Document:

Exhibit 10.1

                        MORTGAGE LOAN PURCHASE AGREEMENT

            This Mortgage Loan Purchase Agreement (the "Agreement") dated as of
September 1, 2006 is between Citicorp Trust Bank, fsb, a federal savings bank
("CTB" or the "Seller"), and Citicorp Residential Mortgage Securities, Inc., a
Delaware corporation ("CRMSI"). The Seller agrees to sell, and CRMSI agrees to
purchase, the mortgage loans as described and set forth in the Mortgage Loan
Schedule attached as Exhibit B (the "Mortgage Loans") to the Pooling and
Servicing Agreement dated as of September 1, 2006 (the "Pooling Agreement"),
among CRMSI, CitiMortgage, Inc., as servicer and certificate administrator, U.S.
Bank National Association, as trustee (the "Trustee"), and Citibank, N.A., as
paying agent, certificate registrar and authenticating agent, relating to the
issuance of CRMSI REMIC Pass-Through Certificates, Series 2006-2. Terms used
without definition herein shall have the respective meanings assigned to them in
the Pooling Agreement or, if not defined therein, in the Underwriting Agreement
dated September 21, 2006 (the "Underwriting Agreement"), among CRMSI, CTB and
Citigroup Global Markets Inc., as Representative of the several underwriters
(the "Underwriters").

            1. Purchase Price. The purchase price (the "Purchase Price") for the
Mortgage Loans shall consist of cash in the amount of [ ]% of the aggregate Loan
Balance thereof as of the Cut-Off Date, plus accrued interest on the aggregate
Loan Balance of the Mortgage Loans from and including the Cut-Off Date to but
excluding the Closing Date. Such cash shall be payable by CRMSI to the Seller on
the Closing Date in same-day funds.

            Upon payment of the Purchase Price, the Seller shall sell, transfer,
assign, set over and otherwise convey to CRMSI without recourse all of the
Seller's right, title and interest in and to the Mortgage Loans, including all
interest and principal received or receivable by such Seller on or with respect
to the Mortgage Loans, including all amounts received or receivable by CRMSI on
or with respect to the Mortgage Loans on or after the Cut-Off Date (but not
payments of principal and interest received on the Mortgage Loans on or before
the Cut-Off Date and not any Prepayment Charges received or receivable with
respect to any Mortgage Loan), together with all of the Seller's right, title
and interest in and to the proceeds of any related title, hazard or other
insurance policies. The Seller agrees to deliver (or cause to be delivered) to
CRMSI or its designee all documents, instruments and agreements required to be
delivered by CRMSI to the Trustee under the Pooling Agreement and such other
documents, instruments and agreements as CRMSI shall reasonably request. CRMSI
hereby directs the Seller to execute and deliver to the Trustee assignments of
the Mortgages to the Trustee (and endorsements of any Notes relating thereto) in
recordable form. Such assignments and endorsements shall not affect the rights
of the parties hereto or to the Pooling Agreement.

            2. Representations; Warranties. The Seller hereby represents and
warrants to CRMSI (i) that CRMSI's representations and warranties pursuant to
the Pooling Agreement to the Trustee with respect to the Mortgage Loans are true
and correct, (ii) that the Mortgage Loans are being sold by the Seller hereunder
with the intention of removing them from the estate and assets of the Seller and
(iii) that the Seller has not dealt with any broker, investment banker, agent or
other person (other than CRMSI and the Underwriters) who may be entitled to any
commission or compensation in connection with the sale of the Mortgage Loans.
The Seller hereby makes to CRMSI the additional warranty that CRMSI makes to the
Trustee under Section 14.02 of the Pooling Agreement. The Seller hereby agrees
to cure any breach of such representations and warranties or such additional
warranty in accordance with the terms of the Pooling Agreement or, in the event
such breach cannot be cured to repurchase or substitute the affected Mortgage
Loan in accordance with the terms of the Pooling Agreement.

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

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

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

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

            7. Notices. All demands, notices and communications hereunder shall
be in writing, shall be effective only upon receipt and if sent to CTB, will be
delivered to Citicorp Trust Bank, fsb, 1000 Technology Drive, O'Fallon, Missouri
63368-2240, Attn: Daniel P. Hoffman, with a copy to Eberhard J. Gabriel, General
Counsel, Citicorp Trust Bank, fsb, 4000 Regent Boulevard, Irving, Texas 75063,
or if sent to CRMSI, will be delivered to Citicorp Residential Mortgage
Securities, Inc., 1000 Technology Drive, O'Fallon, Missouri 63368-2240, Attn:
Daniel P. Hoffman, with a copy to Michael S. Zuckert, General Counsel, Finance
and Capital Markets, Citigroup Inc., 425 Park Avenue, New York, New York 10043.

            8. Trustee Beneficiary. The representations and warranties made by
the Seller in Section 2 of this Agreement are made for the benefit of, and may
be enforced by, the Trustee and the holders of Certificates to the same extent
that the Trustee and the holders of Certificates, respectively, have rights
against CRMSI under the Pooling Agreement in respect of representations and
warranties made by CRMSI therein.

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

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

<PAGE>

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

                                    CITICORP TRUST BANK, FSB

                                    By: /s/ Paul Ince
                                       ---------------------------------
                                       Name:  Paul Ince
                                       Title:  Chief Financial Officer

                                    CITICORP RESIDENTIAL MORTGAGE
                                    SECURITIES INC.

                                    By:  /s/ Daniel P. Hoffman
                                       ---------------------------------
                                       Name:  Daniel P. Hoffman
                                       Title:  Vice PresidentCOLONIAL BANKSHARES, INC.
                         2006 STOCK-BASED INCENTIVE PLAN

                                     FORM OF
                             STOCK OPTION AGREEMENT
                               (OUTSIDE DIRECTORS)

     A. STOCK OPTIONS  ("Options") for a total of ____________  shares of Common
Stock, par value $0.10 per share, of Colonial  Bankshares,  Inc. (the "Company")
are hereby  granted to  ___________  (the  "Participant").  [Stock  Appreciation
Rights with respect to a total of  _____________  shares are also granted to the
Participant  and  relate to the  Options  granted  hereunder.  Omit if none were
granted.]  The grant and terms of the Options  [and Stock  Appreciation  Rights]
shall  be  subject  in  all  respects  to the  Colonial  Bankshares,  Inc.  2006
Stock-Based  Incentive  Plan (the  "Plan").  Participant  is a  director  of the
Company,  Colonial Bank, FSB (the "Bank"), or an affiliate of the Company or the
Bank.  The terms of this Stock  Option  Agreement  are  subject to the terms and
conditions of the Plan.

     B. The Option exercise price of Common Stock is $______ per share, the Fair
Market  Value (as  defined in the Plan) of the Common  Stock on  __________  __,
2006, the date of grant.

     C. The Options granted  hereunder shall vest in _____________  equal annual
installments,  with the  first  installment  becoming  exercisable  on the first
anniversary  of the date of grant,  or  ___________  __,  2007,  and  succeeding
installments on each anniversary  thereafter  through  ___________ __, 20__. The
Options  granted  hereunder  may be exercised  for up to ten (10) years from the
date of grant, subject to sub-paragraph D below.

     D. If  Participant  ceases to  maintain  service  with the  Company  or its
affiliates, including the Bank, for any reason other than Disability (as defined
in the Plan),  death,  Retirement (as defined in the Plan) or following a Change
in Control (as defined in the Plan),  unvested  Options  will be  forfeited  and
vested  Options  will  be  exercisable  for a  period  of up to [one  (1)  year]
following such cessation of service.  If Participant  ceases to maintain service
with the Bank or the Company due to death, Disability, Retirement or following a
Change in Control, Options granted hereunder, whether or not exercisable at such
time,   will  become   exercisable   by  the   Participant   (or  his/her  legal
representative  or  beneficiary)  for  [one  (1)  year]  following  the  date of
termination  of service.  In no event will the period of exercise  extend beyond
the expiration of the Option term.

     E.  Stock  Appreciation  Rights ("SARs") are hereby granted with respect to
all  Options  granted  hereunder.  SARs are  granted in tandem  with the Options
granted  hereunder  and the exercise of one will cause the  cancellation  of the
other. If the Participant  exercises SARs, the Participant  will not be required
to pay the exercise  price of the related Option and will be entitled to receive
Common Stock of the Company  equal in value to the  difference  between the Fair
Market Value of the Common Stock on the date of exercise and the exercise  price
of the  related  Options  (which  will be  cancelled).
         -------------------------------------------------------------
         Example: Participant receives 1,000 Options and related SARS.
         The options  have an exercise price of $12. When the Company
         Stock is trading at $18, the Participant  exercises 300 SARs.
         Because the Participant has exercised SARs,  the Participant
         does  not  have  to  pay the exercise price. The Participant
         receives 100 shares of the Company stock.

                $18    Common Stock
              - $12    exercise price
                -------------------
                 $6    SAR value
              x 300    SARs exercised
                -------------------
             $1,800/18 Common Stock = 100 shares
         -------------------------------------------------------------
<PAGE>
     F.  Options may not be  exercised if the issuance of shares of Common Stock
of the Company upon such exercise would constitute a violation of any applicable
federal or state securities or other law or regulation.  The  Participant,  as a
condition  to exercise of the Options,  shall  represent to the Company that the
shares of Common Stock of the Company that he acquires pursuant to such exercise
are being  acquired by such  Participant  for  investment and not with a present
view to  distribution  or resale,  unless counsel for the Company is then of the
opinion that such a  representation  is not required under the Securities Act of
1933 or any  other  applicable  law,  regulation,  or  rule of any  governmental
agency.

     G. In the  discretion  of the Board of  Directors,  vested  Options  may be
transferred,  subject to any limitations on transferability imposed by the Board
of Directors.

     H. A copy of the Plan is enclosed  and we encourage  you to read  carefully
all the  provisions of the Plan. You are not required to exercise the Options as
to any  particular  number  or  shares  at one  time,  but the  Options  must be
exercised, if at all and to the extent exercised, by no later than ten years and
one day from the date of grant.  The Options may be  exercised  during such term
only in accordance with the terms of the Plan. In the event of any inconsistency
between this Stock  Option  Agreement  and the Plan,  the terms of the Plan will
control.

     I. All exercises of the Options must be made by executing and returning the
Notice of  Exercise  of Stock  Options  attached  hereto as  Exhibit A, and upon
receipt of any shares of Common  Stock upon the  exercise  of any  Options,  the
recipient shall complete and return to the Company the Acknowledgment of Receipt
of Stock Option Shares attached hereto as Exhibit B.

     J.  The  Participant  acknowledges  receipt  of  a  copy  of  the  Colonial
Bankshares,  Inc. 2006  Stock-Based  Incentive  Plan and  represents  that he is
familiar with the terms and provisions  thereof.  The Participant hereby accepts
the  Options  subject  to all  the  terms  and  provisions  of  such  Plan.  The
Participant  hereby  agrees  to  accept as  binding,  conclusive,  and final all
decisions and  interpretations  of the Committee  established to administer such
Plan upon any questions arising under such plan.

Dated:
      -------------------------

ATTEST:                                     COLONIAL BANKSHARES, INC.

--------------------------------            ---------------------------------

WITNESS:                                    PARTICIPANT

--------------------------------            ---------------------------------

      This Stock Option Agreement must be executed in duplicate originals,
           with one original retained by the Company and one original
                           retained by the Participant

                                       2
<PAGE>
                                    EXHIBIT A

                       NOTICE OF EXERCISE OF STOCK OPTIONS
                             (BY OUTSIDE DIRECTORS)

     I hereby exercise the stock option (the "Option") granted to me by Colonial
Bankshares, Inc. (the "Company") or its affiliate,  subject to all the terms and
provisions  set forth in the Stock Option  Agreement (the  "Agreement")  and the
Colonial Bankshares,  Inc. 2006 Stock-Based Incentive Plan (the "Plan") referred
to therein, and notify you of my desire to purchase __________________ shares of
common stock of the Company  ("Common Stock") for a purchase price of $_________
per share.

         Enclosed please find (check one):

         ___      Cash, my check in the sum of $_______,  or electronic  funds
                  transfer (EFT) in the sum of $__________ in full payment
                  of the purchase price.

         ___      Stock of the Company with a fair market value of $______ in
                  full payment of the purchase price.*

         ___      My check in the sum of $_______ and stock of the Company with
                  a fair market value of $______,  in full payment of the
                  purchase price.*

         ___      Please sell ______ Shares from my Option Shares through a
                  broker in full/partial payment of the purchase price.

     I understand that after this exercise,  ____________ shares of Common Stock
remain  subject to the Option,  subject to all terms and provisions set forth in
the Agreement and the Plan.

         I hereby represent that it is my intention to acquire these shares for
         the following purpose:

         ___      investment
         ___      resale or distribution

     Please  note:  if your  intention  is to resell (or  distribute  within the
meaning of Section 2(11) of the  Securities  Act of 1933) the shares you acquire
through  this Option  exercise,  the  Company or  transfer  agent may require an
opinion  of counsel  that such  resale or  distribution  would not  violate  the
Securities Act of 1933 prior to your exercise of such Option.

Dated: ____________, _____.            _________________________________________
                                                 Participant's signature

     * If I elect to  exercise  by  exchanging  shares  I  already  own,  I will
constructively  return  shares  that I already  own to  purchase  the new option
shares. If my shares are in certificate form, I must attach a separate statement
indicating  the  certificate  number  of the  shares  I am  treating  as  having
exchanged.  If the shares are held in "street  name" by a registered  broker,  I
must provide the Company with a notarized  statement  attesting to the number of
shares  owned  that will be treated as having  been  exchanged.  I will keep the
shares that I already  own and treat them as if they are shares  acquired by the
option  exercise.  In addition,  I will receive  additional  shares equal to the
difference between the shares I constructively exchange and the total new option
shares that I acquire.
<PAGE>

                                    EXHIBIT B

                ACKNOWLEDGMENT OF RECEIPT OF STOCK OPTION SHARES

     I hereby acknowledge the delivery to me by Colonial  Bankshares,  Inc. (the
"Company")  or its  affiliate  on  __________________________________,  of stock
certificates  for  ____________________shares  of  common  stock of the  Company
purchased  by me  pursuant  to the terms  and  conditions  of the  Stock  Option
Agreement and the Colonial Bankshares,  Inc. 2006 Stock-Based Incentive Plan, as
applicable,  which shares were  transferred to me on the Company's  stock record
books on ____________________.

Dated:
      -----------------------------

                                              -------------------------------
                                              Participant's signature

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