Document:

Unassociated Document

    EXHIBIT
      4.1

    

    

    GS
      MORTGAGE SECURITIES CORP.,

     

    Depositor,

     

    WASHINGTON
      MUTUAL BANK, as

    successor
      in interest to

    LONG
      BEACH MORTGAGE COMPANY,

     

    Master
      Servicer and Responsible Party,

     

    DEUTSCHE
      BANK NATIONAL TRUST COMPANY,

     

    Trustee,

     

    and

     

    U.S.
      BANK
      NATIONAL ASSOCIATION,

     

    Co-Trustee

     

    ___________________________________

     

    AMENDMENT
      NO. 1 dated as of

    NOVEMBER
      9, 2007 TO THE

     

    POOLING
      AND SERVICING AGREEMENT

     

    DATED
      AS
      OF MAY 1, 2005

     

    ___________________________________

     

    

     

    GSAMP
      TRUST 2005-S2

     

    MORTGAGE
      PASS-THROUGH CERTIFICATES,

     

    SERIES
      2005-S2

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    AMENDMENT
      NO. 1, dated as of November 9, 2007 (this “Amendment”), among GS MORTGAGE
      SECURITIES CORP., a Delaware corporation (the “Depositor”), WASHINGTON MUTUAL
      BANK, a federally chartered savings association, as successor in interest to
      LONG BEACH MORTGAGE COMPANY, a Delaware corporation, as responsible party (in
      such capacity, the “Responsible Party”) and as master servicer (in such
      capacity, the “Master Servicer”), DEUTSCHE BANK NATIONAL TRUST COMPANY, a
      national banking association, as trustee (the “Trustee”), and U.S. BANK NATIONAL
      ASSOCIATION, as successor to WACHOVIA BANK, NATIONAL ASSOCIATION, a national
      banking association, as co-trustee (the “Co-Trustee”) in connection with the
      Pooling and Servicing Agreement, dated as of May 1, 2005 (the “Agreement”),
      among the Depositor, the Master Servicer, the Responsible Party, the Trustee
      and
      the Co-Trustee.  Capitalized terms not defined herein have the
      meanings assigned to them in the Agreement.

     

    1.           This
      Amendment is effected pursuant to the first paragraph of Section 10.01 of the
      Agreement.

     

    2.           Article
      I of the Agreement is hereby amended by deleting in its entirety the definition
      of “Released Loan” and replacing it with the following:

    

    Released
      Loan: Any Charged Off Loan that is released by the Master Servicer to the Class
      X-1 Certificateholder pursuant to Section 3.15(b). Any Released Loan will no
      longer be an asset of any REMIC or the Trust Fund; provided that in accordance
      with the provisions of Section 3.15(b)(ii), any Responsible Party Payment made
      by the Responsible Party with respect to a Released Loan shall be included
      in
      Available Funds and treated as a Subsequent Recovery.

     

    3.           Article
      I of the Agreement is hereby amended by adding the following definition of
      “Responsible Party Payment”:

    

    Responsible
      Party Payment: Any payment made by the Responsible Party to the Depositor,
      the
      Master Servicer or the Trustee in respect of a Charged Off Loan that has become
      a Released Loan.

     

    4.           Article
      I of the Agreement is hereby amended by deleting in its entirety the definition
      of “Subsequent Recovery” and replacing it with the following:

    

    Subsequent
      Recoveries:  (a) Amounts received with respect to any Liquidated
      Mortgage Loan after it has become a Liquidated Mortgage Loan and, in the case
      of
      a Charged Off Loan, prior to such Liquidated Mortgage Loan becoming a Released
      Loan or (b) any Responsible Party Payment made by the Responsible Party after
      a
      Charged Off Loan becomes a Released Loan in accordance with Section 3.15(b)(ii)
      hereof.

     

    5.           Article
      II of the Agreement is hereby amended by deleting in its entirety subsection
      (e)
      of Section 2.03 and replacing it with the following:

     

    (e)           The
      Responsible Party hereby acknowledges and agrees that the remedies available
      to
      the Depositor, the Master Servicer and the Trustee in connection with any breach
      of the representations and warranties made by the Responsible Party with respect
      to the Mortgage Loans (including any Released Loan) set forth in Subsections
      (b)
      and (c) hereof shall be as set forth in Section 3.3 of the Purchase Agreement
      as
      if they were set forth herein (including without limitation the repurchase
      and
      indemnity obligations set forth therein) and such remedies shall be enforceable
      directly by the Depositor, the Master Servicer and the Trustee directly under
      this Agreement.

     

    6.           Article
      III of the Agreement is hereby amended by deleting in its entirety subsection
      (b) of Section 3.15 and replacing it with the following:

    

     (b)(i)
      With respect to any Mortgage Loan that is not a Covered Loan or for which
      coverage is not available under the Mortgage Pool Insurance Policy that is
      180
      days delinquent, the Master Servicer shall charge off such delinquent Mortgage
      Loan.  Once a Mortgage Loan has been charged off, the Master Servicer
      will discontinue making P&I Advances, the Master Servicer will not be
      entitled to any additional servicing compensation in respect of such Charged
      Off
      Loan and the Charged Off Loan will give rise to a Realized Loss.  Any
      such Charged Off Loan will be released from the Trust Fund on the date such
      Charged Off Loan becomes 210 days delinquent (a “Released Loan”), will no longer
      be an asset of any REMIC, and will be transferred to the Class X-1
      Certificateholders, without recourse, and thereafter, subject to clause (b)(ii)
      below, (i) the Class X-1 Certificateholder will be entitled to any amounts
      subsequently received in respect of any such Released Loan (other than as set
      forth in clause (b)(ii) below), (ii) the Class X-1 Certificateholder may
      designate any servicer to service any such Released Loan and (iii) the Class
      X-1
      Certificateholder may sell any such Released Loan to a third
      party.  Once a Mortgage Loan is charged off and discharged from the
      Trust pursuant to this Section 3.15(b)(i), the Master Servicer shall not be
      obligated to service such Mortgage Loan.  The Master Servicer may
      cease any collection efforts with respect to such Mortgage Loan, and statements
      of account may no longer be sent to such Mortgagor.  The Master
      Servicer shall write off each charged off Mortgage Loan as bad
      debt.

    

    (ii)
      With
      respect to any Charged Off Loan that is discharged from the Trust pursuant
      to
      this Section 3.15(b), any Responsible Party Payment made in respect of such
      Released Loan by the Responsible Party shall be deposited in the Collection
      Account by the Master Servicer pursuant to Section 3.10 on or before the next
      Remittance Date and included in Available Funds as a Subsequent
      Recovery.

    

    7.           Conditions
      Precedent to this Amendment:  The following conditions precedent to
      the effectiveness of this Amendment have been fulfilled:

    

    (a)  The
      prior
      notice of this Amendment required by Section 10.01 of the Agreement has been
      given by the Depositor to each of the Rating Agencies, currently Moody's
      Investors Service, Inc. and Fitch, Inc., and the Trustee hereby acknowledges
      receipt of copies thereof.

     

    (b)  The
      opinions of counsel required by Section 10.01 of the Agreement have been
      received by the Trustee.

     

    8.           This
      Amendment is subject to the terms of the Agreement as modified and supplemented
      herein.  The Agreement continues in full force and effect as modified
      herein and provided therein.

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    
 

    The
      undersigned have executed this Amendment as of the date hereof.

    

    
      	
              GS
                MORTGAGE SECURITIES CORP.,

            
	
              as
                Depositor

            
	 
	
              By:

            	 /s/
              Kevin Gasvoda
	
              Name:

            	 Kevin
              Gasvoda
	
              Title:

            	 Vice
              President
	 
	 
	
              DEUTSCHE
                BANK NATIONAL TRUST COMPANY,

            
	
              solely
                as Trustee and not in its individual capacity

            
	 
	
              By:

            	 /s/
              Mei Nghia
	
              Name:

            	 Mei
              Nghia
	
              Title:

            	 Authorized
              Signer
	 
	
              By:

            	 /s/
              Manuel Rivas
	
              Name:

            	 Manuel
              Rivas
	
              Title:

            	 Authorized
              Signer
	 
	 
	
              U.S.
                BANK NATIONAL ASSOCIATION, as successor to 

              WACHOVIA
                BANK, NATIONAL ASSOCIATION,

            
	
              solely
                as Co-Trustee and not in its individual capacity

            
	 
	
              By:

            	 /s/
              Annette E. Morgan
	
              Name:

            	 Annette
              E. Morgan 
	
              Title:

            	 Trust
              Officer
	 
	 
	
              WASHINGTON
                MUTUAL BANK, as successor in interest to 

              LONG
                BEACH MORTGAGE COMPANY,

            
	
              as
                Responsible Party

            
	 
	
              By:

            	 /s/
              Trisha Lowe
	
              Name:

            	 Tisha
              Lowe
	
              Title:

            	 Vice
              President
	 
	 
	 
	
              WASHINGTON
                MUTUAL BANK, as successor in interest to 

              LONG
                BEACH MORTGAGE COMPANY,

            
	
              as
                Master Servicer

            
	 
	
              By:

            	 /s/
              Trisha Lowe
	
              Name:

            	 Trisha
              Lowe
	
              Title:

            	 Vice
              President

    

    

     

    
      	
              PRIOR
                CONSENT HERETO IS HEREBY GIVEN:

            
	 
	
              GOLDMAN,
                SACHS & CO., as Holder of Class X-1 Certificates

               representing
                a 100.00% Percentage Interest in such Class

            
	 
	
              By:

            	 /s/
              Kevin Gasvoda
	
              Name:

            	 Kevin
              Gasvoda
	
              Title:

            	 Managing
              DirectorUnassociated Document

    Exhibit
      10.18                                                                                         

    

    October
      31, 2007

    

    Mr.
      David
      M. Bradley

    13321
      Douglas Parkway

    Urbandale,
      Iowa 50323

    

    Re:
      Novation of Employment Agreements

    

    Dear
      Mr.
      Bradley:

    

    Reference
      is made to the Employment
      Agreement, made and entered into as of March 20, 1996 by and between First
      Federal Savings Bank of Iowa (formerly known as First Federal Savings Bank
      of
      Fort Dodge) (the “Bank”) and you (the “Bank Employment Agreement”) and the
      Employment Agreement, made and entered into as of March 20, 1996 by and between
      North Central Bancshares, Inc. (the “Company”) and you (the “Company Employment
      Agreement”).

    

    We
      hereby confirm that, in addition to
      your current position as Chairman of the Board of the Company and the Bank,
      you
      have been re-elected to the positions of President and Chief Executive Officer
      of the Company and Chief Executive Officer of the Bank, and all elements of
      your
      compensation and benefits have been restored to the level commensurate with
      those positions, all effective immediately upon the effectiveness of Paul F.
      Bognanno's resignation from such positions.  We further agree that (1)
      your not having performed the duties of President and Chief Executive Officer
      of
      the Company and/or Chief Executive Officer of the Bank for the period beginning
      July 1, 2007 and ending with the date of your re-election does not constitute,
      and we hereby waive any right we might otherwise have to cite it as, grounds
      for
      the Company or the Bank to terminate your employment for “cause” within the
      meaning of the Company Agreement and the Bank Agreement and (2) the assignment
      of such positions to others during such period, and adjustments to your
      compensation in effect during such period do not alone or collectively
      constitute, and you hereby waive any right that you might otherwise have to
      cite
      them as, grounds for you to terminate your employment with the Bank and the
      Company and claim severance benefits under the Bank Agreement and the Company
      Agreement.

    

    To
      the extent described in the
      preceding paragraph, this letter shall constitute a waiver and modification
      of
      our respective rights as contemplated by sections 21 and 25 of the Company
      Agreement and the Bank Agreement.

    If
      you are in agreement with the terms
      of this letter, kindly so indicate by countersigning in the space provided
      and
      returning the countersigned letter to C. Thomas Chalstrom.

    

    Very
      truly yours,

    
      

      
        	
                North
                  Central Bancshares, Inc.

              	 	
                First
                  Federal Savings Bank of Iowa

              
	 	 	 
	 	 	 
	
                /s/
                  Melvin R. Schroeder

              	 	
                /s/
                  C. Thomas Chalstrom

              
	
                Name

              	 	
                Name

              
	 	 	 
	
                Compensation
                  Committee Chairman

              	 	
                President

              
	
                Title

              	 	
                Title

              
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	
                Agreed
                  to and accepted on October
                  31, 2007

              
	 	 	 
	 	 	 
	 	 	 
	
                /s/
                  David M. Bradley

              	 	 
	
                David
                  M. Bradley

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