Document:

EXHIBIT 10.1

                            REVISED PAYMENT SCHEDULE

On March 29th, 2006, an amendment to License Agreement between 21st Century
Airships Inc. ("21st Century") and Techsphere Systems International, LLC,
("TSI") was entered into.

As of today's date, August 24, 2006, only the April 30, 2006 payment of the
Amendment's agreed upon payment schedule has been received by 21st Century. The
July 15, 2006 and August 15, 2006 payments are currently in default.

On TSI's request, a Revised Payment Schedule has been agreed upon as follows:

         -$90,000 (Ninety Thousand Dollars) on or before August 25, 2006.
         -$35,000 (Thirty Five Thousand Dollars) on or before August 29, 2006.
         -$125,000 (One Hundred Twenty Five Thousand Dollars) on or before
         September 15, 2006.
         -$150,000 (One Hundred Fifty Thousand Dollars on or before September
         25, 2006.
         -$150,000 (One Hundred Fifty Thousand Dollars on or before October 25,
         2006.
         -$150,000 (One Hundred Fifty Thousand Dollars on or before November 25,
         2006.
         -$100,000 (One Hundred Thousand Dollars on or before December 25, 2006.

5.(d) of the Amendment and 4.A and 5.B(4)(a) of the License Agreement with TSI
as it relates to a 30 day grace period to cure a default do not apply to the
Revised Payment Schedule payments for August 25, 2006, September 15, 2006 and
September 25, 2006. Should these mentioned payments become in default, 21st
Century intends to terminate the License Agreement.

The individual signing for each party has full power and authority to sign this
Revised Payment Schedule, which shall be binding on the party.

This Revised Payment Schedule may be executed in counterparts, each of which
shall be deemed an original, but all of which shall constitute one and the same
instrument. Any signature delivered by facsimile transmission shall be deemed a
valid and binding signature for all purposes hereof.

In Witness Whereof, the parties have executed this Revised Payment Schedule as
of August 25, 2006.

                                      21st Century Airships, Inc.

                                      By: /s/ Hokan Colting, CEO
                                          -------------------------------------
                                          Hokan Colting, CEO

                                      Techsphere Systems International, LLC.

                                      By: /s/ William C. Robinson, CEO
                                          -------------------------------------
                                          William C. Robinson, CEO

                                      Cyber Defense Systems, Inc.

                                      By: /s/ William C. Robinson, CEO
                                          -------------------------------------
                                          William C. Robinson, CEOUnassociated Document

    Execution

     

    
      

      

    

    GREENWICH
      CAPITAL ACCEPTANCE, INC.,

    Depositor

    

    GREENWICH
      CAPITAL FINANCIAL PRODUCTS, INC.,

    Seller

    

    WELLS
      FARGO BANK, N.A.,

    Master
      Servicer and Securities Administrator

     

    CLAYTON
      FIXED INCOME SERVICES INC.,

    Credit
      Risk Manager

    

    and

    

    DEUTSCHE
      BANK NATIONAL TRUST COMPANY,

    Trustee
      and Custodian

     

    POOLING
      AND SERVICING AGREEMENT

     

    Dated
      as
      of August 1, 2006

     

    
      
        

      

    

     

    HarborView
      Mortgage Loan Trust

    Mortgage
      Loan Pass-Through Certificates, Series 2006-7

     

    
      

      

    

    

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    Table
      of Contents

    
      

        
          	 	
                  Page

                
	 	 
	
                  ARTICLE
                    I DEFINITIONS; DECLARATION OF TRUST

                	
                  4

                
	 	 
	
                  SECTION
                    1.01. Defined Terms

                	
                  4

                
	
                  SECTION
                    1.02. Accounting

                	
                  52

                
	 	 
	
                  ARTICLE
                    II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF
                    CERTIFICATES

                	
                  52

                
	 	 
	
                  SECTION
                    2.01. Conveyance of Mortgage Loans

                	
                  52

                
	
                  SECTION
                    2.02. Acceptance by Trustee

                	
                  56

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

                	
                  58

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

                	
                  61

                
	
                  SECTION
                    2.05. [Reserved]

                	
                  64

                
	
                  SECTION
                    2.06. Representations and Warranties of the Depositor

                	
                  64

                
	
                  SECTION
                    2.07. Issuance of Certificates

                	
                  66

                
	
                  SECTION
                    2.08. Representations and Warranties of the Seller

                	
                  66

                
	
                  SECTION
                    2.09. Covenants of the Seller

                	
                  68

                
	 	 
	
                  ARTICLE
                    III ADMINISTRATION AND MASTER SERVICING OF THE MORTGAGE LOANS;
                    CREDIT RISK
                    MANAGER

                	
                  68

                
	 	 
	
                  SECTION
                    3.01. Master Servicer to Service and Administer the Mortgage
                    Loans

                	
                  68

                
	
                  SECTION
                    3.02. REMIC-Related Covenants

                	
                  69

                
	
                  SECTION
                    3.03. Monitoring of Servicer

                	
                  70

                
	
                  SECTION
                    3.04. Fidelity Bond

                	
                  71

                
	
                  SECTION
                    3.05. Power to Act; Procedures

                	
                  71

                
	
                  SECTION
                    3.06. Due-on-Sale Clauses; Assumption Agreements

                	
                  72

                
	
                  SECTION
                    3.07. Release of Mortgage Files

                	
                  73

                
	
                  SECTION
                    3.08. Documents, Records and Funds in Possession of Master Servicer
                    to be
                    Held for Trust Fund

                	
                  74

                
	
                  SECTION
                    3.09. Standard Hazard Insurance and Flood Insurance
                    Policies

                	
                  74

                
	
                  SECTION
                    3.10. Presentment of Claims and Collection of Proceeds

                	
                  75

                
	
                  SECTION
                    3.11. Maintenance of the Primary Insurance Policies

                	
                  75

                
	
                  SECTION
                    3.12. Trustee to Retain Possession of Certain Insurance Policies
                    and
                    Documents

                	
                  76

                
	
                  SECTION
                    3.13. Realization Upon Defaulted Mortgage Loans

                	
                  76

                
	
                  SECTION
                    3.14. Additional Compensation to the Master Servicer

                	
                  76

                
	
                  SECTION
                    3.15. REO Property

                	
                  77

                
	
                  SECTION
                    3.16. Assessments of Compliance and Attestation Reports

                	
                  77

                
	
                  SECTION
                    3.17. Annual Compliance Statement

                	
                  80

                
	
                  SECTION
                    3.18. Sarbanes-Oxley Certification

                	
                  80

                
	
                  SECTION
                    3.19. Reports Filed with Securities and Exchange
                    Commission

                	
                  81

                

        

         

        
          
            
            

          

          
            i

            
              

            

          

          
            
            

          

        

         

        
          	
                  SECTION
                    3.20. Additional Information

                	
                  86

                
	
                  SECTION
                    3.21. Intention of the Parties and Interpretation

                	
                  87

                
	
                  SECTION
                    3.22. Indemnification

                	
                  87

                
	
                  SECTION
                    3.23. [Reserved]

                	
                  88

                
	
                  SECTION
                    3.24. [Reserved]

                	
                  88

                
	
                  SECTION
                    3.25. [Reserved]

                	
                  88

                
	
                  SECTION
                    3.26. [Reserved]

                	
                  88

                
	
                  SECTION
                    3.27. Closing Certificate and Opinion

                	
                  88

                
	
                  SECTION
                    3.28. [Reserved]

                	
                  88

                
	
                  SECTION
                    3.29. Merger or Consolidation of the Master Servicer

                	
                  88

                
	
                  SECTION
                    3.30. Indemnification of the Trustee, the Master Servicer and
                    the
                    Securities Administrator

                	
                  88

                
	
                  SECTION
                    3.31. Limitations on Liability of the Master Servicer and Others;
                    Indemnification of Trustee and Others

                	
                  89

                
	
                  SECTION
                    3.32. Master Servicer Not to Resign

                	
                  91

                
	
                  SECTION
                    3.33. Successor Master Servicer

                	
                  91

                
	
                  SECTION
                    3.34. Sale and Assignment of Master Servicing

                	
                  91

                
	
                  SECTION
                    3.35. Reporting Requirements of the Commission

                	
                  92

                
	
                  SECTION
                    3.36. Duties of the Credit Risk Manager

                	
                  92

                
	
                  SECTION
                    3.37. Limitation Upon Liability of the Credit Risk Manager

                	
                  93

                
	
                  SECTION
                    3.38. Removal of Credit Risk Manager

                	
                  93

                
	 	 
	
                  ARTICLE
                    IV ACCOUNTS

                	
                  93

                
	 	 
	
                  SECTION
                    4.01. Servicing Accounts

                	
                  93

                
	
                  SECTION
                    4.02. Distribution Account

                	
                  95

                
	
                  SECTION
                    4.03. Permitted Withdrawals and Transfers from the Distribution
                    Account

                	
                  96

                
	
                  SECTION
                    4.04. [Reserved]

                	
                  99

                
	
                  SECTION
                    4.05. Certificate Insurance Policy

                	
                  99

                
	 	 
	
                  ARTICLE
                    V FLOW OF FUNDS

                	
                  102

                
	 	 
	
                  SECTION
                    5.01. Distributions.

                	
                  102

                
	
                  SECTION
                    5.02. Allocation of Net Deferred Interest

                	
                  110

                
	
                  SECTION
                    5.03. Allocation of Realized Losses

                	
                  110

                
	
                  SECTION
                    5.04. Statements

                	
                  111

                
	
                  SECTION
                    5.05. Remittance Reports; Advances

                	
                  114

                
	
                  SECTION
                    5.06. Compensating Interest Payments

                	
                  115

                
	
                  SECTION
                    5.07. Basis Risk Reserve Fund

                	
                  115

                
	
                  SECTION
                    5.08. Recoveries

                	
                  116

                
	
                  SECTION
                    5.09. The Final Maturity Reserve Trust

                	
                  117

                
	
                  SECTION
                    5.10. Yield Maintenance Trust Account

                	
                  118

                
	
                  SECTION
                    5.11. Yield Maintenance Account

                	
                  119

                
	 	 
	
                  ARTICLE
                    VI THE CERTIFICATES

                	
                  120

                
	 	 
	
                  SECTION
                    6.01. The Certificates

                	
                  120

                
	
                  SECTION
                    6.02. Registration of Transfer and Exchange of
                    Certificates

                	
                  121

                
	
                  SECTION
                    6.03. Mutilated, Destroyed, Lost or Stolen Certificates

                	
                  129

                

        

         

        
          
            
            

          

          
            ii

            
              

            

          

          
            
            

          

        

         

        
          	
                  SECTION
                    6.04. Persons Deemed Owners

                	
                  129

                
	
                  SECTION
                    6.05. Appointment of Paying Agent

                	
                  129

                
	 	 
	
                  ARTICLE
                    VII DEFAULT

                	
                  130

                
	 	 
	
                  SECTION
                    7.01. Event of Default

                	
                  130

                
	
                  SECTION
                    7.02. Trustee to Act

                	
                  132

                
	
                  SECTION
                    7.03. Waiver of Event of Default

                	
                  133

                
	
                  SECTION
                    7.04. Notification to Certificateholders

                	
                  134

                
	 	 
	
                  ARTICLE
                    VIII THE TRUSTEE AND THE SECURITIES ADMINISTRATOR

                	
                  134

                
	 	 
	
                  SECTION
                    8.01. Duties of the Trustee, the Securities Administrator and
                    the
                    Administrator

                	
                  134

                
	
                  SECTION
                    8.02. Certain Matters Affecting the Trustee and the Securities
                    Administrator

                	
                  136

                
	
                  SECTION
                    8.03. Trustee and the Securities Administrator Not Liable for
                    Certificates
                    or Mortgage Loans

                	
                  137

                
	
                  SECTION
                    8.04. Trustee, Custodian, Master Servicer and Securities Administrator
                    May
                    Own Certificates

                	
                  138

                
	
                  SECTION
                    8.05. Trustee’s and Securities Administrator’s Fees and
                    Expenses

                	
                  139

                
	
                  SECTION
                    8.06. Eligibility Requirements for Trustee and Securities
                    Administrator

                	
                  139

                
	
                  SECTION
                    8.07. Resignation or Removal of Trustee and Securities
                    Administrator

                	
                  140

                
	
                  SECTION
                    8.08. Successor Trustee and Successor Securities
                    Administrator

                	
                  141

                
	
                  SECTION
                    8.09. Merger or Consolidation of Trustee or Securities
                    Administrator

                	
                  142

                
	
                  SECTION
                    8.10. Appointment of Co-Trustee or Separate Trustee

                	
                  142

                
	
                  SECTION
                    8.11. Limitation of Liability

                	
                  143

                
	
                  SECTION
                    8.12. Trustee May Enforce Claims Without Possession of
                    Certificates

                	
                  143

                
	
                  SECTION
                    8.13. Suits for Enforcement

                	
                  144

                
	
                  SECTION
                    8.14. Waiver of Bond Requirement

                	
                  144

                
	
                  SECTION
                    8.15. Waiver of Inventory, Accounting and Appraisal
                    Requirement

                	
                  144

                
	
                  SECTION
                    8.16. Appointment of Custodians

                	
                  145

                
	
                  SECTION
                    8.17. Maintenance of the Bulk PMI Policy

                	
                  145

                
	
                  SECTION
                    8.18. Limitation of Liability of Securities Administrator and
                    Administrator

                	
                  145

                
	
                  SECTION
                    8.19. Administrator’s Fees and Expenses

                	
                  146

                
	
                  SECTION
                    8.20. Resignation or Removal of the Administrator

                	
                  146

                
	 	 
	
                  ARTICLE
                    IX REMIC ADMINISTRATION

                	
                  147

                
	
                	 
	
                  SECTION
                    9.01. REMIC Administration

                	
                  147

                
	
                  SECTION
                    9.02. Prohibited Transactions and Activities

                	
                  150

                
	 	 
	
                  ARTICLE
                    X TERMINATION

                	
                  150

                
	 	 
	
                  SECTION
                    10.01. Termination

                	
                  150

                
	
                  SECTION
                    10.02. Additional Termination Requirements

                	
                  153

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

                	
                  154

                
	 	 
	
                  ARTICLE
                    XI DISPOSITION OF TRUST FUND ASSETS

                	
                  154

                
	 	 
	
                  SECTION
                    11.01. Disposition of Trust Fund Assets

                	
                  154

                

        

         

        
          
            
            

          

          
            iii

            
              

            

          

          
            
            

          

        

         

        
          	
                  ARTICLE
                    XII MISCELLANEOUS PROVISIONS

                	
                  155

                
	 	 
	
                  SECTION
                    12.01. Amendment

                	
                  155

                
	
                  SECTION
                    12.02. Recordation of Agreement; Counterparts

                	
                  156

                
	
                  SECTION
                    12.03. Limitation on Rights of Certificateholders

                	
                  156

                
	
                  SECTION
                    12.04. Governing Law; Jurisdiction

                	
                  158

                
	
                  SECTION
                    12.05. Notices

                	
                  158

                
	
                  SECTION
                    12.06. Severability of Provisions

                	
                  159

                
	
                  SECTION
                    12.07. Article and Section References

                	
                  159

                
	
                  SECTION
                    12.08. Notice to the Rating Agencies

                	
                  159

                
	
                  SECTION
                    12.09. Further Assurances

                	
                  160

                
	
                  SECTION
                    12.10. Benefits of Agreement

                	
                  160

                
	
                  SECTION
                    12.11. Acts of Certificateholders

                	
                  161

                
	
                  SECTION
                    12.12. Successors and Assigns

                	
                  161

                
	
                  SECTION
                    12.13. Provision of Information

                	
                  162

                

        

      

    

     

    
      	
              EXHIBITS
                AND SCHEDULES:

            	 
	
              Exhibit
                A

            	
              Form
                of Senior Certificate

            	
              A

            
	
              Exhibit
                B

            	
              Form
                of Subordinate Certificate

            	
              B

            
	
              Exhibit
                C-1

            	
              Form
                of Class C Certificate

            	
              C-1

            
	
              Exhibit
                C-2

            	
              Form
                of Class P Certificate

            	
              C-2

            
	
              Exhibit
                C-3

            	
              Form
                of Class R Certificate

            	
              C-3

            
	
              Exhibit
                D

            	
              Form
                of Reverse Certificate

            	
              D

            
	
              Exhibit
                E

            	
              [Reserved]

            	
              E

            
	
              Exhibit
                F

            	
              Request
                for Release

            	
              F

            
	
              Exhibit
                G-1

            	
              Form
                of Receipt of Mortgage Note

            	
              G-1

            
	
              Exhibit
                G-2

            	
              Form
                of Interim Certification of Trustee

            	
              G-2

            
	
              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

            	
              Yield
                Maintenance Allocation Agreement

            	
              M

            
	
              Exhibit
                N

            	
              List
                of Servicers and Servicing Agreements

            	
              N

            
	
              Exhibit
                O

            	
              Transaction
                Parties

            	
              O

            
	
              Exhibit
                P

            	
              Yield
                Maintenance Agreement

            	
              P

            
	
              Exhibit
                Q

            	
              Servicing
                Criteria

            	
              Q

            
	
              Exhibit
                R

            	
              Additional
                Form 10-D Disclosure

            	
              R

            
	
              Exhibit
                S

            	
              Additional
                Form 10-K Disclosure

            	
              S

            
	
              Exhibit
                T

            	
              Additional
                Form 8-K Disclosure

            	
              T

            
	
              Exhibit
                U

            	
              Additional
                Disclosure Notification

            	
              U

            
	 	 	 
	
              Schedule
                I

            	
              Mortgage
                Loan Schedule

            	 

    

     

    
      
        
        

      

      
        iv

        
          

        

      

      
        
        

      

    

     

    This
      Pooling and Servicing Agreement is dated as of July 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”),
      WELLS
      FARGO BANK, N.A., a national banking association, as master servicer (in such
      capacity, the “Master
      Servicer”)
      and as
      securities administrator (in such capacity, the “Securities
      Administrator”),
      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 and custodian (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
      2006-7 (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 fourteen classes
      of
      certificates, designated as (i) the Class 1A Certificates, (ii) the Class 2A-1A
      Certificates, (iii) the Class 2A-1B Certificates, (iv) the Class 2A-1C
      Certificates, (v) the Class B-1 Certificates, (vi) the Class B-2 Certificates,
      (vii) Class B-3 Certificates, (viii) the Class B-4 Certificates, (ix) the Class
      B-5 Certificates, (x) the Class B-6 Certificates, (xi) the Class B-7
      Certificates, (xii) the Class C Certificates, (xiii) the Class P Certificates,
      (xiv) the Class R Certificates.

     

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

     

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

     

    
      
        
        

      

      
        1

        
          

        

      

      
        
        

      

    

     

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

     

    Lower-Tier
      REMIC

     

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

     

    
      	
               

              Designation

            	 	
               

              Interest
                Rate

            	 	
              Initial
                Principal

              Balance

            	 	
              Corresponding
                Class of Certificate

            	 
	
              LT-1A

            	 	 	
              (1)

            	
               

            	
              $

            	
              378,188,000.00

            	 	 	
              1A

            	 
	
              LT-2A-1A

            	 	 	
              (1)

            	
               

            	
              $

            	
              343,503,500.00

            	 	 	
              2A-1A

            	 
	
              LT-2A-1B

            	 	 	
              (1)

            	
               

            	
              $

            	
              143,126,500.00

            	 	 	
              2A-1B

            	 
	
              LT-2A-1C

            	 	 	
              (1)

            	
               

            	
              $

            	
              85,876,000.00

            	 	 	
              2A-1C

            	 
	
              LT-B-1

            	 	 	
              (1)

            	
               

            	
              $

            	
              14,549,000.00

            	 	 	
              B-1

            	 
	
              LT-B-2

            	 	 	
              (1)

            	
               

            	
              $

            	
              7,023,500.00

            	 	 	
              B-2

            	 
	
              LT-B-3

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,518,500.00

            	 	 	
              B-3

            	 
	
              LT-B-4

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,017,000.00

            	 	 	
              B-4

            	 
	
              LT-B-5

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,017,000.00

            	 	 	
              B-5

            	 
	
              LT-B-6

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,017,000.00

            	 	 	
              B-6

            	 
	
              LT-B-7

            	 	 	
              (1)

            	
               

            	
              $

            	
              5,518,500.00

            	 	 	
              B-7

            	 
	
              LT-Q

            	 	 	
              (1)

            	
               

            	
              $

            	
              1,008,387,422.20

            	 	 	
              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 August 2016, and any Distribution Date on and after the Distribution
                Date in September 2026, it shall bear interest for the related Accrual
                Period at a fixed rate of 0.00%, and for each Distribution Date on
                or
                after the Distribution Date in August 2016 to and including the
                Distribution Date in August 2026, it shall bear interest for the
                related
                Accrual Period at a fixed rate equal to the Final Maturity Reserve
                Rate.
                

            

    

     

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

            

    

     

    
      
        
        

      

      
        2

        
          

        

      

      
        
        

      

    

     

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

     

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

            

    

    

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

            

    

    

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

            

    

    

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

     

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

     

    Upper-Tier
      REMIC

     

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

    

      
        	
                Class

              	 	
                Original
                  Class Principal Balance or

                Class
                  Notional Balance

              	 	
                Pass-Through
                  Rate

              	 
	
                Class
                  1A

              	 	
                $

              	
                756,376,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  2A-1A (8)

              	 	
                $

              	
                687,007,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  2A-1B

              	 	
                $

              	
                286,253,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  2A-1C

              	 	
                $

              	
                171,752,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-1

              	 	
                $

              	
                29,098,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-2

              	 	
                $

              	
                14,047,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-3

              	 	
                $

              	
                11,037,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-4

              	 	
                $

              	
                10,034,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-5

              	 	
                $

              	
                10,034,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-6

              	 	
                $

              	
                10,034,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  B-7

              	 	
                $

              	
                11,037,000.00

              	 	 	
                (1)

              	
                 

              
	
                Class
                  C

              	 	 	
                (2)

              	
                 

              	 	
                (2)

              	
                 

              
	
                Class
                  P

              	 	
                $

              	
                100.00

              	 	 	
                (3)

              	
                 

              
	
                Class
                  R

              	 	 	
                (4)

              	
                 

              	 	
                (4)

              	
                 

              

      

    

     

    
      
        
        

      

      
        3

        
          

        

      

      
        
        

      

    

    
       

      
        

      

    

    
      
        	
              	
                (1)

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

              

      

    

     

    
      	(2)  	
              The
                Class C Interest shall have an initial principal balance of
                $10,032,822.20. 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) (i) the weighted average of the interest rates on the Lower-Tier
                Regular Interests (other than the LT-I Interest), weighted on the
                basis of
                the principal balance of each such Lower-Tier Interest, over (b)
                the
                Adjusted Lower-Tier WAC. For any Distribution Date, interest that
                accrues
                on the notional component of the Class C Interest shall be deferred
                to the
                extent of any increase in the Overcollateralized Amount on such date.
                Such
                deferred interest shall not itself bear interest. In addition, any
                Net
                Deferred Interest allocated to the Class C Certificate shall increase
                its
                principal balance. In addition to the rights set forth above, the
                Class C
                Certificates shall also evidence ownership of the LT-I Interest in
                the
                Lower-Tier REMIC.

            

    

     

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

            

    

     

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

            

    

     

    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 Master
      Servicer and (ii) acceptable to each Rating Agency, as evidenced by a letter
      from each such Rating Agency delivered to the Master Servicer and the Trustee
      that such entity’s acting as a successor servicer will not result in a
      qualification, withdrawal or downgrade of the then-current rating of any of
      the
      Certificates (without regard to the Certificate Insurance Policy).

     

    “Accepted
      Master Servicing Practices”:
      With
      respect to any Mortgage Loan, as applicable, either (x) those customary mortgage
      servicing practices of prudent mortgage servicing institutions that master
      service mortgage loans of the same type and quality as such Mortgage Loan in
      the
      jurisdiction where the related Mortgaged Property is located, to the extent
      applicable to the Trustee (as successor Master Servicer) or the Master Servicer
      (except in its capacity as successor to the Servicer), or (y) as provided in
      the
      Servicing Agreement, to the extent applicable to the Servicer, but in no event
      below the standard set forth in clause (x).

     

    
      
        
        

      

      
        4

        
          

        

      

      
        
        

      

    

     

    “Account”:
      The
      Distribution Account, the Yield Maintenance Trust Account, the Yield Maintenance
      Account, the Final Maturity Reserve Account, the Basis Risk Reserve Fund, the
      Servicing Account or the Policy 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 will be calculated
      based upon a 360-day year and the actual number of days in each Accrual Period.
      With respect to any Distribution Date and each Lower-Tier Regular Interest,
      the
      calendar month preceding such Distribution Date. Interest for each Lower-Tier
      Regular Interest will be calculated based on a 360-day year and assuming each
      month has 30 days.

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Administrator”:
      Wells
      Fargo Bank, N.A., 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 Master Servicer (including the Trustee in its capacity
      as
      successor Master Servicer) in respect of such Distribution Date pursuant to
      Section 5.05 or by the Servicer in accordance with the Servicing Agreement
      for
      such Distribution Date.

     

    
      
        
        

      

      
        5

        
          

        

      

      
        
        

      

    

     

    “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.

     

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

     

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

     

    “Allocated
      Realized Loss Amount”:
      For
      any Distribution Date and any Class of Offered Certificates, an amount equal
      the
      sum of any Realized Losses allocated to that Class of Certificates on such
      Distribution Date and any Allocated Realized Loss Amounts previously allocated
      to such Class pursuant to Section 5.03 minus
      any
      amounts distributed to such Class pursuant to Sections 5.01(a)(1)(iv) and (v)
      in
      respect of Allocated Realized Loss Amounts.

     

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

     

    “American
      Home Mortgage Loans”:
      The
      Mortgage Loans for which American Home is identified as “Originator” on the
      Mortgage Loan Schedule.

     

    “American
      Home Servicing”:
      American Home Mortgage Servicing, Inc. and its successors and assigns, in its
      capacity as a Servicer of the American Home Mortgage Loans.

     

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

     

    
      
        
        

      

      
        6

        
          

        

      

      
        
        

      

    

     

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

     

    “Available
      Funds”:
      With
      respect to any Distribution Date and any Loan Group, an amount equal to
      (i) the sum, without duplication, of (a) the aggregate of the Monthly
      Payments received on or prior to the related Determination Date (excluding
      Monthly Payments due in future Due Periods but received by the related
      Determination Date) in respect of the Mortgage Loans in such Loan Group,
      (b) Net Liquidation Proceeds, Insurance Proceeds (including from primary
      mortgage insurance policies), Principal Prepayments (excluding Prepayment
      Penalty Amounts), Recoveries and other unscheduled recoveries of principal
      and
      interest in respect of the Mortgage Loans in such Loan Group received during
      the
      related Prepayment Period, (c) the aggregate of any amounts received in respect
      of REO Properties for such Distribution Date in respect of Mortgage Loans in
      such Loan Group, (d) the aggregate of any amounts of Interest Shortfalls
      (excluding for such purpose all shortfalls as a result of Relief Act Reductions)
      paid by the Servicer pursuant to the Servicing Agreement and Compensating
      Interest Payments deposited in the Distribution Account for that Distribution
      Date in respect of the Mortgage Loans in such Loan Group, (e) the aggregate
      of the Purchase Prices, Substitution Adjustments, Repurchase Prices and other
      amounts collected for purchases or substitutions pursuant to Section 2.03
      deposited in the Distribution Account during the related Prepayment Period
      in
      respect of the Mortgage Loans in such Loan Group, (f) the aggregate of any
      Advances made by the Servicer and Advances made by the Master Servicer for
      that
      Distribution Date in respect of the Mortgage Loans in such Loan Group,
      (g) the aggregate of any Advances made by the Trustee (as successor Master
      Servicer) for such Distribution Date pursuant to Section 7.02 hereof in respect
      of the Mortgage Loans in such Loan Group and (h) the Termination Price
      allocated to such Loan Group on the Distribution Date on which the Trust Fund
      is
      terminated; minus
      (ii) the sum of (v) to the extent of amounts attributable to interest,
      the Premium Amount payable on such Distribution Date to the Certificate Insurer
      from the applicable Loan Group, (w) to the extent of amounts attributable
      to interest, the Expense Fees for such Distribution Date in respect of the
      Mortgage Loans in such Loan Group, (x) to the extent of amounts attributable
      to
      interest or principal, as applicable, amounts in reimbursement for Advances
      previously made in respect of the Mortgage Loans in such Loan Group and other
      amounts as to which the Servicer, the Trustee, the Credit Risk Manager, the
      Securities Administrator, the Custodian and the Master Servicer are entitled
      to
      be reimbursed pursuant to Section 4.03, (y) 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,
      the Master Servicer, the Custodian or the Securities Administrator pursuant
      to
      Section 8.05, Section 3.30(b) and Section 3.31(c) in respect of Mortgage Loans
      in such Loan Group or if not related to a Mortgage Loan, allocated to each
      Loan
      Group on a pro
      rata
      basis
      and (z) amounts deposited in the Distribution Account, as the case may be,
      in
      error, in respect of Mortgage Loans in such Loan Group.

     

    “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.

     

    
      
        
        

      

      
        7

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

    “Bulk
      PMI Fee”:
      With
      respect to any Distribution Date and each Mortgage Loan covered under the Bulk
      PMI Policy, an amount equal to the product of the Bulk PMI Fee Rate and the
      outstanding Principal Balance of such Mortgage Loan as of the first day of
      the
      related Due Period.

     

    “Bulk
      PMI Fee Rate”:
      With
      respect to each Mortgage Loan insured under any Bulk PMI Policy, the per annum
      rate specified in the Mortgage Loan Schedule under the field “Insurance Fee
      Rate,” plus any taxes due and payable with respect to any such insured Mortgage
      Loan where the related Mortgaged Property is located in the states of Kentucky
      or West Virginia.

     

    “Bulk
      PMI Policy”:
      The
      (i) Master Guaranty Policy Number 42-447-4-8764, (ii) MGIC Mortgage Guaranty
      Master Policy for Multiple Loan Transactions (MGIC Form #71-70276 (2/05)0,
      (iii)
      Endorsement to Mortgage Guaranty Master Policy for Multiple Loan Transactions
      With Aggregate Loss Limit (MGIC Form #71-7157 (12/94)), (iv) MGIC Letter of
      Terms, and (v) Commitment Certificates covering $994,605,330.39 aggregate
      principal balance of insurable Mortgage Loans.

     

    “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 Minnesota, the State
      of
      Maryland, 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 pursuant to the second paragraph
      of Section 10.01(a) hereof.

     

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

     

    
      
        
        

      

      
        8

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

    “Certificate
      Insurance Policy”:
      The
      Certificate Guaranty Insurance Policy (No. AB1014BE) with respect to the Insured
      Certificates, and all endorsements thereto dated the Closing Date, issued by
      the
      Certificate Insurer for the benefit of the Holders of the Insured Certificates,
      a form of which is attached hereto as Exhibit O.

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        9

        
          

        

      

      
        
        

      

    

     

    “Certificate
      Register”
and
      “Certificate
      Registrar”:
      The
      register maintained and registrar appointed pursuant to Section 6.02 hereof,
      which initially shall be the Securities Administrator.

     

    “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 Master Servicer, the NIMS Insurer, the Securities Administrator,
      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 3.18.

     

    “Certifying
      Person”:
      As
      defined in Section 3.18.

     

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

     

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

     

    “Class
      B-1 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-1 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date) and
      (ii)
      the Class Principal Balance of the Class B-1 Certificates immediately prior
      to
      such Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 90.5000% and thereafter 92.400%
      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
      $10,033,710.20.

     

    
      
        
        

      

      
        10

        
          

        

      

      
        
        

      

    

     

    “Class
      B-2 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-2 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date) and (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 92.250% and thereafter 93.800% 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
      $10,033,710.20.

     

    “Class
      B-3 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-3 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date) and (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 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
      $10,033,710.20.

     

    “Class
      B-4 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-4 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class M- 3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date) and (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 94.875% and thereafter 95.900% 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
      $10,033,710.20. 

     

    
      
        
        

      

      
        11

        
          

        

      

      
        
        

      

    

     

    “Class
      B-5 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-5 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date) and (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 96.125% and thereafter 96.900% 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
      $10,033,710.20. 

     

    “Class
      B-6 Principal Distribution Amount”:
      For any
      Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-6 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) and (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 97.375% and thereafter 97.900% 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
      $10,033,710.20.

     

    
      
        
        

      

      
        12

        
          

        

      

      
        
        

      

    

     

    “Class
      B-7 Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the lesser of (a) the Class Principal
      Balance of the Class B-7 Certificates immediately prior to such Distribution
      Date and (b) the excess of (x) the sum of (i) the aggregate Class Principal
      Balance of the Senior Certificates (after taking into account the distribution
      of the Senior Principal Distribution Amount on such Distribution Date), (ii)
      the
      Class Principal Balance of the Class B-1 Certificates immediately prior to
      such
      Distribution Date (after taking into account the distribution of the Class
      B-1
      Principal Distribution Amount on such Distribution Date), (iii) the Class
      Principal Balance of the Class B-2 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-2
      Principal Distribution Amount on such Distribution Date), (iv) the Class
      Principal Balance of the Class B-3 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-3
      Principal Distribution Amount on such Distribution Date), (v) the Class
      Principal Balance of the Class B-4 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-4
      Principal Distribution Amount on such Distribution Date), (vi) the Class
      Principal Balance of the Class B-5 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-5
      Principal Distribution Amount on such Distribution Date) (vii) the Class
      Principal Balance of the Class B-6 Certificates immediately prior to such
      Distribution Date (after taking into account the distribution of the Class
      B-6
      Principal Distribution Amount on such Distribution Date)and (viii) the Class
      Principal Balance of the Class B-7 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 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
      $10,033,710.20.

     

    
      
        
        

      

      
        13

        
          

        

      

      
        
        

      

    

     

    “Class
      C Distributable Amount”:
      With
      respect to any Distribution Date, the amount of interest that has accrued on
      the
      Class C Notional Balance, as described in the Preliminary Statement, but that
      has not been distributed pursuant to Section 5.01(a)(1)(iv)(R) hereof prior
      to
      such Distribution Date. In addition, such amount shall include the initial
      Overcollateralized Amount (less the $100 of such amount allocated to the Class
      P
      Certificates) to the extent such amount has not been distributed on prior
      Distribution Dates as part of the Overcollateralization Release
      Amount.

     

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

     

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

     

    “Class
      P Distributable Amount”:
      With
      respect to each Distribution Date, all Prepayment Penalty Amounts in respect
      of
      the Mortgage Loans received by the Servicer for the related Prepayment
      Period.

     

    “Class
      Principal Balance”:
      As to
      any Distribution Date, with respect to any Class of Certificates (other than
      the
      Class C and Class R Certificates), the Original Class Principal Balance as
      (a)
      reduced by the sum of (x) all amounts actually distributed in respect of
      principal of that Class on all prior Distribution Dates (provided, however,
      that
      the Certificate Insurer will be subrogated to the amount of any Realized Losses
      paid by it to the Insured Certificates), (y) all Realized
      Losses, if any, actually
      allocated to that Class on all prior Distribution Dates and (z) in the case
      of
      the Subordinate Certificates, any applicable Writedown Amount, as increased
      by
      the amount of Deferred Interest allocated to such Class of Certificates on
      such
      Distribution Date as set forth in Section 5.02 and (b) increased pursuant to
      Sections 5.01(h) and 5.08; provided,
      that
      any amounts distributed to a Class in respect of Allocated Realized Loss Amounts
      pursuant to Sections 5.01(a)(1)(iv) and 5.01(h) will not further increase the
      Certificate Principal Balance of such Class. 

     

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

     

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

     

    “Closing
      Date”:
      August
      15, 2006.

     

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

     

    
      
        
        

      

      
        14

        
          

        

      

      
        
        

      

    

     

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

     

    “Compensating
      Interest Payment”:
      With
      respect to any Distribution Date, an amount equal to the amount, if any, by
      which (x) the aggregate amount of any Interest Shortfalls (excluding for such
      purpose all shortfalls as a result of Relief Act Reductions) required to be
      paid
      by the Servicer pursuant to the Servicing Agreement with respect to such
      Distribution Date, exceeds (y) the aggregate amount actually paid by the
      Servicer in respect of such shortfalls; provided,
      that
      such
      amount is limited to the Servicing Fee for such Distribution Date; provided,
      further,
      that
      such
      amount, to the extent payable by the Master Servicer (or the Trustee as
      successor Master Servicer), shall not exceed the aggregate Master Servicing
      Fee
      that would be payable to the Master Servicer (or the Trustee as successor Master
      Servicer) in respect of such Distribution Date without giving effect to any
      Compensating Interest Payment. 

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Corporate
      Trust Office”:
      With
      respect to the Trustee, the principal corporate trust office of the Trustee
      at
      which at any particular time its corporate trust business in connection with
      this Agreement shall be administered, which office at the date of the execution
      of this instrument is located at 1761 East St. Andrew Place, Santa Ana,
      California 92705, Attention: HarborView Trust 2006-7, or at such other address
      as the Trustee may designate from time to time by notice to the
      Certificateholders, the Depositor, the Master Servicer, the Securities
      Administrator and the Seller. With respect to the Securities Administrator
      and
      the Certificate Registrar and (i) presentment of Certificates for registration
      of transfer, exchange or final payment, Wells Fargo Bank, National Association,
      Sixth Street and Marquette Avenue, Minneapolis, Minnesota 55479, Attention:
      Corporate Trust, HarborView Mortgage Loan Trust 2006-7, and (ii) for all other
      purposes, P.O. Box 98, Columbia, Maryland 21046 (or for overnight deliveries,
      9062 Old Annapolis Road, Columbia, Maryland 21045), Attention: Corporate Trust,
      HarborView Mortgage Loan Trust 2006-7.

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

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

     

    “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 

              September
                2012 or 

              Stepdown
                Date

            	 	
              Target
                Credit Enhancement 

              Percentage
                on or after 

              September
                2012 or 

              Stepdown
                Date

            
	
              Senior

            	 	
              5.250%

            	 	
              13.125%

            	 	
              10.500%

            
	
              B-1

            	 	
              3.800%

            	 	
              9.500%

            	 	
              7.600%

            
	
              B-2

            	 	
              3.100%

            	 	
              7.750%

            	 	
              6.200%

            
	
              B-3

            	 	
              2.550%

            	 	
              6.375%

            	 	
              5.100%

            
	
              B-4

            	 	
              2.050%

            	 	
              5.125%

            	 	
              4.100%

            
	
              B-5

            	 	
              1.550%

            	 	
              3.875%

            	 	
              3.100%

            
	
              B-6

            	 	
              1.050%

            	 	
              2.625%

            	 	
              2.100%

            
	
              B-7

            	 	
              0.500%

            	 	
              1.250%

            	 	
              1.000%

            

    

     

    “Credit
      Risk Management Agreement”:
      Either
      (i) the credit risk management agreement dated as of the Closing Date, entered
      into by the Servicer and the Credit Risk Manager or (ii) the credit risk
      management agreement dated as of the Closing Date, entered into by the Master
      Servicer and the Credit Risk Manager, as applicable.

     

    “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
      Scheduled Principal Balance of such Mortgage Loan as of the first day of the
      related Collection Period.

     

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

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

     

    “Custodian”:
      Deutsche Bank National Trust Company, and its successors acting as custodian
      of
      the Mortgage Files.

     

    “Cut-off
      Date”:
      With
      respect to any Mortgage Loan other than a Qualified Substitute Mortgage Loan,
      the Close of Business in New York City on August 1, 2006. With respect to any
      Qualified Substitute Mortgage Loan, the date designated as such on the Mortgage
      Loan Schedule (as amended).

     

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

     

    “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).

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

      
        17

        
          

        

      

      
        
        

      

    

     

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

     

    “Determination
      Date”:
      For
      any Distribution Date and each Mortgage Loan, the date each month, as set forth
      in the Servicing Agreement, on which the Servicer determines the amount of
      all
      funds required to be remitted to the Master Servicer 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 Securities Administrator based upon an Opinion
      of Counsel provided to the Securities Administrator by nationally recognized
      counsel acceptable to the Securities Administrator 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 Securities Administrator
      pursuant to Section 4.02 hereof which shall be entitled “Distribution Account,
      Wells Fargo Bank, N.A., as Securities Administrator, on behalf of Deutsche
      Bank
      National Trust Company, as Trustee, in trust for the registered Holders of
      HarborView Mortgage Loan Trust, Mortgage Loan Pass-Through Certificates, Series
      2006-7” 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 the month, or, if such day is not a Business Day, the next Business
      Day commencing in September 2006.

     

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

     

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

     

    
      
        
        

      

      
        18

        
          

        

      

      
        
        

      

    

     

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

     

    “Eligible
      Account”:
      Any
      of:

     

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

     

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

     

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

     

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

     

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

     

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

     

    “ERISA
      Restricted Trust Certificates”:
      The
      Class 1A and Class 2A-1A Certificates.

     

    “Event
      of Default”:
      In
      respect of the Master Servicer, one or more of the events (howsoever described)
      set forth in Section 7.01 hereof as an event or events upon the occurrence
      and
      continuation of which the Master Servicer may be terminated.

     

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

     

    
      
        
        

      

      
        19

        
          

        

      

      
        
        

      

    

     

    “Expense
      Fee”:
      With
      respect to any Mortgage Loan, the sum of (i) the Servicing Fee, (ii) the Master
      Servicing Fee, (iii) any Bulk PMI Fee, if applicable, (iv) the Premium Amount,
      if applicable, and (v) 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 September 2046.

     

    “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 August 2016, zero.
      For
      each Distribution Date on and after the Distribution Date in August 2016 to
      and
      including the earlier of (i) the Distribution Date in September 2026 or (ii)
      the
      termination of the Trust, the product of (x) the quotient of the Final Maturity
      Reserve Rate divided
      by
      12 and
      (y) 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).

     

    “Final
      Maturity Reserve Rate”:
       A
      per
      annum rate equal to the product of (i) 0.80% and (ii) a fraction, the numerator
      of which is the aggregate Stated Principal Balance as of the Cut-off Date of
      the
      Mortgage Loans having 40-year original terms to maturity and the denominator
      of
      which is aggregate Stated Principal Balance as of the Cut-off Date of all of
      the
      Mortgage Loans.

     

    “Final
      Maturity Reserve 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 Section 2.03, 3.25 and 10.01), a determination made by the
      Servicer that all Insurance Proceeds, Liquidation Proceeds and other payments
      or
      recoveries which it expects to be finally recoverable in respect thereof have
      been so recovered.

     

    “Form
      8-K Disclosure Information”:
      As
      defined in Section 3.19(c).

     

    
      
        
        

      

      
        20

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

    “Group
      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, will be the lesser of (a) the greater of (x) the Group 1 Senior Principal
      Distribution Amount and (y) the amount by which the aggregate Class Principal
      Balances of the Group 1 Certificates exceed the Stated Principal Balances of
      the
      Group 1 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 aggregate
      Class Principal Balance of the Group 1 Certificates; provided,
      however,
      that
      with respect to any such Distribution Date on which the aggregate Class
      Principal Balance of the Group 2 Certificates is reduced to zero, the Group
      2
      Senior Principal Distribution Amount available for distribution to the Senior
      Certificates in excess of the amount necessary to reduce the aggregate Class
      Principal Balance of the Group 2 Certificates to zero will be applied to
      increase the Group 1 Principal Distribution Amount (so long as any Class of
      Group 1 Certificates is outstanding).

     

    “Group
      1 Senior Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the excess of (x) the aggregate Class
      Principal Balance of the Group 1 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 86.875% and thereafter 89.500% and
      (ii) the aggregate Stated Principal Balances of the Group 1 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 aggregate Stated Principal Balances
      of
      the Group 1 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
      $10,033,710.20.

     

    
      
        
        

      

      
        21

        
          

        

      

      
        
        

      

    

     

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

     

    “Group
      2 Certificates”:
      The
      Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates.

     

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

     

    “Group
      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, will be the lesser of (a) the greater of (x) the Group 2 Senior Principal
      Distribution Amount and (y) the amount by which the aggregate Class Principal
      Balances of the Group 2 Certificates exceed the Stated Principal Balances of
      the
      Group 2 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 aggregate
      Class Principal Balance of the Group 2 Certificates; provided,
      however,
      that
      with respect to any such Distribution Date on which the aggregate Class
      Principal Balance of the Group 1 Certificates is reduced to zero, the Group
      1
      Senior Principal Distribution Amount available for distribution to the Senior
      Certificates in excess of the amount necessary to reduce the aggregate Class
      Principal Balance of the Group 1 Certificates to zero will be applied to
      increase the Group 2 Principal Distribution Amount (so long as any Class of
      Group 2 Certificates is outstanding).

     

    “Group
      2 Senior Principal Distribution Amount”:
      For
      any Distribution Date, an amount equal to the excess of (x) the aggregate Class
      Principal Balance of the Group 2 Certificates immediately prior to such
      Distribution Date over (y) the lesser of (A) the product of (i) for each
      Distribution Date prior to September 2012, 86.875% and thereafter 89.500% and
      (ii) the aggregate Stated Principal Balances of the Group 2 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 aggregate Stated Principal Balances
      of
      the Group 2 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
      $10,033,710.20.

     

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

     

    
      
        
        

      

      
        22

        
          

        

      

      
        
        

      

    

     

    “Indemnified
      Persons”:
      The
      Trustee (individually in its corporate capacity and in all capacities
      hereunder), the Master Servicer, the Depositor, the Custodian, the Securities
      Administrator (in all capacities hereunder), the NIMS Insurer and the
      Certificate Insurer and their officers, directors, agents and employees and,
      with respect to the Trustee, any separate co-trustee and its officers,
      directors, agents and employees.

     

    “Independent”:
      When
      used with respect to any accountants, a Person who is “independent” within the
      meaning of Rule 2-01(B) of the Securities and Exchange Commission’s Regulation
      S-X. Independent means, when used with respect to any other Person, a Person
      who
      (A) is in fact independent of another specified Person and any affiliate of
      such
      other Person, (B) does not have any material direct or indirect financial
      interest in such other Person or any affiliate of such other Person, (C) is
      not
      connected with such other Person or any affiliate of such other Person as an
      officer, employee, promoter, underwriter, trustee, partner, director or Person
      performing similar functions and (D) is not a member of the immediate family
      of
      a Person defined in clause (B) or (C) above.

     

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

     

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

     

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

     

    “Initial
      LIBOR Rate”:
      5.389%.

     

    “Initial
      Loan Group 1 Balance”:
      $798,285,739.68.

     

    “Initial
      Loan Group 2 Balance”:
      $1,208,456,182.52.

     

    “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.

     

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

     

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

     

    “Insurer
      Premium Rate”:
      0.07%
      per annum.

     

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

     

    
      
        
        

      

      
        23

        
          

        

      

      
        
        

      

    

     

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

     

    “Interest
      Shortfall”:
      With
      respect to any Distribution Date and each Mortgage Loan that during the related
      Prepayment Period was the subject of a Principal Prepayment or a reduction
      of
      its Monthly Payment under the Relief Act, constitutes an amount determined
      as
      follows:

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “LIBOR”:
      With
      respect to the first Accrual Period, the Initial LIBOR Rate. With respect to
      each subsequent Accrual Period, a per annum rate determined on the LIBOR
      Determination Date in the following manner by the Securities Administrator
      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.

     

    
      
        
        

      

      
        24

        
          

        

      

      
        
        

      

    

     

    (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 Securities Administrator
      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 Securities Administrator 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 Securities Administrator (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 Securities Administrator and the Securities
      Administrator’s subsequent calculation of the Pass-Through Rate applicable to
      the LIBOR Certificates for the relevant Accrual Period, in the absence of
      manifest error, will be final and binding.

     

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

     

    “LIBOR
      Certificates”:
      The
      Class 1A, Class 2A-1A, Class 2A-1B, Class 2A-1C Certificates and the Subordinate
      Certificates.

     

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

     

    “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.

     

    
      
        
        

      

      
        25

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    “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.

     

    
      
        
        

      

      
        26

        
          

        

      

      
        
        

      

    

     

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

     

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

     

    “Master
      Servicer”:
      Wells
      Fargo Bank, N.A., or any successor Master Servicer appointed as herein
      provided.

     

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

     

    “Master
      Servicing Fee Rate”:
      0.0025% per annum.

     

    “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.

     

    “MGIC”:
      Mortgage Guaranty Insurance Corporation, or any successor in
      interest.

     

    “MGIC
      Letter of Terms”:
      With
      respect to the Bulk PMI Policy with MGIC, the Letter of Terms for MGIC Mortgage
      Insurance Coverage of $994,605,330.39 in principal balance of insurance mortgage
      loans dated as of August 15, 2006, between MGIC and the Trustee.

     

    “MIN”:
      The
      Mortgage Identification Number for any MERS Mortgage Loan.

     

    “MOM
      Loan”:
      Any
      Mortgage Loan as to which MERS is acting as mortgagee, solely as nominee for
      the
      originator of such Mortgage Loan and its successors and assigns.

     

    “Monthly
      Interest Distributable Amount”:
      With
      respect to each Class of Certificates (other than the Class C, Class P and
      Class
      R Certificates) and any Distribution Date, the amount of interest accrued during
      the related Accrual Period at the lesser of the related Pass-Through Rate and
      the related Adjusted Cap Rate on the Class Principal Balance of that Class
      immediately prior to that Distribution Date, in each case, reduced by any
      Prepayment Interest Shortfalls allocated to such Class and Relief Act Reductions
      (allocated to each Certificate based on its respective entitlements to interest
      irrespective of any Prepayment Interest Shortfalls or Relief Act Reductions
      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.

     

    
      
        
        

      

      
        27

        
          

        

      

      
        
        

      

    

     

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

     

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

     

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

     

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

     

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

     

    “Mortgage
      Loan Purchase Agreement”:
      The
      Mortgage Loan Purchase Agreement between the Seller and the Depositor, dated
      as
      of August 1, 2006, regarding the transfer of the Mortgage Loans by the Seller
      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;

              

      

       

      
        
          
          

        

        
          28

          
            

          

        

        
          
          

        

      

       

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

              

      

       

      
        	
              	(vi)	
                the
                  original months to maturity;

              

      

       

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

              

      

       

      
        	
              	(viii)	
                the
                  Loan-to-Value Ratio at origination;

              

      

       

      
        	
              	(ix)	
                the
                  Loan-to-Collateral Value Ratio at
                  origination;

              

      

       

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

              

      

       

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

              

      

       

      
        	
              	(xii)	
                the
                  stated maturity date;

              

      

       

      
        	
              	(xiii)	
                the
                  Servicing Fee Rate;

              

      

       

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

              

      

       

      
        	
              	(xv)	
                the
                  original principal balance of the Mortgage
                  Loan;

              

      

       

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

              

      

       

      
        	
              	(xvii)	
                the
                  Index and Gross Margin specified in related Mortgage
                  Note;

              

      

       

      
        	
              	(xviii)	
                the
                  next Adjustment Date, if
                  applicable;

              

      

       

      
        	
              	(xix)	
                the
                  Maximum Loan Rate, if applicable;

              

      

       

      
        	
              	(xx)	
                the
                  Value of the Mortgaged Property;

              

      

       

      
        	
              	(xxi)	
                the
                  sale price of the Mortgaged Property, if
                  applicable;

              

      

       

      
        	
              	(xxii)	
                the
                  product code;

              

      

       

      
        	
              	(xxiii)	
                whether
                  the Mortgage Loan is a Lender-Paid Mortgage Insurance Loan or whether
                  the
                  Mortgage Loan is covered by any Bulk PMI Policy, and the applicable
                  Lender-Paid Mortgage Insurance Fee Rate or Bulk PMI Fee Rate, as
                  applicable;

              

      

       

      
        
          
          

        

        
          29

          
            

          

        

        
          
          

        

      

       

      
        	
              	(xxiv)	
                Expense
                  Fee Rate therefor; and

              

      

       

      
        	
              	(xxv)	
                the
                  respective Loan Group.

              

      

       

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

        

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

         

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

         

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

         

        “Mortgagor”:
          The
          obligor on a Mortgage Note.

         

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

         

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

         

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

         

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

         

        
          
            
            

          

          
            30

            
              

            

          

          
            
            

          

        

         

        “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, related
          Master
          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 on and after the Distribution Date in August 2016,
          until
          the earlier of (i) the Distribution Date in September 2026 and (ii) the
          termination of the Trust, 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) on and after the Distribution Date in August 2016 until the earlier
          of
          (i) the Distribution Date in September 2026 and (ii) the termination of
          the
          Trust, the Final Maturity Reserve Rate.

         

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

         

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

         

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

         

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

         

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

         

        
          
            
            

          

          
            31

            
              

            

          

          
            
            

          

        

         

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

         

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

         

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

         

        “Officers’
          Certificate”:
          A
          certificate signed by the Chairman of the Board, the Vice Chairman of the
          Board,
          the President or a vice president (however denominated), or by the Treasurer,
          the Secretary, or one of the assistant treasurers or assistant secretaries
          of
          the Seller, the Master Servicer 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 or the Securities
          Administrator, as applicable, except that any opinion of counsel relating
          to (a)
          the qualification of any REMIC created hereunder as a REMIC or (b) compliance
          with the REMIC Provisions must be an opinion of Independent
          counsel.

         

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

         

        “Originator”:
          American Home Mortgage Corp.

         

        “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.

         

        
          
            
            

          

          
            32

            
              

            

          

          
            
            

          

        

         

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

         

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

         

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

         

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

         

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

         

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

         

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

                

        

         

        
          	
                	(ii)	
                  The
                    Pass-Through Rate for the Class 2A-1A Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.200%
                    per annum (0.400% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          
            
            

          

          
            33

            
              

            

          

          
            
            

          

        

         

        
          	
                	(iii)	
                  The
                    Pass-Through Rate for the Class 2A-1B Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.250%
                    per annum (0.500% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	
                	(iv)	
                  The
                    Pass-Through Rate for the Class 2A-1C Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.200%
                    per annum (0.400% 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 B-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.
                    

                

        

         

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

                

        

         

        
          	
                	(vii)	
                  The
                    Pass-Through Rate for the Class B-3 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.430%
                    per annum (0.645% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	
                	(viii)	
                  The
                    Pass-Through Rate for the Class B-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.
                    

                

        

         

        
          	
                	(ix)	
                  The
                    Pass-Through Rate for the Class B-5 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 0.600%
                    per annum (0.900% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          	
                	(x)	
                  The
                    Pass-Through Rate for the Class B-6 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 1.150%
                    per annum (1.725% per annum after the Call Option Date), (ii) the Net
                    WAC Cap for that Distribution Date and (iii) the Net Maximum
                    Rate Cap.
                    

                

        

         

        
          
            
            

          

          
            34

            
              

            

          

          
            
            

          

        

         

        
          	
                	(xi)	
                  The
                    Pass-Through Rate for the Class B-7 Certificates with respect
                    to any
                    Distribution Date shall equal the least of (i) One-Month LIBOR
                    plus 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
          Securities Administrator.

         

        “PCAOB”:
          The
          Public Company Accounting Oversight Board.

         

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

         

        “Permitted
          Investments”:
          Any
          one or more of the following obligations or securities acquired at a purchase
          price of not greater than par, regardless of whether issued or managed
          by the
          Depositor, the Master 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 Master 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 the Rating
                    Agencies;

                

        

         

        
          
            
            

          

          
            35

            
              

            

          

          
            
            

          

        

         

        
          	
                	(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, the Securities Administrator or any affiliate of the
                    Securities
                    Administrator or for which the NIMS Insurer, the Securities Administrator
                    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 each of the Securities Administrator
                    or
                    the NIMS Insurer may trade with itself or an affiliate when purchasing
                    or
                    selling Permitted Investments; and

                

        

         

        
          	
                	(vii)	
                  if
                    previously confirmed in writing to the Securities Administrator,
                    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 rating of the Senior
                    Certificates;

                

        

         

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

         

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

         

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

         

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

         

        “Policy
          Account”:
          The
          trust account or accounts created and maintained by the Securities
          Administrator, on behalf of the Trustee pursuant to Section 4.05 hereof
          in the
          name of the Trustee for the benefit of the Class 2A-1C Certificateholders
          and
          designated “Policy Account, Deutsche Bank National Trust Company, as Trustee, in
          trust for the registered Certificateholders of HarborView Mortgage Loan
          Trust
          2006-7, HarborView Mortgage Pass-Through Certificates, Series 2006-7, Class
          2A-1C Certificates.”

         

        
          
            
            

          

          
            36

            
              

            

          

          
            
            

          

        

         

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

         

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

         

        “Premium
          Amount”:
          As to
          any Distribution Date and each Class of Insured Certificates, the product
          of (i)
          one-twelfth of the Insurer Premium Rate and (ii) the aggregate Class Principal
          Balance of the Class 2A-1C Certificates on the immediately preceding
          Distribution Date, or, in the case of the first Distribution Date, the
          Closing
          Date, in each case after giving effect to distributions of principal made
          on
          such Distribution Date.

         

        “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 any unpaid Master Servicing Fees and
          Servicing Fees and (iii) all amounts, if any, then due and owing to the
          Trustee,
          the Master Servicer, the Securities Administrator, the Credit Risk Manager
          and
          the Certificate Insurer under this Agreement.

         

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

         

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

         

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

         

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

         

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

         

        
          
            
            

          

          
            37

            
              

            

          

          
            
            

          

        

         

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

         

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

         

        “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.

         

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

         

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

         

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

         

        
          
            
            

          

          
            38

            
              

            

          

          
            
            

          

        

         

        “Prospectus”:
          The
          Prospectus Supplement, together with the accompanying prospectus, dated
          April
          26, 2006, relating to the Offered Certificates.

         

        “Prospectus
          Supplement”:
          That
          certain prospectus supplement dated August 10, 2006, relating to the initial
          offering of the Offered Certificates.

         

        “Purchase
          Agreement”:
          The
          Master Mortgage Loan Purchase and Servicing Agreement dated as of May 1,
          2006,
          between GCFP, as purchaser, American Home Mortgage Servicing, Inc., as
          servicer
          and American Home Mortgage Investment Corp., as seller, as the same may
          be
          amended from time to time, and any assignments and conveyances related
          to the
          Mortgage Loans.

         

        “Purchase
          Price”:
          With
          respect to any Mortgage Loan or REO Property to be purchased pursuant to
          or as
          contemplated by Section 2.03 hereof, and as confirmed by an Officers’
Certificate from the Seller to the Trustee and the Securities Administrator,
          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 is 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 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.

         

        
          
            
            

          

          
            39

            
              

            

          

          
            
            

          

        

         

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

         

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

         

        “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
          reconstitution agreement dated as of August 1, 2006 among the Seller, the
          Depositor and the Servicer and acknowledged by the Master Servicer and
          the
          Trustee, reconstituting the Servicing Agreement.

         

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

         

        
          
            
            

          

          
            40

            
              

            

          

          
            
            

          

        

         

        “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 Securities Administrator and shall have an established
          place of business in London. Until all of the LIBOR Certificates are paid
          in
          full, the Securities Administrator will at all times retain at least four
          Reference Banks for the purpose of determining LIBOR with respect to each
          LIBOR
          Determination Date. The Securities Administrator 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 Securities
          Administrator should terminate its appointment as Reference Bank, the Securities
          Administrator shall promptly appoint or cause to be appointed another Reference
          Bank (after consultation with the Depositor). The Securities Administrator
          shall
          have no liability or responsibility to any Person for (i) the selection
          of any
          Reference Bank for purposes of determining LIBOR or (ii) any inability
          to retain
          at least four Reference Banks which is caused by circumstances beyond its
          reasonable control.

         

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

         

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

         

        “Regulation
          AB”:
          Subpart 229.1100 - Asset Backed Securities (Regulation AB), 17 C.F.R.
§§229.1100-229.1123, as such may be amended from time to time, and subject
          to
          such clarifications and interpretations as have been provided by the Commission
          in the adopting release (Asset-Backed Securities, Securities Act Release
          No.
          33-8518, 70 Fed. Reg. 1,506, 1,531 (Jan. 7, 2005)) or by the staff of the
          Commission, or as may be provided by the Commission or its staff from time
          to
          time.

         

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

         

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

         

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

         

        
          
            
            

          

          
            41

            
              

            

          

          
            
            

          

        

         

        “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
          Master Servicer’s Remittance Report to the Securities Administrator providing
          information with respect to each Mortgage Loan which is provided no later
          than
          the second Business Day following each Determination Date and which shall
          contain such information as may be agreed upon by the Master Servicer and
          the
          Securities Administrator and which shall be sufficient to enable the Securities
          Administrator 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.

         

        
          
            
            

          

          
            42

            
              

            

          

          
            
            

          

        

         

        “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 Master Servicing Fees and 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.

         

        “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 unpaid Basis Risk Shortfalls for such
          Distribution Date with respect to the LIBOR certificates (after giving
          effect to
          distributions of amounts received pursuant to the Yield Maintenance Agreement)
          and (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.

         

        
          
            
            

          

          
            43

            
              

            

          

          
            
            

          

        

         

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

         

        “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 Master Servicer 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 Master Servicer,
          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
          Master Servicer, the Depositor and the Seller following a negotiation in
          good
          faith to determine how to comply with any such new requirements.

         

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

         

        “Securities
          Administrator”:
          Wells
          Fargo Bank, N.A., or its successor in interest, or any successor securities
          administrator appointed as herein provided.

         

        “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 1A, Class 2A-1A, Class 2A-1B and Class 2A-1C
          Certificates.

         

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

         

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

         

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

         

        
          
            
            

          

          
            44

            
              

            

          

          
            
            

          

        

         

        “Senior
          Principal Distribution Amount”:
          For
          any Distribution Date, an amount equal to the sum of (i) the Group 1 Senior
          Principal Distribution Amount and (ii) the Group 2 Senior Principal Distribution
          Amount.

         

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

         

        “Servicer”:
          American Home Mortgage Servicing, Inc. 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 and the Master Servicer (including the Trustee
          in its
          capacity as successor Master Servicer), all customary, reasonable and necessary
          “out of pocket” costs and expenses (including reasonable attorneys’ fees and
          expenses) incurred by the Servicer in the performance of its servicing
          obligations under the Servicing Agreement or by the Master Servicer (including
          the Trustee in its capacity as successor Master Servicer) in the performance
          of
          its obligations hereunder, 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) any other expenses
          permitted to be reimbursed as Servicing Advances under the Servicing Agreement,
          as applicable.

         

        “Servicing
          Agreement”:
          The
          Purchase Agreement, 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 each Mortgage Loan and for any calendar month, the fee payable
          to the
          Servicer as set forth on the Mortgager Loan Schedule.

         

        “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 Master Servicer, a
          Custodian and the Securities Administrator, respectively.

         

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

         

        
          
            
            

          

          
            45

            
              

            

          

          
            
            

          

        

         

        “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 September
          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. With respect to any REO Property: (x) as of any
          date of determination up to and including the Distribution Date on which
          the
          proceeds, if any, of a Liquidation Event with respect to such REO Property
          would
          be distributed, an amount (not less than zero) equal to the Stated Principal
          Balance of the related Mortgage Loan as of the date on which such REO Property
          was acquired on behalf of the Trust Fund, minus the aggregate amount of
          REO
          Principal Amortization in respect of such REO Property for all previously
          ended
          calendar months, to the extent distributed pursuant to Section 5.01 before
          such date of determination; and (y) as of any date of determination
          subsequent to the Distribution Date on which the proceeds, if any, of a
          Liquidation Event with respect to such REO Property would be distributed,
          zero.

         

        “Stepdown
          Date”:
          The
          earlier to occur of (i) the first Distribution Date on which the aggregate
          Certificate Principal Balance of the Class 1A, Class 2A-1A, Class 2A-1B
          and
          Class 2A-1C Certificates has been reduced to zero and (ii) the later to
          occur of
          (x) the Distribution Date occurring in September 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 September 2012, 13.125% and (b) on or after the
          Distribution Date in September 2012, 10.500%.

         

        “Strike
          Rate”:
          With
          respect to any Distribution Date and the Yield Maintenance Agreement, the
          strike
          rate for such date as listed 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 Master Servicer, the Trustee, the Custodian or the Securities
          Administrator.

         

        
          
            
            

          

          
            46

            
              

            

          

          
            
            

          

        

         

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

         

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

        

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

         

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

         

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

         

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

         

        “Tax
          Returns”:
          The
          federal income tax return on Internal Revenue Service Form 1066, U.S. Real
          Estate Mortgage Investment Conduit Income Tax Return, including Schedule
          Q
          thereto, Quarterly Notice to Residual Interest Holders of the REMIC Taxable
          Income or Net Loss Allocation, or any successor forms, to be filed on behalf
          of
          each of the REMICs created hereunder under the REMIC Provisions, together
          with
          any and all other information reports or returns that may be required to
          be
          furnished to the Certificateholders or filed with the Internal Revenue
          Service
          or any other governmental taxing authority under any applicable provisions
          of
          federal, state or local tax laws.

         

        
          
            
            

          

          
            47

            
              

            

          

          
            
            

          

        

         

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

         

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

         

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

         

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

         

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

         

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

         

        (a) the
          sum
          of the percentages obtained by dividing (x) the aggregate Stated Principal
          Balance of Mortgage Loans delinquent 60 days or more, that are in foreclosure
          or
          that are REO Properties by (y) the aggregate Stated Principal Balance of
          the
          Mortgage Loans, in each case, as of the last day of the previous three
          calendar
          months divided
          by
          3,
          exceeds (i) prior to the Distribution Date in September 2012, 45.70% of
          the
          current Credit Enhancement Percentage or (ii) on or after the Distribution
          Date
          in September 2012, 47.50% 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:

         

        
          	
                  Distribution
                    Date Occurring In

                	 	
                  Percentage

                
	
                  September
                    2008 - August 2009

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

                
	
                  September
                    2009 - August 2010

                	 	
                  0.40%
                    for the first month plus an additional 1/12th
                    of
                    0.35% for each month thereafter

                
	
                  September
                    2010 - August 2011

                	 	
                  0.75%
                    for the first month plus an additional 1/12th
                    of
                    0.30% for each month thereafter

                
	
                  September
                    2011 - August 2012 

                	 	
                  1.05%
                    for the first month plus an additional 1/12th
                    of
                    0.30% for each month thereafter

                
	
                  September
                    2012 and thereafter

                	 	
                  1.35%
                    

                

        

        

        
          
            
            

          

          
            48

            
              

            

          

          
            
            

          

        

         

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

         

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

         

        “Trustee
          Fee”:
          The
          annual on-going fee as agreed to by the Trustee and the Master Servicer
          and
          payable by the Master Servicer on behalf of the Trust Fund to the Trustee
          from
          the Master Servicer’s own funds pursuant to the terms of the separate fee letter
          agreement between the Trustee and the Master Servicer.

         

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

         

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

         

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

         

        
          
            
            

          

          
            49

            
              

            

          

          
            
            

          

        

         

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

         

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

         

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

         

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

         

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

         

        (i) the
          value
          of such Mortgaged Property as determined by an appraisal made for the originator
          of the Mortgage Loan at the time of origination of the Mortgage Loan by
          an
          appraiser who met the minimum requirements of Fannie Mae and Freddie Mac;
          and

         

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

         

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

         

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

         

        
          
            
            

          

          
            50

            
              

            

          

          
            
            

          

        

         

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

         

        “Yield
          Maintenance Account”:
          The
          account maintained by the Securities Administrator pursuant to Section
          5.10
          which shall be entitled “Yield Maintenance Account, Wells Fargo Bank, N.A., in
          trust for the registered Holders of HarborView Mortgage Loan Trust, Mortgage
          Loan Pass-Through Certificates, Series 2006-7” and which must be an Eligible
          Account.

         

        “Yield
          Maintenance Agreement”:
          The
          interest rate cap agreement 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.403390HN/ 403391HN),
          dated as of July 24, 2006. 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 August 15, 2006, among the Administrator, the
          Securities Administrator and the Sponsor, a copy of which is attached hereto
          as
          Exhibit M.

         

        “Yield
          Maintenance Distributable Amount”:
          With
          respect to each Distribution Date and the Offered Certificates, an amount
          equal
          to the product of (i) the excess, if any, of (x) LIBOR, subject to a maximum
          of
          9.075%, over (y) the applicable Strike Rate, (ii) the related Yield Maintenance
          Notional Balance and (iii) a fraction, the numerator of which is the actual
          number days in the related interest Accrual Period and the denominator
          of which
          is 360.

         

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

         

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

         

        
          
            
            

          

          
            51

            
              

            

          

          
            
            

          

        

         

        “Yield
          Maintenance Provider”:
          HSBC
          Bank USA, National Association.

         

        “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 established 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 and the Certificate Insurer all
          the
          right, title and interest of the Depositor, including any security interest
          therein for the benefit of the Depositor, in and to (i) each Mortgage Loan
          identified on the Mortgage Loan Schedule, including the related Cut-off
          Date
          Principal Balance, all interest due thereon after the Cut-off Date and
          all
          collections in respect of interest and principal due after the Cut-off
          Date;
          (ii) all the Depositor’s right, title and interest in and to the Distribution
          Account and all amounts from time to time credited to and to the proceeds
          of the
          Distribution Account; (iii) any real property that secured each such Mortgage
          Loan and that has been acquired by foreclosure or deed in lieu of foreclosure;
          (iv) the Depositor’s interest in any insurance policies in respect of the
          Mortgage Loans; (v) all proceeds of any of the foregoing; and (vi) all
          other
          assets included or to be included in the Trust Fund. Such assignment includes
          all interest and principal due to the Depositor or the Master Servicer
          after the
          Cut-off Date with respect to the Mortgage Loans. In exchange for such transfer
          and assignment, the Depositor shall receive the Certificates.

         

        It
          is
          acknowledged and agreed that the Securities Administrator 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
          Agreement and the Yield Maintenance Allocation 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 Securities
          Administrator shall apply to the Administrator’s execution and performance of
          its duties and obligations under the Yield Maintenance Agreement and the
          Yield
          Maintenance Allocation Agreement. 

         

        
          
            
            

          

          
            52

            
              

            

          

          
            
            

          

        

         

        The
          Depositor hereby directs the Securities Administrator to execute, not in
          its
          individual capacity, but solely as Securities Administrator on behalf of
          the
          Trust, 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.

         

        Concurrently
          with the execution of this Agreement, the MGIC Letter of Terms shall be
          delivered to the Trustee on behalf of the Issuing Entity. In connection
          therewith, the Depositor hereby directs the Trustee (solely in its capacity
          as
          such) and the Trustee is hereby authorized to execute and deliver the MGIC
          Letter of Terms for the benefit of the Certificateholders. The Seller,
          the
          Depositor and the Certificateholders (by their acceptance of the Certificates)
          acknowledge and agree that the Trustee is executing and delivering the
          MGIC
          Letter of Terms solely in its capacity as Trustee of the Trust Fund, and
          not in
          its individual capacity.

         

        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 to the extent assigned in the Mortgage Loan Purchase 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 Loans. The foregoing sale, transfer, assignment, set-over,
          deposit
          and conveyance does not and is not intended to result in creation or assumption
          by the Trustee of any obligation of the Depositor, the Seller or any other
          Person in connection with the Mortgage Loans or any other agreement or
          instrument relating thereto except as specifically set forth
          herein.

         

        In
          connection with such transfer and assignment, 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:

         

        
          
            
            

          

          
            53

            
              

            

          

          
            
            

          

           

        

        
          	
                	
                  (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 2006-7, 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; provided,
                    however,
                    that such substitutions of Lost Note Affidavits for original
                    Mortgage
                    Notes may occur only with respect to Mortgage Loans the aggregate
                    Cut-off
                    Date Principal Balance of which is less than or equal to 2% of
                    the Cut-off
                    Date Aggregate Principal Balance;

                

        

         

        
          	
                	(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, 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;

                

        

         

        
          	
                	(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 2006-7, without
                    recourse;”

                

        

         

        
          
            
            

          

          
            54

            
              

            

          

          
            
            

          

        

         

        
          	
                	(v)	
                  in
                    the case of each Mortgage Loan that is not a MERS Mortgage Loan,
                    an
                    original copy of any intervening assignment of mortgage 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, the Trustee and the Master Servicer),
          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 2006-7.
          Notwithstanding anything herein to the contrary, the Master Servicer and
          Securities Administrator are 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 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, the Trustee
          and
          the Master Servicer) 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, the Trustee and the Master Servicer),
          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.

         

        
          
            
            

          

          
            55

            
              

            

          

           

        

      

    

     

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

     

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

     

    For
      Mortgage Loans (if any) that have been prepaid in full after the Cut-off Date
      and prior to the Closing Date, the Seller, in lieu of delivering the above
      documents, herewith delivers to any NIMS Insurer, the Certificate Insurer and
      the Trustee, or to the Custodian on behalf of the Trustee, 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
      Master Servicer or the Servicer in trust for the Trustee, for the benefit of
      the
      Trust Fund and 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.

     

    SECTION
      2.02. Acceptance by Trustee.

     

    The
      Trustee hereby accepts its appointment as Custodian hereunder and acknowledges
      the receipt, subject to the provisions of Section 2.01 and subject to the review
      described below and any exceptions noted on the exception report described
      in
      the next paragraph below, of the documents referred to in Section 2.01 above
      and
      all other assets included in the definition of “Trust Fund” and declares that,
      in its capacity as Custodian, it holds and will hold such documents and the
      other documents delivered to it constituting a Mortgage File, and that it holds
      or will hold all such assets and such other assets included in the definition
      of
“Trust Fund” in trust for the exclusive use and benefit of all present and
      future Certificateholders.

    
      
        
        

      

      
        56

        
          

        

      

       

    

     

    The
      Trustee further agrees, for the benefit of the Certificateholders, to 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 reviewed by 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 is 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 shall deliver to the
      Depositor, any NIMS Insurer and the Seller a final certification in the form
      annexed hereto as Exhibit G-3 evidencing the completeness of the Mortgage Files,
      with any applicable exceptions noted thereon.

     

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

     

    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.

    
      
        
        

      

      
        57

        
          

        

      

       

    

     

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

     

    (a) Upon
      its
      discovery or receipt of written notice of any materially defective document
      in,
      or that a document is missing from, a Mortgage File or of the breach by the
      Originator of any representation, warranty or covenant under the Purchase
      Agreement in respect of any Mortgage Loan which materially adversely affects
      the
      value of that Mortgage Loan or the interest therein of the Certificateholders
      or
      the Certificate Insurer, the Trustee shall promptly notify the Originator of
      such defect, missing document or breach and request that the Originator deliver
      such missing document or cure such defect or breach within 90 days from the
      date
      that the Seller 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) any Mortgage Loan as to which a document
      is
      missing, a material defect in a constituent document exists or as to which
      such
      a breach has occurred and is continuing shall constitute the sole remedy against
      the Originator respecting such omission, defect or breach available to the
      Trustee or any NIMS Insurer on behalf of the Certificateholders.

     

    (b) Upon
      discovery or receipt of written notice that a document does not comply with
      the
      requirements of Section 2.01 hereof, or that a document is missing from, a
      Mortgage File or of the breach by the Seller of any representation, warranty
      or
      covenant under the Mortgage Loan Purchase Agreement or in Section 2.04 or
      Section 2.08 hereof in respect of any Mortgage Loan which materially adversely
      affects the value of that Mortgage Loan or the interest therein of the
      Certificateholders or the Certificate Insurer, the Trustee (or the Custodian
      as
      its designated agent) 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. 

     

    
      
        
        

      

      
        58

        
          

        

      

       

    

     

    (c) The
      Purchase Price or Repurchase Price (as defined in the related 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 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 shall have no further
      responsibility with regard to such Mortgage File (it being understood that
      the
      Trustee 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) 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.

     

    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).

     

    (d) 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 applicable Servicer to take),
      at
      the expense of the Seller (with the cooperation of the Depositor, the Trustee
      and the Master Servicer), 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.

     

    (e) [Reserved].

     

    (f) 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 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 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 related 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 Trustee, shall deliver to the Seller and the Master Servicer 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, the Master
      Servicer and the Securities Administrator. 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 Securities Administrator for deposit in the
      Distribution Account an amount equal to the related Substitution Adjustment,
      if
      any, and 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 NIMS
      Insurer and 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.

    
      
        
        

      

      
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    (g) Upon
      discovery by the Seller, the Master Servicer, 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(d), 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.

     

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

     

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

     

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

     

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

     

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

    
      
        
        

      

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

     

    (iv) [Reserved];

     

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

     

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

     

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

     

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

     

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

     

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

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

    
      
        
        

      

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

     

    SECTION
      2.05. [Reserved].

     

    SECTION
      2.06. Representations and Warranties of the Depositor.

     

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

     

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

     

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

     

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

    
      
        
        

      

      
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    (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

     

    (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.

     

    
      
        
        

      

      
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    SECTION
      2.07. Issuance of Certificates.

     

    The
      Trustee acknowledges the assignment to it of the Mortgage Loans and the delivery
      to it 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 Securities Administrator,
      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 and the Certificate Insurer that, as of the Closing Date
      or
      as of such date specifically provided herein:

     

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

     

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

     

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

    
      
        
        

      

      
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    (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.

     

    (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.

    
      
        
        

      

      
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    SECTION
      2.09. Covenants of the Seller. 

     

    The
      Seller hereby covenants that, except for the transfer hereunder, the Seller
      will
      not sell, pledge, assign or transfer to any other Person, or grant, create,
      incur, assume or suffer to exist any lien on any Mortgage Loan, or any interest
      therein; the Seller will notify the Trustee, as assignee of the Depositor,
      and
      the Master Servicer 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 Master
      Servicer, the Securities Administrator, the Trustee, the Servicer, the
      Certificate Insurer and the Depositor a complete list of each party to the
      HarborView Mortgage Loan Trust 2006-7 transaction.

     

    ARTICLE
      III

     

    ADMINISTRATION
      AND MASTER SERVICING OF THE MORTGAGE LOANS;
      CREDIT
      RISK MANAGER

     

    SECTION
      3.01. Master Servicer to Service and Administer the Mortgage
      Loans. 

     

    The
      Master Servicer shall supervise, monitor and oversee the obligation of the
      Servicer to service and administer the Mortgage Loans in accordance with the
      terms of the Servicing Agreement and shall have full power and authority to
      do
      any and all things which it may deem necessary or desirable in connection with
      such master servicing and administration. In performing its obligations
      hereunder, the Master Servicer shall act in a manner consistent with Accepted
      Master Servicing Practices. Furthermore, the Master Servicer shall oversee
      and
      consult with the Servicer as necessary from time-to-time to carry out the Master
      Servicer’s obligations hereunder, shall receive, review and evaluate all
      reports, information and other data provided to the Master Servicer by the
      Servicer and shall cause the Servicer to perform and observe the covenants,
      obligations and conditions to be performed or observed by the Servicer under
      the
      Servicing Agreement. Notwithstanding anything in this Agreement, the Servicing
      Agreement or the Credit Risk Management Agreement to the contrary, the Master
      Servicer 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. The Master Servicer shall
      independently and separately monitor the Servicer’s servicing activities with
      respect to each related Mortgage Loan, reconcile the results of such monitoring
      with such information provided in the previous sentence on a monthly basis
      and
      coordinate corrective adjustments to the Servicer’s and Master Servicer’s
      records, and provide such reconciled and corrected information to the Securities
      Administrator to enable it to prepare the statements specified in Section 5.04
      and any other information and statements required of the Securities
      Administrator hereunder.

    
      
        
        

      

      
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    The
      Trustee shall furnish the Servicer and the Master Servicer with any limited
      powers of attorney and other documents in form acceptable to the Trustee,
      necessary or appropriate to enable the Servicer and the Master Servicer to
      service and administer the related Mortgage Loans and REO Property, which
      limited powers of attorney shall provide that the Trustee will not be liable
      for
      the actions or omissions of the Servicer or Master Servicer in exercising such
      powers. 

     

    The
      Master Servicer shall not without the Trustee’s written consent (i) initiate any
      action, suit or proceeding solely under the Trustee’s name without indicating
      the Master Servicer’s representative capacity or (ii) take any action with the
      intent to cause, and which actually does cause, the Trustee to be registered
      to
      do business in any state. The Master Servicer shall indemnify the Trustee for
      any and all costs, liabilities and expenses incurred by the Trustee in
      connection with the negligent or willful misuse of such powers of attorney
      by
      the Master Servicer.

     

    The
      Trustee shall provide access to the records and documentation in possession
      of
      the Trustee (including in its capacity as Custodian hereunder) regarding the
      related Mortgage Loans and REO Property and the servicing thereof to the
      Certificateholders, the FDIC, and the supervisory agents and examiners of the
      FDIC, such access being afforded only upon reasonable prior written request
      and
      during normal business hours at the office of the Trustee; provided,
      however,
      that,
      unless otherwise required by law, the Trustee shall not be required to provide
      access to such records and documentation if the provision thereof would violate
      the legal right to privacy of any Mortgagor. The Trustee shall allow
      representatives of the above entities to photocopy any of the records and
      documentation and shall provide equipment for that purpose at a charge that
      covers the Trustee’s actual costs.

     

    The
      Trustee, upon written request of the Servicer or the Master Servicer, as
      applicable, shall execute and deliver to the Servicer and the Master Servicer
      any court pleadings, requests for trustee’s sale or other documents necessary or
      desirable to (i) the foreclosure or trustee’s sale with respect to a Mortgaged
      Property; (ii) any legal action brought to obtain judgment against any Mortgagor
      on the Mortgage Note or Mortgage; (iii) obtain a deficiency judgment against
      the
      Mortgagor; or (iv) enforce any other rights or remedies provided by the Mortgage
      Note or Mortgage or otherwise available at law or equity.

     

    SECTION
      3.02. REMIC-Related Covenants.

     

    For
      as
      long as each REMIC created hereunder shall exist, the Trustee and the Securities
      Administrator shall act in accordance herewith to treat each such REMIC as
      a
      REMIC, and the Trustee and the Securities Administrator shall comply with any
      directions of the Depositor, the Servicer or the Master Servicer to assure
      such
      continuing treatment. In particular, the Trustee, the Securities Administrator
      and the Master Servicer 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.

    
      
        
        

      

      
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    SECTION
      3.03. Monitoring of Servicer.

     

    (a) The
      Master Servicer shall be responsible for reporting to the Trustee (on behalf
      of
      the Trust Fund) and the Depositor the compliance by the Servicer with its duties
      under the Servicing Agreement. In the review of the Servicer’s activities, the
      Master Servicer may rely upon an officer’s certificate of the Servicer with
      regard to the Servicer’s compliance with the terms of the Servicing Agreement.
      In the event that the Master Servicer, in its judgment, determines that the
      Servicer should be terminated in accordance with the Servicing Agreement, or
      that a notice should be sent pursuant to the Servicing Agreement with respect
      to
      the occurrence of an event that, unless cured, would constitute grounds for
      such
      termination, the Master Servicer shall notify the Depositor, the Certificate
      Insurer and the Trustee thereof, and the Master Servicer shall issue such notice
      or take such other action as it deems appropriate with Section 3.03(b)
      below.

     

    (b) The
      Master Servicer, for the benefit of the Trust Fund, any NIMS Insurer, the
      Certificate Insurer and the Certificateholders, shall (acting as agent of the
      Trust Fund when enforcing the Trust Fund’s rights under the Servicing Agreement)
      (i) enforce the obligations of the Servicer under the Servicing Agreement,
      and
      (ii) in the event that the Servicer fails to perform its obligations in
      accordance with the Servicing Agreement, subject to the preceding paragraph,
      terminate the rights and obligations of such Servicer thereunder and act as
      servicer of the related Mortgage Loans or enter into a new Servicing Agreement
      with a successor Servicer selected by the Master Servicer which the Master
      Servicer shall cause the Trustee to acknowledge; provided,
      however,
      it is
      understood and acknowledged by the parties hereto that there will be a period
      of
      transition (not to exceed 90 days) before the actual servicing functions can
      be
      fully transferred to such successor Servicer. Such enforcement, including,
      without limitation, the legal prosecution of claims, termination of Servicing
      Agreements and the pursuit of other appropriate remedies, shall be in such
      form
      and carried out to such an extent and at such time as the Master Servicer,
      in
      its good faith business judgment, would require were it the owner of the related
      Mortgage Loans. The Master Servicer shall pay the costs of such enforcement
      at
      its own expense except as provided below, provided that the Master Servicer
      shall not be required to prosecute or defend any legal action except to the
      extent that the Master Servicer shall have received reasonable indemnity for
      its
      costs and expenses in pursuing such action from the Trust Fund.

     

    (c) To
      the
      extent that the costs and expenses of the Master Servicer related to any
      termination of the Servicer, appointment of a successor Servicer or the transfer
      and assumption of servicing by the Master Servicer or a successor Servicer
      with
      respect to the Servicing Agreement (including, without limitation, (i) all
      reasonable legal costs and expenses and all due diligence costs and expenses
      associated with an evaluation of the potential termination of the Servicer
      as a
      result of an event of default by such Servicer and (ii) all reasonable costs
      and
      expenses associated with the complete transfer of servicing, including all
      servicing files and all servicing data and the completion, correction or
      manipulation of such servicing data as may be required by the successor servicer
      to correct any errors or insufficiencies in the servicing data or otherwise
      to
      enable the successor servicer to service the Mortgage Loans in accordance with
      the Servicing Agreement) are not fully and timely reimbursed by the terminated
      Servicer, the Master Servicer shall be entitled to reimbursement of such
      reasonable costs and expenses from the Distribution Account.

    
      
        
        

      

      
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    (d) The
      Master Servicer shall require the Servicer to comply with the remittance
      requirements and other obligations set forth in the Servicing
      Agreement.

     

    (e) If
      the
      Master Servicer acts as Servicer, it will not assume liability for the
      representations and warranties of the predecessor Servicer, if any, that it
      replaces or for any errors, acts or omissions of such predecessor Servicer
      occurring prior to the termination of such Servicer; provided,
      however,
      the
      Master Servicer shall not be relieved of its liability, if any, as Master
      Servicer under this Section 3.03(e).

     

    SECTION
      3.04. Fidelity Bond.

     

    (a) The
      Master Servicer, at its expense, shall maintain in effect a blanket fidelity
      bond and an errors and omissions insurance policy, affording coverage with
      respect to all directors, officers, employees and other Persons acting on such
      Master Servicer’s behalf, and covering errors and omissions in the performance
      of the Master Servicer’s obligations hereunder. The errors and omissions
      insurance policy and the fidelity bond shall be in such form and amount
      generally acceptable for entities serving as master servicers or
      trustees.
      The
      Master Servicer shall provide the Trustee, the Certificate Insurer and any
      NIMS
      Insurer a copy of such policy and fidelity bond upon request.

     

    (b) The
      Master Servicer shall promptly report to the Trustee, the Certificate Insurer
      and any NIMS Insurer any material changes that may occur in the Master Servicer
      fidelity bond or the Master Servicer errors and omissions insurance policy
      and
      shall furnish to the Trustee and any NIMS Insurer, on request, certificates
      evidencing that such bond and insurance policy are in full force and effect.
      The
      Master Servicer shall promptly report to the Trustee, the Certificate Insurer
      and any NIMS Insurer all cases of embezzlement or fraud, if such events involve
      funds relating to the Mortgage Loans. The total losses relating to the Mortgage
      Loans, regardless of whether claims are filed with the applicable insurer or
      surety, shall be disclosed in such reports together with the amount of such
      losses covered by insurance. If a bond or insurance claim report relating to
      the
      Mortgage Loans is filed with any of such bonding companies or insurers, the
      Master Servicer shall promptly furnish a copy of such report to the Trustee,
      the
      Certificate Insurer and any NIMS Insurer. Any amounts relating to the Mortgage
      Loans collected by the Master Servicer under any such bond or policy shall
      be
      promptly remitted by the Master Servicer to the Securities Administrator for
      deposit into the Distribution Account. Any amounts relating to the Mortgage
      Loans collected by the applicable Servicer under any such bond or policy shall
      be remitted to the Master Servicer to the extent provided in the applicable
      Servicing Agreement

     

    SECTION
      3.05. Power to Act; Procedures.

     

    The
      Master Servicer shall master service the Mortgage Loans and shall have full
      power and authority, subject to the REMIC Provisions and the provisions of
      Article X hereof, to do any and all things that it may deem necessary or
      desirable in connection with the master servicing and administration of the
      Mortgage Loans, including but not limited to the power and authority (i) to
      execute and deliver, on behalf of the Certificateholders, the Trust Fund and
      the
      Trustee, customary consents or waivers and other instruments and documents,
      (ii)
      to consent to transfers of any Mortgaged Property and assumptions of the
      Mortgage Notes and related Mortgages, (iii) to collect any Insurance Proceeds,
      Liquidation Proceeds and Recoveries and (iv) to effectuate, in its own name,
      on
      behalf the Trust Fund, or in the name of the Trust Fund, foreclosure or other
      conversion of the ownership of the Mortgaged Property securing any Mortgage
      Loan, in each case, in accordance with the provisions of this Agreement and
      the
      Servicing Agreement, as applicable; provided,
      however,
      that
      the Master Servicer shall not (and, consistent with its responsibilities under
      Section 3.03, shall not permit the Servicer to) knowingly or intentionally
      take
      any action, or fail to take (or fail to cause to be taken) any action reasonably
      within its control and the scope of duties more specifically set forth herein,
      that, under the REMIC Provisions, if taken or not taken, as the case may be,
      would result in an Adverse REMIC Event unless the Master Servicer has received
      an Opinion of Counsel (but not at the expense of the Master Servicer) to the
      effect that the contemplated action will not result in an Adverse REMIC Event.
      The Trustee shall furnish the Master Servicer, upon written request from a
      Servicing Officer, with any limited powers of attorney empowering the Master
      Servicer or the Servicer to execute and deliver instruments of satisfaction
      or
      cancellation, or of partial or full release or discharge, and to foreclose
      upon
      or otherwise liquidate Mortgaged Property, and to appeal, prosecute or defend
      in
      any court action relating to the Mortgage Loans or the Mortgaged Property,
      in
      accordance with the Servicing Agreement and this Agreement, and the Trustee
      shall execute and deliver such other documents, as the Master Servicer may
      request, to enable the Master Servicer to master service and administer the
      Mortgage Loans and carry out its duties hereunder, in each case in accordance
      with Accepted Master Servicing Practices (and the Trustee shall have no
      liability for misuse of any such powers of attorney by the Master Servicer
      or
      the Servicer). In instituting foreclosures or similar proceedings, the Master
      Servicer shall institute such proceedings either in its own name on behalf
      of
      the Trust Fund or in the name of the Trust Fund (or cause the Servicer, pursuant
      to the Servicing Agreement, to institute such proceedings either in the name
      of
      the Servicer on behalf of the Trust, or in the name of the Trust Fund), unless
      otherwise required by law or otherwise appropriate. If the Master Servicer
      or
      the Trustee has been advised that it is likely that the laws of the state in
      which action is to be taken prohibit such action if taken in the name of the
      Trust Fund or the Trustee on its behalf or that the Trust Fund or the Trustee,
      as applicable, would be adversely affected under the “doing business” or tax
      laws of such state if such action is taken in its name, the Master Servicer
      shall join with the Trustee, on behalf of the Trust Fund, in the appointment
      of
      a co-trustee pursuant to Section 8.10 hereof. In the performance of its duties
      hereunder, the Master Servicer shall be an independent contractor and shall
      not,
      except in those instances where it is taking action in the name of the Trustee,
      be deemed to be the agent of the Trustee on behalf of the Trust
      Fund.

    
      
        
        

      

      
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    SECTION
      3.06. Due-on-Sale Clauses; Assumption Agreements.

     

    To
      the
      extent provided in the Servicing Agreement and to the extent Mortgage Loans
      contain enforceable due-on-sale clauses, the Master Servicer shall cause the
      Servicer to enforce such clauses in accordance with the Servicing Agreement.
      If
      applicable law prohibits the enforcement of a due-on-sale clause or such clause
      is otherwise not enforced in accordance with the Servicing Agreement, and,
      as a
      consequence, a Mortgage Loan is assumed, the original Mortgagor may be released
      from liability in accordance with the Servicing Agreement.

    
      
        
        

      

      
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    SECTION
      3.07. 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
      and
      the Trustee (and the Custodian, if applicable) 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
      or
      the Master 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
      or
      the Master 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 or the Master Servicer, as applicable.
      Such trust receipt shall obligate the Servicer or the Master Servicer to return
      the Mortgage File to the Trustee (or the Custodian on behalf of the Trustee)
      when the need therefor by the Servicer or the Master 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 or the Master Servicer.

    
      
        
        

      

      
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    SECTION
      3.08. Documents, Records and Funds in Possession of Master Servicer to be
      Held for Trust Fund.

     

    (a) The
      Master Servicer shall transmit and the Servicer (to the extent required by
      the
      Servicing Agreement) shall transmit to the Trustee (or Custodian) such documents
      and instruments coming into the possession of the Master Servicer or the
      Servicer from time to time as are required by the terms hereof, or in the case
      of the Servicer, the Servicing Agreement, to be delivered to the Trustee (or
      Custodian). Any funds received by the Master Servicer or by the Servicer in
      respect of any Mortgage Loan or which otherwise are collected by the Master
      Servicer or by the Servicer as Liquidation Proceeds, Insurance Proceeds or
      Recoveries in respect of any Mortgage Loan shall be held for the benefit of
      the
      Trust Fund and the Certificateholders subject to the Master Servicer’s right to
      retain or withdraw from the Distribution Account the Master Servicing Fee,
      any
      additional compensation pursuant to Section 3.14 and any other amounts provided
      in this Agreement, and to the right of the Servicer to retain its Servicing
      Fee
      and any other amounts as provided in the Servicing Agreement. The Master
      Servicer shall, and (to the extent provided in the Servicing Agreement) shall
      cause the Servicer to, provide access to information and documentation regarding
      the Mortgage Loans to the Trustee, any NIMS Insurer, the Certificate Insurer,
      their respective agents and accountants at any time upon reasonable request
      and
      during normal business hours, and to Certificateholders that are savings and
      loan associations, banks or insurance companies, the Office of Thrift
      Supervision, the FDIC and the supervisory agents and examiners of such Office
      and Corporation or examiners of any other federal or state banking or insurance
      regulatory authority if so required by applicable regulations of the Office
      of
      Thrift Supervision or other regulatory authority, such access to be afforded
      without charge but only upon reasonable request in writing and during normal
      business hours at the offices of the Master Servicer designated by it. In
      fulfilling such a request the Master Servicer shall not be responsible for
      determining the sufficiency of such information.

     

    (b) All
      Mortgage Files and funds collected or held by, or under the control of, the
      Master Servicer, in respect of any Mortgage Loans, whether from the collection
      of principal and interest payments or from Liquidation Proceeds, Insurance
      Proceeds or Recoveries, shall be held by the Master Servicer for and on behalf
      of the Trust Fund and the Certificateholders and shall be and remain the sole
      and exclusive property of the Trust Fund; provided,
      however,
      that
      the Master Servicer and the Servicer shall be entitled to setoff against, and
      deduct from, any such funds any amounts that are properly due and payable to
      the
      Master Servicer or the Servicer under this Agreement or the Servicing
      Agreement.

     

    SECTION
      3.09. Standard Hazard Insurance and Flood Insurance
      Policies.

     

    (a) For
      each
      Mortgage Loan (other than a Cooperative Loan), the Master Servicer shall enforce
      any obligation of the Servicer under the Servicing Agreements to maintain or
      cause to be maintained standard fire and casualty insurance and, where
      applicable, flood insurance, all in accordance with the provisions of the
      Servicing Agreement. It is understood and agreed that such insurance shall
      be
      with insurers meeting the eligibility requirements set forth in the Servicing
      Agreement and that no earthquake or other additional insurance is to be required
      of any Mortgagor or to be maintained on property acquired in respect of a
      defaulted loan, other than pursuant to such applicable laws and regulations
      as
      shall at any time be in force and as shall require such additional
      insurance.

    
      
        
        

      

      
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    (b) Pursuant
      to Sections 4.01 and 4.02, any amounts collected by the Servicer or the Master
      Servicer under any insurance policies (other than amounts to be applied to
      the
      restoration or repair of the property subject to the related Mortgage or
      released to the Mortgagor in accordance with the Servicing Agreement) shall
      be
      deposited into the Distribution Account, subject to withdrawal pursuant to
      Sections 4.02 and 4.03. Any cost incurred by the Master Servicer or the Servicer
      in maintaining any such insurance if the Mortgagor defaults in its obligation
      to
      do so shall be added to the amount owing under the Mortgage Loan where the
      terms
      of the Mortgage Loan so permit; provided,
      however,
      that
      the addition of any such cost shall not be taken into account for purposes
      of
      calculating the distributions to be made to Certificateholders and shall be
      recoverable by the Master Servicer or the Servicer pursuant to Sections 4.02
      and
      4.03.

     

    SECTION
      3.10. Presentment of Claims and Collection of Proceeds.

     

    The
      Master Servicer shall (to the extent provided in the Servicing Agreement) cause
      the Servicer to, prepare and present on behalf of the Trustee, the Trust Fund
      and the Certificateholders all claims under the insurance policies and take
      such
      actions (including the negotiation, settlement, compromise or enforcement of
      the
      insured’s claim) as shall be necessary to realize recovery under such policies.
      Any proceeds disbursed to the Master Servicer (or disbursed to the Servicer
      and
      remitted to the Master Servicer) in respect of such policies, bonds or contracts
      shall be promptly deposited in the Distribution Account upon receipt, except
      that any amounts realized that are to be applied to the repair or restoration
      of
      the related Mortgaged Property as a condition precedent to the presentation
      of
      claims on the related Mortgage Loan to the insurer under any applicable
      Insurance Policy need not be so deposited (or remitted).

     

    SECTION
      3.11. Maintenance of the Primary Insurance Policies.

     

    (a) The
      Master Servicer shall not take, or authorize the Servicer (to the extent such
      action is prohibited under the Servicing Agreement) to take, any action that
      would result in noncoverage under any applicable Primary Insurance Policy of
      any
      loss which, but for the actions of the Master Servicer or Servicer, would have
      been covered thereunder. The Master Servicer shall use its best reasonable
      efforts to cause the Servicer (to the extent required under the Servicing
      Agreement) to keep in force and effect (to the extent that the Mortgage Loan
      requires the Mortgagor to maintain such insurance), primary mortgage insurance
      applicable to each Mortgage Loan (including any lender-paid Primary Insurance
      Policy) in accordance with the provisions of this Agreement and the Servicing
      Agreement, as applicable. The Master Servicer shall not, and shall not permit
      the Servicer (to the extent required under the Servicing Agreement) to, cancel
      or refuse to renew any such Primary Insurance Policy that is in effect at the
      date of the initial issuance of the Mortgage Note and is required to be kept
      in
      force hereunder except in accordance with the provisions of this Agreement
      and
      the Servicing Agreement, as applicable.

     

    (b) The
      Master Servicer agrees to cause the Servicer (to the extent required under
      the
      Servicing Agreement) to present, on behalf of the Trustee, the Trust Fund and
      the Certificateholders, claims to the insurer under any Primary Insurance
      Policies and, in this regard, to take such reasonable action as shall be
      necessary to permit recovery under any Primary Insurance Policies respecting
      defaulted Mortgage Loans. Pursuant to Sections 4.01 and 4.02, any amounts
      collected by the Servicer under any Primary Insurance Policies shall be remitted
      to the Securities Administrator for deposit in the Distribution Account, subject
      to withdrawal pursuant to Section 4.03.

    
      
        
        

      

      
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    SECTION
      3.12. Trustee to Retain Possession of Certain Insurance Policies and
      Documents.

     

    The
      Trustee (or the Custodian, as directed by the Trustee), shall retain possession
      and custody of the originals (to the extent available) of any Primary Insurance
      Policies, or certificate of insurance if applicable and available, and any
      certificates of renewal as to the foregoing as may be issued from time to time
      as contemplated by this Agreement and which come into its possession. Until
      all
      amounts distributable in respect of the Certificates have been distributed
      in
      full and the Master Servicer otherwise has fulfilled its obligations under
      this
      Agreement, the Trustee (or its Custodian, if any, as directed by the Trustee)
      shall also retain possession and custody of each Mortgage File in accordance
      with and subject to the terms and conditions of this Agreement. The Master
      Servicer shall promptly deliver or cause to be delivered to the Trustee (or
      the
      Custodian, as directed by the Trustee), upon the execution or receipt thereof
      the originals of any Primary Insurance Policies, any certificates of renewal,
      and such other documents or instruments that constitute portions of the Mortgage
      File that come into the possession of the Master Servicer from time to
      time.

     

    SECTION
      3.13. Realization Upon Defaulted Mortgage Loans.

     

    The
      Master Servicer shall cause the Servicer (to the extent required under the
      related Servicing Agreement) to foreclose upon, repossess or otherwise
      comparably convert the ownership of Mortgaged Properties securing such of the
      Mortgage Loans as come into and continue in default and as to which no
      satisfactory arrangements can be made for collection of delinquent payments,
      all
      in accordance with the applicable Servicing Agreement.

     

    SECTION
      3.14. Additional Compensation to the Master Servicer. 

     

    The
      Master Servicer shall be entitled to receive the Master Servicing Fee and,
      pursuant to Section 4.02(c), certain income and gain realized from any
      investment of funds in the Distribution Account shall be for the benefit of
      the
      Master Servicer as additional compensation. Servicing compensation in the form
      of assumption fees, if any, late payment charges, as collected, if any, or
      otherwise (but, unless otherwise specifically permitted in the Servicing
      Agreement, not including any Prepayment Penalty Amounts) shall be retained
      by
      the Servicer, or the Master Servicer, and shall not be deposited in the
      Servicing Account or the Distribution Account. The
      Master Servicer shall be required to pay all expenses incurred by it in
      connection with its activities hereunder and shall not be entitled to
      reimbursement therefor except as provided in this Agreement. The amount of
      the
      aggregate compensation payable as set forth in this Section 3.14 plus the Master
      Servicing Fee due to the Master Servicer in respect of any Distribution Date
      shall be reduced in accordance with Section 5.06.

    
      
        
        

      

      
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    SECTION
      3.15. REO Property.

     

    (a) In
      the
      event the Trust Fund (or the Trustee on its behalf) acquires ownership of any
      REO Property in respect of any related Mortgage Loan, the deed or certificate
      of
      sale shall be issued to the Trust Fund, or if required under applicable law,
      to
      the Trustee, or to its nominee, on behalf of the Trust Fund. The Master Servicer
      shall, to the extent provided in the Servicing Agreement, cause the Servicer
      to
      sell, any REO Property as expeditiously as possible (and in no event later
      than
      three years after acquisition) and in accordance with the provisions of this
      Agreement and the Servicing Agreement, as applicable. Pursuant to its efforts
      to
      sell such REO Property, the Master Servicer shall cause the Servicer to protect
      and conserve such REO Property in the manner and to the extent required by
      the
      Servicing Agreement, in accordance with the REMIC Provisions and in a manner
      that does not result in a tax on “net income from foreclosure property” or cause
      such REO Property to fail to qualify as “foreclosure property” within the
      meaning of Section 860G(a)(8) of the Code.

     

    (b) The
      Master Servicer shall, to the extent required by the Servicing Agreement, cause
      the Servicer to deposit all funds collected and received in connection with
      the
      operation of any REO Property in the Servicing Account.

     

    (c) The
      Master Servicer and the Servicer, upon the final disposition of any REO
      Property, shall be entitled to reimbursement for any related unreimbursed
      Advances and other unreimbursed advances as well as any unpaid Servicing Fees
      from Liquidation Proceeds received in connection with the final disposition
      of
      such REO Property; provided,
      that
      any such unreimbursed Advances as well as any unpaid Servicing Fees may be
      reimbursed or paid, as the case may be, prior to final disposition, out of
      any
      net rental income or other net amounts derived from such REO
      Property.

     

    (d) To
      the
      extent provided in the Servicing Agreement, the Liquidation Proceeds from the
      final disposition of the REO Property, net of any payment to the Master Servicer
      and the Servicer as provided above shall be deposited in the Servicing Account
      on or prior to the applicable Determination Date in the month following receipt
      thereof and be remitted by wire transfer in immediately available funds to
      the
      Master Servicer for deposit into the Distribution Account on the next succeeding
      Servicer Remittance Date.

     

    SECTION
      3.16. 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 Master Servicer, the Securities Administrator and the Trustee, in its
      capacity as Custodian (to the extent it is also acting as 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 Securities Administrator and the Depositor (provided
      that the Master Servicer shall furnish copies of each such report received
      by it
      from the Servicer to the Depositor), a report on an 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 3.19(b) and
      for each fiscal year thereafter, whether or not a Form 10-K is required to
      be
      filed, 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.
      

    
      
        
        

      

      
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    (ii) No
      later
      than the end of each fiscal year for the Trust Fund for which a 10-K is required
      to be filed, the Master Servicer and the Trustee, in its capacity as Custodian,
      shall each forward to the Securities Administrator and 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 (provided,
      however,
      that
      the Master Servicer need not provide such information to the Securities
      Administrator so long as the Master Servicer and Securities Administrator are
      the same Person). When the Master Servicer, the Trustee, in its capacity as
      Custodian, and the Securities Administrator (or any Servicing Function
      Participant engaged by them) submit their assessments to the Securities
      Administrator, such parties will also at such time include the assessment (and
      attestation pursuant to subsection (b) of this Section 3.16) of each Servicing
      Function Participant engaged by it.

    

    (iii) Promptly
      after receipt of each such report on assessment of compliance, (i) the Depositor
      shall review each such report and, if applicable, consult with the Master
      Servicer, the Securities Administrator, the Trustee, in its capacity as
      Custodian, and any Servicing Function Participant engaged by such parties as
      to
      the nature of any material instance of noncompliance with the Relevant Servicing
      Criteria by each such party, and (ii) the Securities Administrator shall confirm
      that the assessments, taken as a whole, address all of the Servicing Criteria
      and taken individually address the Relevant Servicing Criteria for each party
      as
      set forth on Exhibit R and on any similar exhibit set forth in each Servicing
      Agreement in respect of the Servicer and notify the Depositor of any
      exceptions.

    

    (iv) The
      Master Servicer 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 Securities Administrator
      pursuant to this Section.

    

    (v) In
      the
      event the Master Servicer, the Securities Administrator, the Trustee, in its
      capacity as Custodian, or any Servicing Function Participant engaged by such
      party is terminated, assigns its rights and obligations under or resigns
      pursuant to the terms of this Agreement, or any other applicable agreement,
      as
      the case may be, such party shall provide a report on assessment of compliance
      pursuant to this Section 3.16(a) or to such other applicable agreement,
      notwithstanding any such termination, assignment or
      resignation.

    
      
        
        

      

      
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    (b) Attestation
      Reports.

     

    (i) By
      March
      10 (with a 5 calendar day cure period) of each year, commencing in March 2007,
      the Master Servicer, the Securities Administrator, the Trustee, in its capacity
      as Custodian, each at its own expense, shall cause, and each such party shall
      cause any Servicing Function Participant engaged by it to cause, each at its
      own
      expense, a registered public accounting firm (which may also render other
      services to the Master Servicer, the Trustee, in its capacity as Custodian,
      the
      Securities Administrator, 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 Securities Administrator and the
      Depositor, to the effect that (i) it has obtained a representation regarding
      certain matters 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
      Securities Administrator shall confirm that each assessment submitted pursuant
      to subsection (a) of this Section 3.16 is coupled with an attestation meeting
      the requirements of this Section and notify the Depositor of any
      exceptions.

    

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

    

    (iv) In
      the
      event the Master Servicer, the Securities Administrator, the Trustee, in its
      capacity as Custodian, the Servicer or any Servicing Function Participant
      engaged by such party is terminated, assigns its rights and duties under or
      resigns pursuant to the terms of this Agreement, or any applicable custodial
      agreement, servicing agreement or subservicing agreement, as the case may be,
      such party shall cause a registered public accounting firm to provide an
      attestation pursuant to this Section 3.16(b) notwithstanding any such
      termination, assignment or resignation.

    

    (v) The
      Trustee’s and the Custodian’s obligation to provide assessments of compliance
      and attestations under this Section 3.16 shall terminate upon the filing of
      a
      Form 15 suspension notice on behalf of the Trust Fund. Notwithstanding the
      foregoing, after the occurrence of such event, and provided that the Depositor
      is not otherwise provided with such reports or copies of such reports, the
      Master Servicer and the Securities Administrator shall be obligated to provide
      a
      copy of such reports, by March 31 of each year, to the
      Depositor.

    
      
        
        

      

      
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    SECTION
      3.17. Annual Compliance Statement.

     

    The
      Master Servicer and the Securities Administrator shall deliver (and the Master
      Servicer and Securities Administrator shall cause any Servicing Function
      Participant engaged by it to deliver) to the Depositor and the Securities
      Administrator on or before March 10 (with a 5 calendar day cure period) of
      each
      year, commencing in March 2007, an Officer’s Certificate stating, as to the
      signer thereof, that (A) a review of such party’s activities during the
      preceding calendar year or portion thereof and of such party’s performance under
      this Agreement, or such other applicable agreement in the case of a Servicing
      Function Participant, has been made under such officer’s supervision and (B) to
      the best of such officer’s knowledge, based on such review, such party has
      fulfilled all its obligations under this Agreement, or such other applicable
      agreement in the case of a Servicing Function Participant, in all material
      respects throughout such year or portion thereof, or, if there has been a
      failure to fulfill any such obligation in any material respect, specifying
      each
      such failure known to such officer and the nature and status
      thereof.

     

    The
      Master Servicer shall include all annual statements of compliance received
      by it
      from the Servicer with its own annual statement of compliance to be submitted
      to
      the Securities Administrator pursuant to this Section.

     

    In
      the
      event the Master Servicer, the Securities Administrator or any Servicing
      Function Participant engaged by parties is terminated or resigns pursuant to
      the
      terms of this Agreement, or any applicable agreement in the case of a Servicing
      Function Participant, as the case may be, such party shall provide an Officer’s
      Certificate pursuant to this Section 3.17 with respect to the period of time
      it
      was subject to this Agreement or any other applicable agreement, as the case
      may
      be.

     

    SECTION
      3.18. 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 Securities Administrator
      and
      the Master 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”)
      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 Master Servicer in charge of the master
      servicing function shall serve as the Certifying Person on behalf of the Trust.
      Such officer of the Certifying Person can be contacted by e-mail at
      cts.sec.notifications@wellsfargo.com or by facsimile at 410-715-2380. 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 3.18
      with respect to the period of time it was subject to this Agreement or any
      applicable subservicing agreement, as the case may be. Notwithstanding the
      foregoing, (i) the Master Servicer and the Securities Administrator shall not
      be
      required to deliver a Back-Up Certification to each other if both are the same
      Person and the Master Servicer is the Certifying Person and (ii) the Master
      Servicer shall not be obligated to sign the Sarbanes-Oxley Certification in
      the
      event that it does not receive any Back-Up Certification required to be
      furnished to it pursuant to this section or the Servicing
      Agreement.

    
      
        
        

      

      
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    SECTION
      3.19. Reports Filed with Securities and Exchange Commission.

     

    (a) Reports
      Filed on Form 10-D. 

     

    (i) Within
      15
      days after each Distribution Date (subject to permitted extensions under the
      Exchange Act), the Securities Administrator 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 Securities Administrator shall file each
      Form 10-D with a copy of the related Distribution Date Statement attached
      thereto. Any disclosure in addition to the Distribution Date Statement that
      is
      required to be included on Form 10-D (“Additional
      Form 10-D Disclosure”)
      shall
      be reported by the parties set forth on Exhibit O to the Securities
      Administrator and Depositor and directed and approved by the Depositor pursuant
      to the following paragraph and the Securities Administrator 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 S hereto, within 5 calendar days after the related Distribution
      Date, (i) the parties to the HarborView Mortgage Loan Trust 2006-7 transaction
      shall be required to provide to the Securities Administrator, 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
      Securities Administrator 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 Securities
      Administrator 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 Securities Administrator 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), the
      Depositor shall notify the Securities Administrator in writing of any changes
      to
      or approval of such Form 10-D. In the absence of receipt of any written changes
      or approval, the Securities Administrator shall be entitled to assume that
      such
      Form 10-D is in final form and the Securities Administrator may proceed with
      the
      execution and filing of Form 10-D. A duly authorized representative of the
      Master Servicer shall sign each 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 Securities
      Administrator will follow the procedures set forth in subsection (d)(ii) of
      this
      Section 3.19. Promptly (but no later than 1 Business Day) after filing with
      the
      Commission, the Securities Administrator will make available on its internet
      website a final executed copy of each Form 10-D filed by the Securities
      Administrator. Each party to this Agreement acknowledges that the performance
      by
      the Master Servicer and the Securities Administrator of their respective duties
      under this Section 3.19(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
      3.19(a). Neither the Master Servicer nor the Securities Administrator shall
      have
      any 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
      10-D, where such failure results from the Securities Administrator’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, 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 Securities Administrator 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
      Securities Administrator 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 Securities Administrator
      shall be entitled to rely on such representations in preparing, executing 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 Securities Administrator 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 Securities Administrator
      within the applicable time frames set forth in this Agreement, the Servicing
      Agreement and Custodial Agreement, (i) an annual compliance statement for the
      Servicer, the Master Servicer and the Securities Administrator and any Servicing
      Function Participant engaged by such parties (each, with the Custodian, a
“Reporting
      Servicer”)
      as
      described under Section 3.17 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 3.16(a), and (B) if any Reporting
      Servicer’s report on assessment of compliance with servicing criteria described
      under Section 3.16(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 3.16(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 3.16(b), and
      (B)
      if any registered public accounting firm attestation report described under
      Section 3.16(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 3.18; provided,
      however,
      that
      the Securities Administrator, 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 parties set forth on Exhibit O to the Depositor and
      Securities Administrator and directed and approved by the Depositor pursuant
      to
      the following paragraph and the Securities Administrator 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 S 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 2006-7 transaction shall be required to provide to the
      Securities Administrator 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 Securities Administrator 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 Securities
      Administrator 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 Securities Administrator 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,
      the
      Depositor shall notify the Securities Administrator in writing of any changes
      to
      or approval of such Form 10-K. In the absence of receipt of any written changes
      or approval, the Securities Administrator shall be entitled to assume that
      such
      Form 10-K is in final form and the Securities Administrator may proceed with
      the
      execution and filing of the Form 10-K. A senior officer of the Master Servicer
      in charge of the master servicing function shall sign each 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 Securities Administrator will follow the procedures set forth
      in
      subsection (d) of this Section 3.19. Promptly (but no later than 1 Business
      Day)
      after filing with the Commission, the Securities Administrator will make
      available on its internet website a final executed copy of each Form 10-K filed
      by the Securities Administrator. The parties to this Agreement acknowledge
      that
      the performance by the Master Servicer and the Securities Administrator of
      its
      duties under this Section 3.19(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 3.19(b), Section 3.18, Section
      3.17, Section 3.16(a) and Section 3.16(b). Neither the Master Servicer nor
      the
      Securities Administrator 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
      Securities Administrator’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, 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 Securities Administrator 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
      Securities Administrator 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 Securities Administrator shall be entitled to rely on such
      representations in preparing, executing 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 Securities Administrator 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 parties set forth on Exhibit O to the Depositor and
      Securities Administrator and directed and approved by the Depositor pursuant
      to
      the following paragraph and the Securities Administrator 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.

    
      
        
        

      

      
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    (ii) As
      set
      forth on Exhibit T hereto, for so long as the Trust Fund is subject to the
      Exchange Act reporting requirements, no later than the close of business (New
      York City time) on the 2nd Business Day after the occurrence of a Reportable
      Event (i) the parties to the HarborView Mortgage Loan Trust 2006-7 transaction
      shall be required to provide to the Securities Administrator 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 Securities Administrator and
      such party, the form and substance of any Form 8-K Disclosure Information,
      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 Form 8-K Disclosure Information. The Seller will be
      responsible for any reasonable fees and expenses assessed or incurred by the
      Securities Administrator in connection with including any Form 8-K Disclosure
      Information in Form 8-K pursuant to this paragraph. 

    

    (iii) After
      preparing the Form 8-K, the Securities Administrator shall forward
      electronically a copy of the Form 8-K to the Depositor and McKee Nelson LLP.
      Promptly, but no later than the close of business on the third Business Day
      after the Reportable Event, the Depositor shall notify the Securities
      Administrator in writing of any change to or approval of such Form 8-K. In
      the
      absence of receipt of any written changes or approval, the Securities
      Administrator shall be entitled to assume that such Form 8-K is in final form
      and
      the
      Securities Administrator
      may
      proceed with the execution and filing of the Form 8-K. A duly authorized
      representative of the Master Servicer shall sign each 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 Securities Administrator will follow the procedures set forth in subsection
      (d) of this Section 3.19. Promptly (but no later than 1 Business Day) after
      filing with the Commission, the Securities Administrator will, make available on
      its internet website a final executed copy of each Form 8-K filed by the
      Securities Administrator. The parties to this Agreement acknowledge that the
      performance by the Master Servicer and the Securities Administrator of their
      respective duties under this Section 3.19(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 3.19(c). Neither the Securities Administrator nor the Master Servicer
      shall have any 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 Securities Administrator’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 Securities Administrator
      is
      able to do so under applicable law, the Securities Administrator 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.

    
      
        
        

      

      
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    (ii) In
      the
      event that the Securities Administrator 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 Securities Administrator 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 Securities Administrator will, 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
      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
      Form 8-K Disclosure Information or any amendment to such disclosure (other
      than
      for the purpose of restating any Distribution Date Statement), the Securities
      Administrator 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 or 10-D shall be signed by a duly
      authorized representative of the Master Servicer. Any Form 10-K amendment shall
      be signed by a senior officer of the Master Servicer in charge of the master
      servicing function. The parties to this Agreement acknowledge that the
      performance by the Master Servicer and the Securities Administrator of their
      respective duties under this Section 3.19(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. Neither the Master Servicer nor the Securities Administrator shall
      have
      any liability for any loss, expense, damage, claim arising out of or with
      respect to any failure to properly prepare, execute 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 Securities Administrator’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, not resulting from its
      own
      negligence, bad faith or willful misconduct.

    

    Any
      notice or notification required to be delivered by the Securities Administrator
      to the Depositor pursuant to this Section 3.19 may be delivered via facsimile
      to
      (203) 618-2596 or telephonically by calling (203) 422-4284, and any notice
      or notification required to be delivered by the Securities Administrator to
      McKee Nelson LLP pursuant to this Section 3.19, may be delivered via e-mail
      to
      RBSGC@mckeenelson.com.

     

    SECTION
      3.20. Additional Information.

     

    Each
      of
      the parties agrees to provide to the Securities Administrator such additional
      information related to such party as the Securities Administrator 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.

    
      
        
        

      

      
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    SECTION
      3.21. Intention
      of the Parties and Interpretation.

     

    Each
      of
      the parties acknowledges and agrees that the purpose of Section 3.16 through
      Section 3.22 of this Agreement is to facilitate compliance by the Securities
      Administrator 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 Securities Administrator
      or the Depositor for delivery of such additional or different information as
      the
      Securities Administrator or the Depositor may determine in good faith is
      necessary to comply with the provisions of Regulation AB, and (d) no amendment
      of this Agreement shall be required to effect any such changes in the parties’
obligations as are necessary to accommodate evolving interpretations of the
      provisions of Regulation AB.

     

    SECTION
      3.22. Indemnification. 

     

    Each
      party required to deliver an assessment of compliance and attestation report
      pursuant to Section 3.16 or any additional disclosure pursuant to Section 3.19
      and including the Depositor, the Master Servicer, the Securities Administrator,
      the Trustee and any Servicing Function Participant engaged by such party,
      respectively (each, an “Item
      1122 Responsible Party”),
      shall
      indemnify and hold harmless the Securities Administrator, the Master Servicer
      and the Depositor, respectively, and each of their directors, officers,
      employees, agents, and affiliates from and against any and all claims, losses,
      damages, penalties, fines, forfeitures, reasonable legal fees and related costs,
      judgments and other costs and expenses arising out of or based upon (a) any
      breach by such Item 1122 Responsible Party of any of its obligations hereunder
      relating to its obligations as an Item 1122 Responsible Party, including
      particularly its obligations to provide any assessment of compliance,
      attestation report or compliance statement required under Section 3.16(a),
      3.16(b) or 3.17, respectively, or any information, data or materials required
      to
      be included in any Exchange Act report, (b) any material misstatement or
      omission in (x) any compliance certificate delivered by it, or by any Servicing
      Function Participant engaged by it, pursuant to this Agreement, (y) any
      assessment or (except in the case of the Trustee, in its capacity as Custodian)
      attestation delivered by or on behalf of it, or by any Servicing Function
      Participant engaged by it, pursuant to this Agreement, or (z) any Additional
      Form 10-D Disclosure, Additional Form 10-K Disclosure or Form 8-K Disclosure
      Information concerning such party and provided by it, or (c) the negligence,
      bad
      faith or willful misconduct of such Item 1122 Responsible Party in connection
      with its performance hereunder relating to its obligations as an Item 1122
      Responsible Party. If the indemnification provided for herein is unavailable
      or
      insufficient to hold harmless the Master Servicer, the Securities Administrator,
      the Depositor or the Seller, as the case may be, then each Item 1122 Responsible
      Party agrees that it shall contribute to the amount paid or payable by the
      Securities Administrator, the Master Servicer and the Depositor, as applicable,
      as a result of any claims, losses, damages or liabilities incurred by the
      Securities Administrator, the Master Servicer or the Depositor in such
      proportion as is appropriate to reflect the relative fault of the Securities
      Administrator, the Master Servicer or the Depositor on the one hand and such
      Item 1122 Responsible Party on the other. This indemnification shall survive
      the
      termination of this Agreement or the termination of any party to this
      Agreement.

    
      
        
        

      

      
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    SECTION
      3.23. [Reserved].

     

    SECTION
      3.24. [Reserved].

     

    SECTION
      3.25. [Reserved].

     

    SECTION
      3.26. [Reserved].

     

    SECTION
      3.27. Closing Opinion of Counsel.

     

    On
      or
      before the Closing Date, the Master Servicer shall cause to be delivered to
      the
      Depositor, the Seller, the Trustee, the Certificate Insurer and Greenwich
      Capital Markets, Inc. an Opinion of Counsel, dated the Closing Date, in form
      and
      substance reasonably satisfactory to the Depositor, Greenwich Capital Markets,
      Inc., and the Seller as to the due authorization, execution and delivery of
      this
      Agreement by the Master Servicer and the enforceability thereof. 

     

    SECTION
      3.28. [Reserved].

     

    SECTION
      3.29. Merger or Consolidation of the Master Servicer.

     

    (a) The
      Master Servicer will keep in full force and effect its existence, rights and
      franchises as a national banking association under the laws of the jurisdiction
      of its incorporation, and will obtain and preserve its qualification to do
      business as a foreign corporation in each jurisdiction in which such
      qualification is or shall be necessary to protect the validity and
      enforceability of this Agreement, the Certificates or any of the Mortgage Loans
      and to perform its duties under this Agreement.

     

    (b) Any
      Person into which the Master Servicer may be merged or consolidated, or any
      corporation resulting from any merger or consolidation to which the Master
      Servicer shall be a party, or any Person succeeding to the business of the
      Master Servicer, shall be the successor of the Master Servicer hereunder,
      without the execution or filing of any paper or further act on the part of
      any
      of the parties hereto, anything herein to the contrary
      notwithstanding.

     

    SECTION
      3.30. Indemnification of the Trustee, the Master Servicer and the Securities
      Administrator.

     

    (a) In
      addition to any indemnity required pursuant to Section 3.22 hereof, the Master
      Servicer agrees to indemnify the Indemnified Persons for, and to hold them
      harmless against, any loss, liability or expense (except as otherwise provided
      herein with respect to expenses) (including reasonable legal fees and
      disbursements of counsel) incurred on their part that may be sustained in
      connection with, arising out of, or relating to this Agreement or the
      Certificates (i) related to the Master Servicer’s failure to perform its duties
      in compliance with this Agreement (except as any such loss, liability or expense
      shall be otherwise reimbursable pursuant to this Agreement) or (ii) incurred
      by
      reason of the Master Servicer’s willful misfeasance, bad faith or gross
      negligence in the performance of duties hereunder or by reason of reckless
      disregard of obligations and duties hereunder, provided, in each case, that
      with
      respect to any such claim or legal action (or pending or threatened claim or
      legal action), an Indemnified Person shall have given the Master Servicer,
      any
      NIMS Insurer and the Depositor written notice thereof promptly after such
      Indemnified Person shall have with respect to such claim or legal action
      knowledge thereof. The Indemnified Person’s failure to give such notice shall
      not affect the Indemnified Person’s right to indemnification hereunder. This
      indemnity shall survive the resignation or removal of the Trustee, the Master
      Servicer or the Securities Administrator and the termination of this
      Agreement.

    
      
        
        

      

      
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    (b) The
      Trust
      Fund will indemnify any Indemnified Person for any loss, liability or expense
      of
      any Indemnified Person not otherwise indemnified by the Master Servicer as
      referred to in Subsection (a) above or Subsection (c) below.

     

    (c) In
      addition to any indemnity required pursuant to Section 3.22 hereof, the
      Securities Administrator agrees to indemnify the Indemnified Persons (other
      than
      the Securities Administrator) for, and to hold them harmless against, any loss,
      liability or expense (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 Securities Administrator’s failure to file any Exchange Act report which the
      Securities Administrator is responsible for filing in accordance with Section
      3.19, (ii) by reason of the Securities Administrator’s negligence or willful
      misconduct in the performance of such obligations pursuant to Section 3.19
      or
      (iii) by reason of the Securities Administrator’s reckless disregard of such
      obligations pursuant to Section 3.19, provided, in each case, that with respect
      to any such claim or legal action (or pending or threatened claim or legal
      action), an Indemnified Person shall have given the Securities Administrator
      and
      the NIMS Insurer written notice thereof promptly after such Indemnified Person
      shall have with respect to such claim or legal action knowledge thereof. The
      Indemnified Person’s failure to give such notice shall not affect the
      Indemnified Person’s right to indemnification hereunder. This indemnity shall
      survive the resignation or removal of the Trustee, the Master Servicer or the
      Securities Administrator and the termination of this Agreement.

     

    SECTION
      3.31. Limitations on Liability of the Master Servicer and Others;
      Indemnification of Trustee and Others.

     

    Subject
      to the obligation of the Master Servicer to indemnify the Indemnified Persons
      pursuant to Section 3.30:

     

    (a) The
      Master Servicer has undertaken to perform only such duties as are specifically
      set forth in this Agreement. Neither the Master Servicer nor any of the
      directors, officers, employees or agents of the Master Servicer shall be under
      any liability to the Indemnified Persons, the Depositor, the Trust Fund or
      the
      Certificateholders for taking any action or for refraining from taking any
      action in good faith pursuant to this Agreement, or for errors in judgment;
      provided,
      however,
      that
      this provision shall not protect the Master Servicer or any such Person against
      any breach of warranties or representations made herein or any liability which
      would otherwise be imposed by reason of such Person’s willful misfeasance, bad
      faith or gross negligence in the performance of duties or by reason of reckless
      disregard of obligations and duties hereunder.

    
      
        
        

      

      
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    (b) The
      Master Servicer and any director, officer, employee or agent of the Master
      Servicer 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.

     

    (c) The
      Master Servicer, the Trustee (in its individual corporate capacity and as
      Trustee), the Custodian (including for such purpose, the Trustee acting in
      its
      capacity as Custodian) and any director, officer, employee or agent of the
      Master Servicer, the Trustee or the Custodian shall be indemnified by the Trust
      and held harmless thereby against any loss, liability or expense (except as
      otherwise provided herein with respect to expenses) (including reasonable legal
      fees and disbursements of counsel) incurred on their part that may be sustained
      in connection with, arising out of, or relating to, this Agreement, the
      Certificates or the Servicing Agreement or the transactions contemplated hereby
      or thereby (except, with respect to the Master Servicer, to the extent that
      the
      Master Servicer is indemnified by the Servicer thereunder), other than (i)
      with
      respect to the Master Servicer only, any such loss, liability or expense related
      to the Master Servicer’s failure to perform its duties in compliance with this
      Agreement or (ii) with respect to the Master Servicer or Custodian only, any
      such loss, liability or expense incurred by reason of the Master Servicer’s or
      the Custodian’s willful misfeasance, bad faith or gross negligence in the
      performance of its own duties hereunder or by reason of reckless disregard
      of
      its own obligations and duties hereunder or under a custodial
      agreement.

     

    (d) The
      Master Servicer shall not be under any obligation to appear in, prosecute or
      defend any legal action that is not incidental to its duties under this
      Agreement and that in its opinion may involve it in any expense or liability;
      provided,
      however,
      the
      Master Servicer may in its discretion, undertake any such action which it may
      deem necessary or desirable with respect to this Agreement and the rights and
      duties of the parties hereto and the interests of the Trust Fund and the
      Certificateholders hereunder. In such event, the legal expenses and costs of
      such action and any liability resulting therefrom shall be expenses, costs
      and
      liabilities of the Trust Fund, and the Master Servicer shall be entitled to
      be
      reimbursed therefor out of the Distribution Account as provided by Section
      4.03.
      Nothing in this Section 3.31 shall affect the Master Servicer’s obligation to
      supervise, or to take such actions as are necessary to enforce, the servicing
      and administration of the Mortgage Loans pursuant to Sections 3.01 and
      3.03.

     

    (e) In
      taking
      or recommending any course of action pursuant to this Agreement, unless
      specifically required to do so pursuant to this Agreement, the Master Servicer
      shall not be required to investigate or make recommendations concerning
      potential liabilities which the Trust Fund might incur as a result of such
      course of action by reason of the condition of the Mortgaged Properties but
      shall give notice to the Trustee if it has notice of such potential
      liabilities.

     

    (f) The
      Master Servicer shall not be liable for any acts or omissions of the Servicer,
      except as otherwise expressly provided herein.

    
      
        
        

      

      
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    SECTION
      3.32. Master Servicer Not to Resign. 

     

    Except
      as
      provided in Section 3.34, the Master Servicer shall not resign from the
      obligations and duties hereby imposed on it except upon a determination that
      any
      such duties hereunder are no longer permissible under applicable law and such
      impermissibility cannot be cured. Any such determination permitting the
      resignation of the Master Servicer shall be evidenced by an Independent Opinion
      of Counsel (delivered at the expense of the Master Servicer) to such effect
      delivered to the Trustee, the Certificate Insurer and any NIMS Insurer. No
      such
      resignation by the Master Servicer shall become effective until the Trustee
      or a
      successor to the Master Servicer reasonably satisfactory to the Trustee, the
      Certificate Insurer and any NIMS Insurer shall have assumed the responsibilities
      and obligations of the Master Servicer in accordance with Section 7.02 hereof.
      The Trustee shall notify each Rating Agency, the Certificate Insurer and any
      NIMS Insurer of the resignation of the Master Servicer.

     

    If,
      at
      any time, Wells Fargo Bank, N.A., as Master Servicer resigns under this Section
      3.28, or sells or assigns its rights and obligations under Section 3.30, or
      is
      removed as Master Servicer pursuant to Section 7.01, then at such time Wells
      Fargo Bank, N.A. also shall resign (and shall be entitled to resign) as
      Securities Administrator, Administrator, Paying Agent and Certificate Registrar
      under this Agreement. No such resignation by Wells Fargo Bank, N.A. as
      Securities Administrator, Administrator, Paying Agent or Certificate Registrar
      under this Agreement shall become effective until a successor Securities
      Administrator, successor Administrator, successor Paying Agent and successor
      Certificate Registrar reasonably satisfactory to the Depositor shall have
      assumed the responsibilities and obligations of the Securities Administrator,
      Administrator, Paying Agent and Certificate Registrar in accordance with this
      Agreement. The Securities Administrator shall notify each Rating Agency of
      the
      resignation of Wells Fargo Bank, N.A. as the Securities Administrator,
      Administrator, Paying Agent and Certificate Registrar. 

     

    SECTION
      3.33. Successor Master Servicer.

     

    In
      connection with the appointment of any successor master servicer or the
      assumption of the duties of the Master Servicer, the Trustee may make such
      arrangements for the compensation of such successor master servicer out of
      payments on the Mortgage Loans as the Trustee and such successor master servicer
      shall agree which in no case shall exceed the Master Servicing Fee. If the
      successor master servicer does not agree that the proposed compensation is
      fair,
      such successor master servicer shall obtain two quotations of market
      compensation from third parties actively engaged in the servicing of
      single-family mortgage loans;
      provided,
      however,
      that
      each Rating Agency shall confirm in writing that any appointment of a successor
      Master Servicer (other than the Trustee) will not result in a downgrade in
      the
      then current rating of any Class of Certificates.

     

    SECTION
      3.34. Sale and Assignment of Master Servicing.

     

    The
      Master Servicer may sell and assign its rights and delegate its duties and
      obligations in their entirety as Master Servicer under this Agreement, with
      the
      written consent of the Depositor, the Certificate Insurer and any NIMS Insurer,
      in each case, which consent shall not be unreasonably withheld or delayed,
      and
      provided further that: (i) the purchaser or transferee accepting such assignment
      and delegation (a) shall be a Person which shall be qualified to service
      mortgage loans for Fannie Mae or Freddie Mac; (b) shall have a net worth of
      not
      less than $10,000,000 (unless otherwise approved by each Rating Agency pursuant
      to clause (ii) below); (c) shall be reasonably satisfactory to the Depositor
      (as
      evidenced in writing signed by the Depositor); and (d) shall execute and deliver
      to the Trustee an agreement, in form and substance reasonably satisfactory
      to
      the Trustee, which contains an assumption by such Person of the due and punctual
      performance and observance of each covenant and condition to be performed or
      observed by it as master servicer under this Agreement, any custodial agreement
      from and after the effective date of such agreement; (ii) each Rating Agency
      shall be given prior written notice of the identity of the proposed successor
      to
      the Master Servicer and each Rating Agency’s ratings of the Certificates in
      effect immediately prior to such assignment, sale and delegation will not be
      downgraded, qualified or withdrawn as a result of such assignment, sale and
      delegation (determined in the case of the Insured Certificates, without giving
      effect to the Certificate Insurance Policy), as evidenced by a letter to such
      effect delivered to the Master Servicer and the Trustee; and (iii) the Master
      Servicer assigning and selling the master servicing shall deliver to the
      Trustee, the Certificate Insurer and the Depositor an Officer’s Certificate and
      an Independent Opinion of Counsel, (delivered at the Master Servicer’s expense)
      each stating that all conditions precedent to such action under this Agreement
      have been completed and such action is permitted by and complies with the terms
      of this Agreement. No such assignment or delegation shall affect any liability
      of the Master Servicer arising prior to the effective date
      thereof.

    
      
        
        

      

      
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    SECTION
      3.35. Reporting Requirements of the Commission.

     

    To
      the
      extent that, following the Closing Date, the content of Forms 8-K, 10-D, 10-K,
      15 or other Forms required by the Exchange Act and the Rules and Regulations
      of
      the Commission and the time by which such Forms are required to be filed,
      differs from the provisions of this Agreement, the Master Servicer and the
      Securities Administrator 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, neither the Master Servicer
      nor
      the Securities Administrator shall be obligated to enter into any amendment
      pursuant to this Section that adversely affects its obligations or immunities
      under this Agreement.

     

    SECTION
      3.36. Duties of the Credit Risk Manager.

     

    (a) The
      Certificateholders, by their purchase and acceptance of the Certificates,
      appoint Clayton Fixed Income Services Inc. as Credit Risk Manager. For and
      on
      behalf of the Depositor, the Credit Risk Manager will provide recommendations
      concerning certain delinquent and defaulted Mortgage Loans, and as to the
      collection of any Prepayment Penalty Amounts with respect to the Mortgage Loans.
      Such reports and recommendations will be based upon information provided
      pursuant to a Credit Risk Management Agreement to the Credit Risk Manager by
      the
      Servicer and/or the Master Servicer. The Credit Risk Manager shall look solely
      to the Servicer and/or the Master 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 neither the
      Securities Administrator nor the Trustee shall 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.

    
      
        
        

      

      
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    (b) If
      applicable, the Credit Risk Manager shall reasonably cooperate with the
      Depositor, the Trustee, any NIMS Insurer and the Securities Administrator in
      connection with the Trust Fund’s satisfying the reporting requirements under the
      1934 Act with respect to any reports which may be prepared by the Credit Risk
      Manager.

     

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

     

    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
      Securities Administrator, 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 and/or the
      Master Servicer under the applicable 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 Agreements. 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 and/or
      the Master Servicer pursuant to the applicable Credit Risk Management Agreement
      in the performance of its duties thereunder and hereunder.

     

    SECTION
      3.38. 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
      Master Servicer shall enforce the obligation of the Servicer to 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, 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) [Reserved];

     

    (c) 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 Securities Administrator for deposit into the Distribution
      Account amounts representing the following collections and payments (other
      than
      with respect to principal of or interest on the Mortgage Loans due on or before
      the Cut-off Date) with respect to each of the Mortgage Loans it is
      servicing:

     

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

     

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

     

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

     

    (iv) Prepayment
      Penalty Amounts, if any; and

     

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

     

    (d) Withdrawals
      may be made from a Servicing Account only to make remittances as provided in
      Section 4.01(c), 4.02 and 4.03; to reimburse the Master Servicer or 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 Sections
      4.01(c) and 4.02(b), certain amounts otherwise due to the Servicer may be
      retained by them and need not be remitted to the Securities
      Administrator.

    
      
        
        

      

      
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    SECTION
      4.02. Distribution Account. 

     

    (a) The
      Securities Administrator shall establish and maintain in the name of the
      Trustee, for the benefit of the Trust Fund and the Certificateholders, the
      Distribution Account as a segregated account or accounts, each of which shall
      be
      an Eligible Account. The Distribution Account shall constitute a trust account
      of the Trust Fund segregated on the books of the Securities Administrator and
      held by the Securities Administrator 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 Securities Administrator or the Master Servicer
      (whether made directly, or indirectly through a liquidator or receiver of the
      Trustee, the Securities Administrator or the Master Servicer). 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
      Securities Administrator, Trustee or their affiliates are permitted to receive
      additional compensation that could be deemed to be in the 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 Master Servicer and the Securities Administrator shall deposit in the
      Distribution Account as identified by the Master Servicer or the Securities
      Administrator and as received by the Master Servicer or the Securities
      Administrator, the following amounts:

     

    (i) any
      amounts withdrawn from a Servicing Account pursuant to Section 4.01(c) and
      the
      Servicing Agreement and remitted to the Securities Administrator;
      

     

    (ii) any
      amounts required to be deposited in the Distribution Account by the Master
      Servicer with respect to the Mortgage Loans pursuant to this Agreement,
      including (a) Advances and any Compensating Interest Payments required to be
      made by the Master Servicer to the extent required but not made by the Servicer
      and (b) the amount of any Insurance Proceeds or Liquidation Proceeds received
      by
      or on behalf of the Master Servicer which were not deposited in a Servicing
      Account;

     

    (iii) any
      Insurance Proceeds, Liquidation Proceeds or Recoveries received by or on behalf
      of the Master Servicer which were not deposited in a Servicing Account;

     

    (iv) 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;

    
      
        
        

      

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

     

    (vi) any
      other
      amounts received by or on behalf of the Master Servicer or the Securities
      Administrator and 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 Securities
      Administrator in the name of the Trustee in trust for the benefit of the Trust
      Fund and 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 (including
      all Prepayment Penalty Amounts) and (ii) the items enumerated in Subsections
      4.03(a)(i), (ii), (iii), (iv), (vi), (vii), (ix) and (x) with respect to the
      Securities Administrator, need not be remitted by the Servicer to the Master
      Servicer to the Distribution Account. In the event that the Master Servicer
      shall deposit or cause to be deposited to the Distribution Account any amount
      not required to be credited thereto, the Securities Administrator, upon receipt
      of a written request therefor signed by a Servicing Officer of the Master
      Servicer, shall promptly transfer such amount to the Master Servicer, any
      provision herein to the contrary notwithstanding.

     

    (c) The
      amount at any time credited to the Distribution Account shall, if invested,
      be
      invested at the direction of the Master Servicer, 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
      Master Servicer. 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 Master Servicer, 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
      Master Servicer, and the risk of loss of moneys resulting from such investments
      shall be borne by and be the risk of the Master Servicer. The Master Servicer
      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
      Securities Administrator shall, from time to time, withdraw or transfer funds
      from the Distribution Account to the Servicer, to the Master Servicer, to
      the Trustee, to the Administrator, to the Certificate Insurer or to itself
      for
      the following purposes:

     

    (i) to
      reimburse the Master Servicer or the Servicer for any Advance of its own funds
      or of the Servicer’s own funds, the right of the Master Servicer or 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 and Liquidation Proceeds) which
      represent late payments or recoveries of the principal of or interest on such
      Mortgage Loan respecting which such Advance was made;

    
      
        
        

      

      
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    (ii) to
      reimburse the Master Servicer or the Servicer from Insurance Proceeds or
      Liquidation Proceeds relating to a particular Mortgage Loan for amounts expended
      by the Master Servicer or 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 Master Servicer or 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 Master Servicer or the Servicer from
      Liquidation Proceeds from a particular Mortgage Loan for Liquidation Expenses
      incurred with respect to such Mortgage Loan; 

     

    (iv) to
      pay
      the Master Servicer or the Servicer, as appropriate, from Liquidation Proceeds
      or Insurance Proceeds received in connection with the liquidation of any
      Mortgage Loan, the amount which it or the Servicer would have been entitled
      to
      receive under subclause (viii) 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 Master Servicer or the Servicer from the Purchase Price for any Mortgage
      Loan, the amount which it or the Servicer would have been entitled to receive
      under subclause (viii) of this Subsection (a) as servicing
      compensation;

     

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

     

    (viii) to
      pay
      the Master Servicer its monthly Master Servicing Fee and any investment income
      and other additional servicing compensation payable pursuant to Section
      3.14;

     

    (ix) to
      reimburse the Master Servicer or the Securities Administrator for any expenses
      recoverable by the Master Servicer or the Securities Administrator pursuant
      to
      Sections 3.03 and 3.31;

    
      
        
        

      

      
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    (x) to
      pay
      the Bulk PMI Fee with respect to each Mortgage Loan covered under the Bulk
      PMI
      Policy;

     

    (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 and the Securities Administrator for expenses, costs
      and
      liabilities incurred by or reimbursable to it from funds of the Trust Fund
      pursuant to Sections 3.30, 3.31 or 8.05, and to reimburse the Trustee for any
      fees, costs and expenses costs incurred by or reimbursable to it pursuant to
      Section 2.03(a), 7.01(b), 8.02, 8.05 or 8.07, to the extent not otherwise
      reimbursed to it;

     

    (xiii) to
      pay to
      the Master Servicer all investment earnings on amounts on deposit in the
      Distribution Account to what it is entitled under Section 4.02(c);

     

    (xiv) to
      pay
      the Certificate Insurer its Aggregate Premium Amount;

     

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

     

    (xvi) to
      remove
      amounts deposited in error;

     

    (xvii) to
      reimburse the Administrator for expenses, costs and liabilities incurred by
      or
      reimbursable to it as a result of the performance of its duties under the Yield
      Maintenance Agreement and the Yield Maintenance Allocation Agreement;
      and

     

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

     

    (b) In
      addition, on or before the Business Day immediately preceding each Distribution
      Date, the Master Servicer shall deposit in the Distribution Account (or remit
      to
      the Securities Administrator for deposit therein) any Advances or Compensating
      Interest Payments, to the extent required to be made but not made by the
      Servicer and required to be made by the Master Servicer hereunder with respect
      to the Mortgage Loans.

     

    (c) The
      Securities Administrator or the Master Servicer 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 (vii), inclusive, (ix) 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 Master Servicer without being deposited
      in
      the Distribution Account under Section 4.02(b).

     

    (d) In
      order
      to comply with its duties under the USA PATRIOT Act of 2001, the Securities
      Administrator 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.

     

    (e) On
      each
      Distribution Date, the Securities Administrator, 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.

    
      
        
        

      

      
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    SECTION
      4.04. [Reserved].

     

    SECTION
      4.05. Certificate Insurance Policy.

     

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

     

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

     

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

     

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

     

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

    
      
        
        

      

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

     

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

     

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

    
      
        
        

      

      
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    (f) Upon
      its
      becoming aware of the occurrence of an Event of Default, the Securities
      Administrator shall promptly notify the Certificate Insurer of such Event of
      Default.

     

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

     

    (h) The
      Master Servicer shall designate a contact person for the Certificate Insurance
      Policy who shall be available to the Certificate Insurer to provide reasonable
      access to information regarding the Mortgage Loans. All inquiries shall be
      to
      the attention of Client Manager - HarborView 2006-7, at the address provided
      by
      the Master Servicer in Section 12.05.

     

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

     

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

    
      
        
        

      

      
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    ARTICLE
      V

     

    FLOW
      OF FUNDS

     

    SECTION
      5.01. Distributions.

     

    (a) (1)
      On
      each Distribution Date and after making any withdrawals from the Distribution
      Account pursuant to Section 4.03(a), the Securities Administrator, as Paying
      Agent, shall withdraw funds on deposit in the Distribution Account to the extent
      of Available Funds for each Loan Group for such Distribution Date and, based
      on
      the Distribution Date Statement, make the following disbursements and transfers
      as set forth below:

     

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

     

    (A) on
      the
      Distribution Date in August 2016 and on each Distribution Date until the earlier
      of (i) the Distribution Date in September 2026 and (ii) the termination of
      the
      Trust, for deposit in the Final Maturity Reserve Account, the Final Maturity
      Reserve Amount;

     

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

     

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

     

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

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

    (K) to
      the
      Credit Risk Manager, the Credit Risk Manager Fee; and

     

    (L) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(iv) below;

     

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

     

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

     

    (A) from
      the
      related Principal Distribution Amount for the related Loan Group, to the holders
      of the Class 1A, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, as
      the
      case may be, the Principal Distribution Amount, pro
      rata,
      based
      on their Certificate Principal Balances immediately prior to such Distribution
      Date, until their respective Certificate Principal Balances are reduced to
      zero;

    
      
        
        

      

      
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    (B) to
      the
      Certificate Insurer, any Certificate Insurer Reimbursement Amounts due to the
      Certificate Insurer;

     

    (C) from
      the
      Principal Distribution Amount for both Loan Groups

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (8) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(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 for each Loan Group will be
      distributed in the following amounts and order of priority:

     

    (A) concurrently,
      pro
      rata
      (a) to
      the holders of the Class 1A Certificates, the Group 1 Principal Distribution
      Amount based on the Class Principal Balance immediately prior to such
      Distribution Date, until the Class Principal Balance is reduced to zero, and
      (b)
      to the holders of the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates,
      the
      Group 2 Principal Distribution Amount pro
      rata
      based on
      their Class Principal Balances immediately prior to such Distribution Date,
      until their respective Class Principal Balances are reduced to
      zero;

     

    (B) to
      the
      Certificate Insurer any Certificate Insurer Reimbursement Amounts due to the
      Certificate Insurer; and

     

    (C) from
      the
      Principal Distribution Amount for both Loan Groups

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (8) for
      application as part of Net Monthly Excess Cashflow for such Distribution Date,
      as described under Section 5.01(a)(1)(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 any Extra Principal
      Distribution Amount, pro
      rata,
      to each
      such Class based on the Class Principal Balance of each such Certificate prior
      to such Distribution Date as a distribution in respect of
      principal;

     

    (B) to
      the
      Certificate Insurer, any unpaid remaining Certificate Insurer Reimbursement
      Amounts;

     

    (C) to
      the
      Holders of the Class B-1 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (D) to
      the
      Holders of the Class B-1 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (E) to
      the
      Holders of the Class B-2 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (F) to
      the
      Holders of the Class B-2 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

    
      
        
        

      

      
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    (G) to
      the
      Holders of the Class B-3 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (H) to
      the
      Holders of the Class B-3 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (I) to
      the
      Holders of the Class B-4 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (J) to
      the
      Holders of the Class B-4 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (K) to
      the
      Holders of the Class B-5 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (L) to
      the
      Holders of the Class B-5 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (M) to
      the
      Holders of the Class B-6 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates;

     

    (N) to
      the
      Holders of the Class B-6 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (O) to
      the
      Holders of the Class B-7 Certificates, in an amount equal to the Unpaid Interest
      Shortfall Amount allocable to such Certificates; 

     

    (P) to
      the
      Holders of the Class B-7 Certificates, in an amount equal to the Allocated
      Realized Loss Amount allocable to such Certificates;

     

    (Q) to
      the
      Basis Risk Reserve Fund, any Required Reserve Fund Deposit;

     

    (R) to
      the
      Holders of the Class C Certificates, the Class C Distributable
      Amount;

     

    (S) if
      on any
      Distribution Date after the Distribution Date in August 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 LIBOR certificates, in the amount and the priority
      set
      forth in Sections 5.01(a)(1)(ii) or (iii), as applicable;

     

    (T) on
      the
      Distribution Date immediately following the last Distribution Date on which
      Prepayment Penalty Amounts can be collected by the Servicer, to the Holders
      of
      the Class P Certificates, $100.00;

     

    (U) to
      the
      Holder of the Class R Certificate, any Available Funds, other than any portion
      thereof in respect of Premium Proceeds, then remaining; and

    
      
        
        

      

      
        106

        
          

        

      

       

    

     

    (V) on
      the
      final Distribution Date, to the Holder of the Class C Certificate the Premium
      Proceeds.

     

    (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)(1)(iv)(R) and 5.01(a)(iv)(U) above, and the portion of Available Funds
      remaining after the distribution pursuant to Sections 5.01(a)(1)(i),
      5.01(a)(1)(ii), 5.01(a)(1)(iii) and 5.01(a)(1)(iv) will be applied in the
      following order:

     

    (A) in
      the
      amounts and the priority set forth in Section 5.01(a)(1)(ii);

     

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

     

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

     

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

     

    (3) On
      each
      Distribution Date, the Securities Administrator, as Paying Agent, shall
      distribute to the Holder of the Class P Certificate all Prepayment Penalty
      Amounts in respect of the Mortgage Loans received by the Servicer and remitted
      to the Securities Administrator for the related Prepayment Period.

     

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

     

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

     

    (d) Notwithstanding
      the priorities and allocations set forth in Section 5.01(a) above, if on any
      Distribution Date on which the Senior Certificates related to a Loan Group
      constitute an Undercollateralized Group, all amounts otherwise distributable
      as
      Available Funds on the Subordinate Certificates, in reverse order of priority
      (or, following the Senior Credit Support Depletion Date, such other amounts
      described in the immediately following sentence), will be distributed as
      principal to the Senior Certificates of such Undercollateralized Group in the
      same order and priority and allocation provided in Section 5.01(a), first,
      up
      to the
      sum of the Accrued Interest Amount and the Principal Deficiency Amount for
      the
      Undercollateralized Group (such distribution, an “Undercollateralization
      Distribution”)
      and
second,
      to pay
      to the Subordinate Certificates and the Residual Certificates in the same order
      and priority as provided in Section 5.01(a)(1)(ii), (iii) and (iv). In the
      event
      that the Senior Certificates related to a Loan Group constitute an
      Undercollateralized Group on any Distribution Date following the Senior Credit
      Support Depletion Date, Undercollateralization Distributions will be made from
      any Available Funds from the Loan Group not related to an Undercollateralized
      Group remaining after all required amounts have been distributed to the related
      Class of Senior Certificates related to such other Loan Group.
      Undercollateralization Distributions will be applied first
      to pay
      accrued but unpaid interest, if any, and second
      to pay
      principal in the same priority and allocation provided in Section
      5.01(a).

    
      
        
        

      

      
        107

        
          

        

      

       

    

     

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

     

    (f) 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 Securities Administrator, the Depositor,
      the Master Servicer or the Seller shall have any responsibility
      therefor.

     

    (g) Distributions
      from Final Maturity Reserve Account.
      On the
      earlier of the Distribution Date in September 2026 and the termination of the
      Trust, the Securities Administrator shall distribute the funds on deposit in
      the
      Final Maturity Reserve Account on such date in the following order of
      priority:

     

    (i) 
      to
      the
      Class 1A, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro
      rata,
      after
      giving effect to principal distributions on such Distribution Date pursuant
      to
      Sections 5.01(a)(1)(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;

    
      
        
        

      

      
        108

        
          

        

      

       

    

     

    (ii)
      to
      the
      Certificate Insurer, any reimbursement amounts due to the Certificate
      Insurer;

     

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

     

    (iv)
      to
      the Class 1A-A1, Class 2A-1A, Class 2A-1B, Class 2A-1C, Class B-1, Class B-2,
      Class B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates, 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)(1)(i);
      and

     

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

     

    (h) Distributions
      from Yield Maintenance Account.
      On each
      Distribution Date beginning on the Distribution Date in September 2008 through
      and including the Distribution Date in August 2012, the Securities Administrator
      shall distribute the funds on deposit in the Yield Maintenance Account for
      such
      date after making all distributions under Section 5.01(a)(1)(iv) above as
      follows:

     

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

     

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

     

    (iii)
      to
      the
      Class 1A, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro
      rata,
      any
      Unpaid Interest Shortfall Amounts to the extent unpaid;

     

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

     

    (v)
      to
      the
      Class 1A, Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates, pro
      rata,
      any
      Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls to the extent unpaid;
      and

     

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

    
      
        
        

      

      
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    SECTION
      5.02. Allocation of Net Deferred Interest.

     

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

     

    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 Securities Administrator shall aggregate
      the loan-level information provided by the Master Servicer with respect to
      the
      total amount of Realized Losses, if any, with respect to the Mortgage Loans
      in
      each Loan Group for the related Distribution Date and include such information
      in the Distribution Date Statement.

     

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

     

    first,
      to Net
      Monthly Excess Cashflow; 

     

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

     

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

     

    fourth,

     

    (A) with
      respect such losses related to Loan Group 1 Mortgage Loans, to the Class 1A
      Certificates until the Class Principal Balance of such Class is reduced to
      zero;
      and

     

    (B) with
      respect such losses related to Loan Group 2 Mortgage Loans, to the Class 2A-1A,
      Class 2A-1B and Class 2A-1C Certificates, pro rata, until the Class Principal
      Balance of such Class is reduced to zero; provided, however, that all losses
      allocable to the Class 2A-1A, Class 2A-1B and Class 2A-1C Certificates will
      be
      allocated sequentially to the Class 2A-1C, Class 2A-1B and Class 2A-1A
      Certificates, in that order, for so long as such certificates are
      outstanding.

    
      
        
        

      

      
        110

        
          

        

      

       

    

     

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

     

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

     

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

     

    SECTION
      5.04. Statements. 

     

    (a) On
      each
      Distribution Date, the Securities Administrator shall make available to the
      Trustee, each Certificateholder, the Yield Maintenance Provider, the Certificate
      Insurer, the Seller, any NIMS Insurer, the Master Servicer and each Rating
      Agency, a statement based, as applicable, on loan-level information obtained
      from the Master Servicer and 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
      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;

     

    (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, Master Servicing Fees and Credit Risk
      Manager’s Fees for the related Due Period;

     

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

     

    
      
        
        

      

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

     

    (vii) 
      [Reserved];

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    
      
        
        

      

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

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

     

    (xxviii) the
      amount of any Final Maturity Reserve Amount deposited in the Final Maturity
      Reserve Account, and, on the earlier of (i) the Distribution Date in September
      2026 and (ii) the termination of the Trust, the amount distributed from the
      Final Maturity Reserve Account to each Class of Certificates;

     

    (xxix) the
      Overcollateralized Amount for that Distribution Date;

     

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

     

    (xxxi) the
      amount remitted by the Administrator to the Securities Administrator pursuant
      to
      the Yield Maintenance Allocation Agreement;

     

    (xxxii) the
      number of Mortgage Loans and the aggregate Stated Principal Balance of Mortgage
      Loans that have negative amortization;

     

    (xxxiii) the
      amount of any Class P Distributable Amount;

     

    (xxxiv) the
      aggregate amount of any insurance claim payments received with respect to the
      Bulk PMI Policy during the related Due Period; and

     

    
      
        
        

      

      
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    (xxxv) the
      amount of the Bulk PMI Fee paid during the Due Period to which such distribution
      relates.

     

    The
      Securities Administrator 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 Securities Administrator’s internet website. The Securities
      Administrator’s internet website shall initially be located at “www.ctslink.com.”
      Assistance in using the website can be obtained by calling the Securities
      Administrator’s customer service desk at (301) 815-6600. 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 Securities Administrator 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 Securities Administrator 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 Securities
      Administrator shall, upon written request, furnish to any NIMS Insurer, the
      Certificate Insurer and each Person who at any time during the calendar year
      was
      a Certificateholder of a Regular Certificate, if requested in writing by such
      Person or any NIMS Insurer, such information as is reasonably necessary to
      provide to such Person or any NIMS Insurer a statement containing the
      information set forth in subclauses (i) and (ii) above, aggregated for such
      calendar year or applicable portion thereof during which such Person or any
      NIMS
      Insurer was a Certificateholder and such other customary information which
      a
      Certificateholder reasonably requests to prepare its tax returns. Such
      obligation of the Securities Administrator shall be deemed to have been
      satisfied to the extent that substantially comparable information shall be
      prepared and furnished by the Securities Administrator to Certificateholders
      pursuant to any requirements of the Code as are in force from time to
      time.

     

    (c) On
      each
      Distribution Date, the Securities Administrator 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 second Business Day following each Determination Date, the Master
      Servicer shall deliver to the Securities Administrator by telecopy or electronic
      mail (or by such other means as the Master Servicer and the Securities
      Administrator may agree from time to time) the Remittance Report with respect
      to
      the related Distribution Date. Not later than the Close of Business New York
      time three Business Days prior to the related Distribution Date, the Master
      Servicer shall deliver or cause to be delivered to the Securities Administrator
      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 Securities Administrator may reasonably require to perform the
      calculations necessary to make the distributions contemplated by Section
      5.01. 

     

    
      
        
        

      

      
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    (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 deposited in the Distribution Account which will
      be
      used for an advance with respect to such Mortgage Loan, the Master Servicer
      will
      deposit in the Distribution Account not later than the Business Day immediately
      preceding the related Distribution Date an amount equal to such deficiency,
      net
      of the Servicing Fee and the Master Servicing Fee, for such Mortgage Loan except
      to the extent the Master 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 Master Servicer shall continue to make such Advances through the date that
      the Servicer is required to do so under its Servicing Agreement. If the Master
      Servicer determines that an Advance is Nonrecoverable, it shall, on or prior
      to
      the related Distribution Date, present an Officer’s Certificate to the
      Securities Administrator and the Trustee (i) stating that the Master 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 Master Servicing Fee payable to the Master 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 Master Servicer.

     

    SECTION
      5.07. Basis Risk Reserve Fund.

     

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

     

    
      
        
        

      

      
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    (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)(1)(iv)(Q).

     

    (c) On
      any
      Distribution Date for which a Basis Risk Shortfall exists with respect to the
      Class 1A, Class 2A-1A, Class 2A-1B, Class 2A-1C, Class B-1, Class B-2, Class
      B-3, Class B-4, Class B-5, Class B-6 and Class B-7 Certificates, the Securities
      Administrator, as Paying Agent for the Trustee, shall withdraw (i)
      first,
      from
      the Yield Maintenance Account, the amount of such Basis Risk Shortfall for
      such
      Classes of Certificates for distribution on such Distribution Date pursuant
      to
      Section 4.04 and Section 5.01(a)(1)(v), and (ii) second,
      from
      the Basis Risk Reserve Fund, the amount of any such remaining Basis Risk
      Shortfall for distribution on such Distribution Date to the Class 1A, Class
      2A-1A, Class 2A-1B and Class 2A-1C any related Basis Risk Shortfall for such
      Distribution Date on a pro
      rata
      basis,
      based on the respective amounts of Basis Risk Shortfalls for such Distribution
      Date and then sequentially to the Class B-1, Class B-2, Class B-3, Class B-4,
      Class B-5, Class B-6 and Class B-7 Certificates in that order up to the amount
      of Basis Risk Shortfalls due each such Class for such Distribution
      Date.

     

    (d) Funds
      in
      the Basis Risk Reserve Fund shall be invested in Permitted Investments. Any
      earnings on amounts in the Basis Risk Reserve Fund shall be for the benefit
      of
      the Class C Certificateholders. The Class C Certificates shall evidence
      ownership of the Basis Risk Reserve Fund for federal income tax purposes and
      the
      Holders thereof shall direct the Securities Administrator, 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 the
      Wells Fargo Advantage Prime Investment Money Market Fund. 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. 

     

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

     

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

     

    
      
        
        

      

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

     

    (b) To
      the
      extent that the Certificate Insurer has made a payment in respect of Realized
      Losses and such amount has not previously been reimbursed pursuant to Section
      5.01(a)(1)(i)(C), 5.01(a)(1)(ii)(B), 5.01(a)(1)(iii)(B) or 5.01(a)(1)(iv)(B),
      the Certificate Insurer will be subrogated to the rights of the Holders of
      the
      Insured Certificates and will be entitled to the amount of any such Realized
      Losses paid by it to the Insured Certificates that remains unreimbursed prior
      to
      any Recoveries being allocated to the Holders of the Insured
      Certificates.

     

    SECTION
      5.09. The Final Maturity Reserve Trust.

     

    (a) The
      Final
      Maturity Reserve Trust is hereby established as a separate trust, the corpus
      of
      which shall be held by the Securities Administrator, in trust, for the benefit
      of the holders of the Certificates (other than the Class P Certificates). The
      Securities Administrator 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 Securities Administrator held pursuant to this Agreement.

     

    (b) The
      Securities Administrator shall deposit into the Final Maturity Reserve Trust
      any
      Final Maturity Reserve Amounts pursuant to Section 5.01(a)(1)(i)(A). The
      Securities Administrator shall distribute the funds in the Final Maturity
      Reserve Account pursuant to Section 5.01(g).

     

    (c) Funds
      in
      the Final Maturity Reserve Account shall be invested in Permitted Investments
      at
      the written direction of the Holders of the Class C Certificates. Any earnings
      on such amounts shall be distributed pursuant to Section 5.01(g). The Class
      C
      Certificates shall evidence ownership of the Final Maturity Reserve Trust for
      federal income tax purposes and the Holder thereof shall direct the Securities
      Administrator, 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 the Wells Fargo Advantage
      Prime
      Investment Money Market Fund or comparable investment vehicle.

     

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

     

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

     

    
      
        
        

      

      
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    SECTION
      5.10. Yield Maintenance Trust Account. 

     

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

     

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

     

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

     

    The
      Administrator shall terminate the Yield Maintenance Agreement upon the
      occurrence of an event of default or termination event under the Yield
      Maintenance Agreement of which the Administrator has actual knowledge. In the
      event that the Yield Maintenance Agreement is canceled or otherwise terminated
      for any reason (other than the exhaustion of the interest rate protection
      provided thereby), the Administrator shall, at the direction of
      Certificateholders evidencing Voting Rights not less than 50% of the Offered
      Certificates, and to the extent a replacement contract is available (from a
      counterparty designated by the Depositor and acceptable to Certificateholders
      evidencing Voting Rights not less than 50% of the Offered Certificates), execute
      a replacement contract comparable to 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. On the Distribution Date in September
      2012
      or upon the termination of the Trust, the Yield Maintenance Agreement shall
      be
      terminated.

     

    
      
        
        

      

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

     

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

     

    SECTION
      5.11. Yield Maintenance Account. 

     

    The
      Securities Administrator is hereby directed to establish and maintain with
      itself, a separate, segregated account titled “Wells Fargo Bank, N.A., as
      Administrator, on behalf of Deutsche Bank National Trust Company, as Trustee,
      in
      trust for the registered Holders of HarborView Mortgage Loan Trust, Mortgage
      Loan Pass-Through Certificates, Series 2006-7” (the “Yield Maintenance Account”)
      for the benefit of the Offered 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 Securities Administrator 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 Securities Administrator for deposit into the Yield Maintenance
      Account for distribution by the Securities Administrator pursuant to the
      priorities set forth in Section 5.01(h). 

     

    If
      the
      Seller or its affiliate is the Holder of an Offered Certificate, the Seller
      or
      its affiliate shall remit to the Securities Administrator the portion of Yield
      Maintenance Distributable Amounts received by the Holder of such Certificate
      on
      any Distribution Date, and the Securities Administrator will remit such amounts
      to the Yield Maintenance Provider. For purposes of this Agreement, the
      Securities Administrator shall have no duty to confirm that each amount received
      by it from the Seller or its affiliate with respect to the preceding sentence
      is
      the correct amount.

     

    The
      Securities 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 a Responsible Officer of the Securities
      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 Securities
      Administrator shall, at the direction of Certificateholders evidencing Voting
      Rights not less than 50% of the Offered Certificates, and to the extent a
      replacement contract is available (from a counterparty designated by the
      Depositor and acceptable to Certificateholders evidencing Voting Rights not
      less
      than 50% of the Offered Certificates), execute a replacement contract comparable
      to 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 Securities 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.

     

    
      
        
        

      

      
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    On
      the
      Distribution Date in September 2012 or upon the termination of the Trust, the
      Yield Maintenance Agreement shall be terminated.

     

    ARTICLE
      VI

     

    THE
      CERTIFICATES

     

    SECTION
      6.01. The Certificates.

     

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

     

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

     

    The
      Private Certificates shall be offered and sold in reliance either on (i) the
      exemption from registration under Rule 144A of the 1933 Act and shall be issued
      initially in the form of one or more permanent global Certificates in
      definitive, fully registered form with the applicable legends set forth in
      Exhibits C-1, C-2 or C-3 hereto, as applicable, (each, a “Restricted
      Global Security”)
      or
      (ii) Regulation S and shall be issued initially in the form of one or more
      permanent global Certificates in definitive, fully registered form without
      interest coupons with the applicable legends set forth in Exhibits C-1, C-2
      or
      C-3 hereto, as applicable, (each, a “Regulation
      S Global Security”),
      which
      shall be deposited on behalf of the subscribers for such Certificates
      represented thereby with the Trustee, as custodian for DTC and registered in
      the
      name of a nominee of DTC, duly executed by the Securities Administrator 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 Securities Administrator
      is hereby appointed, and the Securities Administrator hereby accepts its
      appointment as, initial Certificate Registrar on behalf of the Trustee, 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 Securities Administrator on behalf of the Trust 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
      Securities Administrator shall execute on behalf of the Trust, 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
      Securities Administrator 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 Securities Administrator shall at the Seller’s expense execute on behalf of
      the Trust 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, the Trustee, the Certificate Registrar, the Master Servicer,
      the
      Securities Administrator 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,
      the
      Trustee, the Certificate Registrar, the Master Servicer, the Securities
      Administrator 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 Securities Administrator, 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 Securities Administrator, 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 Securities Administrator,
      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 Master Servicer, the Securities
      Administrator, any NIMS Insurer, the Depositor or the Trust, 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 Master Servicer, the Servicer, the Securities
      Administrator 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 Yield Maintenance Agreement and the Final Maturity Reserve Trust 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 Yield Maintenance Agreement and the Final Maturity Reserve
      Trust 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.

     

    
      
        
        

      

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

     

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

     

    (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
      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 the Residual Certificate may be registered on the Closing
      Date and no Ownership Interest in the 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 the
      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.

     

    
      
        
        

      

      
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    (iv) Any
      attempted or purported Transfer of any Ownership Interest in the 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.

     

    (v) If
      any
      Person other than a Permitted Transferee acquires any Ownership Interest in
      the
      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
      the
      Residual Certificate in violation of the restrictions in this Section, then
      the
      Securities Administrator 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.

     

    
      
        
        

      

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

     

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

     

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

     

    (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.

     

    
      
        
        

      

      
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    (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.

     

    (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.

     

    
      
        
        

      

      
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    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 Trustee, any NIMS Insurer, the Certificate Registrar (and
      with respect to the Insured Certificates, the Certificate Insurer) and the
      Depositor such security or indemnity as may be required by them to save each
      of
      them harmless, then, in the absence of notice to the Trustee, the Depositor
      or
      the Certificate Registrar that such Certificate has been acquired by a bona
      fide
      purchaser, the Securities Administrator shall execute on behalf of the Trust
      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.

     

    SECTION
      6.04. Persons Deemed Owners.

     

    The
      Depositor, the Trustee, the Certificate Registrar, the Certificate Insurer
      (with
      respect to the Insured Certificates), the Paying Agent and any agent of the
      Depositor, the Trustee, the Certificate Registrar, any NIMS Insurer, the
      Certificate Insurer or the Paying Agent 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, the
      Depositor, the Trustee, the Certificate Registrar, any NIMS Insurer, the Paying
      Agent 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 the Securities
      Administrator 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. 

     

    
      
        
        

      

      
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    (b) The
      Securities Administrator, as Paying Agent, shall hold all sums, if any, held
      by
      it for payment to the Certificateholders in trust for the benefit of the
      Certificateholders entitled thereto until such sums shall be paid to such
      Certificateholders and shall comply with all requirements of the Code regarding
      the withholding of payments in respect of federal income taxes due from
      Certificate Owners and otherwise comply with the provisions of this Agreement
      applicable to it.

     

    ARTICLE
      VII

     

    DEFAULT

     

    SECTION
      7.01. Event of Default. 

     

    (a) If
      any
      one of the following events (each, an “Event
      of Default”)
      shall
      occur and be continuing: 

     

    (i) the
      failure by the Master Servicer to (A) make any Advance on the Business Day
      immediately preceding the related Distribution Date or (B) to deposit in the
      Distribution Account any deposit required to be made under the terms of this
      Agreement, and in either case such failure continues unremedied for a period
      of
      one Business Day after the date upon which written notice of such failure,
      requiring the same to be remedied, shall have been given to the Master Servicer
      (or, if applicable, such shorter time period as is provided in the penultimate
      sentence of Section 7.01(c)); or

     

    (ii) the
      failure by the Master Servicer duly to observe or perform, in any material
      respect, any other covenants, obligations or agreements of the Master Servicer
      as set forth in this Agreement, which failure continues unremedied for a period
      of 60 days, in each case after the date (A) on which written notice of such
      failure, requiring the same to be remedied, shall have been given to the Master
      Servicer by the Trustee or to the Master Servicer and the Trustee by Holders
      of
      Certificates evidencing at least 25% of the Voting Rights or (B) on which a
      Servicing Officer of the Master Servicer has actual knowledge of such failure
      (or, in the case of a breach of its obligation beyond any applicable cure period
      to provide an assessment of compliance, an attestation report or a
      Sarbanes-Oxley Certification pursuant to Sections 3.16 and 3.18, respectively);
      or

     

    (iii) the
      entry
      against the Master Servicer of a decree or order by a court or agency or
      supervisory authority having jurisdiction in the premises for the appointment
      of
      a trustee, conservator, receiver or liquidator in any insolvency,
      conservatorship, receivership, readjustment of debt, marshalling of assets
      and
      liabilities or similar proceedings, or for the winding up or liquidation of
      its
      affairs, and the continuance of any such decree or order unstayed and in effect
      for a period of 60 days; or 

     

    (iv) the
      Master Servicer shall voluntarily go into liquidation, consent to the
      appointment of a conservator or receiver or liquidator or similar person in
      any
      insolvency, readjustment of debt, marshalling of assets and liabilities or
      similar proceedings of or relating to the Master Servicer or of or relating
      to
      all or substantially all of its property; or a decree or order of a court or
      agency or supervisory authority having jurisdiction in the premises for the
      appointment of a conservator, receiver, liquidator or similar person in any
      insolvency, readjustment of debt, marshalling of assets and liabilities or
      similar proceedings, or for the winding-up or liquidation of its affairs, shall
      have been entered against the Master Servicer and such decree or order shall
      have remained in force undischarged, unbonded or unstayed for a period of 60
      days; or the Master Servicer shall admit in writing its inability to pay its
      debts generally as they become due, file a petition to take advantage of any
      applicable insolvency or reorganization statute, make an assignment for the
      benefit of its creditors or voluntarily suspend payment of its
      obligations;

     

    
      
        
        

      

      
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    (b) 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 shall, at the written
      direction of the Holders of Certificates evidencing Voting Rights aggregating
      not less than 51%, or at its option may, by notice then given in writing to
      the
      Master Servicer, terminate all of the rights and obligations of the Master
      Servicer as servicer under this Agreement. Any such notice to the Master
      Servicer shall also be given to each Rating Agency, the Certificate Insurer,
      any
      NIMS Insurer, the Depositor, the Credit Risk Manager and the Seller. On or
      after
      the receipt by the Master Servicer (and by the Trustee if such notice is given
      by the Holders) of such written notice, all authority and power of the Master
      Servicer under this Agreement, whether with respect to the Certificates or
      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 Master 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. The Master Servicer agrees to cooperate with the Trustee
      in effecting the termination of the responsibilities and rights of the Master
      Servicer hereunder, including, without limitation, the delivery to the Trustee
      of all documents and records requested by it to enable it to assume the Master
      Servicer's functions under this Agreement within ten Business Days subsequent
      to
      such notice and the transfer within one Business Day subsequent to such notice
      to the Trustee for the administration by it of all cash amounts that shall
      at
      the time be held by the Master Servicer and to be deposited by it in the
      Distribution Account, any REO Account or any Servicing Account or that have
      been
      deposited by the Master Servicer in such accounts or thereafter received by
      the
      Master Servicer with respect to the Mortgage Loans or any REO Property received
      by the Master Servicer. All reasonable costs and expenses (including attorneys'
      fees) incurred in connection with transferring the Master Servicer's duties
      and
      the Mortgage Files to the successor Master Servicer and amending this Agreement
      to reflect such succession as Master Servicer pursuant to this Section shall
      be
      paid by the predecessor Master Servicer (or if the predecessor Master Servicer
      is the Trustee, the terminated Master Servicer) upon presentation of reasonable
      documentation of such costs and expenses.
      The
      termination of the rights and obligations of the Master Servicer shall not
      affect any liability it may have incurred prior to such termination. To the
      extent that such costs and expenses of the Trustee are not fully and timely
      reimbursed by the predecessor Master Servicer, the Trustee shall be entitled
      to
      reimbursement of such costs and expenses from the Distribution
      Account.

     

    
      
        
        

      

      
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    (c) The
      Securities Administrator shall not later than the close of business on the
      Business Day immediately preceding the related Distribution Date notify the
      Trustee in writing of the Master Servicer’s failure to make any Advance required
      to be made under this Agreement on such date and the amount of such Advance.
      By
      no later than 10:00 A.M. (Chicago time) on the relevant Distribution Date,
      the
      Securities Administrator shall notify the Trustee of the continuance of such
      failure or that the Master Servicer has made the Advance, as the case may be.
      Notwithstanding the terms of the Event of Default described in clause (i) of
      Section 7.01(a), the Trustee, upon receipt of written notice on the Distribution
      Date from the Securities Administrator of the continuance of the failure of
      the
      Master Servicer to make an Advance or deposit funds to the Distribution Account,
      shall, by notice in writing to the Master Servicer, which may be delivered
      by
      telecopy, immediately suspend all of the rights and obligations of the Master
      Servicer thereafter arising under this Agreement, but without prejudice to
      any
      rights it may have as a Certificateholder or to reimbursement of outstanding
      Advances or other amounts for which the Master Servicer was entitled to
      reimbursement as of the date of suspension, and the Trustee, subject to the
      cure
      provided for in this paragraph, if available, shall act as provided in Section
      7.02 to carry out the duties of the Master Servicer, including the obligation
      to
      make any Advance the nonpayment of which is described in clause (i)(A) of
      Section 7.01(a). Any such action taken by the Trustee must be prior to the
      distribution on the relevant Distribution Date, and shall have all of the rights
      incidental thereto. If the Master Servicer shall within two Business Days
      following such suspension remit to the Trustee the amount of any Advance the
      nonpayment of which by the Master Servicer is described in clause (i)(A) of
      Section 7.01(a), together with all other amounts necessary to reimburse the
      Trustee for actual, necessary and reasonable costs incurred by the Trustee
      because of action taken pursuant to this subsection (including interest on
      any
      Advance or other amounts paid by the Trustee (from and including the respective
      dates thereof) at a per annum rate equal to the prime rate for U.S. money center
      commercial banks as published in the Wall Street Journal), then the Trustee,
      subject to the last two sentences of this paragraph, may at its sole discretion
      permit the Master Servicer to resume its rights and obligations as Master
      Servicer hereunder. If
      the
      Master Servicer shall fail to remit such amounts to the Trustee within such
      two
      Business Days after the Distribution Date, then an Event of Default shall occur
      and such notice of suspension shall be deemed to be a notice of termination
      without any further action on the part of the Trustee. The Master Servicer
      agrees that if it fails to make a required Advance by 10:00 A.M. (Chicago time)
      on the related Distribution Date on more than two occasions in any 12 month
      period, the Trustee shall be under no obligation to permit the Master Servicer
      to resume its rights and obligations as Master Servicer hereunder, and
      notwithstanding the cure period provided in Section 7.01(a)(i)(A), an Event
      of
      Default shall be deemed to have occurred on the relevant Distribution Date.
      

     

    SECTION
      7.02. Trustee to Act.

     

    (a) From
      and
      after the date the Master Servicer (and the Trustee, if notice is sent by the
      Holders) receives a notice of termination pursuant to Section 7.01, the Trustee
      shall be the successor in all respects to the Master Servicer in its capacity
      as
      servicer under this 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 Master Servicer by the terms and provisions
      hereof arising on and after its succession. As compensation therefor, the
      Trustee shall be entitled to such compensation as the Master Servicer would
      have
      been entitled to hereunder if no such notice of termination had been given.
      Notwithstanding the above, (i) if the Trustee is unwilling to act as successor
      Master 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 Master Servicer hereunder in the assumption of all or any
      part
      of the responsibilities, duties or liabilities of the Master Servicer hereunder;
      provided, that the appointment of any such successor Master 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 each Rating Agency. Pending appointment of a successor to the Master
      Servicer hereunder, 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 Master Servicer would otherwise have received hereunder.
      The appointment of a successor Master Servicer shall not affect any liability
      of
      the predecessor Master Servicer which may have arisen under this Agreement
      prior
      to its termination as Master Servicer to pay any deductible under an insurance
      policy pursuant to Section 3.09 or to indemnify the Trustee pursuant to Section
      3.30), nor shall any successor Master Servicer be liable for any acts or
      omissions of the predecessor Master Servicer or for any breach by such Master
      Servicer of any of its representations or warranties contained herein 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. 

     

    
      
        
        

      

      
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    (b) Any
      successor, including the Trustee, to the Master Servicer as Master Servicer
      shall during the term of its service as Master Servicer continue to service
      and
      administer the Mortgage Loans for the benefit of Certificateholders, and
      maintain in force a policy or policies of insurance covering errors and
      omissions in the performance of its obligations as Master Servicer hereunder
      and
      a Fidelity Bond in respect of its officers, employees and agents to the same
      extent as the Master Servicer is so required pursuant to Section
      3.04. 

     

    (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 Master Servicer
      to act as successor Master Servicer under this Agreement and the transactions
      set forth or provided for herein.

     

    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 any Master Servicer under this Agreement, provided,
      however,
      that
      the Majority Certificateholders may not waive an event that results in a failure
      to make any required distribution on a Certificate without the consent of the
      Holder of such Certificate. Upon any waiver of an Event of Default, such event
      shall cease to exist and any Event of Default arising therefrom shall be deemed
      to have been remedied for every purpose of this Agreement. No such waiver shall
      extend to any subsequent or other event or impair any right consequent thereto
      except to the extent expressly so waived. Notice of any such waiver shall be
      given by the Trustee to each Rating Agency and the Certificate
      Insurer.

     

    
      
        
        

      

      
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    SECTION
      7.04. Notification to Certificateholders.

     

    (a) Upon
      any
      termination or appointment of a successor to any Master Servicer pursuant to
      this Article VII or Section 3.30, the Trustee shall give prompt written notice
      thereof to the Securities Administrator and the Certificateholders at their
      respective addresses appearing in the Certificate Register, to each Rating
      Agency, to any NIMS Insurer and the Certificate Insurer.

     

    (b) No
      later
      than 60 days after the occurrence of any event which constitutes or which,
      with
      notice or a lapse of time or both, would constitute an Event of Default of
      which
      a Responsible Officer of the Trustee becomes aware of the occurrence of such
      an
      event, the Trustee shall transmit by mail to all Certificateholders, any NIMS
      Insurer and the Certificate Insurer notice of such occurrence unless such Event
      of Default shall have been waived or cured.

     

    ARTICLE
      VIII

     

    THE
      TRUSTEE
      AND THE
      SECURITIES ADMINISTRATOR

     

    SECTION
      8.01. Duties of the Trustee, the Securities Administrator and the
      Administrator.

     

    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, and the Securities
      Administrator each undertake 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, unless the Trustee is acting as successor Master Servicer,
      in
      which case it shall use the same degree of care and skill as the Master Servicer
      hereunder with respect to the exercise of the rights and powers of the Master
      Servicer hereunder.

     

    The
      Trustee and the Securities Administrator, upon receipt of all resolutions,
      certificates, statements, opinions, reports, documents, orders or other
      instruments furnished to the Trustee and the Securities Administrator, 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
      neither the Trustee nor the Securities Administrator will 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
      and the Securities Administrator 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 or the Securities Administrator, as applicable,
      the
      Trustee or the Securities Administrator, as applicable, 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.

     

    
      
        
        

      

      
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    On
      each
      Distribution Date, the Securities Administrator, as Paying Agent, shall make
      monthly distributions to the Final Maturity Reserve Account (commencing with
      the
      Distribution Date in August 2016) and the Certificateholders from funds in
      the
      Distribution Account, the Basis Risk Reserve Fund the Yield Maintenance Account
      and, on the Distribution Date September 2026, the Final Maturity Reserve
      Account, as applicable, in each case as provided in Sections 5.01, 5.07, 5.09
      and 10.01 hereof based on the report of the Securities
      Administrator.

     

    No
      provision of this Agreement shall be construed to relieve the Trustee or the
      Securities Administrator from liability for its own negligent action, its own
      negligent failure to act or its own willful misconduct; provided,
      however,
      that:

     

    (i) prior
      to
      the occurrence of an Event of Default, and after the curing of all such Events
      of Default which may have occurred, the duties and obligations of the Trustee
      and the Securities Administrator shall be determined solely by the express
      provisions of this Agreement, neither the Trustee nor the Securities
      Administrator shall 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
      or the Securities Administrator and, in the absence of bad faith on the part
      of
      the Trustee or the Securities Administrator, respectively, the Trustee or the
      Securities Administrator 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 or the Securities
      Administrator, respectively, and conforming to the requirements of this
      Agreement;

     

    (ii) neither
      the Trustee nor the Securities Administrator shall be liable for an error of
      judgment made in good faith by a Responsible Officer of the Trustee or an
      officer of the Securities Administrator, respectively, unless it shall be proved
      that the Trustee or the Securities Administrator, respectively, was negligent
      in
      ascertaining or investigating the facts related thereto;

     

    (iii) neither
      the Trustee nor the Securities Administrator shall 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 or the
      Securities Administrator, respectively, under this Agreement; and

     

    (iv) the
      Trustee shall not be charged with knowledge of any Event of Default or a
      Document Transfer Event or any other event or matter that may require it to
      take
      action or omit to take action hereunder unless a Responsible Officer of the
      Trustee at the Corporate Trust Office receives written notice of such Event
      of
      Default or Document Transfer Event.

     

    Neither
      the Trustee nor the Securities Administrator shall 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 or the Securities Administrator to perform, or
      be
      responsible for the manner of performance of, any of the obligations of the
      Master Servicer under this 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 Master Servicer in accordance with the terms of this
      Agreement.

     

    
      
        
        

      

      
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    SECTION
      8.02. Certain Matters Affecting the Trustee and the Securities
      Administrator.

     

    Except
      as
      otherwise provided in Section 8.01 hereof:

     

    (i) the
      Trustee and the Securities Administrator 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 and the Securities Administrator may
      prescribe;

     

    (ii) the
      Trustee and the Securities Administrator 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) neither
      the Trustee nor the Securities Administrator shall 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 or
      the
      Securities Administrator, respectively, 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) neither
      the Trustee nor the Securities Administrator shall 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) neither
      the Securities Administrator nor, 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 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 or the Securities
      Administrator 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 or the
      Securities Administrator, as applicable, not reasonably assured to the Trustee
      or the Securities Administrator by the security afforded to it by the terms
      of
      this Agreement, the Trustee or the Securities Administrator, as applicable,
      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 Master Servicer fails
      to
      reimburse the Trustee or the Securities Administrator in respect of the
      reasonable expense of every such examination relating to the Master Servicer,
      the Trustee or the Securities Administrator 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 Securities
      Administrator or the Master Servicer until such time as the Trustee may be
      required to act as the Master Servicer pursuant to Section 7.02 hereof and
      thereupon only for the acts or omissions of the Trustee as a successor Master
      Servicer; 

     

    (vii) the
      Trustee and the Securities Administrator 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 or the Securities Administrator in good
      faith;

     

    (viii) the
      right
      of the Trustee or the Securities Administrator to perform any discretionary
      act
      enumerated in this Agreement shall not be construed as a duty, and neither
      the
      Trustee nor the Securities Administrator shall 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 the banking institutions, including those relating to
      the
      funding of terrorism and money laundering (“Applicable Law”), the Trustee and
      the Securities Administrator are required to obtain, verify and record certain
      information relating to certain individuals and certain entities which maintain
      a business relationship with the Trustee and the Securities Administrator.
      Accordingly, each of the parties agrees to provide the Trustee and the
      Securities Administrator 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 and the Securities Administrator to comply with Applicable
      Law.

     

    SECTION
      8.03. Trustee and the Securities Administrator Not Liable for Certificates or
      Mortgage Loans.

     

    The
      recitals contained herein and in the Certificates (other than the authentication
      of the Securities Administrator on the Certificates) shall be taken as the
      statements of the Depositor or the Seller, and neither the Trustee nor the
      Securities Administrator assumes responsibility for the correctness of the
      same.
      Neither the Trustee nor the Securities Administrator makes representations
      or
      warranties as to the validity or sufficiency of this Agreement or of the
      Certificates (other than with respect to the Securities Administrator the
      signature and authentication of the Securities Administrator on the
      Certificates) or of any Mortgage Loan or related document or of MERS or the
      MERS
      System. The Trustee shall not be accountable for the use or application by
      the
      Master Servicer or the Securities Administrator, or for the use or application
      of any funds paid to the Master Servicer in respect of related Mortgage Loans
      or
      deposited in or withdrawn from the Distribution Account by the Master Servicer
      or the Securities Administrator. Neither the Trustee nor the Securities
      Administrator shall at any time have any responsibility or liability for or
      with
      respect to the legality, validity and enforceability of the Certificate
      Insurance Policy, any Mortgage or any Mortgage Loan, or the perfection and
      priority of any Mortgage or the maintenance of any such perfection and priority,
      or for or with respect to the sufficiency of the Trust Fund or its ability
      to
      generate the payments to be distributed to Certificateholders under this
      Agreement, including, without limitation: the existence, condition and ownership
      of any Mortgaged Property; the existence and enforceability of any hazard
      insurance thereon (other than if the Trustee shall assume the duties of the
      Master 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 Master
      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; any investment of monies by
      or
      at the direction of the Master Servicer or any loss resulting therefrom, it
      being understood that the Trustee shall remain responsible for any Trust Fund
      property that it may hold in its individual capacity and the Securities
      Administrator shall remain responsible for any Trust Fund property that it
      may
      hold in its individual capacity; the acts or omissions of the Master Servicer
      (other than as to the Securities Administrator, if it is also the Master
      Servicer, and as to the Trustee, if the Trustee shall assume the duties of
      the
      Master Servicer pursuant to Section 7.02 hereof, and then only for the acts
      or
      omissions of the Trustee as the successor Master Servicer), or any acts or
      omissions of, the Servicer or any Mortgagor; any action of the Master Servicer
      (other than as to the Securities Administrator, if it is the Master Servicer,
      and as to the Trustee, if the Trustee shall assume the duties of the Master
      Servicer pursuant to Section 7.02 hereof), or in the case of the Trustee the
      Securities Administrator or the Servicer taken in the name of the Trustee;
      the
      failure of the Master Servicer or the Servicer to act or perform any duties
      required of it as agent or on behalf of the Trustee or the Trust Fund hereunder;
      or any action by the Trustee taken at the instruction of the Master Servicer
      (other than if the Trustee shall assume the duties of the Master Servicer
      pursuant to Section 7.02 hereof, and then only for the actions of the Trustee
      as
      the successor Master 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, Custodian, Master Servicer and Securities Administrator May
      Own Certificates.

     

    The
      Trustee, the Custodian, the Master Servicer and the Securities Administrator
      in
      their respective individual capacities, or in any capacity other than as
      Trustee, Custodian, Master Servicer or Securities Administrator hereunder,
      may
      become the owner or pledgee of any Certificates with the same rights they would
      have if they were not Trustee, Custodian, Master Servicer or Securities
      Administrator, as applicable, and may otherwise deal with the parties
      hereto.

     

    
      
        
        

      

      
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    SECTION
      8.05. Trustee’s and Securities Administrator’s Fees and
      Expenses.

     

    The
      Trustee (including in its capacity as Custodian) shall be compensated by the
      Master Servicer for its services hereunder on behalf of the Trust Fund in the
      amount agreed upon by the Master Servicer and the Trustee. The Trustee Fee
      shall
      paid from a portion of the Master Servicing Fee. The Securities Administrator
      shall be compensated by the Master Servicer for its services hereunder from
      a
      portion of the Master Servicing Fee. In addition, the Trustee and the Securities
      Administrator will be entitled to recover from the Distribution Account pursuant
      to Section 4.03(a) all reasonable out-of-pocket expenses, disbursements and
      advances and the expenses of the Trustee (including for such purpose, any fees
      and expenses relating to its capacity as Custodian hereunder) and the Securities
      Administrator, respectively, including without limitation, in connection with
      any filing that the Securities Administrator is required to make under Section
      3.19 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 or the Securities Administrator, respectively,
      in the performance of its duties or the administration of the trusts hereunder,
      under the Certificate Insurance Policy (including the reasonable compensation,
      expenses and disbursements of its counsel) or incurred or made by the Securities
      Administrator under the Yield Maintenance Allocation 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 Master Servicer, the
      Administrator, the Certificateholders or the Trust Fund hereunder or thereunder.
      If funds in the Distribution Account are insufficient therefor, the Trustee,
      the
      Custodian and the Securities Administrator shall recover such expenses from
      future collections on the Mortgage Loans or as otherwise agreed by the
      Certificateholders. Such compensation and reimbursement obligation shall not
      be
      limited by any provision of law in regard to the compensation of a trustee
      of an
      express trust.

     

    SECTION
      8.06. Eligibility Requirements for Trustee and Securities
      Administrator.

     

    The
      Trustee and Securities Administrator 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 or the Securities Administrator
      shall cease to be eligible in accordance with the provisions of this Section
      8.06, the Trustee or the Securities Administrator, as applicable shall resign
      immediately in the manner and with the effect specified in Section 8.07
      hereof.

     

    
      
        
        

      

      
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    SECTION
      8.07. Resignation or Removal of Trustee and Securities
      Administrator.

     

    The
      Trustee and Securities Administrator may at any time resign and be discharged
      from the trusts hereby created by giving written notice thereof to the
      Depositor, the Certificate Insurer, the Seller, any NIMS Insurer, the Master
      Servicer and each Rating Agency. Upon receiving such notice of resignation
      of
      the Trustee, the Depositor shall promptly appoint a successor Trustee that
      meets
      the requirements in Section 8.06 and is reasonably acceptable to any NIMS
      Insurer and the Certificate Insurer or, in the case of notice of resignation
      of
      the Securities Administrator, the Trustee (in consultation with the Depositor)
      shall promptly appoint a successor Securities Administrator that meets the
      requirements in Section 8.06 and is reasonably acceptable to any NIMS Insurer
      and the Certificate Insurer, in each case, by written instrument, in duplicate,
      one copy of which instrument shall be delivered to (i) each of the resigning
      Trustee or Securities Administrator, as applicable, (ii) the successor Trustee
      or successor Securities Administrator, as applicable, and (iii) any NIMS Insurer
      and the Certificate Insurer. If no successor Trustee or successor Securities
      Administrator, as applicable, shall have been so appointed and having accepted
      appointment within 30 days after the giving of such notice of resignation,
      the
      resigning Trustee or Securities Administrator may petition any court of
      competent jurisdiction for the appointment of a successor Trustee or Securities
      Administrator, as applicable.

     

    If
      at any
      time the Trustee or the Securities Administrator shall cease to be eligible
      in
      accordance with the provisions of Section 8.06 hereof and shall fail to resign
      after written request therefor by the Depositor or any NIMS Insurer or if at
      any
      time the Trustee or the Securities Administrator shall be legally unable to
      act,
      or shall be adjudged a bankrupt or insolvent, or a receiver of the Trustee
      or
      the Securities Administrator, as applicable, or of its property shall be
      appointed, or any public officer shall take charge or control of the Trustee
      or
      the Securities Administrator, as applicable, or of its property or affairs
      for
      the purpose of rehabilitation, conservation or liquidation, or if the Trustee
      (in its capacity as Custodian) or the Securities Administrator fails to provide
      an assessment of compliance or an attestation report required under Section
      3.16
      within 15 calendar days of March 1 of each calendar year in which Exchange Act
      reports are required then the Depositor or any NIMS Insurer may remove the
      Trustee or the Trustee may remove the Securities Administrator, as applicable.
      If the Depositor or the Trustee removes the Trustee or the Securities
      Administrator, respectively under the authority of the immediately preceding
      sentence, the Depositor or the Trustee shall promptly appoint a successor
      Trustee or successor Securities Administrator, in each case, reasonably
      acceptable to the NIMS Insurer, that meets the requirements of Section 8.06,
      as
      applicable, by written instrument, in quadruplicate, one copy of which
      instrument shall be delivered to the Trustee or the Securities Administrator,
      as
      applicable, so removed, one copy to the successor Trustee or successor
      Securities Administrator, as applicable, one copy to the Master Servicer, and
      one copy to the Certificate Insurer, and one copy to the NIMS
      Insurer.

     

    The
      Majority Certificateholders (or any NIMS Insurer in the event of failure of
      the
      Trustee or Securities Administrator, as applicable, to perform its obligations
      hereunder) may at any time remove the Trustee or the Securities Administrator
      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 or successor Securities Administrator, as applicable, in
      each
      case, acceptable to the NIMS Insurer, in accordance with this
      Section.

     

    
      
        
        

      

      
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    Any
      resignation or removal of the Trustee or the Securities Administrator and
      appointment of a successor Trustee or a successor Securities Administrator,
      pursuant to any of the provisions of this Section 8.07 shall not become
      effective until acceptance of appointment by the successor Trustee or a
      successor Securities Administrator, as applicable, as provided in Section 8.08
      hereof. As long as the Certificate Insurance Policy is in effect, the Trustee
      or
      the Securities Administrator, as applicable, will send a written notice to
      the
      Certificate Insurer of any such resignation, removal or appointment. If the
      Trustee or the Securities Administrator 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 Securities Administrator shall also be reimbursed any outstanding
      and unpaid costs and expenses.

     

    Notwithstanding
      anything to the contrary contained herein, in the event that the Master Servicer
      resigns or is removed as Master Servicer hereunder, the Securities Administrator
      shall have the right to resign immediately as Securities Administrator by giving
      written notice to the Depositor and the Trustee, with a copy to each Rating
      Agency and the Certificate Insurer.

     

    SECTION
      8.08. Successor Trustee and Successor Securities
      Administrator.

     

    Any
      successor Trustee or successor Securities Administrator appointed as provided
      in
      Section 8.07 hereof shall execute, acknowledge and deliver to the Depositor,
      any
      NIMS Insurer, the Seller and the Master Servicer and to its predecessor Trustee
      or predecessor Securities Administrator, as applicable, an instrument accepting
      such appointment hereunder, and thereupon the resignation or removal of the
      predecessor Trustee or predecessor Securities Administrator, as applicable,
      shall become effective, and such successor Trustee or successor Securities
      Administrator, 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 or Securities
      Administrator. The Depositor, the Seller, the Master Servicer and the
      predecessor Trustee or predecessor Securities Administrator, as applicable,
      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 or successor Securities Administrator, as applicable, all
      such
      rights, powers, duties and obligations.

     

    No
      successor Trustee or successor Securities Administrator shall accept appointment
      as provided in this Section 8.08 unless at the time of such acceptance such
      successor Trustee or successor Securities Administrator shall be eligible under
      the provisions of Section 8.06 hereof and the appointment of such successor
      Trustee or successor Securities Administrator 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 or successor Securities
      Administrator, as applicable, as provided in this Section 8.08, the successor
      Trustee or successor Securities Administrator shall mail notice of the
      appointment of a successor Trustee or Securities Administrator hereunder to
      all
      Holders of Certificates at their addresses as shown in the Certificate Register,
      to the Certificate Insurer and to each Rating Agency.

     

    
      
        
        

      

      
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    SECTION
      8.09. Merger or Consolidation of Trustee or Securities
      Administrator.

     

    Any
      entity into which the Trustee or the Securities Administrator 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 or the Securities
      Administrator shall be a party, or any entity succeeding to the corporate trust
      business of the Trustee or the Securities Administrator, shall be the successor
      of the Trustee or the Securities Administrator, as applicable, 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.

     

    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, 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, at the expense of the Trust Fund, 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 Master Servicer 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 Master 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

     

    
      
        
        

      

      
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    (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.

     

    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 Securities Administrator, not in its individual
      capacity but solely as Securities Administrator 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
      Securities Administrator 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.

     

    
      
        
        

      

      
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    (c) The
      Securities Administrator shall afford the Seller, the Depositor, the Trustee
      and
      each Certificateholder upon reasonable notice during normal business hours
      at
      its offices at 9062 Old Annapolis Road, Columbia, Maryland 21045 or other office
      designated by the Securities Administrator, access to all records maintained
      by
      the Securities Administrator in respect of its duties hereunder and access
      to
      officers of the Securities Administrator responsible for performing such duties.
      The Securities Administrator shall cooperate fully with the Seller, the
      Depositor, the Trustee and such Certificateholder and shall, subject to the
      first sentence of this Section 8.12(c), make available to the Seller, the
      Depositor and such Certificateholder for review and copying such books,
      documents or records as may be reasonably requested with respect to the
      Securities Administrator’s duties hereunder. The Seller, the Depositor, the
      Trustee and the Certificateholders shall not have any responsibility or
      liability for any action or failure to act by the Securities Administrator
      and
      are not obligated to supervise the performance of the Securities Administrator
      under this Agreement or otherwise.

     

    SECTION
      8.13. Suits for Enforcement.

     

    In
      case
      an Event of Default or a default by the Depositor hereunder shall occur and
      be
      continuing, the Trustee may proceed to protect and enforce its rights and the
      rights of the Certificateholders under this Agreement, as the case may be,
      by a
      suit, action or proceeding in equity or at law or otherwise, whether for the
      specific performance of any covenant or agreement contained in this Agreement
      or
      in aid of the execution of any power granted in this Agreement or for the
      enforcement of any other legal, equitable or other remedy, as the Trustee,
      being
      advised by counsel, and subject to the foregoing, shall deem most effectual
      to
      protect and enforce any of the rights of the Trustee 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.

     

    
      
        
        

      

      
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    SECTION
      8.16. Appointment of Custodians.

     

    The
      Trustee may 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 Seller
      shall pay from its own funds, without any right to reimbursement, the fees,
      costs and expenses of each custodian (including the costs of custodian’s
      counsel).

     

    SECTION
      8.17. Maintenance of the Bulk PMI Policy.

     

    (a) The
      Securities Administrator shall remit on behalf of the Servicer to MGIC the
      applicable Bulk PMI Fee, and provide monthly Mortgage Loan balance updates
      to
      the related PMI Insurers. The Master Servicer shall not take, or authorize
      the
      Servicer (consistent with the Servicing Agreement) to take, any action that
      would result in noncoverage under the Bulk PMI Policy of any loss which, but
      for
      the actions of such Master Servicer or the Servicer, would have been covered
      thereunder. The Master Servicer shall not, and shall not authorize the Servicer
      to, cancel or refuse to renew any such Bulk PMI Policy that is in effect at
      the
      date of the initial issuance of the Certificates and is required to be kept
      in
      force hereunder except in accordance with the provisions of this Agreement
      and
      the Servicing Agreement, as applicable.

     

    (b) The
      Master Servicer agrees, to the extent provided in the Servicing Agreement,
      to
      cause the Servicer to present, on behalf of the Trustee and the
      Certificateholders, claims to the insurer under the Bulk PMI Policy and, in
      this
      regard, to take such reasonable action as shall be necessary to permit recovery
      under the Bulk PMI Policy respecting defaulted Mortgage Loans. Pursuant to
      Section 4.02, any amounts collected by the Master Servicer or the Servicer
      under
      the Bulk PMI Policy shall be deposited in the Distribution Account, subject
      to
      withdrawal pursuant to Section 4.03.

     

    (c) The
      Trustee shall retain possession and custody of the originals of the Bulk PMI
      Policy or certificate of insurance if applicable and any certificates of renewal
      as to the foregoing as may be issued from time to time as contemplated by this
      Agreement.

     

    SECTION
      8.18. Limitation of Liability of Securities Administrator and
      Administrator.

     

    Neither
      the Securities Administrator nor the Administrator shall 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 Securities Administrator 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
      Securities Administrator and the Administrator shall be entitled to be
      indemnified and held harmless by the Trust 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 Securities Administrator 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. 

     

    
      
        
        

      

      
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    SECTION
      8.19. Administrator’s Fees and Expenses.

     

    The
      Administrator shall be compensated by the Master Servicer for its services
      under
      the Yield Maintenance Agreement and the Yield Maintenance Allocation Agreement
      from a portion of the Master Servicing 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 Agreement or the Yield Maintenance Allocation 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.

     

    The
      Administrator may at any time resign and be discharged from its duties and
      obligations under the Yield Maintenance Allocation Agreement by giving written
      notice thereof to the Depositor, the Certificate Insurer, the Seller, GCFP,
      any
      NIMS Insurer, the Master Servicer, the Securities Administrator and each Rating
      Agency. Upon receiving such notice of resignation of the Administrator, the
      GCFP
      shall promptly appoint a successor Administrator that is acceptable to any
      NIMS
      Insurer by written instrument, in duplicate, 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 Securities Administrator
      by
      written instrument or instruments delivered to GCFP, the Depositor, the
      Securities Administrator and the Trustee; GCFP shall thereupon use its best
      efforts to appoint a successor Administrator acceptable to the NIMS Insurer,
      in
      accordance with this Section. 

     

    Any
      resignation or removal of the Administrator and appointment of a successor
      Administrator, pursuant to any of the provisions of this Section 8.20 shall
      not
      become effective until acceptance of appointment by the successor Administrator.
      As long as the Certificate Insurance Policy is in effect, the Administrator
      will
      send a written notice to the Certificate Insurer of any such resignation,
      removal or appointment. If the Administrator is removed pursuant to this Section
      8.20, it shall be reimbursed any outstanding and unpaid fees and
      expenses.

     

    
      
        
        

      

      
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    Notwithstanding
      anything to the contrary contained herein, in the event that either the Master
      Servicer or the Securities Administrator resigns or is removed as Master
      Servicer or Securities Administrator hereunder, the Administrator shall have
      the
      right to resign immediately as Administrator by giving written notice to GCFP,
      the Depositor and the Trustee, with a copy to each Rating Agency, the
      Certificate Insurer and any NIMS Insurer. Any Person appointed as successor
      Securities Administrator 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.

     

    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 the Securities
      Administrator shall 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
      Securities Administrator shall apply to the Internal Revenue Service for an
      employer identification number for each REMIC created hereunder by means of
      a
      Form SS-4 or other acceptable method and shall file a Form 8811 with the
      Internal Revenue Service.

     

    (b) The
      Closing Date is hereby designated as the “Startup Day” of each REMIC created
      hereunder within the meaning of section 860G(a)(9) of the Code.
      The
      latest possible maturity date for each interest in any REMIC created hereby
      shall be the Latest Possible Maturity Date.

     

    (c) Except
      as
      provided in subsection (d) of this Section 9.01, the Securities Administrator
      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 Securities Administrator in fulfilling its duties hereunder
      (including the Securities Administrator’s duties as tax return
      preparer).

     

    (d) The
      Securities Administrator 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 Securities Administrator. Notwithstanding the foregoing,
      the Securities Administrator shall have no obligation to prepare, file or
      otherwise deal with partnership tax information or returns. In the event that
      partnership tax information or returns are required by the Internal Revenue
      Service, the Seller, at its own cost and expense, will prepare and file all
      necessary returns.
      The
      Internal Revenue Service has issued OID regulations under Sections 1271 to
      1275
      of the Code generally addressing the treatment of debt instruments issued with
      original issue discount. Under those regulations, debt issued to one Person
      generally is aggregated in determining if there is OID. Because certain Classes
      of Regular Certificates are expected to be issued to one Person (which intends
      to continue to hold the Regular Certificates indefinitely and, in any case,
      for
      at least 30 days), the Securities Administrator, 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 Securities Administrator.

     

    
      
        
        

      

      
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    (e) The
      Securities Administrator 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 Securities Administrator, 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
      Securities Administrator, 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.

     

    (f) Each
      of
      the Master Servicer, Trustee and the Securities Administrator (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, the Securities
      Administrator 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 the Securities Administrator 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 Master Servicer,
      the Securities Administrator, 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 Securities Administrator or any NIMS Insurer has advised it in writing
      that
      an Adverse REMIC Event could occur. 

     

    
      
        
        

      

      
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    (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 Securities Administrator 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
      Securities Administrator 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) None
      of
      the Trustee, the Master Servicer or the Securities Administrator shall enter
      into any arrangement by which any REMIC created hereunder will receive a fee
      or
      other compensation for services.

     

    (k) The
      Securities Administrator 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 Securities Administrator shall treat
      the rights of the Holders of the LIBOR Certificates to receive distributions
      to
      cover Basis Risk Shortfalls as payments under a cap contract written by the
      Holders of the Class C Certificates in favor of the related Holders of the
      LIBOR
      Certificates. Thus, the LIBOR Certificates shall be treated as representing
      not
      only ownership of regular interests in a REMIC, but also ownership of an
      interest in an interest rate cap contract. For purposes of determining the
      issue
      prices of the Certificates, the interest rate cap contracts shall be assumed
      to
      have a zero value unless and until required otherwise by an applicable taxing
      authority.

     

    (l) The
      Securities Administrator 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
      Securities Administrator shall treat each of 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 Account and the Yield Maintenance Account. The Securities Administrator
      shall treat the rights of the Holders of the LIBOR Certificates to receive
      distributions to cover Basis Risk Shortfalls as payments under a cap contract
      written by the Holders of the Class C Certificates in favor of the related
      Holders of the LIBOR Certificates. Thus, the LIBOR Certificates shall be treated
      as representing not only ownership of regular interests in a REMIC, but also
      ownership of an interest in an interest rate cap contract. For purposes of
      determining the issue prices of the Certificates, the interest rate cap
      contracts shall be assumed to have a zero value unless and until required
      otherwise by an applicable taxing authority.

     

    
      
        
        

      

      
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    (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 Master 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.

     

    (a) The
      respective obligations and responsibilities of the Seller, the Depositor, the
      Master Servicer, the Securities Administrator and the Trustee created hereby
      (other than the obligation of the Securities Administrator, as Paying Agent,
      to
      make certain payments to Certificateholders after the final Distribution Date
      and the obligation of the Master Servicer to send certain notices as hereinafter
      set forth) shall terminate upon notice to the Trustee and the Securities
      Administrator 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.

     

    
      
        
        

      

      
        150

        
          

        

      

      
        
        

      

    

     

    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 Aggregate Principal
      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 at the direction of 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 Stated Principal Balance of the
      Mortgage Loans (after giving effect to scheduled payments of principal due
      during the related Due Period, to the extent received or advanced, and
      unscheduled collections of principal received during the related Prepayment
      Period) and the appraised value of the REO Properties and (ii) the fair market
      value of the Mortgage Loans and REO Properties (as determined and as agreed
      upon
      by (w) the Terminator, (x) the NIMS Insurer, (y) the Holders of a majority
      in
      Percentage Interest of the Class C Certificates and (z) if the Holders of the
      LIBOR Certificates will not receive all amounts due and payable as a result
      of
      the exercise of the option by the Terminator, the Trustee, in their good faith
      business judgment as of the close of business on the third Business Day next
      preceding the date upon which notice of any such termination is furnished to
      the
      related Certificateholders pursuant to Section 10.01(b)), plus, (B) in each
      case, accrued and unpaid interest thereon at the weighted average of the
      Mortgage Rates through the end of the Due Period preceding the final
      Distribution Date, plus any unreimbursed Servicing Advances and Advances and
      any
      unpaid Master Servicing Fees and Servicing Fees allocable to such Mortgage
      Loans
      and REO Properties and all amounts, if any, then due and owing to the Trustee,
      the Master Servicer, the Securities Administrator and the Certificate Insurer
      under this Agreement, plus
      any
      Basis Risk Shortfalls then remaining unpaid or which is due to the exercise
      of
      such option (the “Termination
      Price”);
      provided,
      however,
      such
      option may only be exercised if the Termination Price is sufficient to result
      in
      the payment of all interest accrued on, as well as amounts necessary to retire
      the Class Principal Balance of, each Class of Certificates issued pursuant
      to
      this Agreement; and, provided,
      further,
      that if
      there are any NIM Securities outstanding, the Servicer may only exercise its
      option after receiving the prior written consent of the holders of such NIM
      Securities and, if such consent is given, the Termination Price shall also
      include an amount equal to the sum of (1) any accrued interest on the NIM
      Securities, (2) the unpaid principal balance of any such NIM Securities and
      (3)
      any other reimbursable expenses owed by the issuer of the NIM Securities (the
      “NIM
      Redemption Amount”).
      If
      the fair market value of the Mortgage Loans and REO Properties shall be required
      to be made and agreed upon by the Servicer, if it is Terminator, and the Holders
      of a majority of Percentage Interest of the Class C Certificates as provided
      in
      (ii) above in their good faith business judgment, and such determination shall
      take into consideration an appraisal of the value of the Mortgage Loans and
      REO
      Properties conducted by an independent appraiser mutually agreed upon by the
      Servicer, if it is the Terminator, the Holders of a majority in Percentage
      Interest of the Class C Certificates and the Terminator in their reasonable
      discretion, such appraisal to be obtained by the Holders of a majority in
      Percentage Interest of the Class C Certificates at their expense, and (A) such
      appraisal shall be obtained at no expense to the Trustee and (B) the Trustee
      may
      conclusively rely on, and shall be protected in relying on, such fair market
      value determination. No such purchase by the Terminator will be permitted
      without the consent of the NIMS Insurer and the consent of the Certificate
      Insurer if a draw on the Policy will be made or if any amounts due to the
      Certificate Insurer would remain unreimbursed on the Final Distribution
      Date.

     

    
      
        
        

      

      
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    If
      the
      NIMS Insurer directs the Servicer to exercise its option, then (i) the NIMS
      Insurer shall remit the Termination Price in immediately available funds to
      the
      Server 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 at the direction of 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
      Servicer’s termination of the Trust Fund at the direction of the NIMS Insurer,
      except to the extent such losses, liabilities or expenses arise out of or result
      from the Servicer’s negligence, bad faith or willful misconduct. No such
      purchase by the Servicer or the NIMS Insurer will be permitted without the
      consent of the Certificate Insurer if a draw on the Certificate Insurance Policy
      will be made or if any amounts due to the Certificate Insurer would remain
      unreimbursed on the final Distribution Date.

     

    In
      connection with any such purchase pursuant to the preceding paragraph, the
      Master Servicer shall deposit in the Distribution Account all amounts then
      on
      deposit in the Distribution Account, which deposit shall be deemed to have
      occurred immediately preceding such purchase.

     

    In
      addition, Wells Fargo Bank, N.A. (solely in its capacity as the Master Servicer)
      may, at its option, terminate this Agreement on any Distribution Date on which
      the aggregate of the Stated Principal Balances of the Mortgage Loans as of
      the
      end of the immediately preceding Due Period is equal to or less than 1% of
      the
      Cut-off Date Aggregate Principal Balance, by purchasing, on such Distribution
      Date, all of the outstanding Mortgage Loans and REO Properties at a price equal
      to Termination Price; provided,
      that
      the
      right of Wells Fargo Bank, N.A. to repurchase all the Mortgage Loans shall
      be
      exercisable only if American Home has not elected to exercise its optional
      termination right on or before such date. No such purchase by the Master
      Servicer will be permitted without the consent of the Certificate Insurer if
      a
      draw on the Certificate Insurance Policy will be made or if any amounts due
      to
      the Certificate Insurer would remain unreimbursed on the final Distribution
      Date.

     

    (b) Notice
      of
      any termination pursuant to the second paragraph of Section 10.01(a), specifying
      the Distribution Date (which shall be a date that would otherwise be a
      Distribution Date) upon which the Certificateholders may surrender their
      Certificates to the Certificate Registrar for payment of the final distribution
      and cancellation, shall be given promptly by the Trustee upon the Trustee
      receiving notice of such date from the Master 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 Securities Administrator,
      the Master Servicer, the Certificate Insurer and the Certificate Registrar
      at
      the time such notice is given to Holders of the Certificates. Upon any such
      termination, the duties of the Certificate Registrar with respect to the
      Certificates shall terminate and the Trustee shall terminate, or request the
      Master Servicer to 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.

     

    
      
        
        

      

      
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    (c) Upon
      presentation and surrender of the Certificates, the Securities Administrator,
      as
      Paying Agent, shall cause to be distributed to the Holders of the Certificates
      on the Distribution Date for such final distribution, in proportion to the
      Percentage Interests of their respective Class and to the extent that funds
      are
      available for such purpose, an amount equal to the amount required to be
      distributed to such Holders in accordance with the provisions of
      Section 5.01 hereof for such Distribution Date; provided,
      however,
      that
      with respect to amounts that would otherwise be distributed to the Class R
      Certificates (i) with respect to the Group 1 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      2A-1A
      and Class 2A-1B Certificates, pro
      rata
      up to
      the amount by which the aggregate Class Principal Balance of the classes of
      Senior Certificates related to Loan Group 2 on such date is greater than the
      Loan Group Balance of the related Group 2 Mortgage Loans for such Distribution
      Date and (ii) with respect to the Group 2 Mortgage Loans on the final
      Distribution Date, such amounts, if any, shall be distributed to the Class
      1A
      Certificates up to the amount by which the aggregate Class Principal Balance
      of
      the classes of Senior Certificates related to Loan Group 1 on such date is
      greater than the Loan Group Balance of the related Group 1 Mortgage Loans for
      such Distribution Date.

     

    (d) In
      the
      event that all Certificateholders shall not surrender their Certificates for
      final payment and cancellation on or before such final Distribution Date, the
      Securities Administrator 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 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 Master Servicer shall be entitled to all
      unclaimed funds and other assets which remain subject hereto, and the Securities
      Administrator and the Trustee upon transfer of such funds shall be discharged
      of
      any responsibility for such funds, and the Certificateholders shall look to
      the
      Master 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:

     

    
      
        
        

      

      
        153

        
          

        

      

      
        
        

      

    

     

    (i) The
      Trustee at the direction of the Securities Administrator shall sell any
      remaining assets of the Trust Fund to American Home Servicing or its designee
      or
      Wells Fargo Bank, N.A. or its designee, as the case may be, 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
      Securities Administrator 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, the Certificate Insurer and the Securities
      Administrator obtained at the expense of the Seller.

     

    (b) By
      their
      acceptance of Certificates, the Holders thereof hereby agree to appoint the
      Trustee and the Securities Administrator as their attorneys in fact to undertake
      the foregoing steps.

     

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

     

    The
      NIMS
      Insurer, if any, may repurchase any Distressed Mortgage Loan for a purchase
      price equal to the outstanding principal balance of such Mortgage Loan, plus
      accrued interest thereon to the date of repurchase plus any unreimbursed
      Advances, Servicing Advances or Servicing Fees allocable to such Distressed
      Mortgage Loan. Any such repurchase shall be accomplished by the NIMS Insurer’s
      remittance of the purchase price for the Distressed Mortgage Loan to the
      Securities Administrator 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.

     

    
      
        
        

      

      
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    ARTICLE
      XII 

     

    MISCELLANEOUS
      PROVISIONS

     

    SECTION
      12.01. Amendment.

     

    This
      Agreement may be amended from time to time by the Seller, the Depositor, the
      Master Servicer, the Securities Administrator, the Credit Risk Manager and
      the
      Trustee (with the consent of any NIMS Insurer) without the consent of the
      Certificateholders and, with respect to any amendment that adversely affects
      the
      interest of any of the Certificate Insurer or the Holders of the Insured
      Certificates, with the prior written consent of the Certificate Insurer,
      (i) to cure any ambiguity, (ii) to correct or supplement any
      provisions herein which may be defective or inconsistent with any other
      provisions herein, (iii) to make any other provisions with respect to
      matters or questions arising under this Agreement, which shall not be
      inconsistent with the provisions of this Agreement, or (iv) to conform the
      terms
      hereof to the description thereof provided in the Prospectus; provided,
      however,
      that
      any such action listed in clause (i) through (iii) above shall not
      adversely affect in any material respect the interests of any Certificateholder;
      provided,
      further,
      that
      any such action listed in (i) through (iii) above shall be deemed not to
      adversely affect in any material respect the interests of any Certificateholder,
      if evidenced by (i) written notice to the Depositor, the Seller, the Master
      Servicer, the Securities Administrator, the Credit Risk Manager, any NIMS
      Insurer, the Certificate Insurer and the Trustee from the Rating Agency that
      such action will not result in the reduction or withdrawal of the rating of
      any
      outstanding Class of Certificates with respect to which it is a Rating Agency
      (without regard to the Certificate Insurance Policy) or (ii) an Opinion of
      Counsel to the effect that such amendment shall not adversely affect in any
      material respect the interests of any Certificateholder (without taking into
      account the benefits under the Certificate Insurance Policy), is permitted
      by
      the Agreement and all the conditions precedent, if any, have been complied
      with,
      delivered to the Trustee, the Securities Administrator, the Master Servicer,
      any
      NIMS Insurer and the Certificate Insurer.

     

    In
      addition, this Agreement may be amended from time to time by Seller, the
      Depositor, the Master Servicer, the Securities Administrator, the Credit Risk
      Manager and the Trustee with the consent of any NIMS Insurer, the Majority
      Certificateholders and the Certificate Insurer (if the proposed amendment
      adversely affects in any respect the rights and interest of the Certificate
      Insurer) for the purpose of adding any provisions to or changing in any manner
      or eliminating any of the provisions of this Agreement or of modifying in any
      manner the rights of the Holders of Certificates; 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.

     

    
      
        
        

      

      
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    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 the imposition of a tax on any REMIC created
      hereunder pursuant to the REMIC Provisions or cause any REMIC created hereunder
      to fail to qualify as a REMIC at any time that any Certificates are outstanding
      and that the amendment is being made in accordance with the terms hereof, such
      amendment is permitted by this Agreement and all conditions precedent, if any,
      have been complied with.

     

    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 Securities Administrator or 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
      Master Servicer, the Certificate Insurer, the NIMS Insurer and each Rating
      Agency.

     

    It
      shall
      not be necessary for the consent of Certificateholders under this
      Section 12.01 to approve the particular form of any proposed amendment;
      instead it shall be sufficient if such consent shall approve the substance
      thereof. The manner of obtaining such consents and of evidencing the
      authorization of the execution thereof by Certificateholders shall be subject
      to
      such reasonable regulations as the Trustee may prescribe.

     

    The
      Trustee, the Master Servicer and Securities Administrator may, but shall not
      be
      obligated to, enter into any amendment pursuant to this 12.01 Section that
      affects its rights, duties and immunities under this Agreement or
      otherwise.

     

    SECTION
      12.02. Recordation of Agreement; Counterparts.

     

    To
      the
      extent permitted by applicable law, this Agreement is subject to recordation
      in
      all appropriate public offices for real property records in all the counties
      or
      other comparable jurisdictions in which any or all of the Mortgaged Properties
      are situated, and in any other appropriate public recording office or elsewhere,
      such recordation to be effected by the Trustee at the expense of the Trust
      Fund,
      but only upon direction of Certificateholders accompanied by an Opinion of
      Counsel to the effect that such recordation materially and beneficially affects
      the interests of the Certificateholders and the Certificate
      Insurer.

     

    For
      the
      purpose of facilitating the recordation of this Agreement as herein provided
      and
      for other purposes, this Agreement may be executed simultaneously in any number
      of counterparts, each of which counterparts shall be deemed to be an original,
      and such counterparts shall together constitute but one and the same
      instrument.

     

    SECTION
      12.03. Limitation on Rights of Certificateholders.

     

    The
      death
      or incapacity of any Certificateholder shall not (i) operate to terminate
      this Agreement or the Trust Fund, (ii) entitle such Certificateholder’s
      legal representatives or heirs to claim an accounting or to take any action
      or
      proceeding in any court for a partition or winding up of the Trust Fund or
      (iii) otherwise affect the rights, obligations and liabilities of the
      parties hereto or any of them.

     

    
      
        
        

      

      
        156

        
          

        

      

      
        
        

      

    

     

    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, the
      Securities Administrator and the Trustee, that no one or more Holders of
      Certificates shall have any right in any manner whatever by virtue of any
      provision of this Agreement to affect, disturb or prejudice the rights of the
      Holders of any other of such Certificates or the rights of any NIMS Insurer,
      or
      to obtain or seek to obtain priority over or preference to any other such Holder
      or any NIMS Insurer, which priority or preference is not otherwise provided
      for
      herein, or to enforce any right under this Agreement, except in the manner
      herein provided and for the equal, ratable and common benefit of all
      Certificateholders. For the protection and enforcement of the provisions of
      this
      Section 12.03, each and every Certificateholder, the NIMS Insurer and the
      Trustee shall be entitled to such relief as can be given either at law or in
      equity.

     

    By
      accepting its Insured Certificate, each Holder of an Insured Certificate agrees
      that, unless a Certificate Insurer Default exists and is continuing, the
      Certificate Insurer shall have the right to exercise all rights of the Holders
      of the Insured Certificates under this Agreement (other than the right to
      receive distributions on the Insured Certificates) without any further consent
      of the Holders of the Insured Certificates and the Holders of the Insured
      Certificates shall exercise any such rights only upon the written consent of
      the
      Certificate Insurer; provided,
      however,
      each
      Holder of an Insured Certificate and the Certificate Insurer will have the
      right
      to receive statements and reports hereunder. Notwithstanding the foregoing,
      the
      Certificate Insurer shall have no power without the consent of the Holder of
      each Insured Certificate affected thereby to: (i) reduce in any manner the
      amount of, or delay the timing of, distributions of principal or interest
      required to be made hereunder or reduce the Percentage Interest of the Holders
      of the Insured Certificates, the applicable Pass-Through Rate or the Termination
      Price with respect to any of the Insured Certificates; (ii) reduce the
      percentage of Percentage Interests specified in Section 12.01 which are required
      to amend this Agreement; (iii) create or permit the creation of any lien against
      any part of the Trust Fund; (iv) modify any provision in any way which would
      permit an earlier retirement of the Insured Certificates; or (v) amend this
      sentence.

     

    
      
        
        

      

      
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    SECTION
      12.04. Governing Law; Jurisdiction.

     

    THIS
      AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF
      THE
      STATE OF NEW YORK, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS (OTHER
      THAN SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW), AND THE OBLIGATIONS, RIGHTS
      AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH
      SUCH LAWS.

     

    SECTION
      12.05. Notices.

     

    All
      directions, demands and notices hereunder shall be in writing and shall be
      deemed to have been duly given if personally delivered at or mailed by first
      class mail, postage prepaid, or by express delivery service, to (a) in the
      case of the Seller, to Greenwich Capital Financial Products, Inc.,
      600 Steamboat Road, Greenwich, Connecticut 06830, Attention: General
      Counsel (telecopy number (203) 618-2132), or such other address or telecopy
      number as may hereafter be furnished to the Depositor, the Master Servicer,
      the
      Certificate Insurer, the Securities Administrator and the Trustee in writing
      by
      the Seller, (b) in the case of the Trustee, to the Corporate Trust Office or
      such other address or telecopy number as may hereafter be furnished to the
      Depositor, the Master Servicer, the Securities Administrator, the Certificate
      Insurer and the Seller in writing by the Trustee, (c) in the case of the
      Depositor, to Greenwich Capital Acceptance, Inc., 600 Steamboat Road,
      Greenwich, Connecticut 06830, Attention: Legal (telecopy number (203) 618-2132),
      or
      such other address or telecopy number as may be furnished to the Seller, the
      Master Servicer, the Securities Administrator, the Certificate Insurer and
      the
      Trustee in writing by the Depositor; (d) in the case of the Master Servicer
      or
      Securities Administrator, for certificate transfer purposes, at its Corporate
      Trust Office and for all other purposes at P.O. Box 98, Columbia, Maryland
      21046, or for overnight delivery, at 9062 Old Annapolis Road, Columbia, Maryland
      21045 (Attention: HarborView Mortgage Loan Trust 2006-7), Facsimile no.: (410)
      715-2380, or such other address or telecopy number as may be furnished to the
      Depositor, the Seller, the Certificate Insurer and the Trustee in writing by
      the
      Master Servicer or the Securities Administrator, as applicable; (e) in the
      case
      of the Credit Risk Manager, Clayton Fixed Income Services Inc., 1700 Lincoln
      Street, Suite 1600, Denver, Colorado 80203, Attention: General Counsel, and
      (f)
      in the case of the Certificate Insurer, Ambac Assurance Corporation, One State
      Street Plaza, New York, New York 10004, Attention: HarborView 2006-7 (telecopy
      number 212-208-3547),
      or
      such other address or telecopy number as may be furnished to the Depositor,
      the
      Seller, the Master Servicer, the Securities Administrator and the Trustee in
      writing by the Certificate Insurer. Any notice required or permitted to be
      mailed to a Certificateholder shall be given by first class mail, postage
      prepaid, at the address of such Holder as shown in the Certificate Register.
      Notice of any Event of Default shall be given by telecopy and by certified
      mail.
      Any notice so mailed within the time prescribed in this Agreement shall be
      conclusively presumed to have duly been given when mailed, whether or not the
      Certificateholder receives such notice. A copy of any notice required to be
      telecopied hereunder shall also be mailed to the appropriate party in the manner
      set forth above. Any notice required to be delivered by the Securities
      Administrator to the Depositor pursuant to Section 3.19 may be delivered by
      the
      Securities Administrator, 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 Securities Administrator
      in writing by the Depositor.

     

    
      
        
        

      

      
        158

        
          

        

      

      
        
        

      

    

     

    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.

     

    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
      Securities Administrator shall be obligated to use its best reasonable efforts
      promptly to provide notice to the Rating Agencies, the Certificate Insurer
      and
      any NIMS Insurer with respect to each of the following of which a Responsible
      Officer of the Securities Administrator 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 Master Servicer, the Securities Administrator
      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 Master 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 Master
      Servicer:

     

    (c) The
      Master Servicer shall promptly furnish to each Rating Agency copies of the
      following, unless such documents were made available on the Securities
      Administrator’s website:

     

    
      
        
        

      

      
        159

        
          

        

      

      
        
        

      

    

     

    (i) each
      annual statement as to compliance described in Section 3.17 hereof;

     

    (ii) each
      annual assessment of compliance and attestation report described in Section
      3.16
      hereof; and

     

    (iii) each
      notice delivered pursuant to Section 5.05(b) hereof which relates to the fact
      that the Master Servicer has not made an Advance.

     

    (d) All
      notices to the Rating Agencies provided for in this Agreement shall be in
      writing and sent by first class mail, telecopy or overnight courier, as
      follows:

     

    If
      to
      Moody’s, to:

    

    Moody’s
      Investors Service, Inc.

    99
      Church
      Street 

    New
      York,
      New York 10007

    Attention:
      Residential Mortgages

    

    If
      to
      S&P, to:

    

    Standard
      & Poor’s Ratings Services,

    a
      division of The McGraw-Hill Companies, Inc.

    55
      Water
      Street

    New
      York,
      New York 10041

    Facsimile
      number: (212) 438-2661

     

    SECTION
      12.09. Further Assurances.

     

    Notwithstanding
      any other provision of this Agreement, neither the Regular Certificateholders
      nor the Trustee shall have any obligation to consent to any amendment or
      modification of this Agreement unless they have been provided reasonable
      security or indemnity against their out-of-pocket expenses (including reasonable
      attorneys’ fees) to be incurred in connection therewith.

     

    SECTION
      12.10. Benefits of Agreement.

     

    Nothing
      in this Agreement or in the Certificates, expressed or implied, shall give
      to
      any Person, other than the Certificateholders and the parties hereto and their
      successors hereunder, any benefit or any legal or equitable right, remedy or
      claim under this Agreement.

     

    The
      Certificate Insurer is an intended third-party beneficiary of this Agreement
      with respect to the rights of the Classes of Insured Certificates. Any right
      conferred to the Certificate Insurer shall be suspended after the occurrence
      and
      during the continuation of a Certificate Insurer Default. During any period
      of
      suspension, the Certificate Insurer's rights hereunder shall vest in the Holders
      of the Insured Certificates (to the extent such Holders otherwise has such
      rights hereunder). At such time as the Class Principal Balance of the Insured
      Certificates has been reduced to zero and the Certificate Insurer has been
      reimbursed for all amounts to which it is entitled hereunder, the Certificate
      Insurer's rights hereunder shall terminate.

     

    
      
        
        

      

      
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    The
      Depositor shall promptly notify the Custodian, the Securities Administrator
      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 or the Securities
      Administrator and, when expressly required under this Agreement, to the Master
      Servicer. Such instrument or instruments (and the action embodied therein and
      evidenced thereby) are herein sometimes referred to as the “act” of the
      Certificateholders signing such instrument or instruments. Proof of execution
      of
      any such instrument or of a writing appointing any such agent shall be
      sufficient for any purpose of this Agreement and conclusive in favor of the
      Trustee and the Trust Fund, if made in the manner provided in this
      Section 12.11.

     

    (b) The
      fact
      and date of the execution by any Person of any such instrument or writing may
      be
      proved by the affidavit of a witness of such execution or by the certificate
      of
      a notary public or other officer authorized by law to take acknowledgments
      of
      deeds, certifying that the individual signing such instrument or writing
      acknowledged to him the execution thereof. Whenever such execution is by a
      signer acting in a capacity other than his or her individual capacity, such
      certificate or affidavit shall also constitute sufficient proof of his
      authority.

     

    (c) Any
      request, demand, authorization, direction, notice, consent, waiver or other
      action by any Certificateholder shall bind every future Holder of such
      Certificate and the Holder of every Certificate issued upon the registration
      of
      transfer thereof or in exchange therefor or in lieu thereof, in respect of
      anything done, omitted or suffered to be done by the Trustee or the Trust Fund
      in reliance thereon, whether or not notation of such action is made upon such
      Certificate.

     

    SECTION
      12.12. Successors and Assigns.

     

    The
      provisions of this Agreement shall be binding upon and inure to the benefit
      of
      the respective successors and assigns of the parties hereto.

     

    
      
        
        

      

      
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    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
      Securities Administrator shall provide to any person to whom a Prospectus was
      delivered by Greenwich Capital Markets, Inc. (as identified by Greenwich Capital
      Markets, Inc.), upon the request of such person specifying the document or
      documents requested (and certifying that it is a Person entitled hereunder),
      (i)
      a copy (excluding exhibits) of any report on Form 8-K, Form 10-D or Form 10-K
      filed with the Securities and Exchange Commission pursuant to this Agreement
      and
      (ii) a copy of any other document incorporated by reference in the Prospectus
      (to the extent in the Securities Administrator’s possession). Any reasonable
      out-of-pocket expenses incurred by the Securities Administrator in providing
      copies of such documents shall be reimbursed by the Depositor.

     

    
      
        
        

      

      
        162

        
          

        

      

      
        
        

      

    

    

    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/ Vinu Phillips
	 	
              
Name:
              Vinu Phillips
	 	
              Title:
                Senior Vice President

            

    

    
      	 	 	 
	 	 
	 	 
	 	
              GREENWICH
                CAPITAL FINANCIAL PRODUCTS, INC., 

              as
                Seller

            
	 
 	 
 	 
 
	
            	By:  	/s/ Vinu Phillips
	 	
              

              Name:
                Vinu Phillips

              Title:
                Senior Vice President

            
	 	
            

    

    
      	 	 	 
	 	
              WELLS FARGO BANK, N.A., 

              as
                Master Servicer

            
	 
 	 
 	 
 
	
            	By:  	/s/ Stacey M. Taylor
	 	
              

              Name:
                Stacey M. Taylor

              Title:
                Vice President

            
	 	
            

    

    
      	 	 	 
	 	
              WELLS FARGO BANK, N.A., 

              as
                Securities Administrator

            
	 
 	 
 	 
 
	
            	By:  	/s/ Stacey M. Taylor
	 	
              

              Name:
                Stacey M. Taylor

              
                Title:
                  Vice President

              

            
	 	
            

    

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

       

    

    
      	 	 	 
	 	
              DEUTSCHE
                BANK NATIONAL TRUST COMPANY, 

              as
                Trustee and Custodian

            
	 
 	 
 	 
 
	
            	By:  	/s/ Karlene Benvenuto
	 	
              

              Name:
                Karlene Benvenuto

              Title:
                Authorized Signer

            
	 	
            

    

    
      	 	 	 
	
            	By:  	/s/ Eiko Akiyama
	 	
              

              Name:
                Eiko Akiyama

              Title:
                Associate

            
	 	
            

    

    
      	 	 	 
	 	
              CLAYTON FIXED INCOME SERVICES
                INC.,

              as
                Credit Risk Manager

            
	 
 	 
 	 
 
	
            	By:  	/s/ Kevin J. Kanouff
	 	
              

              Name:
                Kevin J. Kanouff

              Title:
                President and General Counsel

            
	 	
            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      
        	STATE
                OF CONNECTICUT	)	 
	 	)	ss.:
	COUNTY
                OF FAIRFIELD 	)	 

      

    

     

    On
      the
      ______ day of August 2006, before me, a notary public in and for said State,
      personally appeared _________known to me to be a ___________of Greenwich Capital
      Acceptance, Inc., a Delaware corporation that executed the within instrument,
      and also known to me to be the person who executed it on behalf of said
      corporation, and acknowledged to me that such corporation executed the within
      instrument.

     

    IN
      WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
      day and year in this certificate first above written.

    
      	 	 	 
	
            	
            	 
	 	
              

              Notary
                Public

            

    

     

    
      
         

      

      
         

        
          

        

      

      
         

      

       

    

    
      
        
          	STATE
                  OF CONNECTICUT	)	 
	 	)	ss.:
	COUNTY
                  OF FAIRFIELD 	)	 

        

      

       

    

    On
      the
      ______ day of August 2006, before me, a notary public in and for said State,
      personally appeared _________known to me to be a ___________of Greenwich Capital
      Financial Products, Inc., a Delaware corporation that executed the within
      instrument, and also known to me to be the person who executed it on behalf
      of
      said corporation, and acknowledged to me that such corporation executed the
      within instrument.

     

    IN
      WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
      day and year in this certificate first above written.

    
      
        	 	 	 
	
              	
              	 
	 	
                

                Notary
                  Public

              

      

       

      
        
           

        

        
           

          
            

          

        

        
           

        

         

      

    

    
      
        	STATE OF MARYLAND	)	 
	 	)	ss.:
	COUNTY OF HOWARD	
                )

              	 

      

    

     

    On
      the
      15th day of August 2006, before me, a notary public in and for said State,
      personally appeared Stacey Taylor known to me to be a Vice President of Wells
      Fargo Bank, N.A. that executed the within instrument, and also known to me
      to be
      the person who executed it on behalf of said corporation, and acknowledged
      to me
      that such corporation executed the within instrument.

     

    IN
      WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
      day and year in this certificate first above written.

    
      
        
          	 	 	 
	
                	
                	/s/ Graham M. Oglesby
	 	
                  

                  Notary
                    Public

                

        

         

        
          
             

          

          
             

            
              

            

          

          
             

          

           

        

      

      
        
          
            	STATE OF CALIFORNIA	)	 
	 	)	ss.:
	COUNTY OF ORANGE	
                    )

                  	 

          

        

         
On
        the
        9th day of August 2006, before me, a notary public in and for said State,
        personally appeared Karlene Benvenuto known to me to be Authorized Signer
        of
        Deutsche Bank National Trust Company, a national banking association that
        executed the within instrument, and also known to me to be the person who
        executed it on behalf of said corporation, and acknowledged to me that such
        corporation executed the within instrument.

    

     

    IN
      WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
      day and year in this certificate first above written.

    
      
        
          
            	 	 	 
	
                  	
                  	/s/ Diana Nguyen
	 	
                    

                    Notary
                      Public

                  

          

           

          
            
               

            

            
               

              
                

              

            

            
               

            

             

          

        

        
          
            
              	STATE OF CALIFORNIA	)	 
	 	)	ss.:
	COUNTY OF ORANGE	
                      )

                    	 

            

          

           
On
          the
          9th day of August 2006, before me, a notary public in and for said State,
          personally appeared Eiko Akiyama known to me to be Associate of Deutsche
          Bank
          National Trust Company, a national banking association that executed the
          within
          instrument, and also known to me to be the person who executed it on behalf
          of
          said corporation, and acknowledged to me that such corporation executed
          the
          within instrument.

      

    

     

    IN
      WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the
      day and year in this certificate first above written.

    
      
        
          
            
              	 	 	 
	
                    	
                    	/s/ Diana Nguyen
	 	
                      

                      Notary
                        Public

                    

            

             

            
              
                 

              

              
                 

                
                  

                

              

              
                 

              

            

          

          SCHEDULE
            I

        

      

    

    

    MORTGAGE
      LOAN SCHEDULE

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

     

    
      EXHIBIT
        A

       

      FORM
        OF SENIOR CERTIFICATE

       

      CLASS
        [          
 ]A[-1[               
]] CERTIFICATE

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
        IS
        REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
        BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.

       

      IF
        THE
        RATING OF THIS CERTIFICATE IS BELOW “AA-” OR ITS EQUIVALENT WHEN IT IS ACQUIRED,
        THE HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT
        PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
        OF
        1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF
        THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN
        OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE
        TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING
        UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE
        WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN
        SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT
        THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I
        AND
        III OF PTCE 95-60.

       

      ON
        OR
        PRIOR TO THE TERMINATION OF THE YIELD MAINTENANCE AGREEMENT AND THE FINAL
        MATURITY RESERVE TRUST, THIS CERTIFICATE MAY NOT BE ACQUIRED BY A TRANSFEREE
        FOR, OR ON BEHALF OF, AN EMPLOYEE BENEFIT PLAN OR OTHER RETIREMENT ARRANGEMENT
        SUBJECT TO SECTION 406 OF ERISA OR SECTION 4975 OF THE INTERNAL REVENUE CODE
        OF
        1986, AS AMENDED (THE “CODE”) OR BY ANY ENTITY DEEMED TO HOLD THE PLAN ASSETS OF
        THE FOREGOING, UNLESS IT REPRESENTS AND WARRANTS THAT THE ACQUISITION AND
        HOLDING OF SUCH CERTIFICATE, THROUGHOUT THE PERIOD THAT IT HOLDS SUCH
        CERTIFICATE, WILL NOT RESULT IN A NON-EXEMPT PROHIBITED TRANSACTION UNDER
        SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WHICH IS NOT COVERED BY
        PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 84-14, PTCE 90-1, PTCE 91-38,
        PTCE 95-60, PTCE 96-23 OR SOME OTHER APPLICABLE EXEMPTION. EACH INVESTOR
        IN THIS
        CERTIFICATE WILL BE DEEMED TO REPRESENT THAT IT IS IN COMPLIANCE WITH THE
        FOREGOING AND WILL FURTHER BE DEEMED TO REPRESENT, WARRANT AND COVENANT THAT
        IT
        WILL NOT SELL, PLEDGE OR OTHERWISE TRANSFER SUCH CERTIFICATE IN VIOLATION
        OF THE
        FOREGOING. [For
        the Class 1A and Class 2A-1A Certificates Only.]

       

      
        
          
          

        

        
          A-1

          
            

          

        

        
          
          

        

      

       

      THE
        HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT
        PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
        OF
        1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF
        THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN
        OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE
        TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING
        UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE
        WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN
        SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT
        THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I
        AND
        III OF PTCE 95-60. [For
        certificates other than the Class 1A and Class 2A-1A Certificates
        Only.]

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
        RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE CODE.

       

      
        	
                Certificate
                  No.:

              	
                [             
                  ]

              
	 	 
	
                Cut-Off
                  Date:

              	
                August
                  1, 2006

              
	 	 
	
                First
                  Distribution Date:

              	
                September
                  19, 2006

              
	 	 
	
                Initial
                  Certificate Principal

              	 
	
                Balance
                  of this Certificate

              	 
	
                (“Denomination”):

              	
                $[           
                  ]

              
	 	 
	
                Original
                  Class Certificate

              	 
	
                Principal
                  Balance of this

              	 
	
                Class:

              	
                $[         
                    ]

              
	 	 
	
                Percentage
                  Interest:

              	
                100%

              
	 	 
	
                Pass-Through
                  Rate:

              	
                Variable

              
	 	 
	
                CUSIP:

              	
                41161V
                  [      ]

              
	 	 
	
                Class:

              	
                [      
                  ]A[-1[       ]]

              
	 	 
	
                Assumed
                  Final Distribution Date:

              	
                September
                  19, 2036

              

      

      

      [For
        the Class 2A-1C Certificates Only: October 19, 2037]

      

      
        
          
          

        

        
          A-2

          
            

          

        

        
          
          

        

      

      

      HarborView
        Mortgage Loan Trust 2006-7,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-7

      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 August 1, 2006 (the
“Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the
“Master Servicer”) and securities administrator (in such capacity, the
“Securities Administrator”), Clayton Fixed Income Services Inc., as credit risk
        manager, and Deutsche Bank National Trust Company, as trustee (in such capacity,
        the “Trustee”) and custodian. 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, the Master Servicer, the Securities Administrator
        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
        Securities Administrator and Certificate Registrar.

       

      
        
          
          

        

        
          A-3

          
            

          

        

        
          
          

        

      

      

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

      
        	 	 	 
	 	
                WELLS
                  FARGO BANK, N.A.,
                  as
                    Securities Administrator

                

              
	 
 	 
 	 
 
	
              	By 	 
	 	
                

              
	 	
              

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      
        	 	 	 
	By	
              
	
                
                  

                

                 Authorized
                  Signatory of

                WELLS
                  FARGO BANK, N.A.,

                as
                  Certificate Registrar

                
 

              	 
 	 
 
	
              	
              	 

      

       

      
        
          
            
            

          

          
            A-4

            
              

            

          

           

        

      

       

      EXHIBIT
        B

       

      FORM
        OF SUBORDINATE CERTIFICATE

       

      UNLESS
        THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY
        TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE TRUSTEE OR ITS AGENT FOR
        REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY CERTIFICATE ISSUED
        IS
        REGISTERED IN THE NAME OF CEDE & CO. OR IN SUCH OTHER NAME AS IS REQUESTED
        BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT IS MADE TO CEDE &
CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE
        OF
        DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY
        OR TO
        ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO.,
        HAS AN INTEREST HEREIN.

       

      SOLELY
        FOR U.S. FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE IS A “REGULAR INTEREST”
IN A “REAL ESTATE MORTGAGE INVESTMENT CONDUIT”, AS THOSE TERMS ARE DEFINED,
        RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986,
        AS
        AMENDED (THE “CODE”).

       

      THE
        HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT (A) SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT
        PLAN SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT
        OF
        1974, AS AMENDED (“ERISA”), OR A PLAN OR ARRANGEMENT SUBJECT TO SECTION 4975 OF
        THE CODE (COLLECTIVELY, A “PLAN”) NOR A PERSON ACTING ON BEHALF OF ANY SUCH PLAN
        OR ARRANGEMENT NOR A PERSON USING THE ASSETS OF ANY SUCH PLAN TO EFFECT THE
        TRANSFER OR (B) IF THIS CERTIFICATE HAS BEEN THE OBJECT OF AN ERISA-QUALIFYING
        UNDERWRITING, THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS CERTIFICATE
        WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS DEFINED IN
        SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION (“PTCE”) 95-60 AND THAT
        THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER SECTIONS I
        AND
        III OF PTCE 95-60.

       

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

       

      

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  August
                    1, 2006

                
	 	 
	
                  First
                    Distribution Date:

                	
                  September
                    19, 2006

                
	 	 
	
                  Initial
                    Certificate Principal

                	 
	
                  Balance
                    of this Certificate

                	 
	
                  (“Denomination”):

                	
                  $[           
                    ]

                
	 	 
	
                  Original
                    Class Certificate

                	 
	
                  Principal
                    Balance of this

                	 
	
                  Class:

                	
                  $[          
                    ]

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Pass-Through
                    Rate:

                	
                  Variable

                
	 	 
	
                  CUSIP:

                	
                  41161V
                    [        ]

                
	 	 
	
                  Class:

                	
                  B-[     
                    ]

                
	 	 
	
                  Assumed
                    Final Distribution Date:

                	
                  September
                    19, 2036

                

        

      

       

       

      
        
          
          

        

        
          B-1

          
            

          

        

        
          
          

        

      

       

      HarborView
        Mortgage Loan Trust,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-7

      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 August 1, 2006 (the
“Agreement”) among Greenwich Capital Acceptance, Inc., as depositor (the
“Depositor”), Greenwich Capital Financial Products, Inc., as seller (the
“Seller”), Wells Fargo Bank, N.A., as master servicer (in such capacity, the
“Master Servicer”) and securities administrator (in such capacity, the
“Securities Administrator”), Clayton Fixed Income Services Inc., as credit risk
        manager, and Deutsche Bank National Trust Company, as trustee (in such capacity,
        the “Trustee”) and custodian. 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, the Master Servicer, the Securities Administrator
        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
        Securities Administrator and Certificate Registrar.

      

      
        
          
          

        

        
          B-2

          
            

          

        

        
          
          

        

      

       

      IN
        WITNESS WHEREOF, the Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

      
        	 	 	 
	 	
                WELLS
                  FARGO BANK, N.A.,
                  as
                    Securities Administrator

                

              
	 
 	 
 	 
 
	
              	By  	 
	 	
                

              

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      
        	 	 	 	 
	By	 	 	
              
	
                
                  

                

                Authorized
                  Signatory of

                WELLS
                  FARGO BANK, N.A.,

                as
                  Certificate Registrar

              	 	 	
              

      

       

       

      
        
           

          
            B-3

            
              

            

          

           

        

      

      
         

      

      EXHIBIT
        C-1

       

      FORM
        OF CLASS C CERTIFICATE

       

      THIS
        CERTIFICATE DOES NOT EVIDENCE AN INTEREST IN ANY REMIC CREATED PURSUANT TO
        THE
        AGREEMENT REFERENCED HEREIN.

       

      THE
        HOLDER OF THIS CERTIFICATE WILL BE ENTITLED TO CERTAIN DISTRIBUTIONS AS PROVIDED
        IN THE AGREEMENT.

       

      THIS
        CERTIFICATE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS
        AMENDED, (THE “1933 ACT”) OR ANY STATE SECURITIES LAWS. NEITHER THIS CERTIFICATE
        NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED,
        TRANSFERRED, PLEDGED, ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE
        OF SUCH
        REGISTRATION, UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
        REGISTRATION.

       

      THE
        HOLDER OF THIS CERTIFICATE BY ITS ACCEPTANCE HEREOF IS DEEMED TO HAVE
        REPRESENTED AND WARRANTED THAT IT ACQUIRED SUCH CERTIFICATE (I)(A) PURSUANT
        TO A
        REGISTRATION STATEMENT WHICH HAS BEEN DECLARED EFFECTIVE UNDER THE 1933 ACT
        OR
        (B) AS A “QUALIFIED INSTITUTIONAL BUYER” AS DEFINED IN RULE 144A UNDER THE 1933
        ACT THAT PURCHASES FOR ITS OWN ACCOUNT OR FOR THE ACCOUNT OF A QUALIFIED
        INSTITUTIONAL BUYER TO WHOM NOTICE IS GIVEN THAT THE TRANSFER IS BEING MADE
        IN
        RELIANCE ON RULE 144A, AND THAT (II) SUCH HOLDER IS NOT AN EMPLOYEE BENEFIT
        PLAN
        SUBJECT TO THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED
        (“ERISA”), OR A PLAN OR ARRANGEMENT SECTION 4975 OF THE INTERNAL REVENUE CODE OF
        1986, AS AMENDED (THE “CODE”), THE TRUSTEE OF ANY SUCH PLAN OR A PERSON ACTING
        ON BEHALF OF ANY SUCH PLAN NOR A PERSON USING THE ASSETS OF ANY SUCH
        PLAN.

       

      NEITHER
        THIS CERTIFICATE NOR ANY INTEREST HEREIN MAY BE TRANSFERRED UNLESS THE
        TRANSFEREE DELIVERS TO THE CERTIFICATE REGISTRAR EITHER (A) A REPRESENTATION
        LETTER TO THE EFFECT THAT SUCH TRANSFEREE IS NOT AN EMPLOYEE BENEFIT PLAN
        OR
        OTHER RETIREMENT ARRANGEMENT SUBJECT TO SECTION 406 OF THE EMPLOYEE RETIREMENT
        INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR TO SECTION 4975 OF THE
        INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) OR ANY ENTITY DEEMED TO
        HOLD THE PLAN ASSETS OF THE FOREGOING (COLLECTIVELY, A “PLAN”) NOR A PERSON
        ACTING FOR, OR ON BEHALF OF, ANY SUCH PLAN TO EFFECT THE TRANSFER, OR (B)
        IF
        THIS CERTIFICATE HAS BEEN THE SUBJECT OF AN ERISA-QUALIFYING UNDERWRITING,
        A
        REPRESENTATION THAT THE PURCHASER IS AN INSURANCE COMPANY PURCHASING THIS
        CERTIFICATE WITH FUNDS CONTAINED IN AN “INSURANCE COMPANY GENERAL ACCOUNT” AS
        DEFINED IN SECTION V(e) OF PROHIBITED TRANSACTION CLASS EXEMPTION 95-60 (“PTCE
        95-60”) AND THE PURCHASE AND HOLDING OF THIS CERTIFICATE ARE COVERED UNDER
        SECTIONS I AND III OF PTCE-95-60, OR (C) AN OPINION OF COUNSEL IN ACCORDANCE
        WITH THE PROVISIONS OF THE AGREEMENT REFERRED TO HEREIN. NOTWITHSTANDING
        ANYTHING ELSE TO THE CONTRARY HEREIN, ANY PURPORTED TRANSFER OF THIS CERTIFICATE
        TO OR ON BEHALF OF A PLAN WITHOUT AN OPINION OF COUNSEL SATISFACTORY TO THE
        CERTIFICATE REGISTRAR AS DESCRIBED ABOVE SHALL BE VOID AND OF NO EFFECT.
        THIS
        CERTIFICATE IS SUBORDINATE IN RIGHT AND PAYMENT AS DESCRIBED IN THE AGREEMENT
        REFERRED TO HEREIN.

       

      
        
          
          

        

        
          C-1-1

          
            

          

        

        
          
          

        

      

       

      

        
          	
                  Certificate
                    No.:

                	
                  1

                
	 	 
	
                  Cut-Off
                    Date:

                	
                  August
                    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 2006-7

       

      Mortgage
        Loan Pass-Through Certificates, 

      Series
        2006-7

      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 August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. 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, the Master Servicer, the Securities Administrator 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
        Securities Administrator and 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 Securities Administrator,
        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 Securities Administrator 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 Securities Administrator has caused this Certificate
        to be
        duly executed.

       

      Dated:
        August ___, 2006

      
        	 	 	 
	 	
                WELLS
                  FARGO BANK, N.A.,
                  as
                    Securities Administrator 

                

              
	 
 	 
 	 
 
	
              	By 	 
	 	
                

              
	 	
              

      

       

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      
        	By	 	 
	
                
                  

                  Authorized
                    Signatory of

                  Wells
                    Fargo Bank, N.A.,

                  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:

                	
                  August
                    1, 2006

                
	 	 
	
                  First
                    Distribution Date:

                	
                  September
                    19, 2006

                
	 	 
	
                  Initial
                    Certificate Principal 

                	 
	
                  Balance
                    of this Certificate:

                	
                  $100

                
	 	 
	
                  Original
                    Class 

                	
                  Principal
                    Balance of this 

                
	 	 
	
                  Class:

                	
                  $100

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Class:

                	
                  P

                

        

      

       

      
        
          
          

        

        
          C-2-2

          
            

          

        

        
          
          

        

      

       

      HarborView
        Mortgage Loan Trust 2006-7

      Mortgage
        Loan Pass-Through Certificates, Series 2006-7

      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 August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. 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, the Master Servicer, the Securities Administrator 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
        Securities Administrator and 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 Securities Administrator,
        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 Securities Administrator 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 Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

      
        	 	 	 
	 	
                WELLS
                  FARGO BANK, N.A.,
                  as
                    Securities Administrator 

                

              
	 
 	 
 	 
 
	
              	By	
              
	 	
                

              
	 	
              

      

       

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

       

      
        	 	 	 	 
	By	 	 	 
	
                
                  

                

                Authorized
                  Signatory of

                Wells
                  Fargo Bank, N.A.,

                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 SECURITIES ADMINISTRATOR 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:

                	
                  August
                    1, 2006

                
	 	 
	
                  Percentage
                    Interest:

                	
                  100%

                
	 	 
	
                  Class:

                	
                  R

                

        

      

       

      
        
          
          

        

        
          C-3-1

          
            

          

        

        
          
          

        

      

      

      HarborView
        Mortgage Loan Trust 2006-7,

      Mortgage
        Loan Pass-Through Certificates, Series 2006-7

      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 August 1, 2006 (the “Agreement”)
        among Greenwich Capital Acceptance, Inc., as depositor (the “Depositor”),
        Greenwich Capital Financial Products, Inc., as seller (the “Seller”), Wells
        Fargo Bank, N.A., as master servicer (in such capacity, the “Master Servicer”)
        and securities administrator (in such capacity, the “Securities Administrator”),
        Clayton Fixed Income Services Inc., as credit risk manager, and Deutsche
        Bank
        National Trust Company, as trustee (in such capacity, the “Trustee”) and
        custodian. 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, the Master Servicer, the Securities Administrator 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
        Securities Administrator and 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 Securities Administrator,
        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 Securities Administrator 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 Securities Administrator and Certificate Registrar has
        caused this Certificate to be duly executed.

       

      Dated:
        August ___, 2006

      
        	 	 	 
	 	
                WELLS
                  FARGO BANK, N.A.,
                  as
                    Securities Administrator 

                

              
	 
 	 
 	 
 
	 	By  	
              
	 	
                

              
	 	
              

      

      

      This
        is
        one of the Certificates

      referenced
        in the within-mentioned Agreement

      
        	 	 	 
	By	 
	
                
                  

                  Authorized
                    Signatory of

                  Wells
                    Fargo Bank, N.A.,

                  as
                    Certificate Registrar

                

              	 
 	 
 

      

       

      
        
          
          

        

        
          C-3-4

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        D

       

      FORM
        OF REVERSE CERTIFICATE

       

      HARBORVIEW
        MORTGAGE LOAN TRUST 2006-7

      Mortgage
        Loan Pass-Through Certificates, Series 2006-7

      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
        2006-7 (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 September 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 Master Servicer
        and
        Securities Administrator, 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 Master Servicer, the Securities
        Administrator, 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
        Master Servicer, the Securities Administrator, 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
        under
        a certain Pooling and Servicing Agreement dated as of August 1, 2006, among
        Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
        Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer and
        Securities Administrator, Clayton Fixed Income Services, Inc., as Credit
        Risk
        Manager and Deutsche Bank National Trust Company, as Trustee and Custodian
        (the
“Pooling and Servicing Agreement”), the undersigned [Master Servicer] [Servicer]
        hereby requests a release of the Mortgage File held by you as 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 [Master Servicer] [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 [Master Servicer] [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 [Master Servicer] [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 [Master Servicer] [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
                  2006-7

              

      

       

      Ladies
        and Gentlemen:

       

      Pursuant
        to Section 2.01 of the Pooling and Servicing Agreement dated as of August
        1,
        2006, among Greenwich Capital Acceptance, Inc., as Depositor, Greenwich Capital
        Financial Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
        and Securities Administrator, Clayton Fixed Income Services, Inc., as Credit
        Risk Manager and Deutsche Bank National Trust Company, as Trustee and Custodian,
        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

       

      
        
          
          

        

        
          G-1-2

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        2

       

      EXCEPTION
        REPORT

      

      
        
          
            
            

          

          
            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

              	 
	 	 
	
                Wells
                  Fargo Bank, N.A.

                9062
                  Old Annapolis Road

                Columbia,
                  Maryland 21045

              	 

      

      

       

      
        	
              	Re:	
                Pooling
                  and Servicing Agreement dated as of August 1, 2006, among Greenwich
                  Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                  Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
                  and
                  Securities Administrator, Clayton Fixed Income Services, Inc.,
                  as Credit
                  Risk Manager and Deutsche Bank National Trust Company, as Trustee
                  and
                  Custodian, HarborView Mortgage Loan Trust 
                  Mortgage
                    Loan Pass-Through Certificates, Series 2006-7  
                     

                

              

      

       

      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.

                

        

      

       

      
        
          
          

        

        
          G-2-1

          
            

          

        

        
          
          

        

      

       

      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.

       

      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

       

      Wells
        Fargo Bank, N.A.

      9062
        Old Annapolis Road

      Columbia,
        Maryland 21045

       

      
        	
              	Re:	
                Pooling
                  and Servicing Agreement dated as of August 1, 2006, among Greenwich
                  Capital Acceptance, Inc., as Depositor, Greenwich Capital Financial
                  Products, Inc., as Seller, Wells Fargo Bank, N.A., as Master Servicer
                  and
                  Securities Administrator, Clayton Fixed Income Services, Inc.,
                  as Credit
                  Risk Manager and Deutsche Bank National Trust Company, as Trustee
                  and
                  Custodian,

                HarborView Mortgage Loan Trust

                Mortgage Loan Pass-Through
                  Certificates,
                  Series 2006-7  

              

      

       

      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.

      
        
          
          

        

        
          G-3-1

          
            

          

        

         

      

       

      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-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
        2006-7, Mortgage Loan Pass-Through Certificates, Series 2006-7, 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

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

       

      
        	
              	Re:	
                HarborView
                  Mortgage Loan Trust 2006-7 Mortgage Loan Pass-Through 

                Certificates,
                  Series 2006-7, 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 August 1, 2006 (the “Agreement”) among Greenwich Capital
        Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
        as
        Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator,
        Clayton Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
        Bank
        National Trust Company, as Trustee and Custodian, 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

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

       

      
        	
              	Re:	
                HarborView
                  Mortgage Loan Trust 2006-7, Mortgage Loan Pass-Through 

                Certificates,
                  Series 2006-7, 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 August 1, 2006 (the “Agreement”) among Greenwich Capital
        Acceptance, Inc., as Depositor, Greenwich Capital Financial Products, Inc.,
        as
        Seller, Wells Fargo Bank, N.A., as Master Servicer and Securities Administrator,
        Clayton Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
        Bank
        National Trust Company, as Trustee and Custodian, 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

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

       

      
        	 	
                Re:
                  

              	
                HarborView
                  Mortgage Loan Trust 2006-7, Mortgage Loan

                Pass-Through
                  Certificates, Series 2006-7, 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

       

      Wells
        Fargo Bank, N.A.

      9062
        Old
        Annapolis Rd.

      Columbia,
        MD 21045

      

       

      
        	 	
                Re:
                  

              	
                HarborView
                  Mortgage Loan Trust 2006-7, Mortgage Loan

                Pass-Through
                  Certificates, Series 2006-7, 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:

              

      

       

      
        	 	 	 
	 	IF
                AN
                ADVISER:
	 
 	 
 	 
 
	 	 	
                
Print
                Name of Buyer
	 	
              
	 	Date:
                ________________________________________

      

      
        
          
          

        

        
          J-2-7

          
            

          

        

         

      

      EXHIBIT
        K

       

      FORM
        OF TRANSFEROR CERTIFICATE

       

      [date]

       

      Wells
        Fargo Bank, N.A.

      Sixth
        Street and Marquette Avenue

      Minneapolis,
        Minnesota 55479

       

      
        	 	
                Re:
                  

              	
                HarborView
                  Mortgage Loan Trust 2006-7 Mortgage Loan

                Pass-Through
                  Certificates, Series 2006-7, 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 2006-7

      MORTGAGE
        LOAN PASS-THROUGH CERTIFICATES, SERIES 2006-7, 

      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 August 1, 2006, relating to the
                  above-referenced Certificates, among Greenwich Capital Acceptance,
                  Inc.,
                  as Depositor, Greenwich Capital Financial Products, Inc., as Seller,
                  Wells
                  Fargo Bank, N.A., as Master Servicer and Securities Administrator,
                  Clayton
                  Fixed Income Services, Inc., as Credit Risk Manager and Deutsche
                  Bank
                  National Trust Company, as Trustee and Custodian. Capitalized terms
                  used,
                  but not defined herein, shall have the meanings ascribed to such
                  terms in
                  the Agreement. The Transferee has authorized the undersigned to
                  make this
                  affidavit on behalf of the
                  Transferee.

              

      

       

      
        	
                2.

              	
                The
                  Transferee is, as of the date hereof, and will be, as of the date
                  of the
                  Transfer, a Permitted Transferee. The Transferee is acquiring its
                  Ownership Interest for its own account and not in a capacity as
                  trustee,
                  nominee or agent for another party.

              

      

       

      
        	
                3.

              	
                The
                  Transferee has been advised of, and understands that (i) a tax
                  will be
                  imposed on Transfers of the Certificate to Persons that are not
                  Permitted
                  Transferees; (ii) such tax will be imposed on the transferor, or,
                  if such
                  Transfer is through an agent (which includes a broker, nominee
                  or
                  middleman) for a Person that is not a Permitted Transferee, on
                  the agent;
                  and (iii) the Person otherwise liable for the tax shall be relieved
                  of
                  liability for the tax if the subsequent Transferee furnished to
                  such
                  Person an affidavit that such subsequent Transferee is a Permitted
                  Transferee and, at the time of Transfer, such Person does not have
                  actual
                  knowledge that the affidavit is false. The Transferee has provided
                  financial statements or other financial information requested by
                  the
                  Transferor in connection with the transfer of the Certificate to
                  permit
                  the Transferor to assess the financial capability of the Transferee
                  to pay
                  such taxes.

              

      

       

      
        	
                4.

              	
                The
                  Transferee has been advised of, and understands that a tax may
                  be imposed
                  on a “pass-through entity” holding the Certificate if, at any time during
                  the taxable year of the pass-through entity, a Disqualified Organization
                  is the record holder of an interest in such entity. The Transferee
                  understands that such tax will not be imposed for any period with
                  respect
                  to which the record holder furnishes to the pass-through entity
                  an
                  affidavit that such record holder is not a Disqualified Organization
                  and
                  the pass-through entity does not have actual knowledge that such
                  affidavit
                  is false. (For this purpose, a “pass-through entity” includes a regulated
                  investment company, a real estate investment trust or common trust
                  fund, a
                  partnership, trust or estate, and certain cooperatives and, except
                  as may
                  be provided in Treasury Regulations, persons holding interests
                  in
                  pass-through entities as a nominee for another
                  Person.)

              

      

       

      
        
          
          

        

        
          L-1

          
            

          

        

         

      

       

      
        	
                5.

              	
                The
                  Transferee has reviewed the provisions of Section 6.02(e) of the
                  Agreement
                  and understands the legal consequences of the acquisition of an
                  Ownership
                  Interest in the Certificate including, without limitation, the
                  restrictions on subsequent Transfers and the provisions regarding
                  voiding
                  the Transfer and mandatory sales. The Transferee expressly agrees
                  to be
                  bound by and to abide by the provisions of Section 6.02(e) of the
                  Agreement and the restrictions noted on the face of the Certificate.
                  The
                  Transferee understands and agrees that any breach of any of the
                  representations included herein shall render the Transfer to the
                  Transferee contemplated hereby null and
                  void.

              

      

       

      
        	
                6.

              	
                The
                  Transferee agrees to require a Transfer Affidavit from any Person
                  to whom
                  the Transferee attempts to Transfer its Ownership Interest in the
                  Certificate, and the Transferee will not Transfer its Ownership
                  Interest
                  or cause any Ownership Interest to be Transferred to any Person
                  that the
                  Transferee knows is not a Permitted Transferee. In connection with
                  any
                  such Transfer by the Transferee, the Transferee agrees to deliver
                  to the
                  Trustee a certificate substantially in the form set forth as Exhibit
                  K to
                  the Agreement (a “Transferor
                  Certificate”).

              

      

       

      
        	
                7.

              	
                The
                  Transferee does not have the intention to impede the assessment
                  or
                  collection of any tax legally required to be paid with respect
                  to the
                  Certificate.

              

      

       

      
        	8.	
                The
                  Transferee’s taxpayer identification number is             .

              

      

       

      
        	
                9.

              	
                The
                  Transferee is aware that the Certificate may be a “noneconomic residual
                  interest” within the meaning of the REMIC provisions and that the
                  transferor of a noneconomic residual interest will remain liable
                  for any
                  taxes due with respect to the income on such residual interest,
                  unless no
                  significant purpose of the transfer was to impede the assessment
                  or
                  collection of tax.

              

      

       

      
        
          
          

        

        
          L-2

          
            

          

        

         

      

      IN
        WITNESS WHEREOF, the Transferee has caused this instrument to be executed
        on its
        behalf, pursuant to authority of its Board of Directors, by its duly authorized
        officer and its corporate seal to be hereunto affixed, duly attested, this
            
        day
        of
                  ,
        20  .

       

      
        	 	 	 
	 	[NAME
                OF
                TRANSFEREE]
	 
 	 
 	 
 
	 	By:  	 
	 	
                

                Name:

                Title:

              

      

      
      

      [Corporate
        Seal]

       

      ATTEST:

       

                                
        

      [Assistant]
        Secretary

       

      Personally
        appeared before me the above-named             
         ,
        known
        or proved to me to be the same person who executed the foregoing instrument
        and
        to be the                     
        of the
        Transferee, and acknowledged that he executed the same as his free act and
        deed
        and the free act and deed of the Transferee.

       

      Subscribed
        and sworn before me this     
        day
        of
        
        ,
        20  .

       

      
        	 	 	 
	
                 

                 

              	
                
                  

                

                NOTARY
                  PUBLIC

              
	 
 	
  

                My
                  Commission expires the     
                  day of                 ,
                  20  .

              

      

      
        
          
          

        

        
          L-3

          
            

          

        

         

      

       

      EXHIBIT
        M

       

      YIELD
        MAINTENANCE ALLOCATION AGREEMENT

      
        
          
          

        

        
          M-1

          
            

          

        

         

      

      
        

          EXECUTION

           

          YIELD
            MAINTENANCE ALLOCATION AGREEMENT

           

          This
            Yield Maintenance Allocation Agreement, dated as of August 15, 2006 (this
            “Agreement”), among Wells Fargo Bank, N.A. (“Wells Fargo”), not in its
            individual capacity, but solely in its capacity as administrator for
            the yield
            maintenance trust (in such capacity, the “Administrator”) and as securities
            administrator under the Pooling and Servicing Agreement, as hereinafter
            defined
            (in such capacity, the “Securities Administrator”) and Greenwich
            Capital Financial Products, Inc. (“GCFP”).

           

          WHEREAS,
            the Administrator, on behalf of a separate trust established hereunder
            will
            enter into a Yield Maintenance Agreement (the “Yield Maintenance Agreement”), a
            copy of which is attached hereto as Exhibit A, between the Administrator
            and
            HSBC Bank USA, National Association (the “Yield Maintenance Provider”), the
            counterparty to the Yield Maintenance Agreement;
            and

           

          WHEREAS,
            it is desirable to irrevocably appoint the Administrator, and the Administrator
            desires to accept such appointment, to receive and distribute funds payable
            by
            the Yield Maintenance Provider to the Administrator under the Yield Maintenance
            Agreement as provided herein; 

           

          NOW,
            THEREFORE, in consideration of the mutual covenants contained herein,
            and for
            other good and valuable consideration, the receipt and adequacy of which
            are
            hereby acknowledged, the parties agree as follows: 

           

          1. Definitions.
            Capitalized terms used but not otherwise defined herein shall have the
            respective meanings assigned thereto in the Pooling and Servicing Agreement
            dated as of August 1, 2006 (the “Pooling and Servicing Agreement”), among
            Greenwich Capital Acceptance, Inc., as depositor, GCFP, as seller, the
            Wells
            Fargo, as master servicer and securities administrator, Clayton Fixed
            Income
            Services, Inc., as credit risk manager, and Deutsche Bank National Trust
            Company, as trustee and custodian, relating to the HarborView Mortgage
            Loan
            Trust 2006-7 (the “Trust”), Asset-Backed Certificates, Series 2006-7 (the
“Certificates”), or in the related Indenture as the case may be, as in effect on
            the date hereof. 

           

          2. Yield
            Maintenance Trust.
            There
            is hereby established a separate trust (the “Yield Maintenance Trust”), into
            which the Administrator shall deposit the Yield Maintenance Agreement.
            The Yield
            Maintenance Trust shall be maintained by the Administrator. The sole
            assets of
            the Yield Maintenance Trust shall be the Yield Maintenance Agreement
            and the
            Yield Maintenance Trust Account.

           

          3. Administrator.
            

           

          (a) The
            Administrator is hereby irrevocably appointed to receive all funds paid
            to the
            Administrator by the Yield Maintenance Provider, or its successors in
            interest
            under the Yield Maintenance Agreement (including any termination payments
            under
            the Yield Maintenance Agreement) and the Administrator accepts such appointment
            and hereby agrees to receive such amounts, deposit such amounts into
            the Yield
            Maintenance Trust Account and to distribute on each Distribution Date
            such
            amounts in the following order of priority:

          
            
              
              

            

            
              
              

              
                

              

            

             

          

           

          (i) first,
            for deposit into the Yield Maintenance Account (established under the
            Pooling
            and Servicing Agreement), an amount equal to the sum of the following
            amounts
            remaining outstanding after distribution of the Net Monthly Excess Cashflow:
            (A)
            an amount necessary to maintain or restore the Overcollateralization
            Target
            Amount for the related Distribution Date; (B) any Allocated Realized
            Loss
            Amounts remaining unpaid; (C) any Unpaid Interest Shortfall Amounts;
            and (D) any
            Basis Risk Shortfalls;

           

          (ii) second,
            to GCFP (as majority holder of the Class C Certificates) or its designee,
            any
            amounts remaining after payment of (i) above, provided,
            however,
            upon the
            issuance of notes by an issuer (the “Issuer”), secured by all or a portion of
            the Class C Certificates and the Class P Certificates (the “NIM Notes”), GCFP,
            as majority holder of the Class C Certificates, or its designee, hereby
            instructs the Administrator to make any payments under this clause
            3(a)(ii):

           

          (A) to
            the
            Indenture Trustee for the Issuer, for deposit into the Note Account (each
            as
            defined in the related Indenture), for distribution in accordance with
            the terms
            of the Indenture until satisfaction and discharge of the Indenture;
            and

           

          (B) after
            satisfaction and discharge of the Indenture, to the Holders of the Class
            C
            Certificates, pro
            rata
            based on
            the outstanding Notional Amount of each such Certificate.

           

          (b) The
            Administrator agrees to hold any amounts received from the Yield Maintenance
            Provider in trust upon the terms and conditions and for the exclusive
            use and
            benefit of the Securities Administrator and the Indenture Trustee, as
            applicable
            (in turn for the benefit of the Certificateholders, the Noteholders,
            GCFP and
            the NIMS Insurer, if any) as set forth herein. The rights, duties and
            liabilities of the Administrator in respect of this Agreement shall be
            as
            follows:

           

          (i) The
            Administrator shall have the full power and authority to do all things
            not
            inconsistent with the provisions of this Agreement that may be deemed
            advisable
            in order to enforce the provisions hereof. The Administrator shall not
            be
            answerable or accountable except for its own bad faith, willful misconduct
            or
            negligence. The Administrator shall not be required to take any action
            to
            exercise or enforce any of its rights or powers hereunder which, in the
            opinion
            of the Administrator, shall be likely to involve expense or liability
            to the
            Administrator, unless the Administrator shall have received an agreement
            satisfactory to it in its sole discretion to indemnify it against such
            liability
            and expense.

           

          (ii) The
            Administrator shall not be liable with respect to any action taken or
            omitted to
            be taken by it in good faith in accordance with the direction of any
            party
            hereto or the NIMS Insurer, if any, or otherwise as provided herein,
            relating to
            the time, method and place of conducting any proceeding for any remedy
            available
            to the Administrator or exercising any right or power conferred upon
            the
            Administrator under this Agreement.

          
            
              
              

            

            
              2

              
                

              

            

             

          

           

          (iii) The
            Administrator may perform any duties hereunder either directly or by
            or through
            agents or attorneys of the Administrator. The Administrator shall not
            be liable
            for the acts or omissions of its agents or attorneys so long as the
            Administrator chose such Persons with due care.

           

          4. Yield
            Maintenance Trust Account.
            The
            Administrator shall segregate and hold all funds received from the Yield
            Maintenance Trust (including any termination payments under the Yield
            Maintenance Agreement) separate and apart from any of its own funds and
            general
            assets and shall establish and maintain in the name of the Administrator
            one or
            more segregated accounts (the “Yield Maintenance Trust Account”). The Yield
            Maintenance Trust Account shall be an Eligible Account, and funds on
            deposit
            therein shall be held separate and apart from, and shall not be commingled
            with,
            any other moneys of the Administrator. Amounts on deposit in the Yield
            Maintenance Trust Account shall not be invested and shall not be held
            in an
            interest-bearing account.

           

          
            
              5.
                Replacement
                Yield Maintenance Agreements.
                

            

          

           

          The
            Administrator shall, at the direction of the NIMS Insurer, if any, or,
            with the
            consent of the NIMS Insurer, if any, at the direction of GCFP (as majority
            holder of the Class C Certificates) or its designee, enforce all of its
            rights
            and exercise any remedies under the Yield Maintenance Agreement. In the
            event
            the Yield Maintenance Agreement is terminated as a result of the designation
            by
            either party thereto of an Early Termination Date (as defined therein),
            GCFP (as
            majority holder of the Class C Certificates) or its designee, shall find
            a
            replacement counterparty to enter into a replacement Yield Maintenance
            Agreement.

           

          Any
            termination payment received by the Administrator from the Yield Maintenance
            Provider shall be deposited into a separate, non-interest bearing account,
            established by the Administrator and shall be used to make any upfront
            payment
            required under a replacement Yield Maintenance Agreement and any upfront
            payment
            received from the counterparty to a replacement Yield Maintenance Agreement
            shall be used to pay any termination payments owed to the Yield Maintenance
            Provider.

           

          Notwithstanding
            anything contained herein, in the event that a replacement Yield Maintenance
            Agreement cannot be obtained within 30 days after receipt by the Administrator
            of the termination payment paid by the terminated Yield Maintenance Provider,
            the Administrator shall deposit such termination payment into a separate,
            non-interest bearing account, established by the Administrator and the
            Administrator shall, on each Distribution Date, withdraw from such account,
            an
            amount equal to the Yield Maintenance Agreement Payment, if any, that
            would have
            been paid to the Trust by the original Yield Maintenance Provider (computed
            in
            accordance with Exhibit A) and distribute such amount in accordance with
            Section
            2(a) of this Agreement. On the Distribution Date immediately after the
            termination date of the original Yield Maintenance Agreement, the Administrator
            shall withdraw any funds remaining in such account and distribute such
            amount in
            accordance with Section 2(a)(ii) of this Agreement.

           

          6. Representations
            and Warranties of Wells Fargo.
            Wells
            Fargo represents and warrants as follows:

          
            
              
              

            

            
              3

              
                

              

            

             

          

           

          (a) Wells
            Fargo is duly organized and validly existing as a national banking association
            under the laws of the United States and has all requisite power and authority
            to
            execute and deliver this Agreement, to perform its obligations as Administrator
            hereunder. 

           

          (b) The
            execution, delivery and performance of this Agreement by Wells Fargo
            as
            Administrator and Securities Administrator have been duly authorized
            in the
            Pooling and Servicing Agreement.

           

          (c) This
            Agreement has been duly executed and delivered by Wells Fargo as Administrator
            and Securities Administrator and is enforceable against Wells Fargo in
            such
            capacities in accordance with its terms, except as enforceability may
            be
            affected by bankruptcy, insolvency, fraudulent conveyance, reorganization,
            moratorium and other similar laws relating to or affecting creditors’ rights
            generally, general equitable principles (whether considered in a proceeding
            in
            equity or at law).

           

          
            
              7.
                Resignation
                or Removal of Administrator.

            

          

           

          The
            Administrator may at any time resign and be discharged from its duties
            and
            obligations under this Agreement and the Yield Maintenance Agreement
            in the
            manner and subject to the limitations set forth in Section 8.20 of the
            Pooling
            and Servicing Agreement. 

           

          Notwithstanding
            anything to the contrary contained herein, in the event that either the
            Master
            Servicer or the Securities Administrator resigns or is removed as Master
            Servicer or Securities Administrator pursuant to the Pooling and Servicing
            Agreement, the Administrator shall have the right to resign immediately
            as
            Administrator by giving written notice to GCFP, the Depositor and the
            Trustee,
            with a copy to each Rating Agency, the Certificate Insurer and any NIMS
            Insurer.

           

          
            
              8.
                Administrator
                Obligations.

            

          

           

          Whenever
            the Administrator, as a party to the Yield Maintenance Agreement, has
            the option
            or is requested in such capacity, whether such request is by the Yield
            Maintenance Provider, to take any action or to give any consent, approval
            or
            waiver that it is on behalf of the Yield Maintenance Trust entitled to
            take or
            give in such capacity, including, without limitation, in connection with
            an
            amendment of such agreement or the occurrence of a default or termination
            event
            thereunder, the Administrator shall promptly notify the parties hereto
            and the
            NIMS Insurer, if any, of such request in such detail as is available
            to it and,
            shall, on behalf of the parties hereto and the NIMS Insurer, if any,
            take such
            action in connection with the exercise and/or enforcement of any rights
            and/or
            remedies available to it in such capacity with respect to such request
            as GCFP
            (as majority holder of the Class C Certificates) or its designee, or
            the NIMS
            Insurer, if any, shall direct in writing; provided that if no such direction
            is
            received prior to the date that is established for taking such action
            or giving
            such consent, approval or waiver (notice of which date shall be given
            by the
            Administrator to the parties hereto and the NIMS Insurer, if any), the
            Administrator may abstain from taking such action or giving such consent,
            approval or waiver.

           

          The
            Administrator shall forward to the parties hereto and the NIMS Insurer,
            if any,
            on the Distribution Date following its receipt thereof copies of any
            and all
            written notices, statements, reports and/or other material communications
            and
            information (collectively, the “Yield Maintenance Reports”) that it receives in
            connection with the Yield Maintenance Agreement or from the counterparty
            thereto.

          
            
              
              

            

            
              4

              
                

              

            

             

          

           

          The
            Administrator shall have no information or other tax reporting obligations
            with
            respect to the Yield Maintenance Trust or the Yield Maintenance Trust
            Account.

           

          
            
              9.
                Miscellaneous.
                

            

          

           

          (a) This
            Agreement shall be governed by and construed in accordance with the laws
            of the
            State of New York.

           

          (b) Any
            action or proceeding against any of the parties hereto relating in any
            way to
            this Agreement may be brought and enforced in the courts of the State
            of New
            York sitting in the borough of Manhattan or of the United States District
            Court
            for the Southern District of New York and the Administrator irrevocably
            submits
            to the jurisdiction of each such court in respect of any such action
            or
            proceeding. The Administrator waives, to the fullest extent permitted
            by law,
            any right to remove any such action or proceeding by reason of improper
            venue or
            inconvenient forum.

           

          (c) This
            Agreement may be amended, supplemented or modified in writing by the
            parties
            hereto, but only with the consent of GCFP and the NIMS Insurer, if
            any.

           

          (d) This
            Agreement may not be assigned or transferred without the prior written
            consent
            of GCFP and the NIMS Insurer, if any; provided, however, the parties
            hereto
            acknowledge and agree to the assignment of the rights of GCFP (as majority
            holder of the Class C Certificates) or its designee, pursuant to the
            Sale
            Agreement, the Trust Agreement and the Indenture.

           

          (e) This
            Agreement may be executed by one or more of the parties to this Agreement
            on any
            number of separate counterparts (including by facsimile transmission),
            and all
            such counterparts taken together shall be deemed to constitute one and
            the same
            instrument.

           

          (f) Any
            provision of this Agreement which is prohibited or unenforceable in any
            jurisdiction shall, as to such jurisdiction, be ineffective to the extent
            of
            such prohibition or unenforceability without invalidating the remaining
            provisions hereof, and any such prohibition or unenforceability in any
            jurisdiction shall not invalidate or render unenforceable such provision
            in any
            other jurisdiction.

           

          (g) The
            representations and warranties made by the parties to this Agreement
            shall
            survive the execution and delivery of this Agreement. No act or omission
            on the
            part of any party hereto shall constitute a waiver of any such representation
            or
            warranty.

           

          (h) The
            article and section headings herein are for convenience of reference
            only, and
            shall not limit or otherwise affect the meaning hereof.

          
            
              
              

            

            
              5

              
                

              

            

             

          

           

          (i) The
            representations and warranties made by the parties to this Agreement
            shall
            survive the execution and delivery of this Agreement. No act or omission
            on the
            part of any party hereto shall constitute a waiver of any such representation
            or
            warranty.

           

          10. Third-Party
            Beneficiary. Each
            of
            the Trustee, GCFP (as majority holder of the Class C Certificates) or
            its
            designee and the Indenture Trustee, if any,
            shall be
            deemed a third-party beneficiary of this Agreement to the same extent
            as if it
            were a party hereto, and shall have the right to enforce the provisions
            of this
            Agreement. If any default occurs on the part of the Yield Maintenance
            Provider
            under the Yield Maintenance Agreement in the making of a payment due
            under the
            Yield Maintenance Agreement or in any other obligation of the Yield Maintenance
            Provider under the Yield Maintenance Agreement, the Administrator may
            and, upon
            the request of the Trustee, GCFP (as majority holder of the Class C
            Certificates) or its designee or the Indenture Trustee, shall take such
            action
            as may be appropriate to enforce such payment or performance, including
            the
            institution and prosecution of appropriate proceedings.

           

          11. Administrator
            and Securities Administrator Rights.
            In
            connection with its execution and delivery of this Agreement and the
            Yield
            Maintenance Agreement and its performance of its duties and obligations
            hereunder and thereunder, the Administrator shall be entitled to the
            same
            rights, protections and indemnities afforded to the Securities Administrator
            under the Pooling and Servicing Agreement, and the Indenture Trustee
            under the
            Indenture, in each case, as if specifically set forth herein with respect
            to the
            Administrator.

           

          In
            connection with its execution and delivery of this Agreement and its
            performance
            of its duties and obligations hereunder, the Securities Administrator
            shall be
            entitled to the same rights, protections and indemnities afforded to
            the
            Securities Administrator under the Pooling and Servicing Agreement as
            if
            specifically set forth herein with respect to the Securities
            Administrator.

           

          12. Limited
            Recourse.
            It is
            expressly understood and agreed by the parties hereto that this Agreement
            is
            executed and delivered by the Administrator, not in its individual capacity,
            but
            solely as Administrator under the Pooling and Servicing Agreement.
            Notwithstanding any other provisions of this Agreement, the obligations
            of the
            Administrator under this Agreement are non-recourse to the Administrator,
            its
            assets and its property, and shall be payable solely from the assets
            of the
            Trust, and following realization of such assets, any claims of any party
            hereto
            shall be extinguished and shall not thereafter be reinstated. No recourse
            shall
            be had against any principal, director, officer, employee, beneficiary,
            shareholder, partner, member, agent or affiliate of the Administrator
            or any
            person owning, directly or indirectly, any legal or beneficial interest
            in the
            Administrator, or any successors or assigns of any of the foregoing (the
            “Exculpated Parties”) for the payment of any amount payable under this
            Agreement. The parties hereto shall not enforce the liability and obligations
            of
            the Administrator to perform and observe the obligations contained in
            this
            Agreement by any action or proceeding wherein a money judgment establishing
            any
            personal liability shall be sought against the Administrator, subject
            to the
            following sentence, or the Exculpated Parties. The agreements in this
            paragraph
            shall survive termination of this Agreement and the performance of all
            obligations hereunder.

          
            
              
              

            

            
              6

              
                

              

            

             

          

          IN
            WITNESS WHEREOF, the parties have caused this Agreement to be duly executed
            and
            delivered as of the day and year first above written. 

           

          
            	 	 	 
	 	
                    WELLS
                      FARGO BANK, N.A.

                    not
                      in its individual capacity, but solely as 

                    Administrator
                      under this Agreement

                  
	 
 	 
 	 
 
	 	By:  	 
	 	
                    

                    Name: 

                    Title:

                  

          

           

          
            	 	 	 
	 	
                    WELLS
                      FARGO BANK, N.A.

                    
                      not
                        in its individual capacity, but solely as Securities

                      Administrator
                        under the Pooling and Servicing

                      Agreement

                    

                  
	 
 	 
 	 
 
	 	By:  	 
	 	
                    

                    
                      
                        Name: 

                        Title:

                      

                    

                  

          

           

            	 	 	 
	 	
                    GREENWICH
                      CAPITAL FINANCIAL PRODUCTS, 

                    INC.,
                      as majority holder of the Class C Certificates

                  
	 
 	 
 	 
 
	 	By:  	 
	 	
                    
                      

                    

                    
                      Name: 

                      Title:

                    

                  

          

           

          
            
              
              

            

            
              7

              
                

              

            

             

          

          

          EXHIBIT
            A

           

          YIELD
            MAINTENANCE AGREEMENT

           

          SEE
            EXHIBIT P TO THE POOLING AND SERVICING AGREEMENT

           

          
            
              
              

            

            
              8

              
                

              

            

            
              
              

            

          

        

      

      
 

      EXHIBIT
        N

       

      LIST
        OF SERVICERS AND SERVICING AGREEMENTS

       

      
        	1.  	
                Master
                  Mortgage Loan Purchase and Servicing Agreement, dated as of May
                  1, 2006,
                  between Greenwich Capital Financial Products, Inc. (“GCFP”), American Home
                  Mortgage Corp. (“American Home”) and American Home Mortgage Servicing,
                  Inc. (“American Home Servicing”), as reconstituted by that certain
                  Reconstituted Servicing Agreement dated as of August 1, 2006, by
                  and among
                  American Home, American Home Servicing, Greenwich Capital Acceptance,
                  Inc., GCFP and Wells Fargo Bank, N.A., as master servicer and securities
                  administrator, and acknowledged by Deutsche Bank National Trust
                  Company,
                  as trustee.

              

      

       

      
        
          
          

        

        
          N-1

          
            

          

        

        
          
          

        

      

       

      EXHIBIT
        O

       

      TRANSACTION
        PARTIES

      

        
          	
                  Certificate
                    Insurer

                	 	
                  Ambac
                    Assurance Corporation

                
	
                  Credit
                    Risk Manager

                	 	
                  Clayton
                    Fixed Income Services Inc.

                
	
                  Custodian

                	 	
                  Deutsche
                    Bank National Trust Company

                
	
                  Master
                    Servicer

                	 	
                  Wells
                    Fargo Bank, N.A.

                
	
                  Originator

                	 	
                  American
                    Home Mortgage Corp.

                
	
                  PMI
                    Insurer

                	 	
                  Mortgage
                    Guaranty Insurance Corporation

                
	
                  Securities
                    Administrator

                	 	
                  Wells
                    Fargo Bank, N.A.

                
	
                  Seller

                	 	
                  Greenwich
                    Capital Financial Products, Inc.

                
	
                  Servicer

                	 	
                  American
                    Home Mortgage Servicing, Inc.

                
	
                  Subservicer

                	 	
                  N/A

                
	
                  Trustee

                	 	
                  Deutsche
                    Bank National Trust Company

                
	
                  Yield
                    Maintenance Provider

                	 	
                  HSBC
                    Bank USA, National
                    Association

                

        

      

      
        
          
          

        

        
          O-1

          
            

          

        

         

      

       

      EXHIBIT
        P

       

      YIELD
        MAINTENANCE AGREEMENT 

       

      
        
          
          

        

        
          P-1

          
            

          

        

         

      

      

        HSBC
          Bank
          USA, National Association  

        452
          Fifth
          Avenue

        New
          York,
          NY
          10018

        Fax:
          (212)
          525-0673

        

        July
          24,
          2006

        

        HarborView
          Mortgage Loan Trust 2006-7

        c/o
          Wells
          Fargo Bank, N.A.,

        as
          Yield
          Maintenance Administrator with respect to the Yield

        Maintenance
          Trust relating to the HarborView Mortgage

        Loan
          Trust Mortgage Pass-Through Certificates, Series 2006-7

        9062
          Old
          Annapolis Road

        Columbia,
          MD 21045

        Attn:
          HarborView Mortgage Loan Trust 2006-7

        

        Tel:
          410-884-2000

        Fax:
          410-715-2380

        

        Subject: Interest
          Rate Cap

        

        Transaction
          Reference Number: 403390HN/403391HN

        
          
            

          

        

        The
          purpose of this letter agreement (this “Confirmation”) is to confirm the terms
          and conditions of the Transaction entered into between us on the Trade
          Date
          specified below, and subsequently amended as set out below (the
          “Transaction”) between HSBC Bank USA, N.A. (“HSBC”) and Wells Fargo Bank, N.A..
          This Confirmation constitutes a “Confirmation” as referred to in the ISDA Form
          Master Agreement (as defined below), as well as a “Schedule” as referred to in
          the ISDA Form Master Agreement. In this Confirmation “Party A” means HSBC and
“Party B” means Wells Fargo Bank, N.A., not in its individual capacity, but
          solely as Yield Maintenance Administrator with respect to the Yield Maintenance
          Trust relating to the HarborView Mortgage Loan Trust Mortgage Loan Pass-Through
          Certificates, Series 2006-7. 

        

        
          	
                  1.

                	
                  This
                    Agreement is subject to and incorporates the 2000 ISDA Definitions
                    (the
                    “Definitions”), as published by the International Swaps and Derivatives
                    Association, Inc. (“ISDA”). You and we have agreed to enter into this
                    Agreement in lieu of negotiating a Schedule to the 1992 ISDA
                    Master
                    Agreement (Multicurrency—Cross Border) form (the
                    “ISDA Form Master Agreement”) but, rather, an ISDA Form Master Agreement
                    shall be deemed to have been executed by you and us on the date
                    we entered
                    into the Transaction. In the event of any inconsistency between
                    the
                    provisions of this Agreement and the Definitions or the ISDA
                    Form Master
                    Agreement, this Agreement shall prevail for purposes of the Transaction.
                    Terms used and not otherwise defined herein, in the ISDA Form
                    Master Agreement
                    or the Definitions shall have the meanings assigned to them in
                    the Pooling
                    and Servicing Agreement (the “Pooling and Servicing Agreement”), dated as
                    of August 1, 2006, among Greenwich Capital Acceptance, Inc.,
                    as depositor,
                    Greenwich Capital Financial Products Inc., as seller, Wells Fargo
                    Bank,
                    N.A., as master servicer and securities administrator, Clayton
                    Fixed
                    Income Services Inc., as credit risk manager, and Deutsche Bank
                    National
                    Trust Company, as trustee and as a custodian identified herein.
                    Each
                    reference to a “Section” or to a “Section” “of this Agreement” will be
                    construed as a reference to a Section of the 1992 ISDA Form Master
                    Agreement.

                

        

         

         

        
          
            
            

          

          
            
            

            
              

            

          

          
            
            

          

        

        
          HSBC
            Bank
            USA, National Association

        

         

        Each
          of
          Party A and Party B represents to the other that it has entered into this
          Transaction in reliance upon such tax, accounting, regulatory, legal, and
          financial advice as it deems necessary and not upon any view expressed
          by the
          other and, in the case of Party B, it has entered into this transaction
          pursuant
          to the direction received by it pursuant to the Pooling and Servicing
          Agreement.

        

        
          	
                  2.

                	
                  The
                    terms of the particular Transaction to which this Confirmation
                    relates are
                    as follows:

                

        

        

        
          	 	
                  Notional
                    Amount:

                	
                  The
                    amount as set forth in Exhibit I, which is attached hereto and
                    incorporated by reference into this Confirmation

                
	 	 	 
	 	
                  Trade
                    Date:

                	
                  July
                    21, 2006

                
	 	 	 
	 	
                  Effective
                    Date:

                	
                  August
                    19, 2008

                
	 	 	 
	 	
                  Termination
                    Date:

                	
                  August
                    19, 2012, subject to adjustment in accordance with the Following
                    Business
                    Day Convention.

                
	 	 	 
	 	
                  Fixed
                    Amounts:

                	 
	 	 	 
	 	
                  Fixed
                    Amount Payer:

                	
                  Party
                    B

                
	 	 	 
	 	
                  Fixed
                    Amount:

                	
                  USD
                    2,285,000.00

                
	 	 	 
	 	
                  Fixed
                    Amount Payer

                	 
	 	
                  Payment
                    Date:

                	
                  August
                    15, 2006, subject to adjustment in accordance with the Following
                    Business
                    Day Convention

                
	 	 	 
	 	 	 
	 	
                  Party
                    A Floating Amounts:

                	 
	 	 	 
	 	
                  Floating
                    Rate Payer

                	 
	 	
                  Period
                    End Dates:

                	
                  The
                    19th calendar day of each month, commencing on September 19,
                    2008 and
                    ending on the Termination Date, inclusive, subject to adjustment
                    in
                    accordance with the Following Business Day Convention

                
	 	 	 
	 	
                  Floating
                    Rate Payer

                	 
	 	
                  Payment
                    Dates:

                	
                  Early
                    Payment - One (1) Business Day preceding each Floating Rate Payer
                    Period
                    End Date.

                
	 	 	 
	 	
                  Party
                    A Cap Rate:

                	
                  As
                    set forth in Exhibit I, which is attached hereto and incorporated
                    by
                    reference into this Confirmation

                
	 	 	 
	 	
                  Floating
                    Rate Option:

                	
                  USD-LIBOR-BBA

                

        

         

        
          
            
            

          

          
            2

            
              

            

          

          
            
            

            HSBC
              Bank
              USA, National Association

             

          

        

         

        
          	 	 	 
	 	
                  Designated
                    Maturity:

                	
                  One
                    month

                
	 	
                   

                	 
	 	
                  Spread:

                	
                  None

                
	 	 	 
	 	
                  Floating
                    Rate

                	 
	 	
                  Day
                    Count Fraction:

                	
                  Actual/360

                
	 	 	 
	 	
                  Reset
                    Dates:

                	
                  The
                    first day of each Calculation Period 

                
	 	 	 
	 	
                   Party
                    B Floating Amounts:

                	 
	 	 	 
	 	
                  Part
                    B

                	 
	 	
                  Period
                    End Dates:

                	
                  The
                    19th
                    calendar day of each month, commencing on September 19, 2008
                    and ending on
                    the Termination Date, inclusive, subject to adjustment in accordance
                    with
                    the Following Business Day Convention

                
	 	 	 
	 	
                  Floating
                    Rate Payer

                	 
	 	
                  Payment
                    Dates:

                	
                  Early
                    Payment - One (1) Business Day preceding each Floating Rate Payer
                    Period
                    End Date

                
	 	 	 
	 	
                  Party
                    B Cap Rate:

                	
                  As
                    set forth in Exhibit I, which is attached hereto and incorporated
                    by
                    reference into this Confirmation

                
	 	 	 
	 	
                  Floating
                    Rate Option:

                	
                  USD-LIBOR-BBA

                
	 	 	 
	 	
                  Designated
                    Maturity:

                	
                  One
                    month

                
	 	 	 
	 	
                  Spread:

                	
                  None

                
	 	 	 
	 	
                  Floating
                    Rate

                	 
	 	
                  Day
                    Count Fraction:

                	
                  Actual/360

                
	 	 	 
	 	
                  Reset
                    Dates:

                	
                  The
                    first day of each Calculation Period

                
	 	
                   

                	 
	 	
                  Business
                    Days:

                	
                  New
                    York

                
	 	 	 
	 	
                  Calculation
                    Agent:

                	
                  Party
                    A

                

        

         

        
          
            
            

          

          
            3

            
              

            

          

          
            
            

          

        

        
          HSBC
            Bank
            USA, National Association

        3. Provisions
          Deemed Incorporated in a Schedule to the ISDA Form Master Agreement:
          

         

        1) The
          parties agree that subparagraph (ii) of Section 2(c) of the ISDA Form Master
          Agreement will apply to any Transaction.

         

        2) Termination
          Provisions.
          For
          purposes of the ISDA Form Master Agreement:

         

        (a) “Specified
          Entity”
          is not
          applicable to Party A or Party B for any purpose.

         

        (b) “Specified
          Transaction”
          is not
          applicable to Party A or Party B for any purpose, and, accordingly, Section
          5(a)(v) shall not apply to Party A or Party B.

         

        (c) The
          “Cross
          Default”
          provisions of Section 5(a)(vi) shall not apply to Party A or Party
          B.

         

        (d) The
          “Credit
          Event Upon Merger”
          provisions of Section 5(b)(iv) will not apply to Party A or Party
          B.

         

        (e) With
          respect to Party B, the “Bankruptcy”
          provision of Section 5(a)(vii)(2) of the ISDA Form Master Agreement shall
          not
          apply.

         

        (f) The
          “Automatic
          Early Termination”
          provision of Section 6(a) will not apply to Party A or to Party B.

         

        (g) Payments
          on Early Termination.
          For the
          purpose of Section 6(e) of the ISDA Form Master Agreement:

         

        (i)  Market
          Quotation will apply.

         

        (ii)  The
          Second Method will apply.

         

        (h) “Termination
          Currency” means United States Dollars.

         

        (i) Events
          of Default.
          The
          provisions of Sections 5(a)(ii), 5(a)(iii) and 5(a)(iv) shall not apply
          to Party
          B. The provisions of Sections 5(a)(ii) and 5(a)(iv) shall not apply to
          Party
          A.

         

        (j) Tax
          Event.
          The
          provisions of Section 2(d)(i)(4) and 2(d)(ii) of the printed ISDA Form
          Master
          Agreement shall not apply to Party A or Party B and neither Party A nor
          Party B
          shall be required to pay any additional amounts referred to
          therein.

         

        3) Tax
          Representations.

         

        (a) Payer
          Representations.
          For the
          purpose of Section 3(e) of the ISDA Form Master Agreement, Party A and
          Party B
          will make the following representations:

         

        It
          is not
          required by any applicable law, as modified by the practice of any relevant
          governmental revenue authority, of any Relevant Jurisdiction to make any
          deduction or withholding for or on account of any Tax from any payment
          (other
          than interest under Section 2(e), 6(d)(ii) or 6(e) of the ISDA Form Master
          Agreement) to be made by it to the other party under this Agreement. In
          making
          this representation, it may rely on:

        

        
          
            
            

          

          
            4

            
              

            

          

          
            
            

          

        

        
          HSBC
            Bank
            USA, National Association

        

         

        (i)  the
          accuracy of any representations made by the other party pursuant to Section
          3(f)
          of the ISDA Form Master Agreement;

         

        (ii)  the
          satisfaction of the agreement contained in Section 4(a)(iii) of the ISDA
          Form
          Master Agreement and the accuracy and effectiveness of any document provided
          by
          the other party pursuant to Section 4(a)(iii) of the ISDA Form Master Agreement;
          and

         

        (iii)  the
          satisfaction of the agreement of the other party contained in Section 4(d)
          of
          the ISDA Form Master Agreement, provided that it shall not be a breach
          of this
          representation where reliance is placed on clause (ii) and the other party
          does
          not deliver a form or document under Section 4(a)(iii) by reason of material
          prejudice to its legal or commercial position.

         

        (b) Payee
          Representations.
          For the
          purpose of Section 3(f) of the ISDA Form Master Agreement, each of Party
          A and
          Party B make the following representations.

         

        The
          following representation will apply to Party B:

         

        Party
          B
          is a national banking association organized under the federal laws of the
          United
          States. The U.S. taxpayer identification number for the Yield Maintenance
          Trust
          related to the HarborView Mortgage Loan Pass-Through Certificates, Series
          2006-7
          will be applied for.

         

        The
          following representation will apply to Party A:

         

        Party
          A
          is a “non-U.S. branch of a foreign person” as that term is used in section
          1.441-4(a)(3)(ii) of the United States Treasury Regulations (the “Regulations”)
          for United States federal income tax purposes, and Party B is a “foreign person”
as that term is used in section 1.6041-4(a)(4) of the Regulations for United
          States federal income tax purposes.

         

        4)  Limitation
          on Events of Default.
          Notwithstanding the terms of Sections 5 and 6 of the ISDA Form Master Agreement,
          if at any time and so long as Party B has satisfied in full all its payment
          obligations under Section 2(a)(i) of the ISDA Form Master Agreement and
          has at
          the time no future payment obligations, whether absolute or contingent,
          under
          such Section, then unless Party A is required pursuant to appropriate
          proceedings to return to Party B or otherwise returns to Party B upon demand
          of
          Party B any portion of any such payment, (a) the occurrence of an event
          described in Section 5(a) of the ISDA Form Master Agreement with respect
          to
          Party B shall not constitute an Event of Default or Potential Event of
          Default
          with respect to Party B as Defaulting Party and (b) Party A shall be entitled
          to
          designate an Early Termination Date pursuant to Section 6 of the ISDA Form
          Master Agreement only as a result of the occurrence of a Termination Event
          set
          forth in either Section 5(b)(i) with respect to either Party A or Party
          B as the
          Affected Party.

         

        

        
          
            
            

          

          
            5

            
              

            

          

          
            
            

          

        

        
          HSBC
            Bank
            USA, National Association

        

        

        5) Documents
          to be Delivered.
          For the
          purpose of Section 4(a)(i) and 4(a)(iii): 

         

        (1) 
          Tax
          forms, documents, or certificates to be delivered are:

         

        
          	
                  Party
                    required to deliver document

                	
                  Form/Document/

                  Certificate

                	
                  Date
                    by which to Be delivered

                
	
                  Party
                    A and 

                  Party
                    B

                	
                  Any
                    document required or reasonably requested to allow the other
                    party to make
                    payments under this Agreement without any deduction or withholding
                    for or
                    on the account of any Tax or with such deduction or withholding
                    at a
                    reduced rate.

                	
                  Promptly
                    after the earlier of (i) reasonable demand by either party or
                    (ii)
                    learning that such form or document is
                    required.

                

        

        

        (2) 
          Other
          documents to be delivered are:

         

        
          	
                  Party
                    required to deliver document

                	
                  Form/Document/

                  Certificate

                	
                  Date
                    by which to Be delivered

                	
                  Covered
                    by Section 3(d) Representation

                
	
                  Party
                    A and Party B

                	
                  Any
                    documents to evidence the authority of the delivering party for
                    it to
                    execute and deliver this Confirmation.

                	
                  Upon
                    the execution and delivery of this Agreement and such
                    Confirmation.

                	
                  Yes

                
	
                  Party
                    A and Party B

                	
                  A
                    certificate of an authorized officer of the party, as to the
                    incumbency
                    and authority of the respective officers of the party signing
                    this
                    Confirmation.

                	
                  Upon
                    the execution and delivery of this Confirmation.

                	
                  Yes

                
	
                  Party
                    A

                	
                  Legal
                    opinion(s) with respect to such party and its Credit Support
                    Provider, if
                    any, for it, reasonably satisfactory in form and substance to
                    the other
                    party relating to the enforceability of the party’s obligations under this
                    Agreement.

                	
                  Upon
                    the execution and delivery of this Agreement.

                	
                  No

                

        

         

         

        
          
            
            

          

          
            6

            
              

            

          

          
            
            

          

        

        
          HSBC
            Bank
            USA, National Association

           

           

        

        
          	
                  Party
                    required to deliver document

                	
                  Form/Document/

                  Certificate

                	
                  Date
                    by which to Be delivered

                	
                  Covered
                    by Section 3(d) Representation

                
	
                  Party
                    A

                	
                  Indemnification
                    agreement executed by each of Party A, Greenwich Capital Acceptance,
                    Inc.,
                    Greenwich Capital Markets, Inc., and Greenwich Capital Financial
                    Products,
                    Inc. with respect to information included in any preliminary
                    prospectus
                    supplement and the prospectus supplement related to the Class
                    A
                    Certificates and Class B Certificates.

                	
                  Concurrently
                    with the printing of any preliminary prospectus supplement and
                    the
                    prospectus supplement related to the Class A and Class B
                    Certificates.

                	
                  No

                
	
                  Party
                    A

                	
                  A
                    copy of the most recent annual report of such party (only if
                    available)
                    and its Credit Support Provider, if any, containing in all cases
                    audited
                    consolidated financial statements for each fiscal year certified
                    by
                    independent certified public accountants and prepared in accordance
                    with
                    generally accepted accounting principles in the United States
                    or in the
                    country in which such party is organized.

                	
                  Promptly
                    after request by the other party.

                	
                  Yes

                
	
                  Party
                    B

                	
                  Each
                    other report or other document required to be delivered by or
                    to Party B
                    under the terms of the Pooling and Servicing Agreement, other
                    than those
                    required to be delivered directly by the Yield Maintenance Administrator
                    to Party A thereunder.

                	
                  Promptly
                    upon request by Party A, or with respect to any particular type
                    of report
                    or other document as to which Party A has previously made request
                    to
                    receive all reports or documents of that type, promptly upon
                    delivery or
                    receipt of such report or document by Party B.

                	
                  Yes

                

        

         

        
          
            
            

          

          
            7

            
              

            

          

          
            
            

          

        

        HSBC
          Bank
          USA, National Association

         

        6) Other
          Provisions.

         

        (a) Address
          for Notices:
          For the
          purposes of Section 12(a) of this Agreement: 

         

        Address
          for notices or communications to Party A:

         

        
          	
                  Address:

                	
                  452
                    Fifth Avenue, New York, NY 10018

                
	
                  Attention:

                	
                  Christian
                    McGreevy

                
	
                  Facsimile:

                	
                  212-525-8710

                
	
                  Telephone:
                    

                	212-525-5517

        

         

        Please
          direct all settlement inquiries to:

        

        HSBC
          Bank
          USA, National Association

        Derivative
          Settlements

        
          	
                  Attention:

                	
                  Jeffrey
                    Lombino

                
	
                  Telephone:

                	
                  (212)
                    525-5393

                
	
                  Fax:

                	
                  (212)
                    525-6903

                

        

        

        Address
          for notices or communications to Party B:

         

        
           

          
            	
                    Address:

                  	
                    
                      HarborView
                        Mortgage Loan Trust 2006-7

                    

                  
	
                     

                  	
                    
                      c/o
                        Wells Fargo Bank, N.A., 

                    

                  
	
                     

                  	
                    as
                      Yield Maintenance Administrator with respect to the
                      Yield

                  
	
                     

                  	
                    Maintenance
                      Trust relating to the HarborView Mortgage

                  
	 	
                    Loan
                      Trust Mortgage Pass-Through Ceritificates, Series
                      2006-7

                  
	 	
                    9062
                      Old Annapolis Road

                  
	 	
                    Columbia,
                      MD 21045

                  
	 	
                    Attn:
                      Yield Maintenance Trust, HarborView Mortgage Loan Trust
                      2006-7

                  

          

        

         

         

        (For
          all
          purposes)

         

        (b) Process
          Agent.
          For the
          purpose of Section 13(c):

         

        Party
          A
          appoints as its Process Agent: Not Applicable

        Party
          B
          appoints as it Process Agent: Not Applicable

        

        (c) Offices.
          The
          provisions of Section 10(a) will not apply to this Agreement; for purposes
          of
          this Transaction, it will be deemed that neither Party A nor Party B have
          any
          Offices other than as set forth in the Notices Section and Party A agrees
          that,
          for purposes of Section 6(b) of the ISDA Form Master Agreement, it shall
          be
          deemed not to have any Office other than one in the United States.

         

        (d) Multibranch
          Party.
          For the
          purpose of Section 10(c) of the ISDA Form Master Agreement:

         

        Party
          A
          is not a Multibranch Party.

         

        Party
          B
          is not a Multibranch Party.

         

        
          
            
            

          

          
            8

            
              

            

          

          
            
            

          

        

        HSBC
          Bank
          USA, National Association

         

        (e) Calculation
          Agent.
          The
          Calculation Agent is Party A.

         

        (f) Credit
          Support Document.
          Initially with respect to Party A, not applicable; however,
          if
          required pursuant to Paragraph 3(6)(q)(iv) hereof, a guaranty satisfactory
          to
          Party B and the Rating Agencies. With respect to Party B, not applicable.
          

         

        (g) Credit
          Support Provider.

         

        Party
          A:
          Not Applicable

         

        Party
          B:
          Not Applicable

         

        (h) Governing
          Law.
          The
          parties to this ISDA Agreement hereby agree that the law of the State of
          New
          York shall govern their rights and duties in whole, without regard to the
          conflict of law provisions thereof other than New York General Obligations
          Law
          Sections 5-1401 and 5-1402.

         

        (i) Non-Petition.
          Party A
          hereby irrevocably and unconditionally agrees that it will not institute
          against, or join any other person in instituting against or cause any other
          person to institute against the Yield Maintenance Trust, any bankruptcy,
          reorganization, arrangement, insolvency, or similar proceeding under the
          laws of
          the United States, or any other jurisdiction for the non-payment of any
          amount
          due hereunder or any other reason until the payment in full of the Certificates
          (as defined in the Pooling and Servicing Agreement) and the expiration
          of a
          period of one year plus ten days (or, if longer, the applicable preference
          period) following such payment.

         

        (j) [Reserved]

         

        (k) Severability.
          If any
          term, provision, covenant, or condition of this Agreement, or the application
          thereof to any party or circumstance, shall be held to be invalid or
          unenforceable (in whole or in part) for any reason, the remaining terms,
          provisions, covenants, and conditions hereof shall continue in full force
          and
          effect and shall remain applicable to all other parties and circumstances
          as if
          this Agreement had been executed with the invalid or unenforceable portion
          eliminated, so long as this Agreement as so modified continues to express,
          without material change, the original intentions of the parties as to the
          subject matter of this Agreement and the deletion of such portion of this
          Agreement will not substantially impair the respective benefits or expectations
          of the parties.

         

        The
          parties shall endeavor to engage in good faith negotiations to replace
          any
          invalid or unenforceable term, provision, covenant or condition with a
          valid or
          enforceable term, provision, covenant or condition, the economic effect
          of which
          comes as close as possible to that of the invalid or unenforceable term,
          provision, covenant or condition.

         

        (l) Consent
          to Recording.
          Each
          party hereto consents to the monitoring or recording, at any time and from
          time
          to time, by the other party of any and all communications between officers
          or
          employees of the parties, waives any further notice of such monitoring
          or
          recording, and agrees to notify its officers and employees of such monitoring
          or
          recording.

         

        (m) Waiver
          of Jury Trial.
          Each
          party to this Agreement respectively waives any right it may have to a
          trial by
          jury in respect of any Proceedings relating to this Agreement, any Credit
          Support Document or any of the transactions contemplated hereby.

         

        
          
            
            

          

          
            9

            
              

            

          

          
            
            

          

        

        HSBC
          Bank
          USA, National Association

         

        (n) Set-Off.
          Notwithstanding
          any provision of this Agreement or any other existing or future agreement,
          each
          party irrevocably waives any and all rights it may have to set off, net,
          recoup
          or otherwise withhold or suspend or condition payment or performance of
          any
          obligation between it and the other party hereunder against any obligation
          between it and the other party under any other agreements. The provisions
          for
          Set-off set forth in Section 6(e) of the ISDA Form Master Agreement shall
          not apply for purposes of this Transaction.

         

        (o) “Affiliate”
          will
          have the meaning specified in Section 14 of the ISDA Form Master Agreement,
          provided that Party A and Party B shall be deemed to not have any Affiliates
          for
          purposes of this Agreement, including for purposes of Section
          6(b)(ii).

         

        (p) Section
          3
          of the ISDA Form Master Agreement is hereby amended by adding at the end
          thereof
          the following subsection (g):

         

        “(g)
          Relationship
          Between Parties.

        Each
          party represents to the other party on each date when it enters into a
          Transaction that:--

         

        (1)  Nonreliance.
          (i) It
          is not relying on any statement or representation of the other party regarding
          the Transaction (whether written or oral), other than the representations
          expressly made in this Agreement or the Confirmation in respect of that
          Transaction and (ii) it has consulted with its own legal, regulatory, tax,
          business, investment, financial and accounting advisors to the extent it
          has
          deemed necessary, and it has made its own investment, hedging and trading
          decisions based upon its own judgment and upon any advice from such advisors
          as
          it has deemed necessary and not upon any view expressed by the other
          party.

         

        (2)  Evaluation
          and Understanding.

         

        (i)   It
          has
          the capacity to evaluate (internally or through independent professional
          advice)
          the Transaction and has made its own decision to enter into the Transaction
          and
          in the case of Party B, it has been directed by the Pooling and Servicing
          Agreement to enter into this Transaction; and

         

        (ii)   It
          understands the terms, conditions and risks of the Transaction and is willing
          and able to accept those terms and conditions and to assume those risks,
          financially and otherwise.

         

        (3)  Purpose.
          It is
          entering into the Transaction for the purposes of managing its borrowings
          or
          investments, hedging its underlying assets or liabilities or in connection
          with
          a line of business.

         

        

        (4) Status
          of Parties.
          The
          other party is not acting as agent, fiduciary or advisor for it in respect
          of
          the Transaction,

        

        (5) Eligible
          Contract Participant.
          It is
          an “eligible swap participant” as such term is defined in Section 35.1(b)(2) of
          the regulations (17 C.F.R 35) promulgated under, and it constitutes an
“eligible
          contract participant” as such term is defined in Section 1(a)12 of the Commodity
          Exchange Act, as amended.”

        

        
          
            
            

          

          
            10

            
              

            

          

          
            
            

          

        

        HSBC
          Bank
          USA, National Association

         

        (q)
          The
          ISDA Form Master Agreement is hereby amended as follows

        

        (i) The
          word
“third” shall be replaced by the word “second” in the third line of
          Section 5(a)(i) of the ISDA Form Master Agreement.

        

        (ii)  Transfer,
          Amendment and Assignment.
          No
          transfer, amendment, waiver, supplement, assignment or other modification
          of
          this Transaction shall be permitted by either party (other than a change
          of
          Counterparty in connection with a change of Yield Maintenance Administrator
          in
          accordance with the Pooling and Servicing Agreement) unless Standard and
          Poor’s,
          a Division of the McGraw Hill Companies (“S&P”) has been provided notice of
          the same and confirms in writing (including by facsimile transmission)
          that it
          will not downgrade, qualify, withdraw or otherwise modify its then-current
          rating of the HarborView 2006-7 Mortgage Loan Trust Mortgage Pass-Through
          Certificates, series 2006-7 (the “Certificates”).

        

        (iii) Additional
          Termination Events. Additional
          Termination Events will apply: 

        if
          a
          Rating Agency Downgrade has occurred and Party A has not complied with
          Paragraph
          3(6)(q)(iv) below, then an Additional Termination Event shall have occurred
          with
          respect to Party A and Party A shall be the sole Affected Party with respect
          to
          such an Additional Termination Event. 

        

        (iv) Rating
          Agency Downgrade.
          In
          the
          event that Party A’s short-term unsecured and unsubordinated debt rating is
          reduced below "A-1" by S&P (or if its short-term rating is not available by
          S&P, in the event that its long-term unsecured and unsubordinated debt
          rating is withdrawn or reduced below “A+” by S&P), such rating thresholds,
“Approved Rating Thresholds”), then within 30 days after such rating downgrade
          (unless, within 30 days after such withdrawal or downgrade S&P has
          reconfirmed its rating for the Certificates which was in effect immediately
          prior to such withdrawal or downgrade), Party A shall, subject to the Rating
          Agency Condition, at its own expense: 

        

        (a) assign
          this Transaction to another counterparty, which counterparty shall have
          the
          Approved Rating Thresholds and shall have been approved by Party B on terms
          substantially similar to the terms of this Confirmation;

        

        (b) obtain
          guaranty of, or a contingent agreement of another person with the Approved
          Rating Thresholds, to honor Party A’s obligations under this Confirmation;
          provided that such other person has been approved by Party B; 

        

        (c) post
          collateral which will be sufficient to S&P to maintain or restore the
          ratings of the Certificates existing immediately prior to such downgrade
          of
          Party A’s ratings; or

        

        (d) establish
          any other arrangement satisfactory to Party B and S&P, in each case,
          sufficient to maintain or restore the ratings of the Certificates existing
          immediately prior to such downgrade of Party A’s ratings.

        

        
          
            
            

          

          
            11

            
              

            

          

          
            
            

          

        

        HSBC
          Bank
          USA, National Association

         

        Notwithstanding
          the previous paragraph, in the event that Party A’s short-term unsecured and
          unsubordinated debt rating is withdrawn or reduced below “A-3” by S&P or, if
          there is no short-term rating, its long-term unsecured and unsubordinated
          debt
          rating is withdrawn or reduced below “BBB-” by S&P, then within 10 days of
          such rating withdrawal or downgrade (unless, within 10 days after such
          withdrawal or downgrade S&P has reconfirmed the rating of the Certificates
          which was  in effect immediately prior to such withdrawal or downgrade),
          Party A shall, subject to the Rating Agency Condition, at its own expense,
          assign this Transaction to another counterparty with the Approved Rating
          Thresholds and approved by Party B on terms substantially similar to this
          Confirmation and obtain a confirmation from S&P that such action is
          sufficient to maintain or restore the immediately prior ratings of the
          Certificates.

        

        For
          purposes of these provisions, “Rating Agency Condition” means, with respect to
          any particular proposed act or omission to act hereunder in connection
          with a
          withdrawal or downgrade of any of Party A’s ratings as described above that
          Party A must consult with and receive from S&P
          a
          written confirmation, prior to taking any such action, that such withdrawal
          or
          downgrade of any of Party A’s ratings, after giving effect to any such proposed
          action or omission, would not cause a downgrade or withdrawal of the ratings
          of
          the Certificates existing immediately prior to such withdrawal or downgrade
          of
          Party A’s ratings

        

        4. Account
          Details:

         

        

          
            	
                    Payments
                      to Party A:

                  	
                    HSBC
                      Bank USA, National Association

                  
	 	
                    ABA
                      # 021-001-088

                  
	 	
                    For
                      credit to Department 299

                  
	 	
                    A/C:
                      000-04929-8

                  
	 	
                    HSBC
                      Derivative Products Group

                  
	 	 
	
                    Payments
                      to Party B:

                  	
                    Wells
                      Fargo Bank, N.A.

                  
	 	
                    ABA#
                      121-000-248

                  
	 	
                    For
                      Credit to SAS Clearing

                  
	 	
                    A/C#
                      3970771416

                  
	 	
                    Ref:
                      HarborView Mortgage Loan Trust 2006-7 Yield Maintenance Trust
                      Account

                  
	 	
                    A/C#
                      50939303

                  

          

           

        

        
          	5.	Office:

          	 	 

          	 	
                  Party
                    A is acting through its New York Office for the purposes of this
                    Transaction.

                

        

        
 

        
          
            
            

          

          
            12

            
              

            

          

          
            
            

          

        

        HSBC
          Bank USA, National Association

        
 

        
          	
                  6.
                    

                	
                  Please
                    confirm that the forgoing correctly sets forth the terms of our
                    agreement
                    by having an authorized officer sign this Confirmation and return
                    it via
                    facsimile to:

                

        

        

        HSBC
          Bank
          USA, National Association

        Swap
          Documentation

        
          	
                  Attention:

                	
                  Christian
                    McGreevy

                
	
                  Telephone:

                	
                  (212)
                    525-8710

                
	
                  Fax:

                	
                  (212)
                    525-5517

                

        

        

        Please
          direct all settlement inquiries to:

        

        HSBC
          Bank
          USA, National Association

        Derivative
          Settlements

        
          	
                  Attention:

                	
                  Jeffrey
                    Lombino

                
	
                  Telephone:

                	
                  (212)
                    525-5393

                
	
                  Fax:

                	
                  (212)
                    525-6903

                

        

        

        

        This
          message will be the only form of Confirmation dispatched by us. Please
          execute
          and return it to us by facsimile immediately. If you wish to exchange hard
          copy
          forms of this Confirmation, please contact us.

        

        

        Yours
          sincerely,

        

        HSBC
          BANK
          USA, NATIONAL ASSOCIATION

        

        

        By:
          _________________________ 

        Authorized
          Signature 

        

        

        By:
          _________________________ 

        Authorized
          Signature

        

        Confirmed
          as of the date first written above:

        

        HARBOR
          VIEW MORTGAGE LOAN TRUST 2006-7

        BY:
          WELLS
          FARGO BANK, N.A., NOT IN ITS INDIVIDUAL

        CAPACITY,
          BUT SOLELY AS YIELD MAINTENANCE

        ADMINISTRATOR
          WITH RESPECT TO THE YIELD MAINTENANCE

        TRUST
          RELATING TO THE HARBORVIEW MORTGAGE LOAN 

        PASS-THROUGH
          CERTIFICATES, SERIES 2006-7

        

        

        By:
          ________________________

        Name:

        Title:

        

        Attachment

        
 

        
          
            
            

          

          
            13

            
              

            

          

          
            
            

            HSBC
              Bank
              USA, National Association

        

        Exhibit
          I

        

        
          	
                  For
                    the Calculation Periods

                	
                  Notional
                    Amount

                	
                  Party
                    A

                	
                  Party
                    B

                
	
                  From
                    and including:

                	
                  To
                    but excluding the

                	
                   in
                    USD:

                	
                  Cap
                    Rate

                	
                  Cap
                    Rate

                
	
                  The
                    Effective Date

                	
                  September
                    19, 2008

                	
                  1,135,806,145.42

                	
                  8.848806%

                	
                  9.075%

                
	
                  September
                    19, 2008

                	
                  October
                    19, 2008

                	
                  1,096,180,138.37

                	
                  8.776109%

                	
                  9.075%

                
	
                  October
                    19, 2008

                	
                  November
                    19, 2008

                	
                  1,057,933,908.78

                	
                   8.701178%

                	
                  9.075%

                
	
                  November
                    19, 2008

                	
                  December
                    19, 2008

                	
                  1,021,019,482.88

                	
                  8.623368%

                	
                  9.075%

                
	
                  December
                    19, 2008

                	
                  January
                    19, 2009

                	
                  985,390,553.09

                	
                  8.542502%

                	
                  9.075%

                
	
                  January
                    19, 2009

                	
                  February
                    19, 2009

                	
                  951,002,420.17

                	
                  8.458499%

                	
                  9.075%

                
	
                  February
                    19, 2009

                	
                  March
                    19, 2009

                	
                  917,811,937.45

                	
                  8.371279%

                	
                  9.075%

                
	
                  March
                    19, 2009

                	
                  April
                    19, 2009

                	
                  885,777,456.94

                	
                  8.280753%

                	
                  9.075%

                
	
                  April
                    19, 2009

                	
                  May
                    19, 2009

                	
                  854,858,777.27

                	
                  8.186829%

                	
                  9.075%

                
	
                  May
                    19, 2009

                	
                  June
                    19, 2009

                	
                  825,017,093.55

                	
                  8.089410%

                	
                  9.075%

                
	
                  June
                    19, 2009

                	
                  July
                    19, 2009

                	
                  796,214,948.87

                	
                  7.988444%

                	
                  9.075%

                
	
                  July
                    19, 2009

                	
                  August
                    19, 2009

                	
                  768,416,187.50

                	
                  7.884939%

                	
                  9.075%

                
	
                  August
                    19, 2009

                	
                  September
                    19, 2009

                	
                  741,585,909.77

                	
                  7.617840%

                	
                  9.075%

                
	
                  September
                    19, 2009

                	
                  October
                    19, 2009

                	
                  715,690,428.44

                	
                  7.622758%

                	
                  9.075%

                
	
                  October
                    19, 2009

                	
                  November
                    19, 2009

                	
                  690,697,226.63

                	
                  7.620361%

                	
                  9.075%

                
	
                  November
                    19, 2009

                	
                  December
                    19, 2009

                	
                  666,574,917.19

                	
                  7.601217%

                	
                  9.075%

                
	
                  December
                    19, 2009

                	
                  January
                    19, 2010

                	
                  643,293,203.49

                	
                  7.540310%

                	
                  9.075%

                
	
                  January
                    19, 2010

                	
                  February
                    19, 2010

                	
                  620,822,841.57

                	
                  7.573515%

                	
                  9.075%

                
	
                  February
                    19, 2010

                	
                  March
                    19, 2010

                	
                  599,135,603.59

                	
                  7.552362%

                	
                  9.075%

                
	
                  March
                    19, 2010

                	
                  April
                    19, 2010

                	
                  578,204,242.56

                	
                  7.360753%

                	
                  9.075%

                
	
                  April
                    19, 2010

                	
                  May
                    19, 2010

                	
                  558,002,458.28

                	
                  7.496629%

                	
                  9.075%

                
	
                  May
                    19, 2010

                	
                  June
                    19, 2010

                	
                  538,504,864.49

                	
                  7.408869%

                	
                  9.075%

                
	
                  June
                    19, 2010

                	
                  July
                    19, 2010

                	
                  519,686,957.14

                	
                  7.369279%

                	
                  9.075%

                
	
                  July
                    19, 2010

                	
                  August
                    19, 2010

                	
                  501,525,083.73

                	
                  7.310107%

                	
                  9.075%

                
	
                  August
                    19, 2010

                	
                  September
                    19, 2010

                	
                  483,996,413.80

                	
                  7.249091%

                	
                  9.075%

                
	
                  September
                    19, 2010

                	
                  October
                    19, 2010

                	
                  467,078,910.33

                	
                  7.185230%

                	
                  9.075%

                
	
                  October
                    19, 2010

                	
                  November
                    19, 2010

                	
                  450,751,302.22

                	
                  7.118829%

                	
                  9.075%

                
	
                  November
                    19, 2010

                	
                  December
                    19, 2010

                	
                  434,993,057.73

                	
                  7.050237%

                	
                  9.075%

                
	
                  December
                    19, 2010

                	
                  January
                    19, 2011

                	
                  419,784,358.73

                	
                  6.978307%

                	
                  9.075%

                
	
                  January
                    19, 2011

                	
                  February
                    19, 2011

                	
                  405,106,076.00

                	
                  6.903785%

                	
                  9.075%

                
	
                  February
                    19, 2011

                	
                  March
                    19, 2011

                	
                  390,939,745.25

                	
                  6.825545%

                	
                  9.075%

                

        

         

         

        
          
            
            

          

          
            14

            
              

            

          

          
            
            

          

        

        HSBC Bank USA, National Association 

         

        
          	
                  March
                    19, 2011

                	
                  April
                    19, 2011

                	
                  377,267,544.06

                	
                  6.743883%

                	
                  9.075%

                
	
                  April
                    19, 2011

                	
                  May
                    19, 2011

                	
                  364,072,269.59

                	
                  6.660209%

                	
                  9.075%

                
	
                  May
                    19, 2011

                	
                  June
                    19, 2011

                	
                  351,337,317.05

                	
                  6.571212%

                	
                  9.075%

                
	
                  June
                    19, 2011

                	
                  July
                    19, 2011

                	
                  339,046,658.94

                	
                  6.478558%

                	
                  9.075%

                
	
                  July
                    19, 2011

                	
                  August
                    19, 2011

                	
                  327,184,825.00

                	
                  6.422726%

                	
                  9.075%

                
	
                  August
                    19, 2011

                	
                  September
                    19, 2011

                	
                  315,736,882.87

                	
                  6.416784%

                	
                  9.075%

                
	
                  September
                    19, 2011

                	
                  October
                    19, 2011

                	
                  304,688,419.37

                	
                  6.409655%

                	
                  9.075%

                
	
                  October
                    19, 2011

                	
                  November
                    19, 2011

                	
                  294,025,522.50

                	
                  6.401756%

                	
                  9.075%

                
	
                  November
                    19, 2011

                	
                  December
                    19, 2011

                	
                  283,734,764.05

                	
                  6.393474%

                	
                  9.075%

                
	
                  December
                    19, 2011

                	
                  January
                    19, 2012

                	
                  273,803,182.74

                	
                  6.383984%

                	
                  9.075%

                
	
                  January
                    19, 2012

                	
                  February
                    19, 2012

                	
                  264,218,268.05

                	
                  6.374035%

                	
                  9.075%

                
	
                  February
                    19, 2012

                	
                  March
                    19, 2012

                	
                  254,967,944.53

                	
                  6.362854%

                	
                  9.075%

                
	
                  March
                    19, 2012

                	
                  April
                    19, 2012

                	
                  246,040,556.71

                	
                  6.350779%

                	
                  9.075%

                
	
                  April
                    19, 2012

                	
                  May
                    19, 2012

                	
                  237,424,854.51

                	
                  6.338490%

                	
                  9.075%

                
	
                  May
                    19, 2012

                	
                  June
                    19, 2012

                	
                  229,109,979.14

                	
                  6.324678%

                	
                  9.075%

                
	
                  June
                    19, 2012

                	
                  July
                    19, 2012

                	
                  221,085,449.50

                	
                  6.315134%

                	
                  9.075%

                
	
                  July
                    19, 2012

                	
                  The
                    Termination Date

                	
                  213,341,149.11

                	
                  6.299918%

                	
                  9.075%

                

        

        

        *
          All
          dates listed above (with the exception of the Effective Date), are subject
          to
          adjustment in accordance with the Following Business Day Convention

         

        
          
            
            

          

          
            15

            
              

            

          

          
            
            

          

        

         

      

       

      EXHIBIT
        Q

       

      SERVICING
        CRITERIA

      

      The
        assessment of compliance to be delivered by Wells Fargo Bank, N.A. (“Wells
        Fargo”), in its capacities as Master Servicer and Securities Administrator,
        shall address, at a minimum, the criteria identified as below as “Applicable
        Servicing Criteria:”

       

      
        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Wells Fargo

              
	
                 

                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.

              	 	
                 

                X

              
	
                1122(d)(2)(iv)

              	 	
                 

                The
                  related accounts for the transaction, such as cash reserve accounts
                  or
                  accounts established as a form of overcollateralization, are separately
                  maintained (e.g., with respect to commingling of cash) as set forth
                  in the
                  transaction agreements.

              	 	
                 

                X

              
	
                1122(d)(2)(v)

              	 	
                 

                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	 	
                 

                X

              

      

       

      
        
          
          

        

        
          Q-1

          
            

          

        

        
          
          

        

      

       

        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Wells Fargo

              
	
                 

                Reference

              	 	
                 

                Criteria

              	 	 

      

      
        	
                1122(d)(2)(vi)

              	 	
                 

                Unissued
                  checks are safeguarded so as to prevent unauthorized
                  access.

              	 	
                X

              
	
                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.

              	 	
                 

              
	
                1122(d)(4)(ii)

              	 	
                 

                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements.

              	 	
                 

              
	
                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.

              	 	 
	
                1122(d)(4)(iv)

              	 	
                 

                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in
                  accordance with the related mortgage loan documents.

              	 	 
	
                1122(d)(4)(v)

              	 	
                 

                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	 	 

      

       

      
        
          
          

        

        
          Q-2

          
            

          

        

        
          
          

        

      

       

      
        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Wells Fargo

              
	
                 

                Reference

              	 	
                 

                Criteria

              	 	 

 

      
        	
                1122(d)(4)(vi)

              	 	
                Changes
                  with respect to the terms or status of an obligor’s mortgage loans (e.g.,
                  loan modifications or re-agings) are made, reviewed and approved
                  by
                  authorized personnel in accordance with the transaction agreements
                  and
                  related pool asset documents.

              	 	 
	
                1122(d)(4)(vii)

              	 	
                 

                Loss
                  mitigation or recovery actions (e.g., forbearance plans, modifications
                  and
                  deeds in lieu of foreclosure, foreclosures and repossessions, as
                  applicable) are initiated, conducted and concluded in accordance
                  with the
                  timeframes or other requirements established by the transaction
                  agreements.

              	 	 
	
                1122(d)(4)(viii)

              	 	
                 

                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	 	 
	
                1122(d)(4)(ix)

              	 	
                 

                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan
                  documents.

              	 	 
	
                1122(d)(4)(x)

              	 	
                 

                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction
                  agreements.

              	 	 
	
                1122(d)(4)(xi)

              	 	
                 

                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements.

              	 	 
	
                1122(d)(4)(xii)

              	 	
                 

                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission.

              	 	 
	
                1122(d)(4)(xiii)

              	 	
                 

                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements.

              	 	 
	
                1122(d)(4)(xiv)

              	 	
                 

                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements.

              	 	 
	
                1122(d)(4)(xv)

              	 	
                 

                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements.

              	 	
                 

                X

              

      

       

      
        
          
          

        

        
          Q-3

          
            

          

        

        
          
          

        

         

      

      The
        assessment of compliance to be delivered by Deutsche Bank National Trust
        Company
        (“Deutsche Bank”), in its capacity as Custodian, shall address, at a minimum,
        the criteria identified as below as “Applicable Servicing
        Criteria”:

       

      
        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Deutsche Bank

              
	
                 

                Reference

              	 	
                 

                Criteria

              	 	 
	 	 	
                 

                General
                  Servicing Considerations

              	 	 
	 	 	 	 	 
	
                1122(d)(1)(i)

              	 	
                Policies
                  and procedures are instituted to monitor any performance or other
                  triggers
                  and events of default in accordance with the transaction
                  agreements.

              	 	 
	
                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.

              	 	 
	
                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.

              	 	 
	
                1122(d)(2)(ii)

              	 	
                 

                Disbursements
                  made via wire transfer on behalf of an obligor or to an investor
                  are made
                  only by authorized personnel.

              	 	 
	
                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.

              	 	 
	
                1122(d)(2)(v)

              	 	
                 

                Each
                  custodial account is maintained at a federally insured depository
                  institution as set forth in the transaction agreements. For purposes
                  of
                  this criterion, “federally insured depository institution” with respect to
                  a foreign financial institution means a foreign financial institution
                  that
                  meets the requirements of Rule 13k-1(b)(1) of the Securities Exchange
                  Act.

              	 	 
	
                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.

              	 	 

      

       

      
        
          
          

        

        
          Q-4

          
            

          

        

        
          
          

        

      

       

        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Deutsche Bank

              
	
                 

                Reference

              	 	
                 

                Criteria

              	 	 

      

      
        	 	 	
                 

                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.

              	 	 
	
                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.

              	 	 
	
                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.

              	 	 
	
                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.

              	 	 
	 	 	
                 

                Pool
                  Asset Administration

              	 	 
	
                1122(d)(4)(i)

              	 	
                 

                Collateral
                  or security on mortgage loans is maintained as required by the
                  transaction
                  agreements or related mortgage loan documents.

              	 	
                 

                X

              
	
                1122(d)(4)(ii)

              	 	
                 

                Mortgage
                  loan and related documents are safeguarded as required by the transaction
                  agreements.

              	 	
                 

                X

              
	
                1122(d)(4)(iii)

              	 	
                 

                Any
                  additions, removals or substitutions to the asset pool are made,
                  reviewed
                  and approved in accordance with any conditions or requirements
                  in the
                  transaction agreements.

              	 	
                 

                X

              
	
                1122(d)(4)(iv)

              	 	
                 

                Payments
                  on mortgage loans, including any payoffs, made in accordance with
                  the
                  related mortgage loan documents are posted to the Servicer’s obligor
                  records maintained no more than two business days after receipt,
                  or such
                  other number of days specified in the transaction agreements, and
                  allocated to principal, interest or other items (e.g., escrow)
                  in
                  accordance with the related mortgage loan documents.

              	 	 
	
                1122(d)(4)(v)

              	 	
                 

                The
                  Servicer’s records regarding the mortgage loans agree with the Servicer’s
                  records with respect to an obligor’s unpaid principal
                  balance.

              	 	 
	
                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.

              	 	 

      

       

      
        
          
          

        

        
          Q-5

          
            

          

        

        
          
          

        

      

       

        	
                Servicing
                  Criteria

              	 	
                Applicable

                Servicing

                Criteria
                  for Deutsche Bank

              
	
                 

                Reference

              	 	
                 

                Criteria

              	 	 

      

      
        	 	 	 	 	 
	
                1122(d)(4)(viii)

              	 	
                Records
                  documenting collection efforts are maintained during the period
                  a mortgage
                  loan is delinquent in accordance with the transaction agreements.
                  Such
                  records are maintained on at least a monthly basis, or such other
                  period
                  specified in the transaction agreements, and describe the entity’s
                  activities in monitoring delinquent mortgage loans including, for
                  example,
                  phone calls, letters and payment rescheduling plans in cases where
                  delinquency is deemed temporary (e.g., illness or
                  unemployment).

              	 	 
	
                1122(d)(4)(ix)

              	 	
                 

                Adjustments
                  to interest rates or rates of return for mortgage loans with variable
                  rates are computed based on the related mortgage loan
                  documents.

              	 	 
	
                1122(d)(4)(x)

              	 	
                 

                Regarding
                  any funds held in trust for an obligor (such as escrow accounts):
                  (A) such
                  funds are analyzed, in accordance with the obligor’s mortgage loan
                  documents, on at least an annual basis, or such other period specified
                  in
                  the transaction agreements; (B) interest on such funds is paid,
                  or
                  credited, to obligors in accordance with applicable mortgage loan
                  documents and state laws; and (C) such funds are returned to the
                  obligor
                  within 30 calendar days of full repayment of the related mortgage
                  loans,
                  or such other number of days specified in the transaction
                  agreements.

              	 	 
	
                1122(d)(4)(xi)

              	 	
                 

                Payments
                  made on behalf of an obligor (such as tax or insurance payments)
                  are made
                  on or before the related penalty or expiration dates, as indicated
                  on the
                  appropriate bills or notices for such payments, provided that such
                  support
                  has been received by the servicer at least 30 calendar days prior
                  to these
                  dates, or such other number of days specified in the transaction
                  agreements.

              	 	 
	
                1122(d)(4)(xii)

              	 	
                 

                Any
                  late payment penalties in connection with any payment to be made
                  on behalf
                  of an obligor are paid from the servicer’s funds and not charged to the
                  obligor, unless the late payment was due to the obligor’s error or
                  omission.

              	 	 
	
                1122(d)(4)(xiii)

              	 	
                 

                Disbursements
                  made on behalf of an obligor are posted within two business days
                  to the
                  obligor’s records maintained by the servicer, or such other number of days
                  specified in the transaction agreements.

              	 	 
	
                1122(d)(4)(xiv)

              	 	
                 

                Delinquencies,
                  charge-offs and uncollectible accounts are recognized and recorded
                  in
                  accordance with the transaction agreements.

              	 	 
	
                1122(d)(4)(xv)

              	 	
                 

                Any
                  external enhancement or other support, identified in Item 1114(a)(1)
                  through (3) or Item 1115 of Regulation AB, is maintained as set
                  forth in
                  the transaction agreements.

              	 	 

      

       

      
        
          
          

        

        
          Q-6

          
            

          

        

         

      

      EXHIBIT
        R

       

      ADDITIONAL
        FORM 10-D DISCLOSURE

      

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	 	
                Party
                  Responsible 

              
	
                Item
                  1: Distribution and Pool Performance Information

                 

              	 	 
	
                Information
                  included in the [Monthly Statement]

              	 	
                Servicer

                Master
                  Servicer

                Securities
                  Administrator

                 

              
	
                Any
                  information required by 1121 which is NOT included on the [Monthly
                  Statement]

              	 	
                Depositor

              
	
                 

                Item
                  2: Legal Proceedings

                 

                Any
                  legal proceeding pending against the following entities or their
                  respective property, that is material to Certificateholders, including
                  any
                  proceeding sknown to be contemplated by governmental
                  authorities:

              	 	 
	 	 	 
	
                ▪
                  Issuing Entity (Trust Fund)

              	 	
                Trustee,
                  Master Servicer, Securities Administrator and Depositor

              
	 	 	 
	
                ▪
                  Sponsor (Seller)

              	 	
                Seller
                  (if a party to the Pooling and Servicing Agreement) or
                  Depositor

              
	 	 	 
	
                ▪
                  Depositor

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Trustee

              	 	
                Trustee

              
	 	 	 
	
                ▪
                  Securities Administrator

              	 	
                Securities
                  Administrator

              
	 	 	 
	
                ▪
                  Master Servicer

              	 	
                Master
                  Servicer

              
	 	 	 
	
                ▪
                  Custodian

              	 	
                Custodian

              
	 	 	 
	
                ▪
                  1110(b) Originator

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Any 1108(a)(2) Servicer (other than the Master Servicer or Securities
                  Administrator)

              	 	
                Servicer

              
	 	 	 
	
                ▪
                  Any other party contemplated by 1100(d)(1)

              	 	
                Depositor

              
	 	 	 
	
                Item
                  3: Sale 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

              

      

       

      
        
          
          

        

        
          R-1

          
            

          

        

        
          
          

        

      

       

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	 	
                Party
                  Responsible 

              

      

      
        	
                 

                Item
                  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)

              	 	
                 

                Securities
                  Administrator

                Trustee

              
	
                 

                Item
                  5: Submission of Matters to a Vote of Security
                  Holders

                 

                Information
                  from Item 4 of Part II of Form 10-Q

              	 	
                 

                Securities
                  Administrator

                Trustee

              
	
                 

                Item
                  6: Significant Obligors of Pool Assets

                 

                Item
                  1112(b) - Significant
                  Obligor Financial Information*

                 

              	 	
                 

                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
                  Item.

              	 	 
	
                 

                Item
                  7: Significant Enhancement Provider Information

                 

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

                 

              	 	 
	
                ▪
                  Determining applicable disclosure threshold

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	 	
                Depositor

              
	 	 	 
	
                Item
                  1115(b) - Derivative Counterparty Financial
                  Information*

              	 	 
	 	 	 
	
                ▪
                  Determining current maximum probable exposure

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Determining current significance percentage

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	 	
                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.

              	 	 

      

       

      
        
          
          

        

        
          R-2

          
            

          

        

        
          
          

        

      

       

      
        	
                ADDITIONAL
                  FORM 10-D DISCLOSURE

              
	
                Item
                  on Form 10-D

              	 	
                Party
                  Responsible 

              

      

      
        	
                 

                Item
                  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

                 

              	 	
                 

                Any
                  party responsible for the applicable Form 8-K Disclosure
                  item

              
	
                Item
                  9: Exhibits

                 

              	 	 
	
                Monthly
                  Statement to Certificateholders

                 

              	 	
                 

                Securities
                  Administrator

              
	
                Exhibits
                  required by Item 601 of Regulation S-K, such as material
                  agreements

              	 	
                Depositor

              

      

       

      
        
          
          

        

        
          R-3

          
            

          

        

         

      

      EXHIBIT
        S

       

      ADDITIONAL
        FORM 10-K DISCLOSURE

      

      
        	
                ADDITIONAL
                  FORM 10-K DISCLOSURE

              
	
                Item
                  on Form 10-K

              	 	
                Party
                  Responsible 

              
	 	 	 
	
                Item
                  1B: Unresolved Staff Comments

                 

              	 	
                Depositor

              
	 	 	 
	
                Item
                  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

                 

              	 	
                Any
                  party responsible for disclosure items on Form 8-K

              
	
                Item
                  15: Exhibits, Financial Statement Schedules

              	 	
                Securities
                  Administrator

                Depositor

              
	
                Reg
                  AB Item 1112(b): Significant Obligors of Pool
                  Assets

              	 	 
	 	 	 
	
                Significant
                  Obligor Financial Information*

              	 	
                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
                  Item.

              	 	 
	 	 	 
	
                Reg
                  AB Item 1114(b)(2): Credit Enhancement Provider Financial
                  Information

              	 	 
	 	 	 
	
                ▪
                  Determining applicable disclosure threshold

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	 	
                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.

              	 	 
	 	 	 
	
                Reg
                  AB Item 1115(b): Derivative Counterparty Financial
                  Information

              	 	 
	 	 	 
	
                ▪
                  Determining current maximum probable exposure

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Determining current significance percentage

              	 	
                Depositor

              
	 	 	 
	
                ▪
                  Requesting required financial information (including any required
                  accountants’ consent to the use thereof) or effecting incorporation by
                  reference

              	 	
                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.

              	 	 

      

       

      
        
          
          

        

        
          S-1

          
            

          

        

        
          
          

        

      

      
         

        
          	
                  ADDITIONAL
                    FORM 10-K DISCLOSURE

                
	
                  Item
                    on Form 10-K

                	 	
                  Party
                    Responsible 

                
	
                   

                  Reg
                    AB Item 1117: Legal Proceedings

                   

                  Any
                    legal proceeding pending against the following entities or their
                    respective property, that is material to Certificateholders,
                    including any
                    proceeding sknown to be contemplated by governmental
                    authorities:

                   

                	 	 
	
                  ▪
                    Issuing Entity (Trust Fund)

                	 	
                  Trustee,
                    Master Servicer, Securities Administrator and Depositor

                
	 	 	 
	
                  ▪
                    Sponsor (Seller)

                	 	
                  Seller
                    (if a party to the Pooling and Servicing Agreement) or
                    Depositor

                
	 	 	 
	
                  ▪
                    Depositor

                	 	
                  Depositor

                
	 	 	 
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	 	 	 
	
                  ▪
                    Securities Administrator

                	 	
                  Securities
                    Administrator

                
	 	 	 
	
                  ▪
                    Master Servicer

                	 	
                  Master
                    Servicer

                
	 	 	 
	
                  ▪
                    Custodian

                	 	
                  Custodian

                
	 	 	 
	
                  ▪
                    1110(b) Originator

                	 	
                  Depositor

                
	 	 	 
	
                  ▪
                    Any 1108(a)(2) Servicer (other than the Master Servicer or Securities
                    Administrator)

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Any other party contemplated by 1100(d)(1)

                	 	
                  Depositor

                
	 	 	 
	
                  Reg
                    AB Item 1119: Affiliations and Relationships

                	 	 
	 	 	 
	
                  Whether
                    (a) the Sponsor (Seller), Depositor or Issuing Entity is an affiliate
                    of
                    the following parties, and (b) to the extent known and material,
                    any of
                    the following parties are affiliated with one another:

                	 	
                  Depositor
                    as to (a) 

                  Sponsor/Seller
                    as to (a)

                
	 	 	 
	
                  ▪
                    Master Servicer

                	 	
                  Master
                    Servicer 

                
	 	 	 
	
                  ▪
                    Securities Administrator

                	 	
                  Securities
                    Administrator

                
	 	 	 
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	 	 	 
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  Whether
                    there are any “outside the ordinary course business arrangements” other
                    than would be obtained in an arm’s length transaction between (a) the
                    Sponsor (Seller), Depositor or Issuing Entity on the one hand,
                    and (b) any
                    of the following parties (or their affiliates) on the other hand,
                    that
                    exist currently or within the past two years and that are material
                    to a
                    Certificateholder’s understanding of the Certificates:

                	 	
                  Depositor
                    as to (a) 

                  Sponsor/Seller
                    as to (a)

                
	 	 	 
	
                  ▪
                    Master Servicer

                	 	
                  Master
                    Servicer 

                
	 	 	 
	
                  ▪
                    Securities Administrator

                	 	
                  Securities
                    Administrator

                
	 	 	 
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	 	 	 
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor/Sponsor

                

        

         

        
          
            
            

          

          
            S-2

            
              

            

          

          
            
            

          

        

         

          	
                  ADDITIONAL
                    FORM 10-K DISCLOSURE

                
	
                  Item
                    on Form 10-K

                	 	
                  Party
                    Responsible 

                

        

        
          	 	 	 
	
                  Whether
                    there are any specific relationships involving the transaction
                    or the pool
                    assets between (a) the Sponsor (Seller), Depositor or Issuing
                    Entity on
                    the one hand, and (b) any of the following parties (or their
                    affiliates)
                    on the other hand, that exist currently or within the past two
                    years and
                    that are material:

                	 	
                  Depositor
                    as to (a) 

                  Sponsor/Seller
                    as to (a)

                
	 	 	 
	
                  ▪
                    Master Servicer

                	 	
                  Master
                    Servicer 

                
	 	 	 
	
                  ▪
                    Securities Administrator

                	 	
                  Securities
                    Administrator

                
	 	 	 
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	 	 	 
	
                  ▪
                    Any other 1108(a)(3) servicer

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Any 1110 Originator

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1112(b) Significant Obligor

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1114 Credit Enhancement Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any 1115 Derivate Counterparty Provider

                	 	
                  Depositor/Sponsor

                
	 	 	 
	
                  ▪
                    Any other 1101(d)(1) material party

                	 	
                  Depositor/Sponsor

                

        

         

        
          
            
            

          

          
            S-3

            
              

            

          

           

        

        EXHIBIT
          T

         

        ADDITIONAL
          FORM 8-K DISCLOSURE

        

        
          	
                  FORM
                    8-K DISCLOSURE INFORMATION

                
	
                  Item
                    on Form 8-K

                	 	
                  Party
                    Responsible 

                
	
                   

                  Item
                    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 as to definitive agreements that are
                    fully
                    disclosed in the prospectus

                	 	
                   

                  All
                    parties

                
	 	 	 
	
                  Item
                    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.

                	 	
                  All
                    parties

                
	 	 	 
	
                  Item
                    1.03- Bankruptcy or Receivership

                   

                  Disclosure
                    is required regarding the bankruptcy or receivership, with respect
                    to any
                    of the following: 

                	 	
                  Depositor

                
	
                  ▪
                    Sponsor (Seller)

                	 	
                  Depositor/Sponsor
                    (Seller)

                
	 	 	 
	
                  ▪
                    Depositor

                	 	
                  Depositor

                
	 	 	 
	
                  ▪
                    Master Servicer

                	 	
                  Master
                    Servicer

                
	 	 	 
	
                  ▪
                    Affiliated Servicer

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Other Servicer servicing 20% or more of the pool assets at the
                    time of the
                    report

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Other material servicers

                	 	
                  Servicer

                
	 	 	 
	
                  ▪
                    Trustee

                	 	
                  Trustee

                
	 	 	 
	
                  ▪
                    Securities Administrator

                	 	
                  Securities
                    Administrator

                
	 	 	 
	
                  ▪
                    Significant Obligor

                	 	
                  Depositor

                
	 	 	 
	
                  ▪
                    Credit Enhancer (10% or more)

                	 	
                  Depositor

                

        

         

        
          
            
            

          

          
            T-1

            
              

            

          

          
            
            

          

        

         

        
          	
                  FORM
                    8-K DISCLOSURE INFORMATION

                
	
                  Item
                    on Form 8-K

                	 	
                  Party
                    Responsible 

                

        

        
          	 	 	 
	
                  ▪
                    Derivative Counterparty

                	 	
                  Depositor

                
	 	 	 
	
                  ▪
                    Custodian

                	 	
                  Custodian

                
	 	 	 
	
                  Item
                    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 monthly statements to the certificateholders.

                	 	
                  Depositor

                  Master
                    Servicer

                  Securities
                    Administrator

                
	 	 	 
	
                  Item
                    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.

                	 	
                  Securities
                    Administrator

                  Trustee

                  Depositor

                
	 	 	 
	
                  Item
                    5.03- Amendments of Articles of Incorporation or Bylaws; Change
                    of Fiscal
                    Year

                   

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

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    6.01- ABS Informational and Computational
                    Material

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    6.02- Change of Servicer or Securities Administrator

                   

                  Requires
                    disclosure of any removal, replacement, substitution or addition
                    of any
                    master servicer, affiliated servicer, other servicer servicing
                    10% or more
                    of pool assets at time of report, other material servicers or
                    trustee.

                	 	
                  Master
                    Servicer/Securities Administrator/Depositor/

                  Servicer/Trustee

                
	 	 	 
	
                  Reg
                    AB disclosure about any new servicer or master servicer is also
                    required.

                	 	
                  Servicer/Master
                    Servicer/Depositor

                
	 	 	 
	
                  Reg
                    AB disclosure about any new Trustee is also required.

                	 	
                  Trustee

                

        

         

         

          	
                  FORM
                    8-K DISCLOSURE INFORMATION

                
	
                  Item
                    on Form 8-K

                	 	
                  Party
                    Responsible 

                

        

        
          	 	 	 
	
                  Item
                    6.03- Change in Credit Enhancement or 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.
                    

                	 	
                  Depositor/Securities
                    Administrator/Trustee

                
	 	 	 
	
                  Reg
                    AB disclosure about any new enhancement provider is also
                    required.

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    6.04- Failure to Make a Required Distribution

                	 	
                  Securities
                    Administrator

                  Trustee

                
	 	 	 
	
                  Item
                    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

                
	 	 	 
	
                  Item
                    7.01- Reg FD Disclosure

                	 	
                  All
                    parties

                
	 	 	 
	
                  Item
                    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
                    certificateholders.

                	 	
                  Depositor

                
	 	 	 
	
                  Item
                    9.01- Financial Statements and Exhibits

                	 	
                  Responsible
                    party for reporting/disclosing the financial statement or
                    exhibit

                

        

         

        
          
            
            

          

          
            T-2

            
              

            

          

           

        

        EXHIBIT
          U

         

        ADDITIONAL
          DISCLOSURE NOTIFICATION

         

        Wells
          Fargo Bank, N.A. as Securities Administrator 

        Old
          Annapolis Road

        Columbia,
          Maryland 21045

        Fax:
          (410) 715-2380

        E-mail:
          cts.sec.notifications@wellsfargo.com

         

        Attn:
          Corporate Trust Services - HARBORVIEW MORTGAGE LOAN TRUST 2006-7-SEC REPORT
          PROCESSING

         

        RE:
          **Additional Form [   ] Disclosure**Required

         

        Ladies
          and Gentlemen:

         

        In
          accordance with Section 3.19(a)(ii) of the Pooling and Servicing Agreement
          dated
          as of August 1, 2006, among Greenwich Capital Acceptance, Inc., as Depositor,
          Greenwich Capital Financial Products, Inc., as Seller, Wells Fargo Bank,
          N.A.,
          as Master Servicer and Securities Administrator, Clayton Fixed Income Services,
          Inc., as Credit Risk Manager and Deutsche Bank National Trust Company,
          as
          Trustee and Custodian, 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

              
                

              

            

             

          

        

         

        SCHEDULE
          I

         

        MORTGAGE
          LOAN SCHEDULE

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