opinion of Counsel to the effect that such removal
      will not cause the REMIC created hereunder to fail to qualify as a
      REMIC.

     

    (f) Notwithstanding
      any provision to the contrary herein, so long as a Restricted Global Security
      or
      Regulation S Global Security, as applicable, representing the Certificates
      remains outstanding and is held by or on behalf of the Depository, transfers
      of
      a Restricted Global Security or Regulation S Global Security, as applicable,
      representing the Certificates, in whole or in part, shall only be made in
      accordance with Section 6.01 and this Section 6.02(f).

     

    (i) Subject
      to clauses (ii) and (iii) of this Section 6.02(f), transfers of a Restricted
      Global Security or Regulation S Global Security, as applicable, representing
      the
      Certificates shall be limited to transfers of such a Restricted Global Security
      or Regulation S Global Security, as applicable, in whole, but not in part,
      to
      nominees of the Depository or to a successor of the Depository or such
      successor’s nominee.

     113

  

  

    (ii) Restricted
      Global Security to Regulation S Global Security.
      If a
      holder of a beneficial interest in a Restricted Global Security deposited with
      or on behalf of the Depository wishes at any time to exchange its interest
      in
      such Restricted Global Security for an interest in a Regulation S Global
      Security, or to transfer its interest in such Restricted Global Security to
      a
      Person who wishes to take delivery thereof in the form of an interest in a
      Regulation S Global Security, such holder, provided such holder is not a U.S.
      Person, may, subject to the rules and procedures of the Depository, exchange
      or
      cause the exchange of such interest for an equivalent beneficial interest in
      the
      Regulation S Global Security. Upon receipt by the Certificate Registrar of
      (A)
      instructions from the Depository directing the Certificate Registrar to cause
      to
      be credited a beneficial interest in a Regulation S Global Security in an amount
      equal to the beneficial interest in such Restricted Global Security to be
      exchanged but not less than the minimum denomination applicable to such
      Certificateholders’ held through a Regulation S Global Security, (B) a written
      order given in accordance with the Depository’s procedures containing
      information regarding the participant account of the Depository and, in the
      case
      of a transfer pursuant to and in accordance with Regulation S, the Euroclear
      or
      Clearstream account to be credited with such increase and (C) a certificate
      in
      the form of Exhibit J-1 hereto given by the holder of such beneficial interest
      stating that the exchange or transfer of such interest has been made in
      compliance with the transfer restrictions applicable to the Global Securities,
      including that the holder is not a U.S. Person and pursuant to and in accordance
      with Regulation S, the Certificate Registrar shall reduce the principal amount
      of the Restricted Global Security and increase the principal amount of the
      Regulation S Global Security by the aggregate principal amount of the beneficial
      interest in the Restricted Global Security to be exchanged, and shall instruct
      Euroclear or Clearstream, as applicable, concurrently with such reduction,
      to
      credit or cause to be credited to the account of the Person specified in such
      instructions a beneficial interest in the Regulation S Global Security equal
      to
      the reduction in the principal amount of the Restricted Global
      Security.

     

    (iii) Regulation
      S Global Security to Restricted Global Security.
      If a
      holder of a beneficial interest in a Regulation S Global Security deposited
      with
      or on behalf of the Depository wishes at any time to transfer its interest
      in
      such Regulation S Global Security to a Person who wishes to take delivery
      thereof in the form of an interest in a Restricted Global Security, such holder
      may, subject to the rules and procedures of the Depository, exchange or cause
      the exchange of such interest for an equivalent beneficial interest in a
      Restricted Global Security. Upon receipt by the Certificate Registrar of (A)
      instructions from the Depository directing the Certificate Registrar to cause
      to
      be credited a beneficial interest in a Restricted Global Security in an amount
      equal to the beneficial interest in such Regulation S Global Security to be
      exchanged but not less than the minimum denomination applicable to such
      Certificateholder’s Certificates held through a Restricted Global Security, to
      be exchanged, such instructions to contain information regarding the participant
      account with the Depository to be credited with such increase, and (B) a
      certificate in the form of Exhibit J-2 hereto given by the holder of such
      beneficial interest and stating, among other things, that the Person
      transferring such interest in such Regulation S Global Security reasonably
      believes that the Person acquiring such interest in a Restricted Global Security
      is a qualified institutional buyer within the meaning of Rule 144A, is obtaining
      such beneficial interest in a transaction meeting the requirements of Rule
      144A
      and in accordance with any applicable securities laws of any State of the United
      States or any other jurisdiction, then the Certificate Registrar will reduce
      the
      principal amount of the Regulation S Global Security and increase the principal
      amount of the Restricted Global Security by the aggregate principal amount
      of
      the beneficial interest in the Regulation S Global Security to be transferred
      and the Certificate Registrar shall instruct the Depository, concurrently with
      such reduction, to credit or cause to be credited to the account of the Person
      specified in such instructions a beneficial interest in the Restricted Global
      Security equal to the reduction in the principal amount of the Regulation S
      Global Security.

     114

  

  

    (iv) Other
      Exchanges.
      In the
      event that a Restricted Global Security or Regulation S Global Security, as
      applicable, is exchanged for Certificates in definitive registered form without
      interest coupons, such Certificates may be exchanged for one another only in
      accordance with such procedures as are substantially consistent with the
      provisions above (including certification requirements intended to insure that
      such transfers comply with Rule 144A or are to non-U.S. Persons, or otherwise
      comply with Regulation S under the Securities Act, as the case may be, and
      as
      may be from time to time adopted by the Depositor and the Certificate
      Registrar.

     

    (v) Restrictions
      on U.S. Transfers.
      Transfers of interests in the Regulation S Global Security to U.S. persons
      (as
      defined in Regulation S) shall be limited to transfers made pursuant to the
      provisions of Section 6.02(f)(iii).

     

    (g) No
      service charge shall be made for any registration of transfer or exchange of
      Certificates of any Class, 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.

     

    All
      Certificates surrendered for registration of transfer or exchange shall be
      cancelled by the Certificate Registrar and disposed of pursuant to its standard
      procedures.

     

    SECTION
      6.03. Mutilated,
      Destroyed, Lost or Stolen Certificates.

     

    If
      (i)
      any mutilated Certificate is surrendered to the Trustee or the Certificate
      Registrar or the Trustee 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 Depositor, any NIMS Insurer, the Certificate Registrar
      (and
      with respect to the Insured Certificates, the Certificate Insurer) and the
      Depositor such security or indemnity as may be required by them to save each
      of
      them harmless, then, in the absence of notice to the Trustee, the Depositor
      or
      the Certificate Registrar that such Certificate has been acquired by a bona
      fide
      purchaser, the Trustee shall execute on behalf of the Trust Fund and the
      Certificate Registrar shall authenticate and deliver, in exchange for or in
      lieu
      of any such mutilated, destroyed, lost or stolen Certificate, a new Certificate
      of like tenor and Percentage Interest. Upon the issuance of any new Certificate
      under this Section, the Trustee, the Depositor or 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 Depositor and the Certificate Registrar) in
      connection therewith. Any duplicate Certificate issued pursuant to this Section,
      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.

     115

  

  

    SECTION
      6.04. Persons
      Deemed Owners.

     

    The
      Depositor, the Trustee, the Certificate Registrar, the Certificate Insurer
      (with
      respect to the Insured Certificates), the Paying Agent, any NIMS Insurer and
      any
      agent of the Depositor, the Trustee, the Certificate Registrar, the Certificate
      Insurer, the Paying Agent or any NIMS Insurer may treat the Person, including
      a
      Depository, in whose name any Certificate is registered as the owner of such
      Certificate for the purpose of receiving distributions pursuant to Section
      5.01
      hereof and for all other purposes whatsoever, and none of the Trust Fund, the
      Depositor, the Trustee, the Certificate Registrar, the Certificate Insurer,
      the
      Paying Agent, any NIMS Insurer or any agent of any of them shall be affected
      by
      notice to the contrary.

     

    SECTION
      6.05. Appointment
      of Paying Agent.

     

    (a) The
      Trustee, subject to the consent of the NIMS Insurer, may appoint a Paying Agent
      (which may be the Trustee) for the purpose of making distributions to
      Certificateholders hereunder. The Trustee hereby appoints itself as the initial
      Paying Agent. The duties of the Paying Agent may include the obligation (i)
      to
      withdraw funds from the Distribution Account pursuant to Section 4.03 hereof
      and
      (ii) to distribute statements and provide information to Certificateholders
      as
      required hereunder. The Paying Agent hereunder shall at all times be an entity
      duly incorporated and validly existing under the laws of the United States
      of
      America or any state thereof, authorized under such laws to exercise corporate
      trust powers and subject to supervision or examination by federal or state
      authorities. 

     

    (b) The
      Trustee, as Paying Agent, shall hold all sums, if any, held by it for payment
      to
      the Certificateholders in trust for the benefit of the Certificateholders
      entitled thereto until such sums shall be paid to such Certificateholders and
      shall comply with all requirements of the Code regarding the withholding of
      payments in respect of federal income taxes due from Certificate Owners and
      otherwise comply with the provisions of this Agreement applicable to
      it.

     

    ARTICLE
      VII

     

    DEFAULT

     

    SECTION
      7.01. Event
      of Default. 

     

    (a) If
      an
      Event of Default described in a Servicing Agreement (other than an Event of Default under Section
	  14.01 (ix)) shall occur and be
      continuing, then, and in each and every such case, so long as an Event of
      Default shall not have been remedied within the applicable grace period, the
      Trustee may, and at the written direction of the Holders of Certificates
      evidencing Voting Rights aggregating not less than 51%, shall, by notice then
      given in writing to the Servicer, terminate all of the rights and obligations
      of
      the Servicer as servicer under this Agreement. Any such notice to the Servicer
      shall also be given to the Rating Agencies, the Depositor, the Certificate
      Insurer and the Seller. The Trustee, upon a Responsible Officer having actual
      knowledge of such default, shall deliver a written notice to the Servicer of
      the
      Event of Default on any Servicer Remittance Date on which the Servicer fails
      to
      make any deposit or payment required pursuant to the Servicing Agreement
      (including but not limited to Advances to the extent required pursuant to the
      Servicing Agreement). Pursuant to the Servicing Agreement, on or after the
      receipt by the Servicer (and by the Trustee if such notice is given by the
      Certificate Insurer or the Holders) of such written notice, all authority and
      power of the Servicer under the Servicing Agreement, with respect to the
      Mortgage Loans or otherwise, shall pass to and be vested in the Trustee and
      the
      Trustee is hereby authorized and empowered to execute and deliver, on behalf
      of
      the 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 of each Mortgage Loan and related
      documents or otherwise. 

     116

  

  

    SECTION
      7.02. Trustee
      to Act.

     

    (a) From
      and
      after the date the Servicer (and the Trustee, if notice is sent by the
      Certificate Insurer or the Holders) receives a notice of termination pursuant
      to
      Section 7.01, the Trustee immediately shall be the successor in all respects
      to
      the Servicer in its capacity as servicer under the Servicing Agreement and
      the
      transactions set forth or provided for herein and shall be subject to all the
      responsibilities, duties and liabilities relating thereto placed on the Servicer
      by the terms and provisions hereof arising on and after its succession,
      including the immediate obligation to make Advances. As compensation therefor,
      the Trustee shall be entitled to such compensation as the Servicer would have
      been entitled to under the Servicing Agreement if no such notice of termination
      had been given. Notwithstanding the above, (i) if the Trustee is unwilling
      to
      act as successor Servicer or (ii) if the Trustee is legally unable so to act,
      the Trustee shall appoint or petition a court of competent jurisdiction to
      appoint, any established housing and home finance institution, bank or other
      mortgage loan or home equity loan servicer having a net worth of not less than
      $15,000,000 as the successor to the Servicer under the Servicing Agreement
      in
      the assumption of all or any part of the responsibilities, duties or liabilities
      of the Servicer under the Servicing Agreement; provided,
      that
      the
      appointment of any such successor Servicer shall not result in the
      qualification, reduction or withdrawal of the ratings assigned to the
      Certificates by each Rating Agency as evidenced by a letter to such effect
      from
      such Rating Agency. Pending appointment of a successor to the Servicer under
      the
      Servicing Agreement, unless the Trustee is prohibited by law from so acting,
      the
      Trustee shall act in such capacity as hereinabove provided. In connection with
      such appointment and assumption, the successor shall be entitled to receive
      compensation out of payments on Mortgage Loans in an amount equal to the
      compensation which the Servicer would otherwise have received hereunder. Except
      with respect to the making of Advances the defaulting Servicer was required
      to
      make but did not make, the successor Servicer, including the Trustee in such
      capacity, shall not be liable for any acts or omissions of the predecessor
      Servicer or for any breach by such Servicer of any of its representations or
      warranties made by it in the Servicing Agreement or in any related document
      or
      agreement. The Trustee and such successor shall take such action, consistent
      with this Agreement, as shall be necessary to effectuate any such succession.
      

     

    (b) Any
      successor, including the Trustee, to the Servicer under the Servicing Agreement
      shall during the term of its service as Servicer continue to service and
      administer the Mortgage Loans for the benefit of Certificateholders and the
      Certificate Insurer pursuant to the terms and conditions of the Servicing
      Agreement, and maintain in force a policy or policies of insurance covering
      errors and omissions in the performance of its obligations as Servicer under
      the
      Servicing Agreement.

     117

  

  

    (c) Notwithstanding
      anything else herein to the contrary, in no event shall the Trustee be liable
      for any servicing fee or for any differential in the amount of the servicing
      fee
      paid hereunder and the amount necessary to induce any successor Servicer to
      act
      as successor Servicer under this Agreement and the transactions set forth or
      provided for herein.

     

    (d) The
      Trustee shall be entitled to be reimbursed by the Trust Fund (pursuant to
      Section 4.03(a)(xii)), in the event that the Servicer does not reimburse the
      Trustee under the Servicing Agreement, for all costs associated with the
      transfer of servicing from the predecessor Servicer, including, without
      limitation, any costs or expenses associated with the termination of the
      predecessor Servicer, the appointment of a successor servicer, the complete
      transfer of all servicing data and the completion, correction or manipulation
      of
      such servicing data as may be required by the Trustee or any successor servicer
      to correct any errors or insufficiencies in the servicing data or otherwise
      to
      enable the Trustee or successor servicer to service the Mortgage Loans property
      and effectively.

    

    SECTION
      7.03. Waiver
      of Event of Default.

     

    The
      Majority Certificateholders may, on behalf of all Certificateholders, by notice
      in writing to the Trustee, direct the Trustee to waive any events permitting
      removal of the Servicer under this Agreement, provided,
      however,
      that
      the Majority Certificateholders may not waive an event that results in a failure
      to make any required distribution on a Certificate without the consent of the
      Holder of such Certificate. Upon any waiver of an Event of Default, such event
      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 event or impair any right consequent thereto
      except to the extent expressly so waived. Notice of any such waiver shall be
      given by the Trustee to each Rating Agency and the Certificate
      Insurer.

     

    SECTION
      7.04. Notification
      to Certificateholders.

     

    (a) Upon
      any
      termination or appointment of a successor to the Servicer pursuant to this
      Article VII, the Trustee shall give prompt written notice thereof to the
      Certificateholders at their respective addresses appearing in the Certificate
      Register, to each Rating Agency, to any NIMS Insurer and the Certificate
      Insurer.

     

    (b) No
      later
      than 60 days after the occurrence of any event which constitutes or which,
      with
      notice or a lapse of time or both, would constitute an Event of Default of
      which
      a Responsible Officer of the Trustee becomes aware of the occurrence of such
      an
      event, the Trustee shall transmit by mail to all Certificateholders, any NIMS
      Insurer and the Certificate Insurer notice of such occurrence unless such Event
      of Default shall have been waived or cured.

     118

  

  

    ARTICLE
      VIII

     

    THE
      TRUSTEE

     

    SECTION
      8.01. Duties
      of the Trustee.

     

    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, undertakes to perform
      such duties and only such duties as are specifically set forth in this
      Agreement. If an Event of Default has occurred (which has not been cured or
      waived) of which a Responsible Officer has actual knowledge, the Trustee shall
      exercise such of the rights and powers vested in it by this Agreement, and
      use
      the same degree of care and skill in their exercise, as a prudent man would
      exercise or use under the circumstances in the conduct of his own
      affairs.

     

    The
      Trustee, upon receipt of all resolutions, certificates, statements, opinions,
      reports, documents, orders or other instruments furnished to the Trustee, which
      are specifically required to be furnished pursuant to any provision of this
      Agreement, shall examine them to determine whether they conform to the
      requirements of this Agreement; provided,
      however,
      that
      the Trustee will not be responsible for the accuracy or content of any such
      resolutions, certificates, statements, opinions, reports, documents or other
      instruments. If any such instrument is found not to conform to the requirements
      of this Agreement in a material manner, the Trustee shall take such action
      as it
      deems appropriate to have the instrument corrected. If the instrument is not
      corrected to the satisfaction of the Trustee, the Trustee shall provide notice
      thereof to the Certificateholders and any NIMS Insurer and will, at the expense
      of the Trust Fund, which expense shall be reasonable given the scope and nature
      of the required action, take such further action as directed by the
      Certificateholders or any NIMS Insurer.

     

    On
      each
      Distribution Date, the Trustee, as Paying Agent, shall make monthly
      distributions the Certificateholders from funds in the Distribution Account,
      the
      Basis Risk Reserve Fund, the Yield Maintenance Account, the Class 2A-1C2 Yield
      Maintenance Account and the Final Maturity Reserve Account, as applicable,
      in
      each case as provided in Sections 5.01, 5.07, 5.09, 5.12 and 10.01
      herein.

     

    No
      provision of this Agreement shall be construed to relieve the Trustee 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 of all such Events
      of Default which may have occurred, the duties and obligations of the Trustee
      shall be determined solely by the express provisions of this Agreement, the
      Trustee shall not be liable except for the performance of such of its 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
      and, in the absence of bad faith on the part of the Trustee, the Trustee 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 and conforming to the requirements of this Agreement;

119

(ii) the
      Trustee shall not be liable for an error of judgment made in good faith by
      a
      Responsible Officer of the Trustee unless it shall be proved that the Trustee
      was negligent in ascertaining or investigating the facts related
      thereto;

     

    (iii) the
      Trustee shall not be personally liable with respect to any action taken,
      suffered or omitted to be taken by it in good faith in accordance with the
      consent or at the direction of any NIMS Insurer or Holders of Certificates
      as
      provided herein relating to the time, method and place of conducting any remedy
      pursuant to this Agreement, or exercising or omitting to exercise any trust
      or
      power conferred upon the Trustee under this Agreement; 

     

    (iv) the
      Trustee shall not be responsible for any act or omission of the Servicer (except
      in its capacity as successor servicer to the extent provided in Section
      7.02(a)), the Depositor, the Seller or the Custodian; and

     

    (v) the
      Trustee shall not be charged with knowledge of any Event of Default unless
      a
      Responsible Officer of the Trustee at the Corporate Trust Office obtains actual
      knowledge of such failure or the Trustee receives written notice at the
      Corporate Trust Office of such Event of Default.

     

    The
      Trustee shall not appoint any Subcontractor without receiving the prior written
      consent of the Depositor to appoint any Subcontractor, which consent shall
      not
      be unreasonably withheld. If the Trustee appoints a Subcontractor without
      receiving such prior written consent, the Trustee shall be deemed to be in
      breach of this Agreement and may be removed by the Depositor.

     

    The
      Trustee shall promptly notify the Depositor and the Sponsor of knowledge thereof
      (i) of any legal proceedings pending against the Trustee of the type described
      in Item 1117 (§ 229.1117) of Regulation AB and (ii) if the Trustee shall become
      (but only to the extent not previously disclosed) at any time an affiliate
      of
      any of the responsible parties listed on Exhibit O. On or before March 1 of
      each
      year, the Depositor shall distribute the information on Exhibit O to the
      Trustee.

     

    The
      Trustee shall not be required to expend or risk its own funds or otherwise
      incur
      financial or other 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 indemnity satisfactory to
      it
      against such risk or liability is not assured to it, and none of the provisions
      contained in this Agreement shall in any event require the Trustee to perform,
      or be responsible for the manner of performance of, any of the obligations
      of
      the Servicer under the Servicing Agreement, 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 Servicer in accordance with the terms of the
      Servicing Agreement.

120

    SECTION
      8.02. Certain
      Matters Affecting the Trustee.

     

    Except
      as
      otherwise provided in Section 8.01 hereof:

     

    (i) the
      Trustee may request and conclusively rely upon, and shall be fully protected
      in
      acting or refraining from acting upon, any resolution, Officers’ Certificate,
      certificate of auditors or any other certificate, statement, instrument,
      opinion, report, notice, request, consent, order, appraisal, bond or other
      paper
      or document reasonably believed by it to be genuine and to have been signed
      or
      presented by the proper party or parties, and the manner of obtaining consents
      and of evidencing the authorization of the execution thereof by
      Certificateholders shall be subject to such reasonable regulations as the
      Trustee may prescribe;

     

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

     

    (iii) the
      Trustee shall not be under any obligation to exercise any of the rights or
      powers vested in it by 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 or any NIMS Insurer pursuant to the provisions
      of this Agreement, unless such Certificateholders or any NIMS Insurer shall
      have
      offered to the Trustee reasonable security or indemnity satisfactory to it
      against the costs, expenses and liabilities which may be incurred therein or
      thereby; the right of the Trustee to perform any discretionary act enumerated
      in
      this Agreement shall not be construed as a duty, and the Trustee shall not
      be
      answerable for other than its negligence or willful misconduct in the
      performance of any such act;

     

    (iv) the
      Trustee shall not be personally liable for any action taken, suffered or omitted
      by it in good faith and believed by it to be authorized or within the discretion
      or rights or powers conferred upon it by this Agreement;

     

    (v) prior
      to
      the occurrence of an Event of Default and after the curing or waiver of all
      Events of Default which may have occurred, the Trustee shall not 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 documents, unless requested in writing
      to do so by any NIMS Insurer or the Majority Certificateholder; provided,
      however,
      that if
      the payment within a reasonable time to the Trustee 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 not reasonably assured to the Trustee by the
      security afforded to it by the terms of this Agreement, the Trustee may require
      reasonable indemnity against such cost, expense, liability or payment of such
      estimated expenses from any NIMS Insurer or the Certificateholders, as
      applicable, as a condition to such proceeding. If the Servicer fails to
      reimburse the Trustee in respect of the reasonable expense of every such
      examination relating to the Servicer, the Trustee shall be reimbursed by the
      Trust Fund;

     

    (vi) the
      Trustee shall not be accountable, shall have no liability and makes no
      representation as to any acts or omissions hereunder of the Servicer until
      such
      time as the Trustee may be required to act as the Servicer pursuant to Section
      7.02 hereof and thereupon only for the acts or omissions of the Trustee as
      a
      successor Servicer; 

121

    (vii) the
      Trustee may execute any of the trusts or powers hereunder or perform any duties
      hereunder either directly or by or through agents, nominees, attorneys or a
      custodian, and shall not be responsible for any willful misconduct or negligence
      on the part of any agent, nominee, attorney or custodian appointed by the
      Trustee in good faith;

     

    (viii) the
      right
      of the Trustee to perform any discretionary act enumerated in this Agreement
      shall not be construed as a duty, and the Trustee shall not be answerable for
      other than its negligence or willful misconduct in the performance of such
      act;
      and

     

    (ix) in
      order
      to comply with laws, rules, regulations and executive orders in effect from
      time
      to time applicable to banking institutions, including those relating to the
      funding of terrorist activities and money laundering (“Applicable Law”), the
      Trustee is required to obtain, verify and record certain information relating
      to
      certain individuals and certain entities which maintain a business relationship
      with the Trustee. Accordingly, each of the parties agrees to provide the Trustee
      upon its request from time to time such identifying information and
      documentation as may be available for such party in order to enable the Trustee
      to comply with Applicable Law.

     

    It
      is
      expressly understood and agreed that the Trustee shall be entitled to all the
      rights, protections, immunities, and indemnities set forth herein, with respect
      to the Reconstitution Agreement, the Servicing Agreement, and the Custodial
      Agreement, and any actions taken or omitted by the Trustee pursuant to the
      terms
      thereof, as if such rights, protections, immunities, and indemnities were
      specifically set forth therein.

    

    SECTION
      8.03. Trustee
      Not Liable for Certificates or Mortgage Loans.

     

    The
      recitals contained herein and in the Certificates (other than the authentication
      and countersignature on the Certificates) shall be taken as the statements
      of
      the Depositor or the Seller, and the Trustee assumes no responsibility for
      the
      correctness of the same. The Trustee makes no representations or warranties
      as
      to the validity or sufficiency of this Agreement or of the Certificates (other
      than the countersignature and authentication on the Certificates) or of any
      Mortgage Loan or related document or of MERS or the MERS System. The Trustee
      shall not at any time have any responsibility or liability for or with respect
      to the legality, validity and enforceability of the Certificate Insurance
      Policy, 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,
      including, without limitation: the existence, condition and ownership of any
      Mortgaged Property; the existence and enforceability of any hazard insurance
      thereon (other than if the Trustee shall assume the duties of the Servicer
      pursuant to Section 7.02 hereof); the validity of the assignment of any Mortgage
      Loan to the Trustee or of any intervening assignment; the completeness of any
      Mortgage Loan; the performance or enforcement of any Mortgage Loan (other than
      if the Trustee shall assume the duties of the Servicer pursuant to Section
      7.02
      hereof); the compliance by the Depositor or the Seller with any warranty or
      representation made under this Agreement or in any related document or the
      accuracy of any such warranty or representation prior to the Trustee’s receipt
      of notice or other discovery of any non-compliance therewith or any breach
      thereof; the acts or omissions of the Servicer (other than if the Trustee shall
      assume the duties of the Servicer pursuant to Section 7.02 hereof, and then
      only
      for the acts or omissions of the Trustee as the successor Servicer); or any
      action by the Trustee taken at the instruction of the Servicer (other than
      if
      the Trustee shall assume the duties of the Servicer pursuant to Section 7.02
      hereof, and then only for the actions of the Trustee as the successor Servicer);
      provided,
      however,
      that
      the foregoing shall not relieve the Trustee of its obligation to perform its
      duties under this Agreement, including, without limitation, the Trustee’s duty
      to review the Mortgage Files, if so required pursuant to Section 2.01 of this
      Agreement.

122

    SECTION
      8.04. Trustee
      and Custodian May Own Certificates.

     

    The
      Trustee and the Custodian, in their respective individual capacities, or in
      any
      capacity other than as Trustee or Custodian hereunder, may become the owner
      or
      pledgee of any Certificates with the same rights they would have if they were
      not Trustee or Custodian, as applicable, and may otherwise deal with the parties
      hereto.

     

    SECTION
      8.05. Trustee’s
      Fees and Expenses.

     

    The
      Trustee shall be compensated by the Trustee Fee as compensation for its services
      hereunder. In addition, the Trustee will be entitled to recover from the
      Distribution Account pursuant to Section 4.03(a) all reasonable out-of-pocket
      expenses, disbursements and advances, including without limitation, in
      connection with any filing that the Trustee is required to make under Section
      3.07 hereof, any Event of Default, any breach of this Agreement or any claim
      or
      legal action (including any pending or threatened claim or legal action)
      incurred or made by the Trustee in the performance of its duties or the
      administration of the trusts hereunder (including, but not limited to, the
      performance of its duties under Section 2.03 hereof) or under the Certificate
      Insurance Policy (including the reasonable compensation, expenses and
      disbursements of its counsel) or incurred or made by the Trustee under each
      of
      the Yield Maintenance Allocation Agreement, the Yield Maintenance Agreement
      and
      the Class 2A-1C2 Yield Maintenance Agreement (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 specifically designated herein as the responsibility
      of
      the Depositor, the Seller, the Certificateholders or the Trust Fund hereunder
      or
      thereunder. If funds in the Distribution Account are insufficient therefor,
      the
      Trustee shall recover such expenses from future collections on the Mortgage
      Loans or as otherwise agreed by the Certificateholders. Such compensation and
      reimbursement obligation shall not be limited by any provision of law in regard
      to the compensation of a trustee of an express trust.

     

    SECTION
      8.06. Eligibility
      Requirements for Trustee.

     

    The
      Trustee hereunder shall at all times be an entity duly organized and validly
      existing under the laws of the United States of America or any state thereof,
      authorized under such laws to exercise corporate trust powers, each having
      a
      combined capital and surplus of at least $50,000,000 and (except with respect
      to
      the initial Trustee) a minimum long-term debt rating in the third highest rating
      category by each Rating Agency and in each Rating Agency’s two highest
      short-term rating categories, and subject to supervision or examination by
      federal or state authority. If such entity 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 8.06,
      the combined capital and surplus of such entity shall be deemed to be its
      combined capital and surplus as set forth in its most recent report of condition
      so published. The principal office of the Trustee (other than the initial
      Trustee) shall be in a state with respect to which an Opinion of Counsel has
      been delivered to such Trustee at the time such Trustee is appointed Trustee
      to
      the effect that the Trust Fund will not be a taxable entity under the laws
      of
      such state. In case at any time the Trustee shall cease to be eligible in
      accordance with the provisions of this Section 8.06, the Trustee shall resign
      immediately in the manner and with the effect specified in Section 8.07
      hereof.

123

    SECTION
      8.07. Resignation
      or Removal of Trustee.

     

    The
      Trustee (including the Trustee as Certificate Registrar) may at any time resign
      and be discharged from the trust hereby created by giving written notice thereof
      to the Depositor, the Certificate Insurer, the Seller, any NIMS Insurer and
      each
      Rating Agency. Upon receiving such notice of resignation of the Trustee, the
      Depositor shall promptly appoint a successor Trustee that meets the requirements
      in Section 8.06 and is reasonably acceptable to any NIMS Insurer and the
      Certificate Insurer or, in the case of notice of resignation of the Trustee
      (in
      consultation with the Depositor) shall promptly appoint a successor Trustee
      that
      meets the requirements in Section 8.06 and is reasonably acceptable to any
      NIMS
      Insurer and the Certificate Insurer, in each case, by written instrument, with
      a
      copy of such written instrument delivered to (i) the resigning Trustee, (ii)
      the
      successor Trustee, (iii) any NIMS Insurer and (iv) the Certificate Insurer.
      If
      no successor Trustee shall have been so appointed and having accepted
      appointment within 30 days after the giving of such notice of resignation,
      the
      resigning Trustee may petition any court of competent jurisdiction for the
      appointment of a successor Trustee.

     

    If
      at any
      time the Trustee (a) shall cease to be eligible in accordance with the
      provisions of Section 8.06 hereof shall fail to resign after written request
      therefor by the Depositor or any NIMS Insurer or if at any time the Trustee,
      (b)
      shall be legally unable to act, or shall be adjudged a bankrupt or insolvent,
      or
      a receiver of the Trustee or of its property shall be appointed, or any public
      officer shall take charge or control of the Trustee or of its property or
      affairs for the purpose of rehabilitation, conservation or liquidation, (c)
      shall fail to deliver to the Depositor and the Sponsor the assessment of
      compliance or an attestation report required under Section 3.04 hereto within
      15
      calendar days of March 1 of each calendar year in which Exchange Act reports
      are
      required or (d) shall fail to file any Form 10-D or Form 10-K when due pursuant
      to Section 3.07 hereof (other than as a result of the failure of the Depositor
      to sign and return to the Trustee such Form 10-D or Form 10-K within the time
      limitations of Section 3.07 or any other party to deliver information in a
      timely manner as set forth in Section 3.07), then the Depositor or any NIMS
      insurer may immediately remove the Trustee. If the Depositor removes the Trustee
      under the authority of the immediately preceding sentence, the Depositor shall
      promptly appoint a successor Trustee reasonably acceptable to the NIMS Insurer
      and that meets the requirements of Section 8.06, by written instrument, with
      a
      copy of such written instrument delivered to (i) the Trustee so removed, (ii)
      the successor Trustee, (iii) to the Certificate Insurer and (iv) to any NIMS
      Insurer.

124

    The
      Majority Certificateholders (or any NIMS Insurer in the event of failure of
      the
      Trustee to perform its obligations hereunder) may at any time remove the Trustee
      by written instrument or instruments delivered to the Depositor and the Trustee;
      the Depositor or the Trustee shall thereupon use its best efforts to appoint
      a
      successor Trustee acceptable to the NIMS Insurer, in accordance with this
      Section.

     

    Any
      resignation or removal of the Trustee and appointment of a successor Trustee
      pursuant to any of the provisions of this Section 8.07 shall not become
      effective until acceptance of appointment by the successor Trustee, as provided
      in Section 8.08 hereof. As long as the Certificate Insurance Policy is in
      effect, the Trustee will send a written notice to the Certificate Insurer of
      any
      such resignation, removal or appointment. If the Trustee is removed pursuant
      to
      this Section 8.07, it shall be reimbursed any outstanding and unpaid fees and
      expenses, and if removed under the authority of the immediately preceding
      paragraph, the Trustee or the shall also be reimbursed any outstanding and
      unpaid costs and expenses.

     

    SECTION
      8.08. Successor
      Trustee.

     

    Any
      successor Trustee appointed as provided in Section 8.07 hereof shall execute,
      acknowledge and deliver to the Depositor, any NIMS Insurer, the Seller, its
      predecessor Trustee and, as long as the Certificate Insurance Policy is in
      effect, the Certificate Insurer, an instrument accepting such appointment
      hereunder, and thereupon the resignation or removal of the predecessor Trustee
      shall become effective, and such successor Trustee, 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. The Depositor, the Seller, the predecessor Trustee
      and, as long as the Certificate Insurance Policy is in effect, the Certificate
      Insurer shall execute and deliver such instruments and do such other things
      as
      may reasonably be required for fully and certainly vesting and confirming in
      the
      successor Trustee all such rights, powers, duties and obligations.

     

    No
      successor Trustee shall accept appointment as provided in this Section 8.08
      unless at the time of such acceptance such successor Trustee shall be eligible
      under the provisions of Section 8.06 hereof and the appointment of such
      successor Trustee shall not result in a downgrading of the Senior Certificates
      by each Rating Agency, as evidenced by a letter from each Rating
      Agency.

     

    Upon
      acceptance of appointment by a successor Trustee, as provided in this Section
      8.08, the successor Trustee shall mail notice of such appointment hereunder
      to
      all Holders of Certificates at their addresses as shown in the Certificate
      Register, to the Certificate Insurer, to any NIMS Insurer and to each Rating
      Agency.

     

    SECTION
      8.09. Merger
      or Consolidation of Trustee.

     

    Any
      entity into which the Trustee may be merged or converted or with which it may
      be
      consolidated, or any entity resulting from any merger, conversion or
      consolidation to which the Trustee shall be a party, or any entity succeeding
      to
      the corporate trust business of the Trustee shall be the successor of the
      Trustee hereunder, provided such entity shall be eligible under the provisions
      of Section 8.06 and 8.08 hereof, 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.

125

    SECTION
      8.10. Appointment
      of Co-Trustee or Separate Trustee.

     

    Notwithstanding
      any other provisions of this Agreement, at any time, for the purpose of meeting
      any legal requirements of any jurisdiction in which any part of the Trust Fund
      or any Mortgaged Property may at the time be located, the Depositor and the
      Trustee acting jointly shall have the power, and the Trustee shall, and shall
      instruct the Depositor to, at the expense of the Trust Fund, execute and deliver
      all instruments to appoint one or more Persons, approved by the Trustee and
      any
      NIMS Insurer 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 Fund,
      and
      to vest in such Person or Persons, in such capacity and for the benefit of
      the
      Certificateholders and the Certificate Insurer, such title to the Trust Fund,
      or
      any part thereof, and, subject to the other provisions of this Section 8.10,
      such powers, duties, obligations, rights and trusts as the Depositor and the
      Trustee may consider necessary or desirable. No co-trustee or separate trustee
      hereunder shall be required to meet the terms of eligibility as a successor
      Trustee under Section 8.06 hereof, and no notice to Certificateholders of the
      appointment of any co-trustee or separate trustee shall be required under
      Section 8.08 hereof.

     

    Every
      separate trustee and co-trustee shall, to the extent permitted by law, be
      appointed and act subject to the following provisions and
      conditions:

     

    (i) all
      rights, powers, duties and obligations conferred or imposed upon the Trustee
      shall be conferred or imposed upon and exercised or performed by the Trustee
      and
      such separate trustee or co-trustee jointly (it being understood that such
      separate trustee or co-trustee is not authorized to act separately without
      the
      Trustee joining in such act), 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 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 Fund or any portion thereof in any such jurisdiction) shall be exercised
      and performed singly by such separate trustee or co-trustee, but solely at
      the
      direction of the Trustee;

     

    (ii) no
      trustee hereunder shall be held personally liable by reason of any act or
      omission of any other trustee hereunder; and

     

    (iii) the
      Depositor and the Trustee, acting jointly may at any time accept the resignation
      of or remove any separate trustee or co-trustee.

     

    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
      VIII. 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 and a copy thereof given to
      the
      Depositor and any NIMS Insurer.

126

    Any
      separate trustee or co-trustee may, at any time, constitute the Trustee, its
      agent or attorney-in-fact, with full power and authority, to the extent not
      prohibited by law, to do any lawful act under or in respect of 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.

     

    SECTION
      8.11. Limitation
      of Liability.

     

    The
      Certificates are executed by the Trustee, not in its individual capacity but
      solely as Trustee on behalf of the Trust Fund, in the exercise of the powers
      and
      authority conferred and vested in it by this Agreement. Each of the undertakings
      and agreements made on the part of the Trustee in the Certificates is made
      and
      intended not as a personal undertaking or agreement by the Trustee but is made
      and intended for the purpose of binding only the Trust Fund.

     

    SECTION
      8.12. Trustee
      May Enforce Claims Without Possession of Certificates.

     

    (a) All
      rights of action and claims under this Agreement or the Certificates may be
      prosecuted and enforced by the Trustee without the possession of any of the
      Certificates or the production thereof in any proceeding relating thereto,
      and
      such proceeding instituted by the Trustee shall be brought in its own name
      or in
      its capacity as Trustee for the benefit of all Holders of such Certificates,
      subject to the provisions of this Agreement. Any recovery of judgment shall,
      after provision for the payment of the reasonable compensation, expenses,
      disbursement and advances of the Trustee (for the avoidance of doubt, in its
      individual capacity and as Trustee on behalf of the Trust Fund), its agents
      and
      counsel, be for the ratable benefit or the Certificateholders in respect of
      which such judgment has been recovered.

     

    (b) The
      Trustee shall afford the Seller, the Depositor, the Certificate Insurer and
      each
      Certificateholder upon reasonable notice during normal business hours at its
      Corporate Trust Office or other office designated by the Trustee, access to
      all
      records maintained by the Trustee in respect of its duties hereunder and access
      to officers of the Trustee responsible for performing such duties. Upon request,
      the Trustee shall furnish the Depositor, the Certificate Insurer and any
      requesting Certificateholder with its most recent audited financial statements.
      The Trustee shall cooperate fully with the Seller, the Depositor, the
      Certificate Insurer and such Certificateholder and shall, subject to the first
      sentence of this Section 8.12(b), make available to the Seller, the Depositor,
      the Certificate Insurer and such Certificateholder for review and copying such
      books, documents or records as may be requested with respect to the Trustee’s
      duties hereunder. The Seller, the Depositor, the Certificate Insurer and the
      Certificateholders shall not have any responsibility or liability for any action
      or failure to act by the Trustee and are not obligated to supervise the
      performance of the Trustee under this Agreement or otherwise.

127

    SECTION
      8.13. Suits
      for Enforcement.

     

    In
      case
      an Event of Default or a default by the Depositor hereunder shall occur and
      be
      continuing, the Trustee may proceed to protect and enforce its rights and the
      rights of the Certificateholders under this Agreement, as the case may be,
      by a
      suit, action or proceeding in equity or at law or otherwise, whether for the
      specific performance of any covenant or agreement contained in this Agreement
      or
      in aid of the execution of any power granted in this Agreement or for the
      enforcement of any other legal, equitable or other remedy, as the Trustee,
      being
      advised by counsel, and subject to the foregoing, shall deem most effectual
      to
      protect and enforce any of the rights of the Trustee, the Certificate Insurer
      and the Certificateholders.

     

    SECTION
      8.14. Waiver
      of Bond Requirement.

     

    The
      Trustee shall be relieved of, and each Certificateholder hereby waives, any
      requirement of any jurisdiction in which the Trust Fund, or any part thereof,
      may be located that the Trustee post a bond or other surety with any court,
      agency or body whatsoever.

     

    SECTION
      8.15. Waiver
      of Inventory, Accounting and Appraisal Requirement.

     

    The
      Trustee shall be relieved of, and each Certificateholder hereby waives, any
      requirement of any jurisdiction in which the Trust Fund, or any part thereof,
      may be located that the Trustee file any inventory, accounting or appraisal
      of
      the Trust Fund with any court, agency or body at any time or in any manner
      whatsoever.

     

    SECTION
      8.16. Appointment
      of Custodians.

     

    The
      Trustee may, and at the direction of the Depositor shall, appoint one or more
      custodians to hold all or a portion of the related Mortgage Files as agent
      for
      the Trustee, by entering into a custodial agreement. The custodian may at any
      time be terminated and a substitute custodian appointed therefor by the Trustee.
      Subject to this Article VIII, the Trustee agrees to comply with the terms of
      each custodial agreement and to enforce the terms and provisions thereof against
      the custodian for the benefit of the Certificateholders and the Certificate
      Insurer having an interest in any Mortgage File held by such custodian. Each
      custodian shall be a depository institution or trust company subject to
      supervision by federal or state authority, shall have combined capital and
      surplus of at least $15,000,000 and shall be qualified to do business in the
      jurisdiction in which it holds any Mortgage File. The initial custodian of
      the
      Mortgage Loans shall be The Bank of New York. The Bank of New York shall be
      compensated by the Trust Fund for its services as custodian.

     

    SECTION
      8.17. Indemnification.

     

    The
      Trustee and
      its
      respective directors, officers, employees and agents
      shall be
      entitled to indemnification from the Trust Fund incurred hereunder or under
      or
      with respect to any Certificate, the Custodial Agreement, the Servicing
      Agreement or under or pursuant to the Mortgage Loan Purchase Agreement, without
      negligence or willful misconduct on the Trustee’s part, arising out of, or in
      connection with, the acceptance or administration of the trusts created
      hereunder or in connection with the performance of the Trustee’s duties
      hereunder including the costs and expenses of defending themselves against
      any
      claim in connection with the exercise or performance of any of their powers
      or
      duties hereunder, provided
      that:

     

    (i) with
      respect to any such claim, the Trustee shall have given the Depositor written
      notice thereof promptly after the Trustee shall have knowledge thereof;
      and

128

    (ii) notwithstanding
      anything to the contrary in this Section 8.17, the Trust Fund shall not be
      liable for settlement of any such claim by the Trustee entered into without
      the
      prior consent of the Depositor, which consent shall not be unreasonably
      withheld.

     

    The
      provisions of this Section 8.17 shall survive any termination of this Agreement
      and the resignation or removal of the Trustee and shall be construed to include,
      but not be limited to any loss, liability or expense under any environmental
      law. 

     

    SECTION
      8.18. Limitation
      of Liability of Trustee and Administrator; Indemnification.

     

    The
      Trustee shall not at any time have any responsibility or liability for or with
      respect to the legality, validity and enforceability of the Yield Maintenance
      Agreement, the Class 2A-1C2 Yield Maintenance Agreement or the Yield Maintenance
      Allocation Agreement. The Administrator shall not have any liability for any
      failure or delay in payments to the Trustee which are required under the Yield
      Maintenance Allocation Agreement where such failure or delay is due to the
      failure of delay of the Yield Maintenance Provider in making such payment to
      the
      Administrator pursuant to the Yield Maintenance Agreement. In addition,
      notwithstanding anything to the contrary in the Yield Maintenance Agreement
      and
      the Class 2A-1C2 Yield Maintenance Agreement, the Administrator shall not be
      required to make any payment to the Yield Maintenance Provider. Any payment
      to
      the Yield Maintenance Provider shall be paid on behalf of the Administrator
      by
      Greenwich Capital Markets, Inc. The Trustee and the Administrator and their
      respective directors, officers, employees and agents shall be entitled to be
      indemnified and held harmless by the Trust Fund from and against any and all
      losses, claims, expenses or other liabilities that arise by reason of or in
      connection with the performance or observance by the Trustee or the
      Administrator of its respective duties or obligations under the Yield
      Maintenance Allocation Agreement, the Yield Maintenance Agreement or the Class
      2A-1C2 Yield Maintenance Agreement, as applicable, except to the extent that
      the
      same is due to the Administrator’s negligence, willful misconduct or
      fraud.

     

    SECTION
      8.19. Administrator’s
      Fees and Expenses.

     

    The
      Administrator’s fees under the Yield Maintenance Allocation Agreement, the Yield
      Maintenance Agreement and the Class 2A-1C2 Yield Maintenance Agreement shall
      be
      paid from a portion of the Trustee Fee. In addition, the Administrator will
      be
      entitled to recover from the Distribution Account pursuant to Section 4.03(a)
      all reasonable out-of-pocket expenses in the performance of its duties under
      the
      Yield Maintenance Allocation Agreement, the Yield Maintenance Agreement or
      the
      Class 2A-1C2 Yield Maintenance Agreement or the administration of the Yield
      Maintenance Trust (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. If funds in the
      Distribution Account are insufficient therefor, the Administrator shall recover
      such expenses from future collections on the Mortgage Loans or as otherwise
      agreed by the Certificateholders. 

129

    SECTION
      8.20. Resignation
      or Removal of the Administrator.

     

    The
      Administrator may at any time resign and be discharged from its duties and
      obligations under the Yield Maintenance Allocation Agreement by giving written
      notice thereof to the Depositor, the Certificate Insurer, the Seller, GCFP,
      any
      NIMS Insurer, the Trustee and each Rating Agency. Upon receiving such notice
      of
      resignation of the Administrator, GCFP shall promptly appoint a successor
      Administrator that is acceptable to any NIMS Insurer by written instrument,
      in
      triplicate, one copy of which instrument shall be delivered to each of (i)
      the
      resigning Administrator, (ii) the successor Administrator and (iii) any NIMS
      Insurer. If no successor Administrator shall have been so appointed and having
      accepted appointment within 30 days after the giving of such notice of
      resignation, the resigning Administrator may petition any court of competent
      jurisdiction for the appointment of a successor Administrator.

     

    GCFP
      (or
      any NIMS Insurer in the event of failure of the Administrator to perform its
      obligations hereunder) may at any time remove the Administrator by written
      instrument or instruments delivered to GCFP, the Depositor, the Administrator
      and the Trustee; GCFP shall thereupon use its best efforts to appoint a
      successor Administrator acceptable to the NIMS Insurer, in accordance with
      this
      Section.

     

    Any
      resignation or removal of the Administrator and appointment of a successor
      Administrator, pursuant to any of the provisions of this Section 8.20 shall
      not
      become effective until acceptance of appointment by the successor Administrator.
      As long as the Certificate Insurance Policy is in effect, the Administrator
      will
      send a written notice to the Certificate Insurer of any such resignation,
      removal or appointment. If the Administrator is removed pursuant to this Section
      8.20, it shall be reimbursed any outstanding and unpaid fees and
      expenses.

     

    Notwithstanding
      anything to the contrary contained herein, in the event that the Trustee resigns
      or is removed as Trustee hereunder, the Administrator shall have the right
      to
      resign immediately as Administrator by giving written notice to GCFP, the
      Depositor and the Trustee, with a copy to each Rating Agency, the Certificate
      Insurer and any NIMS Insurer. Any Person appointed as successor Trustee pursuant
      to Section 8.07 shall also be required to serve as successor Administrator
      under
      the Yield Maintenance Agreement and the Yield Maintenance Allocation
      Agreement.

     

    SECTION
      8.21. Closing
      Opinion of Counsel.

     

    On
      or
      before the Closing Date, the Trustee shall cause to be delivered to the
      Depositor, the Seller, the Certificate Insurer and Greenwich Capital Markets,
      Inc. an Opinion of Counsel, dated the Closing Date, in form and substance
      reasonably satisfactory to the Depositor, Greenwich Capital Markets, Inc.,
      and
      the Seller as to the due authorization, execution and delivery of this Agreement
      by the Trustee and the enforceability thereof.

130

    ARTICLE
      IX

     

    REMIC
      ADMINISTRATION

     

    SECTION
      9.01. REMIC
      Administration.

     

    (a) As
      set
      forth in the Preliminary Statement to this Agreement, two REMIC elections shall
      be made by the Trust Fund. The Trustee shall sign and file such elections on
      Form 1066 or other appropriate federal tax or information return for the taxable
      year ending on the last day of the calendar year in which the Certificates
      are
      issued. The regular interests in each REMIC created hereunder and the related
      residual interest shall be as designated in the Preliminary Statement. Following
      the Closing Date, the Trustee shall apply to the Internal Revenue Service for
      an
      employer identification number for each REMIC created hereunder by means of
      a
      Form SS-4 or other acceptable method and shall file a Form 8811 with the
      Internal Revenue Service.

     

    (b) The
      Closing Date is hereby designated as the “Startup Day” of each REMIC created
      hereunder within the meaning of section 860G(a)(9) of the Code.
      The
      latest possible maturity date for each interest in any REMIC created hereby
      shall be the Latest Possible Maturity Date.

     

    (c) Except
      as
      provided in subsection (d) of this Section 9.01, the Seller shall pay any and
      all tax related expenses (not including taxes) of each REMIC created hereunder,
      including but not limited to any professional fees or expenses related to audits
      or any administrative or judicial proceedings with respect to any such REMIC
      that involve the Internal Revenue Service or state tax authorities, but only
      to
      the extent that (i) such expenses are ordinary or routine expenses, including
      expenses of a routine audit but not expenses of litigation (except as described
      in (ii)); or (ii) such expenses or liabilities (including taxes and penalties)
      are attributable to the negligence or willful misconduct of the Trustee in
      fulfilling its duties hereunder (including the Trustee’s duties as tax return
      preparer).

     

    (d) The
      Trustee shall prepare and file, and the Trustee shall sign all of the federal
      and state tax and information returns of each REMIC created hereunder
      (collectively, the “Tax
      Returns”)
      as the
      direct representative. The expenses of preparing and filing such Tax Returns
      shall be borne by the Trustee. Notwithstanding the foregoing, the Trustee shall
      have no obligation to prepare, file or otherwise deal with partnership tax
      information or returns. In the event that partnership tax information or returns
      are required by the Internal Revenue Service, the Seller, at its own cost and
      expense, will prepare and file all necessary returns.
      The
      Internal Revenue Service has issued OID regulations under Sections 1271 to
      1275
      of the Code generally addressing the treatment of debt instruments issued with
      original issue discount. Under those regulations, debt issued to one Person
      generally is aggregated in determining if there is OID. Because certain Classes
      of Regular Certificates are expected to be issued to one Person (which intends
      to continue to hold the Regular Certificates indefinitely and, in any case,
      for
      at least 30 days), the Trustee, on behalf of the Trust Fund and upon receipt
      of
      written direction from the Depositor, will determine the existence and amount
      of
      any OID as if those Classes of Regular Certificates were one debt instrument
      and
      based solely on information provided by the Depositor to the
      Trustee.

     

    (e) The
      Trustee shall perform on behalf of each REMIC created hereunder all reporting
      and other tax compliance duties that are the responsibility of each such REMIC
      under the Code, the REMIC Provisions or other compliance guidance issued by
      the
      Internal Revenue Service or any state or local taxing authority. Among its
      other
      duties, if required by the Code, the REMIC Provisions or other such guidance,
      the Trustee, shall provide (i) to the Treasury or other governmental authority
      such information as is necessary for the application of any tax relating to
      the
      transfer of a Residual Certificate to any disqualified organization and (ii)
      to
      the Certificateholders such information or reports as are required by the Code
      or REMIC Provisions.
      The
      Trustee, however, shall have no information or other tax reporting obligations
      with respect to the Final Maturity Reserve Trust. In addition, the Administrator
      shall have no information or other tax reporting obligations with respect to
      the
      Yield Maintenance Trust.

131

    (f) The
      Trustee (to the extent that the affairs of the REMICs are within such Person’s
      control and the scope of its specific responsibilities under the Agreement)
      and
      the Holders of Certificates shall take any action or cause any REMIC created
      hereunder to take any action necessary to create or maintain the status of
      any
      REMIC created hereunder as a REMIC under the REMIC Provisions and shall assist
      each other as necessary to create or maintain such status. None of the Trustee
      or the Holder of a Residual Certificate shall take any action, cause any REMIC
      created hereunder 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 result in an Adverse REMIC Event unless the Trustee
      and
      any NIMS Insurer have 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 result in an Adverse REMIC Event. In addition, prior to taking any
      action with respect to any REMIC created hereunder or the assets therein, or
      causing any such REMIC to take any action which is not expressly permitted
      under
      the terms of this Agreement, any Holder of the Residual Certificate will consult
      with the Trustee, the NIMS Insurer or their respective designees, in writing,
      with respect to whether such action could cause an Adverse REMIC Event to occur
      with respect to any such REMIC, and no such Person shall take any such action
      or
      cause any REMIC created hereunder to take any such action as to which the
      Trustee or any NIMS Insurer has advised it in writing that an Adverse REMIC
      Event could occur. 

     

    (g) Each
      Holder of a Residual Certificate shall pay when due any and all taxes imposed
      on
      any REMIC created hereunder in which it owns the residual interest by federal
      or
      state governmental authorities. To the extent that such Trust Fund taxes are
      not
      paid by the Residual Certificateholder, the Trustee shall pay any remaining
      REMIC taxes out of current or future amounts otherwise distributable to the
      Holder of the Residual Certificate or, if no such amounts are available, out
      of
      other amounts held in the Distribution Account, and shall reduce amounts
      otherwise payable to holders of regular interests in such REMIC, as the case
      may
      be.

     

    (h) The
      Trustee shall, for federal income tax purposes, maintain books and records
      with
      respect to each REMIC created hereunder on a calendar year and on an accrual
      basis.

     

    (i) No
      additional contributions of assets shall be made to any REMIC created hereunder,
      except as expressly provided in this Agreement with respect to eligible
      substitute mortgage loans.

     

    (j) The
      Trustee shall not enter into any arrangement by which any REMIC created
      hereunder will receive a fee or other compensation for services.

     

    (k) The
      Trustee shall treat the Basis Risk Reserve Fund as an outside reserve fund
      within the meaning of Treasury Regulation Section 1.860G-2(h), and not as assets
      of any REMIC. The Holders of the Class C Certificates are the owners of the
      Basis Risk Reserve Fund. The Trustee shall treat the rights of the Holders
      of
      the LIBOR Certificates to receive distributions to cover Basis Risk Shortfalls
      as payments under a cap contract written by the Holders of the Class C
      Certificates in favor of the related Holders of the LIBOR Certificates. Thus,
      the LIBOR Certificates shall be treated as representing not only ownership
      of
      regular interests in a REMIC, but also ownership of an interest in an interest
      rate cap contract. For purposes of determining the issue prices of the
      Certificates, the interest rate cap contracts shall be assumed to have a zero
      value unless and until required otherwise by an applicable taxing
      authority.

132

    (l) The
      Trustee shall treat the Final Maturity Reserve Trust as an outside reserve
      fund
      within the meaning of Treasury Regulation Section 1.860G-2(h) owned by the
      holders of the Class C Certificates and not assets of any REMIC. The Class
      C
      Certificateholder shall be treated as the owner of the Final Maturity Reserve
      Trust and any payments made from the Final Maturity Reserve Trust to beneficial
      owners of Certificates (other than the Class C Certificates) shall be treated
      for federal income tax purposes as payments made by the Class C
      Certificateholder in exchange for an interest in the Certificates then owned
      by
      such beneficial owners.

     

    (m) 
      The
      Trustee shall treat each of the Yield Maintenance Trust, the Yield Maintenance
      Trust Account, the Yield Maintenance Account and the Class 2A-1C2 Yield
      Maintenance Account as an outside reserve fund within the meaning of Treasury
      Regulation Section 1.860G-2(h), and not as assets of any REMIC. The Holders
      of
      the Class C Certificates are the owners of the Yield Maintenance Trust, the
      Yield Maintenance Trust Account, the Yield Maintenance Account and the Class
      2A-1C2 Yield Maintenance Account. The Trustee shall treat the rights of the
      Holders of the LIBOR Certificates and the Holders of the Class 2A-1C2 to receive
      distributions to cover Basis Risk Shortfalls as payments under the cap contracts
      written by the Holders of the Class C Certificates in favor of the related
      Holders of the LIBOR Certificates. Thus, the LIBOR Certificates and the Class
      2A-1C2 Certificates shall be treated as representing not only ownership of
      regular interests in a REMIC, but also ownership of an interest in one or two
      interest rate cap contracts, as applicable. For purposes of determining the
      issue prices of the Certificates, the interest rate cap contracts shall be
      assumed to have a zero value unless and until required otherwise by an
      applicable taxing authority.

     

    (n) For
      federal income tax purposes, upon any sale of the property held by the Trust
      Fund pursuant to Section 10.01(a), any NIM Redemption Amount and any Premium
      Proceeds paid by the Servicer shall not be treated as a portion of the purchase
      price paid for such property but shall instead be treated as an amount paid
      by
      the Servicer to the Holder of the Class C Certificates pursuant to a cash
      settled call option with respect to the property held by the Trust
      Fund.

     

    SECTION
      9.02. Prohibited
      Transactions and Activities.

     

    None
      of
      the Depositor, the Servicer or the Trustee shall sell, dispose of, or substitute
      for any of the Mortgage Loans, except in a disposition pursuant to (i) the
      foreclosure of a Mortgage Loan, (ii) the bankruptcy of the Trust Fund,
      (iii) the termination of the REMICs created hereunder pursuant to Article X
      of
      this Agreement, (iv) a substitution pursuant to Article II hereof or (v) a
      repurchase of Mortgage Loans as contemplated hereunder, nor acquire any assets
      for any REMIC created hereunder, nor sell or dispose of any investments in
      the
      Distribution Account for gain, nor accept any contributions to any REMIC created
      hereunder after the Closing Date, unless the Depositor, the Trustee and any
      NIMS
      Insurer have received an Opinion of Counsel (at the expense of the party causing
      such sale, disposition, or substitution) that such disposition, acquisition,
      substitution, or acceptance will not result in an Adverse REMIC
      Event.

133

    ARTICLE
      X

     

    TERMINATION

     

    SECTION
      10.01. Termination.

     

    (a) The
      respective obligations and responsibilities of the Seller, the Depositor and
      the
      Trustee created hereby (other than the obligation of the Trustee, as Paying
      Agent, to make certain payments to Certificateholders after the final
      Distribution Date and the obligation of the Servicer to send certain notices
      as
      hereinafter set forth) shall terminate upon notice to the Trustee upon the
      earliest of (i) the Distribution Date on which the Class Principal Balance
      of each Class of Certificates has been reduced to zero an no Certificate Insurer
      Reimbursement Amounts are owed to the Certificate Insurer, (ii) the final
      payment or other liquidation of the last Mortgage Loan, (iii) the optional
      purchase of the Mortgage Loans by the Terminator as described in the following
      paragraph and (iv) the Latest Possible Maturity Date. Notwithstanding
      the foregoing, in no event shall the trust created hereby continue beyond 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 hereof.

     

    Following
      the date on which the aggregate of the Stated Principal Balances of the Mortgage
      Loans (after giving effect to scheduled payments of principal due during the
      related Due Period, to the extent received or advanced, and unscheduled
      collections of principal received during the related Prepayment Period) on
      such
      date is equal to or less than 10% of the Cut-off Date Collateral Balance (the
      “Call
      Option Date”),
      the
      Servicer (in such context, the “Terminator”),
      with
      the prior written consent of the NIMS Insurer (which consent shall not be
      unreasonably withheld) or the NIMS Insurer may, at its option, terminate this
      Agreement by purchasing, on the next succeeding Distribution Date, all of the
      outstanding Mortgage Loans and REO Properties at a price equal to (A) the
      greater of (i) the aggregate Stated Principal Balance of the Mortgage Loans
      (after giving effect to scheduled payments of principal due during the related
      Due Period, to the extent received or advanced, and unscheduled collections
      of
      principal received during the related Prepayment Period) and the appraised
      value
      of the REO Properties and (ii) the fair market value of the Mortgage Loans
      and
      REO Properties (as determined and as agreed upon by (w) the Terminator, (x)
      the
      NIMS Insurer, (y) the Holders of a majority in Percentage Interest of the Class
      C Certificates and (z) if the Holders of the LIBOR Certificates will not receive
      all amounts due and payable as a result of the exercise of the option by the
      Terminator, the Trustee, in their good faith business judgment as of the close
      of business on the third Business Day next preceding the date upon which notice
      of any such termination is furnished to the related Certificateholders pursuant
      to Section 10.01(b)), plus, (B) in each case, accrued and unpaid interest
      thereon at the weighted average of the Mortgage Rates through the end of the
      Due
      Period preceding the final Distribution Date, plus any unreimbursed Servicing
      Advances and Advances and any unpaid Servicing Fees allocable to such Mortgage
      Loans and REO Properties and all amounts, if any, then due and owing to the
      Trustee and the Certificate Insurer under this Agreement, plus
      any
      Basis Risk Shortfalls then remaining unpaid or which is due to the exercise
      of
      such option (the “Termination
      Price”);
      provided,
      however,
      such
      option may only be exercised if the Termination Price is sufficient to result
      in
      the payment of all interest accrued on, as well as amounts necessary to retire
      the Class Principal Balance of, each Class of Certificates issued pursuant
      to
      this Agreement; and, provided,
      further,
      that if
      there are any NIM Securities outstanding, the Servicer may only exercise its
      option after receiving the prior written consent of the holders of such NIM
      Securities and, if such consent is given, the Termination Price shall also
      include an amount equal to the sum of (1) any accrued interest on the NIM
      Securities, (2) the unpaid principal balance of any such NIM Securities and
      (3)
      any other reimbursable expenses owed by the issuer of the NIM Securities (the
      “NIM
      Redemption Amount”).
      If
      the fair market value of the Mortgage Loans and REO Properties shall be required
      to be made and agreed upon by the Servicer, if it is Terminator, and the Holders
      of a majority of Percentage Interest of the Class C Certificates as provided
      in
      (ii) above in their good faith business judgment, and such determination shall
      take into consideration an appraisal of the value of the Mortgage Loans and
      REO
      Properties conducted by an independent appraiser mutually agreed upon by the
      Servicer, if it is the Terminator, the Holders of a majority in Percentage
      Interest of the Class C Certificates and the Terminator in their reasonable
      discretion, such appraisal to be obtained by the Holders of a majority in
      Percentage Interest of the Class C Certificates at their expense, and (A) such
      appraisal shall be obtained at no expense to the Trustee and (B) the Trustee
      may
      conclusively rely on, and shall be protected in relying on, such fair market
      value determination. No such purchase by the Terminator will be permitted
      without the consent of the NIMS Insurer and the consent of the Certificate
      Insurer if a draw on the Policy will be made or if any amounts due to the
      Certificate Insurer would remain unreimbursed on the Final Distribution
      Date.

134

    If
      the
      Terminator does not exercise its option as described above, then the NIMS
      Insurer shall have the right to exercise such option and (i) the NIMS Insurer
      shall remit the Termination Price in immediately available funds to the Servicer
      at least three Business Days prior to the applicable Distribution Date and,
      upon
      receipt of such funds from the NIMS Insurer, the Servicer shall promptly deposit
      such funds in the Distribution Account and (ii) upon the termination of the
      Trust Fund, the Trustee will transfer the property of the Trust Fund to the
      NIMS
      Insurer. The NIMS Insurer shall be obligated to reimburse the Servicer for
      its
      reasonable out-of-pocket expenses incurred in connection with its termination
      of
      the Trust Fund by the NIMS Insurer and shall indemnify and hold harmless the
      Servicer for all losses, liabilities or expenses resulting from any claims
      directly resulting from or relating to the termination of the Trust Fund by
      the
      NIMS Insurer, except to the extent such losses, liabilities or expenses arise
      out of or result from the Servicer’s negligence, bad faith or willful
      misconduct. No such purchase by the Servicer or the NIMS Insurer will be
      permitted without the consent of the Certificate Insurer if a draw on the
      Certificate Insurance Policy will be made or if any amounts due to the
      Certificate Insurer would remain unreimbursed on the final Distribution
      Date.

     

    In
      connection with any such purchase pursuant to the preceding paragraph, the
      Servicer shall deposit in the Distribution Account all amounts then on deposit
      in the Servicing Account, which deposit shall be deemed to have occurred
      immediately preceding such purchase.

135

    No
      such
      purchase by the Servicer will be permitted without the consent of the
      Certificate Insurer if a draw on the Certificate Insurance Policy will be made
      or if any amounts due to the Certificate Insurer would remain unreimbursed
      on
      the final Distribution Date.

     

    (b) Notice
      of
      any termination pursuant to the second paragraph of Section 10.01(a), specifying
      the Distribution Date (which shall be a date that would otherwise be a
      Distribution Date) upon which the Certificateholders may surrender their
      Certificates to the Certificate Registrar for payment of the final distribution
      and cancellation, shall be given promptly by the Trustee upon the Trustee
      receiving notice of such date from the Servicer by letter to the
      Certificateholders mailed not earlier than the 10th day and not later than
      the 19th day of the month immediately preceding the month of such final
      distribution specifying (1) the Distribution Date upon which final
      distribution of the Certificates will be made upon presentation and surrender
      of
      such Certificates at the office or agency of the Certificate Registrar therein
      designated, (2) the amount of any such final distribution and (3) that
      the Record Date otherwise applicable to such Distribution Date is not
      applicable, distributions being made only upon presentation and surrender of
      the
      Certificates at the office or agency of the Certificate Registrar therein
      specified. The Trustee shall give such notice to the Certificate Insurer and
      the
      Certificate Registrar at the time such notice is given to Holders of the
      Certificates. Upon any such termination, the duties of the Certificate Registrar
      with respect to the Certificates shall terminate and the Trustee shall terminate
      the Distribution Account and any other account or fund maintained with respect
      to the Certificates, subject to the Trustee’s obligation hereunder to hold all
      amounts payable to Certificateholders in trust without interest pending such
      payment.

     

    (c) Upon
      presentation and surrender of the Certificates, the Trustee, as Paying Agent,
      shall cause to be distributed to the Holders of the Certificates on the
      Distribution Date for such final distribution, in proportion to the Percentage
      Interests of their respective Class and to the extent that funds are available
      for such purpose, an amount equal to the amount required to be distributed
      to
      such Holders in accordance with the provisions of Section 5.01 hereof for
      such Distribution Date; provided,
      however,
      that
      with respect to amounts that would otherwise be distributed to the Class R
      Certificates (i) with respect to the Group 1 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      2A-1A, Class 2A-1B1, Class 2A-1B2, Class 2A-1C1 and Class 2A-1C2 Certificates,
      pro
      rata
      up to
      the amount by which the aggregate Class Principal Balance of the classes of
      Senior Certificates related to Loan Group 2 on such date is greater than the
      Loan Group Balance of the related Group 2 Mortgage Loans for such Distribution
      Date and (ii) with respect to the Group 2 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      1A-1A
      Certificates up to the amount by which the aggregate Class Principal Balance
      of
      the classes of Senior Certificates related to Loan Group 1 on such date is
      greater than the Loan Group Balance of the related Group 1 Mortgage Loans for
      such Distribution Date.

     

    (d) In
      the
      event that all Certificateholders shall not surrender their Certificates for
      final payment and cancellation on or before such final Distribution Date, the
      Trustee shall promptly following such date cause all funds in the Distribution
      Account not distributed in final distribution to Certificateholders to be
      withdrawn therefrom and credited to the remaining Certificateholders by
      depositing such funds in a separate account for the benefit of such
      Certificateholders, and within six months, the Trustee 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 nine months after the second notice all the Certificates
      shall not have been surrendered for cancellation, the Servicer shall be entitled
      to all unclaimed funds and other assets which remain subject hereto, and the
      Trustee upon transfer of such funds shall be discharged of any responsibility
      for such funds, and the Certificateholders shall look to the Servicer for
      payment.

136

    SECTION
      10.02. Additional
      Termination Requirements.

     

    (a) In
      the
      event the purchase option provided in Section 10.01 is exercised, the Trust
      Fund shall be terminated in accordance with the following additional
      requirements:

     

    (i) The
      Trustee shall sell any remaining assets of the Trust Fund for cash and, within
      90 days of such sale, shall distribute to (or credit to the account of) the
      Certificateholders the proceeds of such sale together with any cash on hand
      (less amounts retained to meet claims) in complete liquidation of the Trust
      Fund, and each REMIC created hereunder; and

     

    (ii) The
      Trustee shall attach a statement to the final federal income tax return for
      each
      REMIC created hereunder stating that pursuant to Treasury Regulation §1.860F-1,
      the first day of the 90 day liquidation period for such REMIC was the date
      on
      which the Trustee sold the assets of the Trust Fund and shall satisfy all
      requirements of a qualified liquidation under Section 860F of the Code and
      any
      regulations thereunder as evidenced by an Opinion of Counsel delivered to the
      Trustee and the Certificate Insurer obtained at the expense of the
      Seller.

     

    (b) By
      their
      acceptance of Certificates, the Holders thereof hereby agree to appoint the
      Trustee as their attorney in fact to undertake the foregoing steps.

     

    SECTION
      10.03. NIMS
      Insurer Optional Repurchase Right of Distressed Mortgage Loans.

     

    The
      NIMS
      Insurer, if any, may repurchase any Distressed Mortgage Loan for a purchase
      price equal to the outstanding principal balance of such Mortgage Loan, plus
      accrued interest thereon to the date of repurchase plus any unreimbursed
      Advances, Servicing Advances or Servicing Fees allocable to such Distressed
      Mortgage Loan. Any such repurchase shall be accomplished by the NIMS Insurer’s
      remittance of the purchase price for the Distressed Mortgage Loan to the Trustee
      for deposit into the Distribution Account. The NIMS Insurer shall not use any
      procedure in selecting Distressed Mortgage Loans to be repurchased which would
      be materially adverse to Certificateholders.

     

    ARTICLE
      XI

     

    DISPOSITION
      OF TRUST FUND ASSETS

     

    SECTION
      11.01. Disposition
      of Trust Fund Assets.

     

    Neither
      the Trust Fund, nor this Agreement, may be terminated or voided, or any
      disposition of the assets of the Trust Fund effected, other than in accordance
      with the terms hereof, except to the extent that Holders representing no less
      than the entire beneficial ownership interest of the Certificates have consented
      in writing to such action.

137

    ARTICLE
      XII 

     

    MISCELLANEOUS
      PROVISIONS

     

    SECTION
      12.01. Amendment.

     

    This
      Agreement may be amended from time to time by the Seller, the Depositor and
      the
      Trustee (with the consent of any NIMS Insurer) without the consent of the
      Certificateholders and, with respect to any amendment that adversely affects
      the
      interest of any of the Certificate Insurer or the Holders of the Insured
      Certificates, with the prior written consent of the Certificate Insurer,
      (i) to cure any ambiguity, (ii) to correct or supplement any
      provisions herein which may be defective or inconsistent with any other
      provisions herein, (iii) 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, or (iv) to conform the
      terms
      hereof to the description thereof provided in the Prospectus; provided,
      however,
      that
      any such action listed in clause (i) through (iii) above shall not
      adversely affect in any material respect the interests of any Certificateholder;
      provided,
      further,
      that
      any such action listed in (i) through (iii) above shall be deemed not to
      adversely affect in any material respect the interests of any Certificateholder,
      if evidenced by (i) written notice to the Depositor, the Seller, any NIMS
      Insurer, the Certificate Insurer and the Trustee from the Rating Agency that
      such action will not result in the reduction or withdrawal of the rating of
      any
      outstanding Class of Certificates with respect to which it is a Rating Agency
      (without regard to the Certificate Insurance Policy) or (ii) an Opinion of
      Counsel to the effect that such amendment shall not adversely affect in any
      material respect the interests of any Certificateholder (without taking into
      account the benefits under the Certificate Insurance Policy), is permitted
      by
      the Agreement and all the conditions precedent, if any, have been complied
      with,
      delivered to the Trustee, any NIMS Insurer and the Certificate
      Insurer.

     

    In
      addition, this Agreement may be amended from time to time by Seller, the
      Depositor and the Trustee with the consent of any NIMS Insurer, the Majority
      Certificateholders and the Certificate Insurer (if the proposed amendment
      adversely affects in any respect the rights and interest of the Certificate
      Insurer) 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 Holders of Certificates; and subject, in the case
      of
      any amendment or modification to Section 5.01(a) hereof, to the consent of
      the
      Bank of New York, as Custodian; provided,
      however,
      that no
      such amendment or waiver shall (x) reduce in any manner the amount of, or
      delay the timing of, payments on the Certificates that are required to be made
      on any Certificate without the consent of the Holder of such Certificate,
      (y) adversely affect in any material respect the interests of the Holders
      of any Class of Certificates in a manner other than as described in clause
      (x)
      above, without the consent of the Holders of Certificates of such Class
      evidencing at least a 662/3%
      Percentage Interest in such Class, or (z) reduce the percentage of Voting
      Rights required by clause (y) above without the consent of the Holders of
      all Certificates of such Class then outstanding. Upon approval of an amendment,
      a copy of such amendment shall be sent to the Rating Agency.

138

    Notwithstanding
      any provision of this Agreement to the contrary, each of the Trustee and the
      NIMS Insurer shall not consent to any amendment to (1) this Agreement unless
      they shall have first received an Opinion of Counsel, delivered by and at the
      expense of the Person seeking such Amendment (unless such Person is the Trustee,
      in which case the Trustee shall be entitled to be reimbursed for such expenses
      by the Trust Fund pursuant to Section 8.05 hereof), to the effect that such
      amendment will not result in the imposition of a tax on any REMIC created
      hereunder pursuant to the REMIC Provisions or cause any REMIC created hereunder
      to fail to qualify as a REMIC at any time that any Certificates are outstanding
      and that the amendment is being made in accordance with the terms hereof, such
      amendment is permitted by this Agreement and all conditions precedent, if any,
      have been complied with and (2) the Reconstitution Agreement unless it shall
      have first received the consent of the Certificate Insurer.

     

    Promptly
      after the execution of any such amendment the Trustee shall furnish, at the
      expense of the Person that requested the amendment if such Person is the Seller
      (but in no event at the expense of the Trustee), otherwise at the expense of
      the
      Trust Fund, a copy of such amendment and the Opinion of Counsel referred to
      in
      the immediately preceding paragraph to the Servicer, the Certificate Insurer,
      the NIMS Insurer and each Rating Agency.

     

    It
      shall
      not be necessary for the consent of Certificateholders under this
      Section 12.01 to approve the particular form of any proposed amendment;
      instead it shall be sufficient if such consent shall approve the substance
      thereof. 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.

     

    The
      Trustee may, but shall not be obligated to, enter into any amendment pursuant
      to
      this 12.01 Section that affects its rights, duties and immunities under
      this Agreement or otherwise.

     

    SECTION
      12.02. Recordation
      of Agreement; Counterparts.

     

    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,
      such recordation to be effected by the Trustee at the expense of the Trust
      Fund,
      but only upon direction of Certificateholders accompanied by an Opinion of
      Counsel to the effect that such recordation materially and beneficially affects
      the interests of the Certificateholders and the Certificate
      Insurer.

     

    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 together constitute but one and the same
      instrument.

     

    SECTION
      12.03. Limitation
      on Rights of Certificateholders.

     

    The
      death
      or incapacity of any Certificateholder shall not (i) operate to terminate
      this Agreement or the Trust Fund, (ii) 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 Fund or
      (iii) otherwise affect the rights, obligations and liabilities of the
      parties hereto or any of them.

139

    Except
      as
      expressly provided for herein, no Certificateholder shall have any right to
      vote
      or in any manner otherwise control the operation and management of the Trust
      Fund, 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
      constitute the Certificateholders from time to time as partners or members
      of an
      association; nor shall any Certificateholder 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.

     

    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
      or under or with respect to this Agreement, unless such Holder previously shall
      have given to the Trustee a written notice of default and of the continuance
      thereof, as hereinbefore provided, and unless also the Holders of Certificates
      entitled to at least 25% of the Voting Rights shall, with the prior written
      consent of any NIMS Insurer, 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, expenses and liabilities to be incurred therein
      or
      thereby, and the Trustee for 15 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 and no direction inconsistent with such written
      request has been given the Trustee by such Certificateholder or any NIMS
      Insurer. It is understood and intended, and expressly covenanted by each
      Certificateholder with every other Certificateholder, any NIMS Insurer and
      the
      Trustee, that no one or more Holders of Certificates shall have any right in
      any
      manner whatever by virtue of any provision of this Agreement to affect, disturb
      or prejudice the rights of the Holders of any other of such Certificates or
      the
      rights of any NIMS Insurer, or to obtain or seek to obtain priority over or
      preference to any other such Holder or any NIMS Insurer, which priority or
      preference is not otherwise provided for herein, 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 12.03, each and every Certificateholder,
      the NIMS Insurer and the Trustee shall be entitled to such relief as can be
      given either at law or in equity.

     

    By
      accepting its Insured Certificate, each Holder of an Insured Certificate agrees
      that, unless a Certificate Insurer Default exists and is continuing, the
      Certificate Insurer shall have the right to exercise all rights of the Holders
      of the Insured Certificates under this Agreement (other than the right to
      receive distributions on the Insured Certificates) without any further consent
      of the Holders of the Insured Certificates and the Holders of the Insured
      Certificates shall exercise any such rights only upon the written consent of
      the
      Certificate Insurer; provided,
      however,
      each
      Holder of an Insured Certificate and the Certificate Insurer will have the
      right
      to receive statements and reports hereunder. Notwithstanding the foregoing,
      the
      Certificate Insurer shall have no power without the consent of the Holder of
      each Insured Certificate affected thereby to: (i) reduce in any manner the
      amount of, or delay the timing of, distributions of principal or interest
      required to be made hereunder or reduce the Percentage Interest of the Holders
      of the Insured Certificates, the applicable Pass-Through Rate or the Termination
      Price with respect to any of the Insured Certificates; (ii) reduce the
      percentage of Percentage Interests specified in Section 12.01 which are required
      to amend this Agreement; (iii) create or permit the creation of any lien against
      any part of the Trust Fund; (iv) modify any provision in any way which would
      permit an earlier retirement of the Insured Certificates; or (v) amend this
      sentence.

140

    SECTION
      12.04. Governing
      Law; Jurisdiction.

     

    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
      12.05. Notices.

     

    All
      directions, demands and notices hereunder shall be in writing and shall be
      deemed to have been duly given if personally delivered at or mailed by first
      class mail, postage prepaid, or by express delivery service, to (a) in the
      case of the Seller, to Greenwich Capital Financial Products, Inc.,
      600 Steamboat Road, Greenwich, Connecticut 06830, Attention: General
      Counsel (telecopy number (203) 618-2132), or such other address or telecopy
      number as may hereafter be furnished to the Depositor, the Certificate Insurer
      and the Trustee in writing by the Seller, (b) in the case of the Trustee, to
      the
      Corporate Trust Office or such other address or telecopy number as may hereafter
      be furnished to the Depositor, the Certificate Insurer and the Seller in writing
      by the Trustee, (c) in the case of the Depositor, to Greenwich Capital
      Acceptance, Inc., 600 Steamboat Road, Greenwich, Connecticut 06830,
      Attention: Legal (telecopy number (203) 618-2132), or such other address or
      telecopy number as may be furnished to the Seller, the Certificate Insurer
      and
      the Trustee in writing by the Depositor; and (d) in the case of the Certificate
      Insurer, Ambac Assurance Corporation, One State Street Plaza, New York, New
      York
      10004, Attention: HarborView 2006-9 (telecopy number 212-208-3547),
      or
      such other address or telecopy number as may be furnished to the Depositor,
      the
      Seller and the Trustee in writing by the Certificate Insurer. Any notice
      required or permitted to be mailed to a Certificateholder shall be given by
      first class mail, postage prepaid, at the address of such Holder as shown in
      the
      Certificate Register. Notice of any Event of Default shall be given by telecopy
      and by certified mail. Any notice so mailed within the time prescribed in this
      Agreement shall be conclusively presumed to have duly been given when mailed,
      whether or not the Certificateholder receives such notice. A copy of any notice
      required to be telecopied hereunder shall also be mailed to the appropriate
      party in the manner set forth above. Any notice required to be delivered by
      the
      Trustee to the Depositor pursuant to Section 3.19 may be delivered by the
      Trustee, notwithstanding any provision of this Agreement to the contrary, to
      Greenwich Capital Acceptance, Inc., 600 Steamboat Road, Greenwich,
      Connecticut 06830, Attention: Mark Hagelin (telephone number (203) 618-2596;
      fax
      number (203) 422-4284; e-mail mark.hagelin@gcm.com), or such other address
      or
      telecopy number as may be furnished to the Trustee in writing by the
      Depositor.

     

    SECTION
      12.06. Severability
      of Provisions.

     

    If
      any
      one or more of the covenants, agreements, provisions or terms of this Agreement
      shall for any reason whatsoever be 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.

141

    SECTION
      12.07. Article
      and Section References.

     

    All
      article and section references used in this Agreement, unless otherwise
      provided, are to articles and sections in this Agreement.

     

    SECTION
      12.08. Notice
      to the Rating Agencies.

     

    (a) The
      Trustee shall be obligated to use its best reasonable efforts promptly to
      provide notice to the Rating Agencies, the Certificate Insurer and any NIMS
      Insurer with respect to each of the following of which a Responsible Officer
      of
      the Trustee has actual knowledge:

     

    (i) any
      material change or amendment to this Agreement;

     

    (ii) the
      occurrence of any Event of Default that has not been cured or
      waived;

     

    (iii) the
      resignation or termination of the Servicer or the Trustee;

     

    (iv) the
      final
      payment to Holders of the Certificates of any Class; and

     

    (v) any
      change in the location of any Account.

     

    (b) If
      the
      Trustee is acting as a successor Servicer pursuant to Section 7.02 hereof,
      the
      Trustee shall notify the Rating Agencies of any event that would result in
      the
      inability of the Trustee to make Advances as successor Servicer:

     

    (c) The
      Trustee shall promptly furnish to each Rating Agency copies of the following,
      unless such documents were made available on the Trustee’s website:

     

    (i) each
      Distribution Date Statement described in Section 5.04 hereof;

     

    (ii) each
      annual statement as to compliance described in Section 3.05 hereof;

     

    (iii) each
      annual assessment of compliance and attestation report described in Section
      3.05
      hereof; and

     

    (iv) each
      notice delivered to the Trustee pursuant to Section 5.05(b) hereof which relates
      to the fact that the Servicer has not made an Advance.

     

    (d) All
      notices to the Rating Agencies provided for in this Agreement shall be in
      writing and sent by first class mail, telecopy or overnight courier, as
      follows:

     

    If
      to
      Moody’s, to:

    

    Moody’s
      Investors Service, Inc.

    99
      Church
      Street 

    New
      York,
      New York 10007

    Attention:
      Residential Mortgages

142

    If
      to
      S&P, to:

    

    Standard
      & Poor’s Ratings Services,

    a
      division of The McGraw-Hill Companies, Inc.

    55
      Water
      Street

    New
      York,
      New York 10041

    Facsimile
      number: (212) 438-2661

    

    SECTION
      12.09. Further
      Assurances.

     

    Notwithstanding
      any other provision of this Agreement, neither the Regular Certificateholders
      nor the Trustee shall have any obligation to consent to any amendment or
      modification of this Agreement unless they have been provided reasonable
      security or indemnity against their out-of-pocket expenses (including reasonable
      attorneys’ fees) to be incurred in connection therewith.

     

    SECTION
      12.10. Benefits
      of Agreement.

     

    Nothing
      in this Agreement or in the Certificates, expressed or implied, shall give
      to
      any Person, other than the Certificateholders and the parties hereto and their
      successors hereunder, any benefit or any legal or equitable right, remedy or
      claim under this Agreement.

     

    The
      Certificate Insurer is an intended third-party beneficiary of this Agreement
      with respect to the rights of the Classes of Insured Certificates. Any right
      conferred to the Certificate Insurer shall be suspended after the occurrence
      and
      during the continuation of a Certificate Insurer Default. During any period
      of
      suspension, the Certificate Insurer’s rights hereunder shall vest in the Holders
      of the Insured Certificates (to the extent such Holders otherwise has such
      rights hereunder). At such time as the Class Principal Balance of the Insured
      Certificates has been reduced to zero and the Certificate Insurer has been
      reimbursed for all amounts to which it is entitled hereunder, the Certificate
      Insurer’s rights hereunder shall terminate.

     

    The
      Depositor shall promptly notify the Custodian and the Trustee in writing of
      the
      issuance of any Class of NIMS Securities and the identity of any related NIMS
      Insurer. Thereafter, the NIMS Insurer shall be deemed a third-party beneficiary
      of this Agreement to the same extent as if it were a party hereto, and shall
      be
      subject to and have the right to enforce the provisions of this Agreement so
      long as the NIMS Securities remaining outstanding or the NIMS Insurer is owed
      amounts in respect of its guarantee of payment of such NIMS Securities. Nothing
      in this Agreement or in the Certificates, express or implied, shall give to
      any
      Person, other than the parties to this Agreement and their successors hereunder,
      the Yield Maintenance Provider and its successors and assignees under each
      of
      the Yield Maintenance Agreement and the Class 2A-1C2 Yield Maintenance
      Agreement, as applicable, the Holders of the Certificates and the NIMS Insurer,
      any benefit or any legal or equitable right, power, remedy or claim under this
      Agreement.

143

    SECTION
      12.11. 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 the Certificateholders
      may be embodied in and evidenced by one or more instruments of substantially
      similar tenor signed by such Certificateholders in person or by agent duly
      appointed in writing, and such action shall become effective when such
      instrument or instruments are delivered to the Trustee. Such instrument or
      instruments (and the action embodied therein and evidenced thereby) are herein
      sometimes referred to as the “act” of the Certificateholders signing such
      instrument or instruments. 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 Trust Fund, if made
      in
      the manner provided in this Section 12.11.

     

    (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 the 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. Whenever 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
      authority.

     

    (c) Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action by any Certificateholder shall bind every future Holder of such
      Certificate and the Holder of every Certificate issued upon the registration
      of
      transfer thereof or in exchange therefor or in lieu thereof, in respect of
      anything done, omitted or suffered to be done by the Trustee or the Trust Fund
      in reliance thereon, whether or not notation of such action is made upon such
      Certificate.

     

    SECTION
      12.12. 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
      12.13. Provision
      of Information.

     

    For
      so
      long as any of the Certificates of any Class are “restricted securities” within
      the meaning of Rule 144(a)(3) under the Securities Act, the Depositor agrees
      to
      provide to any Certificateholders, any NIM Security Holder and to any
      prospective purchaser of Certificates designated by such holder, upon the
      request of such holder or prospective purchaser, any information required to
      be
      provided to such holder or prospective purchaser to satisfy the condition set
      forth in Rule 144A(d)(4) under the Securities Act. 

     

    The
      Trustee shall provide to any person to whom a Prospectus was delivered by
      Greenwich Capital Markets, Inc. (as identified by Greenwich Capital Markets,
      Inc.), upon the request of such person specifying the document or documents
      requested (and certifying that it is a Person entitled hereunder), (i) a copy
      (excluding exhibits) of any report on Form 8-K, Form 10-D or Form 10-K filed
      with the Securities and Exchange Commission pursuant to this Agreement and
      (ii)
      a copy of any other document incorporated by reference in the Prospectus (to
      the
      extent in the Trustee’s possession). Any reasonable out-of-pocket expenses
      incurred by the Trustee in providing copies of such documents shall be
      reimbursed by the Depositor.

144

    SECTION
      12.14. Transfer
      of Servicing.

     

    The
      Trustee shall not consent to or approve the assignment of the Servicing
      Agreement or the servicing thereunder or the delegation of a substantial portion
      of Countrywide Home Loans, Inc.’s rights or duties thereunder (other than to
      Countrywide Home Loans Servicing, LP) unless it shall have first received both
      (i) written approval from the Certificate Insurer (which approval shall not
      be
      unreasonably withheld) and (ii) a letter from each Rating Agency to the effect
      that such action on the part of the Servicer will not result in a qualification,
      withdrawal or downgrade of the then-current rating of any of the Certificates
      (without regard to the Certificate Insurance Policy). The Trustee (on behalf
      of
      the Trust Fund) shall be entitled to conclusively rely upon documents received
      by it pursuant to clauses (i) and (ii) above in providing such written approval
      to the Servicer and shall not be liable 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 with respect
      to such approval.

145

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

    
      	 	 	 
	 	
              GREENWICH
                CAPITAL ACCEPTANCE, INC.,

              as
                Depositor

            
	 
 	 
 	 
 
	
            	By:  	/s/
                Shakti Radhakishun
	 	
              

              Name:
 /s/
                Shakti Radhakishun               

              Title:
Senior Vice President               

            
	 	
            

    

    
      	 	 	 
	 	
              GREENWICH
                CAPITAL FINANCIAL 

              PRODUCTS,
                INC., as Seller

            
	 
 	 
 	 
 
	
            	By:  	/s/
                Shakti Radhakishun
	 	
              

              Name:
                  /s/ Shakti Radhakishun 

              Title:
                  Senior Vice President 

            
	 	
            

    

    
      	 	 	 
	 	
              DEUTSCHE
                BANK NATIONAL TRUST

              COMPANY,
                as Trustee

            
	 
 	 
 	 
 
	
            	By:  	/s/
                Barbara Campbell
            
	 	 	
              

              Name:
Barbara Campbell

              Title:
                  Vice President

            
	 	 	 
	 	 	 
	 	By: 	/s/
                Karlene Benvenuto
	 	
              

              Name:
Karlene Benvenuto                

              Title:
                  Authorized Signer

            
	 	
            

    SCHEDULE
      I

    

    MORTGAGE
      LOAN SCHEDULE

    SCHEDULE
      II

    

    FINAL
      MATURITY RESERVE SCHEDULE

EXHIBIT A

FORM OF SENIOR CERTIFICATE

CLASS [___]A[-1[___]] CERTIFICATE

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

IF THE RATING OF THIS CERTIFICATE IS BELOW “AA-” OR ITS EQUIVALENT WHEN IT IS ACQUIRED, THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”)
95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF PTCE 95-60.

ON OR PRIOR TO THE TERMINATION OF THE YIELD MAINTENANCE AGREEMENT AND THE FINAL MATURITY RESERVE TRUST, THIS CERTIFICATE MAY NOT BE ACQUIRED BY A TRANSFEREE FOR, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF ERISA OR SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR BY ANY ENTITY DEEMED TO HOLD THE PLAN ASSETS OF THE FOREGOING, UNLESS IT REPRESENTS AND WARRANTS THAT THE ACQUISITION AND HOLDING OF SUCH CERTIFICATE, THROUGHOUT THE PERIOD THAT IT HOLDS SUCH CERTIFICATE, WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WHICH IS NOT COVERED BY PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 90-1, PTCE 91-38, PTCE 95-60, PTCE 96-23, THE NON-FIDUCIARY SERVICE PROVIDER EXEMPTION UNDER SECTION 408(b)(17) OF ERISA OR SOME OTHER
APPLICABLE EXEMPTION. EACH INVESTOR IN THIS CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE FOREGOING AND WILL FURTHER BE DEEMED TO REPRESENT, WARRANT AND COVENANT THAT IT WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH CERTIFICATE IN VIOLATION OF THE FOREGOING. [For the Class 1A-1A and Class 2A-1A Certificates Only.]

A-1

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF
PTCE 95-60. [For certificates other than the Class 1A-1A and Class 2A-1A Certificates Only.]

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 CODE.

 

  	
        Certificate
          No.:

      	
        [___]

      
	 	 
	
        Cut-Off
          Date:

      	
        September
          1, 2006

      
	 	 
	
        First
          Distribution Date:

      	
        October
          19, 2006

      
	 	 
	
        Initial
          Certificate Principal

      	
         

      
	
        Balance
          of this Certificate

      	
         

      
	
        (“Denomination”):

      	
        $[___]

      
	 	 
	
        Original
          Class Certificate

      	
         

      
	
        Principal
          Balance of this

      	
         

      
	
        Class:

      	
        $[___]

      
	 	 
	
        Percentage
          Interest:

      	
        100%

      
	 	 
	
        Pass-Through
          Rate:

      	
        Variable

      
	 	 
	
        CUSIP:

      	
        [41161V
          [___]

      
	 	 
	
        Class:

      	
        [___]A[-1[___]]

      
	 	 
	
        Assumed
          Final Distribution Date:

      	
        November
          19, 2036

      

[For the Class 2A-1C2 Certificates Only: December 19, 2037]

A-2

HarborView Mortgage Loan Trust 

Mortgage Loan Pass-Through Certificates, Series 2006-9

Class [___]A[-1[___]]

evidencing the Percentage Interest in the distributions allocable to the Certificates of the above-referenced Class with respect to the Trust Fund consisting primarily of first lien mortgage loans (the “Mortgage Loans”) purchased from others by

GREENWICH
  CAPITAL ACCEPTANCE, INC., as Depositor.

Principal in respect of this Certificate is distributable monthly as set forth herein and in the pooling and servicing agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). Accordingly, the Certificate Principal Balance of this Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller or the Trustee referred to below or any of their respective affiliates.

This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Denomination of this Certificate by the Original Class Certificate Principal Balance) in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant to the Agreement. To the extent not defined herein, capitalized terms used herein have the meanings assigned 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 the acceptance hereof assents and by which such Holder is bound.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually authenticated by an authorized signatory of the Certificate Registrar.

A-3

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

Dated: October ___, 2006

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST

          COMPANY,

      
	
         

      	
         

      	
        not
          in its individual capacity, but solely as Trustee

      
	 	 	 	 
	
        
        

      	
         

      	
        By

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      

 

  	
        This
          is one of the Certificates

          referenced in the within-mentioned Agreement

      	
         

      	
         

      	
         

      
	 	 	 	 	 
	
        By

      	
        
        

      	
         

      	
         

      	
        
        

      
	
         

      	
        
        

      	
         

      	
         

      	
        
      

	
         

      	
        Authorized
          Signatory of

          DEUTSCHE BANK NATIONAL TRUST COMPANY,

          as Certificate Registrar

      	
         

      	
         

      	
         

      

A-4

EXHIBIT B

FORM OF SUBORDINATE CERTIFICATE

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.

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, AS AMENDED (THE “CODE”).

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF PTCE 95-60.

THIS CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT REFERRED TO HEREIN.

 

  	
        Certificate
          No.:

      	
        1

      
	 	 
	
        Cut-Off
          Date:

      	
        September
          1, 2006

      
	 	 
	
        First
          Distribution Date:

      	
        October
          19, 2006

      
	 	 
	
        Initial
          Certificate Principal

      	
         

      
	
        Balance
          of this Certificate

      	
         

      
	
        (“Denomination”):

      	
        $[___]

      
	 	 
	
        Original
          Class Certificate

      	
         

      
	
        Principal
          Balance of this

      	
         

      
	
        Class:

      	
        $[___]

      
	 	 
	
        Percentage
          Interest:

      	
        100%

      
	 	 
	
        Pass-Through
          Rate:

      	
        Variable

      
	 	 
	
        CUSIP:

      	
        41161V
          [___]

      
	 	 
	
        Class:

      	
        B-[___]

      
	 	 
	
        Assumed
          Final Distribution Date:

      	
        November
          19, 2036

      

B-1

HarborView Mortgage Loan Trust

Mortgage Loan Pass-Through Certificates, Series 2006-9

Class B-[___]

evidencing the Percentage Interest in the distributions allocable to the Certificates of the above-referenced Class with respect to the Trust Fund consisting primarily of first lien mortgage loans (the “Mortgage Loans”) purchased from others by

GREENWICH CAPITAL ACCEPTANCE, INC., as Depositor.

Principal in respect of this Certificate is distributable monthly as set forth herein and in the pooling and servicing agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). Accordingly, the Certificate Principal Balance of this Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller or the Trustee referred to below or any of their respective affiliates.

This certifies that CEDE & CO. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Denomination of this Certificate by the Original Class Certificate Principal Balance) in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant to the Agreement. To the extent not defined herein, capitalized terms used herein have the meanings assigned 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 the acceptance hereof assents and by which such Holder is bound.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually authenticated by an authorized signatory of the Certificate Registrar.

B-2

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

Dated: October ___, 2006

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST

          COMPANY,

      
	
         

      	
         

      	
        not
          in its individual capacity, 

          but solely as Trustee

      
	 	 	 	 
	
        
        

      	
         

      	
        By

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      

 

  	
        This
          is one of the Certificates

          referenced in the within-mentioned Agreement

      	
         

      	
         

      	
         

      
	 	 	 	 	 
	
        By

      	
        
        

      	
         

      	
         

      	
        
        

      
	
         

      	
        
        

      	
         

      	
         

      	
        
      

	
         

      	
        Authorized
          Signatory of

          DEUTSCHE BANK NATIONAL TRUST COMPANY,

          as Certificate Registrar

      	
         

      	
         

      	
         

      

B-3

EXHIBIT C-1

FORM OF CLASS C CERTIFICATE

THIS CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT TO THE AGREEMENT REFERENCED HEREIN.

THE HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS PROVIDED IN THE AGREEMENT.

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE REPRESENTED AND WARRANTED THAT IT ACQUIRED SUCH CERTIFICATE (I)(A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT OR (B) AS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE 1933 ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE IN RELIANCE ON RULE 144A, AND THAT (II) SUCH HOLDER IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SECTION 4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”), THE TRUSTEE OF ANY SUCH PLAN OR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN.

NEITHER
  THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE TRANSFEREE
  DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION LETTER TO
  THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT
  ARRANGEMENT SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY
  ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE INTERNAL
  REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR ANY ENTITY DEEMED
  TO HOLD THE PLAN ASSETS OF THE FOREGOING (COLLECTIVELY, A “PLAN”)
  NOR A PERSON ACTING FOR, OR ON BEHALF OF, ANY SUCH PLAN TO EFFECT THE TRANSFER,
  OR (B) IF THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING,
  A REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS
  CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT”
  AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE
  95-60”) AND THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER
  SECTIONS I AND III OF PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE
  WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING
  ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR
  ON BEHALF OF A PLAN WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE CERTIFICATE
  REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO EFFECT.

THIS
  CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
  REFERRED TO HEREIN.

C-1-1

  	
        Certificate
          No.:

      	
        1

      
	 	 
	
        Cut-Off
          Date:

      	
        September
          1, 2006

      
	 	 
	
        Initial
          Certificate Principal

          Balance of this Certificate

          (“Denomination”):

      	
        $[___]

      
	 	 
	
        Original
          Class

          Principal Balance of this Class:

      	
        $[___]

      
	 	 
	
        Percentage
          Interest:

      	
        100%

      
	 	 
	
        Class:

      	
        C

      

C-1-2

HarborView Mortgage Loan Trust

Mortgage Loan Pass-Through Certificates, Series 2006-9

Class C

evidencing the Percentage Interest in the distributions allocable to the Certificates of the above-referenced Class with respect to the Trust Fund consisting primarily of first lien mortgage loans (the “Mortgage Loans”) purchased from others by

GREENWICH CAPITAL ACCEPTANCE, INC., as Depositor.

Funds in respect of this Certificate are distributable as set forth herein and in the pooling and servicing agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). Accordingly, the Certificate Principal Balance of this Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller or the Trustee referred to below or any of their respective affiliates.

This certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Denomination of this Certificate by the Original Class Certificate Principal Balance) in certain distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant to the Agreement. To the extent not defined herein, capitalized terms used herein have the meanings assigned 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 the acceptance hereof assents and by which such Holder is bound.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually authenticated by an authorized signatory of the Certificate Registrar.

No transfer of this Certificate shall be made unless the Certificate Registrar shall have received either (i) a representation letter from the transferee of such Certificate, acceptable to and in form and substance satisfactory to the Certificate Registrar and the Depositor and in substantially the form attached to the Agreement, to the effect that such transferee is not an employee benefit or other plan or arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on behalf or investing plan assets of any such plan or arrangement, which representation letter shall not be an expense of the Certificate Registrar or the Trustee, or (ii) if the purchaser is an insurance company, a representation that the
purchaser is an insurance company which is purchasing such Certificate with funds contained in an “insurance company general account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”)) and that the purchase and holding of such Certificate  are covered under Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance with the provisions of the Agreement. Notwithstanding anything else to the contrary herein, any purported transfer of this Certificate to or on behalf of an employee benefit plan subject to ERISA or to the Code without the opinion of counsel satisfactory to the Certificate Registrar as described above shall be void and of no effect.

C-1-3

Each Holder of this Certificate will be deemed to have agreed to be bound by the restrictions of the Agreement, including but not limited to the restrictions that (i) each person holding or acquiring any Ownership Interest in this Certificate must be a Permitted Transferee, (ii) no Ownership Interest in this Certificate may be transferred without delivery to the Trustee and the Certificate Registrar of (a) a transfer affidavit of the proposed transferee and (b) a transfer certificate of the transferor, each of such documents to be in the form described in the Agreement, (iii) each person holding or acquiring any Ownership Interest in this Certificate must agree to require a transfer affidavit and to deliver a transfer certificate to the Certificate Registrar as required pursuant to the Agreement, (iv) each person holding or acquiring an Ownership Interest in this Certificate
must agree not to transfer an Ownership Interest in this Certificate if it has actual knowledge that the proposed transferee is not a Permitted Transferee and (v) 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. The Trustee will provide the Internal Revenue Service and any pertinent persons with the information needed to compute the tax imposed under the applicable tax laws on transfers of residual interests to disqualified organizations, if any person other than a Permitted Transferee acquires an Ownership Interest on a Class C Certificate in violation of the restrictions mentioned above.

C-1-4

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

Dated: October ___, 2006

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST COMPANY,

          not in its individual capacity,

          but solely as Trustee

      
	
        
        

      	
         

      	  	
        
        

      
	
        
        

      	
         

      	
        By 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      

 

  	
        This
          is one of the Certificates

          referenced in the within-mentioned Agreement

      	
         

      	
         

      
	 	 	 	 	 
	
        By 

      	
        
        

      	
         

      	
         

      	
        
        

      
	
         

      	
        
        

      	
         

      	
         

      	
         

      
	
         

      	
        Authorized
          Signatory of

          DEUTSCHE BANK NATIONAL TRUST COMPANY,

          as Certificate Registrar

      	
         

      	
         

      	
         

      

C-1-5

EXHIBIT C-2

FORM OF CLASS P CERTIFICATE

THIS CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT TO THE AGREEMENT REFERENCED HEREIN. 

THE HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS PROVIDED IN THE AGREEMENT.

THIS CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO, REGISTRATION.

THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF AGREES TO OFFER, SELL OR OTHERWISE TRANSFER SUCH CERTIFICATE ONLY (A) PURSUANT TO A REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT OR (B) TO A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A, AS EVIDENCED BY AN INVESTMENT LETTER DELIVERED BY THE TRANSFEREE TO THE CERTIFICATE REGISTRAR, IN SUBSTANTIALLY THE FORM ATTACHED TO THE AGREEMENT.

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE CERTIFICATE REGISTRAR SHALL HAVE RECEIVED EITHER (A) A REPRESENTATION LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS OF ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) IF THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING, A REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT THE PURCHASE AND HOLDING
OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF PTCE 95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO SECTION 4975 OF THE CODE WITHOUT THE DELIVERY TO THE CERTIFICATE REGISTRAR OF AN OPINION OF COUNSEL SATISFACTORY TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO EFFECT.

C-2-1

 

  	
        Certificate
          No.:

      	
        1

      
	 	 
	
        Cut-Off
          Date:

      	
        September
          1, 2006

      
	 	 
	
        First
          Distribution Date:

      	
        October
          19, 2006

      
	 	 
	
        Initial
          Certificate Principal

          Balance of this Certificate:

      	
        $100

      
	 	 
	
        Original
          Class

          Principal Balance of this

          Class:

      	
        $100

      
	 	 
	
        Percentage
          Interest:

      	
        100%

      
	 	 
	
        Class:

      	
        P

      

C-2-2

HarborView Mortgage Loan Trust 

Mortgage Loan Pass-Through Certificates, Series 2006-9

Class P

evidencing the Percentage Interest in the distributions allocable to the Certificates of the above-referenced Class with respect to the Trust Fund consisting primarily of first lien mortgage loans (the “Mortgage Loans”) purchased from others by

GREENWICH CAPITAL ACCEPTANCE, INC., as Depositor.

Funds in respect of this Certificate are distributable as set forth herein and in the pooling and servicing agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). Accordingly, the Certificate Principal Balance of this Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller or the Trustee referred to below or any of their respective affiliates.

This certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Denomination of this Certificate by the Original Class Certificate Principal Balance) in certain distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant to the Agreement. To the extent not defined herein, capitalized terms used herein have the meanings assigned 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 the acceptance hereof assents and by which such Holder is bound.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually authenticated by an authorized signatory of the Certificate Registrar.

No transfer of this Certificate shall be made unless the Certificate Registrar shall have received either (i) a representation letter from the transferee of such Certificate, acceptable to and in form and substance satisfactory to the Certificate Registrar and the Depositor and in substantially the form attached to the Agreement, to the effect that such transferee is not an employee benefit or other plan or arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on behalf or investing plan assets of any such plan or arrangement, which representation letter shall not be an expense of the Certificate Registrar or the Trustee, or (ii) if the purchaser is an insurance company, a representation that the
purchaser is an insurance company which is purchasing such Certificate with funds contained in an “insurance company general account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”)) and that the purchase and holding of such Certificate  are covered under Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance with the provisions of the Agreement. Notwithstanding anything else to the contrary herein, any purported transfer of this Certificate to or on behalf of an employee benefit plan subject to ERISA or to the Code without the opinion of counsel satisfactory to the Certificate Registrar as described above shall be void and of no effect.

C-2-3

Each
  Holder of this Certificate will be deemed to have agreed to be bound by the
  restrictions of the Agreement, including but not limited to the restrictions
  that (i) each person holding or acquiring any Ownership Interest in this Certificate
  must be a Permitted Transferee, (ii) no Ownership Interest in this Certificate
  may be transferred without delivery to the Trustee and the Certificate Registrar
  of (a) a transfer affidavit of the proposed transferee and (b) a transfer certificate
  of the transferor, each of such documents to be in the form described in the
  Agreement, (iii) each person holding or acquiring any Ownership Interest in
  this Certificate must agree to require a transfer affidavit and to deliver a
  transfer certificate to the Trustee and the Certificate Registrar as required
  pursuant to the Agreement, (iv) each person holding or acquiring an Ownership
  Interest in this Certificate must agree not to transfer an Ownership Interest
  in this Certificate if it has actual knowledge that the proposed transferee
  is not a Permitted Transferee and (v) 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.
  The Trustee will provide the Internal Revenue Service and any pertinent persons
  with the information needed to compute the tax imposed under the applicable
  tax laws on transfers of residual interests to disqualified organizations, if
  any person other than a Permitted Transferee acquires an Ownership Interest
  on a Class P Certificate in violation of the restrictions mentioned above.

C-2-4

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

Dated:  October ___, 2006

  	

 
 	

 
 	

DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
	

  
 	

 
 	

not in its individual capacity,
 but solely as Trustee
 
	

 
 	

 
 	
        
 By 
 	

  
 
	

 
 	

 
 	

 
 	

 

 

This is one of the Certificates

referenced in the within-mentioned Agreement

 

  	

 
 	

 
 	

 
 
	
        By 

      	

  
 	

 
 	

 
 	

 
 
	

 
 	

 	

 
 	

 
 	

 
 
	

 
 	

Authorized Signatory of
 DEUTSCHE BANK NATIONAL TRUST COMPANY,
 as Certificate Registrar
 	

 
 	

 
 	

 
 

C-2-5

EXHIBIT C-3

FORM OF CLASS R CERTIFICATE

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, AS AMENDED (THE “CODE”).

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE PROPOSED TRANSFEREE DELIVERS TO THE TRUSTEE AND THE CERTIFICATE REGISTRAR A TRANSFER AFFIDAVIT IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN.

NEITHER THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF THE CODE OR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN OR ARRANGEMENT OR USING PLAN ASSETS OF ANY SUCH PLAN OR ARRANGEMENT TO EFFECT THE TRANSFER, OR (B) A REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE 95-60”) AND THAT THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I AND III OF PTCE-95-60, OR
(C) AN OPINION OF COUNSEL IN ACCORDANCE WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE TO OR ON BEHALF OF AN EMPLOYEE BENEFIT PLAN SUBJECT TO ERISA OR TO THE CODE WITHOUT THE OPINION OF COUNSEL SATISFACTORY TO THE CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO EFFECT.

 

  	
        Certificate
          No.:

      	
        1

      
	 	 
	
        Cut-Off
          Date:

      	
        September
          1, 2006

      
	 	 
	
        Percentage
          Interest:

      	
        100%

      
	 	 
	
        Class:

      	
        R

      

C-3-1

HarborView Mortgage Loan Trust

Mortgage Loan Pass-Through Certificates, Series 2006-9

Class R

evidencing the Percentage Interest in the distributions allocable to the Certificates of the above-referenced Class with respect to the Trust Fund consisting primarily of first lien mortgage loans (the “Mortgage Loans”) purchased from others by

GREENWICH CAPITAL ACCEPTANCE, INC., as Depositor.

Funds in respect of this Certificate are distributable as set forth herein and in the pooling and servicing agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), Greenwich Capital Financial Products, Inc., as seller (the “Seller”) and Deutsche Bank National Trust Company, as trustee (the “Trustee”). Accordingly, the Certificate Principal Balance of this Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Seller or the Trustee referred to below or any of their respective affiliates.

This certifies that GREENWICH CAPITAL ACCEPTANCE, INC. is the registered owner of the Percentage Interest evidenced by this Certificate (obtained by dividing the Denomination of this Certificate by the Original Class Certificate Principal Balance) in certain distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by the Depositor. The Trust Fund was created pursuant to the Agreement. To the extent not defined herein, capitalized terms used herein have the meanings assigned 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 the acceptance hereof assents and by which such Holder is bound.

Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually authenticated by an authorized signatory of the Certificate Registrar.

No transfer of this Certificate shall be made unless the Certificate Registrar shall have received either (i) a representation letter from the transferee of such Certificate, acceptable to and in form and substance satisfactory to the Trustee and the Certificate Registrar and in substantially the form attached to the Agreement, to the effect that such transferee is not an employee benefit or other plan or arrangement subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”) or Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”), nor a person acting on behalf or investing plan assets of any such plan or arrangement, which representation letter shall not be an expense of the Certificate Registrar or the Trustee, or (ii) if the purchaser is an insurance company, a representation that the
purchaser is an insurance company which is purchasing such Certificate with funds contained in an “insurance company general account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”)) and that the purchase and holding of such Certificate  are covered under Sections I and III of PTCE 95-60, or (iii) an Opinion of Counsel in accordance with the provisions of the Agreement. Notwithstanding anything else to the contrary herein, any purported transfer of this Certificate to or on behalf of an employee benefit plan subject to ERISA or to the Code without the opinion of counsel satisfactory to the Certificate Registrar as described above shall be void and of no effect.

C-3-2

Each Holder of this Certificate will be deemed to have agreed to be bound by the restrictions of the Agreement, including but not limited to the restrictions that (i) each person holding or acquiring any Ownership Interest in this Certificate must be a Permitted Transferee, (ii) no Ownership Interest in this Certificate may be transferred without delivery to the Trustee and the Certificate Registrar of (a) a transfer affidavit of the proposed transferee and (b) a transfer certificate of the transferor, each of such documents to be in the form described in the Agreement, (iii) each person holding or acquiring any Ownership Interest in this Certificate must agree to require a transfer affidavit and to deliver a transfer certificate to the Trustee and the Certificate Registrar as required pursuant to the Agreement, (iv) each person holding or acquiring an Ownership Interest in this Certificate
must agree not to transfer an Ownership Interest in this Certificate if it has actual knowledge that the proposed transferee is not a Permitted Transferee and (v) 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. The Trustee will provide the Internal Revenue Service and any pertinent persons with the information needed to compute the tax imposed under the applicable tax laws on transfers of residual interests to disqualified organizations, if any person other than a Permitted Transferee acquires an Ownership Interest on a Class R Certificate in violation of the restrictions mentioned above.

C-3-3

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

Dated:  October ___, 2006

 

  	

 
 	

 
 	

DEUTSCHE BANK NATIONAL TRUST COMPANY,
 
	

  
 	

 
 	

not in its individual capacity,
 but solely as Trustee
 
	

 
 	

 
 	
        
 By
 	

  
 
	

 
 	

 
 	

 
 	

 

This is one of the Certificates

referenced in the within-mentioned Agreement

 

  	

 
 	

 
 	

 
 
	
        By 

      	

  
 	

 
 	

 
 	

 
 
	

 
 	

 	

 
 	

 
 	

 
 
	

 
 	

Authorized Signatory of
 DEUTSCHE BANK NATIONAL TRUST COMPANY,
 as Certificate Registrar
 	

 
 	

 
 	

 
 

C-3-4

EXHIBIT D

FORM OF REVERSE CERTIFICATE

HarborView Mortgage Loan Trust

Mortgage Loan Pass-Through Certificates, Series 2006-9

Reverse Certificate

This Certificate is one of a duly authorized issue of Certificates designated as HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-9 (herein collectively called the “Certificates”), and representing a beneficial ownership interest in the Trust Fund created by the Agreement.

The Certificateholder, by its acceptance of this Certificate, agrees that it will look solely to the funds on deposit in the Distribution Account for payment hereunder and that the Trustee is not liable to the Certificateholder 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 thereby, and the rights, duties and immunities of the Trustee.

Pursuant to the terms of the Agreement, distributions will be made on the 19th day of each month, or if the 19th day is not a Business Day, then on the next succeeding Business Day (the “Distribution Date”), commencing on the Distribution Date in October 2006, to the Person in whose name this Certificate is registered at the close of business on the applicable Record Date in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the amount required to be distributed to Holders of Certificates of the Class to which this Certificate belongs on such Distribution Date pursuant to the Agreement.

Distributions on this Certificate shall be made, (i) in the case of a Physical Certificate, by check or money order mailed to the address of the person entitled thereto as it appears on the Certificate Register or, upon the request of a Certificateholder, by wire transfer as set forth in the Agreement and (ii) in the case of a Book-Entry Certificate, to the Depository, which shall credit the amounts of such distributions to the accounts of its Depository Participants in accordance with its normal procedures. The final distribution on each Certificate shall be made in like manner, but only upon presentment and surrender of such Certificate at the office or agency of the Certificate Registrar specified in the notice to Certificateholders of such final distribution.

The Agreement permits, with certain exceptions therein provided, the amendment thereof and the modification of the rights of the Certificateholders under the Agreement at any time, by the Depositor, the Seller, the Trustee and Holders of the requisite percentage of the Percentage Interests of each Class of Certificates affected by such amendment, as specified in the Agreement. 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 exchange therefor 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.

D-1

As provided in the Agreement and subject to certain limitations therein set forth, the transfer of this Certificate is registrable in the Certificate Register of the Certificate Registrar upon surrender of this Certificate for registration of transfer at the office or agency maintained by the Certificate Registrar accompanied by a written instrument of transfer in form satisfactory to the Certificate Registrar duly executed by the Holder hereof or such Holder’s attorney duly authorized in writing, and thereupon one or more new Certificates of the same Class in authorized denominations and evidencing the same aggregate Percentage Interest in the Trust Fund will be issued to the designated transferee or transferees. The Certificates are issuable only as registered Certificates without coupons in denominations specified in the Agreement. As provided in the Agreement and
subject to certain limitations set forth therein, Certificates are exchangeable for new Certificates of the same Class in authorized denominations and evidencing the same aggregate Percentage Interest, as requested by the Holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Certificate Registrar may require payment of a sum sufficient to cover any tax or other governmental charge payable in connection therewith.

Subject to the terms of the Agreement, each Class of Book-Entry Certificates will be registered as being held by the Depository or its nominee and beneficial interests will be held by Certificate Owners through the book-entry facilities of the Depository or its nominee in minimum denominations of $25,000 and integral dollar multiples of $1 in excess thereof, provided, that, such certificates must be purchased in minimum total investments of at least $100,000.

Each of the Class C, Class P and Class R Certificates shall be issued as a single certificate and will be maintained in physical form.

The Depositor, the Seller, the Trustee, the Certificate Registrar and any agent of the foregoing may treat the Person in whose name this Certificate is registered as the owner hereof for all purposes, and none of the Depositor, the Seller, the Trustee, the Certificate Registrar or any agent of any of them shall be affected by any notice to the contrary.

On any Distribution Date following the date on which the aggregate of the Stated Principal Balances of the Mortgage Loans on such date is equal to or less than 10% of the Cut-Off Date Aggregate Principal Balance, the Servicer, with the prior written consent of the NIMS Insurer or at the direction of the NIMS Insurer may, at its option, terminate the Agreement by purchasing all of the outstanding Mortgage Loans and REO Properties at the Termination Price as provided in the Agreement. In the event that the Servicer does not exercise its right of optional termination, the obligations and responsibilities created by the Agreement will terminate upon the earliest of (i) the Distribution Date on which the Class Certificate Principal Balance of each Class of Certificates has been reduced to zero, (ii) the final payment or other liquidation of the last Mortgage Loan and (iii) the
Latest Possible Maturity Date.

To the extent not defined herein, capitalized terms used herein have the meanings assigned to them in the Agreement, and nothing herein shall be deemed inconsistent with that meaning.

D-2

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)

the Percentage Interest evidenced by the within Certificate and hereby authorizes the transfer of registration of such Percentage Interest to assignee on the Certificate Register of the Trust.

I (We) further direct the Trustee 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
 	

 
 

D-3

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  _________________________________________________________________________________,

 the assignee named above,
  or __________________________________________________________________________________________,
  

as its agent.

D-4

EXHIBIT E

[RESERVED]

E-1

EXHIBIT F

REQUEST FOR RELEASE 

 

	

 
 	

 
 	

 
 
	

 
 	

 	

 
 
	

 
 	

Date
 	

 
 

[Addressed to Trustee

or, if applicable, custodian]

In connection with the administration of the mortgages held by you as [Trustee] [Custodian, on behalf of the Trustee] under a certain Pooling Agreement dated as of September 1, 2006 among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller, and Deutsche Bank National Trust Company, as Trustee (the “Pooling Agreement”), the undersigned [Servicer] hereby requests a release of the Mortgage File held by you as [Trustee] [Custodian, on behalf of the Trustee] with respect to the following described Mortgage Loan for the reason indicated below.

Mortgagor’s Name:

Address:

Loan No.:

Reason for requesting file:

1. Mortgage Loan paid in full. (The [Servicer] hereby certifies that all amounts received in connection with the loan have been or will be credited to a Servicing Account or the Distribution Account (whichever is applicable) pursuant to the Pooling and Servicing Agreement.)

2. The Mortgage Loan is being foreclosed.

3. Mortgage Loan substituted. (The [Servicer] hereby certifies that a Qualified Substitute Mortgage Loan has been assigned and delivered to you along with the related Mortgage File pursuant to the Pooling and Servicing Agreement.)

4. Mortgage Loan repurchased. (The [Servicer] hereby certifies that the Purchase Price has been credited to a Servicing Account or the Distribution Account (whichever is applicable) pursuant to the Pooling and Servicing Agreement.)

5. Other. (Describe)

F-1

The undersigned acknowledges that the above Mortgage File will be held by the undersigned in accordance with the provisions of the Pooling and Servicing Agreement and will be returned to you within ten (10) days of our receipt of the Mortgage File, except if the Mortgage Loan has been paid in full, or repurchased or substituted for a Qualified Substitute Mortgage Loan (in which case the Mortgage File will be retained by us without obligation to return to you).

Capitalized terms used herein shall have the meanings ascribed to them in the Pooling and Servicing Agreement.

 

  	
         
 	
         
 	
         
 	
         
 
	

 
 	

 
 	

 	

 
	

 
 	

 
 	

 
 	
        [Name of [Servicer]]
 
	

  
 	

 
 	
         By:
 	

  
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

 
 	

Name:
 
	

 
 	

 
 	

 
 	

Title: Servicing Officer
 

F-2

EXHIBIT G-1

FORM OF RECEIPT OF MORTGAGE NOTE

RECEIPT OF MORTGAGE NOTE

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830

	

 
 	

Re: 
 	
        HarborView
          Mortgage Loan Trust 

          Mortgage Loan Pass-Through Certificates, Series 2006-9

      

Ladies and Gentlemen:

Pursuant to Section 2.01 of the Pooling and Servicing Agreement dated as of September 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee, we hereby acknowledge the receipt of the original Mortgage Note with respect to each Mortgage Loan listed on Exhibit 1, with any exceptions thereto listed on Exhibit 2.

 

  	

 
 	

 
 	

DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee
 
	

  
 	

 
 	
        

          By: 

      	

  
 
	

 
 	

 
 	
         
 	

 
	

 
 	

 
 	
        Name:
 	

 
 
	

 
 	

 
 	
        Title:
 	

 
 

Dated: 

G-1-1

EXHIBIT 1

MORTGAGE LOAN SCHEDULE

[To be retained in a separate closing binder entitled “HarborView 2006-9 Mortgage Loan Schedule” at the Washington DC offices of McKee Nelson LLP] 

G-1-2

EXHIBIT 2

EXCEPTION REPORT

[To be retained in a separate closing binder entitled “HarborView 2006-9 Mortgage Loan Schedule” at the Washington DC offices of McKee Nelson LLP]

G-1-3

EXHIBIT G-2

FORM OF INTERIM CERTIFICATION OF TRUSTEE

INTERIM CERTIFICATION OF TRUSTEE

[date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830

Greenwich Capital Financial Products, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830

	

 
 	

Re:
 	

Pooling and Servicing Agreement dated as of September 1, 2006,  among Greenwich Capital Acceptance, Inc., 

  as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National
  Trust Company,

  as Trustee, HarborView Mortgage Loan Trust Mortgage  Loan Pass-Through Certificates, Series 2006-9
 

Ladies and Gentlemen:

In accordance with Section 2.02 of the above-captioned Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee, hereby certifies that, as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or listed on the attached schedule) it has received:

	

 
 	

(i)
 	

all documents required to be delivered to the Trustee pursuant to Section 2.01 of the Pooling and Servicing Agreement are in its possession;
 

	

 
 	

(ii)
 	

such documents have been reviewed by the Trustee and have not been mutilated, damaged or torn and relate to such Mortgage Loan; and
 

	

 
 	

(iii)
 	

based on the Trustee’s examination and only as to the foregoing, the information set forth in the Mortgage Loan Schedule that corresponds to items (i), (ii), (xx), (xxi) and (xxiv) of the Mortgage Loan Schedule accurately reflects information set forth in the Mortgage File.
 

Based on its review and examination and only as to the foregoing documents, such documents appear regular on their face and related to such Mortgage Loan.

The Trustee has made no independent examination of any documents contained in each Mortgage File beyond the review specifically required in the Pooling and Servicing Agreement. The Trustee makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any of the documents contained in each Mortgage File of any of the Mortgage Loans identified on the Mortgage Loan Schedule, or (ii) the collectibility, insurability, effectiveness or suitability of any such Mortgage Loan.

G-2-1

Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

 

	

 
 	

 
 	

DEUTSCHE BANK NATIONAL TRUST COMPANY, as Trustee
 
	

  
 	

 
 	
        

          By: 

      	

  
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

Name:
 	

 
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

Title:
 	

 
 
	

 
 	

 
 	

 
 	

 

G-2-2

EXHIBIT G-3

FORM OF FINAL CERTIFICATION OF TRUSTEE

FINAL CERTIFICATION OF TRUSTEE

[date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830 

Greenwich Capital Financial Products, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830 

	

 
 	

Re:
 	

Pooling
    and Servicing Agreement dated as of September 1, 2006, among Greenwich Capital
    Acceptance, Inc., 

as Depositor, Greenwich Capital Financial Products, Inc.,
    as Seller and Deutsche Bank National Trust Company, 

as Trustee, HarborView
    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-9
 

Ladies and Gentlemen:

In accordance with Section 2.02 of the above-captioned Pooling and Servicing Agreement (the “Pooling and Servicing Agreement”), the undersigned, as Trustee, hereby certifies that as to each Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or listed on the attached Document Exception Report) it has received all documents required to be delivered to the Trustee pursuant to Section 2.01 of the Pooling and Servicing Agreement.

Based on its review and examination and only as to the foregoing documents, (a) such documents appear regular on their face and related to such Mortgage Loan, and (b) the information set forth in items (i), (ii), (xx), (xxi) and (xxiv) of the definition of the “Mortgage Loan Schedule” in Section 1.01 of the Pooling and Servicing Agreement accurately reflects information set forth in the Mortgage File.

The Trustee has made no independent examination of any documents contained in each Mortgage File beyond the review specifically required in the Pooling and Servicing Agreement. The Trustee makes no representations as to: (i) the validity, legality, sufficiency, enforceability or genuineness of any of the documents contained in each Mortgage File of any of the Mortgage Loans identified on the Mortgage Loan Schedule, or (ii) the collectibility, insurability, effectiveness or suitability of any such Mortgage Loan.

Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

G-3-1

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST COMPANY, as Trustee

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
        Name:

      	
         

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
        Title:

      	
         

      
	
         

      	
         

      	
         

      	
        
        

      

G-3-2

EXHIBIT H

FORM OF LOST NOTE AFFIDAVIT

Personally appeared before me the undersigned authority to administer oaths, ______________________ who first being duly sworn deposes and says:  Deponent is ______________________ of Greenwich Capital Financial Products, Inc. (the “Seller”) and who has personal knowledge of the facts set out in this affidavit.

On ___________________, _________________________ did execute and deliver a promissory note in the principal amount of $__________.

That said note has been misplaced or lost through causes unknown and is currently lost and unavailable after diligent search has been made. The Seller’s records show that an amount of principal and interest on said note is still presently outstanding, due, and unpaid, and such Seller is still owner and holder in due course of said lost note.

The Seller executes this Affidavit for the purpose of inducing Deutsche Bank National Trust Company, as trustee on behalf of HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series 2006-9, to accept the transfer of the above described loan from the Seller.

The Seller agrees to indemnify Deutsche Bank National Trust Company and Greenwich Capital Acceptance, Inc. and hold them harmless for any losses incurred by such parties resulting from the fact that the above described Note has been lost or misplaced.

 

	

By: 
 	

  
 	

 
 	

 
 	

 
 
	

 
 	

 	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
 	

 
 	

 
 
	

 
 	

 	

 
 	

 
 	

 
 

 

	

STATE OF 
 	

)
 	

 
 
	

 
 	

)
 	

ss:
 
	

COUNTY OF
 	

)
 	

 
 

On this ____ day of ___________ 20__, before me, a Notary Public, in and for said County and State, appeared ________________________, who acknowledged the extension of the foregoing and who, having been duly sworn, states that any representations therein contained are true.

Witness my hand and Notarial Seal this ____ day of _______ 20__.

 

 

My commission expires _______________.

H-1

EXHIBIT I-1

FORM OF ERISA REPRESENTATION FOR RESIDUAL CERTIFICATE

[Date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830

Deutsche Bank National Trust Company

1761 East St. Andrew Place, 

Santa Ana, CA 92705-4934 

Attention: GC0605

	

 
 	

Re: 
 	

Harbor
    View Mortgage Loan Trust Mortgage Loan Pass-Through Certificates, Series
    2006-9, Class R Certificate
 

Ladies and Gentlemen:

1. The undersigned is the ______________________ of _________________ (the “Transferee”), a [corporation duly organized] and existing under the laws of __________, on behalf of which she makes this affidavit.

2.  The Transferee either (x) is not an employee benefit plan subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a plan or arrangement subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on behalf of any such Plan nor using the assets of any such Plan to effect the transfer; (y) if the Certificate has been the subject of a best efforts or firm commitment underwriting or private placement that meets the requirements of Prohibited Transaction Exemption 2002-41, and is an insurance company which is purchasing such Certificates with funds contained in an “insurance company general account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”) and that
the purchase and holding of such Certificates are covered under Section I and III of PTCE 95-60; or (z) shall deliver to the Certificate Registrar an opinion of counsel (a “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon which the Certificate Registrar shall be entitled to rely, to the effect that the purchase or holding of such Certificate by the Transferee will not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code and will not subject the Trustee, the Certificate Registrar, the Servicer or the Depositor to any obligation in addition to those undertaken by such entities in the Pooling and Servicing Agreement, which opinion of counsel shall not be an expense of the Trustee, the Certificate Registrar the Depositor or the Trust Fund.

I-1-1

3. The Transferee hereby acknowledges that under the terms of the Pooling and Servicing Agreement dated as of September 1, 2006 (the “Agreement”) among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee, no transfer of any ERISA-Restricted Certificate in the form of a Definitive Certificate shall be permitted to be made to any person unless the Depositor and the Certificate Registrar have received a certificate from such transferee in the form hereof.

Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

IN WITNESS WHEREOF, the Transferee has executed this certificate.

 

  	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
	

 
 	

 
 	

[Transferee]
 
	

  
 	

 
 	
        

          By: 

      	

  
 
	

 
 	

 
 	
         
 	

 
	

 
 	

 
 	
         
 	

Name:
 
	

 
 	

 
 	
         
 	

Title:
 

I-1-2

EXHIBIT I-2

FORM OF ERISA REPRESENTATION

FOR ERISA RESTRICTED TRUST CERTIFICATES

[Date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06830

Deutsche Bank National Trust Company

1761 East St. Andrew Place, 

Santa Ana, CA 92705-4934 

Attention: GC0605

	
       

    	
      Re:

    	
      HarborView
        Mortgage Loan Trust Mortgage Loan Pass-Through 

        Certificates, Series 2006-9, ERISA Restricted Trust Certificates

    

Ladies and Gentlemen:

1. The undersigned is the ______________________ of _________________ (the “Transferee”), a [corporation duly organized] and existing under the laws of __________, on behalf of which she makes this affidavit.

2. The Transferee either (x) is not an employee benefit plan subject to Section 406 of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or a plan or arrangement subject to Section 4975 of the Internal Revenue Code of 1986, as amended (the “Code”) (collectively, a “Plan”) nor a person acting on behalf of any such Plan nor using the assets of any such Plan to effect the transfer; (y) if the Certificate has been the subject of a best efforts or firm commitment underwriting or private placement that meets the requirements of Prohibited Transaction Exemption 2002-41, and is an insurance company which is purchasing such Certificates with funds contained in an “insurance company general account” (as such term is defined in Section V(e) of Prohibited Transaction Class Exemption 95-60 (“PTCE 95-60”) and that
the purchase and holding of such Certificates are covered under Section I and III of PTCE 95-60; or (z) shall deliver to the Certificate Registrar an opinion of counsel (a “Benefit Plan Opinion”) satisfactory to the Certificate Registrar, and upon which the Certificate Registrar and any NIMS Insurer shall be entitled to rely, to the effect that the purchase or holding of such Certificate by the Transferee will not result in a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code and will not subject the Trustee, the Certificate Registrar, the Servicer, any NIMS Insurer or the Depositor to any obligation in addition to those undertaken by such entities in the Pooling and Servicing Agreement, which opinion of counsel shall not be an expense of the Trustee, the Certificate Registrar the Depositor or the Trust Fund.

I-2-1

 

  3.
    The Transferee hereby acknowledges that under the terms of the Pooling and
    Servicing Agreement dated as of September 1, 2006 (the “Agreement”)
    among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital
    Financial Products, Inc., as Seller and Deutsche Bank National Trust Company,
    as Trustee, no transfer of any ERISA-Restricted Certificate in the form of
    a Definitive Certificate shall be permitted to be made to any person unless
    the Depositor and the Certificate Registrar have received a certificate from
    such transferee in the form hereof.

Capitalized
    words and phrases used herein shall have the respective meanings assigned
    to them in the Pooling and Servicing Agreement.

IN WITNESS WHEREOF, the Transferee has executed this certificate.

 

  	
         

      	
         

      	
         

      	
         

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        [Transferee]

      
	 	 	 	 	 	 
	
         

      	
         

      	
         

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      	
         

      	
        Name: 

      
	
         

      	
         

      	
         

      	
         

      	
         

      	
        Title: 

      

I-2-2

EXHIBIT J-1

FORM OF INVESTMENT LETTER [NON-RULE 144A]

[date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut  06830

Deutsche Bank National Trust Company

1761 East St. Andrew Place, 

Santa Ana, CA 92705-4934 

Attention: GC0605

 

	

 
 	

Re:
 	

HarborView
    Mortgage Loan Trust Mortgage Loan
 

Pass-Through
  Certificates, Series 2006-9, Class [C][P][R]

Ladies and Gentlemen:

In connection with our acquisition the Class [C][P][R] Certificates (the “Certificates”) of the above-captioned series, we certify that (a) we understand that the Certificates are not being registered under the Securities Act of 1933, as amended (the “Act”), or any state securities laws and are being transferred to us in a transaction that is exempt from the registration requirements of the Act and any such laws, (b) we are an “accredited investor,” as defined in Regulation D under the Act, and have such knowledge and experience in financial and business matters that we are capable of evaluating the merits and risks of investments in the Certificates, (c) we have had the opportunity to ask questions of and receive answers from the Depositor concerning the purchase of the Certificates and all matters relating thereto or any additional
information deemed necessary to our decision to purchase the Certificates, (d) we are acquiring the Certificates for investment for our own account and not with a view to any distribution of such Certificates (but without prejudice to our right at all times to sell or otherwise dispose of the Certificates in accordance with clause (f) below), (e) we have not offered or sold any Certificates to, or solicited offers to buy any Certificates from, any person, or otherwise approached or negotiated with any person with respect thereto, or taken any other action which would result in a violation of Section 5 of the Act, and (f) we will not sell, transfer or otherwise dispose of any Certificates unless (1) such sale, transfer or other disposition is made pursuant to an effective registration statement under the Act or is exempt from such registration requirements, and if requested, we will at our expense provide an opinion of counsel satisfactory to the addressees of this Certificate that
such sale, transfer or other disposition may be made pursuant to an exemption from the Act, (2) the purchaser or transferee of such Certificate has executed and delivered to you a certificate to substantially the same effect as this certificate, and (3) the purchaser or transferee has otherwise complied with any conditions for transfer set forth in the Pooling and Servicing Agreement.

J-1-1

Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

 

  	
         

      	
         

      	
        Very
          truly yours,

      
	 	 	 
	
         

      	
         

      	
        [NAME
          OF TRANSFEREE]

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Authorized
          Officer

      

J-1-2

EXHIBIT J-2

FORM OF RULE 144A INVESTMENT LETTER

[date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut  06830

Deutsche Bank National Trust Company

1761 East St. Andrew Place, 

Santa Ana, CA 92705-4934 

Attention: GC0605

	

 
 	

Re:
 	

HarborView Mortgage Loan Trust Mortgage Loan
 

Pass-Through
  Certificates, Series 2006-9, Class [C][P][R]
   

Ladies and Gentlemen:

In connection with our acquisition of the Class [C][P][R] Certificates (the “Certificates”) of the above-captioned series, we certify that (a) we understand that the Certificates are not being registered under the Securities Act of 1933, as amended (the “Act”), or any state securities laws and are being transferred to us in a transaction that is exempt from the registration requirements of the Act and any such laws, (b) we have had the opportunity to ask questions of and receive answers from the Depositor concerning the purchase of the Certificates and all matters relating thereto or any additional information deemed necessary to our decision to purchase the Certificates, (c) we have not, nor has anyone acting on our behalf offered, transferred, pledged, sold or otherwise disposed of the Certificates, any interest in the Certificates or any other similar
security to, or solicited any offer to buy or accept a transfer, pledge or other disposition of the Certificates, any interest in the Certificates or any other similar security from, or otherwise approached or negotiated with respect to the Certificates, any interest in the Certificates 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, that would constitute a distribution of the Certificates under the Securities Act or that would render the disposition of the Certificates a violation of Section 5 of the Securities Act or require registration pursuant thereto, nor will act, nor has authorized or will authorize any person to act, in such manner with respect to the Certificates, and (d) we are a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act and have completed either of the forms of certification to that
effect attached hereto as Annex 1 or Annex 2. We are aware that the sale to us is being made in reliance on Rule 144A. We are acquiring the Certificates for our own account or for resale pursuant to Rule 144A and further, understand that such Certificates may be resold, pledged or transferred only (i) to 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 on Rule 144A, or (ii) pursuant to another exemption from registration under the Securities Act.

J-2-1

Capitalized words and phrases used herein shall have the respective meanings assigned to them in the Pooling and Servicing Agreement.

 

  	
         

      	
         

      	
        Very
          truly yours,

      
	 	 	 
	
         

      	
         

      	
        [NAME
          OF TRANSFEREE]

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
         

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Authorized
          Officer

      

J-2-2

ANNEX
  1 TO EXHIBIT J-2

QUALIFIED
  INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

[For Transferees Other Than Registered Investment Companies]

The undersigned (the “Buyer”) hereby certifies as follows to the parties listed in the Rule 144A Transferee Certificate to which this certification relates with respect to the Certificates described therein:

i. As indicated below, the undersigned is the President, Chief Financial Officer, Senior Vice President or other executive officer of the Buyer.

ii. In connection with purchases by the Buyer, the Buyer is a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”) because (i) the Buyer owned and/or invested on a discretionary basis $________1 in securities (except for the excluded securities referred to below) as of the end of the Buyer’s most recent fiscal year (such amount being calculated in accordance with Rule 144A and (ii) the Buyer satisfies the criteria in the category marked below.

___     Corporation,
  etc. The Buyer is a corporation (other
  than a bank, savings and loan association or similar institution), Massachusetts
  or similar business trust, partnership, or charitable organization described
  in Section 501(c)(3) of the Internal Revenue Code of 1986, as amended.

___     Bank.
  The Buyer (a) is a national bank or banking institution organized under the
  laws of any State, territory or the District of Columbia, the business of which
  is substantially confined to banking and is supervised by the State or territorial
  banking commission or similar official or is a foreign bank or equivalent institution,
  and (b) has an audited net worth of at least $25,000,000 as demonstrated in
  its latest annual financial statements, a
  copy of which is attached hereto.

___     Savings
  and Loan. The Buyer (a) is a savings
  and loan association, building and loan association, cooperative bank, homestead
  association or similar institution, which is supervised and examined by a State
  or Federal authority having supervision over any such institutions or is a foreign
  savings and loan association or equivalent institution and (b) has an audited
  net worth of at least $25,000,000 as demonstrated in its latest annual financial
  statements, a copy of which is attached
  hereto.

___     Broker-dealer.
  The Buyer is a dealer registered pursuant to Section 15 of the Securities Exchange
  Act of 1934.

	

1
 	

Buyer must own and/or invest on a discretionary basis at least $100,000,000 in securities unless Buyer is a dealer, and, in that case, Buyer must own and/or invest on a discretionary basis at least $10,000,000 in securities.
 

J-2-3

___     Insurance
  Company. The Buyer is an insurance
  company whose primary and predominant business activity is the writing of insurance
  or the reinsuring of risks underwritten by insurance companies and which is
  subject to supervision by the insurance commissioner or a similar official or
  agency of a State, territory or the District of Columbia.

___     State
  or Local Plan. The Buyer is a plan
  established and maintained by a State, its political subdivisions, or any agency
  or instrumentality of the State or its political subdivisions, for the benefit
  of its employees.

___     ERISA
  Plan. The Buyer is an employee benefit
  plan within the meaning of Title I of the Employee Retirement Income Security
  Act of 1974.

___     Investment
  Advisor. The Buyer is an investment
  advisor registered under the Investment Advisors Act of 1940.

___     Small
  Business
  Investment Company. Buyer is 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.

___     Business
  Development
  Company. Buyer is a business development
  company as defined in Section 202(a)(22) of the Investment Advisors Act of 1940.

iii. The term “securities” as used herein does not include (i) securities of issuers that are affiliated with the Buyer, (ii) securities that are part of an unsold allotment to or subscription by the Buyer, if the Buyer is a dealer, (iii) securities issued or guaranteed by the U.S. or any instrumentality thereof, (iv) bank deposit notes and certificates of deposit, (v) loan participations, (vi) repurchase agreements, (vii) securities owned but subject to a repurchase agreement and (viii) currency, interest rate and commodity swaps.

iv. For purposes of determining the aggregate amount of securities owned and/or invested on a discretionary basis by the Buyer, the Buyer used the cost of such securities to the Buyer and did not include any of the securities referred to in the preceding paragraph, except (i) where the Buyer reports its securities holdings in its financial statements on the basis of their market value, and (ii) no current information with respect to the cost of those securities has been published. If clause (ii) in the preceding sentence applies, the securities may be valued at market. Further, in determining such aggregate amount, the Buyer may have included securities owned by subsidiaries of the Buyer, but only if such subsidiaries are consolidated with the Buyer in its financial statements prepared in accordance with generally accepted accounting principles and if the investments of such
subsidiaries are managed under the Buyer’s direction. However, such securities were not included if the Buyer is a majority-owned, consolidated subsidiary of another enterprise and the Buyer is not itself a reporting company under the Securities Exchange Act of 1934, as amended.

v. The Buyer acknowledges that it is familiar with Rule 144A and understands that the seller to it and other parties related to the Certificates are relying and will continue to rely on the statements made herein because one or more sales to the Buyer may be in reliance on Rule 144A.

J-2-4

vi. Until the date of purchase of the Rule 144A Securities, the Buyer will notify each of the parties to which this certification is made of any changes in the information and conclusions herein. Until such notice is given, the Buyer’s purchase of the Certificates will constitute a reaffirmation of this certification as of the date of such purchase. In addition, if the Buyer is a bank or savings and loan is provided above, the Buyer agrees that it will furnish to such parties updated annual financial statements promptly after they become available.

 

  	
         

      	
         

      	
         

      	
         

      	
         

      
	
         

      	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      	
        Print
          Name of Buyer

      
	 	 	 	 	 
	
         

      	
         

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
         

      	
        Name: 

      
	
         

      	
         

      	
         

      	
         

      	
        Title: 

      
	
         

      	
         

      	
         

      	
        Date: 

      	
         

      
	
         

      	
         

      	
         

      	
         

      	
        
        

      

J-2-5

ANNEX 2 TO EXHIBIT J-2

QUALIFIED INSTITUTIONAL BUYER STATUS UNDER SEC RULE 144A

[For Transferees That are Registered Investment Companies]

The undersigned (the “Buyer”) hereby certifies as follows to the parties listed in the Rule 144A Transferee Certificate to which this certification relates with respect to the Certificates described therein:

1. As indicated below, the undersigned is the President, Chief Financial Officer or Senior Vice President of the Buyer or, if the Buyer is a “qualified institutional buyer” as that term is defined in Rule 144A under the Securities Act of 1933, as amended (“Rule 144A”) because Buyer is part of a Family of Investment Companies (as defined below), is such an officer of the Adviser.

2. In connection with purchases by Buyer, the Buyer is a “qualified institutional buyer” as defined in SEC Rule 144A because (i) the Buyer is an investment company registered under the Investment Company Act of 1940, as amended and (ii) as marked below, the Buyer alone, or the Buyer’s Family of Investment Companies, owned at least $100,000,000 in securities (other than the excluded securities referred to below) as of the end of the Buyer’s most recent fiscal year. For purposes of determining the amount of securities owned by the Buyer or the Buyer’s Family of Investment Companies, the cost of such securities was used, except (i) where the Buyer or the Buyer’s Family of Investment Companies reports its securities holdings in its financial statements on the basis of their market value, and (ii) no current information with respect to the cost of
those securities has been published. If clause (ii) in the preceding sentence applies, the securities may be valued at market.

___ The Buyer owned $__________ in securities (other than the excluded securities referred to below) as of the end of the Buyer’s most recent fiscal year (such amount being calculated in accordance with Rule 144A).

___ The Buyer is part of a Family of Investment Companies which owned in the aggregate $__________ in securities (other than the excluded securities referred to below) as of the end of the Buyer’s most recent fiscal year (such amount being calculated in accordance with Rule 144A).

3. The term “Family of Investment Companies” as used herein means two or more registered investment companies (or series thereof) that have the same investment adviser or investment advisers that are affiliated (by virtue of being majority owned subsidiaries of the same parent or because one investment adviser is a majority owned subsidiary of the other).

4. The term “securities” as used herein does not include (i) securities of issuers that are affiliated with the Buyer or are part of the Buyer’s Family of Investment Companies, (ii) securities issued or guaranteed by the U.S. or any instrumentality thereof, (iii) bank deposit notes and certificates of deposit, (iv) loan participations, (v) repurchase agreements, (vi) securities owned but subject to a repurchase agreement and (vii) currency, interest rate and commodity swaps.

J-2-6

5. The Buyer is familiar with Rule 144A and understands that the parties listed in the Rule 144A Transferee Certificate to which this certification relates are relying and will continue to rely on the statements made herein because one or more sales to the Buyer will be in reliance on Rule 144A. In addition, the Buyer will only purchase for the Buyer’s own account.

6. Until the date of purchase of the Certificates, the undersigned will notify the parties listed in the Rule 144A Transferee Certificate to which this certification relates of any changes in the information and conclusions herein. Until such notice is given, the Buyer’s purchase of the Certificates will constitute a reaffirmation of this certification by the undersigned as of the date of such purchase.

 

	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
	

 
 	

 
 	

Print Name of Buyer or Adviser 
 

 

	

 
 	

 
 	

 
 
	

  
 	

 
 	

By: 
 	

  
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

 
 	

Name:
 Title:
 

 

	

 
 	

 
 	

 
 	

IF AN ADVISER:
 
	

  
 	

 
 	

 
 	

  
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

 
 	

Print Name of Buyer
 

 

  	
        
        

      	
         

      	
        Date:

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      

J-2-7

EXHIBIT K

FORM OF TRANSFEROR CERTIFICATE

[date]

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06380

Attention: Corporate Trust, HarborView Mortgage Loan Trust 2006-9

Deutsche Bank National Trust Company

One Federal Street

Boston, MA 02110 

	

 
 	

Re:
 	
        HarborView
          Mortgage Loan Trust Mortgage Loan

          Pass-Through Certificates,
          Series 2006-9, Class R

      

Ladies and Gentlemen:

In connection with our proposed transfer of an Ownership Interest in the Class R Certificate, we hereby certify that (a) we have no knowledge that the proposed Transferee is not a Permitted Transferee acquiring an Ownership Interest in such Class R Certificate for its own account and not in a capacity as trustee, nominee, or agent for another Person, and (b) we have not undertaken the proposed transfer in whole or in part to impede the assessment or collection of tax.

 

  	
         

      	
         

      	
        Very
          truly yours,

      
	
         

      	
         

      	
         

      
	
         

      	
         

      	
        [_____________________]

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      

K-1

EXHIBIT L

TRANSFER AFFIDAVIT FOR RESIDUAL CERTIFICATE

PURSUANT TO SECTION 6.02(e)

HARBORVIEW MORTGAGE LOAN TRUST 

MORTGAGE LOAN PASS-THROUGH CERTIFICATES, SERIES 2006-9, 

CLASS R

 

	

STATE OF 
 	

)
 	

 
 
	

 
 	

)
 	

ss:
 
	

COUNTY OF
 	

)
 	

 
 

The undersigned, being first duly sworn, deposes and says as follows:

	

1.
 	

The undersigned is an officer of ______________________, the proposed Transferee of a 100% Ownership Interest in the Class R Certificate (the “Certificate”) issued pursuant to the Pooling and Servicing Agreement, (the “Agreement”) dated as of September 1, 2006, relating to the above-referenced Certificates, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee. Capitalized terms used, but not defined herein, shall have the meanings ascribed to such terms in the Agreement. The Transferee has authorized the undersigned to make this affidavit on behalf of the Transferee.
 

	

2.
 	

The Transferee is, as of the date hereof, and will be, as of the date of the Transfer, a Permitted Transferee. The Transferee is acquiring its Ownership Interest for its own account and not in a capacity as trustee, nominee or agent for another party.
 

	

3.
 	

The Transferee has been advised of, and understands that (i) a tax will be imposed on Transfers of the Certificate to Persons that are not Permitted Transferees; (ii) such tax will be imposed on the transferor, or, if such Transfer is through an agent (which includes a broker, nominee or middleman) for a Person that is not a Permitted Transferee, on the agent; and (iii) the Person otherwise liable for the tax shall be relieved of liability for the tax if the subsequent Transferee furnished to such Person an affidavit that such subsequent Transferee is a Permitted Transferee and, at the time of Transfer, such Person does not have actual knowledge that the affidavit is false. The Transferee has provided financial statements or other financial information requested by the Transferor in connection with the transfer of the Certificate to permit the
Transferor to assess the financial capability of the Transferee to pay such taxes.
 

	

4.
 	

The Transferee has been advised of, and understands that a tax may be imposed on a “pass-through entity” holding the Certificate if, at any time during the taxable year of the pass-through entity, a Disqualified Organization is the record holder of an interest in such entity. The Transferee understands that such tax will not be imposed for any period with respect to which the record holder furnishes to the pass-through entity an affidavit that such record holder is not a Disqualified Organization and the pass-through entity does not have actual knowledge that such affidavit is false. (For this purpose, a “pass-through entity” includes a regulated investment company, a real estate investment trust or common trust fund, a partnership, trust or estate, and certain cooperatives and, except as may be provided in Treasury Regulations,
persons holding interests in pass-through entities as a nominee for another Person.)
 

L-1

	

5.
 	

The Transferee has reviewed the provisions of Section 6.02(e) of the Agreement and understands the legal consequences of the acquisition of an Ownership Interest in the Certificate including, without limitation, the restrictions on subsequent Transfers and the provisions regarding voiding the Transfer and mandatory sales. The Transferee expressly agrees to be bound by and to abide by the provisions of Section 6.02(e) of the Agreement and the restrictions noted on the face of the Certificate. The Transferee understands and agrees that any breach of any of the representations included herein shall render the Transfer to the Transferee contemplated hereby null and void.
 

	

6.
 	

The Transferee agrees to require a Transfer Affidavit from any Person to whom the Transferee attempts to Transfer its Ownership Interest in the Certificate, and the Transferee will not Transfer its Ownership Interest or cause any Ownership Interest to be Transferred to any Person that the Transferee knows is not a Permitted Transferee. In connection with any such Transfer by the Transferee, the Transferee agrees to deliver to the Trustee a certificate substantially in the form set forth as Exhibit K to the Agreement (a “Transferor Certificate”).
 

	

7.
 	

The Transferee does not have the intention to impede the assessment or collection of any tax legally required to be paid with respect to the Certificate.
 

	

8.
 	

The Transferee’s taxpayer identification number is __________.
 

	

9.
 	

The Transferee is aware that the Certificate may be a “noneconomic residual interest” within the meaning of the REMIC provisions and that the transferor of a noneconomic residual interest will remain liable for any taxes due with respect to the income on such residual interest, unless no significant purpose of the transfer was to impede the assessment or collection of tax.
 

L-2

IN WITNESS WHEREOF, the Transferee has caused this instrument to be executed on its behalf, pursuant to authority of its Board of Directors, by its duly authorized officer and its corporate seal to be hereunto affixed, duly attested, this ______ day of ________________, 20__.

 

  	
         

      	
         

      	
        [NAME
          OF TRANSFEREE]

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Name:

          Title:

      

 

	

[Corporate Seal]
 	

 
 	

 
 	

 
 
	

 ATTEST:
 	

 
 	

 
 	

  
 
	

 
 	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
 	

 
 
	

        

      	

 
 	

 
 	

 
 
	

[Assistant] Secretary
 	

 
 	

 
 	

 
 

Personally appeared before me the above-named _________________, known or proved to me to be the same person who executed the foregoing instrument and to be the _____________ of the Transferee, and acknowledged that he executed the same as his free act and deed and the free act and deed of the Transferee.

Subscribed and sworn before me this _______ day of _________, 20__.

 

	

  
 	

 
 	

 
 	

  
 
	

 
 	

 
 	

 
 	

 
	

 
 	

 
 	

 
 	

NOTARY PUBLIC
 
	

 
 	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
 	

My Commission expires the ____ day of ______________, 20__.
 

L-3

EXHIBIT M

FORM OF BACK-UP CERTIFICATION

Greenwich Capital Acceptance, Inc.

600 Steamboat Road

Greenwich, Connecticut 06380

Attention: Corporate Trust, HarborView Mortgage Loan Trust 2006-9

Deutsche Bank National Trust Company

One Federal Street

Boston, MA 02110 

	

 
 	

Re:
 	
        HarborView
          Mortgage Loan Trust Mortgage Loan

          Pass-Through Certificates, Series 2006-9,

      

The Trustee 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 Trustee’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 Trustee under the Trust Agreement for inclusion in the Reports is included in the Reports;

(4) I am responsible for reviewing the activities performed by the Trustee under the Trust Agreement, and based on my knowledge and the compliance review conducted in preparing the assessment of compliance of the Trustee required by the Trust Agreement, and except as disclosed in the Reports, the Trustee has fulfilled its obligations under the Trust Agreement in all material respects; and

(5) The report on assessment of compliance with servicing criteria applicable to the Trustee for asset-backed securities of the Trustee and each Subcontractor utilized by the Trustee 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.

M-1

In giving the certifications above, the Trustee has reasonably relied on information provided to it by the following unaffiliated parties: [names of servicer(s), subservicer(s), depositor, custodian(s)]

 

	

 
 	

 
 	

 
 
	

Date:
 	

  
 	

 
 	

 
 	

  
 
	

 
 	

 	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
 	

 
 	

 
 
	

 
 	

 
 	

 
 	

 
 	

 
 
	

 	

 	

 
 	

 
 	

 
 
	

[Signature]
 [Title]
 	

 
 	

 
 	

 
 

M-2

EXHIBIT N

LIST OF SERVICERS AND SERVICING AGREEMENTS

	

1.
 	

The Master Mortgage Loan Purchase and Servicing Agreement dated as of April 1, 2003, as amended by that certain Amendment Number One dated November 1, 2004, and as further amended by that certain Amendment Reg AB dated December 1, 2005, between Greenwich Capital Financial Products, Inc. (“GCFP”), as purchaser, and Countrywide Home Loans, Inc. (“CHL”), as seller, as reconstituted by the Reconstitution Agreement dated as of September 1, 2006 by and among GCFP, Greenwich Capital Acceptance, Inc., as depositor, CHL, Countrywide, Home Loans Servicing, LP, as servicer, and is acknowledged by Deutsche Bank National Trust Company, as trustee, as the same may be amended from time to time, and any assignments and conveyances related to the Mortgage Loans.
 

N-1

EXHIBIT O

TRANSACTION PARTIES

 

	

Certificate Insurer
 	

 
 	

Ambac Assurance Corporation
 
	

Custodian
 	

 
 	

The Bank of New York
 
	

Depositor
 	

 
 	

Greenwich Capital Acceptance, Inc.
 
	

Originator
 	

 
 	

Countrywide Home Loans, Inc.
 
	

Servicer
 	

 
 	

Countrywide Home Loans Servicing LP
 
	

Sponsor and Seller
 	

 
 	

Greenwich Capital Financial Products, Inc.
 
	

        Trustee

      	

 
 	

Deutsche Bank National Trust Company
 
	

Yield Maintenance Provider
 	

 
 	

The Bank of New York
 

O-1

EXHIBIT P 

FORM OF TRUSTEE CERTIFICATE

  	
         

      	
        Re:

      	
        HarborView
          Mortgage Loan Trust (the “Trust”)

          Mortgage Loan Pass-Through
          Certificates, Series 2006-9

      

 

I, [identify the certifying individual], a [title] of Deutsche Bank National Trust Company, as Trustee of the Trust, hereby certify to Greenwich Capital Acceptance, Inc. (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 [___], and all reports on Form 10-D required to be filed in respect of the period covered by such Form 10-K of the Depositor relating to the above-referenced trust (the “Exchange Act periodic reports”);

2. Based on my knowledge, the information prepared by the Trustee, contained, in these distribution 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 this report; and

3. Based on my knowledge, the distribution information required to be provided by the Trustee under the Pooling Agreement is included in these reports.

Capitalized terms used but not defined herein have the meanings ascribed to them in the Pooling Agreement, dated September 1, 2006 (the “Pooling Agreement”) among the Depositor, Greenwich Capital Financial Products, Inc., as the seller (the “Seller”) and the Trustee, as trustee.

 

  	
         

      	
         

      	
        Deutsche
          Bank National Trust Company,

          as Trustee

      
	 	 	 	 
	
        
        

      	
         

      	
        By: 

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
        [Name]

          [Title]

          [Date]

      

P-1

EXHIBIT
  Q

SERVICING CRITERIA

The assessment of compliance to be delivered by Deutsche Bank National Trust Company (“Deutsche Bank”), in its capacities as Trustee, shall address, at a minimum, the criteria identified as below as “Applicable Servicing Criteria:”

 

  	
        Servicing
          Criteria

      	
        Applicable

          Servicing

          Criteria for

          Deutsche Bank

      
	
        
        

      	
        
        

      
	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

	
         

      	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

Q-1

 

  	
        Servicing
          Criteria

      	
        Applicable

          Servicing

          Criteria for

          Deutsche Bank

      
	
        
        

      	
        
        

      
	
        Reference

      	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

Q-2

 

  	
        Servicing
          Criteria

      	
        Applicable

          Servicing

          Criteria for

          Deutsche Bank

      
	
        
        

      	
        
        

      
	
        Reference

      	
        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.

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(vii)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(viii)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(ix)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(x)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(xi)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(xii)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(xiii)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(xiv)

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

      	
         

      
	
        
      
	
         

      	
        
      

	
        1122(d)(4)(xv)

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

      	
        X

         

      
	
        
      
	
        
      
	
        
      

Q-3

EXHIBIT R

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 Trustee pursuant to Section 3.07. If the Trustee is indicated below as to any item, then the Trustee is primarily responsible for obtaining that information.

Under Item 1 of Form 10-D: a) items marked “5.04 statement” are required to be included in the periodic Distribution Date statement under Section 5.04, provided by the Trustee, based upon information provided by the responsible party; and b) items marked “Form 10-D report” are required to be in the Form 10-D report but not the 5.04 statement, provided by the party indicated. Information under all other Items of Form 10-D is to be included in the Form 10-D report.

 

  	
        Form

      	
        Item

      	
        Description

      	
        Responsible
          Party

      
	
        10-D

      	
        Must
          be filed within 15 days of the Distribution Date.

      
	
        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.

      	
        5.04
          statement

      
	
        (2)
          Cash flows received and the sources thereof for distributions, fees
          and expenses.

      	
        5.04
          statement

      
	
        (3)
          Calculated amounts and distribution of the flow of funds for the period
          itemized by type and priority of payment, including:

      	
        5.04
          statement

      
	
        (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

      	
        5.04
          statement

      
	
        (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.

      	
        5.04
          statement

      
					

R-1

 

  	
         

      	
         

      	
        (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.

      	
        5.04
          statement

      
	
        (iv)
          The amount of excess cash flow or excess spread and the disposition
          of excess cash flow.

      	
        5.04
          statement

      
	
        (4)
          Beginning and ending principal balances of the asset-backed securities.

      	
        5.04
          statement

      
	
        (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.

      	
        5.04
          statement

      
	
        (6)
          Beginning and ending balances of transaction accounts, such as reserve
          accounts, and material account activity during the period.

      	
        5.04
          statement

      
	
        (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.

      	
        5.04
          statement

      
	
        (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 life, weighted average remaining term, pool
          factors and prepayment amounts.

      	
        5.04
          statement

          

          Updated pool composition information fields to be as specified by Depositor
          from time to time.

      
	
        (9)
          Delinquency and loss information for the period.

        

          In addition, describe any material changes
          to the information specified in Item 1100(b)(5) of Regulation AB regarding
          the pool assets.

      	
        5.04
          statement

        

          Form 10-D report:

          Depositor

      

R-2

 

  	
         

      	
         

      	
        (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.

      	
        5.04
          statement

      
	
        (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.

      	
        Form
          10-D report:

          Servicer

      
	
        (12)
          Material breaches of pool asset representations or warranties or transaction
          covenants.

      	
        Form
          10-D report:

          Servicer

      
	
        (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.

      	
        5.04
          statement

      
	
        (14)
          Information regarding any new issuance of asset-backed securities backed
          by the same asset

          pool,

 [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. 

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.

        

      	
        Form
          10-D report:

          Depositor

          

Form 10-D report:

          Depositor

          

          

          Form 10-D report:

          Depositor

           

           
      
	
        Item
          1121(b) – Pre-Funding or Revolving Period Information

          Updated pool information as required under
          Item 1121(b).

      	
        Depositor

      

R-3

 

  	
         

      	
        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:

          Seller

          Depositor

          Trustee

          Issuing entity

          Servicer

          Master Servicer

          Originator

          Custodian

      	
        

          

          Seller

          Depositor

          Trustee

          Depositor

          Servicer

          Master Servicer

          Originator

          Custodian

      
	
        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.

      	
        
          

          

          
Depositor

      
	
        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)

      	
        
          

          

N/A

      
	
        5

      	
        Submission
          of Matters to a Vote of Security Holders

      	
         

      
	
        Information
          from Item 4 of Part II of Form 10-Q

      	
        Trustee

      
	
        6

      	
        Significant
          Obligors of Pool Assets

      	
         

      
	
        Item
          1112(b) – Significant Obligor Financial Information*

      	
        N/A

      
	
        *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.

      	
         

      

R-4

 

  	
         

      	
        7

      	
        Significant
          Enhancement Provider Information

      	
         

      
	
        Item
          1114(b)(2) – Credit Enhancement Provider Financial Information*

          Determining applicable disclosure threshold

          Obtaining required financial information
          or effecting incorporation by reference

      	
        

          N/A

          N/A

      
	
        Item
          1115(b) – Derivative Counterparty Financial Information*

          Determining current maximum probable exposure

          Determining current significance percentage

          Obtaining required financial information
          or effecting incorporation by reference

      	
        

          N/A

          N/A

          Depositor

      
	
        *This
          information need only be reported on the Form 10-D for the distribution
          period in which updated information is required pursuant to the Items.

      	
         

      
	
        8

      	
        Other
          Information

      	
         

      
	
        Disclose
          any information required to be reported on Form 8-K during the period
          covered by the Form 10-D but not reported

      	
        The
          Responsible Party for the applicable Form 8-K item as indicated below

      
	
        9

      	
        Exhibits

      	
         

      
	
        Distribution
          report

      	
        Trustee

      
	
        Exhibits
          required by Item 601 of Regulation S-K, such as material agreements

      	
        Depositor

      
	
        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 a to definite
          agreements that are fully disclosed in the prospectus.

      	
        Depositor

      

R-5

 

  	
         

      	
        1.02

      	
        Termination
          of a Material Definitive Agreement

      	
         

      
	
        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.

      	
        Depositor
          

      
	
        1.03

      	
        Bankruptcy
          or Receivership

      	
         

      
	
        Disclosure
          is required regarding the bankruptcy or receivership, if known to the
          Depositor, Servicer or Trustee, with respect to any of the following:

          Sponsor (Seller), Depositor, Servicer,
          Trustee, Swap Provider, Cap Provider, Custodian

      	
        Depositor/Servicer/Trustee

      
	
        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 5.04 statement.

      	
        N/A

      
	
        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

      	
        Party
          requesting material modification

      
	
        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”

      	
        Depositor

      

R-6

 

  	
         

      	
        5.06

      	
        Change
          in Shell Company Status

      	
         

      
	
        [Not
          applicable to ABS Issuers]

      	
        Depositor

      
	
        6.01

      	
        ABS
          Informational and Computational Material

      	
         

      
	
        [Not
          included in reports to be filed under Section 4.07]

      	
        Depositor

      
	
        6.02

      	
        Change
          of Master 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. Reg AB disclosure about any new
          servicer or trustee is also required.

      	
        Trustee
          or Master Servicer

      
	
        6.03

      	
        Change
          in Credit Enhancement or Other External 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.
          Reg AB disclosure about any new enhancement provider is also required.

      	
        Depositor

      
	
        6.04

      	
        Failure
          to Make a Required Distribution

      	
        Trustee

      
	
        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.

      	
        Depositor

      
	
        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.

      	
        Depositor

      

R-7

 

  	
         

      	
        7.01

      	
        Regulation
          FD Disclosure

      	
        Depositor

      
	
        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.

      	
        Depositor

      
	
        9.01

      	
        Financial
          Statements and Exhibits

      	
        The
          Responsible Party applicable to reportable event

      
	
        10-K

      	
        Must
          be filed within 90 days of the fiscal year end for the registrant.

      
	
        9B

      	
        Other
          Information

      	
         

      
	
        Disclose
          any information required to be reported on Form 8-K during the fourth
          quarter covered by the Form 10-K but not reported

      	
        The
          Responsible Party for the applicable Form 8-K item as indicated above

      
	
        15

      	
        Exhibits
          and Financial Statement Schedules

      	
         

      
	
        Item
          1112(b) – Significant Obligor Financial Information

      	
        N/A

      
	
        Item
          1114(b)(2) – Credit Enhancement Provider Financial Information

          Determining applicable disclosure threshold

          Obtaining required financial information
          or effecting incorporating by reference

      	
        

          N/A

          N/A

      
	
        Item
          1115(b) – Derivative Counterparty Financial Information

          Determining current maximum probable exposure

          Determining current significance percentage

          Obtaining required financial information
          or effecting incorporation by reference

      	
        

          N/A

          N/A

          Depositor

      
	
        Seller

          Depositor

          Trustee

          Issuing entity

          Servicer

          Master Servicer

          Originator

          Custodian

      	
        Seller

          Depositor

          Trustee

          Issuing entity

          Servicer

          Master Servicer

          Originator

          Custodian

      

R-8

 

  	
         

      	
         

      	
        Item
          1119 – Affiliations and relationships between the following entities,
          or their respective affiliates, that are material to Certificateholders:

          Seller

          Depositor

          Trustee

          

          

          Issuing entity

          Master Servicer

          Originator

          Custodian

          Credit Enhancer/Support Provider, if any
          

          Significant Obligor, if any

      	
        

          

          Seller

          Depositor

          Trustee (only with respect to affiliations
          and relationships with the sponsor, depositor or issuing entity)

          Issuing entity

          Master Servicer

          Originator

          Custodian

          Depositor

          Depositor

      
	
        Item
          1122 – Assessment of Compliance with Servicing Criteria

      	
        Each
          Party participating in the servicing function

      
	
        Item
          1123 – Servicer Compliance Statement

      	
        Master
          Servicer

      

R-9

EXHIBIT S

[RESERVED]

S-1

EXHIBIT T

[RESERVED]

T-1

EXHIBIT U

ADDITIONAL DISCLOSURE NOTIFICATION

Deutsche Bank National Trust Company

1761 East St. Andrew Place

Santa Ana, California 92705

Attention: GC0609, HarborView Mortgage Loan Trust 2006-9

Fax: (714) 656-2626

E-mail: DBSEC.Notification@DB.com

Attn:  Corporate Trust Services – HARBORVIEW MORTGAGE LOAN TRUST 2006-9-SEC REPORT PROCESSING

RE: **Additional Form [____] Disclosure**Required

Ladies and Gentlemen:

In accordance with Section 3.04, 3.05, 3.06, 3.07, 3.08 and 3.09 of the Pooling and Servicing Agreement dated as of September 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee, the undersigned, as [____], 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:

      

U-1

EXHIBIT V

YIELD MAINTENANCE ALLOCATION AGREEMENT

 

V-1

EXECUTION

YIELD MAINTENANCE ALLOCATION AGREEMENT

This Yield Maintenance Allocation Agreement, dated as of October 4, 2006 (this “Agreement”), among Deutsche Bank National Trust Company (“Deutsche Bank”), not in its individual capacity, but solely in its capacity as administrator for the yield maintenance trust (in such capacity, the “Administrator”) and as trustee under the Pooling and Servicing Agreement, as hereinafter defined (in such capacity, the “Trustee”) and Greenwich Capital Financial Products, Inc. (“GCFP”).

WHEREAS, the Administrator, on behalf of a separate trust established hereunder will enter into the Yield Maintenance Agreement dated as of October 4, 2006 (the “Yield Maintenance Agreement”), a copy of which is attached hereto as Exhibit A, between the Administrator and The Bank of New York (the “Yield Maintenance Provider”), the counterparty to the Yield Maintenance Agreement; and

WHEREAS, it is desirable to appoint the Administrator, and the Administrator desires to accept such appointment, to receive and distribute funds payable by the Yield Maintenance Provider to the Administrator under the Yield Maintenance Agreement as provided herein; 

NOW, THEREFORE, in consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 

1. Definitions. Capitalized terms used but not otherwise defined herein shall have the respective meanings assigned thereto in the Pooling and Servicing Agreement dated as of September 1, 2006 (the “Pooling and Servicing Agreement”), among Greenwich Capital Assurance, Inc., as depositor, GCFP and the Trustee relating to the HarborView Mortgage  Loan Trust (the “Trust”) Mortgage Loan Pass-Through Certificates, Series 2006-9 (the “Certificates”), or in the related Indenture as the case may be, as in effect on the date hereof. 

2.
  Yield Maintenance Trust.
  There is hereby established a separate
  trust (the “Yield Maintenance Trust”), into which the Administrator
  shall deposit the Yield Maintenance Agreement. The Yield Maintenance Trust shall
  be maintained by the Administrator. The sole assets of the Yield Maintenance
  Trust shall be the Yield Maintenance Agreement and the Yield Maintenance Trust
  Account (each as hereinafter defined).

3.
  Administrator.
  

(a) The Administrator is hereby authorized and directed to execute the Yield Maintenance Agreement and is appointed to receive all funds paid to the Administrator by the Yield Maintenance Provider or its successors in interest under the Yield Maintenance Agreement (including any termination payments under the Yield Maintenance Agreement) and the Administrator accepts such appointment and hereby agrees to receive such amounts, deposit such amounts into the Yield Maintenance Trust Account, and to distribute on each Distribution Date such amounts in the following order of priority:

 

	

 
 	

(i)
 	

first, for deposit into the Yield Maintenance Account (established under the Pooling and Servicing Agreement), an amount equal to the sum of the following amounts remaining outstanding after distribution of the Net Monthly Excess Cashflow: (A) an amount necessary to maintain or restore the Overcollateralization Target Amount for the related Distribution Date; (B) any Allocated Realized Loss Amounts remaining unpaid; (C) any Unpaid Interest Shortfall Amounts; and (D) any Basis Risk Shortfalls; 
 

	

 
 	

(ii)
 	

second, to GCFP (as majority holder of the Class C Certificates) or its designee, any amounts remaining after payment of clause (i) above, provided, however, that upon the issuance of notes by an issuer (the “Issuer”), secured by all or a portion of the Class C Certificates and the Class P Certificates (the “NIM Notes”), GCFP, as majority holder of the Class C Certificates, or its designee, hereby instructs the Administrator to make any payments under this clause 3(a)(ii):
 

(A) to the Indenture Trustee for the Issuer, for deposit into the Note Account (each as defined in the related Indenture), for distribution in accordance with the terms of the Indenture until satisfaction and discharge of the Indenture; and

(B) after satisfaction and discharge of the Indenture, to the Holders of the Class C Certificates, pro rata based on the outstanding Notional Amount of each such Certificate.

(b) The Administrator agrees to hold any amounts received from the Yield Maintenance Provider in trust upon the terms and conditions and for the exclusive use and benefit of the Trustee and the Indenture Trustee, as applicable (in turn for the benefit of the Certificateholders, the Noteholders, GCFP and the NIMS Insurer, if any) as set forth herein. The rights, duties and liabilities of the Administrator in respect of this Agreement shall be as follows:

(i) The Administrator shall have the full power and authority to do all things not inconsistent with the provisions of this Agreement that may be deemed advisable in order to enforce the provisions hereof. The Administrator shall not be answerable or accountable except for its own bad faith, willful misconduct or negligence. The Administrator shall not be required to take any action to exercise or enforce any of its rights or powers hereunder which, in the opinion of the Administrator, shall be likely to involve expense or liability to the Administrator, unless the Administrator shall have received an agreement satisfactory to it in its sole discretion to indemnify it against such liability and expense.

(ii) The Administrator shall not be liable with respect to any action taken or omitted to be taken by it in good faith in accordance with the direction of any party hereto or the NIMS Insurer, if any, or otherwise as provided herein, relating to the time, method and place of conducting any proceeding for any remedy available to the Administrator or exercising any right or power conferred upon the Administrator under this Agreement.

2

 

(iii) The Administrator may perform any duties hereunder either directly or by or through agents or attorneys of the Administrator. The Administrator shall not be liable for the acts or omissions of its agents or attorneys so long as the Administrator chose such Persons with due care.

4.
  Yield Maintenance Trust Account.
  

The Administrator shall segregate and hold all funds received from the Yield Maintenance Provider under the Yield Maintenance Agreement (including any termination payments) separate and apart from any of its own funds and general assets and shall establish and maintain in the name of the Administrator one or more segregated accounts (the “Yield Maintenance Trust Account”). The Yield Maintenance Trust Account shall be an Eligible Account, and funds on deposit therein shall be held separate and apart from, and shall not be commingled with, any other moneys of the Administrator. Amounts on deposit in the Yield Maintenance Trust Account shall not be invested and shall not be held in an interest-bearing account. 

5.
  Replacement Yield Maintenance Agreement.
  

The Administrator shall, at the direction of the NIMS Insurer, if any, or, with the consent of the NIMS Insurer, if any, at the direction of GCFP (as majority holder of the Class C Certificates) or its designee, enforce all of its rights and exercise any remedies under the Yield Maintenance Agreement. In the event the Yield Maintenance Agreement is terminated as a result of the designation by either party thereto of an Early Termination Date (as defined therein), GCFP (as majority holder of the Class C Certificates) or its designee, shall find a replacement counterparty to enter into a replacement Yield Maintenance Agreement.

Any termination payment under the Yield Maintenance Agreement received by the Administrator from the Yield Maintenance Provider shall be deposited into a separate, non-interest bearing account, established by the Administrator and shall be used to make any upfront payment required under a replacement Yield Maintenance Agreement.

Notwithstanding anything contained herein, in the event that a replacement Yield Maintenance Agreement cannot be obtained within 30 days after receipt by the Administrator of a termination payment paid by the terminated Yield Maintenance Provider, the Administrator shall deposit such termination payment into a separate, non-interest bearing account, established by the Administrator and the Administrator shall, on each Distribution Date, withdraw from such account, an amount equal to the Yield Maintenance Agreement Payment, if any, that would have been paid to the Trust by the original Yield Maintenance Provider (computed in accordance with Exhibit A) and distribute such amount in accordance with Section 3(a) of this Agreement. On the Distribution Date immediately after the termination date of the original Yield Maintenance Agreement, the Administrator shall withdraw any funds
remaining in such account and distribute such amount in accordance with Section 3(a)(ii) of this Agreement.

3

 

6.
  Representations and Warranties of Deutsche
  Bank. Deutsche Bank represents and warrants as follows:

(a) Deutsche Bank is duly organized and validly existing as a national trust company under the laws of the United States and has all requisite power and authority to execute and deliver this Agreement, to perform its obligations as Administrator hereunder.

(b) The execution, delivery and performance of this Agreement by Deutsche Bank as Trustee have been duly authorized in the Pooling and Servicing Agreement.

(c) This Agreement has been duly executed and delivered by Deutsche Bank as Administrator and the Trustee and is enforceable against Deutsche Bank in such capacities in accordance with its terms, except as enforceability may be affected by bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally, general equitable principles (whether considered in a proceeding in equity or at law).

7.
  Replacement of Administrator.

Any corporation, bank, trust company or association into which the Administrator may be merged or converted or with which it may be consolidated, or any corporation, bank, trust company or association resulting from any merger, conversion or consolidation to which the Administrator shall be a party, or any corporation, bank, trust company or association succeeding to all or substantially all the corporate trust business of the Administrator, shall be the successor of the Administrator hereunder, without the execution or filing of any paper or any further act on the part of any of the parties hereto, except to the extent that assumption of its duties and obligations, as such, is not effected by operation of law.

No resignation or removal of the Administrator and no appointment of a successor Administrator shall become effective until the appointment by GCFP, as majority holder of the Class C Certificates, or its designee, of a successor Administrator acceptable to the NIMS Insurer, if any. Any successor Administrator shall execute such documents or instruments necessary or appropriate to vest in and confirm to such successor Administrator all such rights and powers conferred by this Agreement.

The Administrator may resign at any time by giving written notice thereof to the other parties hereto with a copy to the NIMS Insurer, if any. If a successor Administrator shall not have accepted the appointment hereunder within 30 days after the giving by the resigning Administrator of such notice of resignation, the resigning Administrator may petition any court of competent jurisdiction for the appointment of a successor Administrator acceptable to the NIMS Insurer, if any.

In the event of a resignation or removal of the Administrator, GCFP, as majority holder of the Class C Certificates, or its designee shall promptly appoint a successor Administrator acceptable to the NIMS Insurer, if any. If no such appointment has been made within 10 days of the resignation or removal, the NIMS Insurer, if any, may appoint a successor Administrator.

4

 

8.
  Administrator Obligations.

Whenever the Administrator, as a party to the Yield Maintenance Agreement, has the option or is requested in such capacity, whether such request is by the Yield Maintenance Provider, to take any action or to give any consent, approval or waiver that it is on behalf of the Yield Maintenance Trust entitled to take or give in such capacity (including, without limitation, in connection with an amendment of such agreement or the occurrence of a default or termination event thereunder), the Administrator shall promptly notify the parties hereto and the NIMS Insurer, if any, of such request in such detail as is available to it and shall, on behalf of the parties hereto and the NIMS Insurer, if any, take such action in connection with the exercise and/or enforcement of any rights and/or remedies available to it in such capacity with respect to such request as GCFP, as majority holder
of the Class C Certificates, or its designee, or the NIMS Insurer, if any, shall direct in writing; provided that if no such direction is received prior to the date that is established for taking such action or giving such consent, approval or waiver (notice of which date shall be given by the Administrator to the parties hereto and the NIMS Insurer, if any), the Administrator may abstain from taking such action or giving such consent, approval or waiver.

The Administrator shall forward to the parties hereto and the NIMS Insurer, if any, on the Distribution Date following its receipt thereof copies of any and all written notices, statements, reports and/or other material communications and information (collectively, the “Yield Maintenance Agreement Reports”) that it receives in connection with the Yield Maintenance Agreement or from the Yield Maintenance Provider. The Administrator shall have no information or other tax reporting obligations with respect to the Yield Maintenance Trust or the Yield Maintenance Trust Account.

9. Miscellaneous.

(a) 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.

(b) Any action or proceeding against any of the parties hereto relating in any way to this Agreement may be brought and enforced in the courts of the State of New York sitting in the borough of Manhattan or of the United States District Court for the Southern District of New York and the Administrator irrevocably submits to the jurisdiction of each such court in respect of any such action or proceeding. The Administrator waives, to the fullest extent permitted by law, any right to remove any such action or proceeding by reason of improper venue or inconvenient forum.

(c) This Agreement may be amended, supplemented or modified in writing by the parties hereto, but only with the consent of GCFP and the NIMS Insurer, if any.

(d)
  This Agreement may not be assigned or transferred without the prior written
  consent of GCFP and the NIMS Insurer, if any; provided, however,
  the parties hereto acknowledge and agree to the assignment of the rights of
  GCFP (as majority holder of the Class C Certificates) or its designee, pursuant
  to the Sale Agreement, the Trust Agreement and the Indenture.

5

 

(e) This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts (including by facsimile transmission), and all such counterparts taken together shall be deemed to constitute one and the same instrument.

(f) Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

(g) The representations and warranties made by the parties to this Agreement shall survive the execution and delivery of this Agreement. No act or omission on the part of any party hereto shall constitute a waiver of any such representation or warranty.

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

(i) The representations and warranties made by the parties to this Agreement shall survive the execution and delivery of this Agreement. No act or omission on the part of any party hereto shall constitute a waiver of any such representation or warranty.

10.
  Third-Party Beneficiary.
  Each of the Trustee, GCFP (as majority holder of the Class C Certificates) or
  its designee and the Indenture Trustee, if any, shall be deemed a third-party
  beneficiary of this Agreement to the same extent as if it were a party hereto,
  and shall have the right to enforce the provisions of this Agreement. If any
  default occurs on the part of the Yield Maintenance Provider under the Yield
  Maintenance Agreement in the making of a payment due under the Yield Maintenance
  Agreement or in any other obligation of the Yield Maintenance Provider under
  the Yield Maintenance Agreement, the Administrator may and, upon the request
  of the Trustee, GCFP (as majority holder of the Class C Certificates) or its
  designee or the Indenture Trustee, shall take such action as may be appropriate
  to enforce such payment or performance, including the institution and prosecution
  of appropriate proceedings.

11.
  Administrator and Trustee Rights.
  In connection with its execution and delivery of this Agreement and the Yield
  Maintenance Agreement and its performance of its duties and obligations hereunder
  and thereunder, the Administrator shall be entitled to the same rights, protections
  and indemnities afforded to the Trustee under the Pooling and Servicing Agreement,
  and the Indenture Trustee under the Indenture, in each case as if specifically
  set forth herein with respect to the Administrator.

In connection with its execution and delivery of this Agreement and its performance of its duties and obligations hereunder, the Trustee shall be entitled to the same rights, protections and indemnities afforded to the Trustee under the Pooling and Servicing Agreement as if specifically set forth herein with respect to the Administrator.

6

12. Limited Recourse. It is expressly understood and agreed by the parties hereto that this Agreement is executed and delivered by the Trustee, not in its individual capacity but solely as Trustee under the Pooling and Servicing Agreement. Notwithstanding any other provisions of this Agreement, the obligations of the Trustee under this Agreement are non-recourse to the Trustee, its assets and its property, and shall be payable solely from the assets of the Trust Fund, and following realization of such assets, any claims of any party hereto shall be extinguished and shall not thereafter be reinstated. No recourse shall be had against any principal, director, officer, employee, beneficiary, shareholder, partner, member, Trustee, agent or affiliate of the Trustee or any person owning, directly or indirectly, any legal or ben

eficial interest in the Trustee, or any successors or assigns of any of the foregoing (the “Exculpated Parties”) for the payment of any amount payable under this Agreement. The parties hereto shall not enforce the liability and obligations of the Trustee to perform and observe the obligations contained in this Agreement by any action or
proceeding wherein a money judgment establishing any personal liability shall be sought against the Trustee, subject to the following sentence, or the Exculpated Parties. The agreements in this paragraph shall survive termination of this Agreement and the performance of all obligations hereunder.

 

7

EXECUTION

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered as of the day and year first above written. 

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST

          COMPANY

      
	
         

      	
         

      	
        not
          in its individual capacity but solely as

          Administrator under this Agreement

      
	 	 	 	 
	
        
        

      	
         

      	
        By:
          

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Name:

      	
         

      
	
         

      	
         

      	
         

      	
        Title:

      	
         

      

 

  	
          
 	
         
 	
        By: 
 	

  
 
	
         
 	
         
 	
         
 	

 
	
         
 	
         
 	
         
 	
        Name:
 	
         
 
	

 
 	

 
 	

 
 	

Title:
 	
         
 

 

  	
         

      	
         

      	
        DEUTSCHE
          BANK NATIONAL TRUST

          COMPANY

      
	
         

      	
         

      	
        not
          in its individual capacity but solely as Trustee under the Pooling and
          Servicing Agreement

      
	 	 	 	 
	
        
        

      	
         

      	
        By:
          

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Name:

      	
         

      
	
         

      	
         

      	
         

      	
        Title:

      	
         

      

 

  	
          
 	
         
 	
        By: 
 	

  
 
	
         
 	
         
 	
         
 	

 
	
         
 	
         
 	
         
 	
        Name:
 	
         
 
	

 
 	

 
 	

 
 	

Title:
 	

 
 

 

  	
         

      	
         

      	
        GREENWICH
          CAPITAL FINANCIAL PRODUCTS, INC., as majority holder of the Class C
          Certificates

      
	 	 	 
	
        
        

      	
         

      	
        By:
          

      	
        
        

      
	
         

      	
         

      	
         

      	
        
        

      
	
         

      	
         

      	
         

      	
        Name:

      	
         

      
	
         

      	
         

      	
         

      	
        Title:

      	
         

      

 

EXHIBIT A

YIELD MAINTENANCE AGREEMENT

SEE EXHIBIT W TO THE POOLING AND SERVICING AGREEMENT

 

EXHIBIT W

YIELD MAINTENANCE AGREEMENT

W-1

 

Page 1 of 20

 

 

   
  

Dated:
  October 2, 2006

Rate Cap Transaction

Re:
  BNY Reference No. 38408

Ladies and Gentlemen:

The purpose of this letter agreement (“Agreement”) is to confirm the terms and conditions of the rate Cap Transaction entered into on the Trade Date specified below (the “Transaction”) between The Bank of New York (“BNY”), a trust company duly organized and existing under the laws of the State of New York, and Deutsche Bank National Trust Company (“Deutsche Bank”), not in its individual capacity, but solely as administrator (in such capacity, the “Administrator”) under the Yield Maintenance Allocation Agreement, dated as of October 4, 2006 (the “Yield Maintenance Allocation
Agreement”), among the Administrator, Greenwich Capital Financial Products, Inc. (“GCFP”) and Deutsche Bank, not in its individual capacity, but solely as trustee (in such capacity, the “Trustee”) under the Pooling and Servicing Agreement dated as of September 1, 2006 among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”), GCFP, as seller (the “Seller”) and the Trustee (the “Pooling and Servicing Agreement”). The trust established under the Yield Maintenance Allocation Agreement (the “Yield Maintenance Trust”) is referred to herein as the “Counterparty”. This Agreement, which evidences a complete and binding agreement between you and us to enter into the Transaction on the terms set forth below, constitutes a “Confirmation” as referred to in the “ISDA Form Master Agreement” (as defined below), as well as a “Schedule” as referred to in the ISDA Form Master Agreement.

1.         Form
  of Agreement. This Agreement is subject
  to the 2000 ISDA Definitions (the
  “Definitions”),
  as published by the International Swaps and Derivatives Association, Inc. (“ISDA”).
  You and we have agreed to enter into this Agreement in lieu of negotiating a
  Schedule to the 1992 ISDA Master Agreement (Multicurrency—Cross Border)
  form (the “ISDA Form Master
  Agreement”). An ISDA Form
  Master Agreement, as modified by the Schedule terms in Paragraph 4 of this Confirmation
  (the “Master Agreement”),
  shall be deemed to have been executed by you and us on the date we entered into
  the Transaction. Except as otherwise specified, references herein to Sections
  shall be to Sections of the ISDA Form Master Agreement and the Master Agreement,
  and references to Paragraphs shall be to paragraphs of this Agreement. In the
  event of any inconsistency between the provisions of this Agreement and the
  Definitions or the ISDA Form Master Agreement, this Agreement shall prevail
  for purposes of the Transaction. Capitalized terms not otherwise defined herein
  or in the Definitions or the Master Agreement shall have the meaning defined
  for such term in the Yield Maintenance Allocation Agreement or the Pooling and
  Servicing Agreement.

Ref No. 38408

 

Page
  2 of 20

 

 

  	
        2.

      	
        Certain
          Terms. The terms of the particular
          Transaction to which this Confirmation relates are as follows:

      
	 	 	 
	
         

      	
        Type
          of Transaction:

      	
        Rate
          Cap

      
	 	 	 
	
         

      	
        Notional
          Amount:

      	
        With
          respect to any Calculation Period the amount set forth for such period
          on Schedule I attached hereto.

      
	 	 	 
	
         

      	
        Trade
          Date:

      	
        October
          2, 2006

      
	 	 	 
	
         

      	
        Effective
          Date:

      	
        April
          19, 2010

      
	 	 	 
	
         

      	
        Termination
          Date:

      	
        July
          19, 2014, subject to adjustment in accordance with the Following Business
          Day Convention.

      
	
         

      	
         

      	
         

      
	
        FIXED
          AMOUNTS

      	
         

      
	 	 	 
	
         

      	
        Fixed
          Amount Payer:

      	
        Counterparty
          represents and warrants that it has directed GCFP to make payment of
          the Fixed Amount on its behalf.

      
	 	 	 
	
         

      	
        Fixed
          Amount:

      	
        [                 ] 

      
	 	 	 
	
         

      	
        Fixed
          Amount Payer

          Payment Date:

      	
        

          October 4, 2006

      
	
         

      	
         

      	
         

      
	
        FLOATING
          AMOUNTS

      	
         

      
	 	 	 
	
         

      	
        Floating
          Rate Payer:

      	
        BNY

      
	 	 	 
	
         

      	
        Cap
          Rate:

      	
        For
          each Calculation Period, as set forth for such period on Schedule I
          attached hereto.

      
	 	 	 
	
         

      	
        Ceiling
          Rate:

      	
        For
          each Calculation Period, as set forth for such period on Schedule I
          attached hereto.

      
	 	 	 
	
         

      	
        Floating
          Rate for initial

          Calculation Period:

      	
        

          To be determined

      
	 	 	 
	
         

      	
        Floating
          Rate Day Count

          Fraction:

      	
        

          Actual/360

      
	 	 	 
	
         

      	
        Floating
          Rate Option:

      	
        USD-LIBOR-BBA,
          provided, however, if the Floating Rate Option for a Calculation Period
          is greater than Ceiling Rate then the Floating Rate Option for such
          Calculation Period shall be deemed equal to Ceiling Rate.

      
	 	 	 
	
         

      	
        Designated
          Maturity:

      	
        One
          month

      
	 	 	 
	
         

      	
        Spread:

      	
        Inapplicable

      
	 	 	 
	
         

      	
        Floating
          Rate Payer

          Period End Dates:

      	
        

          The 19th day of each month,
          beginning on May 19, 2010 and ending on the Termination Date, subject
          to adjustment in accordance with the Following Business Day Convention.

      
	 	 	 
	
         

      	
        Floating
          Rate Payer

          Payment Dates:

      	
        

          Early Payment shall be applicable. The
          Floating Rate Payer Payment Date shall be one (1) Business Day preceding
          each Floating Rate Payer Period End Date.

      
	 	 	 
	
         

      	
        Reset
          Dates: 

      	
        The
          first day of each Calculation Period or Compounding Period, if Compounding
          is applicable.

      
	 	 	 
	
         

      	
        Compounding:

      	
        Inapplicable

      
	 	 	 
	
         

      	
        Business
          Days for Payments

          By both parties:

      	
        

          New York

      
	 	 	 
	
         

      	
        Calculation
          Agent:

      	
        BNY

      

Ref No. 38408

 

Page
  3 of 20

 

	

        3.

      	

Additional Provisions:
 

1) Reliance. Each party hereto is hereby advised and acknowledges that the other party has engaged in (or refrained from engaging in) substantial financial transactions and has taken (or refrained from taking) other material actions in reliance upon the entry by the parties into the Transaction being entered into on the terms and conditions set forth herein. 

2) Transfer, Amendment and Assignment. No transfer, amendment, waiver, supplement, assignment or other modification of this Transaction shall be permitted by either party unless each of Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), has been provided notice of the same and confirms in writing (including by facsimile transmission) that it will not downgrade, qualify, withdraw or otherwise modify its then-current ratings on the Certificates issued under
the Pooling and Servicing Agreement (the “Certificates”).

	

4.
 	

Provisions Deemed Incorporated in a Schedule to the Master Agreement:
 

	  	
      1)

    	
      No
        Netting Between Transactions. The
        parties agree that subparagraph (ii) of Section 2(c) will apply to any
        Transaction.

    

Ref No. 38408

 

Page 4 of 20

	

 
 	

2)
 	

Termination Provisions. Subject to the provisions of Paragraph 4(11) below, for purposes of the Master Agreement:
 

	

 
 	

(a)
 	

“Specified Entity” is not applicable to BNY or the Counterparty for any purpose. 
 

	

 
 	

(b)
 	

The “Breach of Agreement” provision of Section 5(a)(ii) will not apply to BNY or the Counterparty.
 

	

 
 	

(c)
 	

The “Credit Support Default” provisions of Section 5(a)(iii) will not apply to BNY (except with respect to credit support furnished pursuant to Paragraph 4 9) below or the Counterparty.
 

	

 
 	

(d)
 	

The “Misrepresentation” provisions of Section 5(a)(iv) will not apply to BNY or the Counterparty.
 

	

 
 	

(e)
 	

“Default under Specified Transaction” is not applicable to BNY or the Counterparty for any purpose, and, accordingly, Section 5(a)(v) shall not apply to BNY or the Counterparty.
 

	

 
 	

(f)
 	

The “Cross Default” provisions of Section 5(a)(vi) will not apply to BNY or to the Counterparty.
 

	

 
 	

(g)
 	

The “Bankruptcy” provisions of Section 5(a)(vii)(2) will not apply to the Counterparty; the words “trustee” and “custodian” in Section 5(a)(vii)(6) will not include the Trustee; and the words “specifically authorized “ are inserted before the word “action” in Section 5(a)(vii)(9).
 

	

 
 	

(h)
 	

The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will not apply to BNY or the Counterparty.
 

	

 
 	

(i)
 	

The “Automatic Early Termination” provision of Section 6(a) will not apply to BNY or to the Counterparty.
 

	

 
 	

(j)
 	

Payments on Early Termination. For the purpose of Section 6(e):
 

  	 	(i)	Market
        Quotation will apply.
	
         

      	
        (ii)

      	
        The
          Second Method will apply. 

      

 

	

 
 	

(k)
 	

“Termination Currency” means United States Dollars. 
 

	

 
 	

(l)
 	

No Additional Amounts Payable by Counterparty. The Counterparty shall not be required to pay any additional amounts pursuant to Section 2(d)(i)(4) or 2(d)(ii).
 

Ref No. 38408

Page 5 of 20

	

 
 	

3)
 	

Tax Representations. 
 

	

 
 	

(a)
 	

Payer Representations. For the purpose of Section 3(e), BNY and the Counterparty make the following representations:
 

It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Section 2(e), 6(d)(ii) or 6(e)) to be made by it to the other party under this Agreement. In making this representation, it may rely on: 

	

 
 	

(i)
 	

the accuracy of any representations made by the other party pursuant to Section 3(f);
 

	

 
 	

(ii)
 	

the satisfaction of the agreement contained in Section 4 (a)(i) or 4(a)(iii) and the accuracy and effectiveness of any document provided by the other party pursuant to Section 4 (a)(i) or 4(a)(iii); and
 

	

 
 	

(iii)
 	

the satisfaction of the agreement of the other party contained in Section 4(d), provided that it shall not be a breach of this representation where reliance is placed on clause (ii) and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice of its legal or commercial position. 
 

	

 
 	

(b)
 	

Payee Representations. For the purpose of Section 3(f), BNY and the Counterparty make the following representations.
 

	

 
 	

(i)
 	

The following representation will apply to BNY: 
 

(x) It is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of the United States Treasury Regulations) for United States federal income tax purposes, (y) it is a trust company duly organized and existing under the laws of the State of New York, and (y) its U.S. taxpayer identification number is 135160382. 

	

 
 	

(ii)
 	

The following representation will apply to the Counterparty:
 

The beneficial owner of payments made to it under this Agreement is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States Treasury Regulations) for United States federal income tax purposes.

 

Ref No. 38408

Page 6 of 20

	

 
 	

        4)

      	

Documents to be delivered. For the purpose of Section 4(a):
 

	

 
 	

(a)
 	

Tax forms, documents or certificates to be delivered are:
 

 

  	
        Party
          required to

          deliver document

      	
         

      	
        Form/Document/
          Certificate

      	
         

      	
        Date
          by which 

          to be delivered

      	
         

      	
        Covered
          by Section 

          3(d) Representation

      
	
        

      	 	
        

      	 	
        

      	 	
        

      
	
        BNY
          and Counterparty

      	
         

      	
        Any
          document required or reasonably requested to allow the other party to
          make payments under this Agreement without any deduction or withholding
          for or on the account of any tax. 

      	
         

      	
        Upon
          the execution and delivery of this Agreement 

      	
         

      	
        Yes

      

	

 
 	

(b)
 	

Other documents to be delivered are:
 

 

  	
        Party
          required to 

          deliver document

      	
         

      	
        Form/Document/
          Certificate

      	
         

      	
        Date
          by which 

          to be delivered

      	
         

      	
        Covered
          by Section 3(d) Representation

      
	
        

      	 	
        

      	 	
        

      	 	
        

      
	
        BNY
          

      	
         

      	
        A
          certificate of an authorized officer of the party, as to the incumbency
          and authority of the respective officers of the party signing this Agreement,
          any relevant Credit Support Document, or any Confirmation, as the case
          may be.

      	
         

      	
        Upon
          the execution and delivery of this Agreement 

      	
         

      	
        Yes

      
	
        Counterparty
          

      	
         

      	
        (i)
          a copy of the executed Pooling and Servicing and Yield Maintenance Allocation
          Agreement, and (ii) an incumbency certificate verifying the true signatures
          and authority of the person or persons signing this letter agreement
          on behalf of the Counterparty.

      	
         

      	
        Upon
          the execution and delivery of this Agreement 

      	
         

      	
        Yes

      
	
        BNY

      	
         

      	
        A
          copy of the most recent publicly available regulatory call report.

      	
         

      	
        Promptly
          after request by the other party

      	
         

      	
        Yes

      
	
        BNY

      	
         

      	
        Legal
          Opinion as to enforceability of the Agreement.

      	
         

      	
        Upon
          the execution and delivery of this Agreement.

      	
         

      	
        Yes

      
	
         

      	
         

      	
         

      	
         

      	
         

      	
         

      	
        Yes

      

 

Ref No. 38408

Page 7 of 20

	

 
 	

5)
 	

Miscellaneous. 
 

	

 
 	

(a)
 	

Address for Notices:  For the purposes of Section 12(a):
 

Address for notices or communications to BNY:

The Bank of New York

Swaps and Derivative Products Group

Global Market Division

32 Old Slip 15th Floor

New York, New York 10286

Attention: Steve Lawler

with a copy to:

The Bank of New York

Swaps and Derivative Products Group

32 Old Slip 16th Floor

New York, New York 10286

Attention: Andrew Schwartz

Tele: 212-804-5103

Fax: 212-804-5818/5837

(For all purposes)

Address for notices or communications to the Counterparty:

Deutsche Bank National Trust Company

1761 East St. Andrew Place

Santa Ana, California 92705

Attn: Harborview 2006-9

	

 
 	

(b)
 	

Process Agent. For the purpose of Section 13(c):
 

BNY appoints as its Process Agent: Not Applicable

The Counterparty appoints as its Process Agent: Not Applicable

	

 
 	

(c)
 	

Offices. The provisions of Section 10(a) will not apply to this Agreement; neither BNY nor the Counterparty have any Offices other than as set forth in the Notices Section and BNY agrees that, for purposes of Section 6(b), it shall not in future have any Office other than one in the United States.
 

	

 
 	

(d)
 	

Multibranch Party. For the purpose of Section 10(c):
 

BNY is not a Multibranch Party.

Ref No. 38408

Page 8 of 20

The Counterparty is not a Multibranch Party.

	

 
 	

(e)
 	

Calculation Agent. The Calculation Agent is BNY.
 

 

  	
        (f)

      	
        Credit
          Support Document.

      	
        Not
          applicable for either BNY (except with respect to credit support furnished
          pursuant to Paragraph 9) or the Counterparty.

      
	
        (g)

      	
        Credit
          Support Provider.

      	
         

      
	
         

      	
        BNY:

      	
        Not
          Applicable (except with respect to credit support furnished pursuant
          to Paragraph 9)

         

      
	
         

      	
        Counterparty:

      	
        Not
          Applicable

      

	

 
 	
        (h)

      	

Governing Law. The parties to this Agreement hereby agree that the law of the State of New York shall govern their rights and duties in whole, without regard to conflict of law provisions thereof other than New York General Obligations Law Sections 5-1401 and 5-1402.
 

	

 
 	

(i)
 	

Severability. If any term, provision, covenant, or condition of this Agreement, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable (in whole or in part) for any reason, the remaining terms, provisions, covenants, and conditions hereof shall continue in full force and effect as if this Agreement had been executed with the invalid or unenforceable portion eliminated, so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective benefits or expectations of the parties. 
 

The parties shall endeavor to engage in good faith negotiations to replace any invalid or unenforceable term, provision, covenant or condition with a valid or enforceable term, provision, covenant or condition, the economic effect of which comes as close as possible to that of the invalid or unenforceable term, provision, covenant or condition.

	

 
 	

(j)
 	

Recording of Conversations. Each party (i) consents to the recording of telephone conversations between the trading, marketing and other relevant personnel of the parties in connection with this Agreement or any potential Transaction, (ii) agrees to obtain any necessary consent of, and give any necessary notice of such recording to, its relevant personnel and (iii) agrees, to the extent permitted by applicable law, that recordings may be submitted in evidence in any Proceedings.
 

Ref No. 38408

  Page
    9 of 20

 

	

 
 	

(k)
 	

Waiver of Jury Trial. Each party waives any right it may have to a trial by jury in respect of any Proceedings relating to this Agreement or any Credit Support Document. 
 

	

 
 	

(l)
 	

Non-Recourse. Notwithstanding any provision herein or in the ISDA Form Master Agreement to the contrary, the obligations of the Counterparty hereunder are limited recourse obligations of the Counterparty, payable solely from the Yield Maintenance Trust and the proceeds thereof to satisfy the Counterparty’s obligations hereunder. In the event that the Yield Maintenance Trust and proceeds thereof should be insufficient to satisfy all claims outstanding and following the realization of the Yield Maintenance Trust and the distribution of the proceeds thereof in accordance with the Yield Maintenance Allocation Agreement, any claims against or obligations of the Counterparty under the ISDA Form Master Agreement or any other confirmation thereunder, still outstanding shall be extinguished and thereafter not
revive. This provision shall survive the expiration of this Agreement.
 

	

 
 	

(m)
 	

Limitation on Institution of Bankruptcy Proceedings. BNY shall not institute against or cause any other person to institute against, or join any other person in instituting against the Counterparty, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates. This provision shall survive the expiration of this Agreement.
 

	

 
 	

(n)
 	

Remedy of Failure to Pay or Deliver. The ISDA Form Master Agreement is hereby amended by replacing the word “third” in the third line of Section 5(a)(i) by the word “second”.
 

	

 
 	

(o)
 	

“Affiliate” will have the meaning specified in Section 14 of the ISDA Form Master Agreement, provided that the Counterparty shall not be deemed to have any Affiliates for purposes of this Agreement, including for purposes of Section 6(b)(ii).
 

	

 
 	

(p)
 	

Deutsche Bank’s Capacity. It is expressly understood and agreed by the parties hereto that insofar as this Confirmation is executed by the Administrator (i) this Confirmation is executed and delivered by Deutsche Bank, not in its individual capacity but solely as Administrator pursuant to the Yield Maintenance Allocation Agreement in the exercise of the powers and authority conferred and vested in it thereunder and pursuant to instruction set forth therein and in the Pooling and Servicing Agreement (ii) each of the representations, undertakings and agreements herein made on behalf of the Yield Maintenance Trust is made and intended not as a personal representation, undertaking or agreement of the Administrator but is made and intended for the purpose of binding only the Counterparty, and (iii) under no
circumstances will Deutsche Bank, in its individual capacity be personally liable for the payment of any indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Confirmation.
 

  Ref No. 38408

Page
  10 of 20

 

	

 
 	

(q)
 	

Deutsche Bank’s Representation. Deutsche Bank, as Administrator, represents and warrants that:
 

It has been directed under the Yield Maintenance Allocation Agreement to enter into this letter agreement as Administrator on behalf of the Counterparty.

	

 
 	

(r)
 	

Amendment to Yield Maintenance Allocation Agreement. Notwithstanding any provisions to the contrary in the Yield Maintenance Allocation Agreement, none of GCFP, the Administrator or the Trustee shall enter into any amendment thereto which could have a material adverse affect on BNY without the prior written consent of BNY.
 

	

 
 	

6)
 	

Additional Representations. Section 3 is hereby amended by adding, at the end thereof, the following Sections 3(g) and 3(h):
 

	

 
 	

“(g)
 	

        Relationship
          Between Parties. 

      

	

 
 	

(1)
 	

Nonreliance. It is not relying on any statement or representation of the other party regarding the Transaction (whether written or oral), other than the representations expressly made in this Agreement or the Confirmation in respect of that Transaction.
 

	

 
 	

(2)
 	

Evaluation and Understanding. 
 

	

 
 	

(i)
 	

Each Party acknowledges that Deutsche Bank, has been directed under the Yield Maintenance Agreement to enter into this Transaction as Administrator on behalf of the Counterparty.
 

	

 
 	

(ii)
 	

It is acting for its own account and has the capacity to evaluate (internally or through independent professional advice) the Transaction and has made its own decision to enter into the Transaction; it is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into such transaction; it being understood that information and explanations related to the terms and conditions of such transaction shall not be considered investment advice or a recommendation to enter into such transaction. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of the transaction; and
 

  Ref No. 38408

Page 11 of 20

 

	

 
 	

(iii)
 	

It understands the terms, conditions and risks of the Transaction and is willing and able to accept those terms and conditions and to assume (and does, in fact assume) those risks, financially and otherwise. 
 

	

 
 	

(3)
 	

Principal. The other party is not acting as a fiduciary or an advisor for it in respect of this Transaction.
 

	

 
 	

(h)
 	

Exclusion from Commodities Exchange Act. (A) It is an “eligible contract participant” within the meaning of Section 1a(12) of the Commodity Exchange Act, as amended; (B) this Agreement and each Transaction is subject to individual negotiation by such party; and (C) neither this Agreement nor any Transaction will be executed or traded on a “trading facility” within the meaning of Section 1a(33) of the Commodity Exchange Act, as amended.
 

	

 
 	

7)
 	

Set-off. Notwithstanding any provision of this Agreement or any other existing or future agreement (but without limiting the provisions of Section 2(c) and Section 6, except as provided in the next sentence), each party irrevocably waives any and all rights it may have to set off, net, recoup or otherwise withhold or suspend or condition payment or performance of any obligation between it and the other party hereunder against any obligation between it and the other party under any other agreements. The last sentence of the first paragraph of Section 6(e) shall not apply for purposes of this Transaction.
 

	

 
 	

8)
 	

Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to BNY as the sole Affected Party (unless otherwise provided below): 
 

(i) Downgrade. BNY fails to comply with the Downgrade Provisions as set forth in Paragraph 4(9). BNY shall be the sole Affected Party.

(ii) Provision of Information Required by Regulation AB. BNY shall fail to comply with the provisions of Paragraph 4(10) below within the time provided for therein. BNY shall be the sole Affected Party.

	

 
 	

9)
 	

Ratings Downgrade. For purposes of each Transaction:
 

(i) Certain Definitions.

(A) “Rating Agency Condition” means, with respect to any particular proposed act or omission to act hereunder, that the Trustee shall have received prior written confirmation from each of the applicable Rating Agencies, and shall have provided notice thereof to BNY, that the proposed action or inaction would not cause a downgrade or withdrawal of their then-current ratings of the Certificates.

Ref No. 38408

Page 12 of 20

 

(B) “Qualifying Ratings” means, with respect to the debt of any assignee or guarantor under Paragraph 4(9)(ii) below, 

(x) a short-term unsecured and unsubordinated debt rating of “P-1” (not on watch for downgrade), and a long-term unsecured and unsubordinated debt of “A1” (not on watch for downgrade) (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of “Aa3” (not on watch for downgrade) by Moody’s, and 

(y) a short-term unsecured and unsubordinated debt rating of “A-1” by S&P or a long-term unsecured and unsubordinated debt rating of “A+” by S&P.

(C) A “Collateralization Event” shall occur with respect to BNY (or any applicable credit support provider) if:

(x) its short-term unsecured and unsubordinated debt rating is reduced to “P-1” (and is on watch for downgrade) or below, and its long-term unsecured and unsubordinated debt is reduced to “A1” (and is on watch for downgrade) or below (or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “Aa3” (and is on watch for downgrade) or below) by Moody’s, or

(y) its short-term unsecured and unsubordinated debt rating is reduced below “A-1” or its long-term unsecured and unsubordinated debt rating of “A+” by S&P.

(D) A “Ratings Event” shall occur with respect to BNY (or any applicable credit support provider) if:

(x) its short-term unsecured and unsubordinated debt rating is withdrawn or reduced to “P-2” or below by Moody’s and its long-term unsecured and unsubordinated debt is reduced to “A3” or below (or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “A2” or below) by Moody’s, or

(y) its long-term unsecured and unsubordinated debt rating is withdrawn or reduced below “BBB-” by S&P.

For purposes of (C) and (D) above, such events include those occurring in connection with a merger, consolidation or other similar transaction by BNY or any applicable credit support provider, but they shall be deemed not to occur if, within thirty (30) days (or, in the case of a Ratings Event, ten (10) Business Days) thereafter, each of the applicable Rating Agencies has reconfirmed the ratings of the Certificates, as applicable, which were in effect immediately prior thereto. For the avoidance of doubt, a downgrade of the rating on the Certificates could occur in the event that BNY does not post sufficient collateral.

Ref No. 38408

Page 13 of 20

 

(ii) Actions to be Taken Upon Occurrence of Event. Subject, in each case set forth in (A) and (B) below, to satisfaction of the Rating Agency Condition:

(A) Collateralization Event. If a Collateralization Event occurs with respect to BNY (or any applicable credit support provider), then BNY shall, at its own expense, within thirty (30) days of such Collateralization Ratings Event:

(1) post collateral under agreements and other instruments approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of the Certificates,

(2) assign the Transaction to a third party, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, on terms substantially similar to this Confirmation, which party is approved by the Counterparty, such approval not to be unreasonably withheld,

(3) obtain a guaranty of, or a contingent agreement of, another person, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, to honor BNY’s obligations under this Agreement, provided that such other person is approved by the Counterparty, such approval not to be unreasonably withheld, or

(4) establish any other arrangement approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of their Certificates.

(B) Ratings Event. If a Ratings Event occurs with respect to BNY (or any applicable credit support provider), then BNY shall, at its own expense, within ten (10) Business Days of such Ratings Event:

(1) assign the Transaction to a third party, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, on terms substantially similar to this Confirmation, which party is approved by the Counterparty, such approval not to be unreasonably withheld,

(2) obtain a guaranty of, or a contingent agreement of, another person, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, to honor BNY’s obligations under this Agreement, provided that such other person is approved by the Counterparty, such approval not to be unreasonably withheld, or

Ref No. 38408

Page 14 of 20

 

(3) establish any other arrangement approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of the Certificates.

	

 
 	

10)
 	

        Compliance
          with Regulation AB. 

      

	

 
 	

(a)
 	

It shall be a swap disclosure event (“Swap Disclosure Event”) if, at any time after the date hereof, the Administrator (acting on behalf of the Depositor or the Sponsor) notifies BNY that the aggregate “significance percentage” (calculated in accordance with the provisions of Item 1115 of Regulation AB) of all derivative instruments provided by BNY and any of its affiliates to Counterparty (collectively, the “Aggregate Significance Percentage”) is 10% or more. 
 

	

 
 	

(b)
 	

Upon the occurrence of a Swap Disclosure Event, BNY, at its own cost and expense (and without any expense or liability to the Depositor, the Sponsor, the Underwriter, the Depositor, the Trustee, the Trust Fund, the Administrator or the Yield Maintenance Trust), shall take one of the following actions: (i) provide to the Sponsor and the Depositor: (x) if the Aggregate Significance Percentage is 10% or more, but less than 20%, the information required under Item 1115(b)(1) of Regulation AB or (y) if the Aggregate Significance Percentage is 20% or more, within five (5) Business Days, the information required under Item 1115(b)(2) of Regulation AB; or (ii) assign its rights and delegate its obligations under the Transaction to a counterparty with the Approved Ratings Thresholds (or which satisfies the Rating Agency Condition), that (x) provides the
information specified in clause (i) above to the Depositor and Sponsor and (y) enters into documentation substantially similar to the documentation then in place between BNY and the Counterparty. 
 

	

 
 	

(c)
 	

For so long as the Aggregate Significance Percentage is 10% or more, BNY shall provide any updates to the information provided pursuant to clause (b) above to the Sponsor and the Depositor within five (5) Business Days following availability thereof (but in no event more than 45 days after the end of each of BNY’s fiscal quarter for any quarterly update, and in no even more than 90 days after the end of each of BNY’s fiscal year for any annual update). 
 

	

 
 	

(d)
 	

All information provided pursuant to clauses (b) and (c) shall be in a form suitable for conversion to the format required for filing by the Depositor with the Commission via the Electronic Data Gathering and Retrieval System (EDGAR). In addition, any such information, if audited, shall be accompanied by any necessary auditor’s consents or, if such information is unaudited, shall be accompanied by an appropriate agreed-upon procedures letter from BNY’s accountants. If permitted by Regulation AB, any such information may be provided by reference to or incorporation by reference from reports filed pursuant to the Exchange Act.
 

Ref No. 38408

Page 15 of 20

 

	

 
 	

11)
 	

Additional Provisions. Notwithstanding the terms of Sections 5 and 6 of the ISDA Form Master Agreement, if the Counterparty has satisfied its payment obligations under Section 2(a)(i) of the ISDA Form Master Agreement, and shall, at the time, have no future payment or delivery obligation, whether absolute or contingent, then unless BNY is required pursuant to appropriate proceedings to return to the Counterparty or otherwise returns to the Counterparty upon demand of the Counterparty any portion of such payment, (a) the occurrence of an event described in Section 5(a) of the ISDA Form Master Agreement with respect to the Counterparty shall not constitute an Event of Default or Potential Event of Default with respect to the Counterparty as the Defaulting Party and (b) BNY shall be entitled to designate an
Early Termination Date pursuant to Section 6 of the ISDA Form Master Agreement only as a result of a Termination Event set forth in either Section 5(b)(i) or Section 5(b)(ii) of the ISDA Form Master Agreement with respect to BNY as the Affected Party or Section 5(b)(iii) of the ISDA Form Master Agreement with respect to BNY as the Burdened Party. 
 

	

 
 	

12)
 	

BNY Payments to be made to Deutsche Bank in its capacity as Administrator. BNY will, unless otherwise directed by GCFP, make all payments hereunder to Deutsche Bank in its capacity as Administrator. Payment made to Deutsche Bank at the account specified herein or to another account specified in writing by Deutsche Bank shall satisfy the payment obligations of BNY hereunder to the extent of such payment.
 

Ref No. 38408

Page 16 of 20

 

5.
  Account Details and Settlement Information:

Payments to BNY:

The Bank of New York

Derivative Products Support Department 

32 Old Slip, 16th Floor

New York, New York 10286

Attention: Renee Etheart

ABA #021000018

Account #890-0068-175

Reference: Interest Rate Swap

Payments to Counterparty:

Deutsche Bank Trust Company - Americas

ABA: 021001033

Bene Acct: 014-19-663

Bene Acct Name: NYLTD Funds Control - Stars West

Attn: Radha Nilakantan HVMLT 2006-9

6. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

Please confirm that the foregoing correctly sets forth the terms of our agreement by executing this agreement and returning it via facsimile to Derivative Products Support Dept., Attn: Kenny Au-Yeung at 212-804-5818/5837. Once we receive this we will send you two original confirmations for execution.

Ref No. 38408

Page 17 of 20

 

We are very pleased to have executed this Transaction with you and we look forward to completing other transactions with you in the near future.

Very truly yours,

 

  	

THE BANK OF NEW YORK
 	

 
 	

 
 
	
        

          By: 

      	

  
 	

 
 	

 
 	

 
 
	
         
 	

 	

 
 	

 
 	

 
 
	
         
 	

Name:
 	

 
 	

 
 	

 
 
	
         
 	

Title:
 	

 
 	

 
 	

 
 

Ref No. 38408

Page 18 of 20

 

The Counterparty, acting through its duly authorized signatory, hereby agrees to, accepts and confirms the terms of the foregoing as of the Trade Date.

YIELD MAINTENANCE TRUST

BY: DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT INDIVIDUALLY, BUT SOLELY AS ADMINISTRATOR ON BEHALF OF THE YIELD MAINTENANCE TRUST

 

  	
        

          By: 

      	

  
 	

 
 	

 
 	

 
 
	
         
 	

 	

 
 	

 
 	

 
 
	
         
 	

Name:
 	

 
 	

 
 	

 
 
	
         
 	

Title:
 	

 
 	

 
 	

 
 

Ref No. 38408

Page
  19 of 20

SCHEDULE
  I

All dates subject to adjustment in accordance with the Following Business Day

Convention.

 

  	
        Accrual
          Start Date

      	
         

      	
        Accrual
          End Dates

      	
         

      	
        Notional
          Amount 

          (in USD)

      	
         

      	
        Cap
          Rate (%)

      	
         

      	
        Ceiling
          Rate (%)

      
	
        

      	  	
        

      	  	
        

      	  	
        

      	 	
        

      
	
        04/19/10

      	
         

      	
        05/19/10

      	
         

      	
        820,938,371.82

      	
         

      	
        6.0000000

      	
         

      	
        7.92185

      
	
        05/19/10

      	
         

      	
        06/19/10

      	
         

      	
        791,538,915.55

      	
         

      	
        6.0000000

      	
         

      	
        7.86930

      
	
        06/19/10

      	
         

      	
        07/19/10

      	
         

      	
        763,254,959.30

      	
         

      	
        6.0000000

      	
         

      	
        7.81264

      
	
        07/19/10

      	
         

      	
        08/19/10

      	
         

      	
        735,946,291.26

      	
         

      	
        6.0000000

      	
         

      	
        7.74799

      
	
        08/19/10

      	
         

      	
        09/19/10

      	
         

      	
        684,909,144.93

      	
         

      	
        6.0000000

      	
         

      	
        7.68334

      
	
        09/19/10

      	
         

      	
        10/19/10

      	
         

      	
        660,481,750.59

      	
         

      	
        6.0000000

      	
         

      	
        7.60965

      
	
        10/19/10

      	
         

      	
        11/19/10

      	
         

      	
        636,984,332.34

      	
         

      	
        6.0000000

      	
         

      	
        7.52761

      
	
        11/19/10

      	
         

      	
        12/19/10

      	
         

      	
        614,381,508.94

      	
         

      	
        6.0000000

      	
         

      	
        7.44539

      
	
        12/19/10

      	
         

      	
        01/19/11

      	
         

      	
        563,338,590.32

      	
         

      	
        4.8100000

      	
         

      	
        7.35162

      
	
        01/19/11

      	
         

      	
        02/19/11

      	
         

      	
        544,559,931.99

      	
         

      	
        4.8100000

      	
         

      	
        7.25267

      
	
        02/19/11

      	
         

      	
        03/19/11

      	
         

      	
        503,062,507.47

      	
         

      	
        4.6404887

      	
         

      	
        7.15120

      
	
        03/19/11

      	
         

      	
        04/19/11

      	
         

      	
        486,414,096.28

      	
         

      	
        4.6346868

      	
         

      	
        7.04164

      
	
        04/19/11

      	
         

      	
        05/19/11

      	
         

      	
        470,397,792.11

      	
         

      	
        4.6287177

      	
         

      	
        6.92326

      
	
        05/19/11

      	
         

      	
        06/19/11

      	
         

      	
        454,999,991.89

      	
         

      	
        4.6225829

      	
         

      	
        6.80612

      
	
        06/19/11

      	
         

      	
        07/19/11

      	
         

      	
        440,093,945.89

      	
         

      	
        4.6162350

      	
         

      	
        6.67199

      
	
        07/19/11

      	
         

      	
        08/19/11

      	
         

      	
        425,768,715.65

      	
         

      	
        4.6097157

      	
         

      	
        6.58330

      
	
        08/19/11

      	
         

      	
        09/19/11

      	
         

      	
        388,113,428.17

      	
         

      	
        4.5902838

      	
         

      	
        6.72913

      
	
        09/19/11

      	
         

      	
        10/19/11

      	
         

      	
        374,533,474.81

      	
         

      	
        4.5823173

      	
         

      	
        6.87471

      
	
        10/19/11

      	
         

      	
        11/19/11

      	
         

      	
        361,504,889.88

      	
         

      	
        4.5741116

      	
         

      	
        7.02843

      
	
        11/19/11

      	
         

      	
        12/19/11

      	
         

      	
        349,005,916.99

      	
         

      	
        4.5656638

      	
         

      	
        7.17005

      
	
        12/19/11

      	
         

      	
        01/19/12

      	
         

      	
        337,015,612.30

      	
         

      	
        4.5569708

      	
         

      	
        7.31899

      
	
        01/19/12

      	
         

      	
        02/19/12

      	
         

      	
        325,513,790.33

      	
         

      	
        4.5480302

      	
         

      	
        7.46336

      
	
        02/19/12

      	
         

      	
        03/19/12

      	
         

      	
        294,496,099.42

      	
         

      	
        4.5204383

      	
         

      	
        7.59259

      
	
        03/19/12

      	
         

      	
        04/19/12

      	
         

      	
        284,445,722.35

      	
         

      	
        4.5102071

      	
         

      	
        7.74715

      
	
        04/19/12

      	
         

      	
        05/19/12

      	
         

      	
        274,804,466.85

      	
         

      	
        4.4996892

      	
         

      	
        7.88553

      
	
        05/19/12

      	
         

      	
        06/19/12

      	
         

      	
        265,555,220.92

      	
         

      	
        4.4888811

      	
         

      	
        8.01568

      
	
        06/19/12

      	
         

      	
        07/19/12

      	
         

      	
        256,680,560.76

      	
         

      	
        4.4777785

      	
         

      	
        8.14982

      
	
        07/19/12

      	
         

      	
        08/19/12

      	
         

      	
        248,161,685.08

      	
         

      	
        4.4663740

      	
         

      	
        8.27284

      
	
        08/19/12

      	
         

      	
        09/19/12

      	
         

      	
        225,203,597.68

      	
         

      	
        4.4313435

      	
         

      	
        8.40462

      
	
        09/19/12

      	
         

      	
        10/19/12

      	
         

      	
        217,617,483.43

      	
         

      	
        4.4181436

      	
         

      	
        8.53029

      

 

Ref No. 38408

 

  Page
    20 of 20

      

  	
        10/19/12

      	
         

      	
        11/19/12

      	
         

      	
        210,320,671.23

      	
         

      	
        4.4045487

      	
         

      	
        8.64465

      
	
        11/19/12

      	
         

      	
        12/19/12

      	
         

      	
        203,299,895.78

      	
         

      	
        4.3905468

      	
         

      	
        8.76051

      
	
        12/19/12

      	
         

      	
        01/19/13

      	
         

      	
        196,544,713.96

      	
         

      	
        4.3761303

      	
         

      	
        8.86465

      
	
        01/19/13

      	
         

      	
        02/19/13

      	
         

      	
        190,045,077.80

      	
         

      	
        4.3612917

      	
         

      	
        8.96278

      
	
        02/19/13

      	
         

      	
        03/19/13

      	
         

      	
        169,707,646.69

      	
         

      	
        4.3075194

      	
         

      	
        9.05584

      
	
        03/19/13

      	
         

      	
        04/19/13

      	
         

      	
        163,691,842.26

      	
         

      	
        4.2890529

      	
         

      	
        9.13546

      
	
        04/19/13

      	
         

      	
        05/19/13

      	
         

      	
        157,903,673.36

      	
         

      	
        4.2699569

      	
         

      	
        9.22806

      
	
        05/19/13

      	
         

      	
        06/19/13

      	
         

      	
        152,334,527.62

      	
         

      	
        4.2502136

      	
         

      	
        9.31798

      
	
        06/19/13

      	
         

      	
        07/19/13

      	
         

      	
        146,976,118.73

      	
         

      	
        4.2298051

      	
         

      	
        9.37853

      
	
        07/19/13

      	
         

      	
        08/19/13

      	
         

      	
        141,820,473.55

      	
         

      	
        4.2087131

      	
         

      	
        9.44097

      
	
        08/19/13

      	
         

      	
        09/19/13

      	
         

      	
        125,957,927.31

      	
         

      	
        4.1329898

      	
         

      	
        9.51025

      
	
        09/19/13

      	
         

      	
        10/19/13

      	
         

      	
        117,889,608.13

      	
         

      	
        8.9757629

      	
         

      	
        9.56586

      
	
        10/19/13

      	
         

      	
        11/19/13

      	
         

      	
        113,019,115.68

      	
         

      	
        8.9919073

      	
         

      	
        9.60744

      
	
        11/19/13

      	
         

      	
        12/19/13

      	
         

      	
        108,339,211.13

      	
         

      	
        9.0149599

      	
         

      	
        9.65708

      
	
        12/19/13

      	
         

      	
        01/19/14

      	
         

      	
        103,842,153.70

      	
         

      	
        9.0041903

      	
         

      	
        9.67412

      
	
        01/19/14

      	
         

      	
        02/19/14

      	
         

      	
        99,522,763.13

      	
         

      	
        8.9995892

      	
         

      	
        9.69859

      
	
        02/19/14

      	
         

      	
        03/19/14

      	
         

      	
        95,373,748.45

      	
         

      	
        8.9895840

      	
         

      	
        9.71899

      
	
        03/19/14

      	
         

      	
        04/19/14

      	
         

      	
        91,389,576.61

      	
         

      	
        8.9540976

      	
         

      	
        9.71531

      
	
        04/19/14

      	
         

      	
        05/19/14

      	
         

      	
        87,564,396.32

      	
         

      	
        8.9321001

      	
         

      	
        9.72656

      
	
        05/19/14

      	
         

      	
        06/19/14

      	
         

      	
        83,893,091.36

      	
         

      	
        8.8923713

      	
         

      	
        9.72160

      
	
        06/19/14

      	
         

      	
        07/19/14

      	
         

      	
        80,369,548.04

      	
         

      	
        8.8406840

      	
         

      	
        9.70627

      

 

  Ref
    No. 38408

 

EXHIBIT
  X

CLASS 2A-1C2 YIELD MAINTENANCE AGREEMENT

X-1

Page 1 of 21

   

Dated:  October 2, 2006

Rate Cap Transaction

Re:  BNY Reference No. 38409

Ladies and Gentlemen:

The purpose of this letter agreement (“Agreement”) is to confirm the terms and conditions of the rate Cap Transaction entered into on the Trade Date specified below (the “Transaction”) between The Bank of New York (“BNY”), a trust company duly organized and existing under the laws of the State of New York, and Deutsche Bank National Trust Company, not in its individual capacity, but solely as trustee (in such capacity, the “Trustee”) under the Pooling and Servicing Agreement, dated as of September 1, 2006, among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
Greenwich Capital Financial Products, Inc. (“GCFP”), as seller (the “Seller”) and the Trustee (the “Pooling and Servicing Agreement”). The Trustee, on behalf of the Harborview Mortgage Loan Trust 2006-9 (the “Issuing Entity”) is referred to herein as the “Counterparty”. This Agreement, which evidences a complete and binding agreement between you and us to enter into the Transaction on the terms set forth below, constitutes a “Confirmation” as referred to in the “ISDA Form Master Agreement” (as defined below), as well as a “Schedule” as referred to in the ISDA Form Master Agreement.

1. Form of Agreement. This Agreement is subject to the 2000 ISDA Definitions (the “Definitions”), as published by the International Swaps and Derivatives Association, Inc. (“ISDA”). You and we have agreed to enter into this Agreement in lieu of negotiating a Schedule to the 1992 ISDA Master Agreement (Multicurrency—Cross Border) form (the “ISDA Form Master Agreement”). An ISDA Form Master Agreement, as modified by the Schedule terms in
Paragraph 4 of this Confirmation (the “Master Agreement”), shall be deemed to have been executed by you and us on the date we entered into the Transaction. Except as otherwise specified, references herein to Sections shall be to Sections of the ISDA Form Master Agreement and the Master Agreement, and references to Paragraphs shall be to paragraphs of this Agreement. In the event of any inconsistency between the provisions of this Agreement and the Definitions or the ISDA Form Master Agreement, this Agreement shall prevail for purposes of the Transaction. Capitalized terms not otherwise defined herein or in the Definitions or the Master Agreement shall have the meaning defined for such term in the Pooling and Servicing Agreement.

  Ref
    No. 38409

Page 2 of 21

 

	

2.
 	

Certain Terms. The terms of the particular Transaction to which this Confirmation relates are as follows:
 

 

  	
        Type
          of Transaction:

      	
         

      	
        Rate
          Cap

      
	 	 	 
	
        Notional
          Amount:

      	
         

      	
        With
          respect to any Calculation Period the amount set forth for such period
          on Schedule I attached hereto. 

      
	 	 	 
	
        Trade
          Date:

      	
         

      	
        October
          2, 2006

      
	 	 	 
	
        Effective
          Date:

      	
         

      	
        October
          19, 2006

      
	 	 	 
	
        Termination
          Date:

      	
         

      	
        January
          19, 2015, subject to adjustment in accordance with the Following Business
          Day Convention.

      
	 	 	 

  	
        FIXED
          AMOUNTS

      
	 

		
        Fixed
          Amount Payer:

      	
         

      	
        Counterparty
          represents and warrants that it has directed GCFP to make payment of
          the Fixed Amount on its behalf.

      
	 	 	 
	
        Fixed
          Amount:

      	
         

      	
        [                 ] 

      
	 	 	 
	
        Fixed
          Amount Payer 

      	
         

      	
         

      
	
        Payment
          Date:

      	
         

      	
        October
          4, 2006

      
	 	 	 

  	
        FLOATING
          AMOUNTS

      

  	 	 	 
	
        Floating
          Rate Payer:

      	
         

      	
        BNY

      
	 	 	 
	
        Cap
          Rate:

      	
         

      	
        For
          each Calculation Period, as set forth for such period on Schedule I
          attached hereto.

      
	 	 	 
	
        Ceiling
          Rate:

      	
         

      	
        For
          each Calculation Period, as set forth for such period on Schedule I
          attached hereto.

      
	 	 	 
	
        Floating
          Rate for initial

      	
         

      	
         

      
	
        Calculation
          Period:

      	
         

      	
        To
          be determined

      
	 	 	 
	
        Floating
          Rate Day Count Fraction:

      	
         

      	
        Actual/360

      
	 	 	 
	
        Floating
          Rate Option:

      	
         

      	
        USD-LIBOR-BBA,
          provided, however, if the Floating Rate Option for a Calculation Period
          is greater than Ceiling Rate then the Floating Rate Option for such
          Calculation Period shall be deemed equal to Ceiling Rate.

      
	 	 	 
	
        Designated
          Maturity:

      	
         

      	
        One
          month

      
	 	 	 
	
        Spread:

      	
         

      	
        Inapplicable

      

 

  Ref
    No. 38408

Page 3 of 21

 

  	
        Floating
          Rate Payer

          Period End Dates:

      	
         

      	
        The
          19th day of each month, beginning on November 19, 2006 and
          ending on the Termination Date, subject to adjustment in accordance
          with the Following Business Day Convention.

      
	 	 	 
	
        Floating
          Rate Payer

          Payment Dates:

      	
         

      	
        Early
          Payment shall be applicable. The Floating Rate Payer Payment Date shall
          be one (1) Business Day preceding each Floating Rate Payer Period End
          Date.

      
	 	 	 
	
        Reset
          Dates:

      	
         

      	
        The
          first day of each Calculation Period or Compounding Period, if Compounding
          is applicable.

      
	 	 	 
	
        Compounding:

      	
         

      	
        Inapplicable

      
	 	 	 
	
        Business
          Days for Payments

      	
         

      	
         

      
	
        By
          both parties:

      	
         

      	
        New
          York 

      
	 	 	 
	
        Calculation
          Agent:

      	
         

      	
        BNY

      

  	
        3.

      	
        Additional
          Provisions:

      

1) Reliance. Each party hereto is hereby advised and acknowledges that the other party has engaged in (or refrained from engaging in) substantial financial transactions and has taken (or refrained from taking) other material actions in reliance upon the entry by the parties into the Transaction being entered into on the terms and conditions set forth herein. 

2) Transfer, Amendment and Assignment. No transfer, amendment, waiver, supplement, assignment or other modification of this Transaction shall be permitted by either party unless each of Standard & Poor’s Ratings Service, a division of The McGraw-Hill Companies, Inc (“S&P”) and Moody’s Investors Service, Inc. (“Moody’s”), has been provided notice of the same and confirms in writing (including by facsimile transmission) that it will not downgrade, qualify, withdraw or otherwise modify its then-current ratings on the Certificates issued under
the Pooling and Servicing Agreement (the “Certificates”).

	

4.
 	

Provisions Deemed Incorporated in a Schedule to the Master Agreement:
 

	

 
 	

1)
 	

No Netting Between Transactions. The parties agree that subparagraph (ii) of Section 2(c) will apply to any Transaction.
 

	

 
 	

2)
 	

Termination Provisions. Subject to the provisions of Paragraph 4(11) below, for purposes of the Master Agreement:
 

	

 
 	

(a)
 	

“Specified Entity” is not applicable to BNY or the Counterparty for any purpose. 
 

 

Ref
  No. 38409

Page 4 of 21

	

 
 	

(b)
 	

The “Breach of Agreement” provision of Section 5(a)(ii) will not apply to BNY or the Counterparty.
 

	

 
 	

(c)
 	

The “Credit Support Default” provisions of Section 5(a)(iii) will not apply to BNY (except with respect to credit support furnished pursuant to Paragraph 4 9) below or the Counterparty.
 

	

 
 	

(d)
 	

The “Misrepresentation” provisions of Section 5(a)(iv) will not apply to BNY or the Counterparty.
 

	

 
 	

(e)
 	

“Default under Specified Transaction” is not applicable to BNY or the Counterparty for any purpose, and, accordingly, Section 5(a)(v) shall not apply to BNY or the Counterparty.
 

	

 
 	

(f)
 	

The “Cross Default” provisions of Section 5(a)(vi) will not apply to BNY or to the Counterparty.
 

	

 
 	

(g)
 	

The “Bankruptcy” provisions of Section 5(a)(vii)(2) will not apply to the Counterparty; the words “trustee” and “custodian” in Section 5(a)(vii)(6) will not include the Trustee; and the words “specifically authorized “ are inserted before the word “action” in Section 5(a)(vii)(9).
 

	

 
 	

(h)
 	

The “Credit Event Upon Merger” provisions of Section 5(b)(iv) will not apply to BNY or the Counterparty.
 

	

 
 	

(i)
 	

The “Automatic Early Termination” provision of Section 6(a) will not apply to BNY or to the Counterparty.
 

	

 
 	

(j)
 	

Payments on Early Termination. For the purpose of Section 6(e):
 

	

 
 	

(i)
 	

Market Quotation will apply.
 

	

 
 	

(ii)
 	

The Second Method will apply. 
 

	

 
 	

(k)
 	

“Termination Currency” means United States Dollars. 
 

	

 
 	

(l)
 	

No Additional Amounts Payable by Counterparty. The Counterparty shall not be required to pay any additional amounts pursuant to Section 2(d)(i)(4) or 2(d)(ii).
 

  Ref
    No. 38409

Page 5 of 21

	

 
 	

3)
 	

Tax Representations. 
 

	

 
 	

(a)
 	

Payer Representations. For the purpose of Section 3(e), BNY and the Counterparty make the following representations:
 

It is not required by any applicable law, as modified by the practice of any relevant governmental revenue authority, of any Relevant Jurisdiction to make any deduction or withholding for or on account of any Tax from any payment (other than interest under Section 2(e), 6(d)(ii) or 6(e)) to be made by it to the other party under this Agreement. In making this representation, it may rely on: 

	

 
 	

(i)
 	

the accuracy of any representations made by the other party pursuant to Section 3(f);
 

	

 
 	

(ii)
 	

the satisfaction of the agreement contained in Section 4 (a)(i) or 4(a)(iii) and the accuracy and effectiveness of any document provided by the other party pursuant to Section 4 (a)(i) or 4(a)(iii); and
 

	

 
 	

(iii)
 	

the satisfaction of the agreement of the other party contained in Section 4(d), provided that it shall not be a breach of this representation where reliance is placed on clause (ii) and the other party does not deliver a form or document under Section 4(a)(iii) by reason of material prejudice of its legal or commercial position. 
 

	

 
 	

(b)
 	

Payee Representations. For the purpose of Section 3(f), BNY and the Counterparty make the following representations.
 

	

 
 	

(i)
 	

The following representation will apply to BNY: 
 

(x) It is a “U.S. person” (as that term is used in section 1.1441-4(a)(3)(ii) of the United States Treasury Regulations) for United States federal income tax purposes, (y) it is a trust company duly organized and existing under the laws of the State of New York, and (y) its U.S. taxpayer identification number is 135160382. 

	

 
 	

(ii)
 	

The following representation will apply to the Counterparty:
 

The
  beneficial owner of payments made to it under this Agreement is a “U.S.
  person” (as that term is used in section 1.1441-4(a)(3)(ii) of United States
  Treasury Regulations) for United States federal income tax purposes.

Ref
  No. 38409

Page 6 of 21

	

 
 	

4)
 	

Documents to be delivered. For the purpose of Section 4(a):
 

	

 
 	

(a)
 	

Tax forms, documents or certificates to be delivered are:
 

 

	

Party required to 
 deliver document
 	

 
 	

Form/Document/ Certificate
 	

 
 	

Date by which
 to be delivered
 	

 
 	

Covered by Section 
 3(d) Representation
 
	

 	

 
 	

 	

 
 	

 	

 
 	

 
	

BNY and Counterparty
 	

 
 	

Any document required or reasonably requested to allow the other party to make payments under this Agreement without any deduction or withholding for or on the account of any tax. 
 	

 
 	

Upon the execution and delivery of this Agreement 
 	

 
 	

Yes
 

 

	

 
 	

(b)
 	

Other documents to be delivered are:
 

 

	

Party required to 
 deliver document
 	

 
 	

Form/Document/ Certificate
 	

 
 	

Date by which
  to be delivered
 	

 
 	

Covered by Section 
 3(d) Representation
 
	

 	

 
 	

 	

 
 	

 	

 
 	

 
	

BNY 
 	

 
 	

A certificate of an authorized officer of the party, as to the incumbency and authority of the respective officers of the party signing this Agreement, any relevant Credit Support Document, or any Confirmation, as the case may be.
 	

 
 	

Upon the execution and delivery of this Agreement 
 	

 
 	

Yes
 
	

Counterparty 
 	

 
 	

(i) a copy of the executed Pooling and Servicing Agreement, and (ii) an incumbency certificate verifying the true signatures and authority of the person or persons signing this letter agreement on behalf of the Counterparty.
 	

 
 	

Upon the execution and delivery of this Agreement 
 	

 
 	

Yes
 
	

BNY
 	

 
 	

A copy of the most recent publicly available regulatory call report.
 	

 
 	

Promptly after request by the other party
 	

 
 	

Yes
 
	

BNY
 	

 
 	

Legal Opinion as to enforceability of the Agreement.
 	

 
 	

Upon the execution and delivery of this Agreement.
 	

 
 	

Yes
 

 

Ref
  No. 38409

Page 7 of 21

	

 
 	

5)
 	

Miscellaneous. 
 

	

 
 	

(a)
 	

Address for Notices:  For the purposes of Section 12(a):
 

Address for notices or communications to BNY:

The Bank of New York

Swaps and Derivative Products Group

Global Market Division

32 Old Slip 15th Floor

New York, New York 10286

Attention: Steve Lawler

with a copy to:

The Bank of New York

Swaps and Derivative Products Group

32 Old Slip 16th Floor

New York, New York 10286

Attention: Andrew Schwartz

Tele: 212-804-5103

Fax: 212-804-5818/5837

(For all purposes)

Address for notices or communications to the Counterparty:

Deutsche Bank National Trust Company

1761 East St. Andrew Place

Santa Ana, California 92705

Attn: Harborview 2006-9

	

 
 	

(b)
 	

Process Agent. For the purpose of Section 13(c):
 

BNY appoints as its Process Agent: Not Applicable

The Counterparty appoints as its Process Agent: Not Applicable

	

 
 	

(c)
 	

Offices. The provisions of Section 10(a) will not apply to this Agreement; neither BNY nor the Counterparty have any Offices other than as set forth in the Notices Section and BNY agrees that, for purposes of Section 6(b), it shall not in future have any Office other than one in the United States.
 

	

 
 	

(d)
 	

Multibranch Party. For the purpose of Section 10(c):
 

BNY is not a Multibranch Party.

The
  Counterparty is not a Multibranch Party.

Ref
  No. 38409

Page 8 of 21

	

 
 	

(e)
 	

Calculation Agent. The Calculation Agent is BNY.
 

  	
         

      	
        (f)

      	
        Credit
          Support Document. 

      	
        Not
          applicable for either BNY (except with respect to credit support furnished
          pursuant to Paragraph 9) or the Counterparty.

      

	

 
 	

(g)
 	

Credit Support Provider.
 

  	
         

      	
         

      	
        BNY:
          

      	
        Not
          Applicable (except with respect to credit support furnished pursuant
          to Paragraph 9)

      
	 	 	Counterparty:	Not Applicable

	

 
 	

(h)
 	

Governing Law. The parties to this Agreement hereby agree that the law of the State of New York shall govern their rights and duties in whole, without regard to conflict of law provisions thereof other than New York General Obligations Law Sections 5-1401 and 5-1402.
 

	

 
 	

(i)
 	

Severability. If any term, provision, covenant, or condition of this Agreement, or the application thereof to any party or circumstance, shall be held to be invalid or unenforceable (in whole or in part) for any reason, the remaining terms, provisions, covenants, and conditions hereof shall continue in full force and effect as if this Agreement had been executed with the invalid or unenforceable portion eliminated, so long as this Agreement as so modified continues to express, without material change, the original intentions of the parties as to the subject matter of this Agreement and the deletion of such portion of this Agreement will not substantially impair the respective benefits or expectations of the parties. 
 

The parties shall endeavor to engage in good faith negotiations to replace any invalid or unenforceable term, provision, covenant or condition with a valid or enforceable term, provision, covenant or condition, the economic effect of which comes as close as possible to that of the invalid or unenforceable term, provision, covenant or condition.

	

 
 	

(j)
 	

Recording of Conversations. Each party (i) consents to the recording of telephone conversations between the trading, marketing and other relevant personnel of the parties in connection with this Agreement or any potential Transaction, (ii) agrees to obtain any necessary consent of, and give any necessary notice of such recording to, its relevant personnel and (iii) agrees, to the extent permitted by applicable law, that recordings may be submitted in evidence in any Proceedings.
 

Ref
  No. 38409

Page 9 of 21

	

 
 	

(k)
 	

Waiver of Jury Trial. Each party waives any right it may have to a trial by jury in respect of any Proceedings relating to this Agreement or any Credit Support Document. 
 

	

 
 	

(l) 
 	

Non-Recourse. Notwithstanding any provision herein or in the ISDA Form Master Agreement to the contrary, the obligations of the Counterparty hereunder are limited recourse obligations of the Counterparty, payable solely from the Issuing Entity and the proceeds thereof to satisfy the Counterparty’s obligations hereunder. In the event that the Issuing Entity and proceeds thereof should be insufficient to satisfy all claims outstanding and following the realization of the Issuing Entity and the distribution of the proceeds thereof in accordance with the Pooling and Servicing Agreement, any claims against or obligations of the Counterparty under the ISDA Form Master Agreement or any other confirmation thereunder, still outstanding shall be extinguished and thereafter not revive. This provision shall survive
the expiration of this Agreement.
 

	

 
 	

(m)
 	

Limitation on Institution of Bankruptcy Proceedings. BNY shall not institute against or cause any other person to institute against, or join any other person in instituting against the Counterparty, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, under any of the laws of the United States or any other jurisdiction, for a period of one year and one day (or, if longer, the applicable preference period) following indefeasible payment in full of the Certificates. This provision shall survive the expiration of this Agreement.
 

	

 
 	

(n)
 	

Remedy of Failure to Pay or Deliver. The ISDA Form Master Agreement is hereby amended by replacing the word “third” in the third line of Section 5(a)(i) by the word “second”.
 

	

 
 	

(o)
 	

“Affiliate” will have the meaning specified in Section 14 of the ISDA Form Master Agreement, provided that the Counterparty shall not be deemed to have any Affiliates for purposes of this Agreement, including for purposes of Section 6(b)(ii).
 

	

 
 	

(p)
 	

Deutsche Bank’s Capacity. It is expressly understood and agreed by the parties hereto that insofar as this Confirmation is executed by the Trustee (i) this Confirmation is executed and delivered by Deutsche Bank, not in its individual capacity but solely as Trustee pursuant to the Pooling and Servicing Agreement in the exercise of the powers and authority conferred and vested in it thereunder and pursuant to instruction set forth therein (ii) each of the representations, undertakings and agreements herein made on behalf of the trust is made and intended not as a personal representation, undertaking or agreement of the Trustee but is made and intended for the purpose of binding only the Counterparty, and (iii) under no circumstances will Deutsche Bank, in its individual capacity be personally liable for
the payment of any indebtedness or expenses or be personally liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken under this Confirmation.
 

  Ref
  No. 38409

Page 10 of 21

	

 
 	

(q)
 	

Deutsche Bank’s Representation. Deutsche Bank, as Trustee, represents and warrants that:
 

It has been directed under the Pooling and Servicing Agreement to enter into this letter agreement as Trustee on behalf of the Counterparty.

	

 
 	

(r)
 	

Amendment to Pooling and Servicing Agreement. Notwithstanding any provisions to the contrary in the Pooling and Servicing Agreement, none of the Depositor, Seller,  or the Trustee shall enter into any amendment thereto which could have a material adverse affect on BNY without the prior written consent of BNY.
 

	

 
 	

6)
 	

Additional Representations. Section 3 is hereby amended by adding, at the end thereof, the following Sections 3(g) and 3(h):
 

	

 
 	

“(g)
 	

Relationship Between Parties. 
 

	

 
 	

(1)
 	

Nonreliance. It is not relying on any statement or representation of the other party regarding the Transaction (whether written or oral), other than the representations expressly made in this Agreement or the Confirmation in respect of that Transaction.
 

	

 
 	

(2)
 	

Evaluation and Understanding. 
 

	

 
 	

(ii)
 	

Each Party acknowledges that Deutsche Bank, has been directed under the Pooling and Servicing Agreement to enter into this Transaction as Trustee on behalf of the Counterparty.
 

	

 
 	

(ii) 
 	

It is acting for its own account and has the capacity to evaluate (internally or through independent professional advice) the Transaction and has made its own decision to enter into the Transaction; it is not relying on any communication (written or oral) of the other party as investment advice or as a recommendation to enter into such transaction; it being understood that information and explanations related to the terms and conditions of such transaction shall not be considered investment advice or a recommendation to enter into such transaction. No communication (written or oral) received from the other party shall be deemed to be an assurance or guarantee as to the expected results of the transaction; and
 

  Ref
  No. 38409

Page 11 of 21

	

 
 	

(iii)
 	

It understands the terms, conditions and risks of the Transaction and is willing and able to accept those terms and conditions and to assume (and does, in fact assume) those risks, financially and otherwise. 
 

	

 
 	

(3)
 	

Principal. The other party is not acting as a fiduciary or an advisor for it in respect of this Transaction.
 

	

 
 	

(h)
 	

Exclusion from Commodities Exchange Act. (A) It is an “eligible contract participant” within the meaning of Section 1a(12) of the Commodity Exchange Act, as amended; (B) this Agreement and each Transaction is subject to individual negotiation by such party; and (C) neither this Agreement nor any Transaction will be executed or traded on a “trading facility” within the meaning of Section 1a(33) of the Commodity Exchange Act, as amended.
 

	

 
 	

7)
 	

Set-off. Notwithstanding any provision of this Agreement or any other existing or future agreement (but without limiting the provisions of Section 2(c) and Section 6, except as provided in the next sentence), each party irrevocably waives any and all rights it may have to set off, net, recoup or otherwise withhold or suspend or condition payment or performance of any obligation between it and the other party hereunder against any obligation between it and the other party under any other agreements. The last sentence of the first paragraph of Section 6(e) shall not apply for purposes of this Transaction.
 

	

 
 	

8)
 	

Additional Termination Events. The following Additional Termination Events will apply, in each case with respect to BNY as the sole Affected Party (unless otherwise provided below):  
 

(i) Downgrade. BNY fails to comply with the Downgrade Provisions as set forth in Paragraph 4(9). BNY shall be the sole Affected Party.

(ii)
  Provision of Information Required by
  Regulation AB. BNY shall fail to comply
  with the provisions of Paragraph 4(10) below within the time provided for therein.
  BNY shall be the sole Affected Party.

	
       

    	
      9)

    	
      Ratings
        Downgrade. For purposes of each
        Transaction:

    

	
       

    	
      (i)
        Certain Definitions.

    

(A)
  “Rating Agency Condition”
  means, with respect to any particular proposed act or omission to act hereunder,
  that the Trustee shall have received prior written confirmation from each of
  the applicable Rating Agencies, and shall have provided notice thereof to BNY,
  that the proposed action or inaction would not cause a downgrade or withdrawal
  of their then-current ratings of the Certificates.

Ref
  No. 38409

Page 12 of 21

 

 

(B) “Qualifying Ratings” means, with respect to the debt of any assignee or guarantor under Paragraph 4(9)(ii) below, 

(x) a short-term unsecured and unsubordinated debt rating of “P-1” (not on watch for downgrade), and a long-term unsecured and unsubordinated debt of “A1” (not on watch for downgrade) (or, if it has no short-term unsecured and unsubordinated debt rating, a long term rating of “Aa3” (not on watch for downgrade) by Moody’s, and 

(y) a short-term unsecured and unsubordinated debt rating of “A-1” by S&P or a long-term unsecured and unsubordinated debt rating of “A+” by S&P.

(C) A “Collateralization Event” shall occur with respect to BNY (or any applicable credit support provider) if:

(x) its short-term unsecured and unsubordinated debt rating is reduced to “P-1” (and is on watch for downgrade) or below, and its long-term unsecured and unsubordinated debt is reduced to “A1” (and is on watch for downgrade) or below (or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “Aa3” (and is on watch for downgrade) or below) by Moody’s, or

(y) its short-term unsecured and unsubordinated debt rating is reduced below “A-1” or its long-term unsecured and unsubordinated debt rating of “A+” by S&P.

(D) A “Ratings Event” shall occur with respect to BNY (or any applicable credit support provider) if:

(x) its short-term unsecured and unsubordinated debt rating is withdrawn or reduced to “P-2” or below by Moody’s and its long-term unsecured and unsubordinated debt is reduced to “A3” or below (or, if it has no short-term unsecured and unsubordinated debt rating, its long term rating is reduced to “A2” or below) by Moody’s, or

(y) its long-term unsecured and unsubordinated debt rating is withdrawn  or reduced below “BBB-” by S&P.

For
  purposes of (C) and (D) above, such events include those occurring in connection
  with a merger, consolidation or other similar transaction by BNY or any applicable
  credit support provider, but they shall be deemed not to occur if, within thirty
  (30) days (or, in the case of a Ratings Event, ten (10) Business Days) thereafter,
  each of the applicable Rating Agencies has reconfirmed the ratings of the Certificates,
  as applicable, which were in effect immediately prior thereto. For the avoidance
  of doubt, a downgrade of the rating on the Certificates could occur in the event
  that BNY does not post sufficient collateral.

Ref
  No. 38409

Page 13 of 21

(ii) Actions to be Taken Upon Occurrence of Event. Subject, in each case set forth in (A) and (B) below, to satisfaction of the Rating Agency Condition:

(A) Collateralization Event. If a Collateralization Event occurs with respect to BNY (or any applicable credit support provider), then BNY shall, at its own expense, within thirty (30) days of such Collateralization Ratings Event:

(1) post collateral under agreements and other instruments approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of the Certificates,

(2) assign the Transaction to a third party, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, on terms substantially similar to this Confirmation, which party is approved by the Counterparty, such approval not to be unreasonably withheld,

(3) obtain a guaranty of, or a contingent agreement of, another person, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, to honor BNY’s obligations under this Agreement, provided that such other person is approved by the Counterparty, such approval not to be unreasonably withheld, or

(4) establish any other arrangement approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of their Certificates.

(B) Ratings Event. If a Ratings Event occurs with respect to BNY (or any applicable credit support provider), then BNY shall, at its own expense, within ten (10) Business Days of such Ratings Event:

(1) assign the Transaction to a third party, the ratings of the debt of which (or of the guarantor of which) meet or exceed the Qualifying Ratings, on terms substantially similar to this Confirmation, which party is approved by the Counterparty, such approval not to be unreasonably withheld,

(2)
  obtain a guaranty of, or a contingent agreement of, another person, the ratings
  of the debt of which (or of the guarantor of which) meet or exceed the Qualifying
  Ratings, to honor BNY’s obligations under this Agreement, provided
  that such other person is approved
  by the Counterparty, such approval not to be unreasonably withheld, or

Ref
  No. 38409

Page 14 of 21

(3) establish any other arrangement approved by the Counterparty, such approval not to be unreasonably withheld, which will be sufficient to restore the immediately prior ratings of the Certificates.

	

 
 	

10)
 	

Compliance with Regulation AB. 
 

	

 
 	

(a)
 	

It shall be a swap disclosure event (“Swap Disclosure Event”) if, at any time after the date hereof, the Trustee (acting on behalf of the Depositor or the Sponsor) notifies BNY that the aggregate “significance percentage” (calculated in accordance with the provisions of Item 1115 of Regulation AB) of all derivative instruments provided by BNY and any of its affiliates to Counterparty (collectively, the “Aggregate Significance Percentage”) is 10% or more. 
 

	

 
 	

(b)
 	

Upon the occurrence of a Swap Disclosure Event, BNY, at its own cost and expense (and without any expense or liability to the Depositor, the Sponsor, the Underwriters, the Depositor, the Trustee or the Issuing Entity), shall take one of the following actions: (i) provide to the Sponsor and the Depositor: (x) if the Aggregate Significance Percentage is 10% or more, but less than 20%, the information required under Item 1115(b)(1) of Regulation AB or (y) if the Aggregate Significance Percentage is 20% or more, within five (5) Business Days, the information required under Item 1115(b)(2) of Regulation AB; or (ii) assign its rights and delegate its obligations under the Transaction to a counterparty with the Approved Ratings Thresholds (or which satisfies the Rating Agency Condition), that (x) provides the information specified in clause (i) above to the
Depositor and Sponsor and (y) enters into documentation substantially similar to the documentation then in place between BNY and the Counterparty. 
 

	

 
 	

(c)
 	

For so long as the Aggregate Significance Percentage is 10% or more, BNY shall provide any updates to the information provided pursuant to clause (b) above to the Sponsor and the Depositor within five (5) Business Days following availability thereof (but in no event more than 45 days after the end of each of BNY’s fiscal quarter for any quarterly update, and in no even more than 90 days after the end of each of BNY’s fiscal year for any annual update). 
 

	

 
 	

(d)
 	

All information provided pursuant to clauses (b) and (c) shall be in a form suitable for conversion to the format required for filing by the Depositor with the Commission via the Electronic Data Gathering and Retrieval System (EDGAR). In addition, any such information, if audited, shall be accompanied by any necessary auditor’s consents or, if such information is unaudited, shall be accompanied by an appropriate agreed-upon procedures letter from BNY’s accountants. If permitted by Regulation AB, any such information may be provided by reference to or incorporation by reference from reports filed pursuant to the Exchange Act.
 

  Ref
    No. 38409

 

Page 15 of 21

 

	

 
 	

11)
 	

Additional Provisions. Notwithstanding the terms of Sections 5 and 6 of the ISDA Form Master Agreement, if the Counterparty has satisfied its payment obligations under Section 2(a)(i) of the ISDA Form Master Agreement, and shall, at the time, have no future payment or delivery obligation, whether absolute or contingent, then unless BNY is required pursuant to appropriate proceedings to return to the Counterparty or otherwise returns to the Counterparty upon demand of the Counterparty any portion of such payment, (a) the occurrence of an event described in Section 5(a) of the ISDA Form Master Agreement with respect to the Counterparty shall not constitute an Event of Default or Potential Event of Default with respect to the Counterparty as the Defaulting Party and (b) BNY shall be entitled to designate an
Early Termination Date pursuant to Section 6 of the ISDA Form Master Agreement only as a result of a Termination Event set forth in either Section 5(b)(i) or Section 5(b)(ii) of the ISDA Form Master Agreement with respect to BNY as the Affected Party or Section 5(b)(iii) of the ISDA Form Master Agreement with respect to BNY as the Burdened Party. 
 

	

 
 	

12)
 	

BNY Payments to be made to Deutsche Bank in its capacity as Trustee. BNY will, unless otherwise directed by the Trustee, make all payments hereunder to Deutsche Bank in its capacity as Trustee. Payment made to Deutsche Bank at the account specified herein or to another account specified in writing by Deutsch Bank shall satisfy the payment obligations of BNY hereunder to the extent of such payment.
 

  Ref
    No. 38409

 

Page 16 of 21

5. Account Details and Settlement Information:

Payments to BNY:

The Bank of New York

Derivative Products Support Department 

32 Old Slip, 16th Floor

New York, New York 10286

Attention: Renee Etheart

ABA #021000018

Account #890-0068-175

Reference: Interest Rate Swap

Payments to Counterparty:

Deutsche Bank Trust Company - Americas

ABA: 021001033

Bene Acct: 014-19-663

Bene Acct Name: NYLTD Funds Control - Stars West

Attn: Radha Nilakantan HVMLT 2006-9

6. Counterparts. This Agreement may be executed in several counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.

Please
  confirm that the foregoing correctly sets forth the terms of our agreement by
  executing this agreement and returning it via facsimile to Derivative Products
  Support Dept., Attn: Kenny Au-Yeung at 212-804-5818/5837. Once we receive this
  we will send you two original confirmations for execution.

Ref
  No. 38409

 

Page 17 of 21

We are very pleased to have executed this Transaction with you and we look forward to completing other transactions with you in the near future.

Very truly yours,

 

	

THE BANK OF NEW YORK
 	

 
 	

 
 
	
        By: 
 	
         
    
 	

 
 	

 
 	
         
 
	
         
 	
        

 	
         
 	
         
 	
         
 
	
         
 	
        Name:
 Title:
 	
         
 	
         
 	
         
 

  Ref
    No. 38409

 

Page 18 of 21

 

The Counterparty, acting through its duly authorized signatory, hereby agrees to, accepts and confirms the terms of the foregoing as of the Trade Date.

HARBORVIEW MORTGAGE LOAN TRUST 2006-9

BY: DEUTSCHE BANK NATIONAL TRUST COMPANY, NOT INDIVIDUALLY, BUT SOLELY AS TRUSTEE ON BEHALF OF HARBORVIEW MORTGAGE LOAN TRUST 2006-9

 

	

 
 	

 
 	

 
 
	
        By: 
 	
          
 	

 
 	

 
 	
         
 
	
         
 	
        

 	
         
 	
         
 	
         
 
	
         
 	
        Name:
 Title:
 	
         
 	
         
 	
         
 

  Ref
    No. 38409

 

Page 19 of 21

SCHEDULE I

All dates subject to adjustment in accordance with the Following Business Day

Convention.

 

  	
        Accrual Start Date
 	
         
 	
        Accrual End Date
 	
         
 	
        Notional Amount
 (in USD)
 	
         
 	
        Cap rate (%)
 	
         
 	
        Ceiling Rate (%)
 
	
        

 	
         
 	
        

 	
         
 	
        

 	
         
 	
        

 	
         
 	
        

 
	

10/19/06
 	

 
 	

11/19/06
 	

 
 	

162,766,760.30
 	

 
 	

6.38842
 	

 
 	

10.000000
 
	

11/19/06
 	

 
 	

12/19/06
 	

 
 	

158,956,102.13
 	

 
 	

9.47567
 	

 
 	

10.000000
 
	

12/19/06
 	

 
 	

01/19/07
 	

 
 	

155,639,023.48
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

01/19/07
 	

 
 	

02/19/07
 	

 
 	

152,387,213.89
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

02/19/07
 	

 
 	

03/19/07
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/07
 	

 
 	

04/19/07
 	

 
 	

146,074,075.34
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

04/19/07
 	

 
 	

05/19/07
 	

 
 	

143,010,153.65
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

05/19/07
 	

 
 	

06/19/07
 	

 
 	

140,006,314.38
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

06/19/07
 	

 
 	

07/19/07
 	

 
 	

137,061,328.98
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

07/19/07
 	

 
 	

08/19/07
 	

 
 	

134,173,989.43
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

08/19/07
 	
         
 	

09/19/07
 	
         
 	

131,343,116.27
 	
         
 	

9.16743
 	
         
 	

10.000000
 
	

09/19/07
 	

 
 	

10/19/07
 	

 
 	

128,567,556.57
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

10/19/07
 	

 
 	

11/19/07
 	

 
 	

125,812,377.63
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

11/19/07
 	

 
 	

12/19/07
 	

 
 	

123,111,618.51
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

12/19/07
 	

 
 	

01/19/08
 	

 
 	

120,464,159.11
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

01/19/08
 	

 
 	

02/19/08
 	

 
 	

117,868,903.19
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

02/19/08
 	

 
 	

03/19/08
 	

 
 	

115,324,777.93
 	

 
 	

9.80520
 	

 
 	

10.000000
 
	

03/19/08
 	

 
 	

04/19/08
 	

 
 	

112,830,733.34
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

04/19/08
 	

 
 	

05/19/08
 	

 
 	

110,385,741.80
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

05/19/08
 	

 
 	

06/19/08
 	

 
 	

107,988,797.56
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

06/19/08
 	

 
 	

07/19/08
 	

 
 	

105,638,916.26
 	

 
 	

9.47570
 	

 
 	

10.000000
 
	

07/19/08
 	

 
 	

08/19/08
 	

 
 	

103,335,129.97
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

08/19/08
 	

 
 	

09/19/08
 	

 
 	

101,076,493.71
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

09/19/08
 	

 
 	

10/19/08
 	

 
 	

98,862,083.77
 	

 
 	

9.47570
 	

 
 	

10.000000
 
	

10/19/08
 	

 
 	

11/19/08
 	

 
 	

96,663,741.46
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

11/19/08
 	

 
 	

12/19/08
 	

 
 	

94,508,611.45
 	

 
 	

9.47570
 	

 
 	

10.000000
 
	

12/19/08
 	

 
 	

01/19/09
 	

 
 	

92,209,070.31
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

01/19/09
 	

 
 	

02/19/09
 	

 
 	

89,926,320.80
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

02/19/09
 	

 
 	

03/19/09
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/09
 	

 
 	

04/19/09
 	

 
 	

85,507,593.05
 	

 
 	

9.16741
 	

 
 	

10.000000
 
	

04/19/09
 	

 
 	

05/19/09
 	

 
 	

83,141,915.79
 	

 
 	

9.47566
 	

 
 	

10.000000
 

  Ref
    No. 38409

      

Page 20 of 21

  	
        05/19/09
 	
         
 	
        06/19/09
 	
         
 	
        80,722,815.60
 	
         
 	
        9.16742
 	
         
 	
        10.000000
 
	

06/19/09
 	

 
 	

07/19/09
 	

 
 	

78,361,704.45
 	

 
 	

9.47567
 	

 
 	

10.000000
 
	

07/19/09
 	

 
 	

08/19/09
 	

 
 	

76,057,078.47
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

08/19/09
 	

 
 	

09/19/09
 	

 
 	

73,807,710.52
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

09/19/09
 	

 
 	

10/19/09
 	

 
 	

71,612,281.25
 	

 
 	

9.47567
 	

 
 	

10.000000
 
	

10/19/09
 	

 
 	

11/19/09
 	

 
 	

69,469,502.75
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

11/19/09
 	

 
 	

12/19/09
 	

 
 	

67,378,117.75
 	

 
 	

9.47567
 	

 
 	

10.000000
 
	

12/19/09
 	

 
 	

01/19/10
 	

 
 	

65,336,898.94
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

01/19/10
 	

 
 	

02/19/10
 	

 
 	

63,344,648.23
 	

 
 	

9.16742
 	

 
 	

10.000000
 
	

02/19/10
 	

 
 	

03/19/10
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/10
 	

 
 	

04/19/10
 	

 
 	

59,502,400.74
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

04/19/10
 	

 
 	

05/19/10
 	

 
 	

57,650,147.74
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

05/19/10
 	

 
 	

06/19/10
 	

 
 	

56,002,859.82
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

06/19/10
 	

 
 	

07/19/10
 	

 
 	

54,648,677.97
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

07/19/10
 	

 
 	

08/19/10
 	

 
 	

53,327,004.01
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

08/19/10
 	

 
 	

09/19/10
 	

 
 	

52,037,061.19
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

09/19/10
 	

 
 	

10/19/10
 	

 
 	

50,778,091.26
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

10/19/10
 	
         
 	

11/19/10
 	
         
 	

49,549,354.04
 	
         
 	

9.16743
 	
         
 	

10.000000
 
	

11/19/10
 	

 
 	

12/19/10
 	

 
 	

48,350,126.99
 	

 
 	

9.47568
 	

 
 	

10.000000
 
	

12/19/10
 	

 
 	

01/19/11
 	

 
 	

47,179,704.76
 	

 
 	

9.16743
 	

 
 	

10.000000
 
	

01/19/11
 	

 
 	

02/19/11
 	

 
 	

46,037,398.82
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

02/19/11
 	

 
 	

03/19/11
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/11
 	

 
 	

04/19/11
 	

 
 	

43,834,463.39
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

04/19/11
 	

 
 	

05/19/11
 	

 
 	

42,772,537.32
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

05/19/11
 	

 
 	

06/19/11
 	

 
 	

41,736,133.65
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

06/19/11
 	

 
 	

07/19/11
 	

 
 	

40,724,642.07
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

07/19/11
 	

 
 	

08/19/11
 	

 
 	

39,737,466.83
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

08/19/11
 	

 
 	

09/19/11
 	

 
 	

38,774,026.38
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

09/19/11
 	

 
 	

10/19/11
 	

 
 	

37,833,753.00
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

10/19/11
 	

 
 	

11/19/11
 	

 
 	

36,916,092.55
 	

 
 	

9.16744
 	

 
 	

10.000000
 
	

11/19/11
 	

 
 	

12/19/11
 	

 
 	

36,020,504.07
 	

 
 	

9.47569
 	

 
 	

10.000000
 
	

12/19/11
 	

 
 	

01/19/12
 	

 
 	

35,146,459.50
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

01/19/12
 	

 
 	

02/19/12
 	

 
 	

34,293,443.39
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

02/19/12
 	

 
 	

03/19/12
 	

 
 	

33,460,952.54
 	

 
 	

9.80520
 	

 
 	

10.000000
 
	

03/19/12
 	

 
 	

04/19/12
 	

 
 	

32,648,495.80
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

04/19/12
 	

 
 	

05/19/12
 	

 
 	

31,855,593.69
 	

 
 	

9.47570
 	

 
 	

10.000000
 
	

05/19/12
 	

 
 	

06/19/12
 	

 
 	

31,081,778.19
 	

 
 	

9.16745
 	

 
 	

10.000000
 
	

06/19/12
 	

 
 	

07/19/12
 	

 
 	

30,326,592.42
 	

 
 	

9.47570
 	

 
 	

10.000000
 

  Ref
    No. 38409

      

Page 21 of 21

  	
        07/19/12
 	
         
 	
        08/19/12
 	
         
 	
        29,589,590.42
 	
         
 	
        9.16745
 	
         
 	
        10.000000
 
	

08/19/12
 	

 
 	

09/19/12
 	

 
 	

28,870,336.84
 	

 
 	

9.16746
 	

 
 	

10.000000
 
	

09/19/12
 	

 
 	

10/19/12
 	

 
 	

28,168,406.75
 	

 
 	

9.47571
 	

 
 	

10.000000
 
	

10/19/12
 	

 
 	

11/19/12
 	

 
 	

28,168,406.75
 	

 
 	

9.16746
 	

 
 	

10.000000
 
	

11/19/12
 	

 
 	

12/19/12
 	

 
 	

28,168,406.75
 	

 
 	

9.47571
 	

 
 	

10.000000
 
	

12/19/12
 	

 
 	

01/19/13
 	

 
 	

27,747,545.48
 	

 
 	

9.16746
 	

 
 	

10.000000
 
	

01/19/13
 	

 
 	

02/19/13
 	

 
 	

27,072,284.44
 	

 
 	

9.16746
 	

 
 	

10.000000
 
	

02/19/13
 	

 
 	

03/19/13
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/13
 	

 
 	

04/19/13
 	

 
 	

25,770,199.84
 	

 
 	

9.16746
 	

 
 	

10.000000
 
	

04/19/13
 	
         
 	

05/19/13
 	
         
 	

25,142,605.77
 	
         
 	

9.47571
 	
         
 	

10.000000
 
	

05/19/13
 	

 
 	

06/19/13
 	

 
 	

24,530,145.45
 	

 
 	

9.16747
 	

 
 	

10.000000
 
	

06/19/13
 	

 
 	

07/19/13
 	

 
 	

23,932,456.23
 	

 
 	

9.47572
 	

 
 	

10.000000
 
	

07/19/13
 	

 
 	

08/19/13
 	

 
 	

23,349,184.11
 	

 
 	

9.16747
 	

 
 	

10.000000
 
	

08/19/13
 	

 
 	

09/19/13
 	

 
 	

22,779,983.55
 	

 
 	

9.16747
 	

 
 	

10.000000
 
	

09/19/13
 	

 
 	

10/19/13
 	

 
 	

22,224,517.24
 	

 
 	

9.47572
 	

 
 	

10.000000
 
	

10/19/13
 	

 
 	

11/19/13
 	

 
 	

21,682,455.92
 	

 
 	

9.16747
 	

 
 	

10.000000
 
	

11/19/13
 	

 
 	

12/19/13
 	

 
 	

21,153,478.21
 	

 
 	

9.47572
 	

 
 	

10.000000
 
	

12/19/13
 	

 
 	

01/19/14
 	

 
 	

20,637,270.40
 	

 
 	

9.16748
 	

 
 	

10.000000
 
	

01/19/14
 	

 
 	

02/19/14
 	

 
 	

20,133,526.25
 	

 
 	

9.16748
 	

 
 	

10.000000
 
	

02/19/14
 	

 
 	

03/19/14
 	

 
 	

0.00
 	

 
 	

0.00000
 	

 
 	

0.000000
 
	

03/19/14
 	

 
 	

04/19/14
 	

 
 	

19,162,240.43
 	

 
 	

9.16748
 	

 
 	

10.000000
 
	

04/19/14
 	

 
 	

05/19/14
 	

 
 	

18,694,122.18
 	

 
 	

9.47573
 	

 
 	

10.000000
 
	

05/19/14
 	

 
 	

06/19/14
 	

 
 	

18,237,314.08
 	

 
 	

9.16748
 	

 
 	

10.000000
 
	

06/19/14
 	

 
 	

07/19/14
 	

 
 	

17,791,544.78
 	

 
 	

9.47573
 	

 
 	

10.000000
 
	

07/19/14
 	

 
 	

08/19/14
 	

 
 	

17,356,549.39
 	

 
 	

9.16749
 	

 
 	

10.000000
 
	

08/19/14
 	

 
 	

09/19/14
 	

 
 	

16,932,069.35
 	

 
 	

9.16749
 	

 
 	

10.000000
 
	

09/19/14
 	

 
 	

10/19/14
 	

 
 	

16,517,852.29
 	

 
 	

9.47574
 	

 
 	

10.000000
 
	

10/19/14
 	

 
 	

11/19/14
 	

 
 	

16,113,651.85
 	

 
 	

9.16749
 	

 
 	

10.000000
 
	

11/19/14
 	

 
 	

12/19/14
 	

 
 	

15,719,227.57
 	

 
 	

9.47574
 	

 
 	

10.000000
 
	

12/19/14
 	

 
 	

01/19/15
 	

 
 	

15,334,344.74
 	

 
 	

9.16749
 	

 
 	

10.000000
 

  Ref
    No. 38409

  

SCHEDULE I

MORTGAGE
  LOAN SCHEDULE

SCHEDULE II

FINAL MATURITY RESERVE SCHEDULE

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	

October 2016
 	
         
 	
        196,450,166.21
 	
         

      	
         
 
	

November 2016
 	

 
 	

193,485,463.55
 	

 
 	

 
 
	

December 2016
 	

 
 	

190,564,553.80
 	

 
 	

 
 
	

January 2017
 	

 
 	

187,686,797.19
 	

 
 	

 
 
	

February 2017
 	

 
 	

184,851,563.26
 	

 
 	

 
 
	

March 2017
 	

 
 	

182,058,230.68
 	

 
 	

 
 
	

April 2017
 	

 
 	

179,306,187.16
 	

 
 	

 
 
	

May 2017
 	

 
 	

176,594,829.31
 	

 
 	

 
 
	

June 2017
 	

 
 	

173,923,562.49
 	

 
 	

 
 
	

July 2017
 	

 
 	

171,291,800.70
 	

 
 	

 
 
	

August 2017
 	

 
 	

168,698,966.46
 	

 
 	

 
 
	

September 2017
 	

 
 	

166,144,490.69
 	

 
 	

 
 
	

October 2017
 	

 
 	

163,627,812.55
 	

 
 	

 
 
	

November 2017
 	

 
 	

161,148,379.38
 	

 
 	

 
 
	

December 2017
 	

 
 	

158,705,646.52
 	

 
 	

 
 
	

January 2018
 	

 
 	

156,299,077.25
 	

 
 	

 
 
	

February 2018
 	

 
 	

153,928,142.64
 	

 
 	

 
 
	

March 2018
 	

 
 	

151,592,321.44
 	

 
 	

 
 
	

April 2018
 	

 
 	

149,291,099.99
 	

 
 	

 
 
	

May 2018
 	

 
 	

147,023,972.08
 	

 
 	

 
 
	

June 2018
 	

 
 	

144,790,438.87
 	

 
 	

 
 
	

July 2018
 	

 
 	

142,590,008.76
 	

 
 	

 
 
	

August 2018
 	

 
 	

140,422,197.31
 	

 
 	

 
 
	

September 2018
 	

 
 	

138,286,527.12
 	

 
 	

 
 
	

October 2018
 	

 
 	

136,182,527.71
 	

 
 	

 
 
	

November 2018
 	

 
 	

134,109,735.46
 	

 
 	

 
 
	

December 2018
 	

 
 	

132,067,693.49
 	

 
 	

 
 
	

January 2019
 	

 
 	

130,055,951.56
 	

 
 	

 
 
	

February 2019
 	

 
 	

128,074,065.97
 	

 
 	

 
 
	

March 2019
 	

 
 	

126,121,599.48
 	

 
 	

 
 
	

April 2019
 	

 
 	

124,198,121.21
 	

 
 	

 
 
	

May 2019
 	

 
 	

122,303,206.55
 	

 
 	

 
 
	

June 2019
 	

 
 	

120,436,437.04
 	

 
 	

 
 
	

July 2019
 	

 
 	

118,597,400.34
 	

 
 	

 
 
	

August 2019
 	

 
 	

116,785,690.10
 	

 
 	

 
 
	

September 2019
 	

 
 	

115,000,905.85
 	

 
 	

 
 
	

October 2019
 	

 
 	

113,242,652.99
 	

 
 	

 
 
	

November 2019
 	

 
 	

111,510,542.64
 	

 
 	

 
 
	

December 2019
 	

 
 	

109,804,191.57
 	

 
 	

 
 
	

January 2020
 	

 
 	

108,123,222.15
 	

 
 	

 
 
	

February 2020
 	

 
 	

106,467,262.21
 	

 
 	

 
 

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	
        March
          2020

      	
         
 	
        104,835,945.02
 	
         

      	
         
 
	

April 2020
 	

 
 	

103,228,909.20
 	

 
 	

 
 
	

May 2020
 	

 
 	

101,645,798.59
 	

 
 	

 
 
	

June 2020
 	

 
 	

100,086,262.25
 	

 
 	

 
 
	

July 2020
 	

 
 	

98,549,954.33
 	

 
 	

 
 
	

August 2020
 	

 
 	

97,036,534.01
 	

 
 	

 
 
	

September 2020
 	

 
 	

95,545,665.45
 	

 
 	

 
 
	

October 2020
 	

 
 	

94,077,017.68
 	

 
 	

 
 
	

November 2020
 	

 
 	

92,630,264.56
 	

 
 	

 
 
	

December 2020
 	

 
 	

91,205,084.70
 	

 
 	

 
 
	

January 2021
 	

 
 	

89,801,161.37
 	

 
 	

 
 
	

February 2021
 	

 
 	

88,418,182.49
 	

 
 	

 
 
	

March 2021
 	

 
 	

87,055,840.48
 	

 
 	

 
 
	

April 2021
 	

 
 	

85,713,832.27
 	

 
 	

 
 
	

May 2021
 	

 
 	

84,391,859.20
 	

 
 	

 
 
	

June 2021
 	

 
 	

83,089,626.94
 	

 
 	

 
 
	

July 2021
 	

 
 	

81,806,845.48
 	

 
 	

 
 
	

August 2021
 	

 
 	

80,543,229.01
 	

 
 	

 
 
	

September 2021
 	

 
 	

79,298,495.90
 	

 
 	

 
 
	

October 2021
 	

 
 	

78,072,368.59
 	

 
 	

 
 
	

November 2021
 	

 
 	

76,864,573.61
 	

 
 	

 
 
	

December 2021
 	

 
 	

75,674,841.45
 	

 
 	

 
 
	

January 2022
 	

 
 	

74,502,906.52
 	

 
 	

 
 
	

February 2022
 	

 
 	

73,348,507.12
 	

 
 	

 
 
	

March 2022
 	

 
 	

72,211,385.36
 	

 
 	

 
 
	

April 2022
 	

 
 	

71,091,287.09
 	

 
 	

 
 
	

May 2022
 	

 
 	

69,987,961.89
 	

 
 	

 
 
	

June 2022
 	

 
 	

68,901,162.97
 	

 
 	

 
 
	

July 2022
 	

 
 	

67,830,647.15
 	

 
 	

 
 
	

August 2022
 	

 
 	

66,776,174.79
 	

 
 	

 
 
	

September 2022
 	

 
 	

65,737,509.76
 	

 
 	

 
 
	

October 2022
 	

 
 	

64,714,419.34
 	

 
 	

 
 
	

November 2022
 	

 
 	

63,706,674.23
 	

 
 	

 
 
	

December 2022
 	

 
 	

62,714,048.47
 	

 
 	

 
 
	

January 2023
 	

 
 	

61,736,319.40
 	

 
 	

 
 
	

February 2023
 	

 
 	

60,773,267.58
 	

 
 	

 
 
	

March 2023
 	

 
 	

59,824,676.81
 	

 
 	

 
 
	

April 2023
 	

 
 	

58,890,334.02
 	

 
 	

 
 
	

May 2023
 	

 
 	

57,970,029.25
 	

 
 	

 
 
	

June 2023
 	

 
 	

57,063,555.60
 	

 
 	

 
 
	

July 2023
 	

 
 	

56,170,709.22
 	

 
 	

 
 
	

August 2023
 	

 
 	

55,291,289.19
 	

 
 	

 
 
	

September 2023
 	

 
 	

54,425,097.55
 	

 
 	

 
 
	

October 2023
 	

 
 	

53,571,939.22
 	

 
 	

 
 
	

November 2023
 	

 
 	

52,731,621.97
 	

 
 	

 
 

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	

December 2023
 	
         
 	
        51,903,956.38
 	
         

      	
         
 
	

January 2024
 	

 
 	

51,088,755.79
 	

 
 	

 
 
	

February 2024
 	

 
 	

50,285,836.26
 	

 
 	

 
 
	

March 2024
 	

 
 	

49,495,016.55
 	

 
 	

 
 
	

April 2024
 	

 
 	

48,716,118.06
 	

 
 	

 
 
	

May 2024
 	

 
 	

47,948,964.79
 	

 
 	

 
 
	

June 2024
 	

 
 	

47,193,383.31
 	

 
 	

 
 
	

July 2024
 	

 
 	

46,449,202.74
 	

 
 	

 
 
	

August 2024
 	

 
 	

45,716,254.69
 	

 
 	

 
 
	

September 2024
 	

 
 	

44,994,373.22
 	

 
 	

 
 
	

October 2024
 	

 
 	

44,283,394.82
 	

 
 	

 
 
	

November 2024
 	

 
 	

43,583,158.36
 	

 
 	

 
 
	

December 2024
 	

 
 	

42,893,505.10
 	

 
 	

 
 
	

January 2025
 	

 
 	

42,214,278.57
 	

 
 	

 
 
	

February 2025
 	

 
 	

41,545,324.61
 	

 
 	

 
 
	

March 2025
 	

 
 	

40,886,491.33
 	

 
 	

 
 
	

April 2025
 	

 
 	

40,237,629.03
 	

 
 	

 
 
	

May 2025
 	

 
 	

39,598,590.21
 	

 
 	

 
 
	

June 2025
 	

 
 	

38,969,229.54
 	

 
 	

 
 
	

July 2025
 	

 
 	

38,349,403.80
 	

 
 	

 
 
	

August 2025
 	

 
 	

37,738,971.87
 	

 
 	

 
 
	

September 2025
 	

 
 	

37,137,794.68
 	

 
 	

 
 
	

October 2025
 	

 
 	

36,545,735.21
 	

 
 	

 
 
	

November 2025
 	

 
 	

35,962,658.44
 	

 
 	

 
 
	

December 2025
 	

 
 	

35,388,431.33
 	

 
 	

 
 
	

January 2026
 	

 
 	

34,822,922.78
 	

 
 	

 
 
	

February 2026
 	

 
 	

34,266,003.60
 	

 
 	

 
 
	

March 2026
 	

 
 	

33,717,546.51
 	

 
 	

 
 
	

April 2026
 	

 
 	

33,177,426.08
 	

 
 	

 
 
	

May 2026
 	

 
 	

32,645,518.70
 	

 
 	

 
 
	

June 2026
 	

 
 	

32,121,702.62
 	

 
 	

 
 
	

July 2026
 	

 
 	

31,605,857.81
 	

 
 	

 
 
	

August 2026
 	

 
 	

31,097,866.03
 	

 
 	

 
 
	

September 2026
 	

 
 	

30,597,610.78
 	

 
 	

 
 
	

October 2026
 	

 
 	

30,104,977.25
 	

 
 	

 
 
	

November 2026
 	

 
 	

29,619,852.31
 	

 
 	

 
 
	

December 2026
 	

 
 	

29,142,124.50
 	

 
 	

 
 
	

January 2027
 	

 
 	

28,671,683.97
 	

 
 	

 
 
	

February 2027
 	

 
 	

28,208,422.50
 	

 
 	

 
 
	

March 2027
 	

 
 	

27,752,233.45
 	

 
 	

 
 
	

April 2027
 	

 
 	

27,303,011.74
 	

 
 	

 
 
	

May 2027
 	

 
 	

26,860,653.83
 	

 
 	

 
 
	

June 2027
 	

 
 	

26,425,057.70
 	

 
 	

 
 
	

July 2027
 	

 
 	

25,996,122.82
 	

 
 	

 
 
	

August 2027
 	

 
 	

25,573,750.14
 	

 
 	

 
 

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	

September 2027
 	
         
 	
        25,157,842.06
 	
         

      	
         
 
	

October 2027
 	

 
 	

24,748,302.41
 	

 
 	

 
 
	

November 2027
 	

 
 	

24,345,036.42
 	

 
 	

 
 
	

December 2027
 	

 
 	

23,947,950.74
 	

 
 	

 
 
	

January 2028
 	

 
 	

23,556,953.35
 	

 
 	

 
 
	

February 2028
 	

 
 	

23,171,953.61
 	

 
 	

 
 
	

March 2028
 	

 
 	

22,792,862.19
 	

 
 	

 
 
	

April 2028
 	

 
 	

22,419,591.09
 	

 
 	

 
 
	

May 2028
 	

 
 	

22,052,053.58
 	

 
 	

 
 
	

June 2028
 	

 
 	

21,690,164.22
 	

 
 	

 
 
	

July 2028
 	

 
 	

21,333,838.81
 	

 
 	

 
 
	

August 2028
 	

 
 	

20,982,994.40
 	

 
 	

 
 
	

September 2028
 	

 
 	

20,637,549.24
 	

 
 	

 
 
	

October 2028
 	

 
 	

20,297,422.81
 	

 
 	

 
 
	

November 2028
 	

 
 	

19,962,535.73
 	

 
 	

 
 
	

December 2028
 	

 
 	

19,632,809.83
 	

 
 	

 
 
	

January 2029
 	

 
 	

19,308,168.05
 	

 
 	

 
 
	

February 2029
 	

 
 	

18,988,534.49
 	

 
 	

 
 
	

March 2029
 	

 
 	

18,673,834.34
 	

 
 	

 
 
	

April 2029
 	

 
 	

18,363,993.92
 	

 
 	

 
 
	

May 2029
 	

 
 	

18,058,940.61
 	

 
 	

 
 
	

June 2029
 	

 
 	

17,758,602.87
 	

 
 	

 
 
	

July 2029
 	

 
 	

17,462,910.18
 	

 
 	

 
 
	

August 2029
 	

 
 	

17,171,793.11
 	

 
 	

 
 
	

September 2029
 	

 
 	

16,885,183.20
 	

 
 	

 
 
	

October 2029
 	

 
 	

16,603,013.04
 	

 
 	

 
 
	

November 2029
 	

 
 	

16,325,216.17
 	

 
 	

 
 
	

December 2029
 	

 
 	

16,051,727.13
 	

 
 	

 
 
	

January 2030
 	

 
 	

15,782,481.44
 	

 
 	

 
 
	

February 2030
 	

 
 	

15,517,415.52
 	

 
 	

 
 
	

March 2030
 	

 
 	

15,256,466.78
 	

 
 	

 
 
	

April 2030
 	

 
 	

14,999,573.51
 	

 
 	

 
 
	

May 2030
 	

 
 	

14,746,674.93
 	

 
 	

 
 
	

June 2030
 	

 
 	

14,497,711.15
 	

 
 	

 
 
	

July 2030
 	

 
 	

14,252,623.16
 	

 
 	

 
 
	

August 2030
 	

 
 	

14,011,352.81
 	

 
 	

 
 
	

September 2030
 	

 
 	

13,773,842.83
 	

 
 	

 
 
	

October 2030
 	

 
 	

13,540,036.76
 	

 
 	

 
 
	

November 2030
 	

 
 	

13,309,879.01
 	

 
 	

 
 
	

December 2030
 	

 
 	

13,083,314.78
 	

 
 	

 
 
	

January 2031
 	

 
 	

12,860,290.08
 	

 
 	

 
 
	

February 2031
 	

 
 	

12,640,751.74
 	

 
 	

 
 
	

March 2031
 	

 
 	

12,424,647.34
 	

 
 	

 
 
	

April 2031
 	

 
 	

12,211,925.26
 	

 
 	

 
 
	

May 2031
 	

 
 	

12,002,534.63
 	

 
 	

 
 

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	

June 2031
 	
         
 	
        11,796,425.32
 	
         

      	
         
 
	

July 2031
 	

 
 	

11,593,547.96
 	

 
 	

 
 
	

August 2031
 	

 
 	

11,393,853.90
 	

 
 	

 
 
	

September 2031
 	

 
 	

11,197,295.19
 	

 
 	

 
 
	

October 2031
 	

 
 	

11,003,824.62
 	

 
 	

 
 
	

November 2031
 	

 
 	

10,813,395.65
 	

 
 	

 
 
	

December 2031
 	

 
 	

10,625,962.44
 	

 
 	

 
 
	

January 2032
 	

 
 	

10,441,479.82
 	

 
 	

 
 
	

February 2032
 	

 
 	

10,259,903.29
 	

 
 	

 
 
	

March 2032
 	

 
 	

10,081,189.02
 	

 
 	

 
 
	

April 2032
 	

 
 	

9,905,293.80
 	

 
 	

 
 
	

May 2032
 	

 
 	

9,732,175.07
 	

 
 	

 
 
	

June 2032
 	

 
 	

9,561,790.92
 	

 
 	

 
 
	

July 2032
 	

 
 	

9,394,100.02
 	

 
 	

 
 
	

August 2032
 	

 
 	

9,229,061.69
 	

 
 	

 
 
	

September 2032
 	

 
 	

9,066,635.83
 	

 
 	

 
 
	

October 2032
 	

 
 	

8,906,782.92
 	

 
 	

 
 
	

November 2032
 	

 
 	

8,749,464.06
 	

 
 	

 
 
	

December 2032
 	

 
 	

8,594,640.89
 	

 
 	

 
 
	

January 2033
 	

 
 	

8,442,275.64
 	

 
 	

 
 
	

February 2033
 	

 
 	

8,292,331.09
 	

 
 	

 
 
	

March 2033
 	

 
 	

8,144,770.58
 	

 
 	

 
 
	

April 2033
 	

 
 	

7,999,557.98
 	

 
 	

 
 
	

May 2033
 	

 
 	

7,856,657.70
 	

 
 	

 
 
	

June 2033
 	

 
 	

7,716,034.67
 	

 
 	

 
 
	

July 2033
 	

 
 	

7,577,654.35
 	

 
 	

 
 
	

August 2033
 	

 
 	

7,441,482.71
 	

 
 	

 
 
	

September 2033
 	

 
 	

7,307,486.23
 	

 
 	

 
 
	

October 2033
 	

 
 	

7,175,631.86
 	

 
 	

 
 
	

November 2033
 	

 
 	

7,045,887.07
 	

 
 	

 
 
	

December 2033
 	

 
 	

6,918,219.79
 	

 
 	

 
 
	

January 2034
 	

 
 	

6,792,598.45
 	

 
 	

 
 
	

February 2034
 	

 
 	

6,668,991.93
 	

 
 	

 
 
	

March 2034
 	

 
 	

6,547,369.56
 	

 
 	

 
 
	

April 2034
 	

 
 	

6,427,701.16
 	

 
 	

 
 
	

May 2034
 	

 
 	

6,309,956.96
 	

 
 	

 
 
	

June 2034
 	

 
 	

6,194,107.66
 	

 
 	

 
 
	

July 2034
 	

 
 	

6,080,124.39
 	

 
 	

 
 
	

August 2034
 	

 
 	

5,967,978.69
 	

 
 	

 
 
	

September 2034
 	

 
 	

5,857,642.54
 	

 
 	

 
 
	

October 2034
 	

 
 	

5,749,088.33
 	

 
 	

 
 
	

November 2034
 	

 
 	

5,642,288.86
 	

 
 	

 
 
	

December 2034
 	

 
 	

5,537,217.35
 	

 
 	

 
 
	

January 2035
 	

 
 	

5,433,847.38
 	

 
 	

 
 
	

February 2035
 	

 
 	

5,332,152.97
 	

 
 	

 
 

 

  	

Distribution Date:
 	
         
 	

Aggregate Principal Balance ($):
 	
         
 
	

 	
         
 	

 	
         
 
	

March 2035
 	
         
 	
        5,232,108.48
 	
         

      	
         
 
	

April 2035
 	

 
 	

5,133,688.69
 	

 
 	

 
 
	

May 2035
 	

 
 	

5,036,868.74
 	

 
 	

 
 
	

June 2035
 	

 
 	

4,941,624.12
 	

 
 	

 
 
	

July 2035
 	

 
 	

4,847,930.72
 	

 
 	

 
 
	

August 2035
 	

 
 	

4,755,764.77
 	

 
 	

 
 
	

September 2035
 	

 
 	

4,665,102.85
 	

 
 	

 
 
	

October 2035
 	

 
 	

4,575,921.90
 	

 
 	

 
 
	

November 2035
 	

 
 	

4,488,199.19
 	

 
 	

 
 
	

December 2035
 	

 
 	

4,401,912.34
 	

 
 	

 
 
	

January 2036
 	

 
 	

4,317,039.30
 	

 
 	

 
 
	

February 2036
 	

 
 	

4,233,558.35
 	

 
 	

 
 
	

March 2036
 	

 
 	

4,151,448.09
 	

 
 	

 
 
	

April 2036
 	

 
 	

4,070,687.45
 	

 
 	

 
 
	

May 2036
 	

 
 	

3,991,255.65
 	

 
 	

 
 
	

June 2036
 	

 
 	

3,913,132.25
 	

 
 	

 
 
	

July 2036
 	

 
 	

3,836,297.08
 	

 
 	

 
 
	

August 2036
 	

 
 	

3,760,730.32
 	

 
 	

 
 
	

September 2036
 	

 
 	

3,686,412.39
 	

 
 	

 
 
	

October 2036
 	

 
 	

3,613,324.04
 	

 
 	

 
 
	

November 2036
 	

 
 	

3,541,446.30
 	

 
 	

 
 
	

December 2036
 	

 
 	

0.00
 	

 
 	

 
 

EXHIBIT Y

CERTIFICATE INSURANCE POLICY

Y-1

 

CERTIFICATE GUARANTY INSURANCE POLICY ENDORSEMENT

 

	

Attached to and forming part of
 Certificate Guaranty Insurance Policy #AB1037BE issued to:
 	

Effective Date of Endorsement:
 October 4, 2006
 

Deutsche Bank National Trust Company

as Trustee for the Holders of

HarborView Mortgage Loan Trust, Mortgage 

Loan Pass-Through Certificates, Series 2006-9,

Class 2A-1C2 Certificates.

For all purposes of this Policy, the following terms shall have the following meanings:

“Agreement” shall mean, for purposes of the Policy, the Pooling Agreement. 

“Business Day”: Any day other than a Saturday, a Sunday or a day on which banking or savings and loan institutions in the State of California, the State of New York or the city in which the Corporate Trust Office of the Trustee is located, are authorized or obligated by law or executive order to be closed.

“Certificate Insurer” shall mean Ambac Assurance Corporation, or any successor thereto, as issuer of this Policy.

“Class 2A-1C2 Certificates” shall mean HarborView Mortgage Loan Trust, Mortgage Loan Pass-Through Certificates, Series 2006-9, Class 2A-1C2 Certificates, substantially in the form set forth in Exhibit A to the Agreement.

“Deficiency Amount” shall mean (a) for any Distribution Date prior to the Final Distribution Date, the sum of (1) the excess, if any, of the Monthly Interest Distributable Amount on the Insured Certificates net of any net interest shortfalls, Basis Risk Shortfalls or net deferred interest over the amount of Available Funds to such net amount on the Insured Certificates on such Distribution Date, and (2) the amount, if any, of any Realized Losses allocable to the Insured Certificates on such Distribution Date (after giving effect to all distributions to be made thereon on such Distribution Date, other than pursuant to a claim on the Policy) and (b) for the Final Distribution Date, the sum of (x) the amount set forth in clause (a)(1) above and (y) the outstanding Certificate Principal Balance of the Insured Certificates, after giving effect to all payments of principal
on the Insured Certificates on such Final Distribution Date, other than pursuant to a claim on the Policy on that Distribution Date. 

“Distribution Date”: The 19th day of any month, or if such 19th day is not a Business Day, the Business Day immediately following such 19th day, commencing in October 2006.

“Due for Payment” shall mean with respect to an Insured Amount, the Distribution Date on which Insured Amounts are due and payable pursuant to the terms of the Agreement.

“Final Distribution Date” shall mean the Distribution Date occurring in December 2037.

“First Distribution Date” shall mean October 19, 2006.

“Holder” shall mean the registered owner or beneficial owner of an Insured Certificate, but shall not include the Trustee, the Seller, the Depositor, or any of their respective affiliates; Greenwich Capital Markets, Inc., however, may be a Holder.

“Insured Amounts” shall mean, with respect to any Distribution Date, the Deficiency Amount for such Distribution Date.

“Insured Certificates” shall mean the Class 2A-1C2 Certificates.

“Insured Payments” shall mean, with respect to any Distribution Date, the aggregate amount actually paid by the Certificate Insurer to the Trustee in respect of (i) Insured Amounts for a Distribution Date and (ii) Preference Amounts for any given Business Day. 

“Late
  Payment Rate” shall mean for any Distribution Date, the lesser of (i) the
  greater of (a) the rate of interest, as it is publicly announced by Citibank,
  N.A. at its principal office in New York, New York as its prime rate (any change
  in such prime rate of interest to be effective on the date such change is announced
  by Citibank, N.A.) plus 2% and (b) the then applicable highest rate of
  interest on the Insured Certificates and (ii) the maximum rate permissible under
  applicable usury or similar laws limiting interest rates. The Late Payment Rate
  shall be computed on the basis of the actual number of days elapsed over a year
  of 360 days. 

“Nonpayment” shall mean, with respect to any Distribution Date, an Insured Amount is Due for Payment but has not been paid pursuant to the Agreement. 

“Notice” shall mean the telephonic or telegraphic notice, promptly confirmed in writing by facsimile substantially in the form of Exhibit A to this Policy, from the Trustee specifying the Insured Amount or Preference Amount which shall be due and owing on the applicable Distribution Date.

“Policy” shall mean the Certificate Guaranty Insurance Policy together with each and every endorsement thereto. 

“Pooling Agreement” shall mean the Pooling and Servicing Agreement, dated September 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee, as such agreement may be amended, modified or supplemented from time to time.

“Preference Amount” shall mean any payment of principal or interest on an Insured Certificate which has become Due for Payment and which is made to a Holder by or on behalf of the Trust, which has been deemed a preferential transfer and was previously recovered from the Holder pursuant to the United States Bankruptcy Code in accordance with a final, non-appealable order of a court of competent jurisdiction.

2

“Premium” shall mean the amount payable to the Certificate Insurer on each Distribution Date calculated at the Premium Percentage.

“Premium Percentage” shall mean 0.08% per annum.

“Reimbursement
  Amount” shall mean, as to any Distribution Date, the sum of (x) (i) all
  Insured Payments paid by the Certificate Insurer, but for which the Certificate
  Insurer has not been reimbursed prior to such Distribution Date pursuant to
  Section 5.01 of the Agreement, plus (ii) interest accrued on such Insured
  Payments not previously repaid, calculated at the related Late Payment Rate
  from the date the Trustee received the related Insured Payments or the date
  such Insured Payments were made, and (y) without duplication (i) any amounts
  then due and owing to the Certificate Insurer under the Agreement, as certified
  to the Trustee by the Certificate Insurer plus (ii) interest on such
  amounts at the related Late Payment Rate.

“Trustee” shall mean Deutsche Bank National Trust Company or its successor-in-interest, in its capacity as Trustee under the Agreement, or if any successor trustee shall be appointed as provided therein, then “Trustee” shall also mean such successor trustee, as the case may be, subject to the provisions thereof.

Capitalized terms used herein as defined terms and not otherwise defined herein shall have the meaning assigned to them in the Agreement, without regard to any amendment or modification thereof, unless such amendment or modification has been approved in writing by the Certificate Insurer.

Notwithstanding
  any other provision of the Policy, the Certificate Insurer will pay any Insured
  Amount payable hereunder no later than 12:00 noon, New York City time, on the
  later of (i) the Distribution Date on which the related Insured Amount is Due
  for Payment and (ii) the second Business Day following receipt in New York,
  New York on a Business Day by the Certificate Insurer of a Notice; provided
  that, if such Notice is received after 12:00 noon, New York City time,
  on such Business Day, it shall be deemed to be received on the following Business
  Day. If any such Notice is not in proper form or is otherwise insufficient for
  the purpose of making a claim under the Policy, it shall be deemed not to have
  been received for purposes of this paragraph, and the Certificate Insurer shall
  promptly so advise the Trustee and the Trustee may submit an amended or corrected
  Notice.

The
  Certificate Insurer shall pay any Preference Amount when due to be paid pursuant
  to the Order referred to below, but in any event no earlier than the third Business
  Day following receipt by the Certificate Insurer of (i) a certified copy of
  a final, non-appealable order of a court or other body exercising jurisdiction
  in such insolvency proceeding to the effect that the Trustee or Holder, as applicable,
  is required to return such Preference Amount paid during the term of this Policy
  because such payments were avoided as a preferential transfer or otherwise rescinded
  or required to be restored by the Trustee or Holder (the “Order”),
  (ii) a notice by or on behalf of the Trustee or Holder that the Order has been
  entered and is not subject to any stay, (iii) an assignment, in form and substance
  satisfactory to the Certificate Insurer, duly executed and delivered by the
  Trustee or Holder, as applicable, irrevocably assigning to the Certificate Insurer
  all rights and claims of the Trustee or Holder relating to or arising under
  the Agreement against the estate of the Trust or otherwise with respect to such
  Preference Amount and (iv) a Notice (in the
  form attached hereto as Exhibit A) appropriately completed and executed by the
  Trustee; provided, that if such documents are received after 12:00 noon, New
  York City time, on such Business Day, they will be deemed to be received on
  the following Business Day; provided, further, that the Certificate Insurer
  shall not be obligated to make any payment in respect of any Preference Amount
  representing a payment of principal on the Insured Certificates prior to the
  time the Certificate Insurer would have been required to make a payment in respect
  of such principal pursuant to the first paragraph of the Policy. Such payment
  shall be disbursed to the receiver, conservator, debtor-in-possession or trustee
  in bankruptcy named in the Order, and not to the Holder directly, unless the
  Holder has made a payment of the Preference Amount to the court or such receiver,
  conservator, debtor-in-possession or trustee in bankruptcy named in the Order,
  in which case the Certificate Insurer will pay the Holder, subject to the delivery
  of (a) the items referred to in clauses (i), (ii), (iii) and (iv) above to the
  Certificate Insurer and (b) evidence satisfactory to the Certificate Insurer
  that payment has been made to such court or receiver, conservator, debtor-in-possession
  or trustee in bankruptcy named in the Order. 

3

The Certificate Insurer shall be subrogated to the rights of each Holder to the extent of any payment by the Certificate Insurer under the Policy.

The Certificate Insurer hereby agrees that if it shall be subrogated to the rights of Holders by virtue of any payment under this Policy, no recovery of such payment will occur unless the full amount of the Holders’ allocable distributions for such Distribution Date can be made. In so doing, the Certificate Insurer does not waive its rights to seek full payment of all Reimbursement Amounts owed to it hereunder or under the Agreement. 

The Policy does not cover Basis Risk Shortfalls, Deferred Interest, Net Deferred Interest or Net Interest Shortfalls allocated to the Insured Certificates, nor does the Policy guarantee to the Holders of the Insured Certificates any particular rate of principal payment. In addition, the Policy does not cover shortfalls, if any, attributable to the liability of the Trust, any REMIC or the Trustee for withholding taxes, if any, (including interest and penalties in respect of any liability for withholding taxes) nor any risk other than Nonpayment, including the failure of the Trustee or Paying Agent to make any payment required under the Agreement to the Holders of the Insured Certificates. The Policy will not cover any reduction in the amount of current interest payable to the holders of the Insured Certificates on any Distribution Date due to the pass-through rate for the
Insured Certificates exceeding the adjusted cap rate for the Insured Certificates on such Distribution Date.

The terms and provisions of the Agreement constitute the instrument of assignment referred to in the second paragraph of the face of this Policy.

A premium will be payable on this Policy on each Distribution Date as provided in Section 5.01 of the Agreement, beginning with the First Distribution Date, in an amount equal to the Premium.

IN THE EVENT THAT AMBAC ASSURANCE CORPORATION WERE TO BECOME INSOLVENT, ANY CLAIMS ARISING UNDER THE POLICY WOULD BE EXCLUDED FROM COVERAGE BY THE CALIFORNIA INSURANCE GUARANTY ASSOCIATION.

4

Nothing herein contained shall be held to vary, alter, waive or extend any of the terms, conditions, provisions, agreements or limitations of the above mentioned Policy other than as above stated.

To the extent the provisions of this endorsement conflict with the provisions in the above-mentioned Policy, the provisions of this endorsement shall govern.

The Policy and the obligations of the Certificate Insurer thereunder will terminate without any action on the part of the Certificate Insurer or any other person on the date that is one year and one day following the earlier to occur of (i) the date on which all amounts required to be paid on the Insured Certificates have been paid in full and (ii) the Final Distribution Date. Upon termination of the Policy, the Trustee shall deliver the original of the Policy to the Certificate Insurer.

No person other than the Trustee shall be entitled to present the Notice.

No waiver of any rights or powers of the Certificate Insurer, the Holders or the Trustee or consent by any of them shall be valid unless signed by an authorized officer or agent thereof.

This Policy is issued under and pursuant to, and shall be construed in accordance with, the laws of the State of New York, without giving effect to the conflict of laws principles thereof.

The Certificate Insurer’s obligations under the Policy will be discharged to the extent that funds are received by the Trustee for payment to the holders of the Insured Certificates whether or not those funds are properly paid by the Trustee. Payments of Insured Amounts will be made only at the time set forth in the Policy, and no accelerated payments of Insured Amounts will be made regardless of any acceleration of the Insured Certificates, unless the acceleration is at the sole option of the Certificate Insurer.

5

IN WITNESS WHEREOF, Ambac Assurance Corporation has caused this endorsement to the Policy to be signed by its duly authorized officers

 

	

 
 	

 
 	

 
 	

 
 	

 
 
	

 

  
 	

 
 	

 
 	

  
 
	

        

      	

 
 	

 
 	

 
	

Assistant Secretary
 	

 
 	

 
 	

Managing Director
 

EXHIBIT A

TO THE CERTIFICATE GUARANTY INSURANCE POLICY

Policy No. AB1037BE

NOTICE
  OF NONPAYMENT AND DEMAND

FOR
  PAYMENT OF INSURED AMOUNTS AND PREFERENCE AMOUNTS

	
         

      	
        Date:
          [                  ]

      

Ambac Assurance Corporation

One State Street Plaza

New York, New York 10004

Attention: General Counsel

Reference is made to Certificate Guaranty Insurance Policy No. AB1037BE (the “Policy”) issued by Ambac Assurance Corporation (“Ambac”). Terms capitalized herein and not otherwise defined shall have the meanings specified in the Policy and the Agreement, dated as of August 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc., as Seller and Deutsche Bank National Trust Company, as Trustee, as the case may be, unless the context otherwise requires. 

The Trustee hereby certifies as follows:

	

 
 	

1.
 	

The Trustee is the Trustee under the Agreement for the Holders.
 

	

 
 	

2.
 	

The relevant Distribution Date is [date]. 
 

	

 
 	

3.
 	

Payment on the Insured Certificates in respect of the Distribution Date is due to be received on _________________________ under the Agreement in an amount equal to $_________. 
 

	

 
 	

4.
 	

[There is an Insured Amount of $______________ in respect of the Class Class 2A-1C2 Certificates, which amount is Due for Payment pursuant to the terms of the Agreement.]
 

[There is a Preference Amount of $______________ in respect of the Class 2A-1C2 Certificates, which is due and payable pursuant to the terms of the Agreement.]

	

 
 	

5.
 	

The Trustee has not heretofore made a demand for the [Insured Amount] [Preference Amount] in respect of the Distribution Date. 
 

	

 
 	

6.
 	

The Trustee hereby requests the payment of the [Insured Amount that is Due For Payment] [Preference Amount] be made by Ambac under the Policy and directs that payment under the Policy be made to the following account by bank wire transfer of federal or other immediately available funds in accordance with the terms of the Policy to: ______________________________ (Trustee’s account number).
 

A-1

	

 
 	

7.
 	

The Trustee hereby agrees that, following receipt of the [Insured Amount] [Preference Amount] from Ambac, it shall (a) hold such amounts in trust and apply the same directly to the distribution of payment on the Class 2A-1B Certificates when due; (b) not apply such funds for any other purpose; (c) deposit such funds to the Policy Account and not commingle such funds with other funds held by Trustee and (d) maintain an accurate record of such payments with respect to each certificate and the corresponding claim on the Policy and proceeds thereof.
 

For your protection California law requires the following to appear on this form:

Any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison.

 

	

  
 	

 
 	
        By: 
 	
          
 
	
         
 	
         
 	
         
 	
        

 
	
         
 	
         
 	
         
 	
        Trustee
 
	
          
 	
         
 	
        Title: 
 	
          
 
	
         
 	
         
 	
         
 	
        

 
	
         
 	
         
 	
         
 	
        (Officer)
 

A-2

GREENWICH CAPITAL MARKETS, INC.

600 Steamboat Road

Greenwich, CT 06830

October 4, 2006

Ambac Assurance Corporation

One State Street Plaza

New York, New York 10004

Ladies and Gentlemen:

This letter will confirm the understanding between Greenwich Capital Markets, Inc. (the “Company”) and Ambac Assurance Corporation (“Ambac”) regarding certain matters relating to Ambac’s issuance of a certificate guaranty insurance policy (the “Policy”) in connection with the Company’s HarborView Mortgage Loan Trust, Mortgage Loan Pass-Through Certificates, Series 2006-9, approximately $166,727,000 initial Principal Balance, Class 2A-1C2 Certificates, (the “Guaranteed Certificates”). All capitalized terms used but not defined herein shall have the meanings ascribed to them in the prospectus supplement, dated October 3, 2006 (the “Prospectus Supplement”).

1. The Policy will provide for the full and complete payment (a) on each Distribution Date the sum of (i) the excess, if any, of the Monthly Interest Distributable Amount for the Guaranteed Certificates on such Distribution Date, but excluding therefrom any Basis Risk Shortfalls, net deferred interest or net interest shortfalls allocable to the Guaranteed Certificates on such Distribution Date over the amount of Available Funds available to pay such net amount on the Guaranteed Certificates on such Distribution Date and (ii) the amount of any Realized Losses allocable to the Guaranteed Certificates on such Distribution Date (after giving effect to all distributions to be made thereon on such Distribution Date, other than pursuant to a claim on the Policy) and (b) for the Distribution Date occuring in December 2037 the Certificate Principal Balance of the Guaranteed
Certificates to the extent unpaid on such Distribution Date after taking into account all distributions to be made on such date from sources other than the Policy.

2. Ambac will be entitled to be subrogated to the rights of the holders of the Guaranteed Certificates with respect to the amounts for which Ambac has made a payment under the Policy and shall be entitled to reimbursement of any payment made under the Policy in accordance with the priorities set forth in Section 5.01 of the Pooling and Servicing Agreement (as defined below) in an amount equal to the amount of such payments, together with interest on any and all remaining unreimbursed payments at the Late Payment Rate (as defined in the Policy). Ambac shall also be entitled to the assignment of the holders’ rights in conjunction with such payments. Ambac will be entitled to no other amounts either from the Company or holders of the Guaranteed Certificates with respect to payments made under the Policy.

3. Prior to printing the Prospectus Supplement to be used in connection with the offering of the Guaranteed Certificates, Ambac, the Company, Greenwich Capital Financial Products, Inc. and Greenwich Capital Acceptance, Inc. will execute an Indemnification Agreement substantially in the form of Attachment A hereto (the “Indemnification Agreement”). The Company will not be obligated to execute any other agreement with Ambac in connection with the issuance of the Policy, nor provide Ambac with any information, opinions or other documentation not required by this letter, the Pooling Agreement or the Indemnification Agreement (collectively, the “Agreements”).

	

Ambac Assurance Corporation
 	

 
 	

 
 
	

September 30, 2005
 	

 
 	

Page 2
 

4. The Pooling and Servicing Agreement, to be dated as of September 1, 2006 (the “Pooling Agreement”) pursuant to which the Certificates are issued will contain provisions (i) setting forth the mechanism by which Deutsche Bank National Trust Company, as Trustee, will make draws on the Policy, (ii) setting forth the mechanism for the surrender of the Policy upon payment in full of the Guaranteed Certificates, (iii) providing for Ambac’s right to receive the statement sent each Distribution Date to the holders of the Guaranteed Certificates and providing for Ambac’s right to receive from the Trustee, any other reports or statements provided under the Servicing Agreement (as defined in the Pooling Agreement) from Countrywide Home Loans Servicing L.P. to the Trustee, (iv) providing that the Servicer shall designate an officer who shall be available to Ambac to
provide reasonable access to information regarding the Mortgage Loans, (v) providing for the subrogation of Ambac to the rights of the holders of the Guaranteed Certificates for payments made by Ambac on the Policy and the assignment to Ambac of the holders’ rights in conjunction with such payment, (vi) providing for the payment of Ambac’s monthly premium in arrears from the trust estate in an amount equal to the product of (1) the product of (a) 8 basis points (0.08%) per annum and (b) a fraction, expressed as a percentage, the numerator of which is the actual number of days elapsed since the prior Distribution Date (for the first Distribution Date, from the Closing Date) and the denominator of which is 360 (the “Monthly Premium Rate”) and (2) the principal balance of the Guaranteed Certificates immediately prior to such Distribution Date and (vii) providing that any amendment which may adversely effect Ambac will require the prior consent of Ambac. It shall be a
condition to the issuance of the Policy that the provisions of the Agreements relating to the above matters shall be satisfactory to Ambac. Ambac shall not unreasonably request any other changes to the Agreements as a condition to Ambac’s issuance of the Policy.

5. Ambac will provide to the Company an opinion of counsel, dated October 4, 2006, which may be an opinion of in-house counsel to Ambac, substantially in the form attached as Attachment B hereto.

6. The Company shall not be obligated to place Ambac’s name or logo on the front cover of the Prospectus Supplement and shall not put Ambac’s logo on the front cover without the prior consent of Ambac.

7. The Company shall not be personally responsible for paying any premium for the Policy (such payments to be made solely pursuant to the provisions of the Pooling Agreement referred to in paragraph 4 above), nor any other fees or expenses of Ambac, including any fees or expenses of counsel or accountants for Ambac, incurred in connection with the issuance of the Policy; provided, however, that it is a condition to the issuance of the Policy that Ambac shall be paid $25,800 for expenses in respect of the Policy at the closing in cash or available funds (which amounts due Ambac shall not be satisfied from any amounts paid Ambac in respect of any other financial guaranty insurance policy). Such payment of expenses will be made by the Company.

	

Ambac Assurance Corporation
 	

 
 	

 
 
	

September 30, 2005
 	

 
 	

Page 3
 

8. It shall be a condition to the issuance of the Policy that Ambac shall have received oral confirmation from the rating agencies that the Guaranteed Certificates would have been rated “AAA” by Standard and Poor’s Ratings Service, a division of the McGraw-Hill Companies (“S&P”) and “Aaa” by Moody’s Investors Service, Inc. (“Moody’s”), without the issuance of the Policy. Ambac will use its best efforts and shall be solely responsible for providing such documentation and other information to S&P and Moody’s and taking such other steps as are necessary to obtain the foregoing oral confirmation from S&P and Moody’s, without cost to the Company.

9. The Company is obligated to pay all rating agency fees of S&P and Moody’s.

10. Ambac shall be entitled to receive one complete set of closing documents.

11. It shall be a condition to the issuance of the Policy that the description of Ambac and the Policy set forth under the captions “The Certificate Insurer” and “Description of the Certificates - The Certificate Insurance Policy” in the Prospectus Supplement be satisfactory to Ambac; provided, however, that the execution by Ambac of the Indemnification Agreement shall mean such descriptions set forth under the captions “The Certificate Insurer” and “Description of the Certificates - The Certificate Insurance Policy” as they appear in the Prospectus Supplement are satisfactory to Ambac.

12. In the event that the Policy has not been issued by Ambac on or prior to October 4, 2006, as a result of the failure to occur of any condition to the issuance of the Policy, Ambac shall not be obligated to issue such Policy.

If the foregoing is in accordance with your understanding, please execute the enclosed copy of this letter and return it to Vinu Phillips, Greenwich Capital Markets, Inc., 600 Steamboat Road, Greenwich, CT 06830.

 

	

 
 	

 
 	

GREENWICH CAPITAL MARKETS, INC.
 
	

  
 	

 
 	

By: 
 	

  
 
	
         
 	
         
 	
         
 	
        

 
	
         
 	
         
 	
        Name:
 	
         
 
	
         
 	
         
 	
        Title:
 	
         
 

 

  	
        Accepted
          and Agreed:

      	
         

      	
         

      	
         

      
	
        AMBAC
          ASSURANCE CORPORATION

      	
         

      	
         

      	
         

      
	
        By: 

      	
        
        

      	
         

      	
         

      	
        
        

      
	
         

      	
        
        

      	
         

      	
         

      	
        
      

	
        Name:

      	
         

      	
         

      	
         

      	
         

      
	
        Title:

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