Document:

GREENWICH
      CAPITAL ACCEPTANCE, INC.,

    Depositor

      

    GREENWICH
      CAPITAL FINANCIAL PRODUCTS, INC.,

    Seller

    
 

    CLAYTON
      FIXED INCOME SERVICES INC.,

    Credit
      Risk Manager

    
 

    and

     

    DEUTSCHE
      BANK NATIONAL TRUST COMPANY,

    Trustee

    
    

    POOLING
      AND SERVICING AGREEMENT

    Dated
      as
      of October 1, 2006

     

      
        

      

    

    
HarborView
      Mortgage Loan Trust

    Mortgage
      Loan Pass-Through Certificates, Series 2006-SB1

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Table
      of Contents

    
      

        
          	
                  ARTICLE
                    I DEFINITIONS; DECLARATION OF TRUST

                	
                  4

                
	 	 
	
                  SECTION
                    1.01. Defined Terms.

                	
                  4

                
	
                  SECTION
                    1.02. Accounting.

                	
                  47

                
	 	 
	
                  ARTICLE
                    II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
                    CERTIFICATES

                	
                  47

                
	 	 
	
                  SECTION
                    2.01. Conveyance of Mortgage Loans.

                	
                  47

                
	
                  SECTION
                    2.02. Acceptance by Trustee.

                	
                  52

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

                	
                  53

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

                	
                  57

                
	
                  SECTION
                    2.05. Back-up of Originator Representations and
                    Warranties.

                	
                  58

                
	
                  SECTION
                    2.06. Representations and Warranties of the Depositor.

                	
                  58

                
	
                  SECTION
                    2.07. Issuance of Certificates.

                	
                  60

                
	
                  SECTION
                    2.08. Representations and Warranties of the Seller.

                	
                  60

                
	
                  SECTION
                    2.09. Covenants of the Seller.

                	
                  62

                
	 	 
	
                  ARTICLE
                    III ADMINISTRATION OF THE MORTGAGE LOANS; CREDIT RISK
                    MANAGER

                	
                  62

                
	 	 
	
                  SECTION
                    3.01. Servicing of the Mortgage Loans.

                	
                  62

                
	
                  SECTION
                    3.02. REMIC-Related Covenants.

                	
                  62

                
	
                  SECTION
                    3.03. Release of Mortgage Files.

                	
                  63

                
	
                  SECTION
                    3.04. Assessments of Compliance and Attestation Reports.

                	
                  64

                
	
                  SECTION
                    3.05. Enforcement of Regulation AB Deliverables.

                	
                  66

                
	
                  SECTION
                    3.06. Sarbanes-Oxley Certification.

                	
                  66

                
	
                  SECTION
                    3.07. Reports Filed with Securities and Exchange
                    Commission.

                	
                  66

                
	
                  SECTION
                    3.08. Additional Information.

                	
                  72

                
	
                  SECTION
                    3.09. Intention of the Parties and Interpretation.

                	
                  72

                
	
                  SECTION
                    3.10. Indemnification by the Trustee.

                	
                  73

                
	
                  SECTION
                    3.11. [Reserved].

                	
                  73

                
	
                  SECTION
                    3.12. Reporting Requirements of the Commission.

                	
                  73

                
	
                  SECTION
                    3.13. Duties of the Credit Risk Manager.

                	
                  74

                
	
                  SECTION
                    3.14. Limitation Upon Liability of the Credit Risk
                    Manager.

                	
                  76

                
	
                  SECTION
                    3.15. Indemnification by the Credit Risk Manager.

                	
                  76

                
	
                  SECTION
                    3.16. Removal of Credit Risk Manager.

                	
                  76

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                  ARTICLE
                    IV ACCOUNTS

                	
                  76

                
	 	 
	
                  SECTION
                    4.01. Servicing Accounts.

                	
                  76

                
	
                  SECTION
                    4.02. Distribution Account.

                	
                  78

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

                	
                  79

                
	
                  SECTION
                    4.04. [Reserved].

                	
                  81

                
	
                  SECTION
                    4.05. [Reserved].

                	
                  81

                
	 	 
	
                  ARTICLE
                    V FLOW OF FUNDS

                	
                  81

                
	 	 
	
                  SECTION
                    5.01. Distributions.

                	
                  81

                
	
                  SECTION
                    5.02. Allocation of Net Deferred Interest.

                	
                  88

                
	
                  SECTION
                    5.03. Allocation of Realized Losses.

                	
                  88

                
	
                  SECTION
                    5.04. Statements.

                	
                  89

                
	
                  SECTION
                    5.05. Remittance Reports; Advances.

                	
                  92

                
	
                  SECTION
                    5.06. Compensating Interest Payments.

                	
                  93

                
	
                  SECTION
                    5.07. Basis Risk Reserve Fund.

                	
                  93

                
	
                  SECTION
                    5.08. Recoveries.

                	
                  94

                
	
                  SECTION
                    5.09. The Final Maturity Reserve Trust.

                	
                  94

                
	
                  SECTION
                    5.10. Yield Maintenance Agreement.

                	
                  95

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

                	
                  95

                
	
                  SECTION
                    5.12. Yield Maintenance Account.

                	
                  97

                
	 	 
	
                  ARTICLE
                    VI THE CERTIFICATES

                	
                  98

                
	 	 
	
                  SECTION
                    6.01. The Certificates.

                	
                  98

                
	
                  SECTION
                    6.02. Registration of Transfer and Exchange of
                    Certificates.

                	
                  99

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

                	
                  106

                
	
                  SECTION
                    6.04. Persons Deemed Owners.

                	
                  107

                
	
                  SECTION
                    6.05. Appointment of Paying Agent.

                	
                  107

                
	 	 
	
                  ARTICLE
                    VII DEFAULT

                	
                  108

                
	 	 
	
                  SECTION
                    7.01. Event of Default.

                	
                  108

                
	
                  SECTION
                    7.02. Trustee to Act.

                	
                  108

                
	
                  SECTION
                    7.03. Waiver of Event of Default.

                	
                  109

                
	
                  SECTION
                    7.04. Notification to Certificateholders.

                	
                  109

                
	 	 
	
                  ARTICLE
                    VIII THE TRUSTEE

                	
                  110

                
	 	 
	
                  SECTION
                    8.01. Duties of the Trustee.

                	
                  110

                
	
                  SECTION
                    8.02. Certain Matters Affecting the Trustee.

                	
                  112

                
	
                  SECTION
                    8.03. Trustee Not Liable for Certificates or Mortgage
                    Loans.

                	
                  113

                
	
                  SECTION
                    8.04. Trustee and Custodian May Own Certificates.

                	
                  114

                
	
                  SECTION
                    8.05. Trustee’s Fees and Expenses.

                	
                  114

                
	
                  SECTION
                    8.06. Eligibility Requirements for Trustee.

                	
                  115

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                  SECTION
                    8.07. Resignation or Removal of Trustee.

                	
                  115

                
	
                  SECTION
                    8.08. Successor Trustee.

                	
                  116

                
	
                  SECTION
                    8.09. Merger or Consolidation of Trustee.

                	
                  116

                
	
                  SECTION
                    8.10. Appointment of Co-Trustee or Separate Trustee.

                	
                  117

                
	
                  SECTION
                    8.11. Limitation of Liability.

                	
                  118

                
	
                  SECTION
                    8.12. Trustee May Enforce Claims Without Possession of
                    Certificates.

                	
                  118

                
	
                  SECTION
                    8.13. Suits for Enforcement.

                	
                  118

                
	
                  SECTION
                    8.14. Waiver of Bond Requirement.

                	
                  119

                
	
                  SECTION
                    8.15. Waiver of Inventory, Accounting and Appraisal
                    Requirement.

                	
                  119

                
	
                  SECTION
                    8.16. Appointment of Custodians.

                	
                  119

                
	
                  SECTION
                    8.17. Indemnification.

                	
                  119

                
	
                  SECTION
                    8.18. Limitation of Liability of Trustee and Administrator;
                    Indemnification.

                	
                  120

                
	
                  SECTION
                    8.19. Administrator’s Fees and Expenses.

                	
                  120

                
	
                  SECTION
                    8.20. Resignation or Removal of the Administrator.

                	
                  120

                
	
                  SECTION
                    8.21. Closing Opinion of Counsel.

                	
                  121

                
	 	 
	
                  ARTICLE
                    IX REMIC ADMINISTRATION

                	
                  121

                
	 	 
	
                  SECTION
                    9.01. REMIC Administration.

                	
                  121

                
	
                  SECTION
                    9.02. Prohibited Transactions and Activities.

                	
                  124

                
	 	 
	
                  ARTICLE
                    X TERMINATION

                	
                  124

                
	 	 
	
                  SECTION
                    10.01. Termination.

                	
                  124

                
	
                  SECTION
                    10.02. Additional Termination Requirements.

                	
                  127

                
	
                  SECTION
                    10.03. NIMS Insurer Optional Repurchase Right of Distressed Mortgage
                    Loans.

                	
                  128

                
	 	 
	
                  ARTICLE
                    XI DISPOSITION OF TRUST FUND ASSETS

                	
                  128

                
	 	 
	
                  SECTION
                    11.01. Disposition of Trust Fund Assets.

                	
                  128

                
	 	 
	
                  ARTICLE
                    XII MISCELLANEOUS PROVISIONS

                	
                  128

                
	 	 
	
                  SECTION
                    12.01. Amendment.

                	
                  128

                
	
                  SECTION
                    12.02. Recordation of Agreement; Counterparts.

                	
                  129

                
	
                  SECTION
                    12.03. Limitation on Rights of Certificateholders.

                	
                  130

                
	
                  SECTION
                    12.04. Governing Law; Jurisdiction.

                	
                  131

                
	
                  SECTION
                    12.05. Notices.

                	
                  131

                
	
                  SECTION
                    12.06. Severability of Provisions.

                	
                  131

                
	
                  SECTION
                    12.07. Article and Section References.

                	
                  131

                
	
                  SECTION
                    12.08. Notice to the Rating Agencies.

                	
                  132

                
	
                  SECTION
                    12.09. Further Assurances.

                	
                  133

                
	
                  SECTION
                    12.10. Benefits of Agreement.

                	
                  133

                
	
                  SECTION
                    12.11. Acts of Certificateholders.

                	
                  133

                
	
                  SECTION
                    12.12. Successors and Assigns.

                	
                  134

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

        

         

        
          	
                  SECTION
                    12.13. Provision of Information.

                	
                  134

                
	
                  SECTION
                    12.14. Transfer of Servicing.

                	
                  135

                
	
                  SECTION
                    12.15. Tax Treatment of the Class ES Certificates.

                	
                  135

                

        

      

    

    
 

    
      	
              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
                C-4

            	
              Form
                of Class ES Certificate

            	
              C-4

            
	
              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

            
	
              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

            	
              [Reserved]

            	
              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-1

            	
              Form
                of Watchlist Report

            	
              S-1

            
	
              Exhibit
                S-2

            	
              Form
                of Loss Severity Report

            	
              S-2

            
	
              Exhibit
                S-3

            	
              Form
                of Prepayment Premiums Report

            	
              S-4

            
	
              Exhibit
                S-4

            	
              Form
                of Analytics Report

            	
              S-5

            
	
              Exhibit
                T

            	
              Form
                of Certification to be Provided by the Credit Risk Manager

            	
              T

            
	
              Exhibit
                U

            	
              Additional
                Disclosure Notification

            	
              U

            
	
              Exhibit
                V

            	
              Yield
                Maintenance Allocation Agreement

            	
              V

            
	
              Exhibit
                W

            	
              Yield
                Maintenance Agreement

            	
              W

            
	 	 	 
	 Schedule
              I	Mortgage
              Loan
              Schedule	 
	 Schedule
              II 	Final Maturity
              Reserve Schedule	 

    

    

         

      

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    This
      Pooling and Servicing Agreement is dated as of October 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”),
      CLAYTON FIXED INCOME SERVICES INC., as credit risk manager (the “Credit
      Risk Manager”)
      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-SB1 (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 twelve classes
      of
      certificates, designated as (i) the Class A-1A Certificates, (ii) the Class
      A-1B
      Certificates, (iii) the Class M-1 Certificates, (iv) the Class M-2 Certificates,
      (v) the Class M-3 Certificates, (vi) the Class M-4 Certificates, (vii) the
      Class
      M-5 Certificates, (viii) the Class M-6 Certificates, (ix) the Class M-7
      Certificates, (x) the Class C Certificates, (xi) the Class P Certificates,
      (xii)
      the Class ES Certificates and (xiii) the Class R Certificates.

     

    For
      federal income tax purposes, the Trust Fund (exclusive of the assets held in
      the
      Basis Risk Reserve Fund, the Class ES Distributable Amount, the Yield
      Maintenance Account, 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 and Class ES Certificates, shall represent
      ownership of a regular interest in the Upper-Tier REMIC, as described herein.
      The LIBOR Certificates and
      the
      MTA 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(f). 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 and the Yield Maintenance Account. The Class
      R
      Certificate represents the sole class of residual interest in the Upper-Tier
      REMIC and the Lower-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 Regular Interest in the Lower-Tier
      REMIC:

     

    
      	
               

              Designation

            	 	
               

              Interest
                Rate

            	 	
              Initial
                Principal

              Balance

            	 	
              Corresponding
                Class of Certificate

            	 
	
              LT-A-1A

            	 	 	
              (1)

            	 	
              $

            	
              149,585,000.00

            	 	 	
              A-1A

            	 
	
              LT-A-1B

            	 	 	
              (1)

            	 	
              $

            	
              37,396,500.00

            	 	 	
              A-1B

            	 
	
              LT-M-1

            	 	 	
              (1)

            	 	
              $

            	
              3,937,500.00

            	 	 	
              M-1

            	 
	
              LT-M-2

            	 	 	
              (1)

            	 	
              $

            	
              2,827,000.00

            	 	 	
              M-2

            	 
	
              LT-M-3

            	 	 	
              (1)

            	 	
              $

            	
              1,514,500.00

            	 	 	
              M-3

            	 
	
              LT-M-4

            	 	 	
              (1)

            	 	
              $

            	
              1,514,500.00

            	 	 	
              M-4

            	 
	
              LT-M-5

            	 	 	
              (1)

            	 	
              $

            	
              1,817,500.00

            	 	 	
              M-5

            	 
	
              LT-M-6

            	 	 	
              (1)

            	 	
              $

            	
              1,110,500.00

            	 	 	
              M-6

            	 
	
              LT-M-7

            	 	 	
              (1)

            	 	
              $

            	
              1,211,500.00

            	 	 	
              M-7

            	 
	
              LT-P

            	 	 	
              (1)

            	 	
              $

            	
              50.00

            	 	 	
              P

            	 
	
              LT-Q

            	 	 	
              (1)

            	 	
              $

            	
              202,933,192.23

            	 	 	
              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 November 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.

            

    

     

    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-A-1A, LT-A-1B, LT-M-1, LT-M-2, LT-M-3, LT-M-4, LT-M-5,
                LT-M-6,
                LT-M-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;

            

    

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

    

    

    
      	 	
              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
                A-1A

            	 	
              $

            	
              299,170,000.00

            	 	 	
              (1)

            	 
	
              Class
                A-1B 

            	 	
              $

            	
              74,793,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-1

            	 	
              $

            	
              7,875,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-2

            	 	
              $

            	
              5,654,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-3

            	 	
              $

            	
              3,029,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-4

            	 	
              $

            	
              3,029,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-5

            	 	
              $

            	
              3,635,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-6

            	 	
              $

            	
              2,221,000.00

            	 	 	
              (1)

            	 
	
              Class
                M-7

            	 	
              $

            	
              2,423,000.00

            	 	 	
              (1)

            	 
	
              Class
                C

            	 	 	
              (2)

            	 	 	
              (2)

            	 
	
              Class
                P

            	 	
              $

            	
              100.00

            	 	 	
              (3)

            	 
	
              Class
                R

            	 	 	
              (4)

            	 	 	
              (4)

            	 
	
              Class
                ES

            	 	 	
              (5)

            	 	 	
              (5)

            	 

    

    
      
        

      

    

     

    

      
        	 	
                (1)

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

              

      

       

      
        	 	
                (2)

              	
                The
                  Class C Interest shall have an initial principal balance of $2,018,542.23.
                  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

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (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.

              

      

       

      
        	 	
                (5)

              	
                The
                  Class ES Certificate is entitled to receive the “Class ES Distributable
                  Amount.” The Class ES Certificate does not represent an interest in any
                  REMIC created hereby and does not have a pass-through
                  rate.

              

      

       

      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.

       

      “Account”:
        The
        Distribution Account, the Yield Maintenance Trust Account, the Yield Maintenance
        Account, the Final Maturity Reserve Account, the Basis Risk Reserve Fund
        or the
        Servicing Account, as the context requires.

       

      “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 of LIBOR
        Certificates 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
        the
        MTA Certificates and each Lower-Tier Regular Interest, the calendar month
        preceding such Distribution Date. Interest for such Classes of MTA Certificates
        and 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).

       

      
        
          
          

        

        
          4

          
            

          

        

        
          
          

        

      

      

       

      “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”:
        For
        any Distribution Date and any Class of Regular 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 the Mortgage
        Loans for that Distribution Date multiplied by (ii) 12, divided
        by
        the Pool
        Balance as of the first day of the related Due Period.

       

      “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-A-1A, LT-A-1B, LT-M-1, LT-M-2, LT-M-3, LT-M-4, LT-M-5, LT-M-6,
        and LT-M-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 (if
        the Corresponding Class is a Class of LIBOR Certificates).

       

      “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.

       

      “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.

       

      
        
          
          

        

        
          5

          
            

          

        

        
          
          

        

      

      

       

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

       

      “Allocated
        Net Deferred Interest Amounts”:
        With
        respect to any Distribution Date and any Class of Offered Certificates or
        Class
        M-7 Certificates, an amount equal to the sum of any Net Deferred Interest
        allocated to such Class of Certificates on such Distribution Date and any
        Allocated Net Deferred Interest Amounts for such Class remaining unpaid from
        the
        immediately preceding Distribution Date.

       

      “Allocated
        Realized Loss Amount”:
        With
        respect to any Distribution Date and any Class of Offered Certificates or
        Class
        M-7 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.

       

      “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, 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, (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 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, (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, (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, (f) the aggregate of any Advances made by the Servicer for
        that Distribution Date in respect of the Mortgage Loans, (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 and (h) the Termination Price on the Distribution Date on which the
        Trust Fund is terminated, minus
        (ii) the
        sum of (x) to the extent of amounts attributable to interest, the Expense
        Fees
        for such Distribution Date in respect of the Mortgage Loans, (y) 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
        and
        other amounts as to which the Servicer, the Trustee, the Credit Risk Manager
        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
        this Agreement in respect of Mortgage Loans and (z) amounts deposited in
        the
        Distribution Account, as the case may be, in error, in respect of Mortgage
        Loans.

       

      
        
          
          

        

        
          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 and the MTA
        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.

       

      “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.

       

      
        
          
          

        

        
          7

          
            

          

        

        
          
          

        

      

      

       

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

       

      “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, Class
        ES
        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, the Credit Risk Manager 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
        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)(J) 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
        C Priority Amount”:
        With
        respect to any Distribution Date and the Class C Certificates, the excess,
        if
        any, of (i) all amounts paid on prior Distribution Dates from the Yield
        Maintenance Account in respect of Allocated Net Deferred Interest Amounts
        over
        (ii) the sum of all amounts paid to the Class C Certificates on prior
        Distribution Dates from the Principal Distribution Amount under Sections
        5.02(a)(ii) and (iii).

       

      
        
          
          

        

        
          8

          
            

          

        

        
          
          

        

      

      

       

      “Class
        ES Distributable Amount”:
        With
        respect to each Distribution Date and each Mortgage Loan, an amount equal
        to one
        month’s interest at the Excess Servicing Fee Rate on the Stated Principal
        Balance of such Mortgage Loan as of the Due Date in the month of such
        Distribution Date (prior to giving effect to any Scheduled Payments due on
        such
        Mortgage Loan on such Due Date).

       

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

       

      “Class
        M-1 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution
        Date over (y) the lesser of (A) the product of (i) for each Distribution
        Date
        prior to November 2012, 86.375% and thereafter 89.100% 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
        $2,019,239.

       

      “Class
        M-2 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date) and (iii) the Class Principal Balance of
        the
        Class M-2 Certificates immediately prior to such Distribution Date over (y)
        the
        lesser of (A) the product of (i) for each Distribution Date prior to November
        2012, 89.875% and thereafter 91.900% 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
        $2,019,239.

       

      
        
          
          

        

        
          9

          
            

          

        

        
          
          

        

      

      

       

      “Class
        M-3 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date), (iii) the Class Principal Balance of the
        Class M-2 Certificates immediately prior to such Distribution Date (after
        taking
        into account the distribution of the Class M-2 Principal Distribution Amount
        on
        such Distribution Date) and (iv) the Class Principal Balance of the Class
        M-3
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) for each Distribution Date prior to November 2012,
        91.750% and thereafter 93.400% 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
        $2,019,239.

       

      “Class
        M-4 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date), (iii) the Class Principal Balance of the
        Class M-2 Certificates immediately prior to such Distribution Date (after
        taking
        into account the distribution of the Class M-2 Principal Distribution Amount
        on
        such Distribution Date), (iv) the Class Principal Balance of the Class M-
        3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date) and (v) the Class Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) for each Distribution Date prior to November 2012,
        93.625% and thereafter 94.900% 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
        $2,019,239.

       

      
        
          
          

        

        
          10

          
            

          

        

        
          
          

        

      

      

       

      “Class
        M-5 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date), (iii) the Class Principal Balance of the
        Class M-2 Certificates immediately prior to such Distribution Date (after
        taking
        into account the distribution of the Class M-2 Principal Distribution Amount
        on
        such Distribution Date), (iv) the Class Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Class Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date) and (vi) the Class Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) for each Distribution Date prior to November 2012,
        95.875% and thereafter 96.700% 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
        $2,019,239.

       

      “Class
        M-6 Principal Distribution Amount”:
        For any
        Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event
        has not occurred or is not continuing with respect to such Distribution Date,
        an
        amount equal to the lesser of (a) the Class Principal Balance of the Class
        M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date), (iii) the Class Principal Balance of the
        Class M-2 Certificates immediately prior to such Distribution Date (after
        taking
        into account the distribution of the Class M-2 Principal Distribution Amount
        on
        such Distribution Date), (iv) the Class Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Class Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Class Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date) and (vii) the Class Principal Balance of the Class M-6
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) for each Distribution Date prior to November 2012,
        97.250% and thereafter 97.800% 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
        $2,019,239.

       

      
        
          
          

        

        
          11

          
            

          

        

        
          
          

        

      

      

       

      “Class
        M-7 Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Class Principal Balance of
        the
        Class M-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 M-1 Certificates immediately prior to such Distribution Date
        (after
        taking into account the distribution of the Class M-1 Principal Distribution
        Amount on such Distribution Date), (iii) the Class Principal Balance of the
        Class M-2 Certificates immediately prior to such Distribution Date (after
        taking
        into account the distribution of the Class M-2 Principal Distribution Amount
        on
        such Distribution Date), (iv) the Class Principal Balance of the Class M-3
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-3 Principal Distribution Amount on
        such
        Distribution Date), (v) the Class Principal Balance of the Class M-4
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-4 Principal Distribution Amount on
        such
        Distribution Date), (vi) the Class Principal Balance of the Class M-5
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-5 Principal Distribution Amount on
        such
        Distribution Date) (vii) the Class Principal Balance of the Class M-6
        Certificates immediately prior to such Distribution Date (after taking into
        account the distribution of the Class M-6 Principal Distribution Amount on
        such
        Distribution Date)and (viii) the Class Principal Balance of the Class M-7
        Certificates immediately prior to such Distribution Date over (y) the lesser
        of
        (A) the product of (i) for each Distribution Date prior to November 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
        $2,019,239.

       

      “Class
        Principal Balance”:
        As to
        any Distribution Date, with respect to any Class of Regular 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 (including
        amounts paid from the Yield Maintenance Account pursuant to section 5.01(f)(vii)
        and (viii)) on all prior Distribution Dates, (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, (y)
        increased by the amount paid in respect of Allocated Realized Loss Amounts
        to
        such Class of Certificates on such Distribution Date from the Yield Maintenance
        Account pursuant to Section 5.01(f)(i) or (ii) and (z) increased by any
        Recoveries allocated to such Class of Certificates pursuant to Section
        5.08.

      
        
          
          

        

        
          12

          
            

          

        

        
          
          

        

      

      

      

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

       

      “Closing
        Date”:
        October 31, 2006.

       

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

       

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

       

      “Compensating
        Interest Payment”:
        With
        respect to any Distribution Date, the amount specified to be paid by the
        Servicer pursuant to Section 5.05 of 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.

       

      
        
          
          

        

        
          13

          
            

          

        

        
          
          

        

      

      

       

      “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: GC06SB1, HarborView
        Mortgage Loan Trust 2006-SB1, 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.

       

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

       

      “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 November 2012 or Stepdown
                  Date

              	 	
                Target
                  Credit Enhancement Percentage on or after November 2012 or

                Stepdown
                  Date

              	 
	
                Senior

              	 	 	
                7.400

              	
                %

              	 	
                18.500

              	
                %

              	 	
                14.800

              	
                %

              
	
                M-1

              	 	 	
                5.450

              	
                %

              	 	
                13.625

              	
                %

              	 	
                10.900

              	
                %

              
	
                M-2

              	 	 	
                4.050

              	
                %

              	 	
                10.125

              	
                %

              	 	
                8.100

              	
                %

              
	
                M-3

              	 	 	
                3.300

              	
                %

              	 	
                8.250

              	
                %

              	 	
                6.600

              	
                %

              
	
                M-4

              	 	 	
                2.550

              	
                %

              	 	
                6.375

              	
                %

              	 	
                5.100

              	
                %

              
	
                M-5

              	 	 	
                1.650

              	
                %

              	 	
                4.125

              	
                %

              	 	
                3.300

              	
                %

              
	
                M-6

              	 	 	
                1.100

              	
                %

              	 	
                2.750

              	
                %

              	 	
                2.200

              	
                %

              
	
                M-7

              	 	 	
                0.500

              	
                %

              	 	
                1.250

              	
                %

              	 	
                1.000

              	
                %

              

      

      

      “Credit
        Risk Management Agreement”:
        The
        credit risk management agreement dated as of the Closing Date, entered into
        by
        the Servicer and the Credit Risk Manager.

       

      “Credit
        Risk Manager”:
        Clayton Fixed Income Services Inc., a Colorado corporation, and its successors
        and assigns.

       

      “Credit
        Risk Manager’s Fee”:
        With
        respect to any Distribution Date and each Mortgage Loan, an amount equal
        to the
        product of (a) one twelfth, (b) the Credit Risk Manager’s Fee Rate and (c) the
        Stated Principal Balance of such Mortgage Loan as of the first day of the
        related Due Period.

       

      
        
          
          

        

        
          14

          
            

          

        

        
          
          

        

      

      

       

      “Credit
        Risk Manager’s Fee Rate”:
        0.0050% per annum.

       

      “Custodian”:
        For
        purposes of this Agreement, the Custodian shall be the Trustee.

       

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

       

      “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).

       

      “DBRS”:
        Dominion Bond Rating Service, and its successors.

       

      “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.

       

      “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.

       

      
        
          
          

        

        
          15

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “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 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-SB1” 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 November 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.

       

      
        
          
          

        

        
          16

          
            

          

        

        
          
          

        

      

      

       

      “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 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 M-7 Certificates, Class ES Certificates, Class P Certificates and
        the
        Residual Certificate and (ii) any Class of Certificates that are not rated
        at
        least “BBB-” (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.

       

      “Excess
        Servicing Fee Rate”:
        With
        respect to any Mortgage Loan, the excess, if any, of 0.375% per annum over
        the
        Subservicing Fee Rate.

       

      
        
          
          

        

        
          17

          
            

          

        

        
          
          

        

      

      

       

      “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) the Credit Risk Manager
        Fee.

       

      “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 December 2036.

       

      “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 November 2016, zero.
        For each Distribution Date commencing on the Distribution Date in November
        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) 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 the aggregate Stated Principal Balance as of the Cut-off
        Date.

       

      “Final
        Maturity Reserve Schedule”:
        With
        respect to each Distribution Date on or after the Distribution Date in November
        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 November
        2016 and on each Distribution Date thereafter until the Final Maturity Reserve
        Termination Date, the lesser of (i) the excess of $14,627,618.34 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).

       

      
        
          
          

        

        
          18

          
            

          

        

        
          
          

        

      

      

       

      “Final
        Maturity Reserve Termination Date”:
        The
        earlier of (i) the Distribution Date in December 2026 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.

       

      “GMAC”:
        GMAC
        Mortgage, LLC, as Servicer of the Mortgage Loans as set forth and as
        individually defined in the Mortgage Loan Schedule hereto, and any successors
        thereto.

       

      “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.

       

      “Indemnified
        Persons”:
        The
        Trustee (individually in its corporate capacity and in all capacities
        hereunder), the Depositor, the Servicer, the Custodian and the NIMS 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.

       

      
        
          
          

        

        
          19

          
            

          

        

        
          
          

        

      

      

       

      “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, Class ES and Class R
        Certificates, the amount designated “Initial Certificate Principal Balance” on
        the face thereof.

       

      “Initial
        LIBOR Rate”:
        5.32%.

       

      “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.

       

      “Interest
        Distributable Amount”:
        With
        respect to any Distribution Date and each Class of Certificates (other than
        the
        Class C, Class ES, 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, 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 and (ii) Principal Prepayments received during
        the
        related Prepayment Period up to the amount of 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.

       

      
        
          
          

        

        
          20

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “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
        Subordinate Certificates.

       

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

       

      “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.

       

      
        
          
          

        

        
          21

          
            

          

        

        
          
          

        

      

      

       

      “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
        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.

       

      “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.

       

      “Master
        Consulting Agreement”:
        The
        master consulting agreement dated as of April 18, 2005, by and between Greenwich
        Capital Markets, Inc. and the Credit Risk Manager.

       

      
        
          
          

        

        
          22

          
            

          

        

        
          
          

        

      

      

       

      “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 ES,
        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.

       

      “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.

       

      
        
          
          

        

        
          23

          
            

          

        

        
          
          

        

      

      

       

      “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 October 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;

              

      

       

      
        	 	
                (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;

              

      

       

      
        
          
          

        

        
          24

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (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; and

              

      

       

      
        	 	
                (xxiii)

              	
                the
                  Expense Fee Rate therefor.

              

      

       

      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 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.

       

      
        
          
          

        

        
          25

          
            

          

        

        
          
          

        

      

      

       

      “Mortgagor”:
        The
        obligor on a Mortgage Note.

       

      “MTA”:
        With
        respect to each Accrual Period, a per annum rate determined on each MTA
        Determination Date in the following manner by the Trustee on the basis of
        the
        twelve-month moving average monthly yield on United States Treasury Securities
        adjusted to a constant maturity of one year as published by the Federal Reserve
        Board in the Federal Reserve Statistical Release “Selected Interest Rates
        (H.15)”, determined by averaging the monthly yields for the most recently
        available twelve months.

       

      (a)
        If on
        any MTA Determination Date, MTA is no longer available, the Trustee, in
        consultation with the Depositor, shall select a new index for the MTA
        Certificates that is based on comparable information. When the Trustee, in
        consultation with the Depositor, selects a new index for the MTA Certificates,
        the Margin for the MTA Certificates will increase or decrease by the difference
        the average MTA for the final three years it was in effect and the average
        of
        the most recent three years for the replacement index. The Margin for the
        MTA
        Certificates will be increased by that difference if the average MTA is greater
        than the average replacement index and the Margin for the MTA Certificates
        will
        be decreased by that difference if the average replacement index is greater
        than
        the average MTA. The Trustee will have no liability for the selection of
        such
        alternative index (and shall be entitled to rely on such advice, if any,
        as it
        may deem appropriate in such selection), except that the Trustee, in
        consultation with the Depositor, will select a particular index as the
        alternative index only if it receives an Opinion of Counsel, which opinion
        shall
        be an expense reimbursed from the Distribution Account, that the selection
        of
        such index will not cause any REMIC created hereunder to lose its classification
        as a REMIC for federal income tax purposes.

       

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

       

      “MTA
        Certificates”:
        The
        Senior Certificates.

       

      “MTA
        Determination Date”:
        The
        fifteenth day immediately prior the commencement of each Accrual Period for
        the
        MTA Certificates.

       

      “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 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.

       

      
        
          
          

        

        
          26

          
            

          

        

        
          
          

        

      

      

       

      “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 November 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 November 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 MTA Certificates and the LIBOR
        Certificates, (B) the Unpaid Interest Shortfall Amounts for the MTA Certificates
        and the LIBOR Certificates, (C) the Principal Remittance Amount and (D) the
        amount of Principal Prepayments for the related Prepayment Period to the
        extent
        of Deferred Interest for such Distribution Date.

       

      “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(f)(i) or (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 Stated Principal Balances at the beginning of the related Due
        Period.

       

      “Net
        WAC Cap”:
        For
        the MTA Certificates and any Distribution Date is equal to the Net WAC. For
        the
        LIBOR 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.

       

      
        
          
          

        

        
          27

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “Offered
        Certificates”:
        The
        Class A-1A, Class A-1B, Class M-1, Class M-2, Class M-3, Class M-4, Class
        M-5
        and Class M-6 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 ES, Class
        P
        and Class R Certificates, the corresponding aggregate amount set forth opposite
        the Class designation of such Class in the Preliminary Statement. 

       

      “Originator”:
        SBMC
        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.

       

      “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).

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

      

       

      “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
        November 2012 or (II) 1.00% of the aggregate Stated Principal Balance of
        the
        Mortgage Loans on or after the Distribution Date in November 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
        MTA Certificates, 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 the Class M-7 Certificates
        and
        any Distribution Date, the rate set forth below:

       

      
        	 	
                (i)

              	
                The
                  Pass-Through Rate for the Class A-1A Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) MTA plus 0.850%
                  per annum,
                  (ii) the Net WAC Cap for that Distribution Date and (iii) the Net
                  Maximum Rate Cap. 

              

      

       

      
        	 	
                (ii)

              	
                The
                  Pass-Through Rate for the Class A-1B Certificates with respect
                  to any
                  Distribution Date shall equal the least of (i) MTA plus 0.950%
                  per annum,
                  (ii) the Net WAC Cap for that Distribution Date and (iii) the Net
                  Maximum Rate Cap. 

              

      

       

      
        	 	
                (iii)

              	
                The
                  Pass-Through Rate for the Class M-1 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.380%
                  per annum (0.570% per annum after the Call Option Date), (ii) the
                  Net WAC
                  Cap for that Distribution Date, and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (iv)

              	
                The
                  Pass-Through Rate for the Class M-2 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.400%
                  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.
                  

              

      

       

      
        	 	
                (v)

              	
                The
                  Pass-Through Rate for the Class M-3 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.
                  

              

      

       

      
        	 	
                (vi)

              	
                The
                  Pass-Through Rate for the Class M-4 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.550%
                  per annum (0.825% per annum after the Call Option Date), (ii) the
                  Net WAC
                  Cap for that Distribution Date, and (iii) the Net Maximum Rate
                  Cap.
                  

              

      

       

      
        	 	
                (vii)

              	
                The
                  Pass-Through Rate for the Class M-5 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 0.680%
                  per annum (1.020% 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 M-6 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 1.500%
                  per annum (2.250% 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 M-7 Certificates with respect to
                  any
                  Distribution Date shall equal the least of (i) One-Month LIBOR
                  plus 1.750%
                  per annum (2.625% 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 ES, 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 ES, Class P and Class R Certificates, 100%.

       

      
        
          
          

        

        
          30

          
            

          

        

        
          
          

        

      

      

       

      “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;

              

      

       

      
        	 	
                (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

              

      

       

      
        
          
          

        

        
          31

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (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 ES, Class P and Class R Certificates.

       

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

       

      “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 Credit Risk Manager 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.

       

      
        
          
          

        

        
          32

          
            

          

        

        
          
          

        

      

      

       

      “Principal
        Distribution Amount”:
        For
        any Distribution Date, the excess of (x) the Principal Remittance Amount
        over
        (y) 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 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, deposited to the Distribution Account during the
        related Prepayment Period, (c) the principal portion of any related
        Substitution Adjustments 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 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 other than Recoveries, (f) all
        Principal Prepayments (net of portions of Principal Prepayments applied in
        respect of Deferred Interest pursuant to Section 5.01(a)(i)) in part or in
        full
        on Mortgage Loans received by the Servicer during the related Prepayment
        Period,
        net of Deferred Interest, (g) all Recoveries 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.

       

      “Private
        Certificates”:
        The
        Class M-7, Class C, Class ES, Class P and Class R Certificates.

       

      “Private
        Placement Memorandum”:
        The
        Private Placement Memorandum dated October 30, 2006 relating to the initial
        sale
        of the Class M-7 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.

       

      
        
          
          

        

        
          33

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “Prospectus
        Supplement”:
        That
        certain prospectus supplement dated October 30, 2006, relating to the initial
        offering of the Offered Certificates.

       

      “Purchase
        Agreement”:
        The
        Master Mortgage Loan Purchase and Interim Servicing Agreement dated as of
        March
        1, 2004, as amended, and the Master Mortgage Loan Purchase and Interim Servicing
        Agreement dated as of November 1, 2005, as amended, each between the GCFP,
        as
        purchaser, and SBMC, as seller, as the same may be amended from time to
        time.

       

      “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.

       

      
        
          
          

        

        
          34

          
            

          

        

        
          
          

        

      

      

       

      “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 DBRS, S&P and Moody’s and any respective successors thereto. If DBRS,
        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 October 1, 2006 among the Seller,
        the Depositor 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 the MTA Certificates and each other Class of
        Certificates, the last Business Day of the calendar month preceding the month
        in
        which such Distribution Date occurs.

       

      
        
          
          

        

        
          35

          
            

          

        

        
          
          

        

      

      

       

      “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 ES, 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, the Credit Risk Manager or the Servicer, the term
        “Relevant Servicing Criteria” may refer to a portion of the Relevant Servicing
        Criteria applicable to such parties.

       

      
        
          
          

        

        
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      “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.

       

      
        
          
          

        

        
          37

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “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 Basis Risk Shortfalls for such Distribution
        Date
        with respect to the LIBOR Certificates and the MTA Certificates (before giving
        effect to distributions of amounts received pursuant to the 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.

       

      
        
          
          

        

        
          38

          
            

          

        

        
          
          

        

      

      

       

      “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.

       

      “SBMC”:
        Secured Bankers Mortgage Company, and its successors and assigns, in its
        capacity as Originator of the Mortgage Loans.

       

      “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 A-1A and Class A-1B Certificates.

       

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

       

      “Senior
        Principal Distribution Amount”:
        For
        any Distribution Date, on or after the Stepdown Date and as long as a Trigger
        Event has not occurred or is not continuing with respect to such Distribution
        Date, an amount equal to the lesser of (a) the Principal Distribution Amount
        and
        (b) the excess of (x) the aggregate class principal balance of the Senior
        Certificates and any Class C Priority Principal Amount immediately prior
        to such
        Distribution Date over (y) the lesser of (A) the product of (i) for each
        Distribution Date prior to November 2012, 81.500% and thereafter 85.200%
        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
        $2,019,239.

       

      
        
          
          

        

        
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      “Servicer”:
        GMAC,
        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
        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
        Amended and Restated Master Interim Servicing Agreement dated as of January
        1,
        2006, between GCFP, as owner, and GMAC, as successor in interest to GMAC
        Mortgage Corporation, as servicer, as reconstituted by the Reconstitution
        Agreement, as the same may be amended from time to time.

       

      “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%.

       

      “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.

       

      “Servicing
        Rights”:
        With
        respect to any Mortgage Loan, any and all of the following: (a) the right,
        under
        the Servicing Agreement, to terminate the Servicer as servicer of the Mortgage
        Loan, with or without cause, (b) the right, under the Servicing Agreement,
        to
        transfer the Servicing Rights and/or all servicing obligations with respect
        to
        such Mortgage Loan; (c) the right to the Servicing Fee, less an amount to
        be
        retained by the Servicer, as its servicing compensation as agreed to by the
        Servicing Rights Owner and the Servicer and (d) all powers and privileges
        incident to any of the foregoing.

       

      
        
          
          

        

        
          40

          
            

          

        

        
          
          

        

      

      

       

      “Servicing
        Rights Owner”:
        With
        respect to the Mortgage Loans, GCFP or any successor or assign of
        GCFP.

       

      “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 November
        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 A-1A and Class A-1B Certificates
        has
        been reduced to zero and (ii) the later to occur of (x) the Distribution
        Date
        occurring in November 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 November
        2012, 18.500% and (b) on or after the Distribution Date in November 2012,
        14.800%.

       

      
        
          
          

        

        
          41

          
            

          

        

        
          
          

        

      

      

       

      “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, the Custodian or the Credit Risk Manager.

       

      “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 first reducing the Net WAC
        by a
        per annum rate equal to the product of (i) the Net Deferred Interest for
        that
        Distribution Date multiplied by (ii) 12, divided by the Pool Balance for
        such
        Distribution Date.

       

      “Subordinate
        Certificate”:
        Any of
        the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 or Class
        M-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 Monthly Interest Distributable Amount for such Class of
        Certificates computed without regard to the Subordinate Class Expense
        Share.

       

      “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.

       

      “Subservicing
        Fee”:
        For
        any Mortgage Loan, an amount equal to (a) one-twelfth the product of (i)
        the
        Subservicing Fee Rate and (ii) the Stated Principal Balance of such Mortgage
        Loan as of the first day of the related month.

       

      
        
          
          

        

        
          42

          
            

          

        

        
          
          

        

      

      

       

      “Subservicing
        Fee Rate”:
        For
        any Mortgage Loan serviced by GMAC on behalf of the Trust Fund, the “GMACM
        Subservicing Fee Rate” as defined in the GMAC Reconstituted Servicing Agreement
        reconstituting the GMAC Sub-Servicing Agreement.

       

      “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. 

       

      “Transaction
        Addendum HarborView 2006-SB1”:
        The
        transaction addendum dated as of October 31, 2006, by and between Greenwich
        Capital Markets, Inc. and the Credit Risk Manager, and acknowledged by the
        Trustee, relating to the transaction contemplated by this
        Agreement.

       

      “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 November 2012, 37.84% of the
        current Credit Enhancement Percentage or (ii) on or after the Distribution
        Date
        in November 2012, 40.00% of the current Credit Enhancement Percentage;
        or

       

      (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:

       

      
        
          
          

        

        
          43

          
            

          

        

        
          
          

        

      

      

       

      

      
        	
                Distribution
                  Date Occurring In

              	 	
                Percentage

              
	
                November
                  2008 - October 2009

              	 	
                0.15%
                  for the first month plus an additional 1/12th
                  of
                  0.20% for each month thereafter

              
	
                November
                  2009 - October 2010

              	 	
                0.35%
                  for the first month plus an additional 1/12th
                  of
                  0.30% for each month thereafter

              
	
                November
                  2010 - October 2011

              	 	
                0.65%
                  for the first month plus an additional 1/12th
                  of
                  0.30% for each month thereafter

              
	
                November
                  2011 - October 2012 

              	 	
                0.95%
                  for the first month plus an additional 1/12th
                  of
                  0.35% for each month thereafter

              
	
                November
                  2012 - October 2013 

              	 	
                1.35%
                  for the first month plus an additional 1/12th
                  of
                  0.10% for each month thereafter

              
	
                November
                  2013 and thereafter

              	 	
                1.40%
                  

              

      

      

      “Trust
        Fund”:
        The
        segregated pool of assets subject hereto, constituting the primary trust
        created
        hereby and to be administered hereunder, 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 Account and the Yield Maintenance
        Account, (viii) the distributions made by the Administrator to the Trustee
        pursuant to the Yield Maintenance Allocation Agreement, and (ix) 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), (2) all income and gain realized
        from Permitted Investments of funds on deposit in the Distribution Account
        and
        (3) all Servicing Rights.

       

      “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.

       

      
        
          
          

        

        
          44

          
            

          

        

        
          
          

        

      

      

       

      “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”:
        0.008%
        per annum.

       

      “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
        Interest Shortfall Amount”:
        For any
        Distribution Date and any Class of Regular Certificates, the sum of (i) the
        excess, if any, of (a) the aggregate of the Monthly Interest Distributable
        Amounts for such Class for all prior Distribution Dates over (b) the sum
        of all
        amounts distributed as interest in respect of such Class from the Interest
        Remittance Amount pursuant to Section 5.01(a)(i) and from the Yield Maintenance
        Account pursuant to Section 5.01(f)(v) or (vi), plus (ii) interest on the
        amount
        described in clause (i) at the applicable Pass-Through Rate for the related
        Accrual Period, plus (iii) any interest accrued pursuant to clause (ii) on
        prior
        Distribution Dates that remains unpaid. 

       

       

      “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

       

      
        
          
          

        

        
          45

          
            

          

        

        
          
          

        

      

      

       

      (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; and 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. The Class C Class
        ES
        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-SB1” and which must be an
        Eligible Account.

       

      “Yield
        Maintenance Agreement”:
        The
        interest rate cap agreement for the benefit of the LIBOR Certificates and
        the
        MTA 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. 38494), dated
        as of
        October 31, 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.

       

      “Yield
        Maintenance Allocation Agreement”:
        The
        allocation agreement dated October 31, 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 and the Class
        M-7
        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.

       

      
        
          
          

        

        
          46

          
            

          

        

        
          
          

        

      

      

       

      “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 and the Class M-7 Certificates.

       

      “Yield
        Maintenance Payment Amount”:
        With
        respect to each Distribution Date, an amount equal to the sum of the amounts
        described in section 5.01(f)(i) through (viii).

       

      “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.

       

      ARTICLE
        II

       

      CONVEYANCE
        OF MORTGAGE LOANS;

      ORIGINAL
        ISSUANCE OF CERTIFICATES

       

      SECTION
        2.01. Conveyance of Mortgage Loans.

       

      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 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; provided
        that
        such assignment shall not include any Servicing Rights with respect to the
        Mortgage Loans. 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.

       

      
        
          
          

        

        
          47

          
            

          

        

        
          
          

        

      

      

       

      It
        is
        acknowledged and agreed that the Trustee hereunder shall also serve as the
        Administrator under the Yield Maintenance Allocation Agreement and the Yield
        Maintenance Agreement. The Depositor hereby directs the Administrator to
        execute, deliver and perform its obligations under the Yield Maintenance
        Allocation Agreement and the 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 and the 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.

       

      Notwithstanding
        anything provided herein to the contrary, each of the parties hereto agrees
        and
        acknowledges that, notwithstanding the transfer, conveyance and assignment
        of
        the Mortgage Loans from the Depositor to the Trustee pursuant to this Agreement,
        the GCFP remains the sole and exclusive owner of the related Servicing Rights
        with respect to the Mortgage Loans (for purposes of clarification only, the
        Trustee has a non-exclusive right to terminate the Servicer in accordance
        with
        the terms of this Agreement and the Servicing Agreement).

       

      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 Servicing Rights and the right to terminate the
        Servicer for an Event of Default under Section 11.07(b) 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 11.07(b) 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.

       

      
        
          
          

        

        
          48

          
            

          

        

        
          
          

        

      

      

       

      In
        connection with such transfer and assignment, the Seller, on behalf of the
        Depositor, does hereby deliver on the Closing Date, unless otherwise specified
        in this Section 2.01, 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-SB1, 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;

       

      (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;

       

      
        
          
          

        

        
          49

          
            

          

        

        
          
          

        

      

      

       

      (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-SB1,
        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-SB1.
        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.

       

      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.

       

      
        
          
          

        

        
          50

          
            

          

        

        
          
          

        

      

      

       

      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
        (a)
        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.

       

      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.

       

      
        
          
          

        

        
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      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.

       

      The
        Trustee (or the Custodian on behalf of the Trustee) shall, for the benefit
        of
        the Certificateholders, 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 in such Mortgage Loan, the party discovering such
        breach shall give prompt written notice to the other parties to this
        Agreement.

       

      
        
          
          

        

        
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      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.

       

      The
        Trustee is hereby authorized and directed by the Depositor to execute and
        deliver Transaction Addendum HarborView 2006-SB1 to the Master Consulting
        Agreement with the Credit Risk Manager.

       

      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,
        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, 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. 

       

      
        
          
          

        

        
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      (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, 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.

       

      
        
          
          

        

        
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      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.

       

      
        
          
          

        

        
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      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, 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 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); and

       

      (iii) With
        respect to each representation and warranty with respect to any Mortgage
        Loan
        made by the Originator in the Purchase Agreements 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.

       

      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 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 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.

       

      
        
          
          

        

        
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      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 notwithstanding
        any
        restrictive or qualified endorsement or assignment. Upon discovery by any
        of the
        Depositor, the Seller 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,
        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. Back-up of Originator Representations and Warranties.

       

      Within
        120 days of the earlier of discovery by the Seller or receipt of notice by
        the
        Seller of (i) the breach of any representation or warranty of  the
        Originator under Section 7.02 of 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 and for which the
        Originator has failed to cure such breach in accordance with the terms of
        the Purchase Agreement and (ii)(a) the fact that  the Originator  is
        no longer an operating company or (b) an Officers’ Certificate certifying to the
        fact that the Originator is financially unable to cure such breach in accordance
        with the terms of the Purchase Agreement, the Seller shall take such action
        described in Section 2.03 in respect of such Mortgage Loan.  Such
        obligation of the Seller shall continue until such time that the Rating Agencies
        inform the Depositor and the Seller in writing that such obligation is no
        longer
        required in order for the Rating Agencies to maintain their then-current
        ratings
        on the Certificates.

       

      

      SECTION
        2.06. Representations and Warranties of the Depositor.

       

      The
        Depositor represents and warrants to the Trust Fund, any NIMS Insurer and
        the
        Trustee on behalf of the Certificateholders 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);

       

      
        
          
          

        

        
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      (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;

       

      (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

       

      
        
          
          

        

        
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      (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.

       

      SECTION
        2.08. Representations and Warranties of the Seller.

       

      The
        Seller hereby represents and warrants to the Trustee on behalf of the
        Certificateholders 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.

       

      
        
          
          

        

        
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      (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.

       

      (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.

       

      
        
          
          

        

        
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      (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.

       

      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,
        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 and the Depositor a complete list of each party to
        the
        HarborView Mortgage Loan Trust 2006-SB1 transaction.

       

      ARTICLE
        III

       

      ADMINISTRATION
        OF THE MORTGAGE LOANS; CREDIT RISK MANAGER

       

      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. Notwithstanding anything in this Agreement, the Servicing
        Agreement or the Credit Risk Management Agreement to the contrary, the Trustee
        shall have no duty or obligation to enforce the Credit Risk Management Agreement
        or to supervise, monitor or oversee the activities of the Servicer under
        the
        Credit Risk Management Agreement with respect to any action taken or not
        taken
        by the Servicer at the direction of the Seller or pursuant to a recommendation
        of the Credit Risk Manager.

       

      
        
          
          

        

        
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      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.

       

      (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.

       

      
        
          
          

        

        
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      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, the Credit Risk Manager 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. 

       

      (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 and the Credit Risk Manager 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, the Credit Risk Manager 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, the Credit Risk Manager 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.

       

      
        
          
          

        

        
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      (v) In
        the
        event the Trustee, the Servicer, the Custodian, the Credit Risk Manager 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, the Custodian and the Credit Risk Manager, 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,
        the
        Credit Risk Manager, 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. 

       

      (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, the Credit Risk Manager 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.

       

      
        
          
          

        

        
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      (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.

       

      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.

       

      
        
          
          

        

        
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      (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 and a copy of each report made available
        by
        the Credit Risk Manager pursuant to Section 3.15 (provided each such report
        is
        made available to the Trustee in a format compatible with EDGAR filing
        requirements) 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-SB1 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.

       

      (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.

       

      
        
          
          

        

        
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      (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 and the Servicing Agreement, (i) an annual
        compliance statement for the Servicer, the Credit Risk Manager 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.

       

      
        
          
          

        

        
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      (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-SB1 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.

       

      (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.

       

      
        
          
          

        

        
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      (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.

       

      (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 Easter Standard Time
        on
        the 2nd Business Day after the occurrence of a Reportable Event (i) the parties
        to the HarborView Mortgage Loan Trust 2006-SB1 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.

       

      
        
          
          

        

        
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      (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.

       

      (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.

       

      
        
          
          

        

        
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      (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.

       

      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.

       

      
        
          
          

        

        
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      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.

       

      (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.

      
        
          
          

        

        
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      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.

       

      SECTION
        3.13. Duties of the Credit Risk Manager.

       

      (a) The
        Certificateholders, by their purchase and acceptance of the Certificates,
        appoint Clayton Fixed Income Services Inc., formerly known as The Murrayhill
        Company, as Credit Risk Manager. For and on behalf of the Depositor, the
        Credit
        Risk Manager will provide reports and recommendations concerning certain
        delinquent and defaulted Mortgage Loans, and as to the collection of any
        Prepayment Premiums with respect to the Mortgage Loans. Such reports and
        recommendations will be based upon information provided pursuant to the Credit
        Risk Management Agreement to the Credit Risk Manager by the Servicer. The
        Credit
        Risk Manager shall look solely to the Servicer for all information and data
        (including loss and delinquency information and data) and loan level information
        and data relating to the servicing of the Mortgage Loans and the Trustee
        shall
        not have any obligation to provide any such information to the Credit Risk
        Manager and shall not otherwise have any responsibility under the Credit
        Risk
        Management Agreement.

       

      (b) On
        or
        about the 15th calendar day of each month, the Credit Risk Manager shall
        have
        prepared and shall make available to any NIMS Insurer, the Trustee and each
        Certificateholder, the following reports (each such report to be made in
        a
        format compatible with EDGAR filing requirements):

       

      (i) Watchlist
        Report:
        A
        listing of individual Mortgage Loans that are of concern to the Credit Risk
        Manager. Each Watchlist Report shall contain a listing of Mortgage Loans
        in any
        delinquency status, including current and paid-off loans, and may contain
        the
        comments of the Credit Risk Manager in its sole discretion. The Watchlist
        Report
        shall be presented in substantially the same format attached hereto as Exhibit
        S-1;

       

      (ii) Loss
        Severity Report:
        A
        compilation and summary of all losses, indicating the loan loss severity
        for the
        Mortgage Loans. Each Loss Severity Report shall include detail of all losses
        reported by the Servicer as Realized Losses, except those for which the Servicer
        has not provided detail adequate for reporting purposes. The Loss Severity
        Report shall be presented in substantially the same format attached hereto
        as
        Exhibit S-2;

        

      (iii) Prepayment
        Premiums Report:
        A
        summary of Prepayment Premiums assessed or waived by the Servicer. The
        Prepayment Premiums Report shall be presented in substantially the same format
        attached hereto as Exhibit S-3; and

      
        
          
          

        

        
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      (iv) Analytics
        Report:
        Analytics Reports shall include statistical and/or graphical portrayals
        of:

       

      
        	 	
                (A)

              	
                Delinquency
                  Trend:
                  The delinquency trend, over time, of the Mortgage
                  Loans;

              

      

       

      
        	 	
                (B)

              	
                Prepayment
                  Analysis:
                  The constant prepayment rate “CPR” experience of the Mortgage Loans;
                  and

              

      

       

      
        	 	
                (C)

              	
                Standard
                  Default Assumption:
                  The Standard Default Assumption experience of the Mortgage
                  Loans.

              

      

       

      The
        Analytics Report shall be presented in substantially the same format attached
        hereto as Exhibit S-5.

       

      The
        Credit Risk Manager shall make such reports and any additional information
        reasonably requested by the Depositor available each month to
        Certificateholders, the Trustee, any NIMS Insurer and the Rating Agencies
        via
        the Credit Risk Manager’s internet website. The Credit Risk Manager’s internet
        website shall initially be located at https://reports.clayton.com.
        The
        user name for access to the website shall be the Certificateholder’s e-mail
        address and the password shall be “HarborView 2006-SB1.” The Trustee shall not
        have any obligation to review such reports or otherwise monitor or supervise
        the
        activities of the Credit Risk Manager.

       

      (c) The
        Credit Risk Manager shall reasonably cooperate with the Depositor and the
        Trustee in connection with the Trust Fund’s satisfying the reporting
        requirements under the 1934 Act with respect to reports prepared by the Credit
        Risk Manager.

       

      (d) The
        Credit Risk Manager has not and shall not engage any Subcontractor without
        (a)
        giving notice to the Sponsor, the Trustee and the Depositor and (b) requiring
        any such Subcontractor to provide to the Credit Risk Manager an assessment
        report as provided for in Section 3.04(a) above and an attestation report
        as
        provided in Section 3.15(b) above, which reports the Credit Risk Manager
        shall
        include in its assessment and attestation reports.

       

      (e) By
        March
        15 of each year (or if such day is not a Business Day, the immediately preceding
        Business Day), the Credit Risk Manager shall deliver a signed certification,
        in
        the form attached hereto as Exhibit T (the “Credit
        Risk Manager Certification”),
        for
        the benefit of the Depositor, the Sponsor, the Trustee and for the benefit
        of
        the Person(s) signing the Form 10-K Certification; provided (i) that the
        Credit
        Risk Manager Certification shall be so provided by March 15 of such year
        only to
        the extent that the Trustee delivers a draft (without exhibits) of the
        applicable Annual Report on Form 10-K to the Credit Risk Manager by the 5th
        Business Day in March of such year and (ii) in the event that the Trustee
        delivers the draft Form 10-K referred to in clause (i) after the 5th Business
        Day in March of such year, the Credit Risk Manager shall deliver the Credit
        Risk
        Manager Certification as soon as practicable but no later than five calendar
        days of delivery to the Credit Risk Manager of such draft Form
        10-K.

       

      (f) In
        the
        event that prior to the filing date of the Form 10-K in March of each year,
        the
        Credit Risk Manager has knowledge or information material to the Credit Risk
        Manager Certification, the Credit Risk Manager shall promptly notify the
        Depositor and the Trustee, in writing.

       

      
        
          
          

        

        
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      SECTION
        3.14. Limitation Upon Liability of the Credit Risk Manager.

       

      Except
        as
        provided pursuant to Section 3.15, neither the Credit Risk Manager, nor any
        of
        the directors, officers, employees or agents of the Credit Risk Manager,
        shall
        be under any liability to the Trustee, the Certificateholders or the Depositor
        for any action taken or for refraining from the taking of any action in good
        faith pursuant to this Agreement, in reliance upon information provided by
        Servicer under the Credit Risk Management Agreement or for errors in judgment;
        provided,
        however,
        that
        this provision shall not protect the Credit Risk Manager or any such person
        against liability that would otherwise be imposed by reason of willful
        malfeasance, bad faith or gross negligence in its performance of its duties
        or
        by reason of reckless disregard for its obligations and duties under this
        Agreement or the Credit Risk Management Agreement. The Credit Risk Manager
        and
        any director, officer, employee or agent of the Credit Risk Manager may rely
        in
        good faith on any document of any kind prima facie properly executed and
        submitted by any Person respecting any matters arising hereunder, and may
        rely
        in good faith upon the accuracy of information furnished by the Servicer
        pursuant to the Credit Risk Management Agreement in the performance of its
        duties thereunder and hereunder.

       

      SECTION
        3.15. Indemnification by the Credit Risk Manager.

       

      The
        Credit Risk Manager agrees to indemnify the Depositor and the Trustee, and
        each
        of their respective directors, officers, employees and agents and the Trust
        Fund
        and hold each of them harmless from and against any losses, damages, penalties,
        fines, forfeitures, legal fees and expenses and related costs, judgments,
        and
        any other costs, fees and expenses that any of them may sustain arising out
        of
        or based upon the engagement of any Subcontractor in violation of Section
        3.13(e) or any failure by the Credit Risk Manager to deliver any information,
        report, certification, accountants’ letter or other material when and as
        required under this Agreement, including any report under Sections 3.04(a)
        or
        (b).

      

      SECTION
        3.16. Removal of Credit Risk Manager.

       

      The
        Credit Risk Manager may be removed as Credit Risk Manager by Certificateholders
        holding not less than a 66-2/3% Voting Interests in the Trust, in the exercise
        of its or their sole discretion, at any time, without cause, upon ten (10)
        days
        prior written notice. The Certificateholders shall provide such written notice
        to the Trustee and upon receipt of such notice, the Trustee shall provide
        written notice to the Credit Risk Manager of its removal, effective upon
        receipt
        of such notice.

       

      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;

       

      (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, 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 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 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;

       

      
        
          
          

        

        
          79

          
            

          

        

        
          
          

        

      

      

       

      (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;

       

      (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
        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;

       

      (xii) 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;

       

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

       

      (xiv) to
        pay
        the Credit Risk Manager the Credit Risk Manager Fee;

       

      (xv) to
        remove
        amounts deposited in error;

       

      (xvi) 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 and the Yield Maintenance Agreement pursuant
        to
        Section 8.19; and

       

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

       

      
        
          
          

        

        
          80

          
            

          

        

        
          
          

        

      

      

       

      (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. [Reserved].

       

      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
        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, the Available Funds 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 November 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 to the holders of the
                  Class A-1A
                  and Class A-1B, as applicable, the related Interest Distributable
                  Amount,
                  if any, to which each such Class is entitled, in each case, on
                  a
                  pro
                  rata
                  basis to each such Class based on the amounts due such
                  Class;

              

      

       

      
        
          
          

        

        
          81

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (C)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-1
                  Certificates, the related Monthly Interest Distributable
                  Amount;

              

      

       

      
        	 	
                (D)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-2
                  Certificates, the related Monthly Interest Distributable Amount;
                  

              

      

       

      
        	 	
                (E)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-3
                  Certificates, the related Monthly Interest Distributable
                  Amount;

              

      

       

      
        	 	
                (F)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-4
                  Certificates, the related Monthly Interest Distributable
                  Amount;

              

      

       

      
        	 	
                (G)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-5
                  Certificates, the related Monthly Interest Distributable Amount;
                  

              

      

       

      
        	 	
                (H)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-6
                  Certificates, the related Monthly Interest Distributable
                  Amount;

              

      

       

      
        	 	
                (I)

              	
                from
                  the remaining Interest Remittance Amount, to the holders of the
                  Class M-7
                  Certificates, the related Monthly Interest Distributable Amount;
                  and

              

      

       

      
        	 	
                (J)

              	
                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 MTA Certificates and 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 MTA Certificates and 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 will be distributed in the following
        amounts and order of priority:

       

      
        	 	
                (A)

              	
                first,
                  from the Principal Distribution Amount, to the holder of the Senior
                  Certificates, and, to the extent of the Class C Priority Principal
                  Amount,
                  to the holders of the Class C Certificates, the Principal Distribution
                  Amount, pro
                  rata,
                  based on their respective Class Principal Balances, in the case
                  of the
                  Senior Certificates, and based on the Class C Priority Principal
                  Amount,
                  in the case of the Class C Certificates, immediately prior to such
                  Distribution Date, until the Class Principal Balances of the Senior
                  Certificates and the Class C Priority Principal Amount are reduced
                  to
                  zero;

              

      

       

      
        
          
          

        

        
          82

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (B)

              	
                second,
                  from the remaining Principal Distribution
                  Amount:

              

      

       

      
        	 	
                (1)

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

              

      

       

      
        	 	
                (2)

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

              

      

       

      
        	 	
                (3)

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

              

      

       

      
        	 	
                (4)

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

              

      

       

      
        	 	
                (5)

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

              

      

       

      
        	 	
                (6)

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

              

      

       

      
        	 	
                (7)

              	
                to
                  the holders of the Class M-7 Certificates, until the Class 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.

              

      

       

      (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 will be distributed in the following
        amounts and order of priority:

       

      
        	 	
                (A)

              	
                first,
                  from the Principal Distribution Amount, to the holder of the Senior
                  Certificates, and, to the extent of the Class C Priority Principal
                  Amount,
                  to the holders of the Class C Certificates, the Senior Principal
                  Distribution Amount, pro
                  rata,
                  based on their respective Class Principal Balances, in the case
                  of the
                  Senior Certificates, and based on the Class C Priority Principal
                  Amount,
                  in the case of the Class C Certificates, immediately prior to such
                  Distribution Date, until the Class Principal Balances of the Senior
                  Certificates and the Class C Priority Principal Amount are reduced
                  to
                  zero;

              

      

       

      
        
          
          

        

        
          83

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (B)

              	
                second,
                  from the remaining Principal Distribution
                  Amount,

              

      

       

      
        	 	
                (1)

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

              

      

       

      
        	 	
                (2)

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

              

      

       

      
        	 	
                (3)

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

              

      

       

      
        	 	
                (4)

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

              

      

       

      
        	 	
                (5)

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

              

      

       

      
        	 	
                (6)

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

              

      

       

      
        	 	
                (7)

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

              

      

       

      
        	 	
                (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
                  Class 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
                  Class 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;

              

      

       

      
        
          
          

        

        
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                (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 Class
                  prior to such Distribution Date as a distribution in respect of
                  principal;

              

      

       

      
        	 	
                (D)

              	
                to
                  the Holders of the Senior Certificates and the Subordinate Certificates,
                  the amount of any Interest Shortfalls computed without regard to
                  any
                  Relief Act Reductions 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;
                  

              

      

       

      
        	 	
                (E)

              	
                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 computed without regard
                  to any
                  Relief Act Reductions previously allocated
                  thereto;

              

      

       

      
        	 	
                (F)

              	
                to
                  the Basis Risk Reserve Fund, any Required Reserve Fund Deposit
                  for such
                  Distribution Date, and then from the Basis Risk Reserve Fund, 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;

              

      

       

      
        	 	
                (G)

              	
                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;

              

      

       

      
        	 	
                (H)

              	
                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;

              

      

       

      
        	 	
                (I)

              	
                if
                  on any Distribution Date after the Distribution Date in November
                  2026 the
                  aggregate Stated Principal Balance of Mortgage Loans having 40-year
                  original terms to maturity is greater than the Overcollateralization
                  Target Amount for that Distribution Date, to the Senior Certificates
                  and
                  the Subordinate Certificates, in the priority set forth under Section
                  5.01(a)(ii) or Section 5.01(a)(iii), as applicable, as though a
                  Trigger
                  Event were in effect for such Distribution
                  Date;

              

      

       

      
        
          
          

        

        
          85

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (J)

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

              

      

       

      
        	 	
                (K)

              	
                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)(J) and 5.01(a)(iv)(K) 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)

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

              

      

       

      
        	 	
                (B)

              	
                to
                  the Holder of the Class R Certificate, remaining
                  amounts.

              

      

       

      (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) 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.

       

      (d) 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.

       

      (e) 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 A-1A and Class A-1B 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;

       

      
        
          
          

        

        
          86

          
            

          

        

        
          
          

        

      

      

       

      (ii) to
        the
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class
        M-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;

       

      (iii) to
        the
        Class A-1A and Class A-1B 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);
        

       

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

       

      (v) 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;

       

      (f) Distributions
        from Yield Maintenance Account.
        On each
        Distribution Date beginning on the Distribution Date in December 2008 through
        and including the Distribution Date in August 2012, 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 5.07(c) below
        as
        follows:

       

      (i) to
        the
        Senior Certificates, pro
        rata,
        any
        Allocated Realized Loss Amounts to the extent unpaid;

       

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

       

      (iii) to
        the
        Class A-1A and Class A-1B Certificates, pro
        rata,
        any
        Basis Risk Shortfalls to the extent unpaid;

       

      (iv) to
        the
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class
        M-7
        Certificates, sequentially, in that order, any Basis Risk Shortfalls to the
        extent unpaid;

       

      (v) to
        the
        Class A-1A and Class A-1B Certificates, pro
        rata,
        any
        Unpaid Interest Shortfall Amounts to the extent unpaid;

       

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

       

      
        
          
          

        

        
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      (vii) to
        the
        Senior Certificates and the Subordinate Certificates, any amounts necessary
        to
        maintain the applicable Overcollateralization Target Amount (provided that
        the
        amount distributable on any Distribution Date pursuant to this subsection
        (vii)
        cannot exceed the excess, if any, of (x) all Realized Losses for such
        Distribution Date and for all prior Distribution Dates over (y) the sum of
        all
        amounts distributed pursuant to this subsection (vii) on all prior Distribution
        Dates); and

       

      (viii) to
        the
        Senior Certificates, in reduction of their Class Principal Balances (after
        giving effect to allocation of Net Deferred Interest for such Distribution
        Date), pro
        rata,
        any
        Allocated Net Deferred Interest Amounts remaining unpaid on such Distribution
        Date;

       

      (g) 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.

       

      (h) On
        each
        Distribution Date, the Trustee, as Paying Agent, shall withdraw the Class
        ES
        Distributable Amount from funds on deposit in the Distribution Account and
        shall
        distribute such amounts to the Holders of the Class ES
        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 MTA Certificates or LIBOR
        Certificates pursuant to the preceding sentence shall be allocated to the
        Class
        C Certificates and thereby increase the Overcollateralized Amount.

       

      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 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:

       

      (i) first,
        to Net
        Monthly Excess Cashflow;

       

      
        
          
          

        

        
          88

          
            

          

        

        
          
          

        

      

      

       

      
        	 	
                (ii)

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

              

      

       

      
        	 	
                (iii)

              	
                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

              

      

       

      
        	 	
                (iv)

              	
                fourth,
                  to
                  the Class A-1A and Class A-1B Certificates, sequentially, first,
                  to the
                  Class A-1B Certificates; and second, to the Class A-1A Certificates,
                  in
                  that order, until the Class Principal Balance of each Class is
                  reduced to
                  zero, for so long as such certificates are
                  outstanding.

              

      

       

      (c) The
        Class
        Principal Balance of the Class of Subordinate 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.”

       

      SECTION
        5.04. Statements. 

       

      (a) On
        each
        Distribution Date, the Trustee shall make available to each Certificateholder,
        the Yield Maintenance Provider, the Seller, the Credit Risk Manager, 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 shall be based on information
        provided by the Yield Maintenance Provider regarding any Yield Maintenance
        Distributable Amounts required to be paid by the Yield Maintenance Provider
        for
        the related Distribution Date pursuant to the Yield Maintenance Agreement.
        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;

       

      
        
          
          

        

        
          89

          
            

          

        

        
          
          

        

      

      

       

      (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 Credit Risk Manager’s Fees for the
        related Due Period;

       

      (v) the
        amount of Advances for the related Due Period and the amount of unreimbursed
        Advances;

       

      (vi) the
        Net
        WAC at the Close of Business at the end of the related Due Period;

       

      (vii) the
        Pool
        Balance for such Distribution Date;

       

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

       

      (ix) 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) 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;

       

      (xi) 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) 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 as of the Close of Business of the last day of the preceding Due
        Period;

       

      (xiii) the
        aggregate amount of Principal Prepayments made during the related Prepayment
        Period;

       

      (xiv) the
        aggregate amount of Realized Losses incurred during the related Due Period
        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;

       

      
        
          
          

        

        
          90

          
            

          

        

        
          
          

        

      

      

       

      (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) 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) 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) the
        Available Funds;

       

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

       

      (xx) 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) current
        Recoveries;

       

      (xxii) cumulative
        Recoveries; 

       

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

       

      (xxiv) the
        amount of Deferred Interest and Net Deferred Interest, if any;

       

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

       

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

       

      (xxvii) 
        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;

       

      (xxviii) the
        Overcollateralized Amount for that Distribution Date;

       

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

       

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

       

      
        
          
          

        

        
          91

          
            

          

        

        
          
          

        

      

      

       

      (xxxi) the
        amount of any Class P Distributable Amount and the amount of any Class ES
        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.

       

      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 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 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.

       

      
        
          
          

        

        
          92

          
            

          

        

        
          
          

        

      

      

       

      (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.

       

      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 A-1A, Class A-1B, Class M-1, Class
        M-2,
        Class M-3, Class M-4, Class M-5, Class M-6 and Class M-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)(F).

       

      (c) On
        any
        Distribution Date for which a Basis Risk Shortfall exists with respect to
        the
        Class A-1A, Class A-1B, Class M-1, Class M-2, Class M-3, Class M-4, Class
        M-5,
        Class M-6 or Class M-7 Certificates, the Trustee, as Paying Agent for the
        Trustee, shall withdraw (i) first,
        from
        the Basis Risk Reserve Fund, the amount of such Basis Risk Shortfall for
        such
        Classes of Certificates for distribution on such Distribution Date pursuant
        to
        Section 5.01(f), and (ii) second,
        from
        the Yield Maintenance Account, the amount of any such remaining Basis Risk
        Shortfall for distribution on such Distribution Date to the Class A-1A and
        Class
        A-1B 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 M-1, Class M-2, Class M-3, Class
        M-4,
        Class M-5, Class M-6 and Class M-7 Certificates in that order up to the amount
        of Basis Risk Shortfalls due each such Class for such Distribution
        Date.

       

      
        
          
          

        

        
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      (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.

       

      (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. 

       

      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 allocated to such Class for such Distribution
        Date
        as follows:

       

      (i) first,
        the Class Principal Balance of each Class of Senior Certificates will be
        increased, pro
        rata
        based on
        Net Realized Loss for such Class for such Distribution Date, and

       

      (ii) second,
        the Class Principal Balance of each Class of Subordinate Certificates will
        be
        increased in order of seniority, up to the Net Realized Loss for each such
        Class
        for such Distribution Date.

       

      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 ES, Class P, and Class R Certificates).
        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.

       

      
        
          
          

        

        
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      (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(e).

       

      (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(e). 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(e).

       

      (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.

       

      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. 

       

      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.

       

      
        
          
          

        

        
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      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 and the Class
        M-7
        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
        and the Class M-7 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 the Class M-7 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 and the Class M-7 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.

       

      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 and the
        Class
        M-7 Certificates to receive payments from the Yield Maintenance Trust Account
        may have more than a de
        minimis
        value.

       

      
        
          
          

        

        
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      SECTION
        5.12. 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-SB1” (the “Yield Maintenance Account”)
        for the benefit of the Offered Certificates and the Class M-7 Certificates.
        The
        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 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(f). 

       

      If
        the
        Seller or its affiliate is the Holder of an Offered Certificate or Class
        M-7
        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.

       

      The
        Administrator and the Trustee shall terminate the Yield Maintenance Agreement
        upon the occurrence of an event of default or termination event under the
        Yield
        Maintenance Agreement 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 the Class
        M-7
        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 and
        the
        Class M-7 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,
        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.

       

      
        
          
          

        

        
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      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 A-1A, Class A-1B,
        Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class
        M-7
        Certificates; provided,
        however,
        that
        the Offered Certificates and the Class M-7 Certificates shall only be sold
        to
        initial investors in minimum total investment amounts of $100,000. The Class
        C,
        Class ES, Class P and Class R Certificates are issuable only in a Percentage
        Interest of 100%.

       

      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, C-3 or C-4 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,
        C-3
        or C-4 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.

       

      
        
          
          

        

        
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      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.

       

      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.

       

      
        
          
          

        

        
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      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.

       

      (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.

       

      
        
          
          

        

        
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      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. 

       

      
        
          
          

        

        
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      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).

       

      No
        transfer of an ERISA-Restricted Trust Certificate prior to the termination
        of
        the Final Maturity Reserve Trust and the 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 and the 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 or Private Placement Memorandum, as applicable,
        and
        this Agreement.

       

      
        
          
          

        

        
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      (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.

       

      
        
          
          

        

        
          103

          
            

          

        

        
          
          

        

      

      

       

      (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 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.

       

      
        
          
          

        

        
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      (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.

       

      (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.

       

      
        
          
          

        

        
          105

          
            

          

        

        
          
          

        

      

      

       

      (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
        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.

       

      
        
          
          

        

        
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      SECTION
        6.04. Persons Deemed Owners.

       

      The
        Depositor, the Trustee, the Certificate Registrar, the Paying Agent, any
        NIMS
        Insurer and any agent of the Depositor, the Trustee, the Certificate Registrar,
        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 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.

       

      
        
          
          

        

        
          107

          
            

          

        

        
          
          

        

      

      

       

      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 11.07(b)) 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 Seller and the Credit Risk Manager. 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 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. 

       

      SECTION
        7.02. Trustee to Act.

       

      (a) From
        and
        after the date the Servicer (and the Trustee, if notice is sent by 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.
        

       

      
        
          
          

        

        
          108

          
            

          

        

        
          
          

        

      

      

       

      (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 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.

       

      (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.

       

      SECTION
        7.04. Notification to Certificateholders.

       

      
        
          
          

        

        
          109

          
            

          

        

        
          
          

        

      

      

       

      (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.

       

      (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 and any
        NIMS
        Insurer notice of such occurrence unless such Event of Default shall have
        been
        waived or cured.

       

      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 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:

       

      
        
          
          

        

        
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      (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;

       

      (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.

       

      
        
          
          

        

        
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      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;

       

      
        
          
          

        

        
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      (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; 

       

      (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 and the Servicing 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 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.

       

      
        
          
          

        

        
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      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 incurred or made
        by the
        Trustee under each of the Yield Maintenance Allocation Agreement and the
        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.

       

      
        
          
          

        

        
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      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.

       

      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 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 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, in each case, by written instrument,
        with a copy of such written instrument delivered to (i) the resigning Trustee,
        (ii) the successor Trustee and (iii) any NIMS 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 and (iii) to any NIMS Insurer.

       

      
        
          
          

        

        
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      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. 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 and
        its
        predecessor Trustee, 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 and the predecessor Trustee 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 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.

       

      
        
          
          

        

        
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      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, 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.

       

      
        
          
          

        

        
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      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 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 and any requesting Certificateholder with its most recent audited
        financial statements. The Trustee shall cooperate fully with the Seller,
        the
        Depositor and such Certificateholder and shall, subject to the first sentence
        of
        this Section 8.12(b), make available to the Seller, the Depositor 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 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.

       

      SECTION
        8.13. Suits for Enforcement.

       

      
        
          
          

        

        
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      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 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 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 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:

       

      
        
          
          

        

        
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      (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

       

      (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 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, 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 or
        the
        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 and the
        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
        or
        the 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. 

       

      SECTION
        8.20. Resignation or Removal of the Administrator.

      
        
          
          

        

        
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      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 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.
        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 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 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.

       

      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.

       

      
        
          
          

        

        
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      (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. If two or more Classes of Regular
        Certificates are 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.

       

      
        
          
          

        

        
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      (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 and the MTA Certificates to receive distributions
        to
        cover Basis Risk Shortfalls from either the Basis Risk Reserve Fund or the
        Yield
        Maintenance Account 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 and the MTA Certificates. Thus, the LIBOR Certificates and the
        MTA
        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.

       

      
        
          
          

        

        
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      (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 and the 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 and the Yield
        Maintenance Account.

       

      (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.

       

      ARTICLE
        X

       

      TERMINATION

       

      SECTION
        10.01. Termination.

       

      
        
          
          

        

        
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      (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, (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 and the MTA
        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 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 if a draw on the related policy will
        be
        made on the Final Distribution Date.

       

      
        
          
          

        

        
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      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.

       

      Notwithstanding
        anything provided herein to the contrary, upon the exercise of the Terminator
        of
        its Call Option, the Servicing Rights Owner shall retain any and all related
        Servicing Rights with respect to the Mortgage Loans.

       

      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.

       

      (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 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.

       

      
        
          
          

        

        
          126

          
            

          

        

        
          
          

        

      

      

       

      (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.

       

      (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.

       

      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 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.

       

      
        
          
          

        

        
          127

          
            

          

        

        
          
          

        

      

      

       

      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.

       

      ARTICLE
        XII

       

      MISCELLANEOUS
        PROVISIONS

       

      SECTION
        12.01. Amendment.

       

      This
        Agreement may be amended from time to time by the Seller, the Depositor,
        the
        Credit Risk Manager and the Trustee (with the consent of any NIMS Insurer)
        without the consent of the Certificateholders, (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 or the Private Placement Memorandum, as applicable; 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 Credit Risk Manager 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
        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,
        is permitted by the Agreement and all the conditions precedent, if any, have
        been complied with, delivered to the Trustee and any NIMS Insurer.

       

      
        
          
          

        

        
          128

          
            

          

        

        
          
          

        

      

      

       

      In
        addition, this Agreement may be amended from time to time by Seller, the
        Depositor, the Credit Risk Manager and the Trustee with the consent of any
        NIMS
        Insurer and the Majority Certificateholders 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.

       

      Notwithstanding
        any provision of this Agreement to the contrary, each of the Trustee and
        the
        NIMS Insurer shall not consent to any amendment to 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 an Adverse REMIC Event 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.

       

      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 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.

       

      
        
          
          

        

        
          129

          
            

          

        

        
          
          

        

      

      

       

      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.

       

      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.

       

      
        
          
          

        

        
          130

          
            

          

        

        
          
          

        

      

      

       

      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 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 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 and the Trustee in writing by the Depositor and (d)
        in
        the case of the Credit Risk Manager, Clayton Fixed Income Services Inc.,
        1700
        Lincoln Street, Suite 1600, Denver, Colorado 80203, Attention: General Counsel.
        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.

       

      SECTION
        12.07. Article and Section References.

       

      
        
          
          

        

        
          131

          
            

          

        

        
          
          

        

      

      

       

      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 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
        DBRS, to:

      

      Dominion
        Bond Rating Service

      55
        Broadway, 15th
        Floor

      New
        York,
        New York 10006 

      
        
          
          

        

        
          132

          
            

          

        

        
          
          

        

      

      

      

      If
        to
        Moody’s, to:

      

      Moody’s
        Investors Service, Inc.

      99
        Church
        Street 

      New
        York,
        New York 10007

      Attention:
        Residential Mortgages

      

      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
        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 the
        Yield
        Maintenance Agreement, the Holders of the Certificates and the NIMS Insurer,
        any
        benefit or any legal or equitable right, power, remedy or claim under this
        Agreement.

       

      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.

      
        
          
          

        

        
          133

          
            

          

        

        
          
          

        

      

      

       

       

      (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 or Private Placement
        Memorandum 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 or Private Placement Memorandum (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.

       

      
        
          
          

        

        
          134

          
            

          

        

        
          
          

        

      

      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 GMAC’s rights or duties thereunder unless it shall have first received 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. 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.

      

      SECTION
        12.15. Tax Treatment of the Class ES Certificates.

       

      It
        is the
        intent of the parties hereto that the segregated pool of assets consisting
        of
        any collections in respect of the Class ES Distributable Amount payable to
        the
        Class ES Certificate constitutes, for federal income tax purposes, a grantor
        trust as described in Subpart E of Part I of Subchapter J of the Code and
        Treasury Regulation §301.7701-4(c)(2). The Trustee shall prepare, sign and file,
        all of the tax returns in respect of such grantor trusts. The expenses of
        preparing and filing such returns shall be borne by the Trustee without any
        right of reimbursement therefor. The Trustee shall comply with each such
        requirement by filing Form 1041 or other applicable form.

      

       

      
        
          
          

        

        
          135

          
            

          

        

        
          
          

        

      

      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:
                  Shakti Radhakishun

                Title:
                  Senior Vice President

              
	 	 

      

      
         

        
          	 	 	 
	 	
                  GREENWICH
                    CAPITAL FINANCIAL  PRODUCTS,
                    INC., 
as Seller

                
	 
 	 
 	 
 
	 	By:  	/s/ Shakti Radhakishun
	 	
                  

                  Name: 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

                        
	 	 

                

              

            

          

        

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      
         

        
          	 	 	 
	 	
                  CLAYTON
                    FIXED INCOME SERVICES INC., 
as Credit Risk Manager

                
	 
 	 
 	 
 
	 	By:  	/s/ Kevin J. Kanouff
	 	
                  

                  Name:
                    Kevin J. Kanouff

                  Title:
                    President and General Counsel

                
	 	 

        

         

      

      
        
          
          

        

        
          
          

          
            

          

        

        
          
          

        

      

      SCHEDULE
        I

      

      MORTGAGE
        LOAN SCHEDULE

      
        
          
          

        

        
          138

          
            

          

        

        
          
          

        

      

      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 “BBB-” 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.

         

        
          
            
            

          

          
            A-1

            
              

            

          

          
            
            

          

        

        

         

        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:

                   

                	 	
                  October
                    1, 2006

                   

                
	
                  First
                    Distribution Date:

                   

                	 	
                  November
                    20, 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:

                   

                	 	
                  [41162B
                    [    ]

                   

                
	
                  Class:

                   

                	 	
                  A-1
                    [[    ]]

                   

                
	
                  Assumed
                    Final Distribution Date:

                	 	
                  December
                    2036

                
	 	 	 

        

        

        
          
            
            

          

          
            A-2

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust 

        Mortgage
          Loan Pass-Through Certificates, Series 2006-SB1

        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 October 1, 2006 (the
          “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”), Clayton Fixed Income Services Inc., as credit risk manager (the
“Credit Risk Manager”) 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 (Public)

         

        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”).

         

        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.

         

        THIS
          CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
          REFERRED TO HEREIN.

         

        
          
            
            

          

          
            B-1

            
              

            

          

          
            
            

          

        

        

         

        
          	
                  Certificate
                    No.:

                   

                	 	
                  1

                   

                
	
                  Cut-Off
                    Date:

                   

                	 	
                  October
                    1, 2006

                   

                
	
                  First
                    Distribution Date:

                   

                	 	
                  November
                    20, 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:

                   

                	 	
                  41162B
                    [    ]

                   

                
	
                  Class:

                   

                	 	
                  B-[   ]

                   

                
	
                  Assumed
                    Final Distribution Date:

                	 	
                  December
                    2036

                

        

        

        
          
            
            

          

          
            B-2

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-SB1

        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 October 1, 2006 (the
          “Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”), Clayton Fixed Income Services Inc., as credit risk manager (the
“Credit Risk Manager”) 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-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

         

        

         

        

         

        

         

        

         

        
          
            
            

          

          
            B-4

            
              

            

          

          
            
            

          

        

        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:

                   

                	 	
                  October
                    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-SB1

        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 October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Clayton
          Fixed Income Services Inc., as credit risk manager (the “Credit Risk Manager”)
          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:

                   

                	
                  October
                    1, 2006

                   

                
	
                  First
                    Distribution Date:

                   

                	
                  November
                    20, 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-SB1

        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 October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Clayton
          Fixed Income Services Inc., as credit risk manager (the “Credit Risk Manager”)
          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:

                   

                	 	
                  October
                    1, 2006

                   

                
	
                  Percentage
                    Interest:

                	 	
                  100%

                
	 	 	 
	
                  Class:

                	 	
                  R

                
	 	 	 

        

        

        

        
          
            
            

          

          
            C-3-1

            
              

            

          

          
            
            

          

        

        HarborView
          Mortgage Loan Trust

        Mortgage
          Loan Pass-Through Certificates, Series 2006-SB1

        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 October 1, 2006 (the “Agreement”)
          among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
          Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Clayton
          Fixed Income Services Inc., as credit risk manager (the “Credit Risk Manager”)
          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-SB1

        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-SB1 (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 November 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 and Servicing
          Agreement dated as of October 1, 2006 among Greenwich Capital Acceptance,
          Inc.,
          as Depositor, Greenwich Capital Financial Products, Inc., as Seller, Clayton
          Fixed Income Services Inc., as Credit Risk Manager and Deutsche Bank National
          Trust Company, as Trustee (the “Pooling and Servicing 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-SB1

                

        

        

        Ladies
          and Gentlemen:

         

        Pursuant
          to Section 2.01 of the Pooling and Servicing Agreement dated as of October
          1,
          2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich
          Capital
          Financial Products, Inc., as Seller, Clayton Fixed Income Services Inc.,
          as
          Credit Risk Manager 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-SB1 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-SB1 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 October 1, 2006, among Greenwich
                    Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                    Products, Inc., as Seller, Clayton Fixed Income Services Inc.,
                    as Credit
                    Risk Manager and Deutsche Bank National Trust Company, as Trustee,
                    HarborView Mortgage Loan Trust
                    Mortgage Loan Pass-Through Certificates, Series
                    2006-SB1

                

        

         

        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 October 1, 2006, among Greenwich
                    Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                    Products, Inc., as Seller, Clayton Fixed Income Services Inc.,
                    as Credit
                    Risk Manager and Deutsche Bank National Trust Company, as Trustee,
                    HarborView Mortgage Loan Trust
                    Mortgage Loan Pass-Through Certificates, Series
                    2006-SB1

                

        

         

        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-SB1, 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:
          GC06SB1

         

         

        
          	 	
                  Re:

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
                    Series 2006-SB1, 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 October 1, 2006 (the “Agreement”) among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller, Clayton Fixed Income Services Inc., as Credit Risk Manager 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:
          GC06SB1

        

        

        

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
                    Series 2006- SB1, 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 October 1, 2006 (the “Agreement”) among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller, Clayton Fixed Income Services Inc., as Credit Risk Manager 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:
          GC06SB1

         

        
          	 	
                  Re:
                    

                   

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through
                    Certificates, Series 2006-SB1, 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:
          GC06SB1

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through
                    Certificates, Series 2006-SB1, 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.

         

        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.

        
          
            
            

          

          
            J-2-4

            
              

            

          

          
            
            

          

        

         

        
          

          
            	 	 	 
	 	 

	 	
                    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: 
	 	Date: 	 
	 	
                     

                  	 

          

          
            

            
              	 	 	 
	 	 

	 	
                      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-SB1

        

        Deutsche
          Bank National Trust Company

        One
          Federal Street

        Boston,
          MA 02110 

         

        
          	 	
                  Re:
                    

                   

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through
                    Certificates, Series 2006-SB1, 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-SB1, 

        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 October 1, 2006, relating to the
                    above-referenced Certificates, among Greenwich Capital Acceptance,
                    Inc.,
                    as Depositor, Greenwich Capital Financial Products, Inc., as
                    Seller,
                    Clayton Fixed Income Services Inc., as Credit Risk Manager 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:                                                                         &
amp;
          amp;
          #160;         

        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  .

         

        

        

        

                                                                                       &am
p;am
          p;#1 60;     

        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-SB1

        

        Deutsche
          Bank National Trust Company

        One
          Federal Street

        Boston,
          MA 02110 

         

        
          	 	
                  Re:
                    

                	
                  HarborView
                    Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
                    Series 2006-SB1,

                

        

        

        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

         

        [Reserved].

         

        

        

        
          
            
            

          

          
            N-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          O

         

        TRANSACTION
          PARTIES

         

        
          	
                  Custodian

                   

                	
                  Deutsche
                    Bank National Trust Company

                   

                
	
                  Depositor

                   

                	
                  Greenwich
                    Capital Acceptance, Inc.

                   

                
	
                  Originator

                   

                	
                  Secured
                    Bankers Mortgage Company 

                   

                
	
                  Servicer

                   

                	
                  GMAC
                    Mortgage, LLC

                   

                
	
                  Sponsor
                    and Seller

                   

                	
                  Greenwich
                    Capital Financial Products, Inc.

                   

                
	
                  Credit
                    Risk Manager

                   

                	
                  Clayton
                    Fixed Income Services 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-SB1

        

        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 and Servicing Agreement is included in these
          reports.

         

        Capitalized
          terms used but not defined herein have the meanings ascribed to them in
          the
          Pooling and Servicing Agreement, dated October 1, 2006 (the “Pooling and
          Servicing Agreement”) among the Depositor, Greenwich Capital Financial Products,
          Inc., as the seller (the “Seller”), Clayton Fixed Income Services Inc., as
          credit risk manager (the “Credit Risk Manager”) and the Trustee, as
          trustee.

         

        Deutsche
          Bank National Trust Company,

        as
          Trustee 

        

        By:___________________________

        [Name]
          

        [Title]

        [Date]

        

         

        

         

        
          
            
            

          

          
            P-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          Q

        FORM
          OF CERTIFICATION REGARDING SERVICING CRITERIA TO BE ADDRESSED IN REPORT
          ON
          ASSESSMENT OF COMPLIANCE

        

        The
          assessment of compliance to be delivered by Deutsche Bank National Trust
          Company
          (“Deutsche Bank”), in its capacities as Trustee, and Clayton Fixed Income
          Services Inc. (“Clayton”), in its capacities as Credit Risk Manager, shall
          address, at a minimum, the criteria identified as below as “Applicable Servicing
          Criteria:”

         

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Reporting
                    Criteria for Clayton

                	
                  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

                

        

        
          
            
            

          

          
            Q-1

            
              

            

          

          
            
            

          

        

        

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Reporting
                    Criteria for Clayton

                	
                  Applicable

                  Servicing

                  Criteria
                    for Deutsche Bank

                
	
                  Reference

                	
                  Criteria

                	 	 
	
                  1122(d)(2)(vi)

                	
                  Unissued
                    checks are safeguarded so as to prevent unauthorized
                    access.

                	 	 
	
                  1122(d)(2)(vii)

                	
                  Reconciliations
                    are prepared on a monthly basis for all asset-backed securities
                    related
                    bank accounts, including custodial accounts and related bank
                    clearing
                    accounts. These reconciliations are (A) mathematically accurate;
                    (B)
                    prepared within 30 calendar days after the bank statement cutoff
                    date, or
                    such other number of days specified in the transaction agreements;
                    (C)
                    reviewed and approved by someone other than the person who prepared
                    the
                    reconciliation; and (D) contain explanations for reconciling
                    items. These
                    reconciling items are resolved within 90 calendar days of their
                    original
                    identification, or such other number of days specified in the
                    transaction
                    agreements.

                	 	
                  X

                
	 	
                  Investor
                    Remittances and Reporting

                	 	 
	
                  1122(d)(3)(i)

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

                	
                  X

                	 
	
                  1122(d)(3)(ii)

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

                	 	
                  X

                
	
                  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

                

        

        
          
            
            

          

          
            Q-2

            
              

            

          

          
            
            

          

        

        

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Reporting
                    Criteria for Clayton

                	
                  Applicable

                  Servicing

                  Criteria
                    for Deutsche Bank

                
	
                  Reference

                	
                  Criteria

                	 	 
	
                  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.

                	 	 
	
                  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.

                	 	 

        

        
          
            
            

          

          
            Q-3

            
              

            

          

          
            
            

          

        

        

        
          	
                  Servicing
                    Criteria

                	
                  Applicable

                  Reporting
                    Criteria for Clayton

                	
                  Applicable

                  Servicing

                  Criteria
                    for Deutsche Bank

                
	
                  Reference

                	
                  Criteria

                	 	 
	
                  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-4

            
              

            

          

          
            
            

          

        

        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

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Responsible
                    Party

                
	 	 	
                  (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

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                   

                	
                  Item

                   

                	
                  Description

                   

                	
                  Responsible
                    Party

                   

                
	 	 	
                  (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

                   

                
	
                  2

                   

                	
                  Legal
                    Proceedings

                   

                

        

        
          
            
            

          

          
            R-3

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Responsible
                    Party

                
	 	 	
                  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

                  Originator

                  Custodian

                  Credit
                    Risk Manager

                	
                   

                  
 

                  Seller

                  Depositor

                  Trustee

                  Depositor

                  Servicer

                  Originator

                  Custodian

                  Credit
                    Risk Manager

                
	
                  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

                   

                

        

        
          
            
            

          

          
            R-4

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                	
                  Item

                	
                  Description

                	
                  Responsible
                    Party

                
	 	 	
                  *This
                    information need only be reported on the Form 10-D for the distribution
                    period in which updated information is required pursuant to the
                    Item.

                   

                	 
	
                  7

                   

                	
                  Significant
                    Enhancement Provider Information

                   

                	 
	
                  Item
                    1114(b)(2) - Credit Enhancement Provider Financial
                    Information*

                  Determining
                    applicable disclosure threshold

                  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

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                   

                	
                  Item

                   

                	
                  Description

                   

                	
                  Responsible
                    Party

                   

                
	 	
                  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

                   

                	 

        

        
          
            
            

          

          
            R-6

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                   

                	
                  Item

                   

                	
                  Description

                   

                	
                  Responsible
                    Party

                   

                
	 	 	
                  Disclosure
                    is required of any amendment “to the governing documents of the issuing
                    entity”

                   

                	
                  Depositor

                   

                
	
                  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 Trustee

                   

                	 
	
                  Requires
                    disclosure of any removal, replacement, substitution or addition
                    of any
                    trustee, 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

                   

                
	
                  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

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                   

                	
                  Item

                   

                	
                  Description

                   

                	
                  Responsible
                    Party

                   

                
	 	
                  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

                  Originator

                  Custodian

                  Credit
                    Risk Manager

                   

                	
                  Seller

                  Depositor

                  Trustee

                  Issuing
                    entity

                  Servicer

                  Originator

                  Custodian

                  Credit
                    Risk Manager

                   

                

        

        
          
            
            

          

          
            R-8

            
              

            

          

          
            
            

          

        

        

        
          	
                  Form

                   

                	
                  Item

                   

                	
                  Description

                   

                	
                  Responsible
                    Party

                   

                
	 	 	
                  Item
                    1119 - Affiliations and relationships between the following entities,
                    or
                    their respective affiliates, that are material to
                    Certificateholders:

                  Seller

                  Depositor

                  Trustee

                   

                   

                  Issuing
                    entity

                  Originator

                  Custodian

                  Credit
                    Enhancer/Support Provider, if any 

                  Significant
                    Obligor, if any

                  Credit
                    Risk Manager

                   

                	
                   

                   

                  Seller

                  Depositor

                  Trustee
                    (only with respect to affiliations and relationships with the
                    sponsor,
                    depositor or issuing entity)

                  Issuing
                    entity

                  Originator

                  Custodian

                  Depositor

                  Depositor

                  Credit
                    Risk Manager

                   

                
	
                  Item
                    1122 - Assessment of Compliance with Servicing Criteria

                   

                	
                  Each
                    Party participating in the servicing function

                   

                
	
                  Item
                    1123 - Servicer Compliance Statement

                   

                	
                  Trustee

                   

                

        

        

        

        

        
          
            
            

          

          
            R-9

            
              

            

          

          
            
            

          

        

        EXHIBIT
          S
          -1

         

        FORM
          OF WATCHLIST REPORT

         

        
          
            
            

          

          
            S-1-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          S-2

        

        FORM
          OF LOSS SEVERITY REPORT

        
          
            
            

          

          
            S-2-1

            
              

            

          

          
            
            

          

        

        

        EXHIBIT
          S-3

        

        FORM
          OF PREPAYMENT PREMIUMS REPORT

        
          
            
            

          

          
            S-3-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          S-4

        

        FORM
          OF ANALYTICS REPORT

        

        
          
            
            

          

          
            S-4-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          T

         

        FORM
          OF CERTIFICATION TO BE PROVIDED BY THE CREDIT RISK MANAGER

         

        Re:
          HarborView Mortgage Loan Trust Mortgage Loan Pass-Through Certificates,
          Series
          2006-SB1 issued pursuant to the Pooling and Servicing Agreement dated as
          of
          October 1, 2006, 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”), Clayton Fixed
          Income Services Inc., as credit risk manager and Deutsche Bank National
          Trust
          Company a national banking association, as trustee (the “Trustee”).

         

        CLAYTON
          FIXED INCOME SERVICES INC. (the “Credit Risk Manager”) certifies to the
          Depositor, the Sponsor, the Trustee, and [10-K Signatory Entity] its officers,
          directors and affiliates, and with the knowledge and intent that they will
          rely
          upon this certification, that:

         

        
          	 	
                  1.

                	
                  Based
                    on the knowledge of the Credit Risk Manager, taken as a whole,
                    the
                    information in the reports provided during the calendar year
                    immediately
                    preceding the date of this certificate (the “Relevant Year”) by the Credit
                    Risk Manager pursuant to the Master Consulting Agreement dated
                    as of April
                    18, 2005 (the
                    “Master Consulting Agreement”), by and between the Credit Risk Manager and
                    Greenwich Capital Markets, Inc. and pursuant to Transaction Addendum
                    HarborView 2006-SB1 (the “Transaction Addendum HarborView 2006-SB1”), does
                    not contain any untrue statement of a material fact or omit to
                    state a
                    material fact necessary to make the statements made, in light
                    of the
                    circumstances under which such statements were made, not misleading
                    as of
                    the date that each of such reports was provided;
                    and

                

        

         

        
          	 	
                  2.

                	
                  The
                    Credit Risk Manager has fulfilled its obligations under the Master
                    Consulting Agreement and Transaction Addendum HarborView 2006-SB1
                    throughout the Relevant Year.

                

        

         

        CLAYTON
          FIXED INCOME SERVICES INC.

         

        By:____________________________________

         

        Name:_________________________________

         

        Title:
          _________________________________

         

        

         

        
          
            
            

          

          
            T-1

            
              

            

          

          
            
            

          

        

        EXHIBIT
          U

         

        ADDITIONAL
          DISCLOSURE NOTIFICATION

         

        Deutsche
          Bank National Trust Company

        1761
          East
          St. Andrew Place

        Santa
          Ana, California 92705

        Attention:
          GC06SB1, HarborView Mortgage Loan Trust 2006-SB1

        Fax:
          (714) 656-2626

        E-mail:
          DBSEC.Notification@DB.com

        

        
          	
                  Attn:
                    

                   

                	
                  Corporate
                    Trust Services - HARBORVIEW MORTGAGE LOAN TRUST 2006-SB1-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 October 1, 2006, among Greenwich Capital
          Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
          as
          Seller, Clayton Fixed Income Services Inc., as Credit Risk Manager 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

            
              

            

          

          
            
            

          

        

        EXHIBIT
          W

         

        YIELD
          MAINTENANCE AGREEMENT

         

        
          
            
            

          

          
            W-1

            
              

            

          

          
            
            

          

        

        SCHEDULE
          I

         

        MORTGAGE
          LOAN SCHEDULE

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        SCHEDULE
          II

         

        FINAL
          MATURITY RESERVE SCHEDULE

         

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  November
                    2016

                	 	 	
                  28,173,691.76

                	 
	
                  December
                    2016

                	 	 	
                  27,749,429.93

                	 
	
                  January
                    2017

                	 	 	
                  27,331,423.93

                	 
	
                  February
                    2017

                	 	 	
                  26,919,582.49

                	 
	
                  March
                    2017

                	 	 	
                  26,513,815.67

                	 
	
                  April
                    2017

                	 	 	
                  26,114,034.81

                	 
	
                  May
                    2017

                	 	 	
                  25,720,152.57

                	 
	
                  June
                    2017

                	 	 	
                  25,332,082.84

                	 
	
                  July
                    2017

                	 	 	
                  24,949,740.80

                	 
	
                  August
                    2017

                	 	 	
                  24,573,042.83

                	 
	
                  September
                    2017

                	 	 	
                  24,201,906.53

                	 
	
                  October
                    2017

                	 	 	
                  23,836,250.72

                	 
	
                  November
                    2017

                	 	 	
                  23,475,995.35

                	 
	
                  December
                    2017

                	 	 	
                  23,121,061.59

                	 
	
                  January
                    2018

                	 	 	
                  22,771,371.71

                	 
	
                  February
                    2018

                	 	 	
                  22,426,849.12

                	 
	
                  March
                    2018

                	 	 	
                  22,087,418.36

                	 
	
                  April
                    2018

                	 	 	
                  21,753,005.05

                	 
	
                  May
                    2018

                	 	 	
                  21,423,535.88

                	 
	
                  June
                    2018

                	 	 	
                  21,098,938.62

                	 
	
                  July
                    2018

                	 	 	
                  20,779,142.09

                	 
	
                  August
                    2018

                	 	 	
                  20,464,076.13

                	 
	
                  September
                    2018

                	 	 	
                  20,153,671.62

                	 
	
                  October
                    2018

                	 	 	
                  19,847,860.43

                	 
	
                  November
                    2018

                	 	 	
                  19,546,575.41

                	 
	
                  December
                    2018

                	 	 	
                  19,249,750.40

                	 
	
                  January
                    2019

                	 	 	
                  18,957,320.20

                	 
	
                  February
                    2019

                	 	 	
                  18,669,220.56

                	 
	
                  March
                    2019

                	 	 	
                  18,385,388.14

                	 
	
                  April
                    2019

                	 	 	
                  18,105,760.56

                	 
	
                  May
                    2019

                	 	 	
                  17,830,276.31

                	 
	
                  June
                    2019

                	 	 	
                  17,558,874.79

                	 
	
                  July
                    2019

                	 	 	
                  17,291,496.28

                	 
	
                  August
                    2019

                	 	 	
                  17,028,081.93

                	 
	
                  September
                    2019

                	 	 	
                  16,768,573.74

                	 
	
                  October
                    2019

                	 	 	
                  16,512,914.54

                	 
	
                  November
                    2019

                	 	 	
                  16,261,048.02

                	 
	
                  December
                    2019

                	 	 	
                  16,012,918.68

                	 
	
                  January
                    2020

                	 	 	
                  15,768,471.80

                	 
	
                  February
                    2020

                	 	 	
                  15,527,653.49

                	 
	
                  March
                    2020

                	 	 	
                  15,290,410.62

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  April
                    2020

                	 	 	
                  15,056,690.84

                	 
	
                  May
                    2020

                	 	 	
                  14,826,442.57

                	 
	
                  June
                    2020

                	 	 	
                  14,599,614.97

                	 
	
                  July
                    2020

                	 	 	
                  14,376,157.94

                	 
	
                  August
                    2020

                	 	 	
                  14,156,022.11

                	 
	
                  September
                    2020

                	 	 	
                  13,939,158.82

                	 
	
                  October
                    2020

                	 	 	
                  13,725,520.14

                	 
	
                  November
                    2020

                	 	 	
                  13,515,058.81

                	 
	
                  December
                    2020

                	 	 	
                  13,307,728.27

                	 
	
                  January
                    2021

                	 	 	
                  13,103,482.64

                	 
	
                  February
                    2021

                	 	 	
                  12,902,276.70

                	 
	
                  March
                    2021

                	 	 	
                  12,704,065.90

                	 
	
                  April
                    2021

                	 	 	
                  12,508,806.32

                	 
	
                  May
                    2021

                	 	 	
                  12,316,454.69

                	 
	
                  June
                    2021

                	 	 	
                  12,126,968.37

                	 
	
                  July
                    2021

                	 	 	
                  11,940,305.34

                	 
	
                  August
                    2021

                	 	 	
                  11,756,424.19

                	 
	
                  September
                    2021

                	 	 	
                  11,575,284.11

                	 
	
                  October
                    2021

                	 	 	
                  11,396,844.88

                	 
	
                  November
                    2021

                	 	 	
                  11,221,066.88

                	 
	
                  December
                    2021

                	 	 	
                  11,047,911.06

                	 
	
                  January
                    2022

                	 	 	
                  10,877,338.92

                	 
	
                  February
                    2022

                	 	 	
                  10,709,312.56

                	 
	
                  March
                    2022

                	 	 	
                  10,543,794.59

                	 
	
                  April
                    2022

                	 	 	
                  10,380,748.19

                	 
	
                  May
                    2022

                	 	 	
                  10,220,137.07

                	 
	
                  June
                    2022

                	 	 	
                  10,061,925.46

                	 
	
                  July
                    2022

                	 	 	
                  9,906,078.13

                	 
	
                  August
                    2022

                	 	 	
                  9,752,560.34

                	 
	
                  September
                    2022

                	 	 	
                  9,601,337.87

                	 
	
                  October
                    2022

                	 	 	
                  9,452,377.00

                	 
	
                  November
                    2022

                	 	 	
                  9,305,644.48

                	 
	
                  December
                    2022

                	 	 	
                  9,161,107.58

                	 
	
                  January
                    2023

                	 	 	
                  9,018,734.02

                	 
	
                  February
                    2023

                	 	 	
                  8,878,491.99

                	 
	
                  March
                    2023

                	 	 	
                  8,740,350.16

                	 
	
                  April
                    2023

                	 	 	
                  8,604,277.64

                	 
	
                  May
                    2023

                	 	 	
                  8,470,244.00

                	 
	
                  June
                    2023

                	 	 	
                  8,338,219.26

                	 
	
                  July
                    2023

                	 	 	
                  8,208,173.85

                	 
	
                  August
                    2023

                	 	 	
                  8,080,078.66

                	 
	
                  September
                    2023

                	 	 	
                  7,953,904.99

                	 
	
                  October
                    2023

                	 	 	
                  7,829,624.57

                	 
	
                  November
                    2023

                	 	 	
                  7,707,209.51

                	 
	
                  December
                    2023

                	 	 	
                  7,586,632.37

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  January
                    2024

                	 	 	
                  7,467,866.08

                	 
	
                  February
                    2024

                	 	 	
                  7,350,883.98

                	 
	
                  March
                    2024

                	 	 	
                  7,235,659.79

                	 
	
                  April
                    2024

                	 	 	
                  7,122,167.62

                	 
	
                  May
                    2024

                	 	 	
                  7,010,381.94

                	 
	
                  June
                    2024

                	 	 	
                  6,900,277.62

                	 
	
                  July
                    2024

                	 	 	
                  6,791,829.88

                	 
	
                  August
                    2024

                	 	 	
                  6,685,014.30

                	 
	
                  September
                    2024

                	 	 	
                  6,579,806.82

                	 
	
                  October
                    2024

                	 	 	
                  6,476,183.74

                	 
	
                  November
                    2024

                	 	 	
                  6,374,121.69

                	 
	
                  December
                    2024

                	 	 	
                  6,273,597.64

                	 
	
                  January
                    2025

                	 	 	
                  6,174,588.92

                	 
	
                  February
                    2025

                	 	 	
                  6,077,073.16

                	 
	
                  March
                    2025

                	 	 	
                  5,981,028.34

                	 
	
                  April
                    2025

                	 	 	
                  5,886,432.76

                	 
	
                  May
                    2025

                	 	 	
                  5,793,265.01

                	 
	
                  June
                    2025

                	 	 	
                  5,701,504.02

                	 
	
                  July
                    2025

                	 	 	
                  5,611,129.03

                	 
	
                  August
                    2025

                	 	 	
                  5,522,119.56

                	 
	
                  September
                    2025

                	 	 	
                  5,434,455.44

                	 
	
                  October
                    2025

                	 	 	
                  5,348,116.81

                	 
	
                  November
                    2025

                	 	 	
                  5,263,084.07

                	 
	
                  December
                    2025

                	 	 	
                  5,179,337.93

                	 
	
                  January
                    2026

                	 	 	
                  5,096,859.38

                	 
	
                  February
                    2026

                	 	 	
                  5,015,629.68

                	 
	
                  March
                    2026

                	 	 	
                  4,935,630.35

                	 
	
                  April
                    2026

                	 	 	
                  4,856,843.22

                	 
	
                  May
                    2026

                	 	 	
                  4,779,250.34

                	 
	
                  June
                    2026

                	 	 	
                  4,702,834.05

                	 
	
                  July
                    2026

                	 	 	
                  4,627,576.95

                	 
	
                  August
                    2026

                	 	 	
                  4,553,461.88

                	 
	
                  September
                    2026

                	 	 	
                  4,480,471.93

                	 
	
                  October
                    2026

                	 	 	
                  4,408,590.46

                	 
	
                  November
                    2026

                	 	 	
                  4,337,801.04

                	 
	
                  December
                    2026

                	 	 	
                  28,173,691.76

                	 
	
                  January
                    2027

                	 	 	
                  27,749,429.93

                	 
	
                  February
                    2027

                	 	 	
                  27,331,423.93

                	 
	
                  March
                    2027

                	 	 	
                  26,919,582.49

                	 
	
                  April
                    2027

                	 	 	
                  26,513,815.67

                	 
	
                  May
                    2027

                	 	 	
                  26,114,034.81

                	 
	
                  June
                    2027

                	 	 	
                  25,720,152.57

                	 
	
                  July
                    2027

                	 	 	
                  25,332,082.84

                	 
	
                  August
                    2027

                	 	 	
                  24,949,740.80

                	 
	
                  September
                    2027

                	 	 	
                  24,573,042.83

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  October
                    2027

                	 	 	
                  24,201,906.53

                	 
	
                  November
                    2027

                	 	 	
                  23,836,250.72

                	 
	
                  December
                    2027

                	 	 	
                  23,475,995.35

                	 
	
                  January
                    2028

                	 	 	
                  23,121,061.59

                	 
	
                  February
                    2028

                	 	 	
                  22,771,371.71

                	 
	
                  March
                    2028

                	 	 	
                  22,426,849.12

                	 
	
                  April
                    2028

                	 	 	
                  22,087,418.36

                	 
	
                  May
                    2028

                	 	 	
                  21,753,005.05

                	 
	
                  June
                    2028

                	 	 	
                  21,423,535.88

                	 
	
                  July
                    2028

                	 	 	
                  21,098,938.62

                	 
	
                  August
                    2028

                	 	 	
                  20,779,142.09

                	 
	
                  September
                    2028

                	 	 	
                  20,464,076.13

                	 
	
                  October
                    2028

                	 	 	
                  20,153,671.62

                	 
	
                  November
                    2028

                	 	 	
                  19,847,860.43

                	 
	
                  December
                    2028

                	 	 	
                  19,546,575.41

                	 
	
                  January
                    2029

                	 	 	
                  19,249,750.40

                	 
	
                  February
                    2029

                	 	 	
                  18,957,320.20

                	 
	
                  March
                    2029

                	 	 	
                  18,669,220.56

                	 
	
                  April
                    2029

                	 	 	
                  18,385,388.14

                	 
	
                  May
                    2029

                	 	 	
                  18,105,760.56

                	 
	
                  June
                    2029

                	 	 	
                  17,830,276.31

                	 
	
                  July
                    2029

                	 	 	
                  17,558,874.79

                	 
	
                  August
                    2029

                	 	 	
                  17,291,496.28

                	 
	
                  September
                    2029

                	 	 	
                  17,028,081.93

                	 
	
                  October
                    2029

                	 	 	
                  16,768,573.74

                	 
	
                  November
                    2029

                	 	 	
                  16,512,914.54

                	 
	
                  December
                    2029

                	 	 	
                  16,261,048.02

                	 
	
                  January
                    2030

                	 	 	
                  16,012,918.68

                	 
	
                  February
                    2030

                	 	 	
                  15,768,471.80

                	 
	
                  March
                    2030

                	 	 	
                  15,527,653.49

                	 
	
                  April
                    2030

                	 	 	
                  15,290,410.62

                	 
	
                  May
                    2030

                	 	 	
                  15,056,690.84

                	 
	
                  June
                    2030

                	 	 	
                  14,826,442.57

                	 
	
                  July
                    2030

                	 	 	
                  14,599,614.97

                	 
	
                  August
                    2030

                	 	 	
                  14,376,157.94

                	 
	
                  September
                    2030

                	 	 	
                  14,156,022.11

                	 
	
                  October
                    2030

                	 	 	
                  13,939,158.82

                	 
	
                  November
                    2030

                	 	 	
                  13,725,520.14

                	 
	
                  December
                    2030

                	 	 	
                  13,515,058.81

                	 
	
                  January
                    2031

                	 	 	
                  13,307,728.27

                	 
	
                  February
                    2031

                	 	 	
                  13,103,482.64

                	 
	
                  March
                    2031

                	 	 	
                  12,902,276.70

                	 
	
                  April
                    2031

                	 	 	
                  12,704,065.90

                	 
	
                  May
                    2031

                	 	 	
                  12,508,806.32

                	 
	
                  June
                    2031

                	 	 	
                  12,316,454.69

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  July
                    2031

                	 	 	
                  12,126,968.37

                	 
	
                  August
                    2031

                	 	 	
                  11,940,305.34

                	 
	
                  September
                    2031

                	 	 	
                  11,756,424.19

                	 
	
                  October
                    2031

                	 	 	
                  11,575,284.11

                	 
	
                  November
                    2031

                	 	 	
                  11,396,844.88

                	 
	
                  December
                    2031

                	 	 	
                  11,221,066.88

                	 
	
                  January
                    2032

                	 	 	
                  11,047,911.06

                	 
	
                  February
                    2032

                	 	 	
                  10,877,338.92

                	 
	
                  March
                    2032

                	 	 	
                  10,709,312.56

                	 
	
                  April
                    2032

                	 	 	
                  10,543,794.59

                	 
	
                  May
                    2032

                	 	 	
                  10,380,748.19

                	 
	
                  June
                    2032

                	 	 	
                  10,220,137.07

                	 
	
                  July
                    2032

                	 	 	
                  10,061,925.46

                	 
	
                  August
                    2032

                	 	 	
                  9,906,078.13

                	 
	
                  September
                    2032

                	 	 	
                  9,752,560.34

                	 
	
                  October
                    2032

                	 	 	
                  9,601,337.87

                	 
	
                  November
                    2032

                	 	 	
                  9,452,377.00

                	 
	
                  December
                    2032

                	 	 	
                  9,305,644.48

                	 
	
                  January
                    2033

                	 	 	
                  9,161,107.58

                	 
	
                  February
                    2033

                	 	 	
                  9,018,734.02

                	 
	
                  March
                    2033

                	 	 	
                  8,878,491.99

                	 
	
                  April
                    2033

                	 	 	
                  8,740,350.16

                	 
	
                  May
                    2033

                	 	 	
                  8,604,277.64

                	 
	
                  June
                    2033

                	 	 	
                  8,470,244.00

                	 
	
                  July
                    2033

                	 	 	
                  8,338,219.26

                	 
	
                  August
                    2033

                	 	 	
                  8,208,173.85

                	 
	
                  September
                    2033

                	 	 	
                  8,080,078.66

                	 
	
                  October
                    2033

                	 	 	
                  7,953,904.99

                	 
	
                  November
                    2033

                	 	 	
                  7,829,624.57

                	 
	
                  December
                    2033

                	 	 	
                  7,707,209.51

                	 
	
                  January
                    2034

                	 	 	
                  7,586,632.37

                	 
	
                  February
                    2034

                	 	 	
                  7,467,866.08

                	 
	
                  March
                    2034

                	 	 	
                  7,350,883.98

                	 
	
                  April
                    2034

                	 	 	
                  7,235,659.79

                	 
	
                  May
                    2034

                	 	 	
                  7,122,167.62

                	 
	
                  June
                    2034

                	 	 	
                  7,010,381.94

                	 
	
                  July
                    2034

                	 	 	
                  6,900,277.62

                	 
	
                  August
                    2034

                	 	 	
                  6,791,829.88

                	 
	
                  September
                    2034

                	 	 	
                  6,685,014.30

                	 
	
                  October
                    2034

                	 	 	
                  6,579,806.82

                	 
	
                  November
                    2034

                	 	 	
                  6,476,183.74

                	 
	
                  December
                    2034

                	 	 	
                  6,374,121.69

                	 
	
                  January
                    2035

                	 	 	
                  6,273,597.64

                	 
	
                  February
                    2035

                	 	 	
                  6,174,588.92

                	 
	
                  March
                    2035

                	 	 	
                  6,077,073.16

                	 

        

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        

        
          	
                  Distribution
                    Date:

                	 	
                  Aggregate
                    Principal Balance ($):

                	 
	
                  April
                    2035

                	 	 	
                  5,981,028.34

                	 
	
                  May
                    2035

                	 	 	
                  5,886,432.76

                	 
	
                  June
                    2035

                	 	 	
                  5,793,265.01

                	 
	
                  July
                    2035

                	 	 	
                  5,701,504.02

                	 
	
                  August
                    2035

                	 	 	
                  5,611,129.03

                	 
	
                  September
                    2035

                	 	 	
                  5,522,119.56

                	 
	
                  October
                    2035

                	 	 	
                  5,434,455.44

                	 
	
                  November
                    2035

                	 	 	
                  5,348,116.81

                	 
	
                  December
                    2035

                	 	 	
                  5,263,084.07

                	 
	
                  January
                    2036

                	 	 	
                  5,179,337.93

                	 
	
                  February
                    2036

                	 	 	
                  5,096,859.38

                	 
	
                  March
                    2036

                	 	 	
                  5,015,629.68

                	 
	
                  April
                    2036

                	 	 	
                  4,935,630.35

                	 
	
                  May
                    2036

                	 	 	
                  4,856,843.22

                	 
	
                  June
                    2036

                	 	 	
                  4,779,250.34

                	 
	
                  July
                    2036

                	 	 	
                  4,702,834.05

                	 
	
                  August
                    2036

                	 	 	
                  4,627,576.95

                	 
	
                  September
                    2036

                	 	 	
                  4,553,461.88

                	 
	
                  October
                    2036

                	 	 	
                  4,480,471.93

                	 
	
                  November
                    2036

                	 	 	
                  4,408,590.46

                	 
	
                  December
                    2036

                	 	 	
                  4,337,801.04

                	 
	
                  January
                    2037

                	 	 	
                  28,173,691.76Exhibit
      10.12

     

    [FORM
      OF] STOCK OPTION AGREEMENT

     

    This
      Stock Option Agreement,
      made
      effective as of _____________, is by and between Spectre Gaming, Inc. (the
      “Company”), and _____________, an ____________ of the Company
      (the “Optionee”).

     

    The
      parties hereto agree as follows:

     

    1.  Grant
      of Option.
      The
      Company hereby grants to Optionee the right and option, hereinafter called
      the
“Option,” to purchase all or any part of an aggregate of ______________shares of
      the common stock, $.01 par value, of the Company (the “Shares”) subject to the
      terms and conditions herein set forth.

     

    2.  Purchase
      Price.
      The
      purchase price of the Shares covered by the Option shall be ______ per
      Share.

     

    3.  Exercise
      and Vesting of Option.
      Subject
      to Section 1 above, the Option shall vest as follows: ________ Shares on
      ____________; ________ Shares on ____________; and ________ Shares on
      ____________.

     

    4.  Term
      of Option.
      Except
      as otherwise provided in this Agreement, the Option shall be exercisable for
      ______ (___) years from the date of this Agreement; provided,
      however,
      that in
      the event that Optionee ceases to be an employee of the Company, Optionee or
      his
      or her legal representative shall have three (3) months from the date of such
      termination to exercise any part of the Option that is vested pursuant to
      Section 3
      of this
      Agreement. Upon the expiration of such three (3) month period, or, if earlier,
      upon the expiration date of the Option as set forth above, the Option shall
      terminate and become null and void.

     

    5.  Method
      of Exercising Option.
      Subject
      to the terms and conditions of this Agreement, the Option may be exercised
      by
      written notice to the Company. Such notice shall state the election to exercise
      the Option and the number of Shares in respect of which it is being exercised,
      and shall be signed by the person or persons so exercising the Option. Such
      notice shall either: (a) be accompanied by payment of the full purchase price
      of
      such Shares, in which event the Company shall deliver a certificate or
      certificates representing such Shares as soon as practicable after the notice
      shall be received; or (b) fix a date not less than five (5) nor more than ten
      (10) business days from the date such notice shall be received by the Company
      for the payment of the full purchase price of such Shares against delivery
      of a
      certificate or certificates representing such Shares. Payment of such purchase
      price may take the form of cash, shares of stock of the Company, the total
      market value of which equals the total purchase price, or any combination of
      cash and shares of the Company, the total market value of which equals the
      total
      purchase price. Any such notice shall be deemed given when received by the
      Company at its principal place of business. All Shares that shall be purchased
      upon the exercise of the Option as provided herein shall be fully paid and
      non-assessable.

     

    6.  Rights
      of Option Holder.
      Optionee, as holder of the Option, shall not have any of the rights of a
      shareholder with respect to the Shares covered by the Option except to the
      extent that one or more certificates for such Shares shall be delivered to
      him
      or her upon the due exercise of all or any part of the Option.

     

    7.  Non-Transferability.
      The
      Option shall not be transferable and the Company shall not be required to
      recognize any attempted assignment of such rights by any participant except:
      (i)
      in the event of the Optionee’s death, by will or the laws of descent and
      distribution to the limited extent provided in this Option Agreement; (ii)
      or
      pursuant to a qualified domestic relations order as defined by the Internal
      Revenue Code of 1986, as amended; or (iii) pursuant to Title I of the Employee
      Retirement Income Security Act, or the rules thereunder (if applicable).
      Notwithstanding the preceding sentence, the Option may be transferred by the
      holder thereof to family members, trusts or charities. During the Optionee’s
      lifetime, the Option may be exercised only by him or her, by his or her guardian
      or legal representative or by the transferees permitted by the preceding
      sentence. Except as set forth above, the Option may not be assigned,
      transferred, pledged, or hypothecated in any way, shall not be assignable by
      operation of law, and shall not be subject to execution, attachment, or similar
      process. Any attempted assignment, transfer, pledge, hypothecation, or other
      disposition of the Option contrary to the provisions hereof, and the levy of
      any
      execution, attachment, or similar process upon the Option shall be null and
      void
      and without effect.

     

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    8.  General.
      The
      Option is issued under the Spectre Gaming 2006 Stock Option Plan. The Company
      shall at all times during the term of the Option keep available such number
      of
      Shares as will be sufficient to satisfy the requirements of this Option
      Agreement.

     

    In
      Witness Whereof,
      the
      undersigned have executed this Stock Option Agreement as of the date first
      written above.

     

    SPECTRE
      GAMING, INC.:

    

    

    By:                     

    Its:                      

    

     

    OPTIONEE:

     

      

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    [FORM
      OF] STOCK OPTION AGREEMENT

    

     

    This
      Stock Option Agreement,
      made
      effective as of ____________, 2006, is by and between Spectre Gaming, Inc.
      (the
“Company”), and ____________, an employee of the Company (the
“Optionee”).

    The
      parties hereto agree as follows:

    

    1. Grant
      of Option.
      The
      Company hereby grants to Optionee the right and option, hereinafter called
      the
“Option,” to purchase all or any part of an aggregate of ________________ shares
      of the common stock, $.01 par value, of the Company (the “Shares”) subject to
      the terms and conditions herein set forth.

    

    2. Purchase
      Price.
      The
      purchase price of the Shares covered by the Option shall be ________ per
      Share.

    

    3. Exercise
      and Vesting of Option.
      Subject
      to Section 1 above, the Option shall vest as follows: ________ Shares on
      ___________; ________ Shares on ___________; and ________ Shares on ___________.
      Notwithstanding the foregoing, in the event of an acquisition of the Company
      through the sale of substantially all of the Company’s assets and the consequent
      discontinuance of its business, or through a merger, consolidation, exchange,
      reorganization, reclassification or extraordinary dividend resulting in
      shareholders of the Company immediately prior to the effective time of such
      transaction holding, immediately afterwards, less than 50% of the outstanding
      voting power of the resulting entity, or through a divestiture or liquidation
      of
      the Company (collectively referred to as a “Change in Control”), all outstanding
      Options hereunder shall become immediately exercisable, whether or not such
      Options had become exercisable prior to the Change in Control. The Company’s
      board of directors may restrict the rights of or the applicability of this
      Section 3 to the extent necessary to comply with Section 16(b) of the Securities
      Exchange Act of 1934, the Internal Revenue Code or any other applicable law
      or
      regulation. This Option shall not limit in any way the right or power of the
      Company to make adjustments, reclassifications, reorgan¬izations or changes of
      its capital or business structure or to merge, exchange or consolidate or to
      dissolve, liquidate, sell or transfer all or any part of its business or
      assets.

    

    4. Term
      of Option.
      Except
      as otherwise provided in this Agreement, the Option shall be exercisable for
      ______ (____) years from the date of this Agreement; provided, however, that
      in
      the event that Optionee ceases to be an employee of the Company, Optionee or
      his
      or her legal representative shall have three (3) months from the date of such
      termination to exercise any part of the Option that is vested pursuant to
      Section 3 of this Agreement. Upon the expiration of such three (3) month period,
      or, if earlier, upon the expiration date of the Option as set forth above,
      the
      Option shall terminate and become null and void.

    

    5. Method
      of Exercising Option.
      Subject
      to the terms and conditions of this Agreement, the Option may be exercised
      by
      written notice to the Company. Such notice shall state the election to exercise
      the Option and the number of Shares in respect of which it is being exercised,
      and shall be signed by the person or persons so exercising the Option. Such
      notice shall either: (a) be accompanied by payment of the full purchase price
      of
      such Shares, in which event the Company shall deliver a certificate or
      certificates representing such Shares as soon as practicable after the notice
      shall be received; or (b) fix a date not less than five (5) nor more than ten
      (10) business days from the date such notice shall be received by the Company
      for the payment of the full purchase price of such Shares against delivery
      of a
      certificate or certificates representing such Shares. Payment of such purchase
      price may take the form of cash, shares of stock of the Company, the total
      market value of which equals the total purchase price, or any combination of
      cash and shares of the Company, the total market value of which equals the
      total
      purchase price. Any such notice shall be deemed given when received by the
      Company at its principal place of business. All Shares that shall be purchased
      upon the exercise of the Option as provided herein shall be fully paid and
      non-assessable.

    

    6. Rights
      of Option Holder.
      Optionee, as holder of the Option, shall not have any of the rights of a
      shareholder with respect to the Shares covered by the Option except to the
      extent that one or more certificates for such Shares shall be delivered to
      him
      or her upon the due exercise of all or any part of the Option.

    

    7. Non-Transferability.
      The
      Option shall not be transferable and the Company shall not be required to
      recognize any attempted assignment of such rights by any participant except:
      (i)
      in the event of the Optionee’s death, by will or the laws of descent and
      distribution to the limited extent provided in this Option Agreement; (ii)
      or
      pursuant to a qualified domestic relations order as defined by the Internal
      Revenue Code of 1986, as amended; or (iii) pursuant to Title I of the Employee
      Retirement Income Security Act, or the rules thereunder (if applicable).
      Notwithstanding the preceding sentence, the Option may be transferred by the
      holder thereof to family members, trusts or charities. During the Optionee’s
      lifetime, the Option may be exercised only by him or her, by his or her guardian
      or legal representative or by the transferees permitted by the preceding
      sentence. Except as set forth above, the Option may not be assigned,
      transferred, pledged, or hypothecated in any way, shall not be assignable by
      operation of law, and shall not be subject to execution, attachment, or similar
      process. Any attempted assignment, transfer, pledge, hypothecation, or other
      disposition of the Option contrary to the provisions hereof, and the levy of
      any
      execution, attachment, or similar process upon the Option shall be null and
      void
      and without effect.

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    8. General.
      The
      Option is issued under the Spectre Gaming 2006 Stock Option Plan. The Company
      shall at all times during the term of the Option keep available such number
      of
      Shares as will be sufficient to satisfy the requirements of this Option
      Agreement.

    

    In
      Witness Whereof,
      the
      undersigned have executed this Stock Option Agreement as of the date first
      written above.

     

     

    
      SPECTRE
        GAMING, INC.:

      

      

      By:                     

      Its:                      

      

       

      OPTIONEE:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]